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Experts at ABN AMRO predict that bankruptcies will escalate this year and the next due to soaring energy prices and the phasing out of government aid, according to a report by the bank. ABN AMRO expects a withdrawal in wage-support measures to increase bankruptcies, driving more people into the labor market. The catering industry was especially hard hit judging by …

Lockdown costing hospitality industry €200 million in revenue weekly: ABN Amro

The current lockdown means that the catering industry is losing 200 million euros in turnover every week, economists at ABN Amro have calculated. The leisure sector, which includes both the hospitality industry and travel organizations, will also not return to the level of 2019 next year, due to the effects of the coronavirus pandemic. The transport and logistics sector also …

ABN Amro believes that digital currencies can lead to a greater level of prosperity. According to the bank, cryptocurrencies can improve productivity and boost economic growth, especially in developing countries, making the financial industry more efficient. Once regulated stablecoins or CBDCs establish a reliable payment system, they can provide users with access to banking services and products, the bank said. …

ABN Amro Bank NV became the latest bank to exit the commodity and trade finance business, further shrinking the pool of funds available to trading houses moving trillions of dollars of oil, metals and grains around the world every year. “ABN’s decision to pull out of commodity trade finance is worrying for the sector,” said Jean-Francois Lambert, an industry consultant …