Possibility of resuming the Nord Stream I gas supply
The main gas connection for the EU, Nord Stream 1 (pictured), is now closed due to a planned 10-day maintenance, but reopens on Thursday, the news agency Reuters reports, citing anonymous sources. According to the news agency, the pipeline will supply less gas than its capacity of about 160 million cubic meters per day. Thus, Russia further shuts off the gas tap.
The news of the resumption comes as a surprise when the European Commission announced on Tuesday that it was preparing for the worst-case scenario: to close the gas tap completely. Nord Stream 1 accounts for more than a third of Russia’s natural gas exports to the EU. The market participants are therefore eagerly looking forward to what Russia does on Thursday.
2. IEA warns EU: code red for gas consumption
Europe needs to act quickly to reduce its gas consumption due to Russia’s policy of increasingly throttling supplies. The coming months will be ‘critical’, warns the International Energy Agency (IEA). The organization talks about ‘code red’ for Europe. To encourage companies to consume less gas, the Commission is proposing an auction system. In addition, companies can, based on their own needs, state for themselves how much gas they can save. They should then be able to receive compensation from the government.
DNB: Companies must keep their pants up during an energy crisis
The business community is only slightly affected by the high energy prices, calculations from De Nederlandsche Bank (DNB) show. He therefore strongly advises against state aid: the industry itself can absorb losses. In addition, financial support would delay the sustainability process. In the baseline scenario, where gas prices will rise by 61 percent compared to the end of 2021, the number of loss-making companies will rise from over 22 percent in 2020 to 25.5 percent.
In the darkest scenario, where gas prices rise by 180 percent, that percentage goes to 28 percent. Even then, the damage from the energy crisis is still incomparable with the damage from the credit crisis in 2009, the central bank notes. At the time, 35 percent of companies were loss-making.
4. Jeroen Dijsselbloem new mayor of Eindhoven
Jeroen Dijsselbloem becomes Eindhoven’s new mayor and succeeds the outgoing John Jorritsma. The former Minister of Finance, who is based in Eindhoven, will take office on 13 September for a period of six years. PvdA member Dijsselbloem was Minister of Finance in the Rutte II cabinet between 2012 and 2017. Before that, he was a member of parliament for twelve years, and at that time he was mainly concerned with security, immigration policy and urban policy. Between 2013 and 2018, he chaired the Eurogroup, the meeting of finance ministers from the seventeen eurozone countries.
5. More fraud and scams in business
The number of companies hampered by scams and fraud is on the rise: 51 percent of companies have had to deal with it over the past two years. 66 percent indicate that there is an increase in fraud. Cybercrime plays a role, but the vast majority of forms of fraud and deception take place in the traditional way. With number 1: own employees who embezzle money or products or make false statements. This emerges from a study conducted by the Allianz Trade Benelux. In case of fraud and fraud from the outside (external fraud), invoice fraud is a frontrunner. More than half (53 percent) of companies have to deal with this.
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6. Must read: Inflation also a problem for hospitals
The hospitals will receive an average of 5.8 per cent more purchasing costs this year, while according to current agreements with health insurance they will only be compensated for 1.83 per cent for price increases. As a result, there is a risk of a gap of almost 300 million euros this year, according to a calculation from Intrakoop, the procurement organization for the healthcare sector, and the Dutch Association of Hospitals (NVZ). The hospitals themselves have to cough up that amount. As a result, some are in danger of getting into financial difficulties this year.
7. And so this: New KLM CEO says sorry
The newly appointed new CEO of KLM apologizes in a detailed email to the airline’s customers on Tuesday. She does this in situations of delays, cancellations and loss of suitcases. “I think it’s important to give my sincere apologies to those of you who have been personally affected,” said Marjan Rintel, who took over from Pieter Elbers on 1 July. Before joining KLM, she was chairman of NS.
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