Consultancy and service firm Royal Imtech N.V. formally entered bankruptcy protection on Thursday. The fate of part of the Gouda-based company's workforce, including 22,000 global employees, of which 2,700 are in the Netherlands, is not yet known.
Inflation in May rose to 1.1 percent according to the consumer price index, reports Statistics Netherlands (CBS). Prices in the month were pushed up by increasing holiday and travel expenses, leading to the highest level reached in the last seven months.
The OECD improved its forecast for the growth of the Dutch economy. The Netherlands is now expected to grow by two percent in 2015, and 2.2 percent the following year. Previously, the organization estimated the growth of 1.4 and 1.6 percent respectively.
The number of jobs filled in the Netherlands will increase for the first time in three years in 2015, according to benefits agency UWV. It is a sign the economic recovery is beginning to take hold in the workforce, which will develop even further next year when growth in the labor market should increase further, UWV says.
In the next ten years, the government is planning to invest 135 million euros into development of supercomputers with exponential power, known as quantum computers. The cabinet intends to strengthen the position of the Dutch institute for quantum technology, QuDelft, which will help scientists and companies take advantage of the developing science.
The number of bankruptcies in the Dutch economy is expected to fall by 15 percent over the course of 2015, according to credit insurance firm Atradius. The number is decreasing because of the improving conditions in the economy, but still remains relatively high in construction and non-food retail and even rises in some of the sectors.
The Netherlands owe even more money to the EU in additional tax than previously thought, reports Telegraaf. The amount due is estimated at 133 million euros, which comes on top of 1.1 billion euros already paid in additional taxes to the European Union last year.
The Netherlands is the first and only country to pay the additional tax owed to the European Union, reports Telegraaf. Other states that have to pay extra, according to newer calculations, are Bulgaria, France, Italy, Cyprus, Malta, Slovenia and United Kingdom.
The Dutch government has approved the sale of the nationalized bank ABN Amro, taken over by the Netherlands in October 2008 during the global economic crisis. The cabinet gave the go ahead on Friday, according to broadcaster NOS.
Companies are taking less time to pay their bills than any other time in the last decade. It takes an average of 43.4 days for a company to repay a bill, which is the lowest in the last 13 years, according to the data on payment behavior from the rating agency Graydon.
Income of clothing stores declined sharply between 2010 and 2013 in the Netherlands. Operating profit fell from over 500 million euros in 2010 to just 150 million in 2013, a drop of 70 percent, Statistics Netherlands revealed on Monday.
Dutch small and medium-sized enterprises are generally performing better as compared to previous years, reports the accounting firms network SRA based on a survey of 3,200 businesses. Average turnover of SMEs in the Netherlands increased in 2014 by 3.9 percent.
After a better-than-expected first quarter, the growth of the Dutch housing market is going to continue in 2015 and 2016, according to Rabobank. Housing prices are expected to rise between 1.5 and 3.5 percent during 2015, the bank's analysts say.
The Dutch economy grew for the fourth consecutive quarter, as the figures for the first quarter published by Statistics Netherlands show. The growth amounted to 0.4 percent as compared to the last quarter of 2014. Compared to one year before, the size of taThe Dutch economy grew for the fourth consecutive quarter, as the figures for the first quarter published by Statistics Netherlands (CBS) show. The growth amounted to 0.4 percent as compared to the last quarter of 2014. Compared to one year before, the size of the Dutch economy increased by 2.4 percent.he Dutch economy increased by 2.4%.
The Dutch economy is expected to grow by 1.6 percent and 1.7 percent in 2015 and 2016, respectively, the European Commission revealed on Tuesday. This growth estimate is below the predicted Euro Area and European Union averages and also below the Dutch forecasts presented earlier by ING.
The government may have additional financial obligations to the EU. The new calculations by Statistics Netherlands (CBS) show that the economic output in 2011 and 2012 was higher than previously estimated. This would require the Netherlands to pay more in contributions to the European Union.
Mortgages of 165,000 homes in the Netherlands are no longer “under water”, according to Rabobank. Currently, there are around 900,000 underwater homes in the Netherlands, down from 1.1 million at the beginning of 2014.
Finance minister Jeroen Dijsselbloem told reporters before the Eurozone finance ministers meeting in Riga that reaching a deal with Greece is unlikely today. When asked about the prospect of reaching a deal soon, he replied “April is not over yet,” reports The Guardian.
The economy grew in 10 of the 12 Dutch provinces last year, according to Statistics Netherlands (CBS). Friesland and Groningen were the exceptions.
Recovery of the Dutch economy is gaining strength and could lead to two percent growth in 2015, the ING bank economic bureau reports. This would be the highest level of growth since 2008, driven mainly by an increase in consumer and business spending, and a decline in the oil prices.
Financial directors are more optimistic about the Dutch economic recovery than a year earlier, according to the survey of Dutch CFOs conducted by Deloitte. Still, nearly a third feel unprepared for an economic crisis, and a third believe a new crisis is on the horizon.
Dutch yacht builders are losing revenue because of the Western sanctions against Russia, and restrictions on several wealthy Russians who cannot enter European naval space. Shipbuilders in the Netherlands are losing several hundred millions in sales, reports FD.
Companies can help stimulate the economy by increasing worker wages well above the current low rate of inflation, said Klaas Knot, President of the Dutch Central Bank. An improvement in purchasing power is the best way for the Dutch economy to move forward, he said at the International Monetary Fund meeting on Friday.