Over 9 billion kuna was spent in Croatia during the World Cup in Russia

first_imgLate last night, according to the Ministry of the Interior, Vatrene was greeted by a total of about 550 people. Incredibly! Undescribable!This is the best advertisement ever for Croatia, which has been written about, published on social networks, researched in the world of the Internet like never before.Two days ago, Croatia was mentioned in the media 30% more than after the semifinals all over the world, according to Mediatoolkit data. The numbers are huge and have never been recorded in the history of Croatia – more than ever before the semifinals, said Tomislav Grubisic from Mediatoolkit, a tool that monitors what is written about anyone on the entire Internet in real time, and added: “According to these statistics, more texts about Croatia will be published on the Internet today than have been published in its entire history since its founding. ” Grubisic pointed out. How it will be today and these days after such a welcome in Zagreb and the whole of Croatia, we can only dream and find it difficult to measure everything.This is just another proof that athletes are our best ambassadors and that we need to focus much more seriously and strategically on how to connect and promote tourism, culture, economy through sports success…And as sport, and especially football as the “most important sideline in the world”, attracts the masses, they thus directly affect the increase in consumption and bring a significant impetus to the economy. Thus, according to the estimates of the Croatian Chamber of Commerce, HRK 9.277.224.291,92 was spent in Croatia during the World Cup in Russia.Consumption related to major sports competitions is growing by about 10 percent, mostly in the categories of audio-visual equipment or television, sports equipment, ie fan props, travel arrangements (charter flights organized to go to matches) and in the category of food and beverages; primarily snacks, beer and other alcoholic beverages. “Consumption in retail trade compared to the same period last year was increased, especially on the day before the matches and on the day of the matches, on average between 11 and 15 percent”, She pointed out Director of the Trade Department of the Croatian Chamber of Commerce Tomislav Ravlić based on fiscalization data for the period from June 15 to July 15, 2018, how long the World Cup lasted.Compared to the same period in 2017, Ravlić points out, last year in this period the turnover in retail trade, according to the data from the fiscalization system, was lower by about 5 percent (4,56%).  “In the hospitality industry, for example, on the day of the matches, the turnover grew on average by 10 percent and more. The record was set on the day of the semi-finals in the match against England when the turnover in the hospitality industry grew by 17 percent, while during the finals the increase was 13 percent.”, Ravlić points out. A total of HRK 878.824.104,83 was fiscalized in the hospitality industry, or about 3% more than in the same period last year.Croats ate more than 10 million PIK kebabs during the championshipPIK reported that during the World Cup, PIK Vrbovec sold more than 10 million kebabs, more than 2,2 million packs of cold cuts and over 2 million sausages.Although the numbers themselves sound impressive they gain even more weight when compared to sales results at Christmas time when sausages are traditionally eaten in increased quantities. Namely, during Advent in Zagreb, Croats ate more than 700.000 PIK sausages, and during the championship that number increased almost 3 times more, more than 2 million sausages were sold. When it comes to cold cuts, over 2,2 million packs of cold cuts were sold during the World Cup. Sales of durable cold cuts are growing by 30%, and the first choice of consumers are Winter and Tea. From PIK Vrbovec, they say how it is the company in this period recorded an increase in the volume of products sold by more than 10%.Related news:”CROATIA FULL OF EXCELLENT PLAYERS” CNTB CAMPAIGN ON SOCIAL NETWORKSTHIS SHORT STORY WILL BEST SHOW YOU WHAT CROATIA HAS MADE FOR TOURISM IN RUSSIACROATIA – FULL OF CHAMPIONS, A CAMPAIGN THAT SHOULD START TODAY!last_img read more

Hungary’s Orban gets sweeping new powers in virus fight

first_img“At the end of the emergency, all powers will be fully restored” to parliament, said Orban after the vote, dismissing opposition fears of a long-running period of rule-by-decree.The vote marked another controversial milestone in Orban’s fractious decade in power. Since the self-styled “illiberal” nationalist won power in 2010, he has transformed Hungary’s political, judicial and constitutional landscape.The 56-year-old has frequently clashed with European institutions, NGOs and rights groups, with Brussels suing Hungary for “breaching” EU values — charges fiercely denied by Budapest.The EU’s Justice Commissioner Didier Reynders said Monday the European Commission “evaluates the emergency measures taken by Member States with regard to fundamental rights”.This was “particularly the case for the law passed today”, he added.Among the international bodies expressing concern over the bill before it became law were the UN human rights office, the Council of Europe, and the Organization for Security and Co-operation in Europe.Orban has given short shrift to criticism of the coronavirus law, accusing critics of alarmism and telling “European nitpickers” to let Hungary defend itself against COVID-19. ‘Imaginary demons’Justice Minister Judit Varga told foreign reporters last week that the constitutional court could provide oversight, while parliament could revoke the decrees at any time. The opposition were “fighting imaginary demons and not dealing with reality,” she said.A government spokesperson Zoltan Kovacs said Monday that the decrees were also time-limited by the pandemic itself, which “hopefully ends one day”. Last week, opposition MPs warned they did not trust Orban not to abuse indefinitely granted special powers. They refused to support fast-tracking the bill without time deadlines. Many cited a so-called “state of crisis caused by mass migration” that Orban’s ruling Fidesz party declared in 2016 and which remains in place, despite migration numbers to Hungary having fallen sharply since then.  Hungary’s parliament endorsed a bill on Monday giving nationalist premier Viktor Orban the sweeping new powers he says he needs to fight the new coronavirus pandemic.Critics at home and abroad have condemned the “anti-coronavirus defense law”, saying it gives Orban unnecessary and unlimited power and is a means of cementing his position rather than battling the virus.After declaring a state of emergency on March 11, the new law gives Orban the power to indefinitely rule by decree until the government decides the emergency is over. ‘Principles of democracy’Akos Hadhazy, an independent MP, told AFP that Orban did not need any “extraordinary empowerment” as his party already controlled parliament. Instead, he said, the ruling party had set a “trap for the opposition”. Pro-government media had accused the opposition of encouraging the virus by rejecting the bill.”Beyond further increasing his power, Orban’s goal was to present a bill that cannot be supported by opposition MPs, so that they can be blamed throughout the emergency for not supporting the government in times of crisis,” said Andras Biro-Nagy, an analyst at the Budapest-based Policy Solutions think-tank.”National unity is not Orban’s way of doing politics,” he told AFP.The fiercely anti-immigration Orban has blamed migration for bringing the virus to Hungary, saying “primarily foreigners brought in the disease”.The first two confirmed coronavirus cases in the EU member state of 10 million were Iranian students.Hungary has since reported a total of 447 cases with 15 deaths. More than 13,300 tests have been carried out, the government said Monday.”The press and non-governmental organizations now have a particularly important role to play in controlling the government,” said a statement after the vote by the Hungarian Helsinki Committee refugee rights group. center_img It removes the current requirement for MPs to approve any extensions to decrees. Elections cannot be held either during the emergency period.It also introduces jail terms of up to five years for anyone spreading “falsehoods” about the virus or the measures against it, stoking worries for press freedom.The measures come into effect as of midnight on Monday.The parliament, where Orban’s Fidesz party enjoys a dominant two-thirds majority, passed the bill by 137 votes to 53. Topics :last_img read more

IPE Awards Seminar: Too much self-interest in banking dangerous

first_imgToo much self-interest in banking makes the sector dangerously fragile, exposes the public to unnecessary risks and distorts the economy, according to Anat Admati, George GC Parker professor of finance and economics at the Graduate School of Business at Stanford University in the US.Addressing the IPE Awards Seminar in Noordwijk, the Netherlands, yesterday, she said: “There are things to do about [the failing banking system], but they may not get done, unfortunately. There is a lot of politics and a lot of confusion and a lot of self-interest in this.”That is a governance problem, and it goes all the way to the politicians. Key to the observation is that banking is not a system, right now especially, where markets work. It requires firm and effective regulation, sensible regulation.”The root cause of the problem is that banks hold a lot of leverage, unborrowed funding, with the loss-absorbing equity ratio on their balance sheets being too small. “The credit crunch did happen not because they had too much equity but because they had too much debt,” she said. “Banks make bad lending decisions – too little or too much, boom and bust or too much and too little at the same time.”She added that, “even now, the continued weakness and distorted incentives of banks dampen new lending that would help economic recovery”.Instead of the small amounts of equity banks currently hold – around 5% – Admati suggested they ought to hold an equity ratio of 20-30%.Holding more equity is not expensive she said.In addition, some of the risks taken in the current banking sector, such as excessive leverage risks, benefit only the very select few – while many will suffer.And while regulators have authority, she accused them of lacking the political will to change things.Admati believes some banks may no longer be viable.In the preface for her book ‘The Bankers’ New Clothes’, published earlier this year, she writes: “A cleanup of such banks and of the financial system is important even if it means eliminating or shrinking some banks.”Hiding from reality and providing public support to banks that cannot otherwise survive or which are too big and too complex to control, as governments all over the world are doing, is dangerous and expensive.”last_img read more

Ferguson Given Standing Ovation on Old Trafford Return

first_imgThere was also applause after 27 minutes, in recognition of the 27 years the Scot was in charge of the club.Ferguson was described as “truly one of our own” and “without question one of the greatest figures in the club’s history” by the stadium announcer as he made his way to his seat. He applauded and pumped both fists to respond to the crowd’s ovation.Ferguson had emergency surgery for a brain haemorrhage on May 5 and was in intensive care for several days at Salford Royal Hospital. His last public appearance at Old Trafford was on April 29, when he presented former Arsenal manager Arsene Wenger with a commemorative trophy.Speaking on MUTV before the match, Scot Ferguson said: “I’m a bit nervous, to be honest with you, maybe a bit tense really because the last game was Arsenal back in April.“It was a long time but it’s great to be back. It’s great to go back to the stadium and it’s going to be quite emotional for me when the game starts.“It had to happen some time and I’ve been looking forward to it. It was important getting the right time and the right rest before coming to a game.”Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Alex Ferguson Former Manchester United manager Sir Alex Ferguson was given a standing ovation as he returned to Old Trafford for the first time since having emergency brain surgery in May.Ferguson, 76, attended United’s match against Wolves and was warmly applauded as he took his seat in the directors box shortly before kick-off.“It’s obviously been a long journey,” he said before yesterday’s game. “I’m making steps forward, doing what the doctors tell me, it’s really good.”last_img read more