© Wikimedia Commons

19. 03. 10. - 10:00

• more Business news...
• RSS Feed Business

19. 03. 10. - 10:00

New framework plan for the Zagreb Stock Exchange

Croatian Times

Indium, a management consulting and investment firm focused on Central and Eastern Europe (CEE), has submitted its framework plan for the Zagreb Stock Exchange (ZSE) from 2010 to 2014 to ZSE's board of directors.

The framework plan was prepared in response to ZSE's call for submission of a ˝short management plan for the next four years˝. The plan proposes a time frame for substantive restructuring.

The Indium CEO's key suggestions focused on increasing transparency and enforcing regulations at the exchange – all with the aim of increasing liquidity.

Indium head Milan Racic said: ˝ZSE cannot be the largest stock market in CEE, but it can be the most-transparent one. Transparency will make its small size an advantage."

Indium's advice to the board was to emulate the Croatian National Bank (HNB) in terms of ZSE's market positioning and branding. The plan claims that HNB currently enjoys an enviable local and international reputation as an honest broker when it comes to monetary policy.

Racic said that the low volume of trading at ZSE meant that price manipulation or at least the perception of price manipulation was a real threat.

He added: "Tell the news like it is – the good, the bad and the ugly. That is the only way to generate long-term credibility. Real efforts to increase transparency and honesty in the functioning of the exchange build credibility, and, over time, trading volume.˝

Racic noted that the groundwork for preparing ZSE for a profitable sale should have started five years ago. He said that preparing a product such as an exchange for sale was not an overnight proposition but a matter of deliberate, sustained and meticulous strategy and execution.

Missing Austrian cyclist found by police this morning in Dabar
After an all-night search, police in Lika-Senj county found this morning (Thurs) the 65-year-old Austrian cyclist who had been reported missing by a friend, 41, last night.

Croatian diaspora in Australia wants to invest in homeland
Croatian President Ivo Josipovic met recently with a delegation of Croatian emigrant entrepreneurs from Australia interested in investing in their homeland.

Former president to take Croatian entrepreneurs to Libya
A group of Croatian entrepreneurs may go to Libya this autumn in a visit organized by former Croatian President Stjepan Mesic.

Gotovina´s trial ends after 2.5 years
The trial of three Croatian generals accused of crimes against humanity during the 1990s war in Croatia ended yesterday (Wed) at The Hague after two-and-a-half years.

Poacher caught at the border with 627 dead birds
An Italian was caught at the Jasenovac border crossing with a van containing 627 dead birds of different species on Tuesday.

Two-thirds of Croatians do not believe fair play occurs in football
Almost two-thirds of Croatians believe that some Croatian Football League (HNL) games have been rigged, the latest GfK research shows.

Prime minister wants better economic relations with Libya
Croatian Prime Minister Jadranka Kosor has expressed satisfaction with her meeting yesterday (Weds) with Libyan Prime Minister al-Baghdadi Ali al-Mahmudi at which the two leaders discussed bilateral economic/commercial cooperation.

Croatian athletes shine at AIFF World Challenge meet in Zagreb
Croatian star athletes Sandra Perkovic and Blanka Vlasic have once again wowed audiences with their remarkable performances at the AIFF World Challenge 2010 over the past two days in Zagreb.

Eighth annual World Theater Festival opens September 17 in Zagreb
The Peeping Tom Collective from Brussels will open the eighth annual World Theater Festival in Zagreb on September 17 with the play "32, Rue Vandenbranden".

Jana bottled water on shelves of second-largest American supermarket chain
Four years after its debut in the American market, Croatian bottled water from the firm Jana is appearing on shelves of the country’s second-largest supermarket chain, Kroger.