Economy News in English
Latest economy headlines from Dutch news, translated into English.
Low income? Apply for a municipal tax waiver
Individuals and entrepreneurs with limited financial resources can apply for a waiver or reduction of their municipal taxes. Eligible applicants may be exempt from paying the tax entirely or only requ...
Experts sound alarm after study: Half of teens consume 90 sugar cubes a week from soft drinks
A new study reveals that teenagers aged 12 to 16 consume an average of 9.5 glasses of sugary drinks per week, with half of them reaching 16.5 glasses. Experts are urging the new government to implemen...
KLM cancels flights to and from Dubai and Saudi Arabia for an extended period
KLM has extended its flight cancellations to and from Dubai and Saudi Arabia until March 9 due to ongoing unrest in the Middle East. The airline had previously announced that flights were suspended th...
New AI certification gains ground: companies want to prove their AI is responsible
A new certification for responsible artificial intelligence is gaining traction among companies like CM.com and KPMG to verify the ethical standards of their software. The initiative aims to address c...
Deep red on stock markets, AEX plunges well below 1,000 points
European stock markets experienced significant declines on Tuesday, with the Amsterdam AEX index falling well below the 1000-point mark. Investors are concerned that rising energy prices linked to the...
Pump prices skyrocket due to Middle East unrest
Fuel prices in the Netherlands have increased following unrest in the Middle East, with gasoline prices rising by 3.3 cents and diesel by 9.5 cents. Market experts predict that these prices will conti...
Customers seek accountability after major data breach: Dozens of reports for potential Odido claim
Dozens of Odido customers have contacted consumer organizations, such as the Consumers' Association, to explore a mass claim following a significant data leak. These individuals are seeking legal acti...
European gas price rises another 16 percent due to Middle East unrest
European gas prices rose by 16 percent on Tuesday morning, reaching over 51 euros per megawatt-hour at the Amsterdam gas exchange. The price surge is attributed to ongoing geopolitical unrest in the M...
Oil prices continue to rise amid Middle East unrest
Oil prices continued to rise on Tuesday due to escalating conflict in the Middle East, including Israeli attacks on Hezbollah targets in Lebanon. The price surge is further driven by reports of Irania...
Prices rise 2.4 percent in February, same as in January
Consumer prices in the Netherlands rose by 2.4 percent in February compared to the previous year, matching the inflation rate recorded in January. Statistics Netherlands (CBS) notes that while the rat...
Pressure on Haarlem housing market eased slightly over the past four years
The pressure on the housing market in Haarlem has slightly decreased over the past four years, making it less overheated for potential buyers. Data released by area developer BPD indicates that while ...
Average home requires double the median income: Home ownership out of reach for many households
The Netherlands Bureau for Economic Policy Analysis (CPB) reports that an annual income of at least 96,000 euros, double the modal income, is now required to afford an average home. This makes homeown...
Election debate focuses on affordable housing: ‘Students can earn an extra 1000 euros this way’
Iran's Revolutionary Guard threatens force in Strait of Hormuz
A commander of the Iranian Revolutionary Guard has reiterated that the Strait of Hormuz is closed to traffic. He warned that any ships attempting to pass through the waterway will be set on fire, acco...
Eye Filmmuseum director steps down after 'implemented restructuring'
Bregtje van der Haak is stepping down as director of the Eye Filmmuseum in Amsterdam following a restructuring process driven by financial challenges and job cuts. The museum's board has appointed Joh...
Unfair and harmful: ‘motherhood penalty’ pushes women into a financially vulnerable position
Psychologist Thijs Launspach highlights the 'baby penalty,' a phenomenon where women often experience significant financial setbacks and career stagnation after having children. In contrast, men’s c...
Cabinet will not draft retirement age legislation for now
The Dutch cabinet has decided to temporarily halt the development of legislation intended to accelerate the increase of the retirement age. This decision follows a meeting with labor unions FNV, CNV, ...
BMW recalls thousands more cars in the Netherlands due to fire risk
BMW is recalling 4,233 vehicles in the Netherlands, specifically 5-series and 7-series models, due to a potential fire risk. This Dutch recall is part of a larger global action involving hundreds of t...
Unions threaten action, state pension pause insufficient
Dutch labor unions are threatening industrial action as the government continues with plans for state pension changes and social security cuts. After a meeting at the Catshuis, union representatives s...
Approval for major takeover: ABN AMRO cleared to acquire NIBC for nearly a billion
ABN AMRO has received official approval to acquire NIBC for approximately one billion euros. The transaction marks the largest acquisition within the banking sector in several years.
Jetten faces 'hot' spring: unions remain combative after Catshuis talks
Dutch Prime Minister Rob Jetten faces ongoing opposition from labor unions following a meeting at the Catshuis regarding state pension (AOW) plans. Despite a positive introductory discussion, the cabi...
Far fewer customers choose Odido since hackers posted stolen data on dark web: ‘Breach of trust’
Odido has seen a significant decline in new customers after hackers published the stolen data of millions of users on the dark web last Thursday. The data breach has caused a major loss of consumer tr...
European economy most vulnerable to Iran conflict: ‘Timing could not be worse’
ING economists warn that the European economy is particularly vulnerable to the potential consequences of a prolonged conflict between Iran and the United States. The timing is seen as especially poor...
More customers switching to KPN and VodafoneZiggo after Odido data breach
Telecom provider Odido is seeing an increase in customers switching to competitors like KPN and VodafoneZiggo following a data leak. Comparison websites report that the incident has caused significant...
Qatar halts liquefied gas production after Iranian drone attacks
Qatar has suspended its liquefied natural gas (LNG) production following reported drone attacks from Iran, which were allegedly carried out in response to American and Israeli strikes. The production ...
Achmea customers agree to compensation over usury policies
At least 90 percent of customers with usury policies at the insurer Achmea have agreed to a compensation settlement. This agreement allows the company to proceed with payouts, which are expected to ta...
Less gas consumption at stations, ProRail turns off heating more often
ProRail reports a 60% reduction in gas consumption at Dutch train stations over the past five years. This decrease was achieved by switching from continuous heating to only heating halls, waiting room...
EU prosecutors suspect multi-billion fraud in COVID recovery fund
The European Public Prosecutor's Office reports that fraud involving the European COVID-19 recovery fund increased significantly last year, totaling an estimated 5 billion euros. The fraudulent activi...
Mortgage rates have been falling slowly for weeks, especially for 10-year terms
Mortgage interest rates have been gradually decreasing since the start of the year, particularly for ten-year fixed-rate terms. This downward trend provides homebuyers with more financial flexibility ...
Air France-KLM big loser on Amsterdam exchange due to Middle East unrest, Shell gains
On Monday, Air France-KLM shares dropped nearly 10% on the Amsterdam stock exchange amid rising tensions in the Middle East. Meanwhile, energy giant Shell saw its stock rise by 6.5% as oil and gas pri...