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Netherlands

3.6 mln cigarettes were found in illegal tobacco factory in Netherlands

2 mins read

The FINANCIAL — On 7 October, the investigation service of the Dutch tax authorities, FIOD (Fiscale Inlichtingen en OpsporingsDienst), raided an illegal tobacco factory in  West-Betuwe, south of Utrecht. It is one of the largest illegal cigarette factories uncovered in the Netherlands. The factory was in full operation when law enforcement entered the premises. Thirteen suspects were arrested comprising mostly of nationals from Eastern Europe. Investigators seized 3.6 million cigarettes and 32 000 kilos of tobacco along with packaging material, cigarette paper, filters and glue. The tax loss prevented to the Dutch state revenue for the illegal production is estimated…

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3.6 mln cigarettes were found in illegal tobacco factory in Netherlands

2 mins read

The FINANCIAL — On 7 October, the investigation service of the Dutch tax authorities, FIOD (Fiscale Inlichtingen en OpsporingsDienst), raided an illegal tobacco factory in  West-Betuwe, south of Utrecht. It is one of the largest illegal cigarette factories uncovered in the Netherlands. The factory was in full operation when law enforcement entered the premises. Thirteen…

EIB and Asper Investment Management support Dutch district heating projects

3 mins read

The FINANCIAL — The European Investment Bank (EIB) and Asper Investment Management Ltd. have signed an investment agreement worth €30 million for investments in four district heating projects in the Netherlands. This agreement will enable the EIB to consider additional investments into new district heating projects in the Netherlands up to €70 million. The EIB…

FDI in Georgia amounted USD 237.8 million in Q2 2020

4 mins read

The FINANCIAL — National Statistics Office of Georgia published data of Foreign Direct Investments Q2. Foreign direct investments (FDI) in Georgia amounted to USD 237.8 million in Q2 2020 (preliminary data), up 0.5 percent from the adjusted data of Q2 2019. The top three countries that invested the most in the second quarter of 2020 were United Kingdom,…

BA to cut up to 12 000 jobs while Lufthansa plans to axe 22 000

6 mins read

The FINANCIAL — British Airways plans to axe almost 30 per cent of the airline’s workforce. Airline says that the financial impact of Covid-19 is already greater than 9/11, SARS, the ash cloud and the financial crash of 2008/09 combined. Lufthansa also plans reduction of 22,000 full-time jobs as coronavirus pandemic led to an 80 percent drop in…

European Commission approves €3.4 billion KLM bailout

5 mins read

The FINANCIAL — The European Commission has approved, under EU State aid rules, a €3.4 billion Dutch aid measure consisting of a State guarantee on loans and a subordinated State loan to KLM. As a result of the imposition of travel restrictions introduced by the Netherlands and by many destination countries to limit the spread of…

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atrice-Edouard Ngaïssona transferred to ICC for alleged crimes against humanity and war crimes​

2 mins read

The FINANCIAL -- Patrice-Edouard Ngaïssona was transferred to the International Criminal Court ("ICC" or "Court") in The Hague, The Netherlands, by the authorities of the French Republic pursuant to an ICC arrest warrant for crimes against humanity and war crimes allegedly committed in the Central African Republic ("CAR"). This transfer followed the completion of necessary…