Category: Money

US has been warned about the creation in China of a network of enterprises for the production of microchips associated with Huawei, banned in some countries. The Washington-based NGO Semiconductor Industry Association, which specializes in supporting the U.S. semiconductor industry, has released a presentation. It says about the creation of a network of “secret” factories under the control of Huawei. Two factories have been bought and three are under construction. The project is supported by the Communist Party ― about $30 billion of state funding has been allocated since last…

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Insurer Aegon has once again incurred losses in the first half of this year. The net loss amounted to 199 million euros, the company reported on Thursday. Previously announced investments in American activities, according to Aegon, were responsible for the negative financial results. Throughout the previous year, Aegon also incurred significant losses, ending up about 2.5 billion euros in the red. In the first half of the previous year, the company did achieve a positive net result, amounting to 46 million euros. Aegon has already sold its Dutch insurance activities…

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The special system of economic unemployment for the vegetable sector is extended in Belgium for the period from July 1, 2023, to June 30, 2024, as reported by Fevia. “During the meeting of PC 118 on May 3, 2023, the social partners approved the request for an extension of the special system of economic unemployment for the vegetable sector. This extends the system for the period from July 1, 2023, to June 30, 2024. The royal decree was published in the Belgian Official Gazette on 08/09/2023.” “There are no changes…

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Climate-neutral and sustainable business and living have become the “magic words” of this millennium. Companies are competing to make announcements like “Our office is completely climate-neutral” or “Our products are produced emission-free.” Mobile networks consist of a collection of (thousands of) cell towers, multiple data centers, and personnel working both in offices and on the go (especially technicians and installers). All of these activities and technologies consume a lot of energy. Achieving a climate-neutral mobile network is thus a challenge that Dutch providers are working hard to address. Now, Belgian…

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A ‘fight by celebration’, that’s the Antwerp Pride, according to the organizers. A political struggle in the form of a party, or a party to fight for. Antwerp is once again filled with ‘rainbow’ this week, with a parade of no less than forty trucks through the city center, with subsidies from the city government and Tourism Flanders. The unreserved enthusiasm of domestic politics – even the Flemish Interest party is more or less subdued – differs significantly from the panic at AB InBev. Last week, it was revealed that…

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The International Monetary Fund (IMF) has justified its recommendation that the European Central Bank (ECB) maintain its tight monetary policy, even though its recent study concluded that Europe’s current inflation crisis is mainly caused by soaring corporate profits rather than rising wages. Among the various methods to control inflation, the IMF considers high interest rates preferable to other measures like imposing stricter limits on corporations. Meera Louis, a spokesperson for the fund, explained to The Brussels Times that high ECB interest rates would counteract inflation resulting from wage increases in…

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Air Belgium, based in Mont-Saint-Guibert, Walloon Brabant, reported a loss of over €44 million at the end of 2022. Despite this, the airline anticipates a return to profitability in the third quarter of this year, according to their statement on Monday. The company experienced a significant increase in sales, up by 74% compared to 2021, resulting in a turnover of €228 million last year, compared to €131 million the previous year. This growth is attributed to the simultaneous increase in passenger transport (+39.9%), which was heavily affected in 2021 due…

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On Wednesday, Colruyt announced the successful completion of the sale of its subsidiary, Parkwind, which specializes in offshore wind power, to the Japanese company JERA. The transaction was valued at €1.6 billion, and Colruyt anticipates a one-off positive impact of €650 million to €700 million on its consolidated net profit, as stated in their official statement. The decision to sell Parkwind was initially announced in March, and after obtaining approval from the competition authorities, the transaction has now been finalized. The specific allocation of the proceeds from the sale has…

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Despite facing criticism from the Federal Government and citizens, banks in Belgium continue to reduce the number of cash points (ATMs) nationwide. The country is at the forefront of the digital payments revolution and is making significant strides towards becoming a cashless society. This shift has contributed to a decline in the demand for cash points, as more people opt for card-based transactions over cash payments. Belgium stands out in Europe as the country with the most complaints about the scarcity of ATMs. The disappearance of cash machines has become…

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Colruyt has completed the sale of its Parkwind subsidiary, which specialises in off-shore wind power, to Japanese company JERA, the Belgian group announced on Wednesday. The transaction is worth €1.6 billion, which should have a one-off positive effect of €650 million to €700 million on the Colruyt group’s consolidated net profit, it said in a statement. The sale of Parkwind had been announced last March. Since then, the competition authorities have given the go-ahead, allowing the transaction to be completed. It is not yet known what exactly Colruyt will do…

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