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Netherlands

Royal Dutch Shell to buy BG Group for $70b in first oil super-merger in a decade

AMSTERDAM: Royal Dutch Shell has agreed to buy smaller rival BG Group for $70 billion in the first oil super-merger in more than a decade to close the gap with the world’s largest oil firm US ExxonMobil. In a joint statement, the two firms said Shell would pay a mix of cash and shares that would value each BG share ... Read More »

FedEx makes €4.4b cash offer for Dutch firm TNT Express

AMSTERDAM: American package delivery firm FedEx has made a €4.4bn all cash offer for Dutch peer TNT Express, both firms said in a joint statement. The offer price is a 33% premium on TNT Express’ closing price, the last day of trading before the Easter break. The offer is backed by TNT Express management and PostNL, which owns 15% of ... Read More »

Belgians paying 75% more for electricity than residents in Netherlands, France, Germany

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South Korea imposes ban on all poultry imports from Britain, Netherlands

SEOUL: South Korea imposed a ban on all poultry imports from Britain and the Netherlands, in a move aimed at preventing the spread of highly pathogenic avian influenza reported in the countries this week, the government said. As of Monday, all poultry products, including live animals, from the two European countries have been prohibited from entering the country, according to ... Read More »

Netherlands attracts 187 new foreign investment projects worth $3.5b, creates 6,000 jobs

AMSTERDAM: The US and Canada are fuelling a record influx of foreign investment in the Netherlands. Despite a fair bit of doom and gloom over global economy figures, foreign companies continue to grow and they continue to look at the Netherlands to help fuel that growth. The Netherlands Foreign Investment Agency (NFIA), an operational unit of the ministries of Economic ... Read More »

Starbucks €407 million profit invites EU scrutiny

AMSTERDAM: Starbucks Corp. is going through the grinder in Europe. The world’s biggest coffee chain has raised suspicions among regulators and local governments by reporting losses in its biggest European markets for years despite recording hundreds of millions of dollars in annual sales. Last year, as European Union regulators opened a formal investigation, a profit materialized: €407 million ($446.6 million), ... Read More »

Dutch mobile operators KPN, Vodafone, T-Mobile spend less on marketing to SOHO customers

AMSTERDAM: The Dutch mobile operators KPN, Vodafone and T-Mobile spent less on marketing to SOHO customers in the past year, according to figures from Adfact. KPN and T-Mobile spent significantly less targeting businesses of 1-10 people, despite this market growing by 14.5 percent since 2010. KPN spent a large amount of promoting SOHO products and services in 2010. The following ... Read More »

7 Dutch Bitcoin companies establish new association to collectively counter fraud

AMSTERDAM: Seven Dutch Bitcoin companies have collaborated to establish an association in order to counter fraud and collectively represent their shared interests. The association, which goes by the name Verenigde Bitcoinbedrijven Nederland (Associated Bitcoin Companies of the Netherlands or VBNL) was formally established in December of 2014, and plans to increase its presence this year. Although several of the associated ... Read More »

Purchasing Managers’ Index for Eurozone hits 10-month high of 52.2

AMSTERDAM: The European Central Bank’s defibrillator for the Eurozone economy appears to be working: the economy is growing at its fastest rate in nearly a year, and the threat of deflation, which had everyone spooked only four months ago, appears to be waning, according to surveys out. However, it’s a different story still in China, where a parallel survey showed ... Read More »

EU, Netherlands announce contribution of $30 million to Palestine

AMSTERDAM: The European Union and the Netherlands announced a contribution of about $34.2 million (€31.6 million) to the Palestinian Authority’s payment of its civil servants’ March salaries and pensions. In a joint press release, the EU revealed that it is making a contribution of approximately $34.2 million (€31.6 million) to the payment of March salaries and pensions of around 68,000 ... Read More »

US President to meet King Willem-Alexander of Netherlands in June

WASHINGTON: US President Barack Obama will meet with King Willem-Alexander of the Netherlands in June, the White House announced. Queen Maxima will accompany the King for his first three-day visit to the United States since ascending to the throne in April 2013, a trip that will also take them to Grand Rapids in the state of Michigan and the city ... Read More »

Royal Philips to sell lighting unit to investors for $2.8b for 80.1% stake

AMSTERDAM: Royal Philips NV agreed to sell a majority stake in its Lumileds lighting components unit to a group of investors as Chief Executive Officer Frans van Houten focuses the Dutch company on the consumer health-care market. The buyers led by GO Scale Capital beat a rival consortium consisting of KKR & Co and CVC Capital Partners and will pay ... Read More »

EU, Netherlands announce contribution of $30 million to Palestine

AMSTERDAM: The European Union and the Netherlands announced a contribution of about $34.2 million (€31.6 million) to the Palestinian Authority’s payment of its civil servants’ March salaries and pensions. In a joint press release, the EU revealed that it is making a contribution of approximately $34.2 million (€31.6 million) to the payment of March salaries and pensions of around 68,000 ... Read More »

Samsung introduces business products range in Netherlands

AMSTERDAM: Samsung is introducing in the Netherlands Samsung Business, a portfolio of products targeted at six specific business sectors. The offering was first announced at the Cebit trade show earlier this month. The portfolio consists of the Samsung Knox software for secure mobile device management, Samsung Smart Signage, Samsung Printing and other products optimised for business use. The products target ... Read More »

Christchurch tech company Jade Software expands to Indonesia, Netherlands

AMSTERDAM: Christchurch tech company Jade software is expanding its global reach, with new offices in the Netherlands and Indonesia. The firm, which creates software for monitoring shipping and logistics at global ports, said the new offices were bases from which to expand into Asia and Europe, Managing director David Lindsay said those offices would be the firm’s first presence in ... Read More »

Pierre Moscovici terms new EU tax rulings a ‘revolutionary’ step

AMSTERDAM: New EU plans to force governments to send quarterly reports on tax rulings are a “revolutionary” step towards overcoming corporate secrecy, the bloc’s tax commissioner said. The blueprint published two weeks ago by the Commission would establish a system of automatic exchange of information on tax rulings and require national authorities to send each other short reports every three ... Read More »

Dutch bank ABN Amro executives renounce €100,000 bonus after public commotion

AMSTERDAM: Six managing directors at the Dutch bank ABN Amro have renounced a €100,000 ($109,000; £73,000) bonus after a “public commotion”, the bank says. ABN Amro said the outcry over the allowance, which was partly to compensate for tougher laws on bankers’ bonuses, was “detrimental” to clients, employees and public trust. “We understand and regret the turbulence that has arisen,” ... Read More »

Dutch airliner KLM buys 17 planes from Brazilian manufacturer Embraer for $764 million

AMSTERDAM: Dutch airliner KLM said that it is buying 17 planes from Brazilian manufacturer Embraer for $764 million (700 million euros), and placed an option to buy 17 more. The new aircraft, to be delivered from December, will replace 19 Fokker jets currently in service. KLM said the Embraers offer a bigger seating capacity and greater fuel efficiency. They will ... Read More »

Netherlands’ tax regime enabling Canadian gold company to pay €1.7m less tax in Greece

AMSTERDAM: The Netherlands’ tax regime is enabling a Canadian gold mining company to pay less tax in Greece, a report by a Dutch foundation concluded. The Centre for Research on Multinational Corporations found that Greece has missed out on at least €1.7 million in tax revenues, because the company, Eldorado Gold, profited from the Dutch tax rules. The report comes ... Read More »

Netherlands police seize 105kg of narcotics during search of house in Rotterdam

AMSTERDAM: Police confiscated 105 kilograms of narcotics during a search of a house in Rotterdam. A tersely worded press release from the police spokesman said the house at Spanjaardstraat was raided after a tip that there were drugs inside. There was no one present when officers arrived. With the help of a drug sniffing dog the narcotics that were wrapped ... Read More »