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153-461: Rabobank ( Dutch pronunciation: [ˈraːboːbɑŋk] ; full name: Coöperatieve Rabobank U.A. ) is a Dutch multinational banking and financial services company headquartered in Utrecht , Netherlands. The group comprises 89 local Dutch Rabobanks (2019), a central organisation (Rabobank Nederland), and many specialised international offices and subsidiaries . Food and agribusiness constitute

306-854: A RaboDirect in Germany. Rabobank has had a presence in Germany since 1984. It has operated in the field of corporate finance and has been primarily active in the food and agriculture sector in the country. Rabobank operated a direct bank in Poland, but under the Bank BGZ operation and using the name "BGZ Optima". The Polish business including BGZ Optima was subsequently sold to French bank BNP Paribas in December 2013 for around $ 1.4 billion. Rabobank has naming rights to several venues and organizations, including: The major investment banks in London report daily

459-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

612-479: A city thought to be overwhelmed by the tourist influx. Construction of a new metro line connecting the part of the city north of the IJ to its southern part was started in 2003. The project was controversial because its cost had exceeded its budget by a factor of three by 2008, because of fears of damage to buildings in the centre, and because construction had to be halted and restarted multiple times. The new metro line

765-482: A consequence is directly supervised by the European Central Bank . Rooted in agriculture , Rabobank is set up as a federation of local credit unions that offer services to the local markets. The bank was rooted in the ideas of Friedrich Wilhelm Raiffeisen , the founder of the cooperative movement of credit unions, who in 1864 created the first farmers' bank in Germany. Being a countryside mayor he

918-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

1071-726: A defense of Catholicism during the Protestant Reformation. The main reasons for the uprising were the imposition of new taxes, the tenth penny, and the religious persecution of Protestants by the newly introduced Inquisition . The revolt escalated into the Eighty Years' War , which ultimately led to Dutch independence. Strongly pushed by Dutch Revolt leader William the Silent , the Dutch Republic became known for its relative religious tolerance. Jews from

1224-609: A flood in 1916, the depleted municipalities of Durgerdam, Holysloot, Zunderdorp and Schellingwoude , all lying north of Amsterdam, were, at their own request, annexed to the city. Between the wars, the city continued to expand, most notably to the west of the Jordaan district in the Frederik Hendrikbuurt and surrounding neighbourhoods. Nazi Germany invaded the Netherlands on 10 May 1940 and took control of

1377-477: A founding principle of Rabobank's cooperative style was to cooperate in the interest of "warding off the Shylock " . The cooperative bank model assured a tight bond between invested capital and the community. The bank's traditional headquarters are Utrecht and Eindhoven . In 1898, two cooperative bank conglomerates were formed: Raiffeisen-Bank was formed as a cooperative of six local banks, while Boerenleenbank

1530-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

1683-602: A full-service bank for Dutch merchant bankers and as a reserve bank. From the 17th century onwards, Amsterdam also became involved in the Atlantic slave trade . The city was a major destination port for Dutch slave ships participating in the triangular trade , which lasted until the United Netherlands abolished the Netherlands' involvement in the trade in 1814 at the request of the British government . Amsterdam

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1836-543: A further tightening of the bonds between the two: In 1972, the two organisations merged to form Coöperatieve Centrale Ra iffeisen- Bo erenleen bank , or Rabobank for short. The organisation chose Amsterdam to be its statutory headquarters due to its historical neutrality in relation to the founding organisations. From 1980 to 2015, the central organisation was referred to as Rabobank Nederland. In 1980, Rabobank expanded its international activities as part of its mission to finance global agriculture. In 1990, it established

1989-492: A granite grinding stone (2700–2750 BC), but the location of these artefacts around the river banks of the Amstel probably point to a presence of a modest semi-permanent or seasonal settlement. Until water issues were controlled, a permanent settlement would not have been possible, since the river mouth and the banks of the Amstel in this period in time were too wet for permanent habitation. The origins of Amsterdam are linked to

2142-437: A headquarters but preferred to speak of Rabobank Nederland, which was their daughter organisation. In 2016, however, the local banks merged with Rabobank Nederland, while retaining significant independence. Even before 2016, the central organisation occasionally overruled the autonomy of the local bank organisations. In accordance with Dutch regulations in the field of credit and financial services Rabobank Nederland oversees that

2295-680: A joint-venture bank in Indonesia by partnering with a local bank, Bank Duta, to form RabobankDuta. Bank Duta subsequently collapsed in the 1998 Asian financial crisis, and Rabobank bought Duta's share to operate solely as PT Bank Rabobank International Indonesia. In 1994, it purchased Primary Industry Bank of Australia (PIBA), which had operations in Australia and New Zealand, and renamed it Rabobank Australia Limited in 2003. In 1997, it purchased New Zealand–based Wrightson Farmers Finance Limited and renamed it Rabobank New Zealand in 1999. Rabobank became

2448-460: A lot of interest in the Netherlands at the end of the 19th century. One of the first of Raiffeisen's followers was Father Gerlacus van den Elsen, who stood at the basis of a number of local farmers' banks in the south of the Netherlands. The model caught on being championed by the clergy and the countryside elites . The mission of the farmers' lending banks was an idealistic one, but they always operated using strict business principles. Controversially,

2601-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

2754-411: A network of local banks, Rabobank Nederland and several daughter organisations. Previously, the local Rabobanks were the mother organisation of Rabobank Nederland, their central organisation. The local banks were facilitated by Rabobank Nederland to serve their customers, not the other way around as is often the case with traditional banking organisations. Employees of the group did not routinely speak of

2907-441: A new arrangement necessary. In late 2015, on the recommendation of a specially-created Governance Committee, Rabobank's 106 cooperative banks voted unanimously to merge with Rabobank Nederland. The merger took effect on 1 January 2016. While the 106 Rabobanks still have considerable autonomy, the central organisation is now the parent body. A 2013 scandal resulted in a $ 1 billion fine for unscrupulous trading practices, which included

3060-605: A number of hot and humid days with occasional rain every month. The average daily high in August is 22.1 °C (72 °F), and 30 °C (86 °F) or higher is only measured on average on 2.5 days, placing Amsterdam in AHS Heat Zone 2. The record extremes range from −19.7 °C (−3.5 °F) to 36.3 °C (97.3 °F). Days with more than 1 mm (0.04 in) of precipitation are common, on average 133 days per year. Amsterdam's average annual precipitation

3213-590: A population of 921,402 within the city proper, 1,457,018 in the urban area and 2,480,394 in the metropolitan area . Located in the Dutch province of North Holland , Amsterdam is colloquially referred to as the " Venice of the North ", for its large number of canals , now a UNESCO World Heritage Site . Amsterdam was founded at the mouth of the Amstel River, which was dammed to control flooding. Originally

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3366-465: A process of pillarisation (Dutch: verzuiling ), which in practice meant that members of different religious congregations and political movements essentially lived side by side, without contact between the two. A consequence of this pillarisation was that many villages hosted not one but two local banks, one each for Catholics and Protestants. The close-knit community banking that resulted helped these banks to better control their risks. Consequently, when

3519-459: A risk to ecosystems, including $ 30.9 million from Rabobank. The report highlights the importance of EU regulation of the financial sector to align financing with global 1.5°C and biodiversity targets. Rabobank has received criticism because the bank was involved in financing hundreds of farmers who committed illegal deforestation in Brazil. This is contrary to the official policy as communicated by

3672-662: A settlement with the United States Department of Justice for 298 million euros. The bank did not have its internal controls in order, resulting in hundreds of millions of dollars in drug money being laundered through the American Rabobank subsidiary RNA in California. The Bankrolling Ecosystem Destruction report from a coalition of civil society organizations shows how much money is flowing from EU-based financial institutions to sectors that pose

3825-601: A significant lender to the rural sector in New Zealand with this purchase and used this as a base to expand its lending business further. In Europe, Rabobank in 1992 purchased Allgemeine Deutsche Credit-Anstalt , a German bank. In 2002, Rabobank launched a new internet only savings bank called Rabobank.be . A second online savings banks was launched in 2005 in Ireland under the name of RaboDirect , and then as RaboPlus in New Zealand and two years later in Australia. After

3978-523: A small fishing village in the 12th century, Amsterdam became a major world port during the Dutch Golden Age of the 17th century, when the Netherlands was an economic powerhouse. Amsterdam was the leading centre for finance and trade, as well as a hub of secular art production. In the 19th and 20th centuries, the city expanded and new neighborhoods and suburbs were built. The city has a long tradition of openness, liberalism, and tolerance. Cycling

4131-410: A small hiatus new online banks were opened in Poland (2011) and Germany (2012). The advertising campaigns used to promote the savings business in Ireland and New Zealand raised the profile of Rabobank generally in those countries resulting in an increase in not only its savings business but also in its lending businesses. In 2010, Rabobank decided to use the same brand name in Australia and New Zealand for

4284-556: A strong influence on the 'Amsterdam dialect' adding a large Yiddish local vocabulary. Despite an absence of an official Jewish ghetto , most Jews preferred to live in the eastern part, which used to be the centre of medieval Amsterdam. The main street of this Jewish neighbourhood was Jodenbreestraat. The neighbourhood comprised the Waterlooplein and the Nieuwmarkt . Buildings in this neighbourhood fell into disrepair after

4437-711: A top tech hub in 2019. The Port of Amsterdam is the fifth largest in Europe. The KLM hub and Amsterdam's main airport, Schiphol , is the busiest airport in the Netherlands , third in Europe , and 11th in the world . The Dutch capital is one of the most multicultural cities in the world, with about 180 nationalities represented. Immigration and ethnic segregation in Amsterdam is a current issue. Amsterdam's notable residents throughout its history include painters Rembrandt and Vincent van Gogh , 17th-century philosophers Baruch Spinoza , John Locke , René Descartes , and

4590-495: A traditional board i.e., they are expected to look out for the specific interests of the members (local banks and their certificate holders). The Raad van Toezicht was renamed to county commission and now held an independent supervisory role. The chairman of this board also presides over the Centrale Kringvergadering . The latter is the most distinguishing organ as compared to other financial institutions in

4743-489: A very ambivalent relationship between the two over the years. At the time of the merger there were five management instruments within Rabobank Nederland: In 2002 this structure was simplified. The Raad van Beheer was disbanded. De Hoofddirectie received an integral authority over the banking business. It was also renamed to Raad van Bestuur or board of directors . They have an added task compared to

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4896-516: Is 838 mm (33 in). A large part of this precipitation falls as light rain or brief showers. Cloudy and damp days are common during the cooler months of October through March. In 1300, Amsterdam's population was around 1,000 people. While many towns in Holland experienced population decline during the 15th and 16th centuries, Amsterdam's population grew, mainly due to the rise of the profitable Baltic maritime trade especially in grain after

5049-649: Is considered its Golden Age , during which it became the wealthiest city in the Western world. Ships sailed from Amsterdam to the Baltic Sea , the Caribbean, North America, and Africa, as well as present-day Indonesia , India, Sri Lanka , and Brazil , forming the basis of a worldwide trading network. Amsterdam's merchants had the largest share in both the Dutch East India Company (VOC) and

5202-642: Is in the southwest. Amsterdam is connected to the North Sea through the long North Sea Canal . Amsterdam is intensely urbanised, as is the Amsterdam metropolitan area surrounding the city. Comprising 219.4 km (84.7 sq mi) of land, the city proper has 4,457 inhabitants per km and 2,275 houses per km . Parks and nature reserves make up 12% of Amsterdam's land area. Amsterdam has more than 100 km (60 mi) of canals , most of which are navigable by boat. The city's three main canals are

5355-717: Is key to the city's modern character, and there are numerous biking paths and lanes spread throughout. Amsterdam's main attractions include its historic canals ; the Rijksmuseum , the state museum with Dutch Golden Age art; the Van Gogh Museum ; the Dam Square , where the Royal Palace of Amsterdam and former city hall are located; the Amsterdam Museum ; Stedelijk Museum , with modern art;

5508-511: Is located in the Western Netherlands, in the province of North Holland , the capital of which is not Amsterdam, but rather Haarlem . The river Amstel ends in the city centre and connects to a large number of canals that eventually terminate in the IJ . Amsterdam's elevation is about −2 m (−6.6 ft) below sea level . The surrounding land is flat as it is formed of large polders . An artificial forest, Amsterdamse Bos ,

5661-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

5814-502: Is the third-largest retail bank by market share, and second largest by number of current accounts at 30%. ING Group is the largest with 40% of current accounts, followed by Rabobank (30%), ABN AMRO (20%), and others (10%). The Rabobank Group currently consists of the following divisions: RaboDirect , formerly RaboPlus in some locations is the brand name for online-only services offered by Rabobank. RaboDirect operates in Belgium,

5967-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

6120-684: The Concertgebouw concert hall; the Anne Frank House ; the Scheepvaartmuseum , the Natura Artis Magistra ; Hortus Botanicus , NEMO , the red-light district and cannabis coffee shops . The city is known for its nightlife and festival activity, with several nightclubs among the world's most famous. Its artistic heritage, canals and narrow canal houses with gabled façades , well-preserved legacies of

6273-627: The Concertgebouw were built; At the same time, the Industrial Revolution reached the city. The Amsterdam–Rhine Canal was dug to give Amsterdam a direct connection to the Rhine , and the North Sea Canal was dug to give the port a shorter connection to the North Sea . Both projects dramatically improved commerce with the rest of Europe and the world. In 1906, Joseph Conrad gave a brief description of Amsterdam as seen from

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6426-577: The Dutch East Indies in the 1940s and 1950s. In the 1960s guest workers from Turkey, Morocco, Italy, and Spain immigrated to Amsterdam. After the independence of Suriname in 1975, a large wave of Surinamese settled in Amsterdam, mostly in the Bijlmer area. Other immigrants, including refugees asylum seekers and undocumented immigrants , came from Europe, the Americas, Asia and Africa. In

6579-474: The Dutch Republic , which itself was a much smaller state than Great Britain, France or the Ottoman Empire . In contrast to those other metropolises, Amsterdam was also surrounded by large towns such as Leiden (about 67,000), Rotterdam (45,000), Haarlem (38,000) and Utrecht (30,000). The city's population declined in the early 19th century, dipping under 200,000 in 1820. By the second half of

6732-593: The Dutch West India Company . These companies acquired overseas possessions that later became Dutch colonies . Amsterdam was Europe's most important hub for the shipment of goods and was the leading financial centre of the Western world. In 1602, the Amsterdam office of the Dutch East India Company became the world's first stock exchange by trading in its own shares. The Bank of Amsterdam started operations in 1609, acting as

6885-688: The Edict of Fontainebleau in 1685, while the Flemish Protestants came during the Eighty Years' War against Catholic Spain. The Westphalians came to Amsterdam mostly for economic reasons; their influx continued through the 18th and 19th centuries. Before the Second World War, 10% of the city population was Jewish . Just twenty percent of them survived the Holocaust . Amsterdam experienced an influx of religions and cultures after

7038-664: The Iberian Peninsula , Protestant Huguenots from France, prosperous merchants and printers from Flanders , and economic and religious refugees from the Spanish-controlled parts of the Low Countries found safety in Amsterdam. The influx of Flemish printers and the city's intellectual tolerance made Amsterdam a centre for the European free press . During the 17th century, Amsterdam experienced what

7191-766: The North Sea to the west, with prevailing westerly winds. Amsterdam, as well as most of the North Holland province, lies in USDA Hardiness zone 8b. Frosts mainly occur during spells of easterly or northeasterly winds from the inner European continent. Even then, because Amsterdam is surrounded on three sides by large bodies of water, as well as having a significant heat-island effect , nights rarely fall below −5 °C (23 °F), while it could easily be −12 °C (10 °F) in Hilversum , 25 km (16 mi) southeast. Summers are moderately warm with

7344-792: The Prinsengracht , the Herengracht and the Keizersgracht . In the Middle Ages , Amsterdam was surrounded by a moat, called the Singel , which now forms the innermost ring in the city, and gives the city centre a horseshoe shape. The city is also served by a seaport . It has been compared with Venice , due to its division into about 90 islands, which are linked by more than 1,200 bridges. Amsterdam has an oceanic climate ( Köppen : Cfb ) strongly influenced by its proximity to

7497-644: The Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over the VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization ,

7650-497: The UNESCO World Heritage List . In the 21st century, the Amsterdam city centre has attracted large numbers of tourists: between 2012 and 2015, the annual number of visitors rose from 10 to 17 million. Real estate prices have surged, and local shops are making way for tourist-oriented ones, making the centre unaffordable for the city's inhabitants. These developments have evoked comparisons with Venice ,

7803-555: The count of Holland . A major turning point in the development of the Amstel river mouth was the All Saint's Flood of 1170 . In an extremely short period of time, the shallow river IJ turned into a wide estuary, which from then on offered the Amstel an open connection to the Zuiderzee , IJssel and waterways further afield. This made the water flow of the Amstel more active, so excess water could be drained better. With drier banks,

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7956-705: The history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include

8109-562: The social housing projects in Amsterdam-West and the Bijlmer. Today, people of non-Western origin make up approximately one-fifth of the population of Amsterdam, and more than 30% of the city's children. A slight majority of the residents of Amsterdam have at least one parent who was born outside the country. However, a much larger majority has at least one parent who was born inside the country (intercultural marriages are common in

8262-527: The 1970s and 1980s, many 'old' Amsterdammers moved to 'new' cities like Almere and Purmerend , prompted by the third Land-use planning bill of the Dutch Government. This bill promoted suburbanization and arranged for new developments in so-called "groeikernen", literally cores of growth . Young professionals and artists moved into neighborhoods De Pijp and the Jordaan abandoned by these Amsterdammers. The non-Western immigrants settled mostly in

8415-422: The 19th century, industrialization spurred renewed growth. Amsterdam's population hit an all-time high of 872,000 in 1959, before declining in the following decades due to government-sponsored suburbanisation to so-called groeikernen (growth centres) such as Purmerend and Almere . Between 1970 and 1980, Amsterdam experienced a sharp population decline, peaking at a net loss of 25,000 people in 1973. By 1985

8568-931: The Burgundian victory in the Dutch–Hanseatic War in 1441. The population of Amsterdam was only modest compared to the towns and cities of Flanders and Brabant , which comprised the most urbanized area of the Low Countries. This changed when, during the Dutch Revolt , many people from the Southern Netherlands fled to the North, especially after Antwerp fell to Spanish forces in 1585. Jews from Spain, Portugal and Eastern Europe similarly settled in Amsterdam, as did Germans and Scandinavians. In thirty years, Amsterdam's population more than doubled between 1585 and 1610. By 1600, its population

8721-422: The Dutch banking sector was devastated by a financial crisis in the early 1920s, these local banks survived largely unscathed. The religious backgrounds found their way to their organisational structures, as well; Boerenleenbank was highly centralised, while Raiffeisen-Bank promoted local autonomy . By 1940, the two organisations cooperated with each other, albeit on a limited scale. Three major developments caused

8874-496: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

9027-428: The European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in the 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from

9180-423: The Hanseatic League as middlemen. The city became the staple market of Europe for bulk cargo . This was made possible due to innovations in the herring fishery , from which Amsterdam reaped great wealth. Herring had demand in markets all around Europe. Inventions of on-board gibbing and the haringbuis in 1415, made longer voyages feasible, and hence enabled Dutch fishermen to follow the herring shoals far from

9333-410: The Holocaust victim and diarist Anne Frank . Due to its geographical location in what used to be wet peatland , the founding of Amsterdam is later than other urban centres in the Low Countries . However, around the area of what later became Amsterdam, farmers settled as early as three millennia ago. They lived along the prehistoric IJ river and upstream of its tributary Amstel. The prehistoric IJ

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9486-431: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

9639-596: The Japanese Financial Services Authority (JFSA). This is in connection with their investigations into Rabobank's submission procedures with regard to the London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate ( Euribor ) in the past. Rabobank agreed to pay settlement amounts to OM, FCA, CFTC and DOJ totalling approximately EUR 774 million. Of this, 70 million euros went to the Dutch Public Prosecution Service. In return, no criminal investigation followed. The Dutch Central Bank also took measures. CEO Piet Moerland resigned early. In February 2018, Rabobank reached

9792-455: The Mechanics name. Rabobank will continue to do business in North America related to Food and Agriculture based-lending under its subsidiary Rabo AgriFinance. In June 2012, rating agency Moody's downgraded Rabobank's to Aa2 (previously Aaa), with a negative outlook. Due to a new rating methodology in November 2011 by rating agency Standard & Poor's , the credit status was downgraded two steps from AAA to AA. In November 2014, S&P lowered

9945-410: The Netherlands and abroad. Rabobank is traditionally a farmers' bank and it still holds an 85% to 90% market share in the agrarian sector in the Netherlands. Throughout the years, the company has also started targeting small and medium-sized companies. By the mid 1970s the market share in this sector reached some 30% and currently amounts to approximately 40%. In 1987, an important milestone was reached;

10098-451: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

10251-459: The Netherlands. This led to the establishment of many non-Dutch-speaking churches. In 1603, the Jewish received permission to practice their religion in the city. In 1639, the first synagogue was consecrated. The Jews came to call the town " Jerusalem of the West ". As they became established in the city, other Christian denominations used converted Catholic chapels to conduct their own services. The oldest English-language church congregation in

10404-434: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

10557-446: The Republic of Ireland, Australia, New Zealand and Germany offering savings accounts , term deposits and managed funds . In Belgium it is known as Rabobank.be. RaboDirect Ireland was an online savings bank. In 2009, RaboDirect ran the marketing campaign that included TV commercials which featured staff confessing truths about themselves, and a microsite called Truthbank where customers could "confess" their own truths. RaboDirect

10710-407: The Second World War a large section of the neighbourhood was demolished during the construction of the metro system. This led to riots, and as a result the original plans for large-scale reconstruction were abandoned by the government. The neighbourhood was rebuilt with smaller-scale residence buildings on the basis of its original layout. Catholic churches in Amsterdam have been constructed since

10863-409: The Second World War. With 180 different nationalities, Amsterdam is home to one of the widest varieties of nationalities of any city in the world. The proportion of the population of immigrant origin in the city proper is about 50% and 88% of the population are Dutch citizens. The first mass immigration in the 20th century was by people from Indonesia, who came to Amsterdam after the independence of

11016-586: The Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for the world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902)

11169-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

11322-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

11475-604: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

11628-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

11781-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

11934-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

12087-477: The United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

12240-696: The United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for

12393-576: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

12546-401: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

12699-696: The acquisition of Mid-State Bank & Trust on May 1, 2007, which allows Rabo to expand its services to the Central Coast region of California , United States. In 2010, it also acquired Pacific State Bank, expanding into the Central Valley of California . Utrecht-America Holdings, Inc. and Rabobank N.A. operate as subsidiaries of the Rabobank Group in the United States. In 2019, it was announced that Rabobank sold its American retail business to Mechanics Bank , with all Rabobank branches taking

12852-481: The bank. Research links Rabobank's investments to the loss of approximately 390,000 ha of Amazon or Cerrado forest (2000–2022). Rabobank has been placed on the list of major polluters of the Dutch NGO Milieudefensie because the bank would have invested more than 1.4 billion euros in companies involved in deforestation in the period from 2015 to 2022. Rabobank states that it wants to contribute to

13005-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

13158-699: The city an important place of pilgrimage . During the heyday of the Stille Omgang , which became the expression of the pilgrimage after the Protestant Reformation , up to 90,000 pilgrims came to Amsterdam. From the 14th century on, Amsterdam flourished, largely from trade with the Hanseatic League . From the 15th century on the city established an independent trade route with the Baltic Sea in grain and timber, cutting out

13311-425: The city had only 675,570 residents. This was soon followed by reurbanization and gentrification , leading to renewed population growth in the 2010s. Also in the 2010s, much of Amsterdam's population growth was due to immigration to the city. In the 16th and 17th century, non-Dutch immigrants to Amsterdam were mostly Protestant Huguenots and Flemings , Sephardic Jews , and Westphalians . Huguenots came after

13464-496: The city's Zuidoost (southeast) exclave and the centre of Amsterdam. Further plans were to build a new highway above the metro to connect Amsterdam Centraal and the city centre with other parts of the city. The required large-scale demolitions began in Amsterdam's former Jewish neighborhood. Smaller streets, such as the Jodenbreestraat and Weesperstraat, were widened and almost all houses and buildings were demolished. At

13617-468: The city's 17th-century Golden Age, have attracted millions of visitors annually. The Amsterdam Stock Exchange , founded in 1602, is considered the oldest "modern" securities market stock exchange in the world. As the commercial capital of the Netherlands and one of the top financial centres in Europe, Amsterdam is considered an alpha world city . The city is the cultural capital of the Netherlands. Many large Dutch institutions have their headquarters in

13770-557: The city). Only a third of inhabitants under 15 are autochthons ( person with two parents of Dutch origin). In 2023, autochthons were a minority in 40% of Amsterdam's neighborhoods. Segregation along ethnic lines is clearly visible, with people of non-Western origin, considered a separate group by Statistics Netherlands , concentrating in specific neighborhoods especially in Nieuw-West , Zeeburg , Bijlmer and in certain areas of Amsterdam-Noord . In 2000, Christians formed

13923-484: The city. Many of the world's largest companies are based here or have established their European headquarters in the city, such as technology companies Uber , Netflix , and Tesla . In 2022, Amsterdam was ranked the ninth-best city to live in by the Economist Intelligence Unit and 12th on quality of living for environment and infrastructure by Mercer. The city was ranked 4th place globally as

14076-673: The city. During the French Revolutionary Wars and the Napoleonic Wars , Amsterdam's significance reached its lowest point, with Holland being absorbed into the French Empire . However, the later establishment of the United Kingdom of the Netherlands in 1815 marked a turning point. The end of the 19th century is sometimes called Amsterdam's second Golden Age. New museums, a railway station, and

14229-439: The coasts, giving them a monopoly in the industry. The herring industry relied on international trade cooperation and large initial investments in ships. This required many highly skilled and unskilled workers cooperating, as well as the import of the necessary raw materials to turn an unfinished product into a marketable one. This required merchants to then sell it throughout the continent and book-keepers and accountants to divide

14382-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

14535-717: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

14688-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

14841-527: The country. Some Amsterdam citizens sheltered Jews, thereby exposing themselves and their families to a high risk of being imprisoned or sent to concentration camps. More than 100,000 Dutch Jews were deported to Nazi concentration camps , of whom some 60,000 lived in Amsterdam. In response, the Dutch Communist Party organized the February strike attended by 300,000 people to protest against

14994-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

15147-648: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Amsterdam Amsterdam ( / ˈ æ m s t ər d æ m / AM -stər-dam , UK also / ˌ æ m s t ər ˈ d æ m / AM -stər- DAM , Dutch: [ˌɑmstərˈdɑm] ; lit.   ' Dam in the Amstel ' ) is the capital and most populated city of the Netherlands . It has

15300-484: The development of a dam on the Amstel River called Amestelle , meaning 'watery area', from Aa(m) 'river' + stelle 'site at a shoreline', 'river bank'. In this area, land reclamation started as early as the late 10th century. Amestelle was located along a side arm of the IJ. This side arm took the name from the eponymous land: Amstel. Amestelle was inhabited by farmers, who lived more inland and more upstream, where

15453-417: The downstream Amstel mouth became attractive for permanent habitation. Moreover, the river had grown from an insignificant peat stream into a junction of international waterways. A settlement was built here immediately after the landscape change of 1170. Right from the start of its foundation it focused on traffic, production and trade; not on farming, as opposed to how communities had lived further upstream for

15606-521: The entire city centre. Although the success of this struggle is visible today, efforts for further restoration are still ongoing. The entire city centre has reattained its former splendour and, as a whole, is now a protected area . Many of its buildings have become monuments, and in July 2010 the Grachtengordel (the three concentric canals: Herengracht, Keizersgracht, and Prinsengracht) was added to

15759-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

15912-817: The first two participants, settling for $ 460 million and $ 1,500 million respectively. RBS was fined $ 612 million. On 29 october 2013 was published that the Rabobank had reached an agreement with De Nederlandsche Bank (DNB), the Dutch Justice Department (OM), the Financial Conduct Authority (FCA) in the United Kingdom, the Commodity Futures Trading Commission (CFTC) in the United States, the United States Department of Justice (DOJ) and

16065-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

16218-551: The inhabitants of the village to travel freely through the County of Holland , paying no tolls at bridges, locks and dams. This was a move in a years-long struggle for power in the area between the count of Holland and the Amstel family who governed the area on behalf of the bishop of Utrecht. By 1327, the name had developed into Aemsterdam . The bishop of Utrecht granted Amsterdam zone rights in either 1300 or 1306. The Mirakel van Amsterdam  [ nl ] in 1345 rendered

16371-598: The interest on short-term loans that they charge each other. This concerns short-term interest periods from 1 day to 1 year. When it emerged that some banks had deliberately stated this interest rate too high or too low since 1991, the Libor scandal was born. Because the Libor interest rate is also used in the United States to calculate the price of derivatives, American regulators also took action. Barclays and UBS were

16524-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

16677-426: The land was not as wet as at the banks of the downstream river mouth. These farmers were starting the reclamation around upstream Ouderkerk aan de Amstel , and later at the other side of the river at Amstelveen . The Van Amstel family , known in documents by this name since 1019, held the stewardship in this northwestern nook of the ecclesiastical district of the bishop of Utrecht . The family later served also under

16830-522: The largely Catholic city of Amsterdam joined the revolt against Spanish rule, late in comparison to other major northern Dutch cities. Catholic priests were driven out of the city. Following the Dutch takeover, all churches were converted to Protestant worship. Calvinism was declared the main religion. It was forbidden to openly profess Roman Catholicism and the Catholic hierarchy was prohibited until

16983-549: The largest religious group in the city (28% of the population). The next largest religion was Islam (8%), most of whose followers were Sunni . In 2015, Christians formed the largest religious group in the city (28% of the population). The next largest religion was Islam (7.1%), most of whose followers were Sunni . Amsterdam has been one of the municipalities in the Netherlands which provided immigrants with extensive and free Dutch-language courses, which have benefited many immigrants. Religion in Amsterdam (2015) In 1578,

17136-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

17289-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

17442-441: The local banks maintain a required level of prudence and professionalism while selling financial products. This has grown to be especially important in view of international standards such as Sarbanes–Oxley Act , Basel II and IFRS . This leads to a rather unusual phenomenon within international business: the mother companies and the much larger daughter are essentially forced to coexist in order to function properly. This has led to

17595-403: The manipulation of LIBOR currency rates worldwide. Chief Executive Piet Moerland resigned immediately as a result. In December 2015, Rabobank announced to cut 9,000 jobs by 2018 (3,000 jobs by the end of 2016) and almost a fifth of its current workforce. The policy was to comply with the tougher Basel IV rulebook. By 2019, Rabobank had offices in 38 countries. The Rabobank Group consists of

17748-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

17901-480: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

18054-443: The mid-19th century . This led to the establishment of clandestine churches , covert religious buildings hidden in pre-existing buildings. Catholics, some Jews and dissenting Protestants worshipped in such buildings. A large influx of foreigners of many religions came to 17th-century Amsterdam, in particular Sefardic Jews from Spain and Portugal, Huguenots from France, Lutherans , Mennonites , as well as Protestants from across

18207-616: The negative consequences of mass livestock farming and economies of scale. Extinction Rebellion and Greenpeace issued an ultimatum to Rabobank in 2023 to stop financing industrial agriculture, to which the bank did not respond. A mass protest followed in which activists blocked the head office in Utrecht. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with

18360-472: The nitrogen crisis. The bank refused loans to projects with alternative agricultural methods, which led to forced expansion of Dutch livestock farms. Only about 3% of the outstanding 30 billion in the agricultural sector belongs to organically operating companies, farmers receive little or no support in the transition to more sustainable agriculture and livestock farming. Rabobank still invests in expensive techniques, not in solving but in technically mitigating

18513-437: The past 200 years and northward for thousands of years. The construction of a dam at the mouth of the Amstel, eponymously named Dam , is historically estimated to have occurred between 1264 and 1275. The settlement first appeared in a document from 1275, concerning a road toll granted by the count of Holland Floris V to the residents apud Amestelledamme 'at the dam in the Amstel' or 'at the dam of Amstelland'. This allowed

18666-592: The peak of the demolition, the Nieuwmarktrellen ( Nieuwmarkt riots ) broke out; the rioters expressed their fury about the demolition caused by the restructuring of the city. As a result, the demolition was stopped and the highway into the city's centre was never fully built; only the metro was completed. Only a few streets remained widened. The new city hall was built on the almost completely demolished Waterlooplein. Meanwhile, large private organizations, such as Stadsherstel Amsterdam , were founded to restore

18819-551: The positive publicity from Rabobank, there is criticism from society about its role in the Dutch nitrogen crisis. For example, the World Wildlife Fund (NL) wrote in an open letter that Rabobank must take its responsibility in realizing an agricultural transition to improve nature, the living environment and the agricultural sector. The House of Representatives asked the cabinet in a motion to investigate whether banks such as Rabobank could be forced to contribute to solving

18972-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

19125-470: The primary international focus of the Rabobank Group. Rabobank is the second-largest bank in the Netherlands in terms of total assets. In terms of Tier 1 capital , the organisation is among the 50 largest financial institutions in the world. As of 2022, total assets amount to €628 billion with a net profit of €2.7 billion. Rabobank has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as

19278-490: The profit. In short, the herring industry was setting up the foundations for what would later become the transcontinental trade system and the Dutch Golden Age , with Amsterdam at its centre, hence the saying "Amsterdam is built on Herring bones". The Low Countries were part of the Hapsburg inheritance and came under the Spanish monarchy in the early sixteenth century. The Dutch rebelled against Philip II of Spain , who led

19431-532: The raids. The most famous deportee was the young Jewish girl Anne Frank , who died in the Bergen-Belsen concentration camp . At the end of the Second World War, communication with the rest of the country broke down, and food and fuel became scarce. Many citizens traveled to the countryside to forage. Dogs, cats, raw sugar beets , and tulip bulbs—cooked to a pulp—were consumed to stay alive. Many trees in Amsterdam were cut down for fuel, and wood

19584-436: The rating from AA− to A+ with a negative outlook. Rating agency Fitch rates the credit status of the bank AA−, with a negative outlook. As per the new strategy, Rabobank is planning to exit some markets. In September 2014, Rabobank sold Bank BGZ to BNP Paribas for $ 1.39 billion. Unlike most major banks, Rabobank's central organisation was originally a subsidiary of the local branches. However, new banking regulations made

19737-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

19890-661: The restoration of the episcopal hierarchy in 1853. One of the principal architects behind the city's Catholic churches, Cuypers , was also responsible for the Amsterdam Centraal station and the Rijksmuseum . In 1924, the Catholic Church hosted the International Eucharistic Congress in Amsterdam; numerous Catholic prelates visited the city, where festivities were held in churches and stadiums. Catholic processions on

20043-413: The savings bank and replaced RaboPlus with RaboDirect in these countries. In 2014, Rabobank worked with Vasco, now OneSpan , to create a new online authentication system using QR codes. Rabobank purchased Australian company Lend Lease Agro Business in 2003. In 2008, it expanded its operations in Indonesia by buying two retail banks, Bank Haga and Bank Hagakita. In the United States , Rabobank completed

20196-738: The seaside, in The Mirror of the Sea . Shortly before the First World War , the city started to expand again, and new suburbs were built. Even though the Netherlands remained neutral in this war, Amsterdam suffered a food shortage, and heating fuel became scarce. The shortages sparked riots in which several people were killed. These riots are known as the Aardappeloproer (Potato rebellion). People started looting stores and warehouses to get supplies, mainly food. On 1 January 1921, after

20349-582: The second half of the 17th century, Amsterdam experienced an influx of Ashkenazim , Jews from Central and Eastern Europe . Jews often fled the pogroms in those areas. The first Ashkenazis who arrived in Amsterdam were refugees from the Khmelnytsky uprising occurring in Ukraine and the Thirty Years' War , which devastated much of Central Europe. They not only founded their own synagogues, but had

20502-462: The seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and the international oil market. Iran was unable to sell any of its oil. In August 1953,

20655-491: The sustainable development of society in an economic, social and ecological sense. This is enshrined, among other things, in the Code of Conduct and in general external and internal principles for the provision of services. Corporate social responsibility is a basic principle in Rabobank's core activities. Rabobank continues to finance global meat and dairy corporations and thus drives climate change and deforestation. In contrast to

20808-459: The then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by the strong influence of

20961-416: The total outstanding loans in sectors other than agriculture exceeded those in the agricultural sector for the first time. By 2005 the agricultural credits amounted to some 8% of total outstanding credit. Rabobank also holds some 40% of the total outstanding sums on Dutch savings accounts and they account for approximately 30% of all private consumer mortgages in the Netherlands. In the Netherlands, Rabobank

21114-420: The war and other events of the 20th century, almost the entire city centre had fallen into disrepair. As society was changing, politicians and other influential figures made plans to redesign large parts of it. There was an increasing demand for office buildings, and also for new roads, as the automobile became available to most people. A metro started operating in 1977 between the new suburb of Bijlmermeer in

21267-770: The world outside the United Kingdom is found at the Begijnhof . Regular services there are still offered in English under the auspices of the Church of Scotland . Being Calvinists, the Huguenots soon integrated into the Dutch Reformed Church , though often retaining their own congregations. Some, commonly referred to by the moniker 'Walloon', are recognizable today as they offer occasional services in French. In

21420-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

21573-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

21726-479: Was a cooperative of 22 local banks. These two existed side by side for three-quarters of a century despite their obvious similarities. The reasons for this owed in part to legal disagreements. The most important difference, however, was cultural. The Eindhoven-based Boerenleenbank had a decidedly Catholic signature while the Raiffeisen-Bank had a Protestant background. In the past the Netherlands underwent

21879-526: Was a shallow and quiet stream in peatland behind beach ridges . This secluded area was able to grow into an important local settlement centre, especially in the late Bronze Age , the Iron Age and the Roman Age . Neolithic and Roman artefacts have also been found in the prehistoric Amstel bedding under Amsterdam's Damrak and Rokin , such as shards of Bell Beaker culture pottery (2200–2000 BC) and

22032-545: Was also a member of the Society of Suriname , an organisation founded to oversee the management of the Dutch colony of Surinam , which was economically dependent on slave plantations . On 1 July 2021, the mayor of Amsterdam , Femke Halsema , apologised for the city's involvement in the slave trade. Amsterdam's prosperity declined during the 18th and early 19th centuries. The wars of the Dutch Republic with England (latterly, Great Britain ) and France took their toll on

22185-424: Was around 50,000. During the 1660s, Amsterdam's population reached 200,000. The city's growth levelled off and the population stabilized around 240,000 for most of the 18th century. In 1750, Amsterdam was the fourth largest city in Western Europe , behind London (676,000), Paris (560,000) and Naples (324,000). This was all the more remarkable as Amsterdam was neither the capital city nor the seat of government of

22338-502: Was completed in 2018. Since 2014, renewed focus has been given to urban regeneration and renewal, especially in areas directly bordering the city centre, such as Frederik Hendrikbuurt . This urban renewal and expansion of the traditional centre of the city—with the construction on artificial islands of the new eastern IJburg neighbourhood—is part of the Structural Vision Amsterdam 2040 initiative. Amsterdam

22491-517: Was confronted with the abject poverty of the farmers and their families. He tried to alleviate this need through charitable aid , but realised that self-reliance had more potential in the long run, and thus converted his charitable foundation into a farmers' bank in 1864. In doing so he created the Darlehnskassen-Verein , which collected the savings of countryside dwellers and provided enterprising farmers with loans. This model found

22644-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

22797-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

22950-649: Was launched in February 2006 and was at the time only bank in New Zealand whose parent company was rated AAA by Standard & Poor's (the credit rating has since been downgraded and as of October 2015 is A). On 23 May 2007, Rabobank opened a RaboPlus Internet bank in Australia. On 20 May 2010, the services were rebranded to RaboDirect. RaboDirect is the major partner of the Melbourne Rebels Super Rugby side. By 2011 over $ 6 billion had been gathered in deposits. On 20 June 2012, Rabobank opened

23103-501: Was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore,

23256-512: Was taken from the houses, apartments and other buildings of deported Jews. The city was finally liberated by Canadian forces on 5 May 1945, shortly before the end of the war in Europe. Many new suburbs, such as Osdorp , Slotervaart , Slotermeer and Geuzenveld , were built in the years after the Second World War. These suburbs contained many public parks and wide-open spaces, and the new buildings provided improved housing conditions with larger and brighter rooms, gardens, and balconies. Because of

23409-540: Was the sponsor of rugby union 's Pro12 from the 2011-12 season until 2013–14 , it featured teams from Ireland, Italy, Scotland and Wales. The deal was announced in June 2011, during which time the league was known as the RaboDirect Pro12. On 21 February RaboDirect announced that it would be closing down its Irish operations from 16 May 2018, with the loss of 31 jobs. RaboDirect, originally known as RaboPlus,

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