Economy News in English

Fickle Trump drops threat of Strait of Hormuz levy after just one day

U.S. President Donald Trump has reversed his decision to impose tolls on shipping traffic through the Strait of Hormuz just one day after announcing the plan. Trump stated that the reversal follows th...

Aviation chief: Residents, aviation sector, and government must return to the Schiphol table, we cannot stay stuck in the past

Consumers continue to struggle with high prices for goods, services, and gasoline

Consumers in the Netherlands are expected to continue facing high prices for goods, services, and fuel due to the ongoing conflict in the Middle East. However, these negative impacts on households are...

Buffett stops donations to Gates Foundation following Epstein controversy

Warren Buffett has announced that he will stop donating to the Bill and Melinda Gates Foundation for the first time in two decades. While the American investor continues to distribute a large portion ...

Cabinet wants fewer pesticides but leaves growers with questions

The Dutch cabinet has reached an agreement with farmers to reduce the use of pesticides in the coming years. However, specific targets regarding the exact reduction percentages remain unclear, leaving...

NS to ban luggage from train seats

Dutch national railway operator NS is planning to implement new rules that prohibit passengers from placing luggage on empty train seats. The initiative aims to increase available seating capacity for...

Court upholds ban on Kyndryl's acquisition of Solvinity

A Dutch court has upheld the decision to prohibit the acquisition of the IT company Solvinity by Kyndryl. The ruling prevents the proposed takeover from proceeding.

Payment processor CCV fined millions again for failing anti-money laundering checks

The Dutch central bank has fined payment company CCV over 2.6 million euros for failing to implement adequate anti-money laundering and fraud controls. This marks a repeated failure by the Arnhem-base...

Russia places AkzoNobel's Russian subsidiaries under state control

Russian President Vladimir Putin has placed the Russian subsidiaries of the Dutch multinational AkzoNobel under temporary state control. AkzoNobel is currently evaluating the decision, noting that the...

1650 euro penalty for solar panel owner refusing digital meter

The Dutch government has introduced a fine of 1,650 euros for solar panel owners who refuse to replace their traditional electricity meters with digital ones. These penalties will continue to increase...

Klushub cost over 600,000 euros and was used by only three entrepreneurs

The Amsterdam city council spent 661,000 euros on a 'Klushub' pilot project intended to help entrepreneurs switch to electric vehicles, but only three businesses made use of the service. Despite the s...

Empty nesters gain financial freedom, but Peter (58) and Ingrid (56) are not on the same page

Empty nesters Peter and Ingrid are experiencing increased financial freedom now that their children have moved out. Despite this relief in fixed costs, the couple is struggling with frequent conflicts...

Inflation hits fuel hardest, but supermarket prices not yet rising

Recent research from the Dutch Central Bank indicates that inflation is primarily driven by rising fuel prices due to geopolitical tensions in the Middle East. Despite the perception of broad price in...

While friends play games, Job and Julian (11) find fun in their business: We do want to earn some money

Eleven-year-olds Julian Verzendaal and Job Weerheim have launched their own candy business, demonstrating a professional approach to wholesale purchasing and negotiations. The two boys are aiming for ...

US states take legal action against multibillion-dollar Warner-Paramount merger

A group of twelve U.S. states is seeking to block the acquisition of Warner Bros. Discovery by Paramount Skydance. They argue that the merger would reduce market competition and lead to higher prices ...

Oil price at highest level since Iran and US signed declaration of intent

Oil prices have reached a four-week high following a significant increase on Monday and Tuesday. The rise is attributed to the United States' announcement of a blockade in the Strait of Hormuz and Pre...

Beware, as the holidays are a goldmine for bank fraudsters

ABN Amro warns that criminals are increasingly exploiting personal data shared online to commit bank fraud while people are on vacation. Research conducted among one thousand residents indicates that ...

Think tank report: solar energy provides quarter of EU electricity for the first time

According to the energy think tank Ember, solar energy accounted for a quarter of the total electricity production in the European Union for the first time in June. This milestone marks a significant ...

KLM seeks alternative routes after Houthi warning on Saudi airspace

KLM is investigating alternative flight paths for two flights traveling from India to Amsterdam due to safety warnings from Houthi rebels regarding Saudi Arabian airspace. The airline is adjusting its...

After 50 years, humans are flying to the moon again: 'Crew reflects today's society'

For the first time since 1972, astronauts have flown toward the moon as part of a mission reflecting modern societal changes. The current lunar program highlights international collaboration and a foc...

How the World Cup became a money machine for FIFA: no taxes, record revenue of 11.5 billion euros, and ‘everything is for Infantino’

The FIFA World Cup has achieved record commercial success, generating 11.5 billion euros in revenue while benefiting from tax-exempt status. With the tournament expanding to 48 countries and 104 match...

Dubai works on plans for new port to bypass Strait of Hormuz

Port operator DP World is planning to construct a new port in Fujairah on the east coast of the United Arab Emirates. This project aims to provide an alternative route for ships to bypass the Strait o...

Trump wants ships in Strait of Hormuz to pay toll for protection

Former US President Donald Trump has proposed that all cargo ships passing through the Strait of Hormuz should pay tolls to the United States. He argues that this fee is necessary to compensate the U....

ACM also investigating Odido measures to protect customer data

The Authority for Consumers and Markets (ACM) has launched an investigation into the measures taken by telecom provider Odido to protect customer personal data. The regulator is assessing whether the ...

Large group of real estate agents criticize Funda's new working method

Nineteen regional departments of the Dutch real estate association NVM have expressed dissatisfaction with Funda's new policy. The group criticized the platform's decision to increase rates for placin...

Volkswagen may cut another 50,000 jobs to reduce costs

Volkswagen CEO Oliver Blume has indicated in an internal document that the automaker may cut an additional 50,000 jobs to reduce costs and maintain competitiveness. The company is taking these measure...

EU gives final approval to revised air passenger rights

European Union member states have granted final approval to revised air passenger rights, which are set to take effect by mid-2027. This decision follows previous support from the European Parliament.

Holidaymakers find cheapest fuel in Spain, the Netherlands is most expensive

According to research from the ANWB, Dutch vacationers will find the lowest fuel prices for both gasoline and diesel in Spain this summer. Conversely, the Netherlands is currently the most expensive c...

Netherlands becoming more attractive for viticulture: 'But hotter isn't always better'

Viticulture in the Netherlands is growing rapidly as rising temperatures create more favorable conditions for grape cultivation. This warming climate has led to an increase in the number of vineyards,...

Dutch exports continue to rise in May, more petroleum products exported

Dutch exports increased by 5.5 percent in May compared to the same month last year. According to Statistics Netherlands, this growth was primarily driven by a rise in the export of petroleum products.