Wednesday , March 22 2017
Breaking News


Biggest Danish banks involved in money laundering


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


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’


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

handshake - join hand

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 »

Denmark, Alibaba signs MoU to enhance Danish exports

Denmark, Alibaba signs MoU to enhance Danish exports

HANGZHOU: Alibaba Group Executive Vice Chairman Joseph Tsai and Danish Minister of Foreign Affairs Anders Samuelsen recently attended the signing of a memorandum of understanding (MoU) at Alibaba headquarters in Hangzhou, which is aimed at increasing Danish exports to China and promoting Denmark as a tourist destination for Chinese travelers. According to details, the new Denmark Pavilion was also unveiled ... Read More »

Denmark’s gambling revenues boost in 2016

Denmark’s gambling revenues boost in 2016

COPENHAGEN: Denmark’s gambling revenues were significantly boosted by online gambling in 2016, according to yearly figures tabulated by the nation’s gambling regulator. Danish gambling regulator Spillemyndigheden called the expansion of online casino operations the key to facilitating a national year-on-year increase in gross gaming revenue (GGR) for 2016, with all vertical performance providing a telling profile of the Danish market. ... Read More »

Danish biotech MonTa raises 270,000 euros from innovative incubator


COPENHAGEN: Copenhagen-based biotech company MonTa BioSciences Aps has raised 270,000 euros from the incubator Pre-Seed Innovation for their promising cancer treatment. The Danish firm has found a method in which the body’s immune system is trained to actively recognize and fight cancer cells. The treatment makes use of nanoparticles of less than one ten thousandth of a millimetre, which is ... Read More »

Denmark looks into building North Sea wind Energy Island

Denmark looks into building North Sea wind Energy Island

COPENHAGEN: Denmark teamed up with Germany and the Netherlands to look into the possibility of building an island in the North Sea to locate wind turbines in the future. The artificial island, which will include a harbor and a landing strip for aircraft, is proposed to be six square kilometers in size and be located on Dogger Bank, a large ... Read More »

Danish exporters decide not to export onion this year


COPENHAGEN: Danish onion producers and exporters have been met with a slow market and low prices. Axel Månsson from Danish vegetable producer Axel Månsson A/S said the oversupply in the market has driven down the onion prices. “This would normally be our peak period for onion exports, but we are not going to export this year due to the situation ... Read More »

Denmark plans to enhance relationships with New Delhi & Tehran

Danish Foreign Minister Anders Samuelsen

COPENHAGEN: The Danish government announced plans to expand its official co-operation with India and Iran through sustainable urban development and patents regarding products. To this end, the Foreign Ministry intends to deploy growth advisers to the two nations – as well as to new projects in China, Mexico, South Africa and Indonesia, where co-operative measures are already in full swing. ... Read More »

Maersk, IBM to boost shipping with blockchain technology


COPENHAGEN: IBM and Maersk will partner to use blockchain technology to conduct, manage and track transactions in the shipping supply chain. The companies said they collaborated on creating blockchain tools for cross-border transactions among shippers, freight forwarders, ocean carriers, ports and customs authorities. According to Maersk and IBM, the blockchain effort, built on the Linux Foundation’s open source Hyperledger platform, ... Read More »

Denmark shares lower at closing of trade, OMX Copenhagen 20 fell 0.66%

Chinese stocks drop on growth concern as banks, developers fall

COPENHAGEN: Denmark equities were lower at the close on Friday, as losses in the Industrials, Chemicals and Oil & Gas sectors propelled shares lower. At the close in Copenhagen, the OMX Copenhagen 20 fell 0.66%. The biggest gainers of the session on the OMX Copenhagen 20 were Jyske Bank A/S (CO:JYSK), which rose 0.95% or 3.5 points to trade at ... Read More »

Denmark optimistic for come-back in poultry exports

Denmark optimistic for a come-back in poultry exports

COPENHAGEN: Danish poultry expects once again to be exported and traded abroad, according to the Environment and Food Ministry. The ministry said in a statement that a three-month quarantine period, which was implementing in adherence with international rules following the discovery of avian influenza type H5N8, has expired. Danish poultry had been quarantined since November. “The main obstacle to us ... Read More »

Denmark’s online casino market boosts up in 2016

Denmark’s online casino market boosts up in 2016

COPENHAGEN: Danish gambling regulator Spillemyndigheden cited expansion within the country’s online casino market as one of the main reasons behind a year-on-year hike in gross gaming revenue during 2016. Gross gaming revenue (GGR) from sports betting and online gambling over the past 12 months amounted to DKK3.7 billion (€5 billion/$5.3 billion), up 13% on the amount generated by the end ... Read More »

Denmark LM Wind Power’s Q4 revenue increases 35%

Denmark LM Wind Power’s Q4 revenue increases 35%

COPENHAGEN: Denmark Blade manufacturer LM Wind Power said revenues increased 40% year-on-year in 2016 to €1.01 billion. This was aided by a 35% increase in revenue in Q4, which totalled €280.9 billion – up from €207.7 billion a year earlier, the company said in its interim 2016 report. The Danish firm said the strong performance was down to higher volumes, ... Read More »

AKVA Denmark marks record sales in Q4, 2016

AKVA Denmark marks record sales in Q4, 2016

COPENHAGEN: AKVA ended last quarter 2016 with record high sales and order intake, but with red numbers mainly due to restructuring costs in its operations in Denmark. The revenue for Q4 was NOK449 million (USD 53.7 million), compared to NOK344 million (USD41.2 million) in the same period of the year before, but EBITDA fell by 11 per cent to NOK24 ... Read More »

Denmark’s Maersk signs partnership with Chinese e-logistics platform


COPENHAGEN: Denmark’s Maersk Line signed a strategic agreement with the Chinese online logistics platform Yun Qu Na to jointly develop online booking services. Yun Qu Na was launched in Febuary 2015 and provides a platform to facilitate deals between small to medium sized shippers and shipping agencies. Through the collaboration with Maersk, users of Yun Qu Na can directly book ... Read More »

Denmark, Azerbaijan signs convention to avoid double taxation & tax evasion

Denmark, Azerbaijan signs convention to avoid double taxation & tax evasion

COPENHAGEN: Denmark and Azerbaijan have signed the convention on avoidance of double taxation and prevention of tax evasion on income taxes. The document was signed by Azerbaijani Minister of Taxes Fazil Mammadov and his Danish counterpart Karsten Lauritzen. Mammadov said that the document will contribute to the development of trade relations between the two countries. Karsten Lauritzen noted that the ... Read More »

Denmark, Vietnam enter on maritime partnership

Denmark, Vietnam enter on maritime partnership

COPENHAGEN: Andreas Nordseth, Head of Danish Maritime Authority, visited Hanoi and met with counterparts in Ministry of Transport and Vinamarine to foster a new bilateral maritime partnership, writes Embassy of Denmark in Vietnam. As maritime nations and trade nations, Denmark and Vietnam share many interests, including in developing maritime business activities, human resources and green shipping. In Ho Chi Mihn ... Read More »