Latest news with #Zagreb
Bloomberg
11 hours ago
- Business
- Bloomberg
Retailer's Refinancing Caps Revival Under Croatian Tycoon
Hi, this is Jasmina Kuzmanovic in Zagreb. Welcome to our weekly newsletter on what's shaping economics and investments from the Baltic Sea to the Balkans. You can subscribe here. When the biggest food producer and retailer in the Balkans unraveled in 2017, the Croatian government had to step in to salvage the company from near-bankruptcy and oust the man who owned it. In doing so, it helped save the biggest employer in Croatia and the surrounding region, not to mention a network of suppliers.
Times of Oman
12 hours ago
- Business
- Times of Oman
PM Modi, Croatia PM underscore importance of inking India-EU FTA within a year
Zagreb : Prime Minister Narendra Modi and Prime Minister of Croatia, Andrej Plenkovic underscored the importance of concluding a mutually beneficial India-EU Free Trade Agreement. PM Modi and Plenkovic welcomed the renewed momentum in the strategic partnership between India and the EU. "The two leaders welcomed the renewed momentum in the strategic partnership between India and the EU, two of the largest democracies, open market economies, and pluralistic societies. They underscored the importance of concluding a mutually beneficial India-EU FTA within the course of the year, as agreed during the historic visit of the EU College of Commissioners to India in February 2025," the statement read. The two expressed support for a just and lasting peace in the Russia-Ukraine conflict and the Middle East. They reiterated their commitment to promote a free Indo-Pacific region based on mutual respect. "The two Prime Ministers exchanged views on regional and global issues of mutual interest, including war in Ukraine. They expressed support for a just and lasting peace in Ukraine based on respect for international law, principles of the UN Charter and territorial integrity and sovereignty. The two leaders expressed concern about the deterioration of security situation in the Middle East and called for de-escalation between Israel and Iran. The leaders reaffirmed their commitment to promote a free, open, peaceful and prosperous Indo-Pacific built on international law and mutual respect for sovereignty and peaceful resolution of disputes underpinned by effective regional institutions," the statement read. As per the statement, the two sides emphasised the urgent need for reforms in the UN system, particularly the UN Security Council to make it inclusive and transparent. "The two sides reaffirmed their strong commitment to multilateralism and support for a rules-based international order. They emphasised the urgent need for reforms in the UN system, particularly the UN Security Council including its expansion in both permanent and non-permanent categories, to make it more inclusive, transparent, effective, accountable, efficient and better aligned with contemporary geopolitical realities," the statement read. Both sides reaffirmed their commitment to expanding the partnership between India and Croatia. "The Indian side expressed gratitude for the warm hospitality extended to them by the Croatian side. The two Prime Ministers expressed satisfaction at the outcomes of the visit, and reaffirmed their commitment to expanding the partnership between India and Croatia," the statement read. PM Modi paid an official visit to Croatia on June 18. This marked the first-ever visit of an Indian Prime Minister to Croatia to strengthen the growing momentum of high-level exchanges between the two nations.
Times of Oman
2 days ago
- Business
- Times of Oman
India, Croatia to speed up bilateral ties three times, to formulate Defence Cooperation Plan: PM Modi
Zagreb: Prime Minister Narendra Modi said on Wednesday that India and Croatia will promote cooperation in many areas including pharma, agriculture, information technology and a Defence Cooperation Plan will be made for long-term cooperation in the defence sector. In a joint press statement with Croatia PM Andrej Plenkovic after their delegation-level talks, PM Modi said the two countries have emphasised joint research and collaboration between their academic institutions and India will share its space experience with Croatia. PM Modi reached Croatia earlier in the day in the last leg of his three-nation visit. "We have decided to speed up our bilateral relations three times in our third term. A Defence Cooperation Plan will be made for long-term cooperation in the defence sector, which will focus on training and military exchange as well as defence industry. There are many areas where our economies can complement each other. These areas have been identified," he said. "We have decided to increase cooperation in many areas to increase bilateral trade and create a reliable supply chain. We will promote cooperation in many important areas like pharma, agriculture, information technology, clean technology, digital technology, renewable energy," he added. The Prime Minister said there are also ample opportunities for Croatian companies in the port modernisation, coastal zone development and multi-modal connectivity being carried out under India's Sagarmala Project. "We have emphasised joint research and collaboration between our academic institutions and centres. India will share its space experience with Croatia. Our centuries-old cultural relations are the root of mutual affection and goodwill... Today, we have decided to give more strength to our cultural and people-to-people relations. The duration of the MoU of Hindi Chair in Zagreb University has been extended till 2030. A cultural exchange program has been prepared for the next five years. The mobility agreement will be completed soon to facilitate the movement of people," he said. PM Modi expressed his heartfelt gratitude to the Croatian Prime Minister and the Croatian government for the enthusiasm, warmth and affection with which he has been welcomed. "This is the first visit of any Indian Prime Minister to Croatia, and I have had the good fortune of it. India and Croatia are connected by common values like democracy, rule of law, pluralism and quality. It is a happy coincidence that last year the people of India have given me and the people of Croatia have given the opportunity to Croatian Prime Minister, Andrej Plenkovic to serve for the third consecutive time," he said.
Times of Oman
2 days ago
- Business
- Times of Oman
Visit will help India find favourable FTA with EU: Envoy Goel on PM's visit to Croatia
Zagreb: Prime Minister Narendra Modi's visit to Croatia will play a crucial role in securing a favourable Free Trade Agreement (FTA) with the European Union as well as enhanced trade between India and Croatia, said Ambassador of India to Croatia, Arun Goel, on Tuesday. Speaking to ANI, ahead of the PM's first-ever visit to Croatia, Goel said the visit can be seen as a pivotal step in strengthening India's engagement with EU partners. Goel, noting the imbalance in bilateral trade between the two nations, stated that the scope of growth in trade in both directions was immense. "If we look at the current trade numbers between India and Croatia, it is growing year to year; as of today, Croatian exports are something like USD 27 billion, and they are exporting to India just USD 70 million, which is 0.26 per cent. Croatia is importing goods and services worth USD 47 billion, and they are importing from India just USD 380 million, which is 0.67 per cent. The scope of growth in trade in both directions between India and Croatia is immense," he said. Goel pointed out that as India, currently the fourth-largest economy globally, aims to become the third-largest, increasing exports to the EU is crucial. "Croatia has been a member of the EU since 2013 and a member of the Eurozone since 2023. So this visit will help us find a partner through whom we'll be able to find a more balanced and favourable FTA with the EU," he added. Goel highlighted the PM's visit, which includes bilateral discussions with Croatian President Zoran Milanovic and Prime Minister Andrej Plenkovic, a visit to the Homeland Memorial, and a walk to connect with the public, is expected to elevate the bilateral relationship. The Ambassador revealed that four agreements will be signed during the visit, covering agriculture and allied activities, science and technology, cultural exchange, and the extension of the Hindi Chair at the University of Zagreb. "One is the agreement on agriculture and allied activities, wherein as many as 30 areas of cooperation have been identified. Then a programme of cooperation in science and technology is being signed where both countries in all the areas of science and technology will identify joint projects and joint research projects. Cultural exchange programme is being extended for five more years, and then the extension of the already ongoing Hindi Chair at the University of Zagreb," he detailed, highlighting opportunities in emerging technologies, maritime research, and cultural heritage. Goel also underscored the significance of PM Modi's visit as a global leadership gesture, noting the enthusiasm among the Croatian diaspora. "There are 38 million Croatians in the country and about 4 million Croatians outside Croatia living in the US, Australia, Germany, and so on. They look at this first visit by Indian Prime Minister Narendra Modi ji, not merely as a visit by India's Prime Minister, but a visit by a global leader because they consider Narendra Modi Ji, who in the present unstable times is considered by them as a pillar to bring about global peace," he said. Additionally, Goel highlighted specific sectors where India and Croatia are likely to deepen collaboration, particularly in the influx of Indian workers to Croatia. "Till about three years ago, we had less than 100 Indians in Croatia. In the last three years, because of the demographic complementarity, a number of Indian workers have come here. They are very happy to be here. They feel absolutely safe to be here. That's very important, and Croatians consider Indians as hard-working, skilled, reliable, peace-loving people who are adding to their economy," he noted, indicating a positive trend that is expected to grow as Croatia's economy expands. PM Modi will be visiting the European nation in the final leg of his three-nation tour at the invitation of the Prime Minister of Croatia, Andrej Plenkovic, on June 18. This will be the first-ever visit by an Indian Prime Minister to Croatia, marking an important milestone in the bilateral relationship. Modi will hold bilateral discussions with Prime Minister Plenkovic and meet the President of Croatia, Zoran Milanovic. The visit to Croatia will also underscore India's commitment to further strengthening its engagement with partners in the European Union.
Reuters
4 days ago
- Business
- Reuters
Croatian consumer prices rise 3.5% in May on the year
June 16 (Reuters) - Croatian consumer prices rose 3.5% in May on a yearly basis, confirming an earlier flash estimate, according to data released by the statistics office on Monday, with the restaurants and hotels sector surging 9%, the biggest sectoral increase in May. Restaurants and hotels contributed 0.46 percentage point to overall consumer price growth, the data showed. Food and non-alcoholic beverages surged 5.7%, the largest contribution to the overall rise at 1.52 percentage points. Miscellaneous goods and services rose 6.2%, while recreation and culture prices climbed 5.8%. Housing, water, electricity, gas, and other fuels rose by 5.6%, with prices in education up 5.3%. Transport and clothing and footwear prices declined by 1.9% and 1.7%, respectively. Compared with April, consumer prices increased by 0.3% on average.
