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Denmark

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

DENMARK

  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%

DENNARK

  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

DAMCO

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

DENMARK

  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%

gdp growth

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

revenue

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

sales fall

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

DCB

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

inflation

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

denmarkflag

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

maersk

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

maersk

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 »

Maersk faces hefty cyber attack bill; upbeat on shipping outlook

maersk

COPEN HAGEN: Denmark’s A.P. Moller Maersk gave an upbeat outlook for container shipping, lifting its shares by as much as 4.5% as investors looked beyond one-off second-quarter charges and a costly cyber attack on its operations. Maersk has been hit by low oil prices at its energy arm and sliding prices in its shipping business in recent years due to ... Read More »

Denmark government drops plan to cut tax for rich

Bangladesh frozen food exporters seek tax cut in upcoming budget

COPENHAGEN: Denmark’s governing coalition has shelved plans to make changes to the country’s top tax bracket, which would have affected tax cuts for the wealthiest people in the country. No parliamentary negotiations on changes to taxation of Denmark’s highest earners will take place during the autumn, Liberal Alliance (LA) leader and foreign minister Anders Samuelsen told press. Samuelsen said that ... Read More »

Denmark needs to improve its anti money laundering efforts: report

money - currency - money laundering

COPENHAGEN: Denmark needs to improve its anti money laundering efforts, the internal organisation Financial Action Task Force (FTAF), an international organization that sets global standards for fighting illicit finance, said in a report. “Denmark does not have a national strategy to combat money laundering and terrorist financing and needs to do more to properly assess and understand the risks it ... Read More »

Milk shortages lead to hike in dairy produce prices

Ukraine’s international reserves rise in February

COPENHAGEN: Over the last year, the supermarket price of a litre of milk has risen by 1.50 kroner. After several years of falling milk prices, farmers have responded by producing less of it. Together with an increase in worldwide demand, this has led to higher prices, reports DR Nyheder. Farmers are now getting 2.77 kroner per litre for milk – ... Read More »

Maersk Line returns to Wellington

MAERSK

COPENHAGEN: Maersk Line has announced it will resume its weekly container shipping service to Wellington. The service will return once CentrePort has completed works that will allow its ship-to-shore cranes to operate. These works were required following damage sustained in the November 2016 Kaikoura earthquake. They are expected to be largely complete by September. The Jens Maersk, deployed on Maersk ... Read More »

Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.31%

Denmark stock

COPENHAGEN: Denmark stocks were lower after the close on Friday, as losses in the Software & Computer Services, Technology and Industrials sectors led shares lower. At the close in Copenhagen, the OMX Copenhagen 20 declined 0.31%. The best performers of the session on the OMX Copenhagen 20 were Pandora A/S (CO:PNDORA), which rose 0.69% or 5.0 points to trade at ... Read More »