Real estate fund Atrium is struggling with stricter rules in Poland and Russia to curb the spread of the new corona virus, which means that shops must keep their doors closed. In Poland, Atrium is obliged to cut rents, while in Russia the store closings will take longer. The Polish government has adopted legislation that allows companies to temporarily impose lower rents on retail units in...
Heineken has invested millions in its Brazilian beer factory. The brewer puts out 865 million real, equivalent to 161 million euros, in the course of this and the coming year. The factory named Ponta Grossa is the third largest factory in Parana. According to experts, Brazil is an even more important market for Heineken’s turnover than Europe or the United States. The investment of Heineken...
ING is considering selling its Turkish activities. The Bloomberg news agency reports it based on the insider information. The bank is said to have had exploratory talks with advisors about the divestment of its Turkish part. The bank also approached a Turkish counterpart at the end of last year to gauge the interest in a takeover. Sources emphasize to Bloomberg that no final decisions have yet...
The aviation sector is hit hard by the problems surrounding the new corona virus. Earlier Air France-KLM came with a profit warning for the current quarter, now also easyJet and British Airways mother IAG, and Finnair warn against negative consequences. The British low coster easyJet, one of the largest users of Schiphol, is struggling with a declining demand for air travel to northern Italy...
The United States increases the import levy on European-made aircraft. The new 15 percent rate will start on March 18, reports the US trade representation USTR. An import tax of 10 percent still applies. The import tariff is part of the retaliation measures taken by the US due to illegal European subsidies for aircraft manufacturer Airbus. The World Trade Organization (WTO) stipulated last year...
Inflation in Germany rose in January to 1.7 percent on an annual basis, from 1.5 percent in December. The German Federal Statistical Office reported this on the basis of a definitive figure. This brought inflation to the highest level in nine months. On a monthly basis, German consumer prices fell by 0.6 percent, against a plus of 0.5 percent a month earlier. On the basis of the European...
AkzoNobel paint manufacturer intends to grow faster than the market every year between 2021 and 2023. The company announced this during an investor day. According to the plans, growth is at least equal to the market average. The return on sales must increase by 0.5 percent annually in the same period. CEO Thierry Vanlancker expects to achieve a return of between 14.5 and 15.5 percent for this...
KLM will not be flying to China until 15 March due to the new corona virus. The airline has announced that it will not fly to Beijing and Shanghai until 15 March. Due to the virus’s outbreak, KLM had temporarily suspended flights to China since early February. From 16 March, KLM will again fly to Beijing and Shanghai, so that there is a daily KLM connection between Amsterdam and the country...
The service sector in China showed less strong growth in January than in December. Market researchers Caixin and Markit announced this. The purchasing managers’ index for the services sector recorded a level of 51.8 against 52.5 a month earlier. A level of 50 or less indicates shrinkage. Economists generally counted on a score of 52.0. According to the researchers, the composite index...
The activity in the large Chinese industry grew slightly less in January. This is according to figures from research agencies Markit and Caixin. The data do not yet include the impact of the outbreak of the new corona virus in the country. The purchasing managers’ index was 51.1 last month, compared to 51.5 a month earlier. A position of 50 or more indicates growth, below which shrinkage...