Economy News in English
Latest economy headlines from Dutch news, translated into English.
Odido CEO 'very happy' company did not pay ransom to hackers after data breach
Odido CEO Soren Abildgaard stated he is satisfied with the decision not to pay a ransom to hackers who stole the personal data of 6.2 million customers. Although the refusal led the group ShinyHunters...
Europe breaks free from Russia, but clean energy lags behind
Following Russia's invasion of Ukraine, the EU introduced the RepowerEU plan to reduce fossil fuel dependence and boost sustainable energy projects. While direct imports have dropped, the European Cou...
Brussels targets rental platforms like Airbnb to tackle housing shortages
The European Commission is proposing new legislation to grant city mayors greater authority to regulate short-term rental platforms like Airbnb to combat housing shortages. The plan aims to provide lo...
Gen Z must work more, says VVD parliamentary leader Ruben Brekelmans: We won't make it on three days
VVD parliamentary leader Ruben Brekelmans has urged a return to the five-day workweek, arguing that the Netherlands cannot function effectively if Gen Z professionals only work three or four days. Fur...
Brekelmans wants FNV at the table but snipes: 'They had to go on vacation for weeks'
VVD politician Brekelmans has publicly criticized the FNV trade union for opposing labor reforms and advocating for a 32-hour workweek. He argues that such policies hinder national economic goals and ...
Jumbo breaks with holy principle of founder Karel van Eerd: ‘Times have changed’
Jumbo CEO Jesper Højer has reported a revenue increase to 6 billion euros for the first half of the year. To improve the supermarket chain's performance, Højer has moved away from a core principle e...
Brussels allows unlimited short-term rentals, unlike Dutch municipalities
The European Commission has proposed new legislation allowing cities to restrict commercial short-term rentals while protecting the right of residents to rent out their primary homes. This creates a p...
Strikers at Garage West: "I normally want to work, but we must oppose the demolition"
Public transport employees across the Netherlands held a nationwide strike today to protest proposed government changes to social security benefits. Workers gathered at the GVB Garage West in Amsterda...
Brussels proposes new plan to encourage governments to purchase within EU
Brussels has proposed new rules for public procurement to encourage EU governments to prioritize quality and sustainability over the lowest price. The initiative aims to boost regional competitiveness...
Amsterdam invests €900,000 in the textile makers of the future
Starting in 2027, the city of Amsterdam will invest €900,000 in a new facility called TextielHub located on Donauweg. This center is designed to support textile makers in developing sustainable and ...
Bridge strike causes cycling exodus across Schellingwouderbrug: "Commute takes twice as long"
Ferry services in Amsterdam have been suspended due to a strike against proposed government cuts to social security benefits. The disruption has forced a large number of cyclists to take longer routes...
UWV does not rule out that errors have crept into many more WIA files
The Dutch UWV is expanding its review of WIA disability files from 47,000 to 73,000 after realizing initial selection criteria were too narrow. The agency will begin a multi-year recovery operation in...
Rising oil price sends European gas prices through the roof: highest in years
Escalating geopolitical conflict in the Middle East has pushed Brent crude oil prices to their highest levels since July, causing a ripple effect throughout global energy markets. This surge has trigg...
Major Dutch bridges in worrying condition due to deferred maintenance
Major bridges across the Netherlands are experiencing safety risks due to deferred maintenance and aging infrastructure that has reached its technical limit. Experts and officials warn that a massive ...
Google makes largest ever European investment in Finnish AI data center
Google is investing 13 billion euros into Finnish data center infrastructure to support its AI services, marking the company's largest European investment to date. The project, which utilizes nuclear ...
House prices to keep rising for the next two years despite larger supply
Rabobank forecasts that housing prices in the Netherlands will continue to rise through 2027 despite an increase in supply from selling investors. Although wage growth supports current transaction lev...
Dutch spending up from last year, especially on sustainable goods
Consumer spending in the Netherlands increased in July, marked by a 3.1 percent rise in purchases of durable goods like vehicles and appliances. Overall consumption grew as households also spent more ...
Households spend smaller share of income on taxes, especially pensioners
Dutch households are paying a smaller percentage of their gross income toward taxes and social security contributions compared to 2011. Pensioners currently face the lowest tax burden, while single-ea...
Morning rush hour remains quiet despite public transport strike
A nationwide public transport strike has led to a surprisingly quiet morning commute, as many workers adjusted their schedules or worked from home. Despite minor incidents on the A10 and A8 motorways,...
Rising oil prices make humanitarian aid more expensive: 'This costs children's lives'
Surging oil prices are significantly increasing the cost of delivering humanitarian aid, forcing organizations to reduce their reach or sacrifice essential services. Higher fuel costs for transportati...
Drought causes significant drop in freight transport on Dutch rivers
Historic low water levels in Dutch rivers during the summer caused a major decline in inland shipping, with cargo volumes dropping nearly 19 percent in August. The crisis particularly impacted interna...
Haarlem municipality spends more on WMO than budgeted for the first time since 2020
Haarlem spent over 32 million euros on WMO social support services last year, remaining under its initial budget for the fifth year in a row. The funding provided essential equipment and household ass...
Silicon Valley was once progressive, but now 'tech bros' are choosing Trump: 'The taboo against being right-wing is gone'
Journalists Laurens Verhagen and George van Hal warn in their book 'De Techbro's' that many in Silicon Valley are shifting toward right-wing politics and authoritarian values. They argue that some tec...
Nationwide public transport strike against social security cuts begins
Public transport workers across the Netherlands have launched a nationwide strike to protest proposed government cuts to social security benefits. The industrial action has led to widespread cancellat...
Opinion: An expensive solution that worsens the problem: Amsterdam at its best
Residents of Amsterdam are criticizing the city's focus on costly architectural aesthetics for infrastructure and the continued development of energy-intensive data centers. They argue that public fun...
58 flights at Schiphol cancelled due to UK air traffic control failure
A technical failure at the UK's National Air Traffic Service has led to the cancellation of 58 flights at Amsterdam Airport Schiphol. KLM has suspended all flights to and from England as the situation...
Wero is coming, but there are fears of higher costs
The Wero payment system is set to replace iDeal in the Netherlands next month, promising better consumer protection and European independence from American providers. While the transition offers new f...
Nationwide public transport strike and roadworks: expect delays
A nationwide public transport strike in the Netherlands has caused widespread service disruptions, leading to the near-total suspension of trains and buses. Simultaneously, critical roadworks and high...
Are younger generations really wealthier? Herman (78): ‘We didn’t have much back then, we made do with what we had’
Data indicates that each successive generation in the Netherlands is wealthier than the last, featuring more home ownership and travel opportunities. However, people interviewed at Rotterdam Central S...
French champagne production nearly halved due to extreme weather
Extreme heat and drought have significantly reduced France's wine production to one of the lowest levels in three decades. The struggling agricultural sector is also facing economic headwinds from dec...