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Netherlands

Dutch plan to limit banker’s bonuses to 20pc of salary delayed

HAARLEM: The introduction of a lower cap on bonuses for bankers which should have come into effect on January 1 has been delayed indefinitely. This means the January 1 deadline was not met. The finance ministry has confirmed the indefinite delay. The Financieele Dagblad said the delay is likely only to be a month or two. The measure has already ... Read More »

Dutch’s Royal HaskoningDHV clinches Bangladesh coastal protection contract

AMSTERDAM: Royal HaskoningDHV, Dutch civil engineering group has won a contract to develop and oversee the construction of a major coastal protection plan in Bangladesh. The 6 year contract has a value of €10.5 million and will protect the low lying country against natural disasters and the impact of climate change. Further the total project, which is funded by the ... Read More »

Shell to pay $84 million compensation to Niger Delta village for oil spills

AMSTERDAM: Shell, Anglo Dutch oil giant has agreed to $84 million (€70 million) out of court settlement with a village in the Niger Delta as compensation for oil drops in 2008 and 2009. The remaining $30m will go to the community. Thousands of hectares of mangrove swamp were polluted by the spills, ruining drink water supplies and forcing the fishermen ... Read More »

Global rating agency Fitch confirms AAA rating for Netherlands

AMSTERDAM: Global rating agency Fitch suggested that the AAA rating of the Netherlands was confirmed, the Dutch economy this year shows a slow recovery after the contraction of the last two years. Fitch expects the Dutch economy this year with 1.2 percent growth. Hence the CRA is slightly less optimistic than before. The Netherlands is classified unchanged by Fitch in the ... Read More »

Philippines Customs seizes P1.5M worth ‘Ecstasy’ pills from Netherlands

THE HAGUE: Philippines Bureau of Customs (BoC) has seized a parcel containing P1.515 million worth of “Ecstasy” pills from The Netherlands, which the bureau immediately turned over to the Philippine Drug Enforcement Agency (PDEA) here the other day. In a statement, the BoC said the parcel containing 1,010 tables of methylenedioxy methamphetamine or MDMA, otherwise known as “Ecstasy,” was seized ... Read More »

Suriname police seize 310 gram illicit drugs, clutch Dutch woman

PARAMARIBO: Suriname police have seized 310 gram drugs and arrested a 38-year-old Dutch woman on drug related charges as she attempted to board a flight at the Johan Adolf Pengel International Airport here the other day. A police statement said that the woman, identified only as Rachel A and the holder of a Dutch passport, had checked in for a ... Read More »

Stichting Pensioenfonds voor Huisartsen to increase pension rights by 3.45% in Netherlands

AMSTERDAM: Stichting Pensioenfonds voor Huisartsen (SPH), the €9.3b occupational pension fund for general practitioners in the Netherlands, has said it will increase pension rights by 3.45% in light of its “favorable” financial position. SPH has a nominal coverage ratio of approximately 140% and is one of the three best-performing pension funds in the Netherlands In addition, it plans to cut its ... Read More »

Royal Dutch Shell settles $84m lawsuit for 2008 Niger Delta oil spill

AMSTERDAM: Royal Dutch Shell (Shell) reached a settlement in a lawsuit concerning the Niger Delta oil spills of 2008. The settlement, totaling USD $84 million, will be divided between 15,600 individuals who will receive $3,300 each as compensation for losses caused by the spills. Shell has previously faced legal action in the UK, Netherlands and Nigeria for these oil spills ... Read More »

38-years Dutch woman arrested for smuggling cocaine

PARAMARIBO: From Johan Adolf Pengel International Airport, a 38 years old woman arrested by Suriname Police on drug related charges as she attempted to board a flight. Suriname Police say they have arrested a 38-year-old woman on drug related charges as she attempted to board a flight at the Johan Adolf Pengel International Airport on Sunday. A police statement Tuesday ... Read More »

International Energy Agency asks US to increase Gasoline Tax

AMSTERDAM: Van der Hoeven is a former economics minister for the Netherlands. She points out that the US currently has a lower gasoline tax than any other major developed country except Mexico. Maria van der Hoeven, head of the International Energy Agency, has issued a call for the US to raise the federal gasoline tax now while prices are low. ... Read More »

European Central Bank considers three options to buy govt bonds

AMSTERDAM: The European Central Bank is considering three possible options for government bonds purchases measures of its January 22 policy meeting. One of the measures, the countries of government bonds in accordance with the investment rate to the eurozone countries of ECB purchases ECB directly, those that provide liquidity to the financial system. The second option, purchase only government bonds of triple ... Read More »

Netherlands, Nigeria sign agreement on non-oil-goods trade

AMSTERDAM: Dr. Taco Westerhuis is the First Secretary of the Embassy of the Kingdom of the Netherlands in Nigeria. Responsible for trade and investment relations between both countries, he works from the Lagos Office of the Embassy. Before his posting to Nigeria, Westerhuis was in charge of West Africa relations at the Dutch Ministries of Economic Affairs and Foreign Affairs. ... Read More »

Netherlands spends Euro 500m on 75 startup investment deals

AMSTERDAM: There were a total of 75 startup investment deals in the Netherlands in 2014, with a total investment of slightly more than 500 million euro. This is according to Startup Juncture, a site that keeps track of all Dutch startup news. According to the site, it is relatively easy for startups to raise smaller amounts of funding of less ... Read More »

New car sales in Netherlands fall by 6.9% in 2014

AMSTERDAM: The sales of new cars in the Netherlands fell by 6.9 percent in 2014 to 387,835 new cars sold. This is according to the industry organizations BOVAG, RAI Association and RDC and Central Bureau Mobility Information. Like last year, the decrease was dampened by a little sprint in the last month of the year. This was mainly due to ... Read More »

Netherlands startups raised €500m investment last year

AMSTERDAM: There were a total of 75 startup investment deals in the Netherlands in 2014, with a total investment of slightly more than 500 million euro. This is according to Startup Juncture, a site that keeps track of all Dutch startup news. According to the site, it is relatively easy for startups to raise smaller amounts of funding of less ... Read More »

KPN moves US court against Samsung for using patent technology of Dutch company

AMSTERDAM: KPN has sued Samsung in the United States because of the unauthorized use of a patented technology of the Dutch telecom company. A spokesperson for KPN confirmed this to ABM Financial News after seeing reports in the media. According to KPN, Samsung is using technology for data transfer that the Dutch company has patented in various smartphones, including the ... Read More »

230 of Rabobank’s ATMs closed after car strike in Netherlands

AMSTERDAM: Approximately 230 of Rabobank’s ATM’s are empty because of the strike at money transporter Brinks Nederland, Rabobank announced on Sunday. That is 10 percent of the 2,300 ATM’s the bank has in the Netherlands, reported NL Times. The strike had a much smaller effect among the other banks. A spokesperson for ABN Amro said that at most 20 to ... Read More »

Netherlands: Private equity, investor startups raised €62m in 2014   

AMSTERDAM: Dutch start-ups raised at least €62m from private equity and investors this year Business. Dutch start-ups raised at least €62m from private equity companies and investors this year, according to research by the NRC. The bulk of the investment 62% came from Dutch investors but US and British groups have also been heavily investing in new Dutch firms, the ... Read More »

Brink’s Co expects $130m operational revenue in Netherlands

RICHMOND: On a non-GAAP basis, 2014 results from Netherlands operations Brink’s company was expected to include approximately $130 million of revenue, $14 million of segment operating profit, and net income of $10 million or 20 cents per share. (Non-GAAP results for 2014 will exclude the estimated fourth-quarter charge of $20 million to $25 million related to restructuring costs and the ... Read More »

Helsinki Police Dept official found guilty of 6 counts including 800kg drug smuggling  

AMSTERDAM: The former head of the drug enforcement division of Helsinki Police Department found guilty of six counts including 800 kg of hashish from Netherlands into Finlad. Aarnio also faces a slew of charges for offences in office. He was charged with three counts of aggravated abuse of public office for requesting court authorisation for the use of coercive measures ... Read More »