3.6 mln cigarettes were found in illegal tobacco factory in Netherlands

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.…

2 mins read

FDI in Georgia amounted USD 237.8 million in Q2 2020

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…

4 mins read

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

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…

6 mins read

European Commission approves €3.4 billion KLM bailout

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…

5 mins read