Economy News in English
Latest economy headlines from Dutch news, translated into English.
Rare black rhinos released in Africa with Dutch connection: ‘Iconic animal’
Three Dutch friends living in Botswana have significantly boosted the country's black rhino population by introducing twenty of the endangered animals to their private reserve. The complex relocation ...
Saudi Arabia reopens key oil pipeline after major drone damage
Saudi Arabia has partially reopened its critical East-West pipeline following damage from Houthi drone attacks. The pipeline serves as a key export route while the ongoing blockade of the Strait of Ho...
Studio without a kitchen for 1,900 euros: "After a year, you've had enough of microwave meals"
A 22-square-meter studio apartment in Amsterdam's Jordaan neighborhood is being advertised for 1,900 euros per month, despite lacking a kitchen and a washing machine. Housing experts suggest the rent ...
Lawyers for Frits van Eerd want judges to personally inspect the famous fridge used to store cash
Lawyers for Frits van Eerd have asked an appeals court to personally inspect the workshop where the former Jumbo executive stored cash in a refrigerator. The defense argues the facility was highly sec...
Anyone who gets in the way of bunq founder Ali Niknam must go, according to a biography written by three investigative journalists: 'For Ali, everything is about efficiency, never about empathy for others'
An unauthorized biography of bunq founder Ali Niknam describes a demanding leadership style that prioritizes extreme efficiency over employee empathy. The book, written by three investigative journali...
EU opens door wider to free trade agreement with the Philippines
The European Union has restarted trade negotiations with the Philippines to eliminate tariffs on most goods and strengthen economic ties. The agreement aims to reduce European dependence on other majo...
KLM resumes flights to Dubai and Saudi Arabia from late October
KLM plans to resume flights to Dubai and Saudi Arabia in late October, though the schedule remains subject to change based on the security situation in the Middle East. Meanwhile, the airline continue...
Eva and Thomas spend 430 euros in two days and then panic sets in
Eva and Thomas, a couple aged 32 and 36, frequently struggle with financial stress due to overspending shortly after receiving their monthly salaries. They consistently find themselves anxious about t...
Dutch fine of 5 million euros for Swiss bank UBS for assisting tax evaders
The Dutch Public Prosecution Service has fined UBS 5 million euros for its role in assisting clients with tax evasion between 2005 and 2015. The investigation focused on Credit Suisse, which was acqui...
Existing owner-occupied homes slightly cheaper in August, price growth continues to slow
Existing owner-occupied home prices in the Netherlands fell by 0.1 percent in August, though they remain 3.3 percent higher than a year ago. The market is cooling due to higher mortgage interest rates...
Luxury brands see middle class pulling back: expensive handbags becoming less of a staple
Middle-class consumers are purchasing fewer luxury goods due to significant price increases and changing spending priorities. Consequently, luxury brands are shifting their strategies to provide more ...
Selling dates from Israeli settlements is now a criminal offense
Starting September 22, the Netherlands has banned the trade of goods from Israeli settlements in occupied Palestinian territories following an International Court of Justice ruling. Violators face pot...
House prices are rising at a slower pace
The pace of house price growth in the Netherlands has slowed to 3.3 percent as of August, down from significantly higher increases recorded in late 2024. While the average sale price remains above 503...
Privacy regulator: filming people with smart glasses is almost never allowed
The Dutch privacy regulator has cautioned that filming people with smart glasses is mostly illegal under GDPR laws, as bystanders have a right to privacy. The authority advises institutions like hospi...
Widower Ivo (74) receives 4138 euros a month and reflects on his legacy: My daughters are already well-off
Retired widower Ivo Steinebach lives on 4,138 euros per month and has no mortgage, leading him to question whether to leave his assets to his already wealthy daughters. He is currently reevaluating hi...
Parental contribution for near-free childcare in 2029 will be slightly higher
Parental contributions for childcare in the Netherlands will rise by 2029 due to higher-than-expected implementation costs for a new, near-free system. Although the government aims to boost employment...
Settlements pave the way for Paramount's acquisition of Warner Bros.
Paramount has reached settlement agreements with twelve states and a writers' union to proceed with its 110 billion dollar acquisition of Warner Bros. The deal requires the company to maintain specifi...
Conference industry fears higher tourist tax: We are driving away the wrong tourists
Amsterdam is set to increase its tourist tax to 20 percent by 2031, prompting concerns from the conference industry that the move will drive away valuable business travelers. Industry leaders argue th...
Conference industry fears higher tourist tax: "We are driving away the wrong tourists"
Amsterdam plans to raise its tourist tax to 30 percent by 2031, prompting concerns from the conference industry that the move will drive away high-spending business travelers. While city officials arg...
Hated childcare allowance to disappear: childcare to become much cheaper from 2029
The Dutch government has finalized legislation to replace the complex childcare benefit system with a more affordable model starting in 2029. This change aims to eliminate the administrative burden fo...
Bitcoin climbs to highest level since January
Bitcoin reached its highest value since January this Monday, climbing to a peak of 85,229 dollars. The digital currency has seen significant growth over the past few months, even as regulatory landsca...
Average Haarlem resident lives in the same amount of space as ten years ago
Recent data from Statistics Netherlands reveals that the average resident of Haarlem currently has approximately 47 square meters of living space, the same amount as ten years ago. This trend is drive...
Major fire at Tata Steel site
A fire occurred late in the afternoon at a Tata Steel facility, originating on a conveyor belt near a blast furnace. The company evacuated the site and successfully extinguished the blaze using its in...
9 million votes cast for new euro banknote designs, last chance today
The European Central Bank has collected 9 million public votes for new euro banknote designs featuring themes of European culture or rivers and birds. The public has until midnight today to participat...
Ordering packages from China becomes significantly more expensive again starting in November: here is what you will pay
Shoppers ordering from non-EU platforms such as Temu and Shein will face an additional 2 euro processing fee starting in November. This new measure adds to an existing 3 euro tax, aiming to combat unf...
Fuel shortages reported at some French gas stations
Multiple gas stations in eastern France are reporting fuel shortages, particularly in the Alsace, Champagne, and Lorraine regions, due to supply chain disruptions linked to the war in the Middle East....
Sustainable clothing brand Mud Jeans from Weesp makes a restart
Sustainable clothing brand MUD Jeans has been acquired by N5 Holding following its bankruptcy filing in early August. The company, which struggled with heavy historical debt and low sales due to warm ...
Global diesel stocks shrink as prices continue to rise
Global diesel inventories are shrinking due to geopolitical conflicts and refinery disruptions, leading to record-high prices across Europe and the United States. Although officials note that fuel sup...
Intelligence agencies still lack sufficient grip on the use of AI
The Dutch intelligence oversight committee, CTIVD, reports that national security agencies have insufficient control over their use of artificial intelligence and automated data analysis. To protect p...
Google fined 403 million euros for processing location data
Google has been fined 403 million euros by the Irish Data Protection Commission for mishandling user location data. The investigation was triggered by consumer organizations concerned that the company...