Category: Business

Gasunie has made the investment decision for the first part of the national hydrogen network. This national hydrogen network, which will cost approximately 1.5 billion euros, will connect, starting from 2030, the major industrial regions in Belgium, Germany and the Netherlands. The investment for the first part amounts to 100 million euros and will be developed by Gasunie’s subsidiary, Hynetwork Services. The work will commence after the summer in Rotterdam. The network will also have connections to import terminals in the seaports, domestic hydrogen production, and large-scale hydrogen storage facilities….

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The electric vehicles (EVs) from the American company Fisker will soon be available for purchase in Belgium. The vehicles can be ordered through Fisker’s website and will be delivered starting from the end of September, according to the manufacturer. Fisker currently offers the Fisker Ocean SUV as its sole model. The vehicle has been available for some time in the United States, Canada, and seven European countries. “Ultimately, we aim to sell our vehicles worldwide,” stated Henrik Fisker, the company’s chairman and CEO. Sales in the European countries will be…

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Budget airline Ryanair cancels 88 flights to and from the airport in the Belgian city of Charleroi on Monday and Tuesday due to a pilot strike. This information is reported by the Belgian airport, which is also frequented by many Dutch travelers. The canceled flights were scheduled for popular holiday destinations in Europe, such as Prague, Barcelona, and Lisbon. A total of 44 flights will be canceled on both days. Some flights to and from Charleroi will still operate. Ryanair states that it has offered affected travelers an alternative flight….

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Belgium is a European leader in recycling, one of the few nations to meet recycling targets set out by the EU. Other than household and commercial waste, Belgian recycling plants are now helping to reduce Europe’s dependence on foreign minerals. Rare earth metals, commonly used in the production of high-tech goods, are desperately needed for the European economy. China has a monopoly on the supply of these metals, producing up to 97% of the world’s supply. In July, China placed export restrictions on gallium and germanium metals, which are indispensable…

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Nearly 55% of Belgian agricultural businesses are led by individuals aged 55 and above, according to data from Statbel. At the same time, a staggering 88% of farmers older than 50 have no succession plan. The future prospects for young farmers are particularly uncertain today, as highlighted by the organization of young farmers, Groene Kring. “Many businesses will disappear within the next 15 years,” they state. In 2022, nearly a quarter of the 36,000 Belgian agricultural businesses were run by individuals aged 65 and above. Conversely, only slightly over 6%…

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Too expensive for Belgium: anonymous buyer sends ‘Belgian’ Leopard 1 tanks to the Ukrainian front. The first Belgian Leopard 1 tanks departed for Ukraine on Monday, as reported by ‘Business AM’. Remarkably, it’s not Belgium sending the tanks to the front, but another country. Belgian Leopard 1 tanks will soon be operational on the Ukrainian front, although Belgium is not responsible for their deployment. Another country purchased them from OIP Land Systems in Tournai, a company that acquired and restored the tanks. The first units are now en route to…

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According to a report by Brewbound on Thursday, Anheuser Busch, the US subsidiary of the AB InBev group, is planning to downsize its workforce by cutting several hundred jobs at its branches. The decision comes as a response to poor sales figures. The job cuts are expected to affect less than 2% of the company’s staff in North America, where it currently employs approximately 19,000 people, as mentioned on its website. The restructuring aims to simplify and reduce organizational layers within the company and will primarily impact administrative services and…

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Italian luxury-car manufacturer Ferrari announced on Wednesday that it has raised its financial targets for the year following an impressive second-quarter performance with double-digit revenue growth. The company reported a 33.5% increase in adjusted net profit, reaching €334 million, surpassing the €307 million projected by US financial data analysts Factset. Despite this outstanding financial performance, Ferrari experienced a slight dip in deliveries, down by 2%. In the April-June period, the renowned brand sold a total of 3,392 cars worldwide, according to a statement from the manufacturer. Ferrari’s CEO, Benedetto Vigna,…

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Estimates published at the Prognosfruit international congress in Trento, Italy, on Thursday reveal that Belgium has emerged as the largest producer of pears in the European Union. This year, a total of 412 million kilograms of pears are expected to be produced in Belgium, representing a significant 19% increase compared to the previous year. Meanwhile, Italy, which was previously the leading producer, is facing challenges with poor harvests. Interestingly, the Belgian statistics stand in contrast to European figures, which indicate a 13% decrease in pear production, amounting to 1.7 million…

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On Friday, French bank Crédit Agricole, which announced its record second-quarter results, revealed its plans to acquire a majority stake in the Belgian private investment bank Degroof Petercam through its private bank, Indosuez Wealth Management. The deal is valued at €1.55 billion. Upon completion, Crédit Agricole will have control over approximately 80% of Degroof Petercam’s capital, with the remaining stake held by the Cigrang family, an Antwerp-based ship-owning family. Degroof Petercam released a statement indicating that the acquisition is being carried out in partnership with the CLdN group, the reference…

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