Economy News in English

Van Veldhoven after fossil fuel summit: We can start building the ‘house’

Dutch Climate Minister Stientje van Veldhoven announced that an international conference co-organized by the Netherlands and Colombia has reached a significant milestone in phasing out fossil fuels. S...

Fed Chair Powell to remain on US central bank board after term expires

Federal Reserve Chair Jerome Powell has announced his decision to remain on the central bank's board of governors after his current term as chair concludes. This rare move is intended to safeguard the...

Criticism of Hegseth over costs of US war with Iran

US lawmakers questioned Defense Secretary Pete Hegseth regarding the financial costs of the conflict with Iran during a House of Representatives budget hearing. While the session was intended to revie...

Nostalgic candy shop Ieteke in Santpoort closes its doors after five years: ‘It’s not yet a final goodbye’

Annemarie and Fedor Haaker have closed their nostalgic candy store, Ieteke, in Santpoort-Noord after five years of operation. The owners decided to shut down because the business's turnover no longer ...

Brent oil price hits highest level since June 2022

The price of Brent oil reached its highest level since June 2022 on Wednesday. This increase is attributed to the ongoing geopolitical stalemate in the conflict between the United States and Iran.

Oil and gas companies TotalEnergies and BP see profit jump since war in Iran

Oil and gas companies TotalEnergies and BP reported a significant surge in profits during the first quarter of 2026. This financial growth is attributed to rising oil prices resulting from the conflic...

'Five hundred additional hectares for industrial land'. Businesses north of the North Sea Canal want to grow

Entrepreneurs in the region north of the North Sea Canal are calling for 500 hectares of additional industrial land to match local housing growth. Economic Forum chairman Friso de Zeeuw emphasizes tha...

Rental supply continues to shrink despite changes in rent law, researchers say

ABN AMRO researchers warn that the supply of middle-segment rental housing will continue to shrink as long as the government maintains high taxes on private rental properties. Despite recent changes i...

Iraq war cost US $25 billion so far, Pentagon says

The Pentagon reports that the United States has spent $25 billion so far on the war against Iran. This expenditure includes significant costs for ammunition and missiles used in attacks since the conf...

Cleaner sick or on vacation? Continued pay is legally required but almost never happens

A study by Utrecht University shows that 90% of Dutch households fail to pay their domestic cleaners during illness, and 70% do not pay during vacations. Despite legal requirements for continued wage ...

Katwijk fishing industry in distress, affecting IJmuiden; South Holland province steps in

High fuel prices are putting significant pressure on the fishing industry in Katwijk and Scheveningen, forcing many vessels to remain docked. This economic strain also affects the port of IJmuiden, wh...

OPEC loses key member, benefiting gas prices

The United Arab Emirates has announced its withdrawal from OPEC, representing a significant blow to the oil cartel. This decision is expected to have international implications and may lead to lower g...

Sick domestic worker wrongfully denied pay: we've known for years but do nothing

A 2024 study by Utrecht University sociologist David de Kort reveals that approximately 90% of Dutch households fail to pay domestic workers during illness. Despite this being a legal requirement sinc...

Grid operator not required to connect data center to congested power grid

A Dutch court ruled on Wednesday that grid operator TenneT is not required to provide an immediate power connection to a large data center in an area with an overloaded grid. The ruling establishes th...

MEPs allowed to be replaced during pregnancy

The European Parliament has overwhelmingly approved a change to EU electoral law that allows pregnant MEPs to be replaced during their maternity leave. The decision passed with 616 votes in favor and ...

Other countries not yet following UAE in exiting oil companies

Russia, Kazakhstan, and Iraq have announced they will not follow the United Arab Emirates' decision to exit OPEC and OPEC+. The UAE's departure from the oil-producing organizations was announced on Tu...

Report: less rainforest lost in 2025, but fire risk grows

The World Resources Institute reports a 36% decrease in tropical rainforest loss compared to the previous record-breaking year. Despite this decline, the overall rate of loss remains high and the risk...

Meta reprimanded: Children under 13 join Instagram and Facebook too easily

The European Commission has criticized Meta for failing to adequately prevent children under the age of 13 from accessing Facebook and Instagram. Despite the company's own terms and conditions, its la...

France announces deadlines for phase-out of coal, oil, and gas

France has introduced a roadmap to phase out fossil fuels, becoming the first country to present such a plan at a dedicated conference. The country aims to eliminate coal by 2030, followed by oil in 2...

Business owners take legal action to speed up Food Center development: 'City fails to intervene'

Adidas revenue rises significantly as it looks forward to World Cup

Adidas reported a significant increase in revenue during the first quarter of the year, driven by strong demand for sportswear. The German manufacturer highlighted particularly high sales in its footb...

Brussels pushes for rapid rollout of age verification app in European countries

The European Commission has advised member states to implement an EU age verification app for websites and social media platforms by the end of the year. The app is intended to provide a standardized ...

Why Europe seeks protection against cheap Chinese imports with new laws and tariffs

Europe is implementing import levies and new legislation to protect its domestic industries from a surge of cheap Chinese products, such as electric vehicles and solar panels. These measures aim to sa...

Dutch minimum wage among highest in EU, rose 33 percent over past five years

The Netherlands has one of the highest minimum wages in Europe, trailing only Luxembourg and Ireland. Recent data from the Central Bureau of Statistics (CBS) shows a slight decrease in the number of w...

Employees striking less: ‘More satisfied with pay than in previous years’

Employees in the Netherlands went on strike less frequently last year than in 2024, although the actions that did occur lasted significantly longer. A total of 23 strikes resulted in the loss of nearl...

KPN connected tens of thousands of households to fiber in the first quarter

Dutch telecom provider KPN announced on Wednesday that it connected 86,000 households to its fiber optic network during the first quarter. This expansion reflects the company's ongoing efforts to upgr...

Crisis

The text illustrates a pervasive sense of crisis by listing various concurrent challenges, including fuel and gas shortages, environmental pollution, and a housing deficit. It metaphorically compares ...

Number of strikes limited in the Netherlands: 'We remain a polder country'

The number of strikes in the Netherlands remained stable last year, with an average of 23 occurrences consistent with the past 25 years. Despite unrest in sectors like education and industry, the figu...

Minimum wages rose faster than collectively agreed wages over the last five years

In 2025, approximately 610,000 workers in the Netherlands earned the minimum wage, accounting for 6.7% of all jobs. Data shows that minimum wage increases have outpaced average collective labor agreem...

Haarlem's only motorhome site to close as municipality buys land along Randweg

The municipality of Haarlem has purchased the land occupied by Urban Camperspot Haarlem & Zandvoort, which will result in the closure of the city's only motorhome site at the end of the year. This acq...