Good news for commuters! France and Luxembourg have rectified the debated tax deal. French cross-border workers will not be taxed in both countries. The disputed tax treaty been Luxembourg and France has finally been amended. The new convention will eliminate the risk of double taxation and grant commuters 29 days of teleworking a year. The new treaty was signed on Thursday morning by Luxembourg's Minister for Finances Pierre Gramegna and his French counterpart Bruno le Maire. The imputation system will be abandoned. This system had cross-border workers increasingly worried as it would have allowed France to claim the difference between the taxes paid in Luxembourg and the ones they would need to pay in France. In other words, double-taxation has effectively been scrapped. Instead, cross-border workers Luxembourg reverts back to the previous system of “exemption with progression.” Gramegna stressed that …
The LSAP candidate to be the next Luxembourg commissioner, Nicolas Schmit, was centre stage at the European Parliament in Strasbourg on Tuesday morning as he faced questions from MEPs. Speaking in English and French Schmit, who served as labour minister from 2009 to 2018, said in his opening statement that “the strength of the European model is to reconcile economic and social issues and to fully incorporate the environmental dimension.” He said he wanted to boost employment and to promote a well-skilled workforce to respond to the challenges of digital and climate transition. Schmit also pledged to put social rights for all and social inclusion at the centre of his priorities. Schmit then replied to questions including one from Brexit party MEP Matthew Patten who charged that “when it comes to jobs, the European Commission is institutionally racist.” Schmit responded …
When SES was founded in 1985 as Société Européenne des Satellites, its impact on the future of the space and telecommunication sectors could not be measured; ever since its first satellite was launched in December 1988, the company’s growth went hand in hand with innovation and the ambition to establish a network of high-speed internet access around the globe. Today, SES is operating a fleet of 70 satellites. Broadcasting some 8,200 television and radio channels to over 355 million households, SES is the leading satellite operator in the world.
Civil Maps started in 2013 with a specific objective: finding a way to avoid head-on collisions between trains caused by challenging weather or human error. “In the United States, the authorities passed the Positive Train Control Enforcement and Implementation Act of 2015, mandating the ability to monitor all trains and know where each one was at any given moment,” says CEO Stefan Safko. “They had already collected large amounts of data but did not know how to transform it into useful information. We took their raw data and developed a method to create high-definition maps that allowed us to localise the trains and enable asset management.” FINGERPRINT BASE MAP™ TECHNOLOGY A meeting with the board of directors of one of the large US automotive manufacturers two years later encouraged the young company to look into applying its technology for localising …
Luxembourg is to get its first dedicated hydrogen refueling station within the next two years, but the government is pinning most of its hopes on wind and solar for cleaning up the energy sector.
“Big Four” auditing firm PwC’s Luxembourg branch will accept cryptocurrency payments from clients starting next month. The move, announced Monday, is a response to client demand and demonstrates PwC Luxembourg’s belief in blockchain technology’s “medium to long-term” role in the economy, the firm said. PwC Luxembourg said it partnered with a local exchange to facilitate the payments. It did not identify the exchange or say which coins it will accept. Taking crypto may help PwC serve its blockchain clients, by providing day-to-day insight into “AML/KYC-enhanced due diligence… public/private keys… and risks of custodial solutions,” said the Luxembourg office’s director of blockchain and crypto-assets, Thomas Campione, in a statement. PwC has been working with cryptocurrencies since 2014. Four hundred of its 250,000 worldwide employees work on “crypto-topics,” supported by a 100-member technical team devoted to blockchain. The firm’s Hong Kong office …
Lendable, a London-based fintech lender, has started its first Luxembourg-based fund, according to trade press reports. Credit Suisse will provide up to £225m in financing for the fund, Financial News reported on 21 August. “The fund, aimed at professional investors, will primarily invest in consumer loans originated by Lendable” in the UK, wrote Altfi. Lendable hopes to lend £150m “by early next year” year and £350m by the end of 2020, Altfi reported. The fund is open to Mifid professional investors, Rory McHugh, Lendable’s chief capital officer, stated on his Linkedin page. Altfi said the minimum investment was £2m. According to the business information site Crunchbase, Lendable has raised £1bn in funding, including £200bn in its latest round, its fifth, which was led by Goldman Sachs Private Capital. Lendable was founded in 2014 as a peer-to-peer lending platform.
"Everything is more expensive today, "prices have increased tenfold" - we've all heard statements along those lines, but is it true? According to data compiled by Statec spanning the years 2000-2019, prices have indeed gone up for a majority of products in the Grand Duchy. Naturally, the baskets of goods that Statec keeps an eye on includes far from everything available on the market. As is customary, they have focused on products that are commonly bought by households across the country, such as bread, milk, eggs, coffee, sugar, and so on. Bread is one of the products that have experienced a particularly noticeable price increase - from €1.1 in 2000, to €2.4 in 2019 (per 500g). The price of potatoes, meanwhile, has nearly tripled - from €3.6 to €9.1 for 5kg. Other products that have seen a significant price increase …