The hospitality and entertainment industries are hit hard by the outbreak of the coronavirus Covid-19, and the measures the Dutch government announced to fight the spread of the virus. The number of cancellations in the Netherlands increased by 48 percent and no new reservations are coming, hospitality association KHN said to BNR.
A mass selling of stocks triggered by the increasing spread of coronavirus Covid-19 combined with sharply falling oil prices resulted in stock markets across Europe crashing on Monday morning. Amsterdam's AEX fell over 7.6 percent within the first 45 minutes of Monday's trading, compared to Friday's close, before a slight rebound
The outbreak of coronavirus Covid-19 means that tourism from China to the Netherlands will decrease even more than previous estimations, according to the Netherlands' office for tourism and congresses NBTC. Last month the agency said that the number of Chinese tourists visiting the Netherlands would decrease from around 380 thousand last year to 300 thousand this year. Now NBTC expects the decrease to be even stronger, NOS reports.
After more than 28 years, Ralph Hamers is leaving ING. The 53-year-old CEO of one of the Netherlands' largest banks was named the new chairman of the board of Switzerland's largest bank UBS. Hamers, who has been CEO of ING since 2013, will be taking over from Sergio Ermotti at UBS, NOS reports.
Over the past two years banks ABN Amro, ING, Rabobank, and the Volksbank received nearly 5 thousand reports of help desk fraud amounting in almost 5.3 million euros in damages, NU.nl reported based on figures received from the Public Prosecution Service (OM). The banks' reports seem to contradict previous statements from the OM that help desk fraud is decreasing, the newspaper wrote.
A mail bomb exploded at an ING facility in Amsterdam on Thursday afternoon. On person was checked over for smoke inhalation by paramedics at the scene, the Amsterdam police said on Twitter.
The incident happened on Bijlmerdreef. Firefighters, paramedics and police were first dispatched to the scene just after 12:15 p.m.
Nearly half of tenants in the Netherlands don't think they will ever be able to buy a home, according to an international study by ING among nearly 3 thousand tenants who have never owned a home. 48 percent of Dutch tenants think they'll never buy, compared to the European average of 38 percent, RTL Nieuws reports.
Tenants in the Netherlands who think they will eventually buy a house, largely expect to only do so later in life. Only 6 percent think they will buy a house before they turn 30, and another 6 percent think they'll do so by the time they're 34.
Charities in the Netherlands fear that they will lose hundreds of thousands of euros per year to banks once negative interest rates on savings are implemented, Financieele Dagblad reports after speaking to four charities.
Banking institution ING has become the second bank in the Netherlands to charge a negative interest rate on certain savings accounts. Customers will face a -0.50 percent interest rate for any amount in an account above one million euros, the bank said on Friday.
The policy will affect about 6,400 current clients. The negative rate is charged per account, and not per customer.
Dredging company Van Oord, ING Bank and credit insurer Atradius were all involved in an urban development project in Angola in which 3 thousand families were forcibly driven out of their homes to make from for the project, Trouw and Financieele Dagblad report based on leaked documents.
An employee of Amsterdam housing corporation Stadgenoot stole millions of euros from the company, insiders told the Telegraaf. For years the senior financial worker regularly transferred between 10 thousand and 20 thousand euros into the account of her minor daughter, the newspaper writes.
The woman was caught when ING became suspicious of the transactions and notified the authorities. She used the money for gambling and luxury vacations, according to the newspaper.
Dutch banking institution Rabobank said it has no plans to dismantle its cash machines on a wide-scale basis after robbers made two separate attempts to use explosives to break into the bank's ATMs early Monday morning. Just last week, police said that other banks' cash machines would be targeted more frequently after ABN Amro decided to remove 470 of its own ATMs across the country.
Four banks teamed up with the Dutch government and authorities to fight against financial service providers who launder money for criminals, Financieele Dagblad reported on Friday based on information from an anonymous source.
According to FD, ABN Amro, ING, Rabobank and Volksbank signed a covenant with the National Police, the FIOD, the Public Prosecution Service, and financial intelligence unit FIU. This "serious crime task force" will focus on upper world lackeys who facilitate undermining crime.
The bag of gifts Sinterklaas brings to your door will cost the holy man 2.6 percent more this year than it did last year, according to calculations by ING Economic Bureau. The price of most traditional Sinterklaas gifts increased over the past year, at least partly due to the increase in the low VAT rate, NU.nl reports.
Sweets and chocolate letters are 3.3 percent and 5 percent more expensive respectively. Toys saw a price increase of 1.5 percent. Books and fragrances now cost 3.3 percent more. The only cheaper gift is jewelry, 1.2 percent cheaper than last year.
Banks in the Netherlands have joined the fight against problematic debts. From now on banks will refer customers who are regularly in the red to website Geldfit, where they can get help with managing their money problems. The same applies to customers who use up their savings quickly or miss payments on a bank loan, NOS reports.
The police suspect a Dutch-Bosnian drug cartel of large-scale money laundering, part of which happened through ING and ABN Amro bank accounts, newspaper AD reports based on police documents in its possession.
ABN Amro is lowering the interest on its freely withdrawable savings accounts from 0.02 percent to 0.01 percent as of November 1st, the bank said on its website on Friday. Savings interest at ING is still 0.02 percent and at Rabobank 0.03 percent, NU.nl reports
People in the Netherlands use 26 billion pieces of plastic food packaging per year - 1,500 pieces of plastic per Dutch person per year, or four per day, according to a study by ING Economic Bureau. And plastic consumption continues to grow along with the population, increasing by around 100 million pieces of packaging every year, NOS reports.
Multiple board members and former board members of ING may still be prosecuted for their role in a massive money laundering case at the bank. The court in The Hague will soon rule on an Article 12 procedure that can force their prosecution, the Financieele Dagblad reported on Friday.
Five Dutch banks want to team up and establish an organization to tackle money laundering together. The idea is that by viewing the banks' total 10 billion transactions per year together, it will be easier for the organization - which they plan to call Transactie Monitoring Nederland (TMNL) - to identify suspicious activities, the Dutch association of banks NVB said to RTL Nieuws.
Instant bank transfers is now available to customers of seven Dutch banks. With the introduction of Instant Payments, customers can transfer money at night, over the weekend and on public holidays and it will immediately show in the recipient's account, instead of the recipient having to wait for the next business day, the Dutch Payments Association said to AD.
ING customers are furious by the prospect of their bank maybe charging negative interest on their savings accounts. CEO Ralph Hamers mentioned this as an option to cushion the blow should the European Central Bank decide to cut interest rates again, RTL Z reports.
Since 2010 Dutch banks and insurers provided around 7.9 billion euros in financing to large shale gas and plastic companies, according to research by the Fair Banking and Insurance Guide. ING was the largest Dutch financier for these companies, investing 3.5 billion euros into them, NU.nl reports.
Mobile payment method Apple Pay finally launched in the Netherlands on Tuesday, over 4.5 years after the service was introduced. The service allows users to pay for goods and services using their Apple devices instead of debit cards at contactless terminals where Maestro is accepted.