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Croatia - Factors To Watch on Dec 31
ZAGREB, Dec 31, 2008 (Reuters via COMTEX) --
Following are the main news stories, press
reports and events to watch which may affect Croatia's financial markets on
Wednesday.
ZAGREB - Statistics office will release November foreign trade figures
which are likely to show a further widening of Croatia's trade deficit
year-on-year.
PRESS DIGEST
------------
GOVERNMENT INTERVENES TO KEEP LOAN RATES DOWN
Only 24 hours after the biggest Croatian bank Zagrebacka banka announced
that it would raise interest rates on loans to citizens in 2009, the bank
cancelled its decision. Unofficial sources say that Prime Minister Ivo Sanader
personally intervened with Zagrebacka banka CEO Franjo Lukovic.
Jutarnji list, page 6
MOL CONTRACT POSTPONED
The signing of the new INA shareholder agreement between the government
and Hungary's MOL, which was scheduled for Tuesday, fell through since an
agreement couldn't be reached on the details of the separation of the gas sector
from the Croatian oil giant INA. The signing was therefore postponed to
mid-January 2009.
Jutarnji list, page 11
AVERAGE NET SALARY IN ZAGREB UP 6.5 PERCENT
Average net monthly salary in October amounted to 6,207 kuna ($1,201), or
1.4 percent up from September and 6.5 percent up from October 2007. The average
October salary in Zagreb is some 18 percent higher when compared to the average
October salary in Croatia.
Vjesnik, page 8
GDP GROWTH SLOWS DOWN TO 1.6 PCT IN Q3
Croatian GDP growth slowed down significantly in the third quarter of
2008, and amounted to a mere 1.6 percent. Analysts say this is the lowest
year-on-year figure since 2000 and that it could be attributed in large part to
the decrease of personal spending. Analysts expect an even lower figure for the
fourth quarter of 2008.
Poslovni dnevnik, page 2
HIGHER FEES FOR IT SECTOR
According to the new regulation which increases fees for using addresses,
numbers and radio frequency bandwidths, which was proposed by the transport and
telecommunications ministry, mobile phone networks may be required to pay an
extra 250-500 million kuna in fees in 2009. Frequency fees are already a
lucrative form of state revenue, totalling some 263.2 million kuna in 2007.
Poslovni dnevnik, page 4
FIGHT FOR FREE SUNDAY CONTINUES
After the law which effectively bans working on Sundays in the retail
sector finally takes effect, unions announced that they would fight for
extending the provision in 2009 to all sectors where the Sunday ban could be
enforced, primarily in construction, shipbuilding and textile industry.
Vecernji list, page 12
Reuters has not verified the media reports, nor does it vouch for their
accuracy.
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($1=5.168 Croatian
Kuna) Keywords: CROATIA FACTORS/
(Zagreb Newsroom +3851 4899 970, fax +385 1 4899 905; zagreb.newsroom@reuters
.com)
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