Economy News in English
Latest economy headlines from Dutch news, translated into English.
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...
More seniors receive supplementary benefits due to lower state pension: 'A struggle'
The number of elderly people in the Netherlands with incomplete state pensions is increasing, often due to time spent living or working abroad. The Sociale Verzekeringsbank reports that managing the r...
Oil prices rise sharply on Middle East unrest
Oil prices surged on Monday, recording their largest daily gain in four years as a result of US and Israeli military strikes on Iran. This significant increase is expected to lead to higher gasoline p...
Costs of stranded package travelers in Middle East reimbursed by fund
Package travelers stranded in the Middle East will have their additional expenses reimbursed by the Calamity Fund due to the ongoing armed conflict in the region. The fund officially declared a calami...
EU ministers: Middle East escalation must be prevented
EU foreign policy chief Kaja Kallas, representing the 27 EU foreign ministers, stated on Sunday that events in Iran must not be allowed to escalate. She warned that such an escalation could bring unpr...
Protest march against housing shortage: You can't live in bullshit
Protesters in Amsterdam held a "Wooncrisis City Sightseeing Tour" march to demonstrate against the housing crisis, high rents, and building vacancies. The march highlighted the contrast between 22,000...
KLM suspends flights to Dubai and Saudi Arabia until Thursday
KLM has cancelled all flights to Dubai, Riyadh, and Dammam until Thursday due to escalating conflict in the Middle East. The decision follows recent attacks on Iran and subsequent retaliatory actions,...
New car sales in the Netherlands down nearly a fifth from a year ago
New passenger car sales in the Netherlands fell by nearly 20% last month compared to the same period last year. Industry associations BOVAG and RAI Vereniging reported that this decline continues the ...
Fine words on creative housing shortage solutions in local elections
Ahead of upcoming municipal elections, political parties are proposing creative solutions like splitting or adding floors to homes to address the housing shortage. However, critics argue that these el...
Macron calls Belgian ship seizure blow to shadow fleet
French President Emmanuel Macron shared footage of an oil tanker being boarded in the North Sea by Belgian authorities. Macron described the operation as a significant blow to the shadow fleet used to...
This empty plot in Heemstede will feature a two-story building with 18 homes in two weeks
Eighteen modular, fully furnished homes are being prepared for transport from Beverwijk to the former Princehof site on Glipperweg in Heemstede. The two-story residential building will be assembled wi...