Economy News in English
Latest economy headlines from Dutch news, translated into English.
UK eases sanctions on certain Russian products
The United Kingdom has eased sanctions on specific Russian energy products, allowing the import of diesel and kerosene refined abroad from Russian crude oil. This policy shift permits these refined fu...
Unclear where billions in defense funds are being spent
The Dutch Ministry of Defense is facing criticism for a lack of transparency regarding the expenditure of billions of euros on equipment and services. Reports indicate that the department frequently u...
Despite cabinet plans, the number of civil servants continues to rise
The number of civil servants in the Dutch central government continues to rise despite successive cabinets' efforts to reduce staffing levels. According to a report by the Netherlands Court of Audit, ...
Defense takes risks with procurement without a tender
The Netherlands Court of Audit warned that the Ministry of Defense is taking significant risks by bypassing public tender procedures and awarding procurement contracts directly. President Pieter Duise...
FNV announces nationwide public transport strikes
The Dutch trade union FNV has announced a nationwide work stoppage in public transport across the Netherlands. The specific date for the strike is expected to be revealed later this Wednesday.
Weesp: city of pleasure for 671 years
Weesp has a long history as a center for pleasure-related industries, predating Amsterdam's reputation for legal stimulants and entertainment. For over 670 years, the town has generated economic value...
Mortgage rates rise sharply with no end in sight: house prices could come under pressure
Mortgage rates are rising rapidly as lenders respond to inflation concerns and expected central bank interest rate hikes. This upward trend is likely to continue, potentially putting downward pressure...
Samsung workers prepare for 18-day strike
Approximately 48,000 Samsung employees are preparing for an 18-day strike after the company failed to reach an agreement regarding bonuses. The labor union announced the action following unsuccessful ...
Dutch consumers still spending as much despite energy crisis
Dutch consumer spending remains stable and resilient despite the ongoing energy crisis. This stability persists even as consumer confidence has declined significantly due to geopolitical tensions in t...
More frequent inspections of rental homes: ‘We see distressing situations’
The Dutch Rent Tribunal conducted more than 100 architectural inspections per week last year as complaints regarding poor maintenance in rental properties continued to rise. Common issues reported by ...
EU reaches provisional agreement to finalize trade deal with US
The European Union has reached a provisional agreement on legislation to abolish import duties on goods from the United States. This move is a key component of the trade agreement established between ...
Anke (79) has been fighting for Amsterdammers on benefits for 50 years: ‘Many clients are afraid of civil servants. We are not’
Amsterdam should have its own technical university: city’s tech position under pressure
From ‘Zeeman shame’ to hip brand: departing CEO on a decade of transforming the discounter
The departing CEO of the Dutch discount retailer Zeeman reflects on his ten-year tenure transforming the brand's image from an embarrassing low-budget store into a trendy label. Through strategic inte...
New York art auctions make comeback with record prices
The spring art auctions in New York are experiencing a significant comeback with record-breaking sales for artists like Jackson Pollock and Mark Rothko. In May alone, twelve pieces sold for over $30 m...
Tata Steel welcomes EU Parliament support to limit steel imports
Tata Steel Nederland has welcomed the European Parliament's decision to halve current steel import quotas. This measure aims to protect the European market from global steel surpluses originating outs...
Couple living in tent on Kloveniersburgwal for months
A homeless couple has been living in a tent on the Kloveniersburgwal in Amsterdam for several months, prompting the city to initiate a formal process for its removal. While local residents generally e...
New Princess Beatrix School building in Heemstede significantly more expensive due to rising construction costs, more students, and more expensive materials
The construction of the new Prinses Beatrix School in Heemstede is expected to be significantly more expensive than originally planned. The municipal executive has requested an additional 1.4 million ...
Amsterdam distributes 2,000 emergency kits to low-income residents
The municipality of Amsterdam will distribute 2,000 emergency kits to low-income households registered with the Food Bank starting this summer. These kits, containing items like emergency radios and f...
First cars also becoming home batteries: 'Helps against overloaded power grid'
Electric vehicles can now be used as home batteries to supply energy back to the power grid, helping to alleviate grid congestion. This new technology is currently limited to a single car brand and on...
Schiphol queues resolved, but behind-the-scenes problems remain
Queues at Schiphol Airport have subsided as of Tuesday, though some travelers arrived early following the previous day's delays. Despite the calm in departure halls, the FNV union has established a re...
Expensive fertilizer threatens European harvest, Brussels provides financial aid
The European Commission has presented an action plan to provide financial support to farmers struggling with high fertilizer prices. The aid package is intended to be ready before summer to protect th...
Tata Steel finds workaround for cheaper steel exports to US via UK
Tata Steel Netherlands has found a way to export steel to the United States with lower import tariffs by using a British sister company. This strategy allows Dutch steel to qualify for reduced US duti...
Two men from Haarlemmermeer and Hillegom arrested for bank helpdesk fraud
Police have arrested two men, aged 21 and 18, from Haarlemmermeer and Hillegom on suspicion of bank helpdesk fraud. Both suspects are currently in custody and being questioned as part of an ongoing in...
Petrol price now also above 2 euros per liter in Belgium
The maximum gasoline price in Belgium rose above 2 euros per liter on Wednesday, marking the first time prices have crossed this threshold since July 2022.
Popular Swatch watches pulled from Dutch stores following sales chaos
Swatch has removed its new Royal Pop watches from three stores in the Netherlands due to safety concerns for staff and customers following chaotic sales. Sales of the collection will resume once the c...
More passengers via Schiphol despite Middle East war
Schiphol Airport recorded an increase in passenger numbers in April compared to the previous year, despite a decrease in travel to and from the Middle East. The decline in regional traffic was caused ...
Auditor finds €67 million in discrepancies in Amsterdam’s financial statements: 'Basics not in order'
Millionth inhabitant expected in 2035, East growing fastest
Amsterdam is projected to reach one million inhabitants by late 2035, with the city's population currently standing at 940,000. Growth is primarily driven by international migration, with the fastest ...
IKEA introduces lingonberry-flavored Swedish meatball lollipop
IKEA is releasing a limited-edition Swedish meatball-flavored lollipop with lingonberry after a positive response to what began as an April Fool's joke. The unique candy will be distributed as a one-t...