Two of the biggest space companies in the Grand Duchy have come together on a Safety at Sea project to help make the seas safer. Satellite companies Kleos Space and Spire Global will jointly create a service that will detect sea vessels operating illegally. The collaboration is expected to be live before the end of 2019 and will use data obtained by Kleos’ satellites to track vessels, whilst Spire will be able to produce images of them using its satellites. The companies will then be able to share the information with governments, maritime agencies and other bodies who need to detect illegal vessels. “The collaboration between Kleos and Spire will provide unprecedented detection of dark vessels,” Andy Bowyer, Kleos’ CEO, said. “The Safety at Sea collaboration will provide an effective tool for governments, maritime agencies and other organisations with an …
If you have just arrived in Luxembourg or if you intend to come into the country in the near future, one of your first steps will be to open a bank account. But which bank to choose? Is it possible to open a bank account before your arrival? Here are some tips that will help you deal with a range of financial challenges you might face.
The Association of the Luxembourg Fund Industry (ALFI) has four new executive committee members. Corinne Lamesch was appointed as the ALFI chairperson. She has 20 years of experience in the Luxembourg fund industry. She has been on the ALFI board since 2017 and co-chairs the Management Company Technical Committee. Michael Ferguson, appointed vice-chairman, is the EY Luxembourg Wealth & Asset Management practice leader and the EY EMEIA Wealth & Asset Management Audit Leader. He has an experience of more than 30 years in the investment fund industry in Luxembourg, Ireland, UK and the US. Maria Löwenbrück, appointed vice-chairwoman, has been working in the financial industry in Luxembourg for more than 25 years. She joined Union Investment in June 2000 and is currently managing director and board member of Union Investment Luxembourg S.A. Patrick Stampfli, ALFI treasurer, has over 30 years …
Demand for office space is booming, with Luxembourg’s economy being driven forward largely by international companies’ need to hire staff. Rents are at record levels as demand outstrips supply. However, the delivery of space at the Cloche d’Or is keeping the market in check. Take-up in office space increased by 16% last year. Nearly a quarter of a million square meters was newly rented, the second highest amount on record. Vacancy rates (the percentage of empty rental property) have fallen substantially over the last couple of years, and are approaching record, pre-crisis levels. This is because national employment has been increasing by 3.3% per year on average over the last five years, being closer to 4% recently.
When he launched his company IT MOVES IT in 2011, Pascal Wiscour-Conter did not realize that he would end up combining traditional consulting services with a revolutionary approach based on storytelling. Adapting narrative tools and strategies from movies and TV shows, he started to offer business development models that foster an immersive connection between a brand and its audience. The idea of Corporate Storytelling was born and creativity was both the premise and the key to his company’s success.
Historically, Private Equity firms have put the relationships and the human connections at the heart of their deal sourcing. Partners and deal teams were continuously asked to expend their network to identify new opportunities of investments. The ongoing creation of data everyday combined with the new technologies to use this data is currently disrupting the way Private Equity firms source their deals. Just like in the public markets 20 years ago where we have seen hedge funds building their trading strategies on algorithms, Private Equity firms will most probably have no other option than using Big Data and analytics to drive investment decisions and generate competitive returns for their investors. While this view has already been endorsed by a few firms (especially in the Venture Capital area), it will take some time to become the norm in this industry.
Compared to May, the annual inflation rate has fallen over the course of June, predominantly due to the fall in fuel prices. From May to June, fuel prices dropped by 4.5%, which has in turn had an effect on the general annual inflation rate. Compared to the previous month, the cost of diesel dropped by 5%, petrol prices fell by 4.3%, and the cost of heating oil fell by 9.6%. Aside from fuel products, prices in June experienced a slight increase of 0.19% in June.
Estonia is entrusting terabytes of information on its citizens to an ally in the hope of improving the security of its crucial government systems. Decades of political stability and prosperity have made the tiny European nation of Luxembourg a trusted destination for the storage of sensitive data.
Job numbers in the specialist activities and support services areas jumped 5.6%, while those in construction rose 4.3% during the first quarter of 2019. The two sectors make up over a quarter of the entire workforce and, during the first quarter, accounted for 36% of net job creation, a report published by Statec on Tuesday found.
The Grand Duchy of Luxembourg and the United States of America signed a memorandum of understanding (MoU) that will serve to catalyze and significantly deepen cooperation between the two countries in the field of space. Étienne Schneider, Luxembourg’s Deputy Prime Minister and Minister of the Economy, signed the MoU for the Grand Duchy. Wilbur Ross, U.S. Secretary of Commerce, signed for the United States.