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Denmark

Denmark’s Hafnia eyes expansion of LR2, MR tanker pools

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COPENHAGEN: Denmark-based Hafnia Management plans to significantly expand its global footprint by adding more Long Range II tankers into its pool and also have an increased presence in the Medium Range tankers segment in the Asian region, a senior company official said. Hafnia is one of the founders of the Singapore-based Straits Tankers’ LR Pool, in which it has an ... Read More »

Telia Denmark lifts Q1 sales 3.5% as equipment sales grow

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COPENHAGEN: Denmark’s Telia Company said that net sales in Denmark in reported currency rose by 5.9 percent in the first quarter to SEK1.48 billion from SEK1.40 billion. In local currency excluding acquisitions and disposals, net sales grew by 3.5 percent, thanks mainly to increased equipment sales. Mobile consumer segment growth was almost fully offset by pressure in the business division. ... Read More »

Denmark shares higher at close of trade

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COPENHAGEN: Denmark equities were higher at the close on Monday, as gains in the Chemicals, Financials and Consumer Services sectors propelled shares higher. At the close in Copenhagen, the OMX Copenhagen 20 rose 1.23% to hit a new 6-month high. The biggest gainers of the session on the OMX Copenhagen 20 were Danske Bank A/S (CO:DANSKE), which rose 2.98% or ... Read More »

Denmark eyes to be a global maritime power hub

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COPENHAGEN: The Danish Government receives recommendations from the Maritime Strategy Team on how to maintain the Danish stronghold as a maritime nation towards 2025. The Maritime Strategy Team, headed by Chairman Jesper Lok, presents its recommendations to the Danish government. The recommendations represent the maritime industry’s input on maintaining and strengthening the industry’s international competitiveness and making Denmark a global ... Read More »

Philippines, Denmark signs MoU to establish mechanism for bilateral consultations

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MANILA: Philippines’ Acting Secretary of Foreign Affairs Enrique Manalo and Danish Permanent Secretary of State for Foreign Affairs Ulrik Vestergaard Knudsen signed early this month a Memorandum of Understanding (MoU) between the government of the Republic of the Philippines and the government of the Kingdom of Denmark on the establishment of a mechanism for bilateral consultations. The MOU will be ... Read More »

Danish chickens finally allowed outdoors

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COPENHAGEN: After five months under quarantine, Danish chickens are finally allowed to get out the doors, reports the Danish Veterinary and Food Administration (DVFA). According to The Copenhagen Post, since November 2016, poultry farms in Denmark had to keep the domestic birds locked indoors as a preventive measure to stop the spread of the avian flu H5N8. “There will always ... Read More »

Denmark’s Novo A/S ups Synlab stake to 20% before possible IPO

HOUSING MARKET UPBEAT

COPENHAGEN: Danish life science investor Novo A/S said it was raising its stake in Synlab to about 20 percent through a 250 million euro ($265 million) subscription to new shares, ahead of a potential listing of Europe’s second largest lab operator. Novo A/S acquired more than 10 percent of Synlab in December from buyout group Cinven. By increasing its stake, ... Read More »

Denmark’s Foreign Minister’s visit strengthens China partnership

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COPENHAGEN: Danish Foreign Minister Anders Samuelsen visited China last month, during which he had several meetings with high-level officials in China, including with his Chinese counterparts on foreign affairs and commerce. The Minister met with Chinese State Councilor Yang Jiechi and showed great interest in the “Belt and Road Initiative”, and China’s reform agenda after the “Two Sessions” in March ... Read More »

Danish B&O notes 12% growth in Q3

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COPENHAGEN: Danish high-end stereo and TV maker Bang & Olufsen reported 12 percent growth in third-quarter revenues driven by its cheaper B&O Play unit, sending its shares up around 2 percent. The group’s revenue rose to 786 million Danish crowns ($112.43 million) from 703 million in the same quarter last year. It was mainly driven by a 53 percent revenue ... Read More »

Denmark exports to UK increases after Brexit vote

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COPENHAGEN: Denmark’s exports to the UK have continued to increase even after the Brexit vote, says Sydbank’s chief economist Jacob Graven. At the end of 2016, Danish exports to Britain were about 37 billion kroner. According to Graven, Britain was Denmark’s fourth largest export market in 2016. “Exports performed better than expected and have not declined as feared,” said a ... Read More »

Milestone Systems revenue up 18% in 2016

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COPENHAGEN: Milestone Systems, an open platform networked video management software (VMS) company, recorded an 18% hike in annual revenues for 2016. The Denmark-headquartered firm has regional offices in the UAE, Saudi Arabia, and Lebanon. Invoiced revenues worth $115.2m (EUR108m) were recorded by the company in 2016, with net revenues amounting to $101.3m (EUR95m). The latter is 18% higher than 2015’s ... Read More »

11 industries ready to back Danish tax break plan

11 industries ready to back Danish tax break plan

COPENHAGEN: The Social Democratic Party (SDP) laid out its plans for boosting the Danish economy, including extending the tax reduction on research and development. “The deduction will increase productivity, resulting in enhanced competition, and increased exports, which is about DKK7 billion (€941 million) higher than it otherwise would have been,” the SDP said. Siemens, Vestas and nine other industrial companies ... Read More »

Denmark stocks lower at closing of trade, OMX Copenhagen20 fell 0.01%

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COPENHAGEN: Denmark stocks were lower after the close on Friday, as losses in the Healthcare, Consumer Services and Financials sectors led shares lower. At the close in Copenhagen, the OMX Copenhagen 20 fell 0.01%. The best performers of the session on the OMX Copenhagen 20 were Dong Energy A/S (CO:DENERG), which rose 2.32% or 6.00 points to trade at 265.00 ... Read More »

3 Denmark’s 2016 revenue up 12%, EBIT up 11%

3 Denmark’s 2016 revenue up 12%, EBIT up 11%

COPENHAGEN: 3 Denmark published figures for its operations in 2016, which differ from those published earlier this week by Hutchison, which owns 60 percent of Tre Danmark. Tre said its figures include its sub-brands, Oister and Zenji. Full-year revenue rose by 12 percent to DKK 3.2 billion, said the company. EBIT climbed by 11 percent year on year to DKK ... Read More »

Maersk inks deal with Denmark to pay less tax

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COPENHAGEN: Shipping and Oil Company A. P. Moller-Maersk reached an agreement with the Danish state that means it will pay less tax on its North Sea oil and gas activities through 2025. The deal, which has been under negotiation for months, makes it viable to redevelop the Tyra field through which 90 percent of Denmark’s gas production is processed, and ... Read More »

Biggest Danish banks involved in money laundering

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COPENHAGEN: The two biggest banks in Denmark, Danske Bank and Nordea, have been used for money laundering on an epic scale, reports Berlingske. Authorities in Moldova and Latvia are investigating an international criminal network that has managed to hide billions of kroner – the proceeds of illegal activities – in a number of international banks, including Nordea and Danske Bank. ... Read More »

Danish supermarkets change avocado supply policies

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COPENHAGEN: Two of Denmark’s largest grocery chains have made changes to their supply of avocados from Chile. The green fruit is so popular with consumers in Western countries that it has indirectly led to water shortages and deforestation in the Chilean province of Petorca, according to a study from the media and research centre DanWatch. Chile is among the major ... Read More »

Maersk and Hamburg Süd sign ‘Sale and Purchase Agreement’

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COPENHAGEN: Denmark’s Maersk Line’s acquisition of German liner Hamburg Süd is making headway as the two parties signed a Sale and Purchase Agreement. The sale of Hamburg Süd’s ownership and main business assets, including vessels and containers, to Copenhagen-based Maersk Line is still pending until it’s been checked for legitimacy on antitrust grounds by EU antitrust regulators at the end ... Read More »

Denmark stocks lower after closing, OMX Copenhagen20 declines 0.19%

Denmark Stocks lower

COPENHAGEN: Denmark stocks were lower after the close on Friday, as losses in the Financials, Personal & Household Goods and Consumer Services sectors led shares lower. At the close in Copenhagen, the OMX Copenhagen 20 declined 0.19%. The best performers of the session on the OMX Copenhagen 20 were Nets A/S (CO:NETS), which rose 2.45% or 2.60 points to trade ... Read More »

Denmark signs agreement to sell Plumrose USA

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COPENHAGEN: Danish Crown signed an agreement to sell its American subsidiary Plumrose USA to Brazilian-based JBS, which is the world’s largest meat-processing company. The sale is based on the 4WD strategy, under which Danish Crown has decided to focus its business on Northern Europe and Asia. Group CEO Jais Valeur, Danish Crown, said: “The focus of Danish Crown’s 4WD strategy ... Read More »