New Aman Resort CavtatOne of the most luxurious hotel chains Aman Resort will open a new Resort in Cavtat, south of Dubrovnik, in April 2014. Construction works already started
Germanwings introduces new lines from Split to Germany
German low-cost airline Germanwings from this spring is expanding its operations in south-Croatian market with the center of Split, the introduction of two weeks direct flight to Dusseldorf and Hamburg. In addition, the new summer timetable, Germanwings offers flights from Split to Cologne, Stuttgart, Dortmund and Hannover, several times a week for all of these destinations
Given the fact that the offer of flights Germanwings focused primarily on the largest European business cities, flights from Split to the three German cities are a logical continuation of the business of politics.Specifically, while the other German Hamburg, Europe's sixth largest city, with great commercial and industrial importance, Düsseldorf is the center of Germany's fashion industry and multinational companies. It is significant to note that according to data from the German Statistics Office in 2007. in Germany there are more than 225,000 Croatian citizens, of which in Hamburg and Dusseldorf around 8000. All these data suggest the importance of connecting Split with these large centers, which he Germanwings given its importance in the international air transport.
"Condor is one of the most important customers for nine years. Extremely pleased that we Germanwings operates year round and is one of the top three airlines operating to Split, as with the introduction of even these two new destinations to further confirms," said Lukša Novak , Director Split Airport.New destinations to further confirms, "said
I Boljat from commercial service airport Split stressed that Split airport expects 200,000 passengers on Germanwings flights in 2013th year with the introduction of flights to Hamburg and Düsseldorf.
Germanwings, or daughter-company of Lufthansa, in the last year transported over 175,000 passengers on flights to Split, and this is planned for the further growth of five percent. This is an ambitious plan launched in order to gain new customers in Croatia and, in a few months, and represent the highest quality air supply in this part of Europe.new users in Croatia, in a few months, and represent the highest quality air supply in this part of Europe.
UAE investors gave offer for Queens Beach in Montenegro
Zagreb among Europe's top places to invest in property
House prices Zagreb down, Split up
Banks in Croatia show gross profit of 3.1 bill in the first 9 months
Signs of recovery
With the deterioration of consumer confidence and continued low level of business confidence and a great uncertainty in the overall international environment movement still does not indicate the start of the recovery in economic activity in Croatia, analysts say the Croatian National Bank yesterday published information on economic developments.
They point out that according to the monthly indicators of real activity in the third quarter continued to stagnate, with good tourist season, played a positive role. kept the negative trends on the labor market and inflation rose, reflecting trends in the global markets, especially the prices of energy and food. For cumulative budget revenues continued to record substantial growth, but there was also growth in expenditures, contrary to the original budget. Analysts have suggested that the central bank's monthly data for the third quarter of 2012. point to continued stagnation in economic activity. favorable movements in trade primarily the result of spending by international tourists, and there was an annual increase in the number of tourist nights.
Continued contraction of the construction activity
Industrial production growth in the previous quarter visibly slowed, while the activity continued contraction. Growth in total exports of 4.8 percent (seasonally adjusted) in the third quarter of 2012., compared to the previous quarter, largely acted discernible recovery in exports of ships, and increased slightly and export of oil and petroleum products, while exports of other goods stagnated. warns that during the third quarter of 2012. intensified the negative trends in the labor market.Employment continued to decline rapidly, and unemployment increased, after a temporary stabilization in the period from March to June.
Purchasing power continues to decline
Nominal wages have stagnated since the beginning of the year, while the purchasing power of wages during the third quarter continued to decline. Consumer price inflation has accelerated significantly, causing the annual inflation rate increased from four percent in August to five percent in September. This reflects primarily shocks on the supply , particularly the increase in energy prices and food associated with drought in the summer. fundamental inflation also accelerated, from 1.5 to 1.9 percent. increase in foreign indebtedness during the first half of the 2012th was mainly driven by the central government borrowing, but she continued in July and August. Influenced deleveraging other sectors, total gross debt because during July and August fell by 0.7 billion euros at the end of August totaled 45.8 billion . reduction of the external debt, mainly contributed by the usual seasonal deleveraging of banks.
Deficit of 8.7 billion
Based on these data, the consolidated central government revenues in the first eight months were 3.3 percent higher compared to the same period of the 2011thConsolidated central government rose in turn to one percent, although the budget for 2012. intended to be a significant reduction. overall fiscal deficit declined to 1.5 billion compared to the same period last year, and in the period from January to August stood at 8.7 billion. doing the deficit largely financed by new borrowing, and the debt central government continued to grow strongly, reaching the end of August, 173.3 billion, an increase of 19.4 billion compared to the end of 2011, according to the CNB.
Clinton praises Croatia for big potential
ZAGREB, Oct 31 (Hina) - Croatia has huge potential and the United States is optimistic about its future, the visiting U.S. State Secretary, Hillary Clinton, said at her meeting with Prime Minister Zoran Milanovic in Zagreb on Wednesday, when she also pointed out American companies' great interest in investing in Croatia, the Croatian government stated in a press release.
The U.S. Secretary of State congratulated the Croatian government for the steps it has taken to stabilise the budget.
She said that there was great interest by U.S. companies in investing in Croatia and that the U.S. side was willing to help Croatia with its experience to successfully remove barriers.
Milanovic and Clinton also discussed the forthcoming admission of Croatia to the European Union and the situation in the region. In this context, the premier underlined Croatia's support for its neighbours' Euro-Atlantic aspirations, according to the press release.
"It is Croatia's interest that its neighbours become a part of the European Union," he was quoted as saying. He depicted the EU as a byword for stability.
The two discussed the economic situation in Europe and worldwide and the reaction of the EU and the USA to the fragile global economic situation.
Milanovic thanked the United States for the assistance it has offered Croatia since it gained independence.
He also extended his condolences on the victims of Superstorm Sandy which hit the eastern coast of the USA earlier this week.
Present at the meeting was Croatian Foreign Minister Vesna Pusic, who will host a dinner for Mrs. Clinton later in the evening.
Mrs. Clinton was received by President Ivo Josipovic after her talks with Milanovic.
Merkel wants Croatia in the EU 2013
German Chancellor Angela Merkel says there is no obstacle to Croatia joining the EU next year on July 1.
Speaking to Croatian PM Zoran Milanovic on Thursday, she said: "I count on it that we will be together in the EU on 1 July 2013. We strongly welcome Croatia."
The comments come following media reports that German ratification of Croatia’s entry was in doubt.
But Merkel insisted she thought Croatia would meet all the necessary requirements for entry in time.
Marina for megayachts in SplitWith the Extension of its Marina and the new Riva by 600 m, right in front of the future Hilton Hotel Marjan, Split will get a further new attraction. Along the new Riva a new nautical port with 50 moorings will be realised from which 25 moorings will be dedicated for Megayachts. That will give Split again the chance to compete with the dominating Porto Montenegro when it comes to Megayachts und show its advantages of a Marina very close to a historic old town and a cultural center. The promenade will be widened to 25-35 m and will have new Restaurants, Bars and Cafes. Completion is expected end of 2012.
Pula experiences biggest drop in real estate prices in Croatia
The western town of Pula has seen the biggest drop in real estate prices in Croatia over the past year, according to Crozilla.com.
The information portal said it based its conclusions by comparing the advertised prices of apartments in all of Croatia’s major cities.
Between August 2011 and August 2012, flats in Pula were sold at an average 3.9% lower price.
The average asking price fell to 1,402 Euros per square meter.
The average price asked per square meter in Rijeka was 1,467 Euros, in Zagreb 1,731 Euros, and in Split 2,092 Euros.
Across Croatia prices fell by about one percent between August 2011 and August 2012, compared to 4.4 percent in August 2010, 10 percent in the same month of 2009 and as much as 15 percent compared to August 2008.
Montenegro: Azerbaijan state oil company in controversial resort investment
It seems unlikely that Butlins, ClubMed or Westin will branch into the hydrocarbons sector any time soon. But the State Oil and Company of Azerbaijan Republic (Socar) is planning to invest €258m to turn a plot of military land in Montenegro into a tourist resort.
But it remains to be seen whether Socar will complete the deal – which has run into a legal challenge – let alone make it pay, given its lack of experience in international tourism.
On July 5, the Montenegrin government announced that it was concluding an agreement with Socar on the 90-year lease of a 241,695 sq metre barracks site at Kumbor, near Herceg Novi, on the scenic Bay of Kotor.
The Azerbaijani group is committed to invest at least €52m in the first four years of the lease, or €258m in the first eight years. It will also pay a fixed rent of €1 per square metre in advance for 45 years of the lease, and a variable rent of 5 per cent of profit.
The process for the conclusion of the contract is currently underway, and the final lease agreement and investment plan are still being drawn up, so details are still patchy. Mammad Nazaraliyev, legal counsel at Socar, told beyondbrics that the company was considering a variety of options, and that a time-frame had yet to be determined.
Socar has a letter of intent from Spain’s Meliá Hotels, and said in its bid that it plans to work with Vizzion Architects, which has experience of developing high-end resorts, giving some idea of what form the project may take.
The company’s choice of a strategically-important coastal spot in a region in which it is also hoping to benefit from pipeline development – including the Trans Adriatic Pipeline (TAP), in which Montenegro has been increasingly involved – may cause rumblings in the Balkans.
But Petar Ivanovic, chief executive of the Montenegrin Investment Promotion Agency, insists there are no links between tourism and oil in the plan. He says the land remains the property of the government, and the tender specified not only that the area must be developed as a resort, but set out the parameters of construction.
Ivanovic adds that Socar’s move into tourism in Montenegro is no more unusual than that of Canadian metals magnate Peter Munk, the chief investor behind Porto Montenegro, one of the country’s most high-profile resorts (which is also located on military land, just across the bay from Kumbor).
Meanwhile, the award of the tender to Socar faces a legal challenge in Montenegro’s Supreme Court by the losing bidder, NCH Capital, a US-based investment fund with substantial interests in the Balkans. It offered more cash than Socar – €2 a square metre in rent plus 5.1 per cent of the profit.
NCH lodged an official complaint about the Azerbaijani bid, which was rejected by the Privatisation Council on the grounds that it was submitted too late, a claim that NCH rejects.
A NCH representative told beyondbrics that its claim rests on two points: that Socar’s bid should have been ruled out on technical grounds; and that NCH’s was "superior from a scoring perspective both quantitatively and qualitatively”.
He said: "You don’t see BP and Exxon building resorts, and there’s a reason for that.”
But Montenegrin officials robustly defend the tender process. Ivanovic told beyondbrics that the process had been transparent and the decision approved by several Montenegrin institutions including parliament. Given the weight of official backing, it seem unlikely that NCH’s legal action will succeed.
As for the Azeris, the project offers an interesting opportunity to diversify.
"One of the Socar’s strategic objectives in the long-term perspective is the expansion of its business in different regions, including Eastern Europe,” Nazaraliyev said. "In strict compliance with this strategic objective, Socar considers the opportunity offered by the Montenegro government as a chance to continue its successful projects.”
But Socar’s current tourist operations are limited to several complexes in Azerbaijan primarily intended for the use of oil workers and their families. It will need all the help of the expert partners it is planning to hire if it is to develop a worth rival to Porto Montenegro.
Croatia among five top countries
Croatia has been ranked among the top five destinations in the world to retire in, according to internet giant Yahoo.
The American multinational internet corporation has ranked the top five countries in the world for spending one's retirement years in, reports website dnevnik.hr, with Croatia, together with France, Italy, Ireland and Spain making up the top five.
"Although Croatia has an unusual and complicated history, the people are proudly open and friendly and it has incredibly beautiful nature," writes Yahoo, adding that the region of Istria has a surreal beauty.
"Wherever you look in Istria, something is growing, either olives, grapes, figs, tomatoes, pumpkins or blackberries," said Yahoo.