Economy News in English
Latest economy headlines from Dutch news, translated into English.
Dutch civil servants agree to pay rise and one-time payment
Dutch civil servants have agreed to a new collective labor agreement featuring a 2.7 percent wage increase and a one-time payment. Employees in lower income scales will receive 1,400 euros, while thos...
Banks fully commit to European cryptocurrency: Rabobank and ABN Amro also join
Rabobank and ABN Amro have joined a group of European banks to launch a euro-denominated stablecoin. This initiative aims to provide a European alternative to the stablecoin market currently dominated...
NATO countries reject fixed percentage for Ukraine aid
NATO Secretary-General Mark Rutte's proposal for European member states to allocate a fixed 0.25 percent of their GDP to support Ukraine has been rejected. NATO countries are currently unwilling to co...
Ukraine receives first 3.2 billion of EU loan
The European Commission announced that Ukraine will receive the first 3.2 billion euro installment of a 90 billion euro EU loan. This initial payment is scheduled to be disbursed before July 1st.
Is there a limit to Action's growth? 'Many people just get happy from a garden gnome'
Dutch discount retailer Action is experiencing rapid international success and is currently planning an expansion into the United States. The company maintains that pausing its growth is not an option...
Construction of flexible housing falling short, says Court of Audit
The Netherlands Court of Audit has criticized the national government's progress on flexible housing, labeling the current policy as moderate. Despite targets to build 15,000 temporary homes annually,...
Court of Audit: Taxpayers (again) not getting value for money
The Netherlands Court of Audit's annual accountability report concludes that the cabinet consistently promises more than it can deliver, resulting in missed short-term and long-term goals. The auditor...
Heinen wants talks between Defense and Court of Audit on procurement
Dutch Finance Minister Eelco Heinen has called for the Ministry of Defense and the Court of Audit to resolve ongoing issues regarding procurement procedures. He intends to facilitate a meeting between...
Court of Audit: safety plans exist mainly on paper
The Dutch Court of Audit has warned that while the government allocates significant funding for security, the effectiveness of these investments remains uncertain. The audit highlights that the Nation...
'The last taboo' lifted by new pay transparency law. Pay gap also tackled. 'Which employer says no to that?'
A new pay transparency law will take effect next year, allowing employees to request information about their colleagues' salaries. The legislation aims to break the social taboo surrounding financial ...
UK eases sanctions on certain Russian products
The United Kingdom has eased sanctions on specific Russian energy products, allowing the import of diesel and kerosene refined abroad from Russian crude oil. This policy shift permits these refined fu...
Unclear where billions in defense funds are being spent
The Dutch Ministry of Defense is facing criticism for a lack of transparency regarding the expenditure of billions of euros on equipment and services. Reports indicate that the department frequently u...
Despite cabinet plans, the number of civil servants continues to rise
The number of civil servants in the Dutch central government continues to rise despite successive cabinets' efforts to reduce staffing levels. According to a report by the Netherlands Court of Audit, ...
Defense takes risks with procurement without a tender
The Netherlands Court of Audit warned that the Ministry of Defense is taking significant risks by bypassing public tender procedures and awarding procurement contracts directly. President Pieter Duise...
FNV announces nationwide public transport strikes
The Dutch trade union FNV has announced a nationwide work stoppage in public transport across the Netherlands. The specific date for the strike is expected to be revealed later this Wednesday.
Weesp: city of pleasure for 671 years
Weesp has a long history as a center for pleasure-related industries, predating Amsterdam's reputation for legal stimulants and entertainment. For over 670 years, the town has generated economic value...
Mortgage rates rise sharply with no end in sight: house prices could come under pressure
Mortgage rates are rising rapidly as lenders respond to inflation concerns and expected central bank interest rate hikes. This upward trend is likely to continue, potentially putting downward pressure...
Samsung workers prepare for 18-day strike
Approximately 48,000 Samsung employees are preparing for an 18-day strike after the company failed to reach an agreement regarding bonuses. The labor union announced the action following unsuccessful ...
Dutch consumers still spending as much despite energy crisis
Dutch consumer spending remains stable and resilient despite the ongoing energy crisis. This stability persists even as consumer confidence has declined significantly due to geopolitical tensions in t...
More frequent inspections of rental homes: ‘We see distressing situations’
The Dutch Rent Tribunal conducted more than 100 architectural inspections per week last year as complaints regarding poor maintenance in rental properties continued to rise. Common issues reported by ...
EU reaches provisional agreement to finalize trade deal with US
The European Union has reached a provisional agreement on legislation to abolish import duties on goods from the United States. This move is a key component of the trade agreement established between ...
Anke (79) has been fighting for Amsterdammers on benefits for 50 years: ‘Many clients are afraid of civil servants. We are not’
Amsterdam should have its own technical university: city’s tech position under pressure
From ‘Zeeman shame’ to hip brand: departing CEO on a decade of transforming the discounter
The departing CEO of the Dutch discount retailer Zeeman reflects on his ten-year tenure transforming the brand's image from an embarrassing low-budget store into a trendy label. Through strategic inte...
New York art auctions make comeback with record prices
The spring art auctions in New York are experiencing a significant comeback with record-breaking sales for artists like Jackson Pollock and Mark Rothko. In May alone, twelve pieces sold for over $30 m...
Tata Steel welcomes EU Parliament support to limit steel imports
Tata Steel Nederland has welcomed the European Parliament's decision to halve current steel import quotas. This measure aims to protect the European market from global steel surpluses originating outs...
Couple living in tent on Kloveniersburgwal for months
A homeless couple has been living in a tent on the Kloveniersburgwal in Amsterdam for several months, prompting the city to initiate a formal process for its removal. While local residents generally e...
New Princess Beatrix School building in Heemstede significantly more expensive due to rising construction costs, more students, and more expensive materials
The construction of the new Prinses Beatrix School in Heemstede is expected to be significantly more expensive than originally planned. The municipal executive has requested an additional 1.4 million ...
Amsterdam distributes 2,000 emergency kits to low-income residents
The municipality of Amsterdam will distribute 2,000 emergency kits to low-income households registered with the Food Bank starting this summer. These kits, containing items like emergency radios and f...
First cars also becoming home batteries: 'Helps against overloaded power grid'
Electric vehicles can now be used as home batteries to supply energy back to the power grid, helping to alleviate grid congestion. This new technology is currently limited to a single car brand and on...