Panama Papers: has Belgium helped rich Russians evade taxes?

Panama Papers: has Belgium helped rich Russians evade taxes?

The banking group ING Belgium may have helped rich Russians to avoid taxes, dexterity and report de Tijd after consultation leaked documents. “We have questions about the technical constructions concerning off shore companies”. ING Belgium allegedly cooperated with an office in Geneva. This was to set up constructions with offshore companies in Panama and the Virgin Islands, Lars Bové of De Tijd explains. “This also happened quite recently. Behind the companies were rich Russians. We have questions about this, because banks should be very careful in the fight against money-laundering….

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Unemployment will continue to fall despite a slowdown in economic growth

Unemployment will continue to fall despite a slowdown in economic growth

The Federal Bureau of planning has published its forecasts for the Belgian economy for the next 5 years. Although economic growth will slow, the number of jobs will grow. Growth will remain stable at 1.6% until 2020. This is largely thanks increased domestic demand. Belgians’ disposable income is increasing thanks to the tax shift. This is reflected in increased consumption and more new jobs being created. The increase in disposable income will tail off between 2020 and 2023 and the balance of trade will be negative. This will be reflected…

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The owners of the shopping center Woluwe want to be listed on the Brussels stock exchange

The owners of the shopping center Woluwe want to be listed on the Brussels stock exchange

Eurocommercial Properties, which owns the Woluwe shopping center, has applied for a quote on the Brussels stock exchange, the Dutch holding company said on Tuesday. Eurocommercial Properties has been quoted on the Amsterdam Stock Exchange since 1991. It expects to be quoted on a second stock exchange, that of Brussels, from the 27th of June. The aim is to have a bit more visibility on the Belgian market to attract Belgian investors to our company, Financial Director Evert van Garderen explained.

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Flemish public transport riot week

Flemish public transport riot week

This is the probability of a violation of the services provided by the Flemish public transport company De Lijn next week. The socialist and liberal trade unions have called meetings to inform their members about the collective labour agreement that has been agreed to by the De Lijn’s management and the Christian trade union ACV. The meetings will be held during working hours and on different days in each of the 5 Flemish provinces. A few weeks ago the Christian trades union and management reached agreement on the reorganisation of…

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Excellent reception for the proposed fourth mobile operator

Excellent reception for the proposed fourth mobile operator

Industry representatives have given a cool reception to a proposal by federal minister Alexander De Croo, responsible for telecommunications, to open up space in the mobile landscape for a fourth major operator in order to stimulate competition. According to De Croo, Belgians pay too much for their mobile phone services, especially considering that services are less than in neighbouring countries. The licences for new mobiles services are open to tender next year, while existing licences for the Big Three – Telenet, Proximus and Base – expire in 2021. In addition,…

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ArcelorMittal will invests 150 million euros in Ghent to transform CO2

ArcelorMittal will invests 150 million euros in Ghent to transform CO2

The steel giant ArcelorMittal began the construction in its Ghent factory of new equipment that transforms high furnace CO2 emissions into bioethanol. This project, achieved in collaboration with the LanzaTech company, is the first of its type in Europe, and necessitates a 150-million-euro investment, ArcelorMittal indicated on Monday morning. LanzaTech technology uses microbes that absorb carbon monoxide to produce bioethanol. This bioethanol can then be used as fuel for transport or in the production of plastic. With time, the system will produce 80 million liters of bioethanol annually. The production…

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Worker found Belgian treasures in an abandoned house

Worker found Belgian treasures in an abandoned house

Workers destroying an empty house in the West of France were surprised with their lives when they discovered a treasure of Belgian gold coins of the 1870s. The 600 gold coins displaying the head of King Leopold II had been hidden in a lead shell case. Their worth today is estimated at 100,000 euros. It was in Pont-Aven in Brittany that the labourers found the treasure trove. First they encountered the shell case. Upon shaking it they noticed there was still something inside. When they opened the case they found…

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The level of corruption in Belgium doubled in six years

The level of corruption in Belgium doubled in six years

One Belgian executive out of five has been confronted with fraudulent practice during the last two years, reports a survey conducted by the EY consultancy agency of which L’Echo published the conclusions Thursday. Out of the 55 analyzed countries, only Ukraine (36%) and Kenya (26%) did worse than Belgium. With this 20% ratio, Belgium stands far above the 11% average. Corruption is thus twice as high in Belgium as in Western Europe (10%). So, within six years, the general level of corruption in Belgium has doubled. The survey also reveals…

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Lufthansa CEO: “Brussels Airlines is too small to succeed alone”

Lufthansa CEO: “Brussels Airlines is too small to succeed alone”

In an interview with VRT News, the CEO of Lufthansa has spoken about the German Airline’s plans for its Belgian daughter Brussels Airlines. Carsten Spohr also condemned the strike action taken by Brussels Airlines’ pilots last month. “I’m telling you if Brussels Airlines doesn’t achieve better results they can’t expect any gifts from us”. Last month some 60,000 passengers had their travel arrangements disrupted when pilots at Brussels Airlines held two one-day strikes. Since the strike negotiations have resumed and their focus has switched to improving the pilots’ work-life balance….

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The national Bank issues a warning about a cheap mortgage

The national Bank issues a warning about a cheap mortgage

The head of the national Bank of Belgium Jan Smets said that Belgian banks should be aware of the risks associated with the issuance of mortgage loans with very low interest rates. Without wishing to overestimate the situation, Mr. Smet said that it made banks vulnerable. Banks know that customers that take out mortgages are very loyal. Consequently, they try and lure potential customers with low mortgage interest rates. However, the Governor of the National Bank warns that “I think that we have a healthy real estate market, but there…

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