Category: Money

Opposition parties N-VA and Les Engagés fear an impact on jobs in Wallonia because the United Kingdom would have suspended a million-dollar order at Arms Factory FN Herstal. That decision would come after the greens within the government blocked an export license of nuclear maintenance material. According to Walloon Economy minister Willy Borsus (MR), however, that contract is still being negotiated. At the end of last week, the French-language news channel LN24 leaked that the government did not agree on the export of material produced in Flanders to the United…

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In order to further reduce its climate impact, Colruyt Group aims to make all its freight transport emissions-free by 2035. Both for its own transports to and from the stores and to the distribution centers via suppliers, the Belgian retailer wants to fully rely on zero emission vehicles. The company will achieve this through the use of complementary technologies: both battery-electric vehicles and hydrogen-electric vehicles will be needed to realize this transition. Thanks to the internal expertise of Virya Energy and DATS 24, and the many years of experience in…

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Europe and the United States are heading for a trade conflict. For example, the EU is concerned about the new US ‘Inflation Reduction Act’, a law that greatly benefits companies in the United States. President Joe Biden put his scribble under the law in August, since then “Buy American” has been the watchword. For example, under the Inflation Reduction Act (IRA), Americans will receive a subsidy of up to $ 7,500 from January 1, 2023, when they buy an electric car made in the USA that is equipped with a…

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A recession seems inevitable for the European economy, after the contraction in the third quarter. But that’s not necessarily bad news. Economists from the big banks point out that it would actually be good if more companies went bankrupt again and the large call for personnel on the labor market subsided slightly. According to the Central Bureau of Statistics (CBS), the economy shrank by 0.2 percent in the third quarter. “If there is such a small contraction again in the fourth quarter, we are technically already dealing with a recession,”…

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Sligro Food Group has made an offer for Metro stores in Belgium. This was reported by the company from Veghel on Tuesday afternoon. “In relation to the judicial reorganisation of Makro Cash & Carry Belgium NV/SA, we announced on 10 October last year that we see opportunities where Metro activities are concerned. At the time, we registered with the court as an interested party,” said Sligro, who investigated “whether and if so in what way and under what conditions we can combine Metro activities with those of Sligro Food Group.”…

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Sources have said that the European Central Bank is assessing whether they need to raise their key rate to 2% or higher to stem record-high inflation in Europe’s eurozone despite a possible recession. Inflation has risen to 9.1% in October, which is above the ECB’s 2% target for the next two years. The central bank has been increasing its interest rates at an unprecedented pace and urging governments and other government agencies to lower energy bills that have soared since Russia invaded Ukraine. The ECB increased its deposit rate to…

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In this own-initiative opinion approved during its October plenary, the European Economic and Social Committee (EESC) supports the European Central Bank (ECB) in its assessment of the risks and benefits of introducing a digital euro. The EESC believes the adoption of a digital euro will benefit everyone in the euro area by making payment transactions quicker and more efficient, but financial and digital inclusiveness will be crucial for its potential roll-out. The EESC will continue to follow the work of the ECB as it considers the design of a possible…

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Making payment arrangements or borrowing from family: people take advantage of everything to make ends meet. No less than 42 percent of the Dutch had one or more payment problems in the past year, according to research by budget adviser Nibud. “The Dutch are burdened by high fixed costs and rising expenses,” says Nibud director Arjan Vliegenthart. Three payment problems played the most in the past year, according to the Getting By and payment problems report that the Nibud presents on Saturday. It is then about no longer being able…

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The European Union, the euro zone and most of the member states will enter a recession during the last quarter of this year. That’s what the European Commission expects, it writes in its new economic growth outlook on Friday. Despite this, economic growth in the euro zone is expected to remain at 3.2 percent throughout 2022, before falling back to 0.3 percent in 2023. As far as Belgium is concerned, the Commission forecasts economic growth of 2.8% this year and 0.2% next year. Inflation would peak at 10.4 percent this…

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French energy group Engie has raised its 2022 revenue and profit targets after the company released its third quarter results on Thursday. Revenue for the first nine months of 2022 stood at €69.3 billion, which is almost double compared to what it generated during the first 9 months of 2021. This has been driven by higher energy prices and growth in most of its operations around the world, as well as expansion into renewable energies. With an EBITDA of €10.7 billion for the first three quarters of 2022, the company…

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