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China to ease rules to attract more investors

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According to state media, Chinese Vice Premier He Lifeng assured global financial executives on Wednesday of the government’s commitment to simplifying the process for foreign institutions to invest in the country. The financial executives participating in the meeting are members of the international advisory committee of the Chinese securities regulator. Vice Premier He, who also serves as...

Deutsche Bahn comes to a halt

D

A strike by Deutsche Bahn staff has resulted in the suspension of all international trains to and from Germany. The strike commenced today and is set to last for three days. The primary reason for the planned strike is the deadlock in wage negotiations between the state-owned Deutsche Bahn and other railway companies. Since the initiation of wage discussions in early November, the GDL union has...

The largest Houthi attack averted: Centcom

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The U.S. and British Navy shot down drones and missiles that had fired the Houthis towards international shipping routes in the southern Red Sea. According to the British, it is the largest Houthi attack in the Red Sea since mid-November. Shapps says the UK and its allies have made it clear that such attacks are “completely unacceptable” and that the Houthis must face the consequences...

New rules to combat fraud on cross-border payments in the EU in force from 1 January

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New transparency rules came into force this 1 January that will help EU Member States to crack down on Value-Added Tax (VAT) fraud. The new rules will provide tax administration of the EU Member States with payment information allowing them to detect VAT fraud more easily, with a particular focus on e-commerce which is particularly prone to VAT non-compliance and fraud. This in turn creates holes...

The Netherlands dive deeper into recession

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The economic contraction in the third quarter has been revised to a more severe degree than initially reported, according to the latest calculations by the Central Bureau of Statistics (CBS) in the Netherlands. The figures for household consumption and corporate investments reveal an even bleaker picture, indicating a deeper recession than previously acknowledged. As per the updated data from...

Farmers Express Outrage as Government Slashes Subsidies for Green Measures

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Farmers are fuming over receiving reduced subsidies for green initiatives compared to what the government initially promised them, with some facing significant financial shortfalls. The frustration stems from the government’s repeated adjustments to the rules, leaving farmers feeling betrayed. Dairy farmer Eduard Willink from Marle in Overijssel voices his disappointment to NU.NL...

Dutch gambling market: 1.33 billion euro have changed hands in a year

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In the past year, Dutch individuals participating in online games of chance have collectively incurred losses amounting to 1.33 billion euros. This indicates that the legal online gambling market in the Netherlands is still expanding, albeit at a somewhat slower pace compared to previous periods. The Dutch Gaming Authority (KSA) determined this loss by comparing the total deposits made by all...

Uncertainty reigns as additional insulation efforts contradicts environment

U

The Homeowners’ Association is immediately ceasing its assistance with cavity wall insulation. The advocacy group considers it irresponsible to offer this service until the caretaker government provides “clarity on how to environmentally insulate cavity walls in the short term.” Members were able to hire a certified company at a discount through Eigen Huis. The reason for this...

New Dutch budget is a “balanced package” between bad and worst

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Next year’s budget is nearly finalized. The outgoing cabinet is allocating 2 billion euros to primarily support the lowest incomes. According to outgoing Finance Minister Sigrid Kaag, it constitutes a “balanced package.” This year’s budget focuses on the increasing poverty. Without additional measures, almost a million people would fall below the poverty line next year...

Declining exports cripple Hong Kong’s economy

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Hong Kong’s economy is suffering damage from a decline in exports. Official statistics showed a decrease in exports by 9.1% in July compared to last year. Bloomberg experts’ forecasts were for a decline of 8.8%. The decline has been going on for more than a year. Imports also decreased by 7.9% (the expectation was minus 5.9%). The trade deficit amounted to 3.8 billion US dollars. The...

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