Fortis: the Amsterdam court has confirmed the payment of 1.3 billion euros

Fortis: the Amsterdam court has confirmed the payment of 1.3 billion euros

Almost ten years after the fall of Fortis, the aggrieved shareholders of the Belgian-Dutch insurance Bank will return part of their shares. The Amsterdam Court of Justice decided Friday to declare “binding’’ the payment project concluded between Ageas, Fortis legal successor, and some wronged shareholders’ associations. This payment, the most important of its type in Europe, forced Ageas, Fortis Holding’s legal successor, to place 1.3 billion euros on the table to compensate the shareholders and to close definitively this affair inherited from the Fortis dismantling in 2008. According to estimations,…

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SNKB and unions reached an agreement after a two-day strike

SNKB and unions reached an agreement after a two-day strike

Railway traffic is reported to have returned to normal after a two-day strike on Tuesday and Wednesday this week, with the additional promise of normal service will be resumed: the unions and the management of the SNCB/NMBS railway authority have reached an agreement that is likely to exclude further industrial action for the summer. The main element of the agreement involves an increase of 6% in purchasing-power payments for train drivers – a formula which allows the SNCB to treat it as a one-off allowance, rather than a change in…

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Ukrainian investor Igor Nikonov – today’s Ukraine is an emerging Klondike

Ukrainian investor Igor Nikonov – today’s Ukraine is an emerging Klondike

Igor Nikonov – is a large Ukrainian businessman, who has been successfully and transparently doing business in this country for over 15 years and knows how to convert risks into profits. Igor Nikonov believes that the current Ukraine – is the Klondike before the opening, and everyone who is ready to take risks and invest in the country now has a very good chance to build a successful high-margin business with a profitability of about 30-40%. Nikonov is convinced that a great perspective is in the sphere of import substitution,…

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Turnover of Deliveroo in Belgium increased by more than 200% in 2017

Turnover of Deliveroo in Belgium increased by more than 200% in 2017

Deliveroo reached a turnover of 8.9 million euros in Belgium in 2017, an increase of more than 200% compared to the previous year (2.6 million euros), according to the food delivery Service on Tuesday. The company said it planned to pursue its growth in Belgium and expand into new cities in the next 18 months, although it did not say which ones. With an operating profit of 988,000 euros last year, Deliveroo “is in the process of becoming profitable in Belgium,” the food platform stated. In 2017, its parent company…

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Trade war: what is it and which products are affected?

Trade war: what is it and which products are affected?

The trade war between the US and other major economies escalated on Friday after Washington and Beijing imposed punitive import tariffs on each other’s goods worth $ 34 billion. While economists say the consequences of a spat between the world’s two largest economies can be contained for now, there are fears that Donald Trump’s stance on trade could cause serious damage to the global economy. What is a tariff? Tariffs are border taxes charged on foreign imports. When a government or economic bloc (such as the EU) imposes a tariff…

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Ryanair employees for down tools: steward explains what the problem is with his Irish contract

Ryanair employees for down tools: steward explains what the problem is with his Irish contract

Pilots and flight attendants of the Ryanair low-cost airline went on strike in July on 3 different days. They are dissatisfied with working conditions. Pilots are going on strike on 12 July, while cabin crew in Belgium, Italy, Spain and Portugal will be downing tools on 25 and 26 July. Staff in the Netherlands and Germany are also considering industrial action. Staff are unhappy about working conditions, since they all have an Irish contract, regardless of the country where they actually work and live. Ryanair also engaged two subcontractors: those…

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The state Council suspends licenses to export weapons to Saudi Arabia

The state Council suspends licenses to export weapons to Saudi Arabia

The state Council suspended four export licences issued by the regional government of Wallonia for the sale of Fn Herstal weapons to Saudi Arabia. The Council of State is an independent judicial body whose job is to scrutinise all matters of governmental action, from communal to federal levels. The complaint was brought at the end of last year by the French-speaking Human Rights League and the pacifist organisation CNAPD. The Council found that the Walloon government had not carried out enough research into whether the arms in question would be…

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The railway Union issues a strike notice on July 12 and 14

The railway Union issues a strike notice on July 12 and 14

The Autonomous Union of train drivers ASTB issued a strike notice for a 48-hour strike beginning at 3 am on Thursday 12 July. This comes in addition to a strike notice issued by the Independent Rail Staff Union OVS for a 48-hour strike from 3am on 10 July. Both unions want to take strike action as they reject managements’ proposals on train drivers’ wages. Talks to resolve the dispute are scheduled for Tuesday. If they fail there will be disruption on the railways from 3am on Tuesday 10 July to…

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Immoweb is launching a website of real estate

Immoweb is launching a website of real estate

The company behind the Immoweb real estate website has launched a new website for exclusive real estate. The site is a Belgian version of ‘Belles Demeures’ a French site specialising in real estate at the top end of the market. The new Belgian version of Belles Demeures” already features 3,000 top of the range properties. The site only lists properties on sale for more than 1,000,000 euro or up for rent for more than 2,500 euro/month. In France Belles Demeures has been in existence for 30 years. The French site…

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The real estate market in Brussels is on the rise

The real estate market in Brussels is on the rise

After many years, when housing prices were stagnant and not affected by the financial crisis, the real estate market in Brussels is on the rise. While housing prices in Brussels still are among the lowest in Europe, they differ considerably by commune. This makes the decision where to buy in Brussels not easy. “Prices have increased steadily since 2015 as a result of bigger demand and low interest rates,” says Laurent Dans, Business Manager at KBC bank, to The Brussels Times. The median price for an apartment increased between 2016…

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