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Sales grew, but mainly due to the high prices

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Due to the high prices, sales in Dutch stores increased by almost 2 percent in August compared to a year earlier, statistics agency CBS reports. That sales rose due to high inflation, is clear. Sales were down 6 percent in August, but retail sales were still up. Especially at supermarkets and other grocery stores, more sales were made, although people also went to the checkout with a lighter...

European plants halt production due to high energy prices

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Damco Aluminium in the Groningen Farmsum (near Delfzijl) immediately stops production due to the high energy costs. According to the company’s management, temporary shutdown is the only option “due to the sky-high energy prices and a lack of government support”. The decision has major consequences for the approximately 200 employees. The factory has been put into care and...

Cooling US inflation puts Asia’s stock markets on the green shore

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The fact that inflation in the United States seems to be above its peak also ensures profits on the stock exchanges in Asia. In Hong Kong, Shanghai, Seoul and Sydney, among others, the gauges were on profit. In the markets, it is taken into account that the US Federal Reserve is becoming more reluctant to raise interest rates now that monetary devaluation seems to be decreasing. In the meantime...

Highest inflation since 1996 recorded is driven by gas and food prices

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Inflation in the Netherlands reached 8.6 percent last month. This is slightly lower than in May, but still very high, Statistics Netherlands (CBS) reports. Food, in particular, became much more expensive. Food was significantly more expensive last month: an average of 11.2 percent, compared to a year earlier. This was mainly due to the increased prices of dairy and meat, but also grain products...

EU takes action against unregulated crypto markets

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The crypto sector will have to deal with European legislation that must limit the excesses around crypto coins. For the first time, all work around cryptocurrency will be tied to rules. The EU member states and the European Parliament reached an agreement on this on Thursday evening. “The new rules will better protect EU citizens who have invested in this currency and prevent abuse, but...

German economy is faltering

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The consequences of the war in Ukraine are slowing economic growth in Germany, the German central bank predicts. The Bundesbank also expects significantly higher inflation, mainly due to higher prices for food and fuel. This will result in a significant drop in the purchasing power and confidence of German citizens. The German central bank sees prices rise by 7.1 percent this year, well above the...

Oktoberfest-inflation is expected at no less than 15 percent

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Beer at the famous Oktoberfest in Munich will be 15 percent more expensive next fall than during the 2019 edition. A liter can then cost almost 14 euros. Water is also not cheap. The price of it can reach almost a dozen per liter. The costs for pub bosses are much higher than the last time the beer festival could go on due to increased energy prices, wages and overall inflation. They have to...

Passenger flow is still well below the pre-COVID era

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More than ten million people travelled to and from the most important airports of Netherlands in the first quarter. This means that the number of travelers is still below the level before the corona crisis. In the first three months of 2019, more than seventeen million people travelled via the airports Schiphol, Rotterdam The Hague Airport, Eindhoven Airport, Maastricht Aachen Airport and...

EU sanctions against Russia are fragmented, contain a lot of exceptions

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The EU countries are expected to continue negotiations on a sixth package of sanctions for Russia on Friday. They have sent the European Commission back to the draft table to amend a number of proposals. According to EU sources, many countries criticize, and not only the proposed total boycott of crude oil within six months and of refined oil before the end of the year. The Commission has offered...

Moroccan food exports to UK rise nearly 40% after Brexit

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Moroccan food exports to the UK have increased by roughly 40% since January 2021, of which more than 80% are tomatoes and citrus. Chris Woodward, British consul general and director of the Department for International Trade in Morocco, stated that the United Kingdom currently imports 25% of its tomato needs from Morocco. According to Woodward, fruit and vegetables topped Moroccan exports to the...

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