Economy News in English
Latest economy headlines from Dutch news, translated into English.
Millions of Europeans have voted on new banknote designs
Six million Europeans have participated in a vote regarding the designs for new euro banknotes, according to the European Central Bank. The bank recently unveiled ten potential designs for the public ...
Tax authorities save nearly 2 million euros on letters and blue envelopes
The Dutch Tax and Customs Administration is saving nearly 2 million euros in printing and mailing costs as fewer blue envelopes are being sent. This decrease is due to nearly four million citizens opt...
Revolution in Dutch festival scene: hunting for dirt-cheap tickets becomes harder
TicketSwap has introduced a new feature allowing festival organizers to set minimum price limits on secondary ticket sales. This change aims to end the practice of dumping tickets at extremely low pri...
Oil prices rise after new escalation in the Middle East
Oil prices increased on Wednesday following a new escalation in the Middle East. Saudi Arabia reported conducting targeted strikes against Iran-backed militias in Iraq, carried out in coordination wit...
KLM maintenance division under enhanced supervision since May
Since May, KLM's maintenance division has been under enhanced supervision by the Human Environment and Transport Inspectorate (ILT). An airline spokesperson confirmed this regulatory development on We...
BMW to cut thousands of jobs starting next year
BMW has announced plans to cut 8,000 jobs worldwide starting next year. The company intends to implement these reductions through natural attrition and voluntary severance programs.
Hurry up with foundation repairs, experts say: Entire neighborhoods at risk of collapsing
Experts warn that nearly 780,000 homes in the Netherlands could face foundation failure within the next 25 years. They urge immediate action to address this nationwide problem, noting that it affects ...
More than half of cars sold will be electric next year
Economists at ING expect that more than half of all new cars sold in the Netherlands next year will be fully electric. This forecast highlights a significant shift in the automotive market towards ele...
Working as a reservist during office hours: it's possible at more and more companies
The Dutch Ministry of Defence has signed covenants with 57 organizations, up from 12 two years ago, to encourage employees to serve as military reservists during working hours. These companies are com...
Brewers sell less alcoholic beer, while non-alcoholic beer grows rapidly
Dutch consumers are purchasing less beer containing alcohol as the trend toward non-alcoholic alternatives grows. The shift indicates that drinking alcohol-free beer is becoming increasingly common ac...
Pressure on maternity care even greater during summer months: 'Quality care no longer possible'
Maternity care in the Netherlands is facing increased pressure during the summer months due to long-standing staffing shortages. This issue is being felt nationwide, with some healthcare providers in ...
Tech hubs Amsterdam and Eindhoven must collaborate to remain digitally sovereign from the US and China
Apple market value breaks 5 trillion dollar mark
Apple's market capitalization has surpassed $5 trillion for the first time, joining chipmaker NVIDIA as the only companies to reach this valuation. Apple recently overtook NVIDIA to become the world's...
Designer Joost on the eternal fame of a banknote: It was truly a puzzle
Amsterdam-based designer Joost Grootens has been shortlisted to design the new euro banknote. He stated that while the project offers little financial gain, he is motivated by the prestige associated ...
'Unprecedented' drought set to cause pain: irrigation bans for farmers and saltwater intrusion for Boskoop growers
Severe drought conditions in the Netherlands have prompted officials to warn that upcoming water usage restrictions could significantly impact farmers and plant nurseries. Authorities are currently at...
ING scanner unable to handle new iDEAL technology
Starting in October, ING customers who rely exclusively on the bank's physical scanner will no longer be able to use iDEAL for online payments. The bank stated it cannot implement the technology requi...
Tech stocks fall worldwide amid growing doubts over AI hype
Global tech stocks are experiencing a significant decline as investor confidence in the artificial intelligence hype begins to wane. This downturn marks a sharp reversal from the earlier strong perfor...
Over 24 hours in the air: new Airbus aircraft immediately sets unprecedented record
The first Airbus A350-1000ULR has set a record by completing a non-stop flight lasting over 24 hours. The aircraft traveled from Melbourne, Australia, to Toulouse, France, during this historic test fl...
Judge corrects minister: decision on Lelystad Airport permit by 2027
A judge has ordered Agriculture Minister Jaimi van Essen to make a decision regarding the nature permit for Lelystad Airport by the end of this year. This ruling overturns the minister's previous plan...
Persistent heat puts pressure on Rhine freight transport
Persistent heat in Europe is causing water levels on the Rhine to drop to historic lows, severely impacting the transport of goods like coal and fuel. This situation is creating significant logistics ...
Coca-Cola revenue grows thanks to higher soft drink sales
Coca-Cola reported increased revenue in the last quarter, driven by higher soft drink sales during the World Cup and the implementation of price hikes. As a major sponsor of the tournament, the compan...
More expensive sportswear and jackets: EU imposes import tariffs on Chinese nylon
The European Union has introduced import duties ranging from 60 to 67.5 percent on Chinese nylon. This measure aims to counter the dumping of low-priced nylon on the European market, which is expected...
Europe must continue to do without liquid gas from Qatar for even longer
QatarEnergy has announced that it will continue to limit liquefied natural gas (LNG) deliveries to Europe due to ongoing conflicts in the Middle East. The company is invoking force majeure, citing its...
J&J settles for 5.5 billion dollars over claims baby powder causes cancer
Pharmaceutical company Johnson & Johnson has reached a $5.5 billion settlement to resolve numerous lawsuits alleging that its baby powder and other products cause ovarian cancer. This agreement aims t...
Fuel slightly cheaper again due to falling oil prices
Fuel prices at Dutch gas stations decreased on Tuesday following a significant drop in oil prices. This market shift occurred after the United States and Iran ceased mutual attacks, leading to lower c...
Philips to receive 186 million euros back in US import duties
Philips has received a 186 million euro refund following the overturning of import tariffs previously imposed by former U.S. President Donald Trump. The Dutch health technology company is among the fi...
Brazil challenges US import tariffs: 'Unjustified'
Brazil has filed a complaint with the World Trade Organization (WTO) regarding import tariffs imposed by U.S. President Donald Trump. The Brazilian government claims that these tariffs are unjustified...
ING expects record number of home sales this year, buyers have higher incomes
ING predicts a record-breaking 245,000 residential property sales in the Netherlands this year. This growth is driven by an increase in housing supply and rising household incomes.
More Dutch people are going on holiday by electric car
More Dutch citizens are choosing to travel by electric vehicle for their holidays, according to data from fast-charging company Fastned. The firm reported that charging sessions by Dutch drivers at it...
Seats in hundreds of Boeing 737 MAX jets may be incorrectly installed
The U.S. Federal Aviation Administration has ordered inspections for 453 Boeing 737 MAX aircraft due to concerns that seats may have been incorrectly installed. The directive affects planes registered...