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Royal Dutch Shell divests Gabon onshore assets in $1B deal

Royal Dutch Shell divests Gabon onshore assets in $1B deal

AMSTERDAM: Royal Dutch Shell plc, through its affiliates, has reached an agreement with Assala Energy Holdings Ltd. a portfolio company of The Carlyle Group, to sell 100% of its Gabon onshore interests for USD 587 million. The Sale & Purchase Agreement (SPA) is subject to certain conditions which include various approvals. Closing is expected in mid-2017. The purchaser will also ... Read More »

Dutch economy in surplus of €3b

Dutch economy in surplus of €3b

AMSTERDAM: The Dutch economy is poised to grow by 2.1% this year and 1.8% in 2018, the government’s macro-economic think tank CPB said on Friday in a new report. Both years will show a budget surplus and unemployment will continue to fall, the CPB said. Earlier on Friday, national statistics office CBS said the government booked a budget surplus of ... Read More »

Vietnam, Netherlands eyes to boost bilateral ties


HANOI: Vietnamese Minister of Agriculture and Rural Development Nguyễn Xuân Cường met the Netherlands’ visiting deputy agriculture minister Marjolijn Sonnema to discuss co-operation opportunities between the two countries. Cường said it was a good decision for the two countries to have become strategic economic development partners in 2014. The focus of bilateral co-operation on selection of food and nutritional security ... Read More »

Shareholders want Akzo Nobel to settle PPG’s revised offer

Shareholders want Akzo Nobel to settle PPG’s revised offer

AMSTERDAM: Shareholders piled pressure on Dutch paint maker Akzo Nobel to open talks with U.S. rival PPG Industries after Akzo rejected a revised 22.7 billion euro takeover offer as too low, too risky and a bad fit culturally. With Akzo insisting that the interests of staff and investors were best served by its plan to spin off its chemicals division ... Read More »

Dutch commission insists on strong Britain-EU trade ties after Brexit


AMSTERDAM: The Netherlands should push for the European Union to keep strong trade ties with Britain after the British quit the EU, a report commissioned by the Dutch parliament said. Britain is the Netherlands’ second-largest trading partner, accounting for 9 percent of exports, according to the paper by two members of the Dutch parliament. “Any restriction on free trade with ... Read More »

Netherlands keen to enhance bilateral ties with Vietnam


HANOI: Netherlands is eager to join hands with Vietnam to improve the quality and efficiency of its agriculture, a business forum on Agriculture-Innovation in Vietnam said. Dutch Vice Minister for Agriculture Marjolijn Sonnema said the Netherlands and Vietnam are very similar countries, both with deltas and being major producers and exporters of agricultural products. She is leading a trade mission ... Read More »

Netherlands biggest supplier of vegetables for EU


AMSTERDAM: The Netherlands was the biggest supplier of vegetables for the EU in 2016, with a volume of 6118.32 million kilos worth 4,895.29 million and an average price of 0.8 euro per kilo. Spain ranked second in volume, but surpassed the Netherlands in income. The EU purchased 4,890.8 million kilos of vegetables from Spain that were worth 5,213.64 million euro ... Read More »

Dutch bell pepper delays to hit the market

Dutch bell pepper delays to hit the market

AMSTERDAM: The Dutch bell pepper production has not really got into its stride yet. “We had a very gloomy spring, which delayed the production, so it has been pushed back a bit. Naturally, it will all start happening next week. Apparently, Spain will be mostly finished in a few weeks, which suits the Dutch season,” says Hans Derks, commercial manager ... Read More »

Turkey aims to ban Dutch red meat


ANKARA: Turkey’s red meat association ordered a consignment of prize Dutch cattle to be sent back to the Netherlands, saying it no longer wants to farm the cows due to the diplomatic crisis between the countries. Bulent Tunc, the head of the Turkish Association of Red Meat Producers, told Turkish media that a symbolic consignment of 40 Holstein Friesian cattle ... Read More »

Dutch citizen sentence prison in Germany for smuggling cocaine


BERLIN: A Dutch citizen sentenced in Germany to 5 ½ years in prison for smuggling of cocaine inside his wheelchair from the Dutch Caribbean island of Curacao. A state court in Duesseldorf on Wednesday convicted the 57-year-old of importing drugs and assisting drug dealing. The customs officials found 11.2 kilograms (24.7 pounds) of cocaine worth 750,000 euros ($798,000) hidden inside ... Read More »

Netherlands, Turkey should resolve row, restore trade ties: Business Council


AMSTERDAM: A leading business council has called for the diplomatic row between Turkey and the Netherlands to be resolved in diplomatic manners, voicing hopes for ties to normalize soon. Turkey told the Netherlands on March 12 that it would retaliate in the “harshest way” after Turkish ministers were barred from speaking in Rotterdam about the upcoming Turkish referendum set to ... Read More »

Dutch GDP grows 2.1% in 2016

gdp rise

AMSTERDAM: Dutch GDP grew by 2.1% last year, which was the fastest rate since 2007 and a stronger performance than its neighbors, including Germany. Unemployment has fallen to 5.3% and more people are in work than before the crisis in 2007-08. After years of belt-tightening, households are spending again, thanks to a strong housing-market recovery and rising wages. Government finances ... Read More »

Akzo mulls breakup after rejecting PPG’s $22b offer


AMSTERDAM: Dutch paints and chemicals maker Akzo Nobel NV said Thursday it had rejected a EUR20.9 billion ($22.1 billion) offer from U.S. peer PPG Industries Inc., setting up a trans-Atlantic standoff between two long-lived industrial giants amid a wave of consolidation in the sector. Amsterdam-based Akzo also said Thursday that it is exploring selling off its special-chemicals division — a ... Read More »

Royal Netherlands Air Force signs agreement with UK’s GKN Aerospace for five years

Royal Netherlands Air Force

AMSTERDAM: GKN Aerospace’s Fokker business and the Royal Netherlands Air Force (RNLAF) have signed a multi-million euro agreement for a five-year period, covering standard parts supply and services for all of the RNLAF’s aircraft, helicopters and multiple support systems. After the five-year period, the contract can be extended twice for a period of one year. The total support solution covers ... Read More »

Dutch TenneT to sign accord with Danish Energinet


ARNHEM: Dutch power grid operator TenneT said it had found the first partner for its plan to create an offshore energy hub in the North Sea, Danish power transmission company Energinet.dk. TenneT’s plan, first announced in June, involves the construction of one or more artificial islands around Dogger Bank, roughly at the centre of the North Sea between Denmark, Germany, ... Read More »

Dutch expects good season sales of cucumber


AMSTERDAM: The Dutch cucumber season traditionally starts in the first week of March. The first Dutch organic cucumbers are also starting to arrive at Eosta. Janco Koole predicts a good season with good sales opportunities. The first batch comes from Fons Verbeek, and consists mainly of Organic Brothers. Soon, product from two other cultivators, who are currently finishing up their ... Read More »

Nigeria wants Royal Dutch Shell to reopen export pipeline


ABUJA: Nigeria wants Royal Dutch Shell to reopen one of its main pipelines but the oil multinational is resisting, analysts say, for fear it could once again be bombed by militants. The Trans Forcados Pipeline, the main feed to the 400,000-barrel-a-day Forcados export terminal, has been shut for all but three weeks of the past year, Lagos-based SBM Intelligence said ... Read More »

Royal Bank of Canada upgrades shares of Royal Dutch Shell PLC


AMSTERDAM: The Royal Bank of Canada upgraded shares of Royal Dutch Shell PLC from a sector perform rating to an outperform rating in a report. A number of other equities analysts also recently weighed in on RDS.A. Deutsche Bank AG reissued a buy rating on shares of Royal Dutch Shell PLC in a research note on Tuesday, November 15th. Zacks ... Read More »

Netherlands’ Mylan rebounds with strong Q4 results

Netherlands’ Mylan rebounds with strong Q4 results

AMSTERDAM: The full-year and fourth quarter 2016 financial results statement from generics and specialty drug maker Mylan appear to show the company has left its EpiPen troubles behind. The Netherlands-incorporated firm beat analysts’ revenue and profit expectations for the fourth quarter of 2016. Sales were bolstered by strong performance from recently acquired Meda, the Swedish speciality pharmaceutical firm. The company’s ... Read More »

Netherlands sees 4% increase in welfare recipients in 2016


AMSTERDAM: The number of welfare recipients in the Netherlands increased by 4 percent last year, according to figures Statistics Netherlands released today (Tuesday). At the end of December 2016 the Netherlands counted a total of 467 thousand welfare recipients, 18 thousand more than December 2015. The growth can mainly be attributed to non-Western immigrants, particularly asylum seekers who were given ... Read More »