Tuesday , December 12 2017
Breaking News


Maersk’s Tyra field redevelopment secures Danish gas supply,


COPENHEGEN: Approval of the $3.33bn redevelopment of the ageing Tyra field, operated by Maersk Oil offshore Denmark, is one more indication that the countries bordering the North Sea aren’t going to give up on flagship assets that have served them well in the past without a fight, and a belief that European gas demand will support them over the coming ... Read More »

Moody’s: Denmark’s credit profile reflects high wealth levels,


COPENHEGEN: Frankfurt am main, december 06, 2017  Denmark’s Aaa stable credit profile is supported by its high and evenly distributed wealth levels, a resilient and diversified economy and robust public finances, Moody’s Investors Service said in a report today. The annual update, “Government of Denmark  Aaa stable, annual credit analysis”, is now available on www.moodys.com. Moody’s subscribers can access this ... Read More »

Higher taxes in Greece do not increase revenue in Treasury


COPENHEGEN: The increased taxes in Greece are not achieving their goal and actually lead to a reduction of the revenue in the Treasury. This is behind the government’s “successful story” about budget surpluses and social dividends. Although the budget has a larger than expected surplus, the tax revenues, both direct and indirect, do not achieve the targets and are below ... Read More »

Denmark revamps tax system to boost investment


  COPENHAGEN: Denmark’s government has reached agreement with other parties to simplify one of the world’s most complex tax systems – including phasing out a 100-year old tax on nuts. The town hall is pictured in Copenhagen, Denmark April 19, 2017. REUTERS/Fabian Bimmer The country’s right-leaning government wants to cut taxes and trim bureaucracy to encourage Danes to work more ... Read More »

Denmark to support smes to spot tax errors


  COPENHAGEN: From January 2018, the Danish tax agency will launch a pilot scheme to support small- and medium-sized enterprises on value-added tax and direct tax compliance matters. The new “VAT and tax check” (moms- og skattetjek) will mean that SMEs can, at their own discretion, have an accountant review a number of selected tax issues, including, for example, the ... Read More »

Denmark police arrest 12 connected to cannabis smuggling network


  COPENHAGEN: 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 on Wednesday. “This is ... Read More »

3 Denmark gains 17,000 customers in Q3, revenue rises thanks to smartphone campaign


  COPENHAGEN: 3 Denmark said it gained 17,000 new customers in the third quarter, giving it a total of 1.27 million. Revenue in the period rose to DKK 713 million from DKK 703 million last year, amid tough competition. Revenue was buoyed by its summer campaign for smartphones and strong start to sales of the new iPhones. Third quarter service ... Read More »

Danish Government will cut tax on cheapest cars to 85% from 105%


  COPENHAGEN: Denmark will lower the tax rate on the cheapest cars to 85 percent from 105 percent in a move that will cost the government about 600 million kroner ($100 million) next year. The cheap-car category will also be expanded to include vehicles costing up to 185,000 kroner compared with the current cap of 106,600 kroner, the country’s finance ... Read More »

Denmark’s Damco launches new office


DENMARK: The Embassy of Denmark in Cambodia has encouraged more Danish companies and investors to explore investment opportunities in the kingdom, arguing that in an increasingly competitive global market, it is crucial that national governments and individual businesses cooperate to increase business activity. Uffe Wolffhechel, the Danish Ambassador to Cambodia and Thailand, who was speaking during the inauguration of Damco ... Read More »

Danish production, labour needs increasing

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DANISH: Companies are creating more jobs, but there is a lack of available hands to take them on, says the Confederation of Danish Industry (Dansk Industri, DI). Production in Denmark, measured in GDP, increased by 0.7 percent in the second quarter of 2017 compared to the first quarter. When compared to the same quarter last year, GDP has increased by ... Read More »

Denmark oil and gas market 2017 by facilitate decision making


  COPENHAGEN: “Denmark Midstream Oil and Gas Industry Outlook to 2022 Market Forecasts for Oil Storage, Pipelines, Underground Gas Storage and Gas Processing”, is a comprehensive report on midstream oil and gas industry in Denmark. The report provides natural gas production, consumption, exports and imports from 2010 to 2022. It also provides historic gas reserves for the period 2010 to ... Read More »

Danske Bank lifts forecast for Danish 2017 GDP growth to 2.4%

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COPENHAGEN: Denmark’s largest lender Danske Bank said on Thursday it now expects the country’s gross domestic product to grow by 2.4 percent this year, up from an earlier forecast of a growth of 1.9 percent. Danske also lifted its forecast for 2018 GDP growth to 2.0 percent from a previous estimate of 1.7 percent. While Denmark’s central bank has warned ... Read More »

Online gaming drives record Danish revenue in Q2


DANISH: Danish regulatory body Spillemyndigheden has cited a positive performance by the national online gaming market as one of the main reasons behind record gambling revenue in the second quarter of 2017. Gross gaming revenue during the three-month period amounted to DKK1.46bn (€196.5m/$234.2m), an increase of nearly 4% on the corresponding quarter last year. Online casino revenue hiked almost 16% ... Read More »

Denmark retail sales fall for third month

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DENMARK: Denmark’s retail sales declined for the third straight month in August, figures from Statistics Denmark showed Thursday. Retail trade turnover dropped a seasonally and price-adjusted 0.3 percent month-over-month in August, following a 0.2 percent fall in July. Sales of food and other groceries decreased 0.1 percent over the month and clothing and related sales by 0.2 percent. Similarly, sales ... Read More »

Danish central bank hikes growth view, warns of overheating risk


COPENHAGEN: Denmark’s central bank raised its growth forecasts on Wednesday for this year and next, flagging a risk of overheating as it urged the government not to stimulate the economy further. The central bank now expects the economy to grow 2.3 percent this year, up from a forecast in March of 1.6 percent. For next year it hiked its prediction ... Read More »

Danish inflation remains unchanged in August, likely to fall to 1.3% in Sep


COPENHAGEN: Denmark’s inflation surprised again in the month of August by staying unchanged at 1.5 percent year-on-year after a huge jump in July. The consumer price inflation print was expected to drop to 1.1 percent, noted Danske Bank in a research report. Most of the recent rise in consumer price was due to transitory factors. The reversal was not seen ... Read More »

Denmark to invest in tax administration overhaul


COPENHAGEN: The Danish Government will spend DKK10.5bn (USD1.68bn) in reforming Denmark’s tax administration over the next few years, according to the Tax Ministry. Denmark’s tax authority, the SKAT, will be replaced by seven independent management boards on July 1, 2018, in an attempt to introduce more specialization across a wide area of tax administration. Last year, parliament approved DKK5bn of ... Read More »

Danish govt. seeks cuts in capital gains tax

Bangladesh frozen food exporters seek tax cut in upcoming budget

COPENHAGEN: The Danish government on Wednesday proposed cuts in capital gains tax to encourage people to invest in stocks some of the 850 billion Danish crowns ($137 billion) currently sitting idle on bank accounts. Under the proposal, investors will be able to earn up to 100,000 Danish crowns per year on stock investments and be taxed at 27 percent. Currently, ... Read More »

Maersk oil deal ‘difficult’ for founding family


COPENHAGEN: AP Moller-Maersk is to sell its oil and gas assets to French firm Total for $7.45 billion, a decision the matriarch of the founding family described as “difficult, but right”. The agreement follows an announcement late last year by Maersk that it would split its operations into two entities, one focussed on energy (Maersk Oil), the other on container ... Read More »

Maersk agrees to sell oil unit to Total in $7.45b deal


COPENHAGEN: Total is buying Maersk Oil in a $7.45 billion deal which the French oil major said would boost its earnings and cash flow, and bolster its dividend prospects. Danish company A.P. Moller-Maersk is selling its Maersk Oil division to Total to focus on other activities including its shipping business. Under the terms of the deal, A.P. Moller Maersk will ... Read More »