Domino's Pizza plans an ambitious entry into Luxembourg market. Well-known American pizza restaurant chain Domino's has just revealed plans for its first outlets in Luxembourg. With a presence already in 28 European countries, Domino's will add the Grand Duchy as part of its expansion. Talking to Luxembourg Times, Marianne Kemps, Domino's Netherlands and Belgium PR Manager, stated, "our ambition is to open the first store in early 2019". Domino's doesn't just plan one or two outlets though. "We plan to open between 10 and 15 stores in Luxembourg," confirmed Kemps, before adding "however, we are still at a very early stage". The PR Manager was therefore unable to state where possible restaurant locations in Luxembourg could be. This information reinforces details published by the website Media Marketing where Domino's Benelux CEO Misja Vroom is quoted as saying, "we see an …
Percentage of working women increases but share of men in employment goes down. The percentage of people in part-time jobs in Luxembourg has increased by almost 8% over the past 15 years, bringing the share above the European Union average. According to the EU's statistics office, Eurostat, it has become harder to find a permanent job across the bloc since 2002 as the share of temporary employees has increased. In Luxembourg the percentage of part-time employment grew from 11.6% to 19.4% during that period and temporary employment went up from 3.7% to 8.5% – almost 5% below the EU average. And while the share of working women has seen a steady increase over the past decade and a half, the share of men in employment has decreased from 81.2%, which was above the EU average, in 2002 to 75.4% – …
On 22 December 2017, President Trump signed into law H.R. 1, originally known as the Tax Cuts and Jobs Act. The US tax reform makes fundamental changes to the taxation of multinational entities. As we have discussed the deemed repatriation and related one-time transition tax previously, in this article we focus on another aspect of the US tax reform — the new minimum tax on global intangible low taxed income (GILTI). GILTI is also nicknamed the ‘stick’ by opposition to the ‘carrot’, namely the foreign derived intangible income (FDII) regime (1). The impact of GILTI on Luxembourg is expected to be significant as a large number of US multinationals have subsidiaries in the country. Background Generally speaking, GILTI is aimed at discouraging erosion of the US tax base by moving or retaining valuable intangibles outside of the US tax net …
Inflation rate triggers indexation, wages, pensions to increase from August. Luxembourg's annual inflation rate rose to 1.5% in July, triggering an automatic increase in wages and pensions. Month-on-month, the national consumer price index declined by 0.7%, according the Luxembourg's national statistics bureau Statec. The monthly drop from June was driven by the summer retail sales, such as a 14% price decline in the price of clothing and footwear. However, stripping out sales and petrol products, prices for other goods and services rose by 0.3%. Holiday prices were up by 7.2%, while the costs of flights increased by 21.5% compared with June as the summer holidays enter full swing. As a result of the July inflation numbers, workers in Luxembourg will see their wages increase by 2.5% due to indexation – which keeps earnings in line with inflation – from 1 …
Indexation is a means of keeping earnings in Luxembourg in line with inflation – each time it is triggered, wages and pensions are increased by 2.5%.Statec, Luxembourg's official statistics bureau, has announced that workers in the country will see their wages increase by 2.5% through a new round of indexation. Indexation is a means of keeping earnings in Luxembourg in line with inflation. Each time it is triggered, wages and pensions are increased by 2.5%. According to provisional results released by Statec, the annual inflation index stood at 1.5% in July, which, in turn, increased the average bi-annual index rate and triggered a new indexation. The automatic indexation of wages, salaries and pensions will enter into force on 1 August. In early July, Statec reported that inflation levels rose to 1.4%. It has also previously said the next indexation would …
Sébastien Castagna explains why he operates three franchises of American brand in Luxembourg. Sébastien Castagna is a serial franchisee. After having launched eight businesses under Courtepaille and Memphis Coffee licences, over the last four years in Luxembourg and in France, the French entrepreneur is about to go for more. For 2018, he is planning to operate three Five Guys restaurants and two further Osteria Pizza E Pasta businesses in Luxembourg.
First project in Luxembourg to have car park and offices above public transport hub. A transport hub with 10 bus-station platforms, a tram stop, a five-storey car park, offices and shops aims to encourage and facilitate the use of public transport into the city. The 16,500 sqm building off the roundabout at the top end of Kirchberg will include the 'Luxexpo' tram stop, as well as 580 car parking spaces – 80 of which will be allocated to office tenants.
OCBC's private banking arm has been granted a licence to operate a wealth management subsidiary in Luxembourg. A new unit set up by Bank of Singapore will be able to offer services to its wealthy clients in the European Economic Area (EEA) and in Britain, the bank said. The EEA comprises the European Union countries as well as Iceland, Liechtenstein and Norway.
ZURICH (Reuters) - Swiss bank UBS (UBSG.S) will swap out leadership at its Luxembourg wealth management (WM) unit in October amid changes in the region, including the Swiss bank’s move in January to acquire Nordea’s private banking business there.