Royal Dutch Shell wins Business of the Year Award 2011
Each year, on an alternating basis, Canadian or Dutch companies are nominated. This year Dutch companies in Canada were judged on their contribution to the Dutch-Canadian business landscape and national economies. The nominees were KLM, Royal Dutch Shell, ING Direct and VolkerWessels. Canada’s Ambassador to the Netherlands, H.E. James Lambert announced this year's winner of the Business of the Year Award to be Royal Dutch Shell.
Representing Shell, Drs. D.A. Benschop, President Director Shell Nederland BV, accepted the award in recognition of their outstanding performance in Canada. In his speech Mr. Benschop addressed the the need for energy in a time of a rapidly growing world's population related to Shell's efforts to a sustainable way of producing and working. The Royal Dutch/Shell Group incorporated its Canadian business in 1911 with a capital of only $50,000 (or about $1 million in today’s dollars). The company opened its Longue Pointe Bunkering Plant in Montréal with just six employees a few years later. Through the years Shells’ business grew, as did the country.
Nowadays Shell is one of the largest integrated petroleum companies in Canada. It produces natural gas, natural gas liquids, bitumen (a very heavy crude oil) and a synthetic crude oil derived from bitumen. As a by-product of gas and oil sands production, Shell also produces sulphur. These so called upstream activities to explore and produce oil and gas are located mainly in Alberta and British Columbia. But Shell is also active in the eastern offshore of Canada and near the Arctic Mackenzie Delta. Shell is also active in the downstream sector, the production and marketing of oil and chemical products. The company owns two refineries, two chemicals production sites and an extensive network of depots and petrol stations all over the country. Undoubtedly the most challenging Shell in Canada project of the last decade is the Athabasca Oil Sands project (AOSP) in north-east Alberta which mines deposits of bitumen-saturated sand. It extracts the bitumen from the sand and converts the bitumen into a synthetic crude oil. AOSP is a joint venture, with Shell as the operator and a 60% interest. During 2010 an expansion of the mine was completed and this year the Scotford Upgrader was expanded. Total production capacity is now 255 thousand barrels of oil equivalent per day. Since the start of the oil sands development, Shell has actively taken steps to predict, manage, mitigate and monitor the environmental, socio-economic and cultural effects of its oil sands projects in consultation with our Aboriginal neighbours and other local stakeholders. Shell believes these measures are key to the success of its operations.
Business magazine Forbes ranks Canada as best country for business
Forbes ranked Canada as the number 1 country for business in their recently released annual look at the Best Countries for Business, moving up from 4th rank last year, helped by a lower overall tax burden. The influential U.S. business magazine noted that while the U.S. is facing the possibility of a double-dip recession and Europe struggles with sovereign debt issues, Canada’s economy has held up better than most. Forbes praised Canadian banks for skirting the financial crisis that began in 2007. “Canadian banks emerged from the tumult among the strongest in the world thanks to their conservative lending practices,” Forbes said.
Forbes noted that Canada ranked 9th among the 134 countries reviewed for tax burden compared with 23rd in the category for 2010 and cited the introduction of the harmonized sales tax last year, lower corporate and employee tax rates for helping business. Canada was the only country to rank in the top 20 in 10 of the 11 categories considered by Forbes. The American magazine ranked the countries based on 11 different factors including property rights, innovation, taxes, technology, corruption, freedom, red tape, investor protection and stock market performance.
The Economist Intelligence Unit (EIU) also considers Canada as the best place to do business over the next five years and the International Monetary Fund (IMF) predicts that Canada, along with Germany, will have the fastest economic growth in the G-7 in 2011 and 2012. “In light of these results, it is no surprise that the Dutch are taking advantage of Canada’s excellent business environment”, James Lambert, Ambassador of Canada in the Netherlands, noted. “Investment is now one of the key drivers of our bilateral relationship.” The Netherlands is the 2nd largest investor in Canada and Canada is the 7th largest investor in the Netherlands. For more information, please see: Forbes and Invest in Canada
Quebec Festival in Groningen, November 4 - 13, 2011
Spotlight on Québec and its culture from November 4 to 13 in Groningen! Discover circus as you’ve never seen it, exceptional musical groups, internationally renowned contemporary dance, theatre by one of Québec’s most prolific and daring playwrights, migrant literature by authors from Québec and the Netherlands, first-run films, amazing digital art and surprising, mouth-watering cuisine. Don’t miss out on the exciting, multidisciplinary program prepared by De Oosterpoort, De Stadsschouwburg, the Groninger Forum & ForumImages, Ciné Premières and the University of Groningen, in collaboration with the Québec government office in Brussels (DGQB). More info: click here.
Schiphol Airport wins Canadian prize for best airport
According to the magazine Baxter Travel Media, Schiphol owes this honour to the service it renders. The tax-free shops, the many different restaurants and Holland Casino: they all contribute to the diversity of the proposition for the passenger. “It is the shopping and the easy getting around at the airport - especially as I do not speak Dutch, and everybody speaks English at the airport”, according to one of the Canadian travel agents. The magazine explicitly mentioned the further expansion of the facilities at Schiphol. Examples which were mentioned are the recent opening of the “Airport Park”, where people can relax prior to their departure, or the Airport Library, the first permanent library at an airport worldwide.
Baxter Travel Media executes an annual survey amongst Canadian readers, resulting in the “Agents’ Choice Awards”. This year 4,800 travel agents determined the winners in 24 different categories.
Easier border passage for Privium and Canpass air members
As per the fall of 2011 Canadian citizens, who are members of Canpass Air can enjoy the benefits of automated border passage and fast track security facilities of Privium at Amsterdam Airport Schiphol. Likewise the Canpass Air program that offers fast border passage at 8 Canadian international airports will be available to Dutch citizens who are members of Privium. Under the FLUX arrangement, a similar service between the Netherlands and US already exists.
Canpass Air facilities are available at the following international airports in Canada: Calgary, Edmonton, Halifax, Montreal, Toronto, Ottawa, Winnipeg en Vancouver. Using self service kiosks and iris recognition, trusted travelers can make use of fast track border passage. Trusted travelers can avoid line-ups at some of Canada’s busiest airports. More information can be found on the Canpass website.
Privium is Schiphol Airport’s service program for frequent flyers who wish to travel without unnecessary delay. Privium membership makes travel a pleasant experience. Travelers are offered exclusive facilities that provide speed, comfort and priority. The Privium Basic membership with automated border passage using iris recognition and fast lane security controls is the standard option in the FLUX arrangement. Upgrade to the more exclusive Privium Plus package is possible at all times. More information can be found on the Privium website.
SIBOS conference at metro Toronto Convention Center 19-21 September
Every year Sibos brings together influential leaders from financial institutions, market infrastructures, multinational corporations and technology partners to do business and shape the future of the financial industry. Facilitated and organised by SWIFT for the SWIFT community, Sibos is much more than a conference and exhibition. It is a unique forum to collaborate and take collective action in payments, securities, cash management and trade. With the power to draw over 8,000 participants from across the globe, Sibos is unparalleled in its reputation to reach the entire financial services industry.
The City of Toronto is hosting this year’s SIBOS conference at the Metro Toronto Convention Centre from September 19th to 23rd, inclusive. Few other financial services conferences have the caché to attract the global participants that SIBOS commands. The attached "SAVE THE DATE' is for your travel and calendar planning. As the host city, Toronto is most pleased to showcase its leadership not only in Financial Services, but also in Technology and Operations.
During SIBOS, the Toronto Financial Services Alliance (TFSA), the Ontario Ministry of Economic Development and Trade (MEDT) and partners are hosting a Toronto Business Lounge from September 19th to the 21st inclusive. The Lounge will be hosted at all times by a senior TFSA member and will be used for a variety of purposes from daily receptions and panel discussions to booking one-on-one meetings. A SIBOS General Description is attached for your reference, which provides detailed information on the Toronto Business Lounge, the concept, objectives, set-up etc.
Should you wish for us to organise an introduction on your behalf, we would be pleased to do so, if you give us ample notice and sufficient detail. For more detail on SIBOS, please refer to: www.sibos.com
Research In Motion wins the Business of the Year Award 2010
Canada’s Ambassador to the Netherlands, H.E. James Lambert, presented the Canada-Netherlands Business of the Year Award at the Annual Luncheon of the Netherlands-Canadian Chamber of Commerce on November 10th. The Business of the Year Award, a long and time-honoured tradition, has been presented to Research In Motion (RIM) in recognition of outstanding performance in the Dutch market. In the past year, RIM continued its record breaking growth supported by its close business relationships with all three carriers in the country. RIM also opened this year an office in Amsterdam and the company continues to introduce new and innovative products and develop alliances with local partners. The runner-up for the award is Kubik Inc.
Award winner Research in Motion (RIM), based in Waterloo (Ontario), is a global leader in wireless innovation, and revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. Over the years, BlackBerry products and services have become an icon for business users and have grown from a boardroom essential to a desirable consumer lifestyle accessory. Today, BlackBerry smartphones are used by over 50 million customers around the world to stay connected to the people and information that matter most throughout their day. According to Market Research Agency GfK Retail and Technology, the BlackBerry® Bold™ 9700 smartphone has been the #1 bestselling Mobile Phone and Smartphone in the Netherlands since July 2010, and the company recently launched the highly-anticipated BlackBerry® Torch™ 9800 Smartphone. For more information please see: Research in Motion
More information: RIM wins Business of Year Award
Merger between NYSE Euronext and Deutsche Boerse AG using Dutch holding company
Deutsche Boerse AG and NYSE Euronext announced mid February that they intend to merge to create the world leader in derivatives trading and risk management, and the largest, most well known venue for capital raising and equities trading. The combined group expects to save € 300 million annually. The transaction will strengthen Frankfurt and New York as key financial centres, while benefiting Paris and London as well as Luxembourg. Each of the group's national exchanges, including those in Amsterdam, Brussels, and Lisbon, will keep its name in its local market and all exchanges will continue to operate under local regulatory frameworks and supervision. The Amsterdam stock exchange expands for the third time in eleven years.
For the merger a new Dutch holding company will be formed: Alpha Beta Netherlands Holding NV. The Dutch holding company is expected to be listed in Frankfurt, New York and Paris and will have dual headquarters in New York and Frankfurt. Alpha Beta Netherlands Holding NV will be 60 percent owned by Deutsche Boerse and 40 percent owned by NYSE Euronext. Shareholders of the German company can swap their shares on one to one basis. A share in NYSE Euronext may be exchanged for 0.47 percent. The merger is subject to approval by shareholders and regulators. The closing is expected at the end of 2011.
Wittington Investments cleared to buy Dutch Bijenkorf
On January 20, 2011 the European Commission granted clearance to the acquisition by W. Galen Weston’s Wittington Investments Limited (Canada) of Magazijn “De Bijenkorf” B.V. (Netherlands; De Bijenkorf) from the Maxeda Retail Group.
De Bijenkorf has been acquired by Wittington's subsidiary, Selfridges Group Limited based in the UK, the operator of luxury fashion retail stores such as Selfridges (UK), Brown Thomas (Ireland) and Holt Renfrew (Canada). De Bijenkorf is an Amsterdam-based owner and operator of 12 luxury department stores throughout the Netherlands.
Toronto-based Wittington is owned by the Weston family and is active in food processing and distribution, financial products and services, commercial real estate holdings in addition to operating luxury fashion retail stores. W. Galen Weston described De Bijenkorf as “one of the most important luxury goods companies in the Netherlands”.
Canada agreement offers opportunities in former Netherlands Antilles
The Tax Information Exchange Agreement (TIEA) between Canada and The (former) Netherlands Antilles came into force on January 1, 2011. Both countries signed the agreement in August 2009 which covers the five islands formerly comprising The Netherlands Antilles until dissolution in October 2010: Curaçao, Bonaire, St Maarten, St Eustatius and Saba.
As of 2011 Curaçao subsidiaries with ‘active business income’ may be able to repatriate their profits to Canada without any further taxation at the level of the Canadian parent company. Intergroup interest and royalty income will also, according to the relevant Canadian tax rule, be considered as active business income.
No further requirement applies to the level of taxation of such active business income of the Curaçao subsidiary. The Canadian tax exemption on dividends from a Curaçao subsidiary will only apply to the extent that such dividends consist of profits earned in the period in which the TIEA is in force. The dawn of the new TIEA will make Curaçao an even more attractive base for Canadian-owned multinational groups, due to the tax benefits that may accrue. Curaçao is among the first jurisdictions in the Caribbean to have brought in such a TIEA, and expects to gain an important competitive edge over neighboring jurisdictions.
Canada ranked No. 1 nation with most favorable brand performance
The USA has slipped three notches to No. 4 in an annual ranking of nations with the most favorable brand performance, says a new study. Climbing to the top spot (from No. 2 in 2009) is Canada, thanks in part to its success in hosting this year's Winter Olympics in Vancouver. Australia and New Zealand rank second and third. Rounding out the top 10 are Switzerland, Japan, France, Finland, the United Kingdom and Sweden.
The 2010 Country Brand Index compiled by FutureBrand, a global brand consulting firm, was released today (complete rankings will be posted Nov. 15). The USA's No. 1 ranking last year was attributed to the "Obama effect," and its slip into fourth place this year likely also is Obama-related, says Daniel Rosentreter, FutureBrand's chief strategy officer. "What we've seen this year is the shine may be off. Obama hasn't delivered what the world expected," he says. The three worst performing country brands: Zimbabwe, Iran and Pakistan. Now in its sixth year, the survey (produced in partnership with BBC World News this year), queried 3,400 business and leisure travelers on five continents, augmented by expert focus groups, on their image associations of various countries in five categories, including tourism appeal, quality of life and value systems. Click to go to Country Brand Index