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Dutch refinery fire reveals Europe’s dependence on imported diesel

fire

AMSTERDAM: Europe is known to be dependent on imported crude oil. But an incident at the EU’s biggest refinery this summer has shown that the European continent has also become dependent on import of diesel fuel. Europe is set to take a record of more than 2 million tonnes of US diesel in August after a string of refinery woes ... Read More »

Dutch exports to Britain fall in 2017 first half, rise to rest of EU

Morocco’s auto industry exports likely to rise to $10b by 2020

AMSTERDAM: Dutch exports to Britain fell 2% in the first six months of this year compared with the year earlier period, according to new trade figures from national statistics office CBS. By contrast, Dutch exports to the rest of the European Union were up 11% on the first half of 2016. In 2015 and 2016, exports to Britain rose more ... Read More »

Dutch economic growth set to reach 3.3% this year

sales growth

AMSTERDAM: The government’s macro-economic policy unit CPB on Wednesday revised its growth forecasts for the Dutch economy upwards to 3.3% this year and 2.5% in 2018. The increase is due to the ‘very strong second quarter’ and would mark the ‘the first time since the beginning of the crisis (2007) that growth is higher than 3%’. The figures are contained ... Read More »

Netherlands urged to improve company bike tax rules

138-day-Tax-rule-660x330

AMSTERDAM: Dutch tax rules surrounding the provision of company bicycles are complex and discourage people from cycling to their place of work, a Dutch motoring organization has said. Current rules for bicycles provided to employees by their employers work on a similar basis as company cars, in that bikes are generally leased by employers with tax based on the amount ... Read More »

MPs want answers about new tax avoidance trend

Belastingdienst Dutch Tax Office

AMSTERDAM: MPs have called on the caretaker government to make a statement about the growing use of ‘funds for common account’, which allow wealthy individuals to avoid inclusion in public company ownership registers by setting up a joint fund for their assets. The funds are taxed according to the actual profit they make and have been used by wealthy families ... Read More »

Germany imports 5 billion eggs from Netherlands

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AMSTERDAM/BERLIN: Germany has imported 5 billion eggs over the last year from the Netherlands, where Europe’s escalating insecticide-tainted egg scandal originated last week. According to Germany’s Federal Statistical Office (Destatis) millions of eggs containing the insecticide fipronil made their way to German markets. Most of the tainted eggs were imported from Belgium and the Netherlands. In 2016, Germany produced more ... Read More »

Dutch KLM claims to continue growth in July

klm

AMSTERDAM: Dutch flag carrier KLM continues to be upbeat about results for 2017. Following on positive traffic figures over the first six months of 2017, July similarly showed a continued increase in passenger numbers, KLM said in a statement on Wednesday. KLM registered 6.5% more passengers in July against a 2.4% increase in available capacity. This brings the load factor ... Read More »

RBS to make Amsterdam new trading hub

RBS

AMSTERDAM: Royal Bank of Scotland has picked Amsterdam as its post-Brexit European Union trading hub and will deliver 150 jobs in the Dutch capital, chief executive Ross McEwan said. Speaking at the presentation of the bank’s second quarter results, McEwan said the bank will build up its minor Amsterdam unit so that its trading division NatWest Markets can continue operating ... Read More »

Shell shuts Pernis plant until mid August for safety reasons

Shell shuts Pernis plant

ROTTERDAM: The massive Shell refinery in Rotterdam’s port area will remain closed until mid August at least after last weekend’s huge fire, the company has told news agency AFP. The Pernis refinery is capable of processing 400,000 barrels of petroleum products a day and is said to be the biggest refinery in Europe. There are 60 factories on the site. ... Read More »

The economy is speeding up: more fast-growing firms in Netherlands

Philippines Jan. exports rise at fastest pace in 3 years

AMSTERDAM: The number of fast-growing companies in the Netherlands rose to 7,300 last year, with the hospitality and building sectors leading the way, the national statistics office CBS said on Tuesday. The CBS defines a fast-growing company as one which employs at least 10 people and which expands its workforce by at least 10% over three consecutive years. The 2016 ... Read More »

Shell to cut hundreds of jobs at its Dutch operations

shell

AMSTERDAM: The Royal Dutch/Shell group said on Thursday it will cut ‘hundreds’ of jobs at Shell Nederland in response to falling oil prices. Shell Nederland has a payroll of 8,000, while the group employs 92,000 worldwide, the Financieele Dagblad said. Shell said trade unions and the works council have already been told about the plans. The jobs will disappear largely ... Read More »

Netherlands & Britain: biggest channels for tax avoidance

tax avoidance

AMSTERDAM: Britain and the Netherlands are two of the biggest channels for tax avoidance, with almost 40% of corporate investments hidden from the authorities travelling through the two countries on their way to a tax haven. According to a study carried out by a team of researchers at the University of Amsterdam, which has analysed the ownership structure of 98 ... Read More »

The Netherlands is world’s biggest conduit to offshore tax havens

Tax Haven

AMSTERDAM: The Netherlands is the biggest conduit to offshore tax havens in the world, with almost a quarter of fiscal constructions having a Dutch link, according to researchers at a specialist unit at the University of Amsterdam. ‘Only five big countries act as conduit-OFCs,’ the researchers from Corpnet said in a new report. ‘Together these five conduits channel 47% of ... Read More »

Dutch Statistics office declared economy healthy

Dutch Statistics office - CBS

AMSTERDAM: The Dutch economy remained as healthy in mid-July as it was one month earlier according to its business cycle tracer, the national statistics office CBS said on Tuesday. The CBS business cycle tracer (Conjunctuurklok) is a tool used to monitor the economic situation and economic developments. It uses a selection of 15 key macro-economic indicators, which – together – ... Read More »

Dutch state assets sink to new low level as gas prices fall

low growth rate

AMSTERDAM: The balance between the Dutch government’s assets and debts fell to a new low of €199bn in 2016, according to figures published on Friday by the national statistics office CBS. This represents a decline of €57bn from 2015, and is the lowest level since the list was first compiled in 2001. The state’s assets have been in decline since ... Read More »

Dutch flowers exports rise 6.5%

flowers

AMSTERDAM: Sales of Dutch cut flowers and plants to Poland soared by 27% year-on-year in the first six months of 2017, according to latest figures from the sector organization VGB. The eastern European nation is now the fifth largest market for Dutch flowers, overtaking Belgium. Cash amounts were not provided. The VGB attributed the growth in sales to the recovering ... Read More »

Dutch must not abandon reforms as economy picks up

netherlands-flag

AMSTERDAM: In the middle of the euro crisis reforming the economy seemed an important and unavoidable priority. But once the ECB saved the euro and started buying bonds European capitals began to feel much less convinced. The principle is still valid; it is a truth universally acknowledged that only structural reform – principally in the labour market but also the ... Read More »

Stability in Danish, Dutch pork exports

PORK

COPENHAGEN: Exports of fresh and frozen pork from Denmark and the Netherlands in the first quarter of 2017 were stable on a year earlier, reports Leo Colby, AHDB Consultant. However, both countries benefitted from a sharp rise in export prices given the firmer EU pig market in 2017. One key difference though between the two countries was that Dutch exporters ... Read More »

Rotterdam port drug bust: 150 kilos marijuana found in wall tile shipment

Bundles of the estimated 4,000 pounds of confiscated marijuana line the Hidalgo County Sheriff's Department evidence room in Edinburg, Texas April 14, 2009. REUTERS/Jessica Rinaldi (UNITED STATES POLITICS CONFLICT SOCIETY)

ROTTERDAM: Customs officers at the port of Rotterdam found over 150 kilograms of marijuana while checking a shipment of wall tiles destined for England on Wednesday, the Public Prosecutor announced on Friday. The 155 packets of drugs, each about a kilogram, were hidden in iron boxes in between the tiles. The marijuana, which was wort about 1.5 million euros in ... Read More »

Customs official sentenced 14 years imprisonment on corruption

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ROTTERDAM: A corrupt Customs officer working at the Rotterdam harbour was sentenced on Tuesday to 14 years in prison for clearing containers which contained cocaine from South America. Gerrit G. earned millions with his side-business, money that he spent on, amongst other things, luxurious vacations in Curaçao. The proceeds of the corrupt handlings of the 56-year-old Customs officer were estimated ... Read More »