Economy

Full EU membership must remain the ultimate goal for candidate states, Prime Minister Rob Jetten insisted ahead of a summit in Montenegro, rejecting French and German proposals for a phased accession process. While Jetten agreed that countries should see the benefits of their reforms sooner, he warned that partial access to the single market could create a two-tier Europe. Working alongside Belgium and Luxembourg, he urged candidate nations to stay focused on the European path rather than turning towards Russia, promising that the Benelux countries will soon release their own plans to improve the joining process.

The Amsterdam AEX index opened lower on Friday, dragged down by a 3 per cent drop for chip giants ASMI, Besi, and ASML following a tech sell-off in the US and Asia. As global investors shift from tech stocks to traditional sectors ahead of the latest US jobs report, wider European markets remained mixed, while Asian tech shares suffered heavy losses. On the local market, paint maker AkzoNobel and builder Heijmans posted gains, but Air France-KLM shares fell after a downgrade by Barclays, and Heineken investors piled pressure on the brewer to appoint an external CEO.

Amazon will invest €10 billion in expanding and modernizing its European logistics network, creating 25,000 new jobs. The company is boosting same‑day delivery capacity with new micro‑distribution centers, while facing rising competition from Chinese rival JD.com.

The Netherlands has more millionaires than ever, with both their numbers and total wealth rising. A new Capgemini report links the increase to economic growth, higher incomes, and strong stock markets driven by AI optimism.

CPB research reveals that solar panel ownership in the Netherlands is still dominated by higher‑income households. Housing associations help lower‑income groups access solar energy, while private renters lag behind.

ABN AMRO's youth bank BUUT has introduced mobile payments for children from the age of 10, making it the first in the Netherlands to offer this service to under-16s. Parents retain full control over the feature, allowing them to monitor spending, set limits, and guide their children in managing money digitally. The system uses dedicated digital pouches for different spending categories to help teenagers track their expenses.

Mortgage applications dipped slightly in May, but activity remained high after a surge earlier in the year. First‑time buyers submitted fewer applications, while rising home values outpaced the growth in mortgage amounts. HDN says the figures suggest buyers are relying more on their own funds.

The Amsterdam AEX index dipped slightly by 0.2 per cent to close at 1,034.93 points on the final trading day of May, despite booking an overall monthly gain of more than 2 per cent. Construction firm BAM stole the spotlight in the MidCap index, surging 16.6 per cent after broker Oddo BHF upgraded the stock to a "buy" based on improved profitability in its UK operations. Elsewhere, ABN AMRO led the main index gains following the completion of its €250 million share buyback scheme, while Heineken dropped 2.3 per cent. Meanwhile, broader markets saw slight dips in London and Paris, and oil prices slid up to 1.9 per cent on hopes of a swift end to conflict in the Middle East.