Monday , April 22 2019
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Denmark

Danish police arrest seven in raid on smuggling network

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Seven people have been arrested for attempting to smuggle 16 million counterfeit cigarettes from Poland to Denmark. In a major police operation, Danish law enforcement arrested the people, who are thought to be connected to a wider-ranging smuggling network. They were arrested while trying to smuggle as many as 16 million copy cigarettes into Denmark, according to police special investigation ... Read More »

Dairy farmers refuse £6,000 to allow filming of milk production in Denmark

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Dairy farmers in Denmark have refused an offer of nearly £6,000 to let animal-rights campaigners film the production of milk, butter and cheese. The country’s farmers, who supply dairy products for the firm behind British brands Anchor and Lurpak, have not accepted the cash incentive to let cameras in to record how cows and calves are treated every day. Animal-rights ... Read More »

Denmark’s DSV to buy logistics company Panalpina in US$4.6 billion deal

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COPENHAGEN/ZURICH: Swiss logistics group Panalpina has bowed to an increased 4.6 billion Swiss francs (US$4.6 billion) bid from Danish rival DSV, ending a more than two month takeover battle designed to build scale in the consolidating transport sector. DSV, whose Chief Executive Jens Bjorn Andersen has been on the hunt for targets to broaden his company’s global reach and help ... Read More »

Plan needed from May over Brexit delay: Danish PM

Denmark's Prime Minister Lars Lokke Rasmussen arrives at a European Union leaders summit in Brussels, Belgium March 22, 2019. REUTERS/Toby Melville

Danish Prime Minister Lars Løkke Rasmussen was positive about the EU granting a short extension to the British government to facilitate an orderly Brexit, but said British PM Theresa May needed strong reasons for her requested delay. Rasmussen made his comments before leaving for Brussels on Thursday night, where leaders of EU countries met to discuss May’s request for an ... Read More »

Huawei edged out in favour of Ericsson for Danish 5G network

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The decision regarding which company will be responsible for building Denmark’s next generation of communications networks has now been taken. Two companies were in the running – China’s Huawei and Sweden’s Ericsson – and the contract has been awarded to the latter. The 5G network will replace the present country-wide 4G network and promises much faster communication. In the spotlight ... Read More »

PIRC advises investors to oppose split of Danske Bank

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Leading proxy voting adviser Pensions & Investment Research Consultants (PIRC) recommended that investors in scandal-hit Danske Bank oppose a resolution planning a break-up of the lender at its annual general meeting this month. Danske is under investigation in the United States, Denmark, Estonia, France and Britain over some 200 billion euros ($225.78 billion) in payments from Russia, ex-Soviet states and ... Read More »

Danish companies invent like never before

Novozymes i Bagsværd, fredag den 12. oktober 2018.

An enzyme that breaks down dead cells in the stomachs of chickens so that they don’t need as much feed. An algorithm that stabilizes the swaying of a wind turbine so that it can be built with a little less steel. These are examples of products that two Danish companies, Novozymes and Vestas, have developed and been granted patents for. ... Read More »

Dairy farmers refuse £6,000 to allow filming of milk production in Denmark

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Dairy farmers in Denmark have refused an offer of nearly £6,000 to let animal-rights campaigners film the production of milk, butter and cheese. The country’s farmers, who supply dairy products for the firm behind British brands Anchor and Lurpak, have not accepted the cash incentive to let cameras in to record how cows and calves are treated every day. Animal-rights ... Read More »

News in Digest: Mixed barrel for Danish business

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The early company results have not been too promising, but the Danish business sector remains optimistic if the expansion plans and acquisitions of some of its leading companies are anything to go by. While five major companies announced disappointing results ahead of the children’s half-term, only one of them was in the red: the pension firm ATP, which confirmed a ... Read More »

Denmark’s no-deal Brexit bill: What British residents need to know

Storbritanniens premierminister Theresa May møder statsminister Lars Løkke Rasmussen på Christiansborg i København, mandag den 9. april 2018. Theresa May og Lars Løkke Rasmussen skal blandt andet diskutere Brexit og giftangreb. (Foto: Mads Claus Rasmussen/Scanpix 2018)

The Danish government filed a bill setting out the rights of British citizens living in Denmark in the event of a no-deal Brexit. The 129-page bill provides for temporary continuation of the majority of rights currently enjoyed by British citizens who live in Denmark under European Union free movement rules. Provided it passes parliamentary procedure, the proposed legislation is expected ... Read More »

Estonia shuts Danske Bank branch at heart of money laundering saga

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Estonia ordered Danske Bank to close its local branch within months on Tuesday, as Estonian and Danish regulators faced an EU inquiry into their efforts to prevent one of the largest-ever money laundering scandals. The Baltic state has taken centre stage since Danske Bank’s Estonian branch was found to have helped funnel some 200 billion euros ($226 billion) in suspicious ... Read More »

Danish economy avoids global uncertainty, so far

(ARKIV) Avedøreværk uden for København, den 11. november 2013. Avedørekraftværket kørte tidligere på kul, men er blevet omdannet til et biomassefyret kraftværk, der bruger træpiller. Aalborg vil stoppe sorte investeringer i fossile brændsler. Dermed har 20 danske kommuner nu droppet kul- og olieselskaber. "Ren populisme", mener borgmester. Det skriver Ritzau, fredag den 10. august 2018.. (Foto: Kasper Palsnov/Ritzau Scanpix)

Denmark’s economy grew by 1.1 percent in 2018, according to a Statistics Denmark estimate. Analysts have described the figure as encouraging. The figure is indicative and dependent on a number of uncertain factors, with several aspects yet to be accounted for. In the last three months of 2018, the economy grew by 0.8 percent more than in the preceding quarter. ... Read More »

EU approves Stena joint venture

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The European Commission has approved the establishment of a joint venture between Stena Shipping, a part of Stena AB, and German Glovis Europe, which is operated by the South Korean company Hyundai Glovis. The joint venture will mainly revolve around operating shorter routes by RoRo vessels. “The commission came to the conclusion that the partnership will not lead to competitive ... Read More »

European markets open higher ahead of US-China trade talks

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European stocks opened higher Monday morning, with market participants looking ahead to a fresh round of U.S.-China trade talks this week. The pan-European Stoxx 600 was up around 0.5 percent shortly after the opening bell, with all sectors and major bourses in positive territory. Market focus is largely attuned to global trade developments, with a delegation of U.S. officials set ... Read More »

EU anti-fraud group heads for Estonia, Denmark to learn Danske Bank lessons

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COPENHAGEN: In the wake of Danske Bank’s money laundering scandal, an EU committee will visit Estonia and Denmark this week to meet regulators, prosecutors and the bank’s new management to discuss ways to crack down harder on fraud. Between 2007 and 2015, 200 billion euros (175 billion pounds) of suspicious payments from Russia and other states flowed through the Estonian ... Read More »

Danish ex-spy boss sentenced for revealing secrets

(ARKIV) Chef for PET Jakob Scharf i København, den 27. oktober 2009. JP/Politikens Hus bør ifølge PET straffes med en bøde på 15 millioner kroner, og chefredaktøren bør sendes bag tremmer, efter at Politiken trykte PET-bog. Det skriver Ritzau, søndag den 11. november 2018.. (Foto: Erik Refner/Ritzau Scanpix)

Denmark’s former intelligence chief Jakob Scharf was sentenced to four months in prison for having betrayed professional secrets in his memoir. He revealed confidential information 24 times in the book, in particular regarding the operations of the Danish Security and Intelligence Service (PET) and the agency’s methods of working, a Copenhagen court said in its judgement seen by AFP. The ... Read More »

Denmark nets maritime agreement with India

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PM Lars Løkke Rasmussen is in India this week as part of a Danish business delegation looking to capitalise on thawing relations between Denmark and India. And already an agreement has been reached regarding a new maritime deal that aims to boost co-operation between the two countries. “India is a fast-emerging economy that plays a key role in the global ... Read More »

Danske Bank says may be investigated again in France

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COPENHAGEN: Danske Bank, which is embroiled in a major money laundering case linked to its Estonian branch, may come under formal investigation for a second time in France, it said. Danske Bank is already under investigation by authorities in Denmark, Estonia, Britain and the United States over suspicious payments totalling 200 billion euros ($229 billion) made through its Estonian branch ... Read More »

Business News in Brief: Tax authority writes off billions, benefiting half a million in the process

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The Skattemyndighederne tax authorities have written off 5.8 billion kroner from the bills of nearly half a million people in Denmark, reports Politiken. Some 485,000 have benefited from a move that was approved by Parliament. Many are believed to be benefit recipients, early retirement pensioners and people on early retirement, and most were informed in mid-December. Skattemyndighederne initiated the move ... Read More »

Danske Bank ends miserable year with profit warning

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COPENHAGEN: Danske Bank, at the center of an international investigation into alleged money laundering, cut its 2018 outlook on for the second time this year, citing challenging market conditions on financial markets. Denmark’s biggest lender said it expects net profit for the year of around 15 billion Danish crowns ($2.3 billion), down from the 16-17 billion it had previously guided. ... Read More »