Business

The war in Iran has caused the largest oil supply disruption in history, prompting the IEA to call for immediate measures: from lower speed limits to reduced air travel. All measures are in view to curb fuel demand as prices continue to surge.

The implementation of the trade deal between the European Union and the United States has moved a step closer. Last summer, the European Commission and the US government agreed that the US would apply a general tariff of 15 percent to most European products. Conversely, there will be no increased tariffs and Brussels itself will scrap tariffs. These proposals still need to be ratified but do a general direction of the trade agreement.

Oil prices have risen further following attacks on key energy facilities in the Middle East. Missiles struck Qatar's main gas production site. At the pump in the Netherlands, recommended prices for petrol and diesel continued to rise above €2.50 for a litre.

German chemical leader BASF has announced price increases of up to 30 per cent for cleaning product ingredients as the conflict in Iran disrupts global supply chains. Rising costs for energy and raw materials are forcing manufacturers to adjust their pricing, which may soon affect the cost of household brands. Other major chemical firms are also reporting similar spikes in the prices of animal feed and industrial rubber.

The research institute Imec has received a groundbreaking new machine from ASML that will allow for the development of the world's smallest chips. This installation in Leuven aims to pioneer the next generation of hardware for artificial intelligence and high-performance computing. Experts expect the system to be fully operational by the end of 2026.

ASML has proposed a new social plan to support 1,400 employees facing redundancy in the Netherlands, offering double the usual transition pay. However, trade unions have criticised the move, blaming the job cuts on years of poor organisational management. The plan now awaits a decision from the company's works council.

A new autonomous robot is helping nurses spend more time with patients by taking over delivery tasks in busy hospitals. The innovation has earned a nomination for a major national award, with the public now invited to vote for the winner.

Meta plans to cut thousands of jobs as it shifts more investment into artificial intelligence. Sources say the reductions could reach one‑fifth of the workforce, though no final decision has been made. The move reflects a wider trend in the tech sector as companies rely more heavily on AI tools.