Saturday , February 16 2019
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Denmark

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 »

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 »

More Banks in Crosshairs as Denmark’s Tax Probe Is Set to Grow

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Denmark is trying to find out just how many banks were involved in suspicious stock trades executed for the sole purpose of getting a tax rebate. The transactions in question started more than a decade ago, after Denmark and Switzerland made it possible to claim back taxes on dividends through a revised double-taxation accord between the two countries. Nordea Bank ... Read More »

Foreign investors planning lawsuit against Danske Bank

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A group of foreign investors are planning to sue Danske Bank to obtain compensation for losses sustained due to the bank’s shares taking a pounding on the stock market as a result of the money-laundering scandal. It has not been revealed who the investors are or what the sums involved are, reports Berlingske. “It seems obvious to us that there ... Read More »

Taxing the rich more than anywhere else in the EU

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The income tax and taxes related to wealth paid by Danes account for 29.7 percent of the country’s GDP, according to Eurostat figures for 2017. The proportion is quite easily the highest in the EU, ahead of Sweden (18.9), Belgium (16.9) and Finland (16.6). However, the disparity can be partly explained by the Danes paying the lowest proportion of net ... Read More »

Foreign investors planning lawsuit against Danske Bank

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A group of foreign investors are planning to sue Danske Bank to obtain compensation for losses sustained due to the bank’s shares taking a pounding on the stock market as a result of the money-laundering scandal. It has not been revealed who the investors are or what the sums involved are, reports Berlingske. “It seems obvious to us that there ... Read More »

Denmark to consider curbs on convicted investors after tax fraud

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COPENHAGEN: Denmark will consider new rules to restrict ownership of the country’s companies by investors involved in wrongdoing, a government minister said on Wednesday, responding to lawmakers’ questions about a tax fraud involving international banks. Business Minister Rasmus Jarlov made the remarks at a parliamentary hearing on the government’s response to a stock trading scam which Danish authorities say tricked ... Read More »

Danske Bank’s choice of CEO blocked by Danish regulator

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Danske Bank, which is reeling from a €200bn ((£176bn) money-laundering scandal, was dealt another humiliating blow on Wednesday when the Danish financial regulator blocked its candidate to become chief executive. The Danish Financial Supervisory Authority (FSA) intervened to stop the appointment of Jacob Aarup-Andersen, warning that the internal candidate did not have enough experience to lead the country’s biggest lender, ... Read More »

Denmark to revamp financial watchdog in wake of Danske Bank scandal: minister

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COPENHAGEN: Denmark plans to strengthen its financial regulator to make it better able to fight money laundering, its business minister said on Thursday, as the country’s largest bank, Danske Bank (DANSKE.CO), is embroiled in a major scandal. The scandal involves 200 billion euros ($230 billion) in payments through Danske’s Estonian branch between 2007 and 2015, many of which the bank ... Read More »

Danske Bank’s choice of CEO blocked by Danish regulator

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Danske Bank, which is reeling from a €200bn ((£176bn) money-laundering scandal, was dealt another humiliating blow on Wednesday when the Danish financial regulator blocked its candidate to become chief executive. The Danish Financial Supervisory Authority (FSA) intervened to stop the appointment of Jacob Aarup-Andersen, warning that the internal candidate did not have enough experience to lead the country’s biggest lender, ... Read More »

Denmark police arrest 12 connected to cannabis smuggling network

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12 people have been arrested in connection with the investigation of a criminal network which police believe to be responsible for widespread organised smuggling and sale of cannabis. The arrested individuals are between 32 and 49 years of age, Copenhagen Police confirmed in a press statement. The arrests took police during coordinated police raids. “This is a network that has ... Read More »

Class A drugs smuggled to Denmark via snail mail: court

PostNord går ind i ny fremtid med nyt stort underskud PostNord fik et underskud på 224 millioner svenske kroner i tredje kvartal. Redningsplan og svensk postlov mindsker usikkerhed om fremtiden, lyder det.se RB kl. 13.12 den 27.10.2017. arkivfoto: RB, 27-09-2017, kl. 19.20 (opdat. 19.36) Svensk minister er åben for opsplitning af PostNord Sveriges erhvervsminister, Mikael Damberg, afviser ikke, at det dansk-svenske postsamarbejde kan ophøre. PostNord stopper uddelingen af post i Vollsmose - - - - ARKIVFOTO. PostNord Danmark har driftsunderskud på mere end 200 millioner svenske kroner i første kvartal. (se Ritzau historie 280929) RB PLUS Gigantlagre skal redde nødlidende PostNord- - ARKIVFOTO 2016 af Postnord-bil- - Se RB 7/4 2017 09.15. Gigantlagre skal redde nødlidende PostNord. PostNord Danmark vil håndtere kæmpelagre for andre firmaer for at overleve. Konkurrenter som DTL Danske Vognmænd er bekymrede for unfair konkurrence fra staten.. (Foto: Henning Bagger/Scanpix 2017)

Smugglers use various methods to bring illegal substances to Denmark – including the country’s post system, according to a report from a preliminary court hearing. That may sound like an opportunity to make a wisecrack about the efficiency of the postal service, but the issue has resulted in an extensive investigation on Funen, Ritzau reports. Police on Funen are investigating ... Read More »

Two arrested in Denmark for attempting to smuggle drones to Isis

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COPENHAGEN: Two people were arrested in Copenhagen on Wednesday and charged with attempting to supply Islamic State with drones, which the organization has used to carry out attacks, police said. The two were arrested after police and Danish security and intelligence services carried out raids in Copenhagen, the police said in a statement. The two persons are suspected of being ... Read More »