On 4 February 2020, Franz Fayot joined the Luxembourg Government. He was appointed Minister of the Economy and Minister for Development Cooperation and Humanitarian Affairs. The Prime Minister, Minister of State, Xavier Bettel announced that H.R.H. the Grand Duke had honourably discharged Mr Fayot’s predecessor, the previous Deputy Prime Minister, Minister of the Economy and Minister of Health Étienne Schneider, upon his own request. After being sworn in, Franz Fayot officially took up his duties at the Ministry of the Economy. During a handover ceremony in the presence of all the employees of the Ministry of the Economy, the responsibilities previously discharged by Étienne Schneider were handed over to Franz Fayot.
The rate of companies in Luxembourg that were freshly formed was just about the EU27 average, but they employed relatively fewer people, according to data released this week. “In 2017, the number of new enterprise births in the European Union as a proportion of the total number of active EU enterprises stood at 9.3%,” Eurostat reported. The figure for Luxembourg was 9.2%. The EU countries with the highest “enterprise birth rate” were Lithuania (19.7%), Portugal (15.8%) and Slovakia (13.7%). The lowest proportions were recorded in Sweden (6.6%), Belgium (6.4%) and Greece (4.5%). Eurostat stated: “The employment generated by these newly created enterprises stood at 2.4% of total employment in the EU in 2017, ranging from 5.2% in Portugal to 1.2% in Germany and the Netherlands.” The job creation figure for Luxembourg, 1.7%, was below the EU average. Companies formed that …
Luxembourg has been named one of the “Top 10 small European cities of the future” and “Top 25 European regions of the future” by a well-known trade publication. FDI Magazine rated Luxembourg 24th on its overall “European regions of the future 2020/21” list, between the 23rd placed Berlin region and Ireland’s Southwest region, which includes Cork and was ranked 25th. The Paris region, Dublin region and the German state of North Rhine-Westphalia, which includes Cologne and Düsseldorf, respectively took first, second and third place. Luxembourg was 9th in the “Top 10 small European cities of the future 2020/21” list, scoring 1st place in the “economic potential” sub-ranking (although it did not figure among the top 10 for the “human capital/lifestyle” and “cost effectiveness” subcategories). British, Finnish and Swiss cities did well on the small European cities lists. The grand duchy …
From how to fill out your tax form to spotting a scenic running route: a new Luxembourg Times guide deals with every imaginable such issue – whether you are new to the country or have lived here for decades. The LT Expat Hub groups together hundreds of stories that were previously scattered around the website, including many that are new – all produced by Sarita Rao, well-known from her L-Word column. "As an expat, I arrived six years ago with no idea about the basic things like finding a place to rent, registering with a doctor, or where I could entertain my kids," said Rao, a freelance contributor. "I was inspired to write about these things because I too want to become a more permanent and integral part of Luxembourg, not a partisan watching from the wings," she said. The …
Cisco’s Digital Readiness Index 2019 assesses a country’s readiness by examining seven standardised components and summarising the overall score. Luxembourg is ranked 2nd, after Singapore but ahead of leading digital nations such as the United States, Denmark, Sweden and South Korea. HOLISTIC UNDERSTANDING “The Cisco Global Digital Readiness Index has been created to help nations understand how well-positioned they are to take advantage of the benefits of digitisation,” the company states. “A holistic view of digital readiness was taken, examining multiple factors that indicate the progress that a nation has made towards digital maturity, and demonstrating areas of strength while providing guidance as to how they can invest to improve their overall readiness.” LEADING START-UP ENVIRONMENT Luxembourg performs particularly well in the component Start-Up Environment, where it ranks 1st in the world. The country ranks 3rd in the category Technology …
Luxembourg Minister of Defence François Bausch met with Wilbur Ross, US Secretary of Commerce to discuss cooperation in the field of space, including the efficient and sustainable management of satellite traffic and space debris. On 14 January 2020, Deputy Prime Minister, Minister of Defence, François Bausch and John Rood, US Under Secretary of Defence for Policy, met on a long-planned productive working visit. Together with Minister Delegate, Henri Kox, the various areas of bilateral collaboration were discussed, including the peaceful collaboration in space and cyber defence. Minister Bausch emphasised the importance of partners such as the United States regarding defence. During this meeting, François Bausch signed the Terms of Reference for the Space Cooperation Working Group and a Memorandum of Understanding for Cooperation in Safety of Spaceflight and the Provision of Space Situational Awareness Services and Information.). In this context, …
The number of resident jobseekers in Luxembourg has risen steadily over the past year while non-resident jobseeker numbers fell, according to Adem figures. In its report published on 20 January, Luxembourg job centre Adem noted that resident jobseekers totalled 16,532 in December 2019, marking an 8.9% (1,346) rise over one year. Non-resident jobseeker numbers meanwhile fell by 254, a decline equivalent to -9.6% compared with December 2018.
Luxembourg consul Stan Myck, usually based at the embassy in Washington, guested NPR show Lake Effect this week. Given the Battle of the Bulge commemorations last month, Myck explained in some detail the impact of the brutal battle not just on Luxembourg, but of course the war more broadly. The consul also explained that the relationship between Luxembourg and the US goes back to before the wars; notably the food crisis in the 19th century, which drove many to move across to the US among other places. "We something like 100,000 Luxembourgers who left form 1850 to 1880 who left Luxembourg, who came over here. Wisconsin, Illinois," said Myck. America loves Luxembourg: or at least our food and drinks, as Bofferding and Moutarderie de Luxembourg make waves in Midwest Myck also said he was proud to see the link the …
Consumer confidence in Luxembourg slipped last month, but households were more positive about their personal balance sheets and spending plans for 2020. The Luxembourg Central Bank (BCL) said its monthly consumer confidence indicator dropped from -2 in November 2019 to -3 in December 2019. (The figure was -1 in both December 2018 and December 2017). The score represents the “difference between the percentages of respondents giving positive and negative replies” in its monthly polls. According to the BCL, the indicator’s four underlying components “evolved in contrasting ways”. Namely: The score for “consumers’ expectations of the general economic situation in Luxembourg” slumped from 0 in November 2019 to -6 in December 2019. (It was 8 in December 2018 and 4 in December 2017.) The gauge of households’ “perception of their financial situation over the past 12 months” increased from -2 in …
2020 is not just another year. From new chiefs to important anniversaries, trade fairs and leisure activities, there are plenty of reasons to be hopeful. Delano brings offers this snapshot of what's to come. .