Tuesday , October 15 2019
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Former Danske Bank boss vanishes in wake of billion kroner money-laundering scandal


The Estonian police are concerned that a key figure in the billion-kroner Danske Bank money-laundering scandal has disappeared. Aivar Rehe, 56, who headed Danske Bank’s branch in Estonia from 2006 to 2015, was last seen leaving his house in Tallinn at 10:00 on Monday morning. The police fear for his well-being and have been searching a wooded areas near his ... Read More »

Banker tells German court of “vast network” at center of fraud trial


A banker at the center of a trading scheme German prosecutors say resulted in hundreds of millions of euros of illegitimate tax rebates told a court the scheme had taken on an “industrial scale” involving a network of banks and other institutions. Martin Shields, a former investment banker, said that a web of banks, investors and brokers had organized the ... Read More »

Danish business concerned about world trade slump


Danish business leaders are concerned about the third consecutive quarter of decline in world trade, which fell by 1.4 percent in June, after hitting continuous lows since last fall. New figures from CPB World Trade Monitor indicate that the economic slump is the biggest since the crisis of 2008, and is attributed to the US-China trade war and slow economic ... Read More »

Danish bank announces negative interest rates for millionaire saving accounts


A Danish bank has announced it will begin charging millionaires a fee to store their money. Jyske Bank will impose a negative interest rate of 0.6 per cent for clients who deposit more than 7.5m Danish kroner (£916,000). In effect, it means millionaires will lose money to the bank every year. The bank, the country’s second-largest lender, will introduce the ... Read More »

Trump warned that island cannot be bought from Denmark


Greenland has said it is “not for sale” after President Donald Trump stated that he would like the US to buy the world’s biggest island. The president is said to have discussed the idea of purchasing Greenland, an autonomous Danish territory, during dinners and meetings with advisers. But Greenland’s government dismissed the idea, saying: “We’re open for business, not for ... Read More »

Oil rises 1.2% on prospect of US interest rate cut


Oil prices edged higher on Monday as the prospect of an expected interest rate cut by the U.S. Federal Reserve overshadowed pessimism over U.S.-China trade talks and worries about slower global economic growth. Brent crude rose 0.2% to $63.60 a barrel, while U.S. West Texas Intermediate (WTI) crude futures settled up 1.2% at $56.87 a barrel. “Prices appear to be ... Read More »

Denmark’s corner of the global economy is shrinking


According to new figures from the national confederation for industry, Dansk Industri (DI), Denmark’s share of the global economy has dwindled in recent decades. The figures show that the Danish economy now accounts for 2.2 percent of the world economy, down from 4.5 percent in 1980. “Denmark has gone from being a minnow to a microbe nation. While a number ... Read More »

Danish businesses fear the worst as Johnson takes power in UK

-Arkiv- RB PLUS Flere grønne job kan blomstre i Vestdanmark - - - RB plus. Rasmus Helveg: Det er grøn blok mod sort. Et regeringsskifte vil koste mange grønne arbejdspladser og dansk eksport af energiteknologi. Blå blok er blevet sort som kul, mener klima- og energiminister. Glem alt om rød og blå blok. Ved det kommende folketingsvalg skal vælgerne beslutte, om de vil støtte grøn blok eller sort blok. Sådan lyder det fra klima- og energiminister Rasmus Helveg Petersen (R), som beskylder Venstre, Dansk Folkeparti og Liberal Alliance for at svigte kampen mod klimaændringerne og sætte tusinder af danske arbejdspladser og en voksende grøn milliardeksport på spil. Mens der tampes på valgtrommerne, hævdes det ofte i debatten, at der ikke er væsensforskel på rød og blå blok. Men intet kunne være mere forkert, mener Rasmus Helveg og peger på sit eget område. - Venstre har netop meddelt, at de ikke længere vil forfølge de mål, statsminister Anders Fogh Rasmussen satte i 2008 om at gøre Danmark frit af fossile brændsler, men at de vil gøre det på en anden måde.... (Foto: Henning Bagger/Scanpix 2017)

Interest organizations representing Danish businesses have warned of the increased risk of a no-deal Brexit following Tuesday’s confirmation that Boris Johnson will be the new British prime minister. Johnson will take over from Theresa May on Wednesday after winning 66 percent of the votes of around 160,000 Conservative Party members in the party’s leadership contest, thereby becoming the UK’s new ... Read More »

Danish Crown Prince Couple to take part in a business visit to France

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The Danish Royal Court announced on 1 July that Crown Prince Frederik and Crown Princess Mary will lead a Danish business delegation during an official business visit to Paris, France on 7 and 8 October 2019. The theme of the visit is “Denmark and France – together for a better life and a sustainable future”. The purpose of the visit ... Read More »

Danish economy on the rise, new figures indicate


The latest figures from Statistics Denmark show there has been a 0.5 percent growth in the Danish manufacturing sector between March and April. Morten Granzau, chief economist at Dansk Industri (DI), considers this to be an important early indicator of the nation’s growing economy. The manufacturing industry generates around 16 percent of the country’s jobs and 18 percent to the ... Read More »

Apple Axes $921m Data Centre Project In Denmark For ‘Business’ Reasons


The company’s European data centre expansion plan is certainly not going to plan after the axing of its €850m data centre in Ireland as a result of planning delays. Apple has axed plans to build a second $921m data centre in Denmark after buying the land for it back in 2017. Construction had already started at the 285-hectare site in ... Read More »

Ports to position Denmark as a global maritime power hub by 2025


As logistics hubs, Denmark’s ports will be vital in assuring future growth in the nation’s maritime sector. This was the message from Minister for Industry, Business and Growth Brian Mikkelsen in the wake of the launch of the new Plan for Growth in the Danish Maritime Sector presented by the Danish Government in early 2018. The Minister sees the Southwest ... Read More »

Eight EU countries call for 25% of budget go towards fighting climate change


Eight European countries have proposed a quarter of the European Union‘s budget be spent on tackling climate change. Belgium, Denmark, France, Luxembourg, the Netherlands, Portugal, Spain and Sweden also said the EU should cut greenhouse gas emissions to a net-zero level “by 2050 at the latest”. “Climate change is a global challenge with profound implications for the future of humanity ... Read More »

Danske Bank picks ex-ABN banker as CEO to rebuild trust

danske bank

* Danske Bank names ex-ABN AMRO banker Vogelzang as CEO * Vogelzang to take over from interim CEO on June 1 * Follows resignation in October of Thomas Borgen * Borgen quit after revealing money laundering scandal * Danske Bank shares up 4.2% after CEO news (Adds Vogelzang comment, background) COPENHAGEN, May 10 (Reuters) – Danske Bank hired former ABN ... Read More »

Denmark exports were ‘worst in eight years’

(ARKIV) DSV central i Hedehusene. Efter et stærkt første kvartal trækker DSV sine forventninger til hele 2019 på grund af opkøbet af Panalpina. Det skriver Ritzau, tirsdag den 30. april 2019.. (Foto: Simon Skipper/Ritzau Scanpix)

The figure comes from stats agency Statistics Denmark, which monitor’s the country’s overseas trade. The March decrease was not enough to overshadow results from January and February, however, with an overall trade increase of 1.4 percent for the first three months of the year. Denmark still maintains a trade surplus, but the disappointing monthly result is the cause for some ... Read More »

In numbers: The impact of the seven-day SAS strike

STOCKHOLM 2019-04-29
Tavla med avgångar på Arlanda flygplats visar
inställda flyg på grund av SAS-piloternas strejk
De skandinaviska SAS-piloternas strejk är inne på fjärde dagen. Ett tusental flyg ställs in under måndagen och tisdagen.
Och någon lösning är fortfarande inte i sikte.
Foto: Tove Eriksson / TT / kod 10510

A Scandinavia-wide strike by SAS airline pilots ended after seven days having disrupted the travel plans of hundreds of thousands of passengers. The Local takes a look at the key facts and figures to know. Read More »

Denmark launches hydrogen-powered taxis in bid to clear emissions

Otte nye brinttaxaer lanceres i overværelse af transportminister, Ole Birk Olesen (V), som skal køre rundt i København, på Refshaleøens i København tirsdag den 30. april 2019.. (Foto: Liselotte Sabroe/Ritzau Scanpix)

An element of the government’s climate and air quality programme includes full conversion to zero-emissions taxis in the country’s cities by 2030. Energy specifications for taxis will be gradually updated so that no new vehicles emit CO2 or polluting particles from 2025, the Ministry of Transport, Building and Housing said in a press statement. Minister for transport Ole Birk Olesen ... Read More »

Danish police arrest seven in raid on smuggling network


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


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


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 »