Economy News in English

US lowers import tariff on products containing small amounts of steel

The United States is reducing high import tariffs previously placed on products containing small amounts of steel, aluminum, or copper. The government is also easing duties on machinery used specifica...

Netherlands leads global chocolate trade: ‘Leading for years’

The Netherlands has overtaken Germany as the world's largest exporter of cocoa products, exporting a total of 12.4 billion euros worth of goods last year. This leading position includes the export of ...

One checkmark and Chris got a job after all: rules of employment plan for the disabled are too rigid

Chris de Boer, who suffers from a rare blood disease, struggled to find employment because government regulations deemed him ineligible for disability job support. After discovering a loophole in the ...

New foundation label surprises buyers after purchase: ‘Bank can suddenly lend less’

The Dutch Homeowners Association warns that a new foundation label is causing unexpected financial issues for homebuyers. Because the label is often only revealed after a purchase, a poor rating can l...

Is Peek & Cloppenburg leaving Dam Square? ‘It will be a fight over who gets to rent here’

De Hypotheker: homebuyers cautious due to rising interest rates

Homebuyers in the Netherlands are becoming more cautious as mortgage interest rates rise due to geopolitical instability in the Middle East. According to mortgage advisor De Hypotheker, the average mo...

Report: night train between Schiphol and Lelystad not profitable

A report by transport company Arriva reveals that the trial night train service between Schiphol and Lelystad is not currently profitable. The pilot program, which operates on Friday and Saturday nigh...

Asscher to help cabinet with Tata Steel greening deal

Former PvdA leader Lodewijk Asscher has been appointed as a ministerial envoy to help the Dutch cabinet finalize greening agreements with Tata Steel Nederland. Minister Stientje van Veldhoven announce...

Confidence overflows at Tomasu soy sauce brewery, but they’re also hitting the brakes: ‘Success? I don’t care’

The founders of the Dutch soy sauce brewery Tomasu are prioritizing quality over rapid expansion despite receiving numerous international collaboration requests. Nominated for the AD Entrepreneur Priz...

Iran must reopen strait, demands Hormuz coalition

A coalition of 40 countries, including the Netherlands, has demanded that Iran immediately reopen the Strait of Hormuz to protect global trade. During a meeting on Thursday, ministers emphasized the i...

Substation to be built on site of WWII monument in Houtrakpolder

A new electricity station, A9 Zuid, will be constructed on the border of the Port of Amsterdam in the Houtrakpolder area. The project requires the relocation of the Lancaster monument, a memorial comm...

Elite athletes' income to be completely overhauled. NOC*NSF: ‘The top priority in elite sports’

The NOC*NSF plans to overhaul the income system for elite athletes by replacing current monthly stipends with a full professional income. The sports federation identifies this financial restructuring ...

Schiphol's 15% noise reduction goal not yet met

Initial estimates indicate that the goal of reducing severe noise nuisance around Schiphol Airport by 15% has not yet been met, according to the Dutch Minister of Infrastructure and Water Management. ...

Parcels from outside the EU to cost 5 euros more from November

Starting in July, packages imported from outside the EU will be subject to a 3-euro import duty, with an additional 2-euro European levy added in November. State Secretary for Finance Eelco Eerenberg ...

Tesla sales rise due to cheaper models in US and Europe

Tesla's electric vehicle sales have increased compared to the same period last year, driven by more affordable models in the US and Europe. This growth suggests the company is successfully overcoming ...

Renovation plan for 90 homes at Pleiadenplantsoen in IJmuiden gets green light

Housing corporation Woningbedrijf Velsen has received approval from tenants to proceed with the renovation of 90 rental homes at Pleiadenplantsoen in IJmuiden. The project aims to improve the quality ...

High tension on the power grid: ‘Building faster than ever, but it is not enough’

Waiting lists for new electricity connections in the Netherlands have reached 15,000, an increase of 3,000 compared to last year. It currently takes more than 45 weeks to obtain a new low-voltage grid...

FNV Tata gauges members' mood: tensions are rising. ‘Management has been greedy, we’ve had years of misery’

FNV union members at Tata Steel expressed significant frustration during recent meetings, citing poor treatment by management and corporate greed. While a low wage offer triggered the discussions, wor...

Klarna warned for violating legal rules on pay-later payments

The Dutch financial complaints institute Kifid has issued a warning to Klarna for violating legal regulations regarding its buy-now-pay-later service. The reprimand follows complaints from consumers w...

City pass holders get discount on energy-efficient refrigerators or washing machines

Amsterdam City Pass holders are now eligible for discounts on energy-efficient refrigerators and washing machines. The initiative aims to help low-income residents reduce their electricity bills by re...

Economy can handle rising energy prices better than at start of Ukraine war

The Dutch economy is now more resilient to rising energy prices than it was during the 2022 crisis following the invasion of Ukraine, according to ING experts. This increased stability is attributed t...

AVROTROS to cut jobs and downsize management due to budget cuts

Dutch public broadcaster AVROTROS is cutting thirteen jobs and reducing its management board from three members to two. These measures follow budget cuts for public broadcasting announced by the previ...

British billionaire sells most expensive house ever for over 300 million euros

British billionaire Nick Candy has sold his property for approximately 309 million euros (270 million pounds), setting a record for the most expensive home ever sold. The transaction was reported by B...

Nearly a quarter million households struggling due to high fuel prices

Nearly 250,000 Dutch households are facing financial distress due to high fuel prices, according to a report by the TNO research institute. While calls for fuel excise tax cuts grow, experts warn thes...

Subsidy for sustainable sports clubs in Haarlem

Sports clubs in Haarlem can now access subsidies to make their buildings more energy-efficient, with the city covering the first ‑10,000 in costs and providing further funding up to ‑100,000. RFC ...

Karremans has no sympathy for trucker highway protests against high fuel prices

Minister of Infrastructure and Water Management Vincent Karremans expressed his disapproval of truck drivers blocking highways during protests against high fuel prices on Thursday morning. The demonst...

Information evening on A9-Zuid electricity station in Spaarndam

Grid operator Tennet and the province of North Holland are hosting an information session about the new A9-Zuid electricity station. The event will take place on April 20 at the Spaarndam Village Cent...

Temporary ban on steel slag extended, but future remains uncertain

The Dutch government has extended the temporary ban on the use of steel slag for another six months. During a debate in the House of Representatives, it became clear that long-term regulations for thi...

Velsen unconcerned about finances after poor BDO rating; no additional cuts expected

The local government of Velsen remains unconcerned despite being ranked as one of the most financially unhealthy municipalities in the Netherlands by accounting firm BDO. The council stated in respons...

Haarlem-based hot school lunch provider TommyTomato declared bankrupt

Haarlem-based school lunch provider TommyTomato has been declared bankrupt following a sudden withdrawal of promised financing. The social enterprise serves warm meals to 30,000 children across hundre...