Economy News in English
Latest economy headlines from Dutch news, translated into English.
Energy agency warns of major energy crisis due to Middle East war
The International Energy Agency (IEA) has issued a warning regarding a potential major energy crisis triggered by the ongoing conflict in the Middle East. The agency advises governments and citizens g...
US considers lifting Iranian oil sanctions
The US Treasury Secretary is considering a temporary exemption on sanctions for Iranian oil currently at sea. This measure would allow for the sale of oil that is normally prohibited under existing ec...
'Keep the steel industry in the Netherlands, but cleaner, greener and circular!', Tata Steel urges in new petition
Tata Steel has launched a petition calling for the preservation of the Dutch steel industry while transitioning toward cleaner, greener, and circular production methods. Within just one day of its rel...
Brussels does not intervene more rigorously to lower energy costs
The European Commission has announced measures for clean energy following an EU summit, but will not take immediate action to reduce energy costs. This decision follows extensive discussions among mem...
D66 critical of Heinen, who mentioned financial setback in interview
The political party D66 has criticized Finance Minister Eelco Heinen for casually mentioning a budget setback of over 1 billion euros regarding disability benefits during a recent interview. During a ...
KLM announces hiring freeze due to soaring fuel prices
KLM has announced a temporary hiring freeze and a reduction in business travel due to rising fuel costs linked to the conflict involving Iran. The airline is also suspending the hire of external consu...
CEO Ben Smith sounds alarm over Middle East crisis: Hiring freeze at KLM
Air France KLM CEO Ben Smith has warned of financial pressure resulting from the conflict in the Middle East, leading the Dutch division KLM to implement a hiring freeze. To save costs, the airline is...
Cabinet to seek solution for unwanted childbirth fine
The Dutch government is seeking an alternative to a proposed reduction in benefits for women on maternity leave, a measure critics have labeled a 'childbirth fine.' The decision follows widespread opp...
More sunshine yet fewer convertibles, how is that possible? ‘Air conditioning killed the convertible’
Despite the increasing number of sunny hours in the Netherlands, sales of convertible cars are significantly declining. Enthusiasts attribute this trend to the prevalence of air conditioning, which ha...
Minister Vijlbrief to reconsider harsh benefit cuts after all
The Dutch cabinet is reconsidering proposed budget cuts to unemployment and disability benefits. Social Affairs Minister Hans Vijlbrief indicated that the government will look for ways to soften the i...
Third customer finds mouse in Jumbo frozen green beans
A third customer has reported finding a mouse inside a package of frozen green beans from the supermarket chain Jumbo. Following these reports, the company has removed all of the affected product pack...
Vijlbrief: WIA situation alarming, intervention inevitable
Minister Hans Vijlbrief of Social Affairs has described the situation regarding the Dutch disability benefit scheme (WIA) as alarming. He emphasized that urgent intervention is required to keep the pr...
European billion-euro sustainability fund yields too little
The European Union's innovation fund for sustainability is yielding fewer results than expected due to the slow deployment of capital. Intended to support new technologies for reducing greenhouse gas ...
Zelensky warns EU summit: we cannot do without the money
Ukrainian President Volodymyr Zelensky addressed European leaders to emphasize the critical need for a 90 billion euro support package. He described the funding as a vital financial security guarantee...
Ten percent more Amsterdam youth on unemployment benefits, higher than national average
The number of young people under 27 in Amsterdam receiving unemployment benefits rose by 10% last year, surpassing the national average of 8% due to high employment in volatile sectors like hospitalit...
Fine and community service for EU subsidy fraud
A researcher in Limburg has been sentenced to a 10,000 euro fine and 60 hours of community service for fraud involving European cancer research subsidies. The European Public Prosecutor's Office handl...
Qatari gas supply under pressure for years due to damage from Iranian attacks
Recent attacks from Iran have caused permanent damage to Qatar's LNG installations, which QatarEnergy warns could take years to repair. This disruption is expected to have long-term consequences for t...
New rules to bring peace to Rotterdam airport residents
The Dutch government is implementing new regulations to significantly reduce noise pollution near Rotterdam The Hague Airport. The airport will close almost entirely at night, and the frequency of fli...
KLM suspends flights to Dubai, Riyadh and Dammam until May 17
KLM has suspended all flights to Dubai, Riyadh, and Dammam until May 17 due to the ongoing conflict in the Middle East. This decision impacts routes from the airline's hub in the Netherlands to both t...
Eurozone interest rate remains unchanged amid Iran unrest
The European Central Bank has kept the eurozone's key interest rate unchanged at 2 percent for the sixth consecutive time. This decision, made amid unrest in Iran, also saw the bank lower its economic...
Starmer condemns Iranian attack on Qatar gas facility
British Prime Minister Keir Starmer has strongly condemned an Iranian attack on a gas facility in Qatar that occurred on Wednesday night. QatarEnergy reported significant damage and multiple fires at ...
Airlines warn ticket prices will rise due to Iran war
Major European airlines warn that flight ticket prices will increase as jet fuel costs rise due to the conflict in the Middle East. Travelers can expect higher fares as a direct result of these increa...
Corendon is the new operator of the luxury W Hotel in Amsterdam
Support for youth during Money Week
During the national Money Week in the Netherlands, various walk-in sessions will be held in Haarlem to help young people with financial questions regarding loans, taxes, and debt. The initiative aims ...
Gas supply secure for now, Dutch reserves almost empty
Gas network operator Gasunie reports that the gas supply for the Netherlands remains secure for the near future despite national reserves being nearly depleted. The risk of shortages is currently low ...
European Parliament takes step toward approving US trade deal
The European Parliament's trade committee has approved a portion of a trade agreement between the European Union and the United States. This decision brings the overall trade deal one step closer to f...
Ditch the phone, at Mooie Boules you learn to talk to others again: ‘We’ve forgotten how’
Mooie Boules, a company nominated for the National Entrepreneur Prize, offers nine locations where people can play jeu de boules without using their phones. Founded after spontaneous games at Amsterda...
Which company wins our Entrepreneurship Award this year? Vote for one of these nine candidates!
The public is invited to vote for one of nine small and medium-sized enterprise nominees for the National Entrepreneurship Award. The winner of this year's competition will be decided by the votes cas...
Fundraising for US weapons for Ukraine behind schedule
European allies are falling behind schedule in raising funds for the PURL procurement program, which is designed to purchase essential American weapons for Ukraine. The initiative has currently failed...
Dutch gas supply not at risk, but winter reserves nearly empty: 'No problem yet'
According to gas network operator Gasunie, the gas supply for the Netherlands and surrounding countries remains stable despite recent attacks on installations in Qatar. While the Netherlands does not ...