YURIKO BACKES NAMED AS LUXEMBOURG’S NEW FINANCE MINISTER
Backes, the first female Finance Minister in Luxembourg’s history, is a career diplomat with a wealth of both European and international experience.
Read MoreBackes, the first female Finance Minister in Luxembourg’s history, is a career diplomat with a wealth of both European and international experience.
Read MoreFollowing the announcement on Wednesday 25 August 2021, when the President of the USA, Joe Biden, announced his intent to nominate Thomas Barrett to serve as Ambassador Extraordinary and Plenipotentiary to the Grand Duchy of Luxembourg, the decision has been ratified by the US Senate on Thursday 16 December 2021. Mayor of Milwaukee since 2004, Thomas Barrett is currently the longest-serving big city mayor in the US. He has led great lakes mayors in both Canada and the U.S. as the chair of the Great Lakes and Saint Lawrence Cities Initiative, and spearheaded multiple clean, green initiatives in the city to clean up rivers, parks and brownfields. He served five terms as a Member of the U.S. House of Representatives and was a State Senator and State Representative in Wisconsin. Thomas Barrett received a B.A., Phi Beta Kappa, from the …
Read MoreOn Friday 3 December 2021, Luxembourg's Minister of the Economy, Franz Fayot, visited Ampacet Europe which announced on this occasion that it is doubling its colour production lines at its Dudelange site. Ampacet has invested more than €40 million in a new facility in Dudelange that currently houses the American group's European headquarters. This investment is set to double the company's colour production capacity and lead to the creation of 25 additional jobs. Since arriving in the Grand Duchy in 1995, first in Windhof and then in Dudelange, Ampacet has continued to expand its activities there. The company invested more than €40 million in Luxembourg through the establishment, on two occasions, of new production lines in Dudelange and the installation of its European distribution centre within the Eurohub Sud logistics park in Bettembourg / Dudelange. Based in New York, the …
Read MoreFrom Luxembourg for Finance In a surprise announcement, Minister of Finance Pierre Gramegna indicated he would step down from his post at the end of 2021 for personal reasons. During his eight years as Minister he has been a tireless advocate for Luxembourg’s financial services. One of his major legacies is the implementation of tax transparency, which he embraced from the beginning of his term. His other achievements comprise the continued digitalisation of Luxembourg’s financial industry and his relentless push for finance to be more sustainable. He ensured Luxembourg’s continued fiscal stability and steered it safely through the uncertainty caused by the pandemic. As the numbers attest, he leaves Luxembourg’s financial industry in excellent shape and for this we owe him thanks. As Finance Minister, Pierre Gramegna was also Chairman of Luxembourg for Finance and the entire team, and …
Read MoreLuxembourg's Minister of Finance, Pierre Gramegna, attended the first in-person ALFI London Conference since the start of the COVID-19 pandemic on 18 November 2021. On this occasion, Minister Gramegna advocated the role of the financial sector in achieveing net zero emissions. The Finance Minister addressed fund sector professionals at the conference, stating: "One of the positive effects of the COP26 in Glasgow is undoubtedly the reinforced engagement of the private sector, and more particularly of finance actors, in the financing of the fight against the climate crisis. The financial sector has realised the special role it plays in the transition to a future of net zero emissions and therefore the achievement of the objectives of the Paris Agreement. It is by mobilising the resources of the financial sector, including investment funds, that we will go from billions to trillions of …
Read MoreLUXEMBOURG CONSUL GENERAL DANIEL DA CRUZ AND HONORARY CONSUL PAUL BINSFELD MEET WITH ARIZONA LEADERS TO IDENTIFY OPPORTUNITIES FOR SUSTAINABLE ECONOMIC DEVELOPMENT 11-11-2021 Consul General of the Grand Duchy of Luxembourg Daniel Da Cruz and Honorary Consul of Luxembourg to Arizona and New Mexico Paul Binsfeld completed a series of meetings with government officials and industry leaders to discuss opportunities for collaboration between Luxembourg and Arizona for sustainable economic development. Da Cruz and Binsfeld had inspirational discussions and shared ideas with Councilwoman Ann O’Brien and leaders from the Greater Phoenix Economic Council, Culdesac, Arizona State University, Thunderbird School of Global Management, and Lintelio, on innovation and sustainability, space research, data analytics, workplace health and education, “I am thrilled at the outcomes of our meetings,” Binsfeld states. “Together, with these leaders and organizations, the Consul General and I were able …
Read MoreLuxembourg's Ministry of Foreign and European Affairs has announced that fully vaccinated individuals from the United States can now travel again to the Grand Duchy. The Foreign Ministry announced changes to the list of third countries whose COVID-19 vaccination certificates are accepted for entry to the Grand Duchy, including for non-essential reasons. As of 7 November 2021, third country nationals with a certificate proving a complete vaccination schedule issued by the US are now authorised to enter the territory of the Grand Duchy of Luxembourg, including for non-essential travel. Along with vaccination certificates issued by a Member State of the European Union or the Schengen Area, Luxembourg recognises vaccination certificates issued by the following third countries: Albania; Andorra; Armenia; Faroe Islands; Israel; Morocco; Monaco; North Macedonia; Panama; San Marino; Turkey; Ukraine; United Kingdom; United States; Vatican City. Any other person, regardless of nationality and …
Read MoreSNT AND SES’ PARTNERSHIP LAUNCHES LAB TO FOCUS ON NEXTGEN SATELLITE CONNECTIVITY AND QUANTUM COMMUNICATIONS SES and the University of Luxembourg’s Interdisciplinary Centre for Security, Reliability and Trust (SnT) announced today the creation of a joint lab that will explore the benefits of high-throughput satellite systems in the areas of next-generation networks, including quantum communications and cybersecurity. The agreement will see both institutions jointly utilise facilities at their respective sites to expand and strengthen their long-term partnership by leveraging Luxembourg’s R&D and SES’s industry leadership positions to explore next-generation technology. The partnership will focus on studying the potential of next-generation high-throughput satellite systems and multi-orbit capabilities, such as SES’s Geostationary and Non-geostationary Medium Earth (MEO) orbit fleet. In addition to this joint initiative, SES and SnT are also collaborating to leverage early access to Luxembourg’s supercomputer MeluXina. Rated as one …
Read MoreLuxembourg’s green financial credentials have been reconfirmed in the latest GGFI 8, with the financial centre being placed 2nd highest in the EU and 5th globally. Moving up 1 place, the ranking corroborates the strength of Luxembourg’s sustainable finance toolbox and expertise. The Grand Duchy remains the market leader in terms of sustainable investment funds, with a third of all European sustainable fund assets being domiciled in Luxembourg. Commenting on the ranking, Nicolas Mackel, CEO of Luxembourg for Finance noted that “the position of Luxembourg, both globally and within the EU, attests to the strength of the Grand Duchy’s sustainable finance ecosystem; one that continues to grow and implement new initiatives and products to combat climate change.” The GGFI is published by Z/Yen Partners and a globally recognised comparison of the depth of green finance across leading financial centres. Read the full …
Read MoreAfter the 1st successful edition of the LPEA Job Fair in March, LPEA is now offering the 2nd edition which will take place on October 7th. This will be a full-day digital event connecting some of the biggest PE/VC recruiters in Luxembourg with candidates from all across Europe. The Job Fair is organised by LPEA, the Luxembourg Private Equity & Venture Capital Association and it is free of charge for candidates. Please find more information and register here.
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