WASHINGTON, Feb. 17, 2022 /CNW/ — The Invest in Holland network, and the Netherlands Foreign Investment Agency (NFIA), which represents the national government as a partner, were involved in 423 investment projects by foreign companies in 2021. This includes both new and expansion investments into the country, and brings the number of companies opting for the Netherlands back to 2019 levels, showing a stabilization of business investment since the start of the COVID-19 pandemic.
The 423 projects are expected to create nearly 13,400 direct jobs and an investment value of EUR 2.3 billion in the first three years. In 2020, the number was substantially lower as COVID-19 led to foreign companies postponing or changing investment decisions.
A growing number of these companies strengthen regional ecosystems and actively contribute to the Netherlands’ social and economic goals, relating to innovation, digitalization and sustainability.
Micky Adriaansens, Minister of Economic Affairs and Climate Policy, and responsible for NFIA, emphasizes the importance of foreign businesses for the Netherlands:
“Businesses and entrepreneurs are indispensable to the Netherlands. Foreign companies also make an important contribution to our economy. For example, they account for 30% of the total private expenditure on research and development in the Netherlands. Commissioned by the cabinet, NFIA has since 2020 been focusing more on attracting high-quality business activities related to innovation, digitalization and sustainability. I am pleased that the annual figures are showing the first results of this focus.”
Hilde van der Meer, NFIA Commissioner and Chair of the Invest in Holland network: “The Netherlands is committed to finding sustainable, innovative and digital solutions to global challenges. That is why Invest in Holland is keen to welcome and assist foreign companies that contribute to this goal and strengthen our international ecosystems.Our country offers an excellent business climate for scaling up solutions with impact for the European and global market.”
Investing in the future together Since 2020, NFIA and the Invest in Holland network have proactively focused on attracting companies that accelerate sustainability, provide new digital applications or enable future innovations. In 2021, there were already several examples of this new focus.
American company Bristol Myers Squibb (BMS) started the construction of its first European CAR T-cell therapy facility in Leiden in 2021. In this manufacturing center, BMS develops personalized therapies for patients with blood cancer, and contributes to the growth of the Netherlands’ leading role in the field of CAR T-cell therapy.
The Scottish company ENOUGH started building a factory that produces alternative proteins in 2021. The factory in Sas van Gent produces circular raw materials from residual products that come from the nearby Cargill facility. ENOUGH also leads a European research consortium into alternative proteins, in which Wageningen University & Research participates as well.
U.S. and India based Quantiphi announced last year that it was opening a new service delivery center in Amsterdam. From this strategic European location, Quantiphi helps to streamline healthcare, education and public sector processes through AI, cloud and data solutions. The company aims to grow its presence in the Netherlands, including further developing their R&D together with Dutch engineers.
Increasing share of companies from Europe Of the 423 foreign companies that chose the Netherlands in 2021, a third came from Europe (32%), a third from North and South America (30%), and a third from Asia (30%). The share of European companies was larger in 2021 than in previous years.
This growth is largely due to an increased number of companies impacted by Brexit that decided to establish presence in the Netherlands last year. Since the referendum in 2016, 316 Brexit companies (companies that have experienced disruption due to Brexit) have chosen the Netherlands. The activities of these companies in the Netherlands are expected to generate almost 8,000 jobs and EUR 782 million in investments in the first three years.
For more information about foreign direct investment in the Netherlands, visit www.investinholland.com.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
