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Jan 14, 2013

UPS to withdraw TNT Express bid after EC veto

AMSTERDAM, Jan 14 (Reuters) – United Parcel Service Inc
(UPS) said it will withdraw its 5.2 billion euro ($7
billion) bid for TNT Express because it expects the
European Commission (EC) to block the deal.

UPS, the world’s No. 1 package delivery company, was seeking
to buy Dutch peer and European market leader TNT Express to gain
access to its network in the fast-growing Asian and Latin
American markets.

Dec 27, 2012
via FaithWorld

Dutch Catholics “de-baptize” to protest Pope Benedict comments against gay marriage

Photo

(Pope Benedict XVI baptizes a baby during a mass in the Sistine Chapel at the Vatican January 10, 2010. REUTERS/Osservatore Romano )

Thousands of Dutch Catholics are researching how they can leave the church in protest at its opposition to gay marriage, according to the creator of a website aimed at helping them find the information.

Dec 19, 2012

Dutch deficit seen above EU’s 3 percent target next year

AMSTERDAM (Reuters) – The Netherlands will miss its 3.0 percent budget deficit target in 2013 as the economy contracts for the second year running, the cabinet’s economic forecaster CPB said on Wednesday.

Its projections follow close on the heels of an even gloomier outlook from the Dutch central bank and add to signs that the government will need to deliver more budget cuts if the country is to retain one of the euro zone’s few triple-A credit ratings.

Dec 17, 2012

KPN shares drop on dividend cut, costly licenses

AMSTERDAM (Reuters) – Shares in Dutch telecoms group KPN, now part of Mexican tycoon Carlos Slim’s empire, plunged as much as 15 percent after it cut its dividend for this year and next to meet the higher-than-expected cost of new mobile licenses.

A new player, Sweden’s Tele2, also won licenses in Friday’s Dutch auction of 4G wireless spectrum, a move likely to increase competition in one of Europe’s most lucrative telecoms markets as the winners roll out faster services that allow users to watch video and surf the Internet on the move.

Dec 14, 2012

Dutch 4G frequency auction raises more than expected

AMSTERDAM, Dec 14 (Reuters) – The Dutch state raised more
than expected in its auction of fourth generation (4G) wireless
licences, with market leader KPN saying it would have
to cut its dividend for this year and next to afford its
licence.

The auction raised a much higher-than-expected 3.8 billion
euros ($5 billion) and the result will lead to fierce
competition in one of Europe’s most lucrative mobile phone
markets.

Dec 14, 2012

AkzoNobel sells North America paints arm for $1.1 billion

AMSTERDAM (Reuters) – Dutch chemicals group AkzoNobel (AKZO.AS: Quote, Profile, Research, Stock Buzz) is selling its struggling North American decorative paints arm to U.S. rival PPG Industries (PPG.N: Quote, Profile, Research, Stock Buzz) for $1.1 billion to focus on its larger European and faster-growing businesses.

The sale is the latest move by the world’s biggest paints maker to address problems it inherited through its 8.1-billion-pound ($13.1 billion) acquisition of Britain’s Imperial Chemical Industries (ICI) in 2008.

Dec 14, 2012

AkzoNobel sells N.America paints arm for $1.1 bln

AMSTERDAM, Dec 14 (Reuters) – Dutch chemicals group
AkzoNobel is selling its struggling North American
decorative paints arm to U.S. rival PPG Industries for
$1.1 billion to focus on its larger European and faster-growing
businesses.

The sale is the latest move by the world’s biggest paints
maker to address problems it inherited through its
8.1-billion-pound ($13.1 billion) acquisition of Britain’s
Imperial Chemical Industries (ICI) in 2008.

Dec 12, 2012

Moody’s sees tough year for Dutch banks, keeps outlook negative

AMSTERDAM, Dec 12 (Reuters) – Dutch banks including ING
and SNS Reaal will face tough operating
conditions next year, with the prospect of higher loan losses
from property and increased funding costs, Moody’s Investors
Service warned on Wednesday.

Moody’s – which downgraded five Dutch banks in June and put
the Netherlands’ sovereign triple-A credit rating on negative
outlook in July – kept its negative outlook on the bank sector,
citing worsening economic conditions, high levels of household
debt and a reliance on market funding.

Dec 7, 2012

Dutch government will send Patriot missiles to Turkey

AMSTERDAM (Reuters) – Dutch Prime Minister Mark Rutte said on Friday the government has agreed to send two Patriot missile systems to reinforce Turkey’s air defenses and calm its fears of coming under missile attack, possibly with chemical weapons, from Syria.

As many as 360 personnel will accompany the surface-to-air batteries which can intercept ballistic missiles. It has not yet been decided where near Syria’s border they will be sited.

Dec 6, 2012

Dutch trawl North Sea for survivors after ship sinks

AMSTERDAM (Reuters) – The Dutch coastguard said on Thursday it was searching for seven missing crew members of a cargo ship which collided with another vessel and sank in the North Sea the previous evening, killing four people.

The Baltic Ace, a car carrier sailing under a Bahamas flag, collided with the Corvus J, a container ship from Cyprus, on Wednesday, 50 nautical miles from Rotterdam port in a major shipping lane.

    • About Sara

      "Sara Webb, bureau chief for Indonesia, has lived in Jakarta since 2007. She has worked as a journalist in Asia, Europe and the United States."
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