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Government falls with Letterme resignation
The July 15 reactions to Belgiums latest government crisis
reflected longstanding divisions among the countrys political
parties with some calling for more talks others demanding
fresh elections and others still urging a split of the country along
its linguistic divide. Prime Minister Yves Leterme...
New deal sees USD 52 bln to Anheuser-Busch from InBev
Belgium-based beer company InBev and Anheuser-Busch
announced anagreement to combine the two companies
early last week after negotiations had become hostile and then
reversed on the road to forming the worlds largest global brewer.
Anheuser-Busch shareholders will receive USD 70 per share
in cash for...
InBev CEO says Budweiser still a part of St. Louis
On June 27 reports surfaced of court documents in Delaware confirming that InBev intends to continue with their hostile take-over attempt of Anheuser- Busch AB although the St. Louis-based home of Budweiser in the US openly declared that they were...
Fortis shares slide its worst fall ever down 18.9%
The Fortis share price took the worst fall in history on June 26 losing 18.9 pct on Eurotext Brussels and ended at its lowest level since 2003. Investors got rid of a massive number of shares after Fortris announced emergency...
Lotte Group says it has plans to acquire Guylian
The Belgian manufacturer of premium boxed chocolates Chocolaterie Guylian would soon be acquired by Lotte Group the South Korean major it was reported last week. Guylian is the secondlargest premium chocolate maker in Belgium after Godiva. The move would give...
Belgacom takes on Tele2 telecoms in a big sale
International telecoms operator Tele2 AB last week announced that it had sold its Tele2 Luxembourg along with Tele2 Liechtenstein operations to Belgian operator Belgacom for around two billion Swedish crowns 212.06 million Euro in cash. As an important step in...
Agfa launches nursing solution ORBIS Care in Belgium
Imelda Hospital in Bonheiden Belgium last week announced the successful completion of a test run of the Orbis solution from Agfa HealthCare electronically registering more than 15 000 nursing documentations. Imelda Hospital is one of Agfa HealthCares pilot sites in...
Sabic plans a new compounding plant
Belgium is set to get a new compounding plant from Sabic. Last week the company said it would be setting up its new plant in Genk Belgium. The plant will have an initial production capacity of 110 000 tonnes of...
IBM Belgium partners up with BDNA
IBM Belgium recently inked a deal with BDNA. The deal is an agreement for a multinational procurement relationship. As laid in the document IBM Global Services would offer BDNAs software as a managed service to its customers. BDNAs technology would...
Manufacturing industry investment up 12.3%
The provisional results of the May 2008 survey
indicates that investment in fixed capital
goods in manufacturing industry expressed
at current prices grew by 12.3 percent in
2007 the sharpest increase since 1990. The
investment growth would nearly stabilise at
12 percent in 2008 according to...
Direct employment in six ports rises 1.3% in 2006
During 2006 direct employment in Belgiums six ports Flemish maritime ports - Antwerp Ghent Ostend and Zeebrugge - and the Liege port and Brussels increased by 1.3 percent. This expansion was entirely based on traffic growth a study by the...
Bekaert to close its plant in Lanklaar
The Belgium-based steel cord
provider on of the largest manufacturers
providing bedding
and other industries with their
products Bekaert has annunced
its intention to close the
production plant in Lanklaar.
The management also decided
to integrate the Waregem production
entity into other plants
within the Bekaert group.
The intended closure of...
Leterme announces initiative on Suez interest in Fluxys
In the power struggle between Suez and the municipal holding Publigas premier Leterme has sided with the latter. He announced in the Chamber that the government will force Suez to drop its share in the piped gas controller Fluxys to...
Belgium extradites former Congo leader
Belgian authorities have extradited Jean-Pierre Bemba Gombo former vice president of the Democratic Republic of Congo to face war crimes charges the International Criminal Court ICC in The Hague said.Bemba was detained in Belgium in May following his flight from...
Galapagos signs compound management agreement
Mechelen-based drug discovery company announced on June 30 that its service division BioFocus DPI will provide compound management and related services to Sepracor Inc. a leader in respiratory and central nervous system disorder medicines. Total contract value for Galapagos is...
Inergy Automotive Systems starts operations in China
Inergy Automotive Systems a fuel systems for the automotive
industry manufacturer has launched operations
at its new production unit of Wuhan in the Hubei
province of China. The facility has started delivering fuel
systems to production plants operated by Nissan and
BMW in China. Inergy...
Zetes wins contract to provide cards to Colruyt
Zetes a European supplier of solutions for the automatic identification of goods and persons was commissioned by Colruyt one of Belgium´s largest supermarket chains to produce and distribute 1.88 million new discount cards to Belgian Colruyt customers. Unique card- With...
Di Rupos first intention is a socio-economic accord
The umbrella steering group of party leaders chaired by Yves Leterme and Minister of Justice Jo Vandeurzen produced very poor results last evening on July 4 Flanders Today reported. The breakthrough would have had to be in the Brussel-Halle-Vilvoorde file...
KBC increases interest on savings from 1.75 to 4%
KBC has increased the basis interest on all savings accounts from 1.75 to 4 percent. Other major banks such as Fortis Dexia and ING are now under pressure to follow suit. Dexia and ING both offer already an online savings...
InBev courts US rival Anheuser-Busch
Belgian-Brazilian brewer
InBev says it had reaffirmed
its proposal to
combine with Missouri-headquartered
Anheuser-Busch
Cos. Inc. The offer was made in
a letter to August A. Busch IV
AB president and chief executive
for an unsolicited USD
46.3 billion bid. Bloomberg has
called the offer the largest cash
takeover...
A legion of tractors trucks and taxis descends on Brussels
On June 18 farmers taxi drivers and truckers
rallied in their vehicles at the Cinquantenaire
Park in Brussels from to protest
what they said was the governments inaction
with regards to helping different sectors
of the economy cope with the increasing
price of fuel and dwindling...
Delhaize Group joins the AMS buying alliance
Delhaize Group the Belgian international food retailer
announced on June 17 that on January 1 2009 it will leave the
buying alliance it joined in 2001 called European Marketing Distribution
EMD and become a member of AMS one of the
largest buying...
Growing fuel prices are fueling governments revenues
On the average 72 Euro one pays for 50 litres of diesel at the
petrol station the government takes 28.5 Euro via excise duty
and 21 percent VAT which is 7.5 Euro more than in the 2002-
2003 period. Government revenues off of...
Electrolux appoints new head for Major Appliances Europe
Electrolux Major Appliances Europe announced on June 12
that Enderson Guimaraes 48-year-old Brazilian currently senior
vice president product amp; brand within the company was
appointed new head of Major Appliances Europe and Executive
Vice President of AB Electrolux. As such he will report to...
Nyrstar Sims expand battery recycling enterprise scheme
Australian Refined Alloys ARA a 50/50 percent joint venture
of worlds largest producer of zinc metal and alloys Nyrstar NV
and the Australian metal recycling company Sims Group is planning
a major capacity expansion of its lead acid battery recycling
business Nyrstar announced on...
Electrabel supplies Germany with even more electricity
On June 9th 2008 E.ON granted Electrabels planned power
station in Wilhelmshaven access to the E.ON transmission network.
Erik von Scholz Electrabel Deutschland AGs Chief
Executive Officer and Martin Fuchs Chief Executive Officer of
E.ON Netz GmbH signed the access contract in the presence...
Reducing inflation to Eurozone level is now a priority
For 2008 the National
Bank of Belgium NBB
has predicted an average
growth rate of 1.6 percent
accompanied by an inflation
rate of 4.1 the highest rate since
1985. The acceleration in inflation
in Belgium has outpaced
inflation growth in the Eurozone
and to this effect raised
concerns...
Is the PMOI a terrorist group or democrats?
A Belgian Senate majority has
called on the government and
the EU Council of Ministers to
remove the Iranian opposition
Peoples Mojahedin Organization
of Iran PMOI/MEK
from the EU terrorist list the
Foreign Affairs Committee of
the National Council of Resistance
of Iran NCRI said.
Founded in 1981 in...
Addressing the global pilot shortage needed
CAE a Montreal-based company providing simulation and
modelling technologies for civil aviation and defence forces has
acquired the Brussels-based Sabena Flight Academy SFA
training centre to expand its own training capacities. This
strategic bolt-on acquisition is another step towards developing
our training network in...
International police force seizes narcotics from hundreds
A total of 856 people in Belgium were found to be in the possession
of narcotics during an international police anti-drugs
operation on June 7. Operation Etoile includes police from
France Luxembourg and the Netherlands as well as 700 Belgian
police and customs officials....
Producing steel products in China a growing idea
Ansteel Anshan Iron and Steel Group Corporation a Chinese
steel producer and Bekaert a Belgian global market specialist
in metal transformation advanced material and coatings will
invest a total of 150 million Euro in a 50/50 joint venture to build
a new steel cord...
Telenet and Belgacom TV purchase an issue
Belgian telecom group Telenet N.V. has won two court cases that
will prevent Belgacom S.A. from stopping its purchase of regional
cable companies analogue and digital television activities.
Telenet signed a deal with Flemish cable businesses Interelectra
Integan WVEMand PBE - collectively Interkabel...
Government adopts a five-year railroad plan
Belgian Rail SNCB/NMBS users are expected to increase by
2012. The federal government established a new management
agreement stating that trains must be more punctual and communication
improved local media reported last week. Passengers
that have delays of 15 minutes or longer will be...
A Belgian-American biotech bidding war for Innogenetics
The San Diego-based biotechnology company Gen-Probe which specialises in nucleic acid Tests has made a bid for the Belgian molecular diagnostics company from Ghent Innogenetics that is six percent higher than the bid made by the Belgian pharmacological company Solvay...
Jatropha-derived bio-fuel plant will start operating in 2009
Early next year Merksplas Belgium will welcome the worlds first combined heat and power CHP plant running on jatropha derived biofuel announced Thenergo the Belgian energy operator specialised in the decentralised generation of electricity and heat using biogas natural gas...
Consulate at Lubumbashi closed but relations continue
Bilateral cooperation agreements signed by the Democratic Republic of the Congo DRC and Belgium in 2002 are intended to foster an enhanced and privileged partnership between the two countries media reports said. Addressing reporters on June 2 Freddy Jacquet delegate...
Hydrogen station opened to supply only three cars
Total inaugurated a hydrogen fuel station on the E19 motor motorway in Ruisbroek June 3 but there will only be three customers. The station holds 17 000 litres of liquid hydrogen at a temperature of 253° C. This Total-BMW trial...
Important management shift within Brussels Airlines
After Brussels Airlines CEO and Managing Director Philippe Vander Putten withdrew from the daily management of the company due to diverging view points on top company roles the Board decided to appoint two Managing Directors in his stead. The Board...
Belgacom deals with Jupiler League for broadcasting rights
Two weeks after the professional soccer League had rejected the bid of 44.7 million Euro the first league football clubs agreed on awarding TV rights to the Belgian telecom operator Belgacom along with the public broadcasters VRT and RTBF for...
Telenet partners up with Videohouse
The Belgian broadband cable service Telenet decided to transfer all facilities and services for the production of PRIME and video on demand to its new partner Videohouse. Videohouse is the Belgian market leader of broadcast facilities to audio-visual media with...
Fluxys new service for grid users to optimise capacity
The gas infrastructure provider Fluxys has launched its third new Transit/Transport Synergy Service to optimise the use of existing grid capacity it announced on June 3. The Synergy Service will enable customers to convert transit capacity into transport capacity for...
Eni and Publigas negotiate Distrigas deal with Suez
The Italian multinational oil and gas company Eni has reportedly been locked in exclusive talks with the French energy group Suez discussing the purchase of 57.25 percent of the Belgian gas supplier Distrigas. Suez currently owns 57.25 percent of Distrigas....
When business gets complicated it gets complicated
Electricity producers Electrabel and SPELuminus have agreed to contribute 240 million and 10 million Euro to the Belgian Treasury even though some officials said confusion has surrounded the issue. Federal Energy Minister Paul Magnette PS stated that the contribution would...
Bekaert partners with Ansteel to capture demand for wire
Ansteel a leading steel producer in China and Bekaert a global leader in advanced metal transformation agreed on the terms of a close partnership between the two companies in Shenyan on May 24. Zhang Xiaogang Chairman and CEO of Anshan...
Bemba arrested for war crimes in Central African
Republic Belgian authorities arrested Jean-Pierre Bemba Gombo the 45- year-old Democratic Republic of Congo DRC national pursued by the International Criminal Court ICC for four counts of war crime and two counts of crime against humanity on May 24 in...
Mio Technology will open office in Belgium
On May 25 personal navigation device maker Mio Technology Belgium celebrated the official opening of the new Mio Technology building in Asse on the outskirts of Brussels in the presence of Patricia Ceysens Flemish Minister for Economy Entrepreneurship Science Innovation...
Consumer confidence falls further in May 2008
Consumer confidence indicator fell even further in May than it did in April. As in April the general economic and unemployment outlook in Belgium worsened substantially. Households found their opportunities to save were somewhat brighter after four months of marked...
Belgacom and Telenet fees are too costly
According to an international comparison of Internet tariffs across eight European countries conducted by the consumer organisation Test-Aankoop in collaboration with other consumer organisations Belgium providers Belgacom and Telenet have excessively high tariffs. The cheapest Internet package in the study...
Kinepolis compensates tattle tales in theatres
The cinema group Kinepolis and the Belgian Anti-piracy Federation BAF have decided to combat the illegal recording of movies played in the companys cinemas. Trailers shown to the public encourage individuals to report any illegal recording by sending an SMS....
De Gucht supports more FDI in Albania
A better inflow of foreign investments in Albania will foster skills technology and expertise that will spill over to Albanian enterprises said Minister of Foreign Affairs Karel De Gucht at the Crans Montana Forum in Tirana on European Affairs and...
New Europe News: The European News Source
New Europe News: The European News Source.
UBS to enter Dutch wealth market with VermogensGroep
Switzerlands largest bank UBS has signed an agreement with VermogensGroep an independent Dutch Wealth Manager to acquire VermogensGroep. This joining of forces will create one of the premier Wealth Management firms in the Netherlands. Closing of the transaction remains subject...
Indias GMR buys 50% stake in InterGen worth USD 1.1 bln
Indias infrastructure company GMR has inked the agreement for the acquisition of 50 percent in InterGen N.V. a Netherlands-based leading global power generation company. The transaction valued at USD 1.1 billion is the largest ever acquisition of an energy utility...
AEGON inks a deal with Ajax
Aegon and Dutch soccer club Ajax have launched their new partnership with the unveiling of a giant copy of Ajaxs red and white game shirt featuring for the first time the Aegon brand. As part of the sponsorship deal Ajax...
ING closes acquisition of CitiStreet
ING Group a global financial institution of Dutch origin has
received final regulatory approvals and completed its acquisition
of CitiStreet LLC one of the US premier retirement plan and
benefit service and administration organisations. ING
announced the transaction as part of its move to...
UN Netherlands face Srebrenica massacre suit
A group called the Mothers of Srebrenica wants the United
Nations to be tried for its failure to prevent the Srebrenica massacre
in 1995. On June 18 the group which represents 6 000 relatives
of the victims asked a civilian court in The...
Dutch central bank says growth wont grow now
According to Dutch Central Bank De Nederlandsche Bank -
DNB projection for the years 2008-09 growth is predicted to
decline from 2.4 percent this year to 1.5 percent the next. In
2010 when world economic growth is expected to pick up again
Dutch...
ING starts rollout of retail network in Ukraine
Amsterdam-based ING has announced it will open retail banking
operations in Ukraine with the formal opening of its first outlet in
Kiev. The retail banking activities will further support the sustainability
and growth potential of the existing operations of ING in
Ukraine. Announcing the...
Saudi Arabia joins global warming fight scheme
The Netherlands and Saudi Arabia organised a two-day international
conference in The Hague entitled CCS in a Low-carbon
Energy Future. The conference looked at ways of fighting climate
change by capturing and storing the greenhouse gas carbon dioxide
CO2. The Dutch-Saudi conference was...
Dutch PM plans overview of some Royal expenses
The Dutch government might shortly start working on plans to implement a new system to ensure that it is easy to get a clear picture of what is spent on the Dutch royal household media reports indicated last week. Dutch...
Royal Dutch Shell buys back its own shares
Royal Dutch Shell plc announced on May 27 that the company had completed the purchase for a cancellation of 193 000 A Shares at a price of 27.39 Euro per share. It further announced that on the same date it...
Ericsson expands Dutch management contract
Ericsson is now the new strategic partner of T-Mobile Netherlands following the recent signing of a four-year strategic-partnership contract aimed at continuation and expansion of the existing contracts T-Mobile statement revealed last week. The announcement followed T-Mobiles acquisition of Orange...
Dutch scientists claim 1st female DNA sequencing
A group of Dutch scientists recently claimed to have completed the first sequencing of an individual womans DNA. The researchers at Leiden University Medical Center reported the sequencing of the entire genome of one of their female researchers clinical geneticist...
Fortis Delta Lloyd take aim at ABN AMRO
Fortis ABN AMRO and Delta Lloyd have begun talks on ABN AMRO Verzekeringen AAV . Fortis wants to take over Delta Lloyds 51 percent stake in Netherlands ABN AMRO Verzekeringen. The acquisition of these shares would enable Fortis to further...
More collaboration planned with Latin American countries
Foreign Minister Maxime Verhagen has said that the Netherlands would like to work more closely at international level with the countries of Latin America. Verhagen was speaking in the Peruvian capital Lima at the start of summit talks between the...
TomTom gets Commission okay to buy Tele Atlas
The European Commission the executive arm of the European Union has given a go-ahead to Dutch company TomTom to buy digital map maker Tele Atlas another Dutch firm with clearance that the takeover would not harm competition in Europe. European...
ING getting American firm CitiStreet for 578 mln Euro
The global financial institution ING Group announced that it has reached an agreement to acquire CitiStreet LLC one of the premier retirement plan and benefit service and administration organisations in the US defined contribution marketplace. CitiStreet is jointly owned by...
Lebanese firm launches a new broadband platform
SES NEW SKIES an SES company announced that IDMI the international arm of IDM Lebanons leading ISP with more then 125 000 users has contracted 40 MHz on SES NEW SKIES NSS-7 satellite to introduce a new DVB S2 SCPC...
Dutch Russian premiers sign an agriculture deal
A cooperation program for 2008-2010 between The Netherlands and Russia has been signed. The Program aims to encourage the access of agricultural products and foods to each others markets as well as promote investments in agriculture and create joint ventures....
Radical mufti Sabri is not welcome to come
The former grand mufti of Jerusalem Ikrima Sabri is still not welcome in the Netherlands. Dutch Foreign Minister Maxime Verhagen has made clear via the Dutch consulate in Ramallah that if the mufti decides to come he will be detained...
A growing number want troops out of Afghanistan
More than 60 percent of the Dutch think their country should withdraw troops from Afghanistan if the Dutch death toll there hits 25. The findings published on April 21 came from an Internet survey of the Dutch MSN website in...
Four Soft wins freight contract with Colvan
Four Soft Netherlands BV a subsidiary of Four Soft Limited India a global leader in software solutions for transportation and logistics verticals said it had signed a contract with Colvan Netherlands BV for implementation of its freight forwarding software -...
TALIA launches satellite Internet network on NSS-703
SES NEW SKIES an SES company has announced that Talia Limited one of the largest suppliers of satellite Internet services for North Africa and the Middle East has contracted 10.9 MHz on SES NEW SKIES NSS-703 satellite to introduce a...
Montenegros European aspirations get a boost
The Netherlands respects Montenegros European aspirations. That was Foreign Minister Maxime Verhagens message during a meeting with the Deputy Prime Minister of Montenegro Gordana Djurovic which took place in The Hague. Although a number of reforms still need to be...
Nazi-stolen art in museum must be sold to its heirs
The heirs of Jewish art collector Ernst Flersheim are legally entitled to buy back a painting by Dutch painter Jan Toorop 1858-1928 confiscated from Flersheim in 1938 by the Nazis a Dutch art restitution committee has said. The committee which...
ING raises 1.5 billion Euro with perpetual bond sale
ING Group has announced that it raised 1.5 billion Euro from the sale of Euro-denominated perpetual subordinated bonds called ING Perpetuals IV. Due to strong investor demand the subscription period was closed a day early after just three days....
Orlen buys up 500 shares in Odin Energi Latvija
The Polish crude oil refining company Polski Koncern Naftowy Orlen said that its subsidiary in the Netherlands and Odin Energi in Denmark had signed an agreement relating to the sale of shares in a Latvian branch. Orlen will get 500...
Milking it for all its worth a merger
Two of the Netherlands biggest dairies Friesland Foods and Campina said they have reached an agreement to combine their operations in a bid to maximise returns from their milk supply. The merger comes at a time of difficult market conditions...
Vantis chosen by Dutch firm for UK presence
Real Enterprise Synergy RES Software has chosen AIM-listed accounting tax and business advisory firm Vantis to support the set up of its business operations in the UK. Through Vantis new Inbound Business Group launched at the end of last year...
Netherlands Brazil plan biofuel production cooperation
Brazilian President Luiz Inacio Lula da Silva on a tour focused on ethanol and other bio-fuels a sector in which Brazil is a global leader signed a cooperation agreement with Dutch Prime Minister Jan Peter Balkenende on April 11 that...
CTMM allocates 150 million Euro to research diseases
The Center for Translational Molecular Medicine CTMM a Dutch public-private partnership committed to the research and development of new techniques for the diagnosis and treatment of major diseases announced on April 1 that nine projects will receive research funding amounting...
Balkenende says having Poland made EU stronger
The accession of Poland in 2004 has made the European Union stronger according to the Dutch Prime Minister Jan Peter Balkenende. Poland has resumed its place within Europe. The prime minister expressed this message at a guest lecture in Warsaw...
Cooperation plan inked with Turkey
On March 26 Dutch Foreign Minister Maxime Verhagen and his Turkish counterpart Ali Babacan were due to sign a new cooperation agreement in Wassenaar near The Hague according to a Dutch Foreign Ministry spokesman. Verhagen said he was pleased with...
Plans to make some firms more attractive
Dutch Justice Minister Ernst Hirsch Ballin plans to make Dutch businesses more attractive internationally by legally regulating the option of a one-tier board system that combines both directors and supervisory directors according to the legislative proposal sent by the minister...
ING repurchases all its shares
The global financial institution of Dutch origin ING announced on March 25 that in line with the launch of its five billion Euro share buyback programme on June 4 2007 the company has repurchased 5 025 000 depositary receipts for...
Thousands rally against Islam critic
Several thousand people participated in a recent rally in Amsterdam against legislator and Islam-critic Geert Wilders. The rally an initiative of antiracism organisation Nederland Bekent Kleur Dutch acknowledge colour differences was to protest the intolerant and discriminatory viewpoints of the...
MoU inked with Frontex
Dutch Justice Minister Ernst Hirsch Ballin on March 13 signed a memorandum of understanding MoU relating to Dutch assistance to border management of EU external borders in accordance with agreements for such assistance. The agreement with the European border management...
Deutsche Telekom buys into OTE
A leading telecommunications and information technology service provider Deutsche Telekom announced on March 17 that it has entered into a purchase agreement with Marfin Investment Group MIG by which Deutsche Telekom will acquire all shares held by MIG in the...
Excessive pay deals discouraged
The Dutch government is to discourage excessive pay deals in the market sector with measures such as a levy on employers who agree exorbitant severance packages. This is the governments response to a report by the Monitoring Committee on the...
Pressure on China to stop violence
The Dutch Minister for European Affairs recently summoned the Chinese ambassador to the ministry to convey the Dutch governments serious concern at the recent events in Tibet. The Dutch government is extremely disturbed about the reports that many people have...
Support for VCAD with grant
Speaking in Hanoi Dutch Development Minister Bert Koenders has pledged to support the Vietnamese competition authority VCAD with a grant of 500 000 Euro spread over three years. The VCAD drafts and enforces legislation on competition and consumer protection and...
Terror threat is up
Although there are no clear indications of impending attacks in The Netherlands the increased international terrorist threat has raised the threat level for the country from limited to substantial. This is the conclusion drawn by the office of the National...
Dutch-American cooperation
The vice minister of the Dutch Ministry of Transport Public Works and Water Management signed a letter of intent to spend USD 1.5 million on research collection analysis and dissemination of information on crisis management through a group of Dutch-American...
Navy to help Somalia
The Dutch government will be deploying a frigate off the Somali coast to protect vessels carrying humanitarian goods from attacks by pirates. The proposal was put forward by the Dutch Foreign Minister Maxime Verhagen Defence Minister Eimert van Middelkoop and...
Schiphol links with China airport
Schiphol Group and Chinas Guangzhou Baiyun International Airport signed a contract for the development of commercial activities at the airport in Guangzhou. The contract was signed on March 11 by Frits Kuipers director of Consumers International and Cai Chaolin deputy...
Fewer asylum seekers arrive
The total influx of asylum seekers is at an all-time low with 9 800 applications for 2007. However in the second half of 2007 an increase was visible in the number of asylum applications coming from Iraq and Somalis. The...
JSF to be tested
From 2011 The Netherlands will take part in testing the Joint Strike Fighter marking a new step in the JSF programme the government recently announced in a letter to the House of Representatives. The decision accords with the coalition agreement....
Dutch firm banned by Nigeria over bad fuel
Nigeria has banned a Dutch firm for importing contaminated fuel which has damaged hundreds of vehicles in the past week; officials were reported saying on March 5. Nigerian official Tony Chukwueke said 33 000 metric tonnes of fuel ordered by...
Rabobank profits soar despite RMBS losses
Dutch bank Rabobank posted a 13.5 percent rise in 2007 net income on March 5 thanks to strong performance in Dutch retail banking and mortgage lending that offset losses on assetbacked investments. Utrecht-based Rabobank one of the largest retail banks...
The Netherlands recognises an independent Kosovo
The Netherlands recognised an independent Kosovo a spokesman for Dutch Foreign Minister Maxime Verhagen said on March 4 after the Dutch embassy in Pristina had informed the Kosovar government of the decision. Verhagen said the Dutch government decided to recognise...
ING Bank TNT Post to close 250 joint offices
Dutch financial services giant ING Groep NV and postal company TNT NV will close 250 joint post-bank offices over the next five years and cut 1 850 jobs the companies said on March 5. The closures involve their Postkantoren BV...
New Europe News: The European News Source
New Europe News: The European News Source.
The country with the highest GDP per inhabitant
According to the European Unions statistical office Eurostat the highest levels of GDP per inhabitant in the EU were registered in Luxembourg Ireland and the Netherlands. Eurostat data released on June 24 revealed that in terms of purchasing power parity...
China CIMCs 60% stake in Luxembourgs TGE Gas
China International Marine Containers Group Co. Ltd CIMC the worlds biggest shipping container maker has agreed to acquire a 60 percent stake in Luxembourgs TGE Gas Investment SA for 20 million Euro according to a statement filed with the Shenzhen...
ArcelorMittal acquires Virginian firm Mid Vol Coal
ArcelorMittal Luxembourg based integrated metals and mining company announced early last week that it has signed an agreement to acquire the Mid Vol Coal Group.Mid Vol located in southern West Virginia and southwestern Virginia in the Central Appalachian Coal Basin...
OECD economic survey rates Luxembourg high
Luxembourg has more reason to confirm its position in the EU as a tax haven based on the results of the 2008 Economic Survey of Luxembourg conducted by the Organisation for Economic Cooperation and Development OECD. The report published on...
Weak heart? Luxembourgs the place to be
The new Euro Consumer Heart Index demonstrated that effective prevention programmes deliver a clear return on investment as press release by the company confirmed on July 3. A Europe-wide gap is between guidelines for heart disease management and the realities...
Noesen heads Fortis Prime Fund Solutions
Prime Fund Solutions the
division of Fortis Merchant
Banking dedicated to servicing
the traditional and alternative
investment communities
has appointed Claude Noesen
as a director of its Luxembourg
sales and client relationship
team. According to Fortis
Noesen will play a key role in
developing servicing business
within the fast-growing...
ArcelorMittal growing again now in the US and Turkey
ArcelorMittal the worlds
largest and most global
steel company has signed
an agreement to acquire Bayou
Steel in the United States and
raised its stake in Turkeys
Erdemir.
Bayou Steel is a producer
of structural steel products with
facilities in LaPlace Louisiana
and Harriman Tennessee. The
deal worth USD 475...
Bull acquires CSB Consulting in EU growth scheme
Bull one of the leading European IT
companies has acquired CSB Consulting
the information technology IT services
company with a presence in Belgium and
Luxembourg. CSB Consulting specialises
in value-added IT services offerings
including consultancy infrastructure management
and project management.
Further reinforcing Bulls growth in
this market this...
Bombardier and Luxair sign a component pool agreement
LuxairGroup and Bombardier Aerospace
have signed a five-year agreement for the
Component Repair amp; Exchange program
of Smart Services for Luxair Luxembourg
Airlines fleet of Bombardier Q400 aircraft.
Luxair is a new Smart Services customer.
The signed component pool covers nearly
250 component part numbers and will...
ArcelorMittal buys Canadian metals recycler Bakermet
ArcelorMittal the worlds largest and most global steel company
on June 9 has signed an agreement to acquire Bakermet a
market leader in the scrap metal recycling industry in Eastern
Ontario Canada. Bakermet which specialises in all types of ferrous
and non-ferrous metal...
Luxembourg invests in biomedical research
The government will implement a strategic partnership initiative
with three US research institutions. The centerpiece is the creation
of a biobank to be founded by the University and the Public
Research Centres. As part of the initiative the government
will invest approximately 140 million...
ArcelorMittal and unions sign global agreement on standards
Luxembourg-based worlds largest steel company ArcelorMittal and trade unions representing its employees across the globe on June 3 signed a new and groundbreaking agreement to further improve health and standards throughout the company. The agreement the first of its kind...
India signs Double Tax Avoidance Agreement
The government of India has signed a Double Taxation Avoidance Agreement DTAA with the Luxembourg government on June 4 covering the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital....
Stock Exchange will help education on securities law
The Luxembourg Stock Exchange recently led a seminar at the University of Luxembourg the aim of which was to familiarise students with concrete aspects of listing securities on the markets operated by the Luxembourg Stock Exchange. The seminar was led...
Luxembourg parliament passes Lisbon Treaty
The Luxembourg government has validated the Lisbon Treaty a document which renovates and modernises the existing EU institutions and strengthens the democratic process. The Lisbon Treaty was signed by EU leaders on December 13 2007 and will come into force...
Agency set up to help financial sector
During the first quarter of 2008 a new promotional agency LuxembourgForFinance LFF has been launched for the financial sector to present a unified and clear picture of Luxembourg and its financial sector. LFF will coordinate the promotional efforts of the...
Capital duty to be abolished from January 1 2009
On May 22 2008 the Prime Minister Jean-Claude Juncker presented to Parliament the 2008 statement on Luxembourgs economic social and financial situation. The Prime Minister announced that several taxation points would be reformed to further enhance Luxembourgs competitiveness on corporate...
UAE signs Open Sky Policy with Luxembourg
The United Arab Emirates represented by the General Civil Aviation Authority GCAA has initialed open Sky Air Services Agreement ASA and a Memorandum of Understanding MoU with the Grand Duchy of Luxembourg early last week in Abu Dhabi. The agreement...
BNY Mellon Asset Servicing to Provide Fund Services to SICAV
BNY Mellon Asset Servicing the global leader in securities servicing has been appointed by WestLB Mellon Asset Management WMAM to provide a range of Luxembourg fund services to its Longitude SICAV. Following a thorough selection process involving four providers WMAM...
Switzerland Luxembourg see eye-to-eye on taxes
Switzerland supports the EUs aim of taxing capital yields commensurably. Federal Councillor Hans-Rudolf Merz once again stressed Switzerlands position that this goal can be achieved by means of a paying agent tax but not by means of an automatic exchange...
Were number 5 in the world! Survey shows
Luxembourg has placed fifth worldwide in the 2008 World Competitiveness Yearbook Survey announced by the famous IMD business school in Lausanne Switzerland. The United States topped the list followed by Singapore Hong Kong and Switzerland. Luxembourg the highest-ranked member of...
Ounce Labs and Telindus Belgacom sign a deal
Ounce Labs TM an industry leader in software risk analysis announced that it has signed a Global Alliance Partner program agreement with Telindus Belgacom ICT an international information and communication technology ICT integrator offering cross domain ICT solutions and services...
ArcelorMittal donates to victims of China earthquake
ArcelorMittal the Luxembourg-based worlds largest steel company said it is donating more than one million yuan 91 700 Euro to the Chinese Red Cross Foundation to help the relief efforts in China following the earthquake that struck Sichuan on May...
Luxembourg and Austria block EU tax haven clamp
With rising anger over Europes wealthy stuffing their money in tax hideaway countries that protect their anonymity even from authorities in their own countries Luxembourg and Austria have teamed to stop European Union attempts for more transparency.Luxembourg officials said they...
Shareholders approve a boost to ArcelorMittal equity
ArcelorMittal shareholders have okayed a 10 percent equity increase that would enable the worlds biggest steelmaker to continue its acquisition of lesser competitors. Lakshmi Mittal chief executive of the Luxembourg-based group said the authorisation till November 2012 to issue additional...
Its not easy being Green but Turmes pushes on
The European Unions goal of using bio-fuels to reduce carbon emissions should be scrapped said Claude Turmes a Member of the European Parliament from Luxembourg who said his Greens Party is leading an effort for a ban. In a report...
Stock Exchange welcomes Business Angels Network
The Luxembourg Business Angels Network LBAN held its eighth Investment Forum at the Luxembourg Stock Exchange. It is an association that aims to bring together startup companies seeking capital and expertise and private individuals wishing to explore and exploit new...
Logwin AG reports 3.1% increase in net sales so far
Logwin AG formerly Thiel Logistik had a sound start to 2008 and achieved net sales of 523.2 million Euro in the first quarter of 2008. This represents an increase of 3.1 percent compared with the previous year 507.5 million Euro....
RTL groups EBITA jumps a bit up 8.7% in Q1 2008
RTL Group a leading European entertainment network said it had a good start to the year as it reported EBITA was up 8.7 percent to 188 million Euro in the first quarter. This increase is mainly driven by the performance...
Russia has high-tech designs Putin wants EU deal
Russias outgoing president Vladimir Putin has asked Luxembourg Prime Minister Jean-Claude Juncker to help re-launch talks on a new cooperation agreement between Russia and the 27-nation bloc. Politically we very much rely on Luxembourgs friendly attitude to Russia for boosting...
BlackRock brings global absolute return fund to market
BlackRock has added a distributor share class to its Luxembourg-domiciled global absolute return fund.The USD 44.1 million BlackRock Global Capital Securities Absolute Return fund which is run by Owen Murfin seeks to achieve absolute returns through the investing in at...
Ernst Young launches new guide to Hedge Funds
A global leader in assurance tax transaction and advisory services Ernst amp; Young has published the first edition of Hedge Funds in Luxembourg A technical guide. The 130- page publication provides a comprehensive guide to the setting up and running...
Sofitel Luxembourg Le Grand Ducal is inaugurated
French Luxury Hotels brand Sofitel announced that the new Sofitel Luxembourg Le Grand Ducal has been inaugurated in a ceremony which took place on April 24. For Sofitel this event had symbolic value as Sofitel Luxembourg Le Grand Ducal represents...
Partners Group opens office in Luxembourg
Partners Group the Switzerland-based alternative asset manager has opened an office in Luxembourg. This additional location will further support Partners Groups client relationship activities in the region as well as the development of new Luxembourg-based product structures which are seeing...
Skype unveils new unlimited long-distance call subscription
Luxembourg-based provider of Internet phone service Skype on April 21 announced unlimited calling to over a third of the worlds population with the launch of its new calling subscriptions. The new subscriptions signal the first time Skype has offered a...
Palace Archa starts new Orco project in Prague
Orco Property Group the Luxembourg- based leading investor developer and asset manager in the Central European real estate and hospitality market recently announced that the company has received the occupancy permit for the first phase of its project in the...
The steel wall ArcelorMittal and BE Sverige link up
The European Commission has cleared under the EU Merger Regulation the proposed joint venture between Luxmebourg-based steel firm ArcelorMittal Steel Service Centres SAS AMSSC belonging to the ArcelorMittal group a leading global steel company based in Luxembourg and the Swedish...
CSR gives worlds first demonstration of ULP Bluetooth
The leading global provider of personal wireless technology CSR has given a successful demonstration at the Continua Health Alliance medical conference in Luxembourg. The demonstrations showed that CSRs ULP Bluetooth silicon consumes 10 times less power than standard Bluetooth when...
Panini and ILP III form an equity partnership
Panini an Italian-based global leader in payments innovation and distributed capture solutions has announced that ILP III a private equity fund specialising in high growth companies has agreed to a majority equity position in Panini SpA the parent company of...
SES AMERICOM declares AMC-14 satellite a total loss
Luxembourg-based SES S.A. has announced that SES AMERICOM its North American subsidiary has declared to insurers that its recently launched satellite AMC-14 was a total loss due to a lack of viable options to reposition the satellite to its proper...
Satellite lost Due to calculations
Luxembourg satellite operator SES S.A. announced on April 11 that its North American SES AMERICOM subsidiary has declared to insurers that its recently launched satellite AMC- 14 is now considered a total loss due to a lack of viable options...
Unions versus VB No-progress in talks
The leadership of the major Luxembourg trade unions LCGB and OGBL rejected a new wage proposal of the management of the Villeroy amp; Boch company on April 9. Therefore a new round of wage negotiations ended without a breakthrough. The...
Stable growth Steady inflation
The Statistical Institute of Luxembourg released its report on the state of economy in 2007. According to the report economic growth in Luxembourg should be near five percent in 2007 representing a relatively moderate slowdown compared with 2006. In line...
Thomson eXimius licensed wealth management platform
Compagnie de Banque Privee CBP a wealth management organisation last week announced the selection of Thomson Financials eXimius as its platform of choice for the roll-out of its front office wealth management services. Thomson Financial is an operating unit of...
Eurostat to remain in Grand Duchy
Eurostat Director-General Herve Carre dismissed on April 11 all the rumours about possible transfer of the statistics office of the European Commission media reported. Eurostat is currently staffed with 800 experts who monitor compare and aggregate national statistics of the...
ArcelorMittal buys into Gonvarri
Brasil Luxembourg-based worlds global steelmaker ArcelorMittal announced the acquisition of a 50 percent share of Gonvarri Brasil to form a Steel Service Centre joint venture. Gonvarri Brasil is one of the major players for servicing automotive industry and distribution customers....
Juncker to get doctorate from University of Pittsburgh
Jean-Claude Juncker prime minister of Luxembourg will present a distinguished lecture and receive an honorary doctoral degree from the University of Pittsburgh on April 10. For many years Juncker has strongly supported research collaboration involving Pitt faculty and scholars in...
Zap.lu becomes Web-leader
Following the latest trends of mergers and acquisitions in the internet industry Luxemburg based social networking website Zap.lu acquires Hot.lu to become the largest networking website in Luxemburg. Zap.lu was founded in 2007 by combining Zeus.lu Alex.lu and Party.lu. Since...
Cargolux flies trans-Atlantic Europes
Cargolux says it will begin weekly services to the Miami International Airport as of April 6 arriving early afternoon and continuing to Houston before returning to Cargoluxs home base in Luxembourg Aircargo Asia Pacific reported on April 3. A B747-400...
ArcelorMittal lends to Noble
Worlds largest steel firm ArcelorMittal on March 25 announced that it has provided worlds largest producer of laser-welded steel products Noble International Ltd. Noble with a USD 50 million convertible subordinated loan....
New Europe News: The European News Source
New Europe News: The European News Source.
Belgian with 13-year-old girlfriend jailed in Canada
A 32-year-old man who flew to Canada to meet his girlfriend has been given 20 months in jail for abducting and touching a minor.
Aiding Afghanistan too expensive for Belgium
Belgian finance ministry says the proposed extension of Belgian military activity in Afghanistan is too costly.
EU's French presidency condemns stonings in Iran
European Union’s French presidency calls for a halt to the planned stoning of eight women and one man sentenced to death for adultery.
Drunk truck driver spoils holiday fun in Belgium
A drunk driver crashed into a pillar on the Brussels–Ostend motorway and resulted in road closure and a 17-km traffic jam.
EU aims for US-style passenger data plan for flights in 2009
The US-style passenger data recording system requires passengers to submit personal information to authorities for security checks.
CSC Carlos Sastre retains Tour de France yellow jersey
While Spaniard cyclist remains in yellow, German Marcus Burghardt hands his Columbia team their fifth victory of the race.
Belgian cyclists can now take bikes on buses
Transport firm De Lijn launches a pilot project that will allow cyclists to take their bike on the bus.
Belgian Barco to lay off workers
The Belgian technology group Barco is embarking on a EUR 30 million-cost-cutting operation as profits fall by EUR 4.5 million.
Driver gets five years for causing 4 deaths
The Romanian driver was speeding when his car crashed into a vehicle and killed the company of four.
Belgian PM stays on
Prime Minister Yves Leterme will stay on to fight for constitutional reforms to transfer more powers to Dutch- and French-speaking regions in Belgium.
Expatica - belgian headlines
Dutch webcam Peeping Tom gets jail term
A Dutch court has sentenced a man who used computer virus to gain control of webcams to spy on young girls to two and a half years in jail.
Dutch market traders prosecuted in New York
Optiver Holding BV is being prosecuted in the United States for manipulating New York oil markets in March 2007.
Schiphol airport gears up for busiest day
Around 175,000 passengers are expected to pass through Schiphol Airport on Friday.
Amsterdam mayor to attend Gay Pride boat parade
Mayor of Amsterdam Job Cohen will be the first mayor to take part in the Gay Pride boat parade held on 2 August.
Dutch news in brief, Friday 25 July 2008
Find out what’s the latest news in the Netherlands in the roundup of today’s press from Radio Netherlands.
Many Dutch tourists denied entry to US
About 60 travellers are denied permission to board their flight to the US at Schiphol airport every week. | 