An article from Luxembourg's population is close to parity between nationals and foreigners as data published by Statec on Monday showed that the Grand Duchy counted over 300,000 foreigners as of November 2021, making up 47% of all residents. The Grand Duchy's foreign population increased by 38% between 2011 and 2021 to reach more than 304,000 residents, whilst the Luxembourgish population increased at a slower rate of 16.5%, national statistics agency Statec said on Monday, publishing the results of a census carried out in 2021. There were close to 340,000 people with Luxembourg nationality, accounting for 53% of the total population, while Luxembourgers by birth represented close to 51% of the population, Statec said. Luxembourg's population reached 644,000 in 2021, up from 512,000 ten years previously, Statec said. The census, which is held every ten years, was carried out by post …
1. Ask yourself why you want to expand to Europe. Start by asking yourself why you want to expand abroad. Do you want to enter a new market, access a specific talent pool, get government funding, or something else? Opening up an office in a new location is an expensive and time-consuming endeavour, and you need to be really clear about your objective before you go ahead. 2. Revalidate your assumptions. Even though your products or services have already proven successful on your home market, it is not a guarantee that they will work in Europe. Be open to go there and revalidate all your assumptions. 3. Don’t assume that you can sell a “one size fits all” solution. Europe is diverse in terms of language, culture and ways of doing business. Depending on your sector, you might sometimes need …
A few weeks after Fitch’s AAA rating, Scope Ratings has also awarded Luxembourg a triple A rating “with stable outlook.” This is once again the best possible rating to assess the country’s financial situation. The rating agency highlights Luxembourg’s resilient economy and good performance of public finances. Government measures, implemented in a determined manner, have enabled Luxembourg to resist successive crises comparatively better than its neighboring countries. Scope underlines the positive impact of government measures to resist successive crises, notably on purchasing power, private consumption and the level of investment. It even notes a downward trend in inflation. Minister of Finance Yuriko Backes commented: “I will continue to work to maintain sound public finances, which are the key to a resilient and prosperous economy”. Read more: https://mfin.gouvernement.lu/
A recent article from the Luxembourg Trade and Investment Office in San Francisco, CA John Lusk, CEO, Spire Maritime “When thinking of expanding your business to a new market, the first question you should ask yourself is ‘Why?’,” says Mr Lusk. “Do you want to enter a new market, access a specific talent pool, get government funding, benefit from a certain tax regime, or something else? Opening up an office in a new location is an expensive and time-consuming endeavour, and you need to be really clear about your objective before you go ahead.” Expanding to Europe: A global mindset “You also need to make sure that your company is truly committed to a global mindset,” he continues. “Spire is a global company by nature – we operate a global satellite constellation, sell data to clients all over the world and …
photo credit: Alyssa Meadows Photography LACC President, Michel Franck, and Executive Director, Toni Dudsak were recently honored with the Ordre Grand-Ducal de la Couronne de Chêne. His Royal Highnesses Crown Prince Guillaume and H.E. Mr. Franz Fayot, Minister of the Economy, presented the “distinction honorifiques” to Michel and Toni. Given in recognition of their personal efforts on behalf of the LACC these many years, this incredible honor was bestowed during a brief ceremony held at The Luxembourg House. The Prince and the Minister each provided congratulatory remarks, highlighting Michel and Toni’s great dedication and ongoing efforts in strengthening the connections between the Grand Dutchy and the United States. The Ordre Grand-Ducal de la Couronne de Chêne can be awarded to members of government, deputies, state councilors, civil servants, elected representatives and personnel of municipal administrations, key players of the economic, …
Major growth in funds, auditing and legal services drive hiring spree, despite slowdown in banking presence. The number of people employed in Luxembourg's financial sector has soared in the past decadePhoto credit: Gerry Huberty Funds, auditing and the legal sector propelled a major hiring spree in Luxembourg’s financial industry in the past decade, with the workforce growing by more than a third, according to a report released on Tuesday, offsetting stagnation in the country's banks... Read Full Article from the Luxembourg Times
STIBBE ending 2022 with winning Mergermarket Benelux Legal Adviser of the Year award – Recognising the best in the M&A community! Mergermarket, the leading provider of M&A data and intelligence, announced the winners of the 2022 European M&A Awards at a gala dinner at the De Vere Grand Connaught Rooms in London on the 6th of December. The judging panel named over 40 winners in financial and legal advisory from the region for creative advisory work on complex transactions. The judging process included an analysis of Mergermarket’s market-leading league tables followed by a shortlist announcement and scrutiny by a panel of expert judges. Following a review of all the pitches and M&A league table data, the expert panel selected Stibbe as Benelux Legal Adviser of the Year. Stibbe thanks Mergermarket for this recognition.
The LACC was pleased to host a Christmas Market at The Luxembourg House on December 1st featuring all sorts of products for sale from Luxembourg vendors. The event was a wonderful success! The LACC partnered with our member Everyday Luxembourg/Ansay International who provided us with lots and lots of goodies for our guests to purchase. Christmas shopping was enjoyed by all. We also partnered with the Chamber of Commerce Luxembourg who provided us with sponsorship to help highlight all of the great Luxembourgish products available. Many of the products were offered in the US for the very first time ~ clearly there is an appetite for products from Luxembourg here! View pre-event photos HERE. Visit Everyday Luxembourg for products available in the US.
Event Photo Albums HERE Crown Prince Guillaume; Franz Fayot, minister of economy; Paulette Lenert, health minister; David Domnisch, vice-president and general Manager of DuPont Tyvek; Michel Franck, president of the Luxembourg American Chamber of Commerce in New York. Photo Credit: Russ Roland On November 9 Crown Prince Guillaume, deputy prime minister and minister of health Paulette Lenert, and minister of economy Franz Fayot, attended the 10th Luxembourg-American Business Award ceremony at a gala evening in New York. After two days in Boston, the Luxembourg delegation spent its third day of a working visit in the US in New York. The day included a conference organised by the Luxembourg Private Equity Association (LPEA) and the presentation of the Luxembourg-American Business Award 2022. Luxembourg as centre for investment funds Minister of the economy, Franz Fayot gave the opening speech at a conference organised by the …