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ING Groep NV receives €14.00 target price by Credit Suisse

ING Groep NV receives €14.00 target price by Credit Suisse

AMSTERDAM: ING Groep NV received a €14.00 ($15.05) target price from stock analysts at Credit Suisse Group in a note issued to investors on Monday. The firm presently has a “neutral” rating on the stock. Other research analysts also recently issued reports about the stock. J P Morgan Chase & Co set a €14.30 ($15.38) price target on shares of ... Read More »

Aegon reports strong net income in Q4 2016

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AMSTERDAM: Underlying earnings up to EUR 554 million driven by strong expense management, improved claims experience and higher interest rates. Expense savings reached an annual run rate of EUR 110 million, significantly exceeding the 2016 target. Fair value items result of EUR (13) million as gains in the Netherlands from widening credit spreads and higher interest rates were offset by ... Read More »

Dutch calf export rules fails to ‘impede’ Irish exports

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AMSTERDAM: The Department of Agriculture has said new rules on live exports by authorities in the Netherlands has not damaged Ireland’s crucial trade with the country. Out of overall Dutch imports of approximately 750,000 calves last year, Ireland supplied 27,000 head, well behind Germany (550,000) and Belgium (50,000). According to the Department of Agriculture, the issues arising in relation to ... Read More »

US import tariffs could cost Dutch economy billions: ING

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AMSTERDAM: If American president Donald Trump goes through with his plan to protect the United States’ industry with tariffs on imported goods and services, the Dutch economy could suffer a loss of billions of euros, according to calculations by ING Bank, Financieele Dagblad reports. The bank based its calculations on a U.S. import duty of 10 percent. If that is ... Read More »

Dutch Bank, FinTech develop SME Robo-Accountant

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AMSTERDAM: Netherlands-based bank ABN AMRO is working with invoice management firm InvoiceSharing, also based in the Netherlands, to develop a new accounting automation solution for SMEs. ABN AMRO and InvoiceSharing are also creating a “robo-accountant” to check invoices, make notes and export invoices to accounts. Their collaboration is part of the bank’s innovation unit, Econic, reports said, and they are ... Read More »

Tax accounts for 45% of the average energy bill

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AMSTERDAM: Tax is currently the biggest component of domestic energy bills in the Netherlands and is set to increase even more within the next three years, according to comparison website pricewise.nl. The website says Dutch households currently pay an average of €60 in a special tax to fund sustainable energy development. However, by 2020, the ODA levy will have gone ... Read More »

Netherlands must prosecute dirty diesel exporters: Report

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AMSTERDAM: The Netherlands and Belgium could prosecute dirty diesel exporters Trafigura and Vitol for contravening international agreements, environmental law experts have told Trouw. The diesel, which is blended with sulphur and benzene in the ports of Amsterdam, Rotterdam and Antwerp, is commonly sold to African countries by European oil companies who are taking advantages of the weak fuel standards in ... Read More »

Glanbia to pay €181m for US, Dutch health food firms

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AMSTERDAM: Glanbia has announced it is to acquire two new companies in a major €181m investment. The Irish food giant is to purchase Amazing Grass in the US and Body & Fit in Holland. Amazing Grass has a portfolio of organic brands in the “greens” and “superfoods” categories. Body & Fit is a direct provider to consumers in the area ... Read More »

Dutch group Levarht to co-invest in “biggest” NZ avocado orchard

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AMSTERDAM: Dutch company Levarht has been given the green light to co-invest in what is reported to be New Zealand’s largest proposed avocado orchard, according to local media Stuff. Harbour Edge Avocados, which is 50% owned by capsicum grower Southern Paprika, applied to the Overseas Investment Office (OIO) to buy a 405-hectare dairy farm in the Kaipara District for NZS$8 ... Read More »

Pilot arrested on toilet jailed for cocaine smuggle plot

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AMSTERDAM: A Dutch pilot arrested in a hotel toilet with his trousers down has been jailed along with his accomplice for smuggling £2.4m of cocaine into the UK. John Buwalda and Jan Polak were found guilty of plotting to smuggle the Class A drugs using a light aircraft following a trial at the Old Bailey. They were arrested near Rochester ... Read More »

Dutch hotel prices continue to rise as economy recovers

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AMSTERDAM: Spending a night in a hotel in the Netherlands is becoming increasingly expensive as economic conditions continue to improve, according to ABN Amro’s economic agency. Last year the price of a night in a Dutch hotel increased by about 8 percent, and the bank expects the prices to continue increasing this year, ANP reports. A hotel room in the ... Read More »

Royal Dutch Shell’s key earnings fall 44%

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AMSTERDAM: Royal Dutch Shell reported worse than expected fourth-quarter results after booking $500m of impairments but the Anglo-Dutch group said it was making progress towards recovery from a two-year downturn. Earnings on a current cost of supply basis, the measure most closely watched by investors, fell 44 per cent to $1.03bn, from $1.84bn in the same period last year. Excluding ... Read More »

Royal Dutch Shell sells 10 North Sea holdings for £3b

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AMSTERDAM: Royal Dutch Shell (LSE: 0LN9.L – news) is to offload its holdings in 10 North Sea oil fields in a move worth up to £3bn. The FTSE 100 energy firm’s latest divestment since its takeover of BG last year would mean its interests in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond and Erskine transferring to ... Read More »

Dutch economy’s achilles heel, warns DNB

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AMSTERDAM: The Dutch national bank has called for tax relief on mortgage payments to be scaled back further by the government that takes office after the March election. Job Swank, executive director of monetary affairs and financial stability, said the ‘generous loan subsidy’ was exposing the Dutch economy to unnecessary risk. The overheated housing market in the first decade of ... Read More »

Netherlands won’t join EU’s fraud public prosecution office

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AMSTERDAM: A majority of the Dutch parliament are not in favour of ‘more Europe’ during the election campaign, the paper said. The EPPO would be able to launch criminal probes and prosecute individuals. While the cabinet does back the setting up of a new anti-fraud body, VVD, Christian Democrat, Socialist and minor party MPs consider it would be a ‘direct ... Read More »

Dutch lawmakers push for tighter tax avoidance measures

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AMSTERDAM: Dutch lawmakers have called on the government to develop tougher legislation to combat tax avoidance with greater transparency and oversight of tax rulings granted and exchanged among tax authorities. Five separate motions including a call to clamp down on tax avoidance by letterbox companies—submitted by a handful of Finance Committee members, were approved Jan. 24 by a majority of ... Read More »

Dutch women jailed for smuggling £88,000 of cocaine

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AMSTERDAM: Three Dutch women have been jailed for smuggling £88,000 of cocaine into Britain in their knickers. The trio – who were travelling on a Eurolines coach from Amsterdam – were stopped by Border officers in Dover, Kent, in December last year. And when officers asked them if they were bringing in any drugs the mothers stunned guards by producing ... Read More »

Panama seized two containers of Dutch onions

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AMSTERDAM: Panama’s Food Safety Authority (AUPSA) seized two containers with purple and yellow onions from the Netherlands at the Port of Balboa. Their arrival was irregular as the onions had been harvested more than 120-days ago, which is the maximum period of time established by the Fresh Onion Bulbs Export Protocol between the Netherlands and Panama. Danny Diaz, the head ... Read More »

Dutch customs launches simplified e-commerce declaration

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AMSTERDAM: Dutch Customs has teamed up with members of the Schiphol cargo community to launch a new, simplified e-commerce declaration called VENUE. According to Schiphol Cargo, VENUE will help shippers import and export items that are being purchased via e-commerce platforms throughout the Union Customs Code transition period, which ends in January 2021. “Together with Dutch Customs we are engaged ... Read More »

Dutch revenue grows 3.8% due to high prices

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AMSTERDAM: Royal FloraHolland rounded off 2016 with a revenue of € 4.6 billion, an increase of 3.8% compared with last year. This growth in revenue was primarily due to higher prices – 4.2% on average – for flowers and plants. The largest international flower and plant marketplace in the world sold 12.5 billion products last year. Lucas Vos, CEO of ... Read More »