Economy News in English

Over nine thousand fewer flights at Schiphol due to cold and war

Schiphol Airport processed over 9,100 fewer flights in the first half of this year compared to the same period in 2023. These cancellations were primarily caused by severe winter weather and flight re...

Qantas ultra-long-haul flight travels directly from France to Australia

Qantas has completed a 19-hour non-stop test flight from France to Australia using its new Airbus A350-1000ULR aircraft. The airline plans to launch commercial ultra-long-haul flights with this plane ...

Lindt sued in US over alleged child labor in African cocoa supply chain

Swiss chocolate manufacturer Lindt & Sprüngli is facing a lawsuit in the United States over allegations that it misled consumers regarding its efforts to combat child labor in the cocoa supply chain ...

South Korean tycoon to pay 555 million to ex-wife in divorce of the century

A South Korean court has ordered SK Group chairman Chey Tae-won to pay 555 million euros to his ex-wife, Roh Soh-yeong, following a nine-year legal battle. This settlement marks the conclusion of what...

US announces new import tariffs of 10 and 12.5 percent

U.S. President Donald Trump has announced new import tariffs ranging from 10 to 12.5 percent on 60 trading partners, including the European Union, China, and the United Kingdom. The measures were conf...

22 hours cramped on a plane is the future, but is it healthy?

Qantas is preparing to launch Project Sunrise, a non-stop 22-hour flight between London and the east coast of Australia. While a technological milestone, health experts warn that such long-duration fl...

AEX closes significantly lower, oil prices surge due to war with Iran

The AEX index closed significantly lower on Thursday amid a broader negative sentiment across European stock markets. Investors reacted to rising oil prices driven by the ongoing conflict in the Middl...

For the first time in twenty years we are getting new euro banknotes, these are the designs we can choose from

The European Central Bank has unveiled new design options for upcoming euro banknotes, marking the first major update in twenty years. European citizens are invited to participate in a public vote to ...

Visitors disappointed by cancellation of Kwaku Summer Festival: "It must stay"

The Kwaku Summer Festival will cease operations in its current form after this year due to rising organizational costs and stricter permit requirements. Despite deep disappointment from visitors and p...

Amsterdam stock exchange misses out on listing of spun-off Unilever unit

Unilever's divested food division will be listed on the London Stock Exchange instead of the Amsterdam exchange. The American company McCormick, which is acquiring a significant portion of Unilever's ...

Oil price back above 100 dollars per barrel, the Netherlands feels it at the pump

The price of Brent crude oil has risen above 100 dollars per barrel, leading to an immediate increase in fuel costs across the Netherlands. As a result, the price of a liter of Euro95 gasoline has rea...

Three questions about gas generators: how can a grid operator choose gas right now?

Although the Netherlands is transitioning away from gas, grid operators in the Utrecht region are planning to use gas generators to produce electricity. This article addresses the apparent contradicti...

ECB leaves key interest rates unchanged amid Iran war jitters

The European Central Bank has decided to keep its key interest rate at 2.25 percent following a previous increase in June. This decision allows policymakers additional time to evaluate how rising ener...

Renovated fixer-upper increased in value by nearly half last year

Renovated fixer-upper homes in the Netherlands saw an average value increase of 178,000 euros last year. According to the NVM real estate association, this represents a value growth of nearly 50 perce...

British Prime Minister cuts taxes for pubs, clubs and music venues

The new British Prime Minister Andy Burnham has announced a 20 percent tax reduction for pubs, clubs, and music venues across England. This measure is expected to benefit 32,000 businesses, providing ...

Millions in debt, lawsuits and a forced departure: restaurateur Entourage nearly collapsed due to the W Hotel crisis

Gasoline prices creep toward new record amid Middle East war following fresh attacks by US, Iran and Houthis

Escalating conflict in the Middle East has caused fuel prices in the Netherlands to rise, with the recommended price for Euro95 reaching 2.624 euros per liter. This figure is nearing the historical re...

EU fines Google 890 million for favoring its own services

The European Commission has fined Google 460 million euros for violating the Digital Markets Act by favoring its own services in Google Search results. This penalty addresses anticompetitive practices...

Closure of Strait of Hormuz boosts oil flow through Port of Rotterdam

The Port of Rotterdam has experienced an increase in oil and petroleum product transshipments over the past six months due to the blockade of the Strait of Hormuz. This disruption in global shipping r...

Data centers and air conditioners drive global power demand despite Iran war

Global electricity demand is rising due to the growth of industries, electric vehicles, air conditioning usage, and data centers. This increased consumption coincides with higher energy prices driven ...

June saw highest absenteeism in twenty years, mainly due to long-term leave

Absenteeism in the Netherlands reached 4.8 percent in June, marking the highest level for that month in two decades. This increase is primarily attributed to long-term leave and stress-related health ...

Number of companies in the Netherlands increases: more starters and fewer closures

The number of businesses in the Netherlands is increasing as more people start new ventures and fewer choose to close existing ones. This growth trend is observed across most of the country, with nota...

More closures loom on Merwede bridge: bridges and tunnels are aging

Experts warn that the sudden truck ban on the Merwedebrug is likely to be a recurring issue as aging infrastructure across the Netherlands requires urgent maintenance. Upcoming repairs on various brid...

Half a million households unable to pay monthly energy bills

Research from TNO and CBS indicates that approximately 500,000 households in the Netherlands struggle to pay their monthly energy bills. Many of these households face a monthly shortfall of over 50 eu...

Half a million households in energy poverty spending increasingly more on gas and electricity

Approximately half a million households in the Netherlands are facing energy poverty, spending 12 percent of their income on gas and electricity. These households now face an average annual shortfall ...

Investments in robots and robotaxis pressure Tesla's profits

Tesla reported a decline in second-quarter revenue to over $28 billion as the company significantly increases investment in AI-driven autonomous taxis and humanoid robots. These heavy expenditures are...

EU approves major acquisition of Warner Bros. by Paramount

The European Commission has conditionally approved the acquisition of Warner Bros. Discovery by Paramount. Both companies have agreed to comply with the set conditions to proceed with the merger.

Dutch State pauses sale of remaining ABN AMRO stake

The Dutch state has temporarily halted the reduction of its stake in ABN AMRO. The government currently retains a 20.5 percent interest in the bank through share certificates.

Porsche to cut thousands more jobs

German automaker Porsche plans to cut thousands of additional jobs, building on the 3,900 layoffs previously announced by the company. The move follows reports from German media regarding the manufact...

Former official ordered to pay 400,000 euros for giving homeless shelters to acquaintances

A former civil servant in Rotterdam has been ordered to pay 380,000 euros in damages after fraudulently allocating homes intended for the homeless to friends and family. The official misused eight pro...