Royal Bank of Scotland could shift base to Netherlands after Brexit
The Dollar Business Bureau The Chief Executive of Royal Bank of Scotland (RBS), Ross McEwan, revealed today that they are in discussions with the Dutch Central Bank to use it as a base after Britain exits the European Union. McEwan revealed today that RBS plans to build its Amsterdam unit which was acquired after RBS bought ABN-Amro in 2008. Though presently the staff at Amsterdam are only a handful, the bank plans to increase the staffing size to 150. McEwan told reporters, "Setup costs will be in the low tens of millions, running costs also in the low tens of millions.” RBS in its half-year report said, "NatWest Markets has reviewed ways to minimise disruption to the business and continue to serve its ...
After ban on trade of cattle for slaughter, Ministry to announce Rs 4000 cr package for the leather industry
Sheela Mamidenna With the Central government announcing curbs on cattle slaughter on May 26, the leather exports industry seems to be bracing itself for a rapid downward spiral. Though there seems to be a lot of misinterpretation on the latest notification, till the Government comes up with a plausible explanation, the Indian leather industry and its buyers are left frazzled. According to media reports, major international fashion houses have started enquiring from their suppliers whether they would be able to meet their commitments. Meanwhile, the Commerce and Industries Ministry has suggested a proposal to the Finance Ministry asking for a Rs 4,000-crore package, which includes both tax and non-tax benefits similar to the one announced for the textiles sector last year. According to officials ...
A weaker EU doesnt help anybody: Dutch Trade Rep
Sneha Gilada Netherlands – India’s fifth largest trading partner, is a small service economy of 17 million people. The country’s recent elections allayed fears of Brexit sparking a full-fledged anti-EU movement, as the pro-EU party, led by Mark Rutte retained power. However, the upcoming French and German elections will be crucial in determining the standing of EU in the current geopolitical environment fraught with anti-free trade sentiment. To elucidate the risks associated with a weaker EU for India and the world in general, The Dollar Business (TDB) spoke to Ajay Justin Odathekal (AJO), Chief Representative, Netherlands Business Support Office, Hyderabad. He also talks at length about India’s trade relations with Netherlands, the challenges that need to be addressed and the opportunities that hold ...
Airtel to sell its two African ops to Orange
The Dollar Business Bureau France-based Orange and Bharti Airtel International (Netherlands) BV have entered into an agreement under which the French firm will acquire Airtel’s operations in Burkina Faso and Sierra Leone. This deal is part of Orange’s international development strategy to spread its wings to the emerging markets. Through this deal, Orange intends to reinforce its presence in Africa with two additional countries, adding almost 5.5 million customers to its mobile customer base. “This acquisition marks an important step forward in Orange’s dynamic growth strategy and will bring the group’s African footprint up to 20 countries in 2016,” Airtel said in a statement on Wednesday. “Under the deal, Orange will acquire 100% of the two companies’ share capital and ...
