business

Fired Audi engineer says he was 'sacrificed' for emissions scandal

A fired Audi engineer was "sacrificed" amid the ongoing VW group diesel emissions scandal, his lawyer claimed in court on Tuesday as he contested his client's dismissal.

Samsung's de facto boss hit by second arrest warrant

For the second time in a matter of weeks, South Korean prosecutors on Tuesday applied for an arrest warrant for the vice chairman of electronics giant Samsung, Lee Jae Yong.

Trump aide who plugged Ivanka fashions says president supports her

A close aide to US President Donald Trump who raised ethics questions by promoting the Ivanka Trump clothing line said Friday the president supports her.

Trump attacks retailer Nordstrom for dropping daughter's designs

US department store chain Nordstrom treated Ivanka Trump unfairly by dropping her clothing collection, said US President Donald Trump Wednesday as he jumped to his daughter's defence.

Major US department store drops Ivanka Trump's fashion line

A major American department store chain said Friday it has dropped Ivanka Trump's clothing collection because of low sales.

Uber CEO pulls out of Trump's business council

The chief executive of Uber has backed out of a business advisory council set up by Donald Trump, a week after the new US president issued an immigration order that raised concerns for the ride-hailing company and its employees.

Swiss voters on the fence ahead of poll on higher corporate taxes

The Swiss government wants to raise taxes for international corporations, but voters are split on the plan that will be decided in a referendum next week, according to polls that were published on Wednesday.

German minister, business leader hit out at Trump White House

German Minister for Economic Affairs Brigitte Zypries joined the nation's business leaders on Wednesday in expressing "alarm" about the threat posed to Europe's biggest economy by the aggressive global stance taken by the new US administration.

Agrokor says can meet all financial obligations

The Agrokor food and agriculture group said on Thursday it was a stable and strong company capable of meeting all its financial obligations and had no need for additional refinancing.

Trump meets with US carmakers to push for jobs

US President Donald Trump met with US carmakers Tuesday, part of his effort to pressure the manufacturers to build their products for the US market inside that country.

Poroshenko's chocolate factory in western Russia to end production

Ukrainian President Petro Poroshenko's eponymous Roshen chocolate factory in the Lipetsk region of western Russia announced on Friday that it would end production in the coming months.

American business group warns against US trade conflict with China

Beijing (dpa) - The American Chamber of Commerce in China said Wednesday that Beijing will likely respond if US president-elect Donald Trump imposes restrictions on trade or investment between the two countries.

South Korean prosecutors request arrest warrant for Samsung heir

South Korean prosecutors on Monday requested the arrest of Samsung heir Lee Jae Yong on corruption charges linked to the ever-widening scandal surrounding President Park Guen Hye, local media reported.

S Korea investigation: Charges against Samsung head likely by Sunday

Investigators say they will decide by Sunday whether to seek the arrest of the de facto head of Samsung on corruption charges linked to the ever-widening scandal surrounding South Korean President Park Guen Hye, reports national media.

India demands apology from Amazon for insulting flag, warns of action

India on Wednesday demanded an apology from retail giant Amazon for selling doormats featuring its national flag and warned it would cancel visas of company officials unless the products were withdrawn.

Croatia's HT buys majority stake in Montenegrin Telecom

The Croatian telecommunications company Hrvatski Telekom (HT) signed an agreement on Tuesday to buy 76.53 percent of shares in Montenegro's Crnogorski Telekom from Hungary's Magyar Telekom for EUR 123.5 million, which is HT's first major regional acquisition.

Trump threatens General Motors over imports from Mexico

US president-elect Donald Trump criticized the country's largest car manufacturer General Motors via Twitter on Tuesday over the company's imports from Mexico.

New tax reform-related laws to go into force in 2017

Sixteen tax reform-related laws are due to enter into force in Croatia at the beginning of 2017 and are expected to result in higher salaries for most workers and reduce the tax burden on businesses.

Deloitte ranks 3 Croatian companies among 500 fastest growing in EMEA

Three Croatian companies - Rimac Automobili, Hangar 18 and Serengeti - have been ranked by Deloitte among the 500 fastest growing technology companies in Europe, the Middle East and Africa (EMEA) in 2016, Deloitte said on Wednesday.

Croatian President: Women underrepresented in many business sectors

Croatian women are underrepresented in a number of business sectors and it will take a lot of time to change that, however, not without broader institutional support and without changing the way children are brought up, President Kolinda Grabar-Kitarovic said at a conference on women in business held in Zagreb on Thursday.

Vietnam suspends BMW imports

Vietnam has temporarily blocked imports of all BMW vehicles in the wake of fraud allegations, local media reported Thursday.

Ex-Iron Maiden singer Dickinson speaks at EBAN conference in Zagreb

Bruce Dickinson, the lead singer of Iron Maiden, a commercial pilot and entrepreneur said in his speech at the EBAN Winter University 2016 conference in Zagreb on Tuesday that it was important to foster direct communication among people which, he said, had been neglected with the appearance of new technologies.

Italy's original Nutella factory to close due to flooding threat

Italy's biggest chocolate confectionery factory, which produces Nutella and Kinder eggs and other well-known products, will shut temporarily on Thursday due to severe weather, parent company Ferrero said.

Global market cautious as voters go to the polls in the US

Global financial markets were waiting cautiously on Tuesday for the outcome of the US presidential election.

Dalekovod terminates contract for transmission line in Poland

The consortium Dalekovod Polska S.A. - ZUE S.A. and the Polish power supplier Polskie Sieci Elektroenergetyczne (PSE) have consensually terminated a contract for the construction of a 132-kilometre 400-kilovolt Kozienice-Oltarzew transmission line.

Grabar-Kitarovic for boosting economic cooperation with Canada

Economic cooperation between Croatia and Canada can be much more intensive than it is now and efforts to create a better business climate in Croatia can contribute to that, including the government's proposed  tax reform, President Kolinda Grabar-Kitarovic said at a Canadian-Croatian Business Network (CCBN) working lunch on Friday.

Croatia ranked 43rd in WB's Doing Business report

The World Bank's "Doing Business 2017: Equal Opportunity for All" report ranks Croatia 43rd among 190 countries and the slightly lower ranking than last year is due to more difficulty in starting a business and additional taxes.

AT&T tops Bayer: the five biggest mega deals of 2016

With AT&T's offer worth over 100 billion dollars for media giant Time Warner, the US telecom firm has surpassed the German company AG Bayer's recent merger with Monsanto. Here are the largest announced corporate takeovers to date in 2016.

Grabar-Kitarovic wants better business conditions for startups

Croatian President Kolinda Grabar-Kitarovic said in London on Wednesday that Croatia needed to improve the business environment for innovative companies that were relocating abroad because they could not realise their ideas in Croatia.

Connecting with Croatia's emigration for economic growth

Economic development, growth and productivity can be facilitated by connecting business people from Croatia and the Croat emigrant community

AD Plastik wins EUR 2.5 mln deal with Volkswagen

The Solin-based factory AD Plastik has reported having agreed cooperation with Volkswagen (VW), for which it will be making handles for four VW car makes, to be delivered to factories in Germany and Mexico.

Merkel pushes for digital progress ahead of Hollande, Juncker meeting

German Chancellor Angela Merkel called Wednesday for more cooperation between EU member states and companies on digital development ahead of a meeting with French President Francois Hollande and European Commission President Jean-Claude Juncker.

New investment of HRK 83 mln in Jadran hotel company

Next year the Crikvenica-based Jadran hotel company is to embark on a new investment cycle worth more than HRK 83 million, the company reported on Thursday.

ZSE main indices weaken, turnover exceeds HRK 10m

The main Zagreb Stock Exchange indices decreased on Thursday, the Crobex by 0.12% to 1,786 points and the specialised Crobex10 by 0.07% to 1,038 points, with regular turnover reaching HRK 10.5 million and three stocks crossing the million kuna mark.

Australian mining giant BHP Billiton posts 6-billion-dollar loss

The world's top iron ore producer BHP Billiton on Tuesday posted a 6.4-billion-dollar loss for 2015-16, the first full-year statutory loss in the history of the Anglo-Australian company.

South Korea pardons almost 5,000, including convicted business leader

South Korean President Park Geun Hye has granted amnesty to almost 5,000 convicted criminals

Deutsche Telekom reports profit slump despite boom in US business

 German telecoms giant Deutsche Telekom posted a surprise fall in second-quarter profit on Thursday despite a surge in sales in the United States.

British American Tobacco buys 16% share in Tisak news-stands company

The Croatian concern Agrokor and the TDR tobacco company, which is owned by British American Tobacco (BAT), on Wednesday closed a deal whereby Agrokor sold to TDR a 16% ownership share in its news stand company Tisak, Agrokor has reported.

French Cristal Union Group buys share in Viro sugar company

The French Cristal Union Group has bought 17% of the shares in the Viro sugar factory from Viro's largest private shareholder, Marinko Zadro, the company reported on Thursday.

AD Plastik Group income down 2.4 pct, profit up 4.2 pct

The generated income is in line with the company's business plan, which included problems on one of the company's most important markets -- Russia.

Atlantic Grupa reports drops in H1 income and profit

Atlantic Grupa recorded a net profit after minority interest of HRK 133.5 million in the first half of 2016, down 7.3% compared with the same period of 2015, the food company said on Thursday.

VW steals global sales top spot from Toyota despite emission scandal

Troubled German carmaker Volkswagen surpassed Toyota Motor in global sales in the first half of 2016, despite an emission cheating scandal that had threatened to engulf VW, sales results showed Thursday.

Koncar posts lower H1 income, higher profit

Koncar Group generated an operating income of HRK 1.3 billion in the first half of 2016, which was 16% less than in the same period last year, while pre-tax profit increased by nearly 18%, this electrical, transport and energy company said in a financial statement on Wednesday.

EBRD continues to support women in business in Croatia

The European Bank for Reconstruction and Development (EBRD) announced on Friday it would continue its programme for women entrepreneurs in Croatia which would enable SMEs managed by women to access loans and business counselling.

German regulator: Merged stock exchange does not belong in London

Europe's most important stock exchange should not be based outside the European Union, Germany's financial regulator said Tuesday, criticizing merger plans by Germany's Deutsche Boerse and the London Stock Exchange (LSE) amid last week's Leave vote.

Brexit raises questions about German, British stock exchange merger

Britain's planned exit from the European Union has raised questions about plans by Germany's Deutsche Boerse and the London Stock Exchange (LSE) to base themselves in London once they have completed their merger.

German industry: Speedy Brexit negotiations needed to limit fallout

Brexit negotiations must be conducted in a timely manner in order to limit the economic damage from the British decision to leave the European Union, German industry representatives said Friday.

Merkel lauds agreement on cybersecurity as she ends China visit

German Chancellor Angela Merkel lauded an agreement on cybersecurity reached with China as she wrapped up her three-day visit to the country on Tuesday.

Opel suffers setback in attempt to fend off emissions-cheating claims

General Motors' Opel unit suffered a partial setback on Friday in its attempt to fend off emissions-cheating allegations, after a German court found some of its advertising claims to be misleading to customers and therefore inadmissable.

Trump to visit Scotland golf resort day after EU referendum

Donald Trump, the presumptive Republican presidential nominee, will visit Scotland on June 24 for the official reopening of his Trump Turnberry hotel and golf resort.

Croatian PM very pleased with talks with French business people

Croatian Prime Minister Tihomir Oreskovic met in Paris on Tuesday with executives of more than 40 French companies interested in investing in Croatia, saying that his main goal was to send a message that Croatia is open to business cooperation.

Croatian-French business forum discusses possibilities for boosting cooperation

Split Mayor Ivo Baldasar said the forum was exceptionally important for the Split region. "Our development possibilities are primarily directed at tourist infrastructure," Baldasar said

Australian scientist claims bitcoin creation, but scepticism lingers

"I'm not seeking publicity but want to set the record straight," Wright was quoted as saying by The Economist.

EU takes Greece to court over illegal state aid to mining company

The European Union's executive is referring Greece to the bloc's top court for failing to recoup millions of euros in support granted to a mining company earmarked for privatization as part of the country's bailout programmes.

Ningbo business delegation visits Zagreb

The conference was held on the occasion of a visit by a delegation of the Ningbo Chamber of International Commerce led by secretary-general Zhao Dafang.

Regional leaders open International Economic Fair Mostar 2016

Turkish Deputy Prime Minister Numan Kurtulmus, whose country is a partner of the Mostar fair, declared the event open, underscoring that his country wanted the best possible relations with all Southeast European countries.

Gathering of Croatian business women in Vienna

A gathering of Croatian and Burgenland Croat business women was held at the Croatian Embassy in Vienna on Thursday evening with the aim of networking, promoting business cooperation and exchanging experience.

Business group says Brexit could cost Britain 100 billion pounds

A British EU exit, or Brexit, could cost the country some 100 billion pounds (144 billion dollars) and result in the loss of 950,000 jobs by 2020, a leading business group said on Monday.

El Al faces suit after ultra-Orthodox seat swap request to woman

An Israeli rights group Sunday said it will sue El Al, after the Israeli airline asked a woman to switch seats because an ultra-Orthodox man did not want to sit next to her.

Indonesian cities start charging shoppers fees for plastic bag use

Indonesian retailers in 22 cities began charging fees for the use of plastic bags Sunday, an effort to reduce plastic waste. 

Employers association says pension funds should invest in business projects

HUP general director Davor Majetic told Hina that considering the huge assets managed by pension funds, which exceeded HRK 74 billion, it was clear that their importance was great and that they could contribute to positive economic trends.

India regulator backs net neutrality in blow to Facebook

India's telecom regulator on Monday ruled against differential pricing for internet services, in a move that effectively bars Facebook's Free Basics initiative in the country.

Billions inked in deals during Iranian president's visit to France

Billions of dollars worth of aircraft, oil, and car manufacturing deals were signed Thursday during a visit from Iranian President Hassan Rowhani to France, marking thawing relations between Europe and the long-isolated country.

Munich Re: Global natural catastrophe death toll tripled in 2015

About 23,000 people died in natural catastrophes over the course of 2015, more than triple the equivalent death toll in 2014, German reinsurance company Munich Re announced on Monday.

Croatian president to attend Atlantic Council Energy and Economic Summit in Istanbul

The summit, whose theme is "Building Stability and Business Resilience in Volatile Times," will bring together nearly 600 participants from more than 40 countries, 

Croatia ranks 40th in Doing Business ranking prepared by WB

In the latest report, Croatia is short of 72.71 points to reach a maximum 100 points, while it lacked 72.50 points in the previous period, ...