Comparing the prices of seventeen energy suppliers, Vastelastenbond announced that the difference between the cheapest and most expensive contract is up to 1500 euros.
In the past period, especially due to the war between Russia and Ukraine, energy prices in international markets have started to rise. This situation was reflected in the amount of bills paid by the consumer.
According to a comparison of the variable gas tariffs of seventeen energy suppliers by Vastelastenbond , the Netherlands ‘s first consumer collective , established in 2004, the difference between the cheapest and most expensive contract on an annual basis is up to 1500 euros.
According to the research, while households pay 2.12 euros for a cubic meter of gas in BudgetEnergie, this amount reaches about 3 euros in Essent. The difference is about 46 percent. The same goes for Energiedirect.nl, Delta and Oxxio. The amount of invoices paid to these companies are also 45, 42 and 32 percent more expensive, respectively.
Vastelastenbond states that there is a difference of 88 Euro cents per cubic meter between the cheapest and the most expensive bill, and emphasizes that the difference can reach up to approximately 1,500 Euros per year when calculated on the basis of 1,600 cubic meters of gas consumption.
is not to change companies Vastelastenbond director Dirk-Jan Wolfert stated that the trend in the energy market is “not changing companies”, and stated that this is mostly due to energy contracts signed annually.
“Energy suppliers say it is pointless to switch companies because there are no other offers to offer to their customers,” Wolfert said. But it certainly makes sense to replace it with floating rate contracts as well. For example, Essent customers pay 3 euros per cubic meter of gas in April, while BudgetEnergie customers pay 2.12 euros for the same amount at the same time.” said.
“Most energy suppliers buy their gas from the same source,” Wolfert said. It is therefore unprecedented that rates are so different for the same contracts.” He also emphasized that this issue should be investigated.
Vastelastenbond also advised consumers whose energy contracts are ending to thoroughly investigate the variable rates of various providers.
Photo: Kwon Junho – Unsplash
Inflation in the Netherlands was 11.2% in November
According to calculations made according to the European measurement method, inflation in the Netherlands was 11.2 percent in November. While this rate is still very high, it is significantly lower than in recent months, Statistics Netherlands (CBS) reported.
11.2 percent means a 5.6 percentage point decrease compared to inflation in October. “This is mainly because energy prices have fallen,” said CBS chief economist Peter Hein van Mulligen.
In October, energy prices were 100 percent more expensive than a year ago, while in November this rate was about 40 percent.
This means that energy prices, which rose sharply in the same months of the previous year, also entered a downward trend. The fall in fuel prices is one of the reasons for this reduction in energy costs.
It is unclear whether the decline will continue
However, excluding energy prices, inflation is still high. According to Van Mulligen, “the increase in food, alcohol and tobacco prices is 12.5 percent, just above the overall inflation rate”.
It’s too early to say that these rates are permanent, according to the CBS chief economist. Despite lower energy costs, prices in other sectors are still rising.
House prices are falling in the Netherlands
The Office for National Statistics (CBS) said on Tuesday that the Dutch housing market continued to decline, shrinking for the third month in a row. CBS said the fall from September to October was 0.5%, with the average price of a house currently €428,000.
Annual housing prices also increased by 7.8%, which is one-third of the increase recorded in January. According to experts, the housing market is under pressure from rising loan interest rates. A year ago, a buyer could take out a 10-year fixed loan at around 1% interest, but that rate has now risen to 4.5%, according to mortgage advisors.
The records of the land registry office also confirm this data. The agency said it recorded nearly 15,000 transactions last month, down 8% from a year ago. In the first 10 months of the year, transactions decreased by 17% compared to the same period of 2021. The Real Estate Agencies Organization (NVM) also said that the number of houses sold in October decreased by 5.8% compared to April and June.
These figures are concrete indications that the Dutch real estate market has started to decline after months of strong growth. CBS statistics record purchases whose sales are reported to the land registry, while NVM figures reflect the number of homes sold by accredited agents.
German companies pass a third of the cost to the customer
The German Economic Research Institute reported that companies in Germany do not fully reflect their increased costs to their customers due to the high energy and raw material prices.
Accordingly, German companies have passed on only 34 percent of their increased production and purchase costs in the last few months to their customers.
The German Economic Research Institute (Ifo) has published the results of the ‘Germany Business Survey’ for the price increases of companies. Accordingly, German companies have passed on only 34 percent of their increased production and purchase costs in the last few months to their customers. Weak demand, high competitive pressure and long-term contract conditions prevented companies from raising prices.
According to the survey of 6,550 companies, German companies plan to transfer 50 percent of the increased costs to their customers until April 2023.
It will increase to 50 percent next year.
“This will likely lead to further inflationary pressure on consumer prices in the coming months,” Ifo researcher Manuel Menkhoff said in his assessment of the subject.
While industrial companies plan to pass on higher purchasing costs for energy and raw materials to their customers with 68 percent, this rate was 66 percent in the construction sector, 53 percent in the retail sector and only 36 percent in the service sector.
Elon Musk lost $170 billion in a year
The wealth of Elon Musk, the richest person in the world, has decreased by $ 170 billion in the last year, and by $ 101 billion since the beginning of the year.
The wealth of the world’s richest person, Elon Musk, has fallen by more than $100 billion since the beginning of the year.
Tesla, SpaceX and Twitter CEO Musk’s fortunes melted with the sharp losses in the stock markets.
The wealth of 51-year-old Musk, which peaked at $ 340 billion in November last year, fell to $ 170 billion with a loss of $ 8.6 billion yesterday.
Thus, Elon Musk’s wealth has decreased by $ 170 billion in the last year, and by $ 101 billion since the beginning of the year.
Despite this decline, Musk remains the richest person in the world.
BEZOS, ARNAULT, AND GATES ARE IN FALL
While Musk will be the biggest loser in 2022, it is followed by Jeff Bezos, the founder of Amazon.
Bezos’ fortune has dropped to $116 billion, down $76.7 billion since the start of the year.
Bezos, once the richest person in the world, is now in fourth place.
The wealth of Bernard Arnault, the richest person in Europe and France, also fell by $21.5 billion this year to $157 billion. Arnault ranks second on the list of the richest.
Bill Gates, the boss of Microsoft, is also in the 5th place on the richest list with a loss of $ 25.3 billion this year. Gates currently has a net worth of $113 billion.
THE RISE OF THE INDIAN BILLIONARY
In 2022, while famous billionaires suffered great losses, Gautam Adani, the richest name in India, recorded a great rise.
Adani, 60, has a net worth of $130 billion, an increase of $53 billion this year.
In the late 1980s, Adani left the university and started with an agri-trade firm, and most of her fortune has been acquired in the last two years.
According to Bloomberg billionaires index data, Adani’s wealth was $5.8 billion on March 16, 2020.
Known for its coal production and trade and port management, Adani has also made a name for itself with its renewable energy and media investments in recent years.
Budget deficit warning from IMF to France
The International Monetary Fund (IMF) has called on France to adjust its fiscal policies to reduce the budget deficit from next year so that public debt does not rise.
The International Monetary Fund (IMF) has issued a budget deficit warning to France.
Accordingly, the IMF called on France to adjust its fiscal policies to reduce the budget deficit, starting next year, in order not to increase the public debt.
The organization has published a report on the financial situation of France, which has spent billions of dollars to save businesses and households affected by the energy crisis.
In the report, which asks France to review its financial situation and consolidate its economy from the beginning of 2023, France has spent more than 2 percent of GDP in a year due to the freezing of electricity and gas prices, energy checks, discounts on fuel and support provided to companies. he was reminded.
Emphasis on ‘A DIFFICULT TO CARRY’
In the report, it was pointed out that the government’s support to prevent unemployment and business closures by saying “whatever it takes” is a difficult burden to bear on the public budget, which has been greatly deteriorated due to the Kovid-19 outbreak.
“The support for the 2 crises and the epidemic that has diminished in effect requires France to consolidate its 2023 public budget.” The report, called the report, pointed out that Paris instead postponed reducing the budget deficit until 2024.
LEFT GROWTH FORECAST AT 0.75 PERCENT
The report stated that the government expects a 5 percent deficit next year after the 4.9 percent budget deficit this year, and underlined that Paris’s goal is to reduce this deficit to 3 percent only by 2027, contrary to its neighbors acting as early as possible.
In the report, which was noted that the IMF left its 2023 growth forecast at 0.75 percent due to the extension of energy measures and tax cuts applied to companies, it was also cited that a postponement of energy support and tax cuts would significantly reduce the budget deficit.
The report also recommended that the IMF focus on reducing the retirement age, completing unemployment reform, moderate spending, including fossil fuels and housing, and structural reforms in public services.
Fitch expects US and Europe to enter recession
International credit rating agency Fitch Ratings reported that recession is predicted for the US and Euro Zone economies in the coming period.
In the statement made by the credit rating agency Fitch Ratings, it was reported that the US and Euro Zone economies are expected to enter a recession in the coming period due to the decreasing consumer demand in the face of increasing inflation.
In the statement, it was stated that the recession in the Euro Area was expected to start earlier this year than the USA and to be experienced more severely due to the natural gas crisis increasing the volatility in energy prices.
GOVERNMENTS’ FUNDING COSTS WILL INCREASE
In the statement made by the credit rating agency, it was stated that the funding costs of the governments are expected to increase in 2023 due to rising interest rates and global inflation.
China, whose outlook is limited due to the uncertainties regarding the new type of coronavirus (Kovid-19) epidemic and the ongoing tension in the real estate sector, is not expected to increase global growth significantly next year. will accompany the costs”.
In the statement, it was stated that 2022 was the second year in which the most downgrades were made in emerging market economies evaluated by the credit rating company.
RISKS INCREASED WITH THE VALUE OF THE DOLLAR
“Geopolitical risks remain high,” Fitch Ratings said in a statement. There is no clear path to reconciliation for Russia and Ukraine, and similarly for China-US relations,” the assessment was included.
Stating that supply chains are affected by the risks related to global conflicts and that possible risks tend to spread, the following statements were also included: “The risks regarding country loans of emerging markets increased with the appreciation of the dollar. In 2023, the focus will be on smaller emerging market economies with higher financing needs compared to foreign exchange reserves.
The budget allocated to floating LNG terminals in Germany will be doubled
Floating LNG terminals in Germany, with a budget of 2.94 billion euros, will cost 6.56 billion euros with additional infrastructure and operating costs.
The German Ministry of Economy and Climate Protection reported that the purchase and maintenance of floating liquefied natural gas (LNG) terminals, which will help secure the country’s energy supply, will cost around twice the projected rate.
According to the statement made by the Ministry, it is calculated that the purchase and maintenance of LNG terminals, for which a budget of 2.94 billion euros was previously allocated, will cost 6.56 billion euros.
The Ministry noted that additional infrastructure and operating costs were effective in the price increase at the said terminals.
‘MORE ADDITIONAL COSTS IDENTIFIED’
In the statement shared by the ministry, it was stated that “More additional costs were determined in extensive consultations with many stakeholders”.
It was also underlined that the reduction and subsequent cut off of gas supplies from Russia made LNG terminals “absolutely necessary”.
Siemens’ profit in the 2022 fiscal year reached 72 billion euros
Siemens increased its turnover to 72 billion Euros in the 2022 fiscal year, with an 8.2 percent increase on a comparative basis, excluding exchange rate differences and portfolio effects.
Siemens announced its growth and profit figures for the 2022 fiscal year. Accordingly, as of September 30, 2022, it reached a profit of more than 10 billion Euros in the Industry Business Area.
The company increased its turnover to 72 billion Euros in the 2022 fiscal year, with an increase of 8.2 percent on a comparative basis, excluding exchange rate differences and portfolio effects.
Orders increased by 17 percent on a comparison basis and reached 89 billion Euros. The Supervisory Board and the Board of Directors have proposed to increase the profit per share offer from 4 euros the previous year to 4.25 euros for this year.
RECORD PROFIT IN THE INDUSTRY
Roland Busch, Chairman and CEO of Siemens AG, stated in his statement on the subject that they have achieved record profit figures in the Industrial Business Area.
“Siemens achieved a record profit of more than 10 billion euros in the Industrial Business Area in fiscal 2022. By successfully implementing our strategy, we achieved a significant market share and achieved high value growth. Strong demand continues for our hardware and software products. This includes the higher-than-expected increase in our digital business turnover.”
GROWTH IS EXPECTED TO CONTINUE
Siemens’ projections for the 2023 fiscal year are based on the assumption that geopolitical tensions will not escalate any further and that COVID-19 challenges and supply chain constraints will continue to improve.
Under these conditions, the company’s industrial business segments are expected to continue their profitable growth, especially given the high pending order volume in the short-term business segments.
For the Siemens Group, the company’s comparison-based revenue growth expectation, adjusted for exchange rate differences and portfolio effects, is between 6 and 9 percent, while the order-to-sales ratio expectation is above 1.
Calls on British government to ‘act against labor crisis’
British Industry Confederation Director Tom Danker said that the labor shortage in the country should be resolved through immigration policy.
As of September, the number of unemployed in the country was recorded as 1 million 244 thousand and 3.4 percent.
Tom Danker, Director of the Confederation of British Industry (CBI), stated that the labor shortage in the country should be resolved through immigration policy.
Speaking at the CBI annual general meeting in Birmingham, Danker urged British politicians to come up with more practical solutions to the country’s immigration policies.
Danker said in his speech that the British government should enable economic based migration in areas with a shortage of skilled workers.
CBI Director Danker urged business representatives to be honest about the workforce gap in the economy and said, “We don’t have the employees we need, nor our productivity.”
‘THEY ARE DEATHING THEM’
In his speech, Danker said, “First, we lost hundreds of thousands of employees due to the cessation of economic activity during the epidemic. “Those who think they’re going back to work now are deluding themselves, especially when the NHS is under pressure,” he said.
Pointing out that the foundations of the labor shortage in the country go deep, Danker said, “There are no British people who want to work in the current positions. There is a mismatch between the required qualifications and the workforce. “It’s unrealistic to think that automation systems can do most of the work,” he said.
Although British Finance Minister Jeremy Hunt stated last Friday that immigration is extremely important for the country’s economy, he noted that they aim to reduce the annual number of immigrants.
NUMBER OF UNEMPLOYMENT INCREASED TO 1.2 MILLION
According to data from the British Office of Budget Responsibility (OBR), the country accepts an average of over 200,000 immigrants per year, while the annual number of immigrants is expected to reach 205,000 by 2026.
As of September this year, the number of unemployed in England was recorded as 1 million 244 thousand and 3.4 percent.
As of October this year, the skilled labor shortage in the country was recorded as 1 million 225 thousand.
How to open a bank account in the Netherlands?
How to open a bank account in the Netherlands? One of the first questions that people who start living in the Netherlands wonder is “How to open a bank account in the Netherlands?” is happening.
In this content, we will answer the question “How to open a bank account in the Netherlands?” We will try to answer the question.
Those considering living in the Netherlands short-term or long-term need a bank account to take care of their basic daily chores or to send and receive money.
How to open a bank account in the Netherlands?
Before opening your bank account, you need to choose which bank suits your needs or policies. You should also consider that most banks charge annual dues for opening an account.
The largest banks in the Netherlands
After choosing your bank, you need to check the details of the accounts offered to see if it suits your needs and requirements.
How to open a Dutch bank account?
To open a private bank account in the Netherlands, it will be sufficient to make an appointment online or go to the nearest bank branch with all the necessary documents.
Documents for a Dutch bank account
To open a bank account in the Netherlands, you will need:
– Your BSN number (Burgerservicenummer)
– A valid form of identification (passport or ID card – usually a driver’s license is not accepted)
– Certificate of residence
– Residence permit if you come from outside the EU
After all the details are processed, you just have to wait until your account is approved and your card is sent to you.
Banking for businesses in the Netherlands
If you have started your own business in the Netherlands and want to open a bank account, the process is basically the same as opening a private account. In addition to the above personal information, you must also have all the necessary details about your business, for example, your KvK number and the registration of your turnover. Most banks have different types of business account facilities depending on your company’s turnover.
Internet banking in the Netherlands
It is becoming more and more common for both Dutch and those new to live in the Netherlands to do financial work online via internet banking. Internet banking in the Netherlands is convenient, secure and allows you to do almost all transactions that you can do in person.
Note that some banks in the Netherlands only offer their Internet services in Dutch. But you can always get a help from the bank teller when you open your account
E.dentifier card readers
You must have an E.dentifier to log into your internet banking. E.dentifier is a card reader that will help you securely log in and complete any actions you want to take. Every Dutch bank has its own card reader. If you request internet banking access when you open a bank account, you will probably be given your own e.dentifier when your account is verified.
In some cases, your bank may also use your mobile number to forward more codes to you to ensure absolute security.
In addition, if you have a smart phone, it is possible to perform many different transactions by using the internet banking program on your phone.
What is iDeal?
iDeal is an online payment method where you can use your debit card instead of your credit card. You use your e.dentifier and pin code to pay for products via iDeal.
Loans in the Netherlands
Loans provided by banks such as ABN AMRO are the most common form of lending in the Netherlands. However, there are a number of credit institutions and you can always use a credit card if the amount you need to borrow is not very large. How much you will receive will depend on several factors such as your age, financial assets, income and residence status.
There are many comparison sites you can use to evaluate your options when it comes to getting a loan in the Netherlands. Alternatively, you can go to your bank and talk to a consultant.
Credit cards in the Netherlands
Credit cards are not widely used in the Netherlands, mainly thanks to the popularity of the online debit card payment system iDeal.
Most major Dutch banks will offer you a credit card such as ABN AMRO as long as you have a minimum monthly net income that can be proven by an employment contract. The required net amounts differ from bank to bank. Depending on your monthly net income and whether you have studied in the Netherlands, cards with different limits may be offered.
Credit card debt repayment in the Netherlands is usually done monthly, via direct debit from your regular account. If you want to defer a payment for longer than that, you may be subject to a much higher interest rate.
It is also possible to purchase a credit card directly from an international supplier such as American Express.
What is SEPA?
SEPA stands for Single Euro Payment Area and entered into force on 1 February 2014.
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