Luxembourg (Europe)

Wettbewerb der Finanzplätze: Luxemburg steigt im globalen Finanzranking auf Platz 16 und liegt damit vor Paris, aber hinter Dublin.

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Le Global Financial Centres Index classe cette année la place financière luxembourgeoise au douzième rang mondial. Il s’agit d’un gain de six places par rapport à la précédente édition.

La Place luxembourgeoise vient de monter en flèche dans le classement 2020 du Global Financial Centres Index paru ce 25 septembre. Classée désormais en 12e position, elle réalise un bond de 6 places par rapport à la précédente édition. Ceci dit, elle était 14e en 2017 et a reculé par la suite.

Si l’on excepte Londres, qui ne sera bientôt plus comptabilisée dans l’Union européenne, Luxembourg est donc la Place la mieux placée au niveau mondial parmi les vingt-sept dans le classement du GFCI, publié par Z/Yen Partners en collaboration avec le China Development Institute.

Luxembourg peut faire valoir sa deuxième position mondiale dans le secteur des fonds d’investissement. Le classement met surtout en avant la véritable expertise développée par le Grand-Duché dans le capital humain.

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Le cabinet Fieldfisher vient d’ouvrir un nouveau bureau au Luxembourg, avec une spécialisation en finance et fonds.

Un nouveau nom dans le milieu des avocats. Le cabinet européen Fieldfisher vient d’annoncer ouvrir un bureau au Luxembourg, avec Ingrid Dubourdieu à sa direction en tant que managing partner. 

Son expérience conduiront le bureau luxembourgeois du cabinet dans le domaine des fonds d’investissement réglementés et non réglementés, du wealth management et de la blockchain. Les expertises en M&A, fiscalité des entreprises et international sont aussi à l’agenda du bureau.

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Pierre Gramegna Discusses Brexit, eCommerce Taxation, Green Finance with Japanese

As part of his mission to Japan from Wednesday to Friday last week, Pierre Gramegna, Luxembourg's Minister of Finance, met his counterpart Taro Aso, Deputy Prime Minister and Minister of Finance of Japan.

The two ministers welcomed their excellent bilateral relations and discussed the economic and financial situation in Europe, as well as the latest developments in the Brexit negotiations. They also discussed the subject of e-commerce taxation and identified new avenues for collaboration between Japan and Luxembourg, particularly in the area of ​​green finance.

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Luxembourg is further developing exchanges in the area of financial services with South Korea.

Luxembourg for Finance (LFF)-- the agency for the development of Luxembourg's financial centre -- has entered a partnership agreement with Seoul's metropolitan government and Financial Hub Korea, it was announced on Tuesday.

LFF CEO Nicholas Mackel said in a statement that the deal was designed to promote Seoul's role as a leading Asian financial centre, as well as Luxembourg's role as a platform for Korean fund managers in Europe. 

The Grand-Duchy has built strong business relations with South Korea. Luxembourg domiciled funds represent 92% of foreign funds admitted for distribution in the country. 

Also, major South Korean fund managers such as Mirae, Korea Investment Management and KN Asset Management have chosen Luxembourg to set up funds.

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Luxembourg's Minister of Environment Carole Dieschbourg and Minister of Finance Pierre Gramegna signed off on the launch of the first stage of the Climate Finance Accelerator on Monday.

A feasibility study, financed by the government, showed strong demand for an accelerator giving technical support to the managers of green finance funds.

The accelerator aims to help to fund managers wishing to invest in projects that have a highly measurable impact in terms of mitigating or addressing climate change.

The ministries are set to finance the accelerator with €2 million over three years.

"The launch of the Climate Finance Accelerator, together with the Ministry of Environment and eight private actors, marks an important step in developing green finance in Luxembourg and makes our financial centre a pioneer in this sense," Gramegna said.

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Luxembourg is becoming a serious contender among nations bidding for business to come their way after the U.K.’s exit from the European Union, as insurers, asset managers and financial-technology companies are interested in setting up shop in the Grand Duchy.

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Could the fight against climate change become a real financial issue? The Luxembourg Stock Exchange definitely thinks so.

It's the first to list a "green bond", destined to finance only projects that meet strict criteria and are beneficial to the environment. 

Today, it created the Luxembourg Green Exchange, the first of its kind in the world.

This platform is the first ever to certify green financial instruments, intended only to finance green projects.

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GFCI: LUXEMBOURG FINANCIAL CENTRE RANKED NUMBER 1 IN THE EU

The Financial Centre
Luxembourg has once again been ranked as a leading European and global financial centre according the latest edition of the Global Financial Centres Index 28.


The leading position of Luxembourg within the EU in the index reflects the international financial centre’s stability and expertise, especially during times of crisis.

Luxembourg has moved up 6 places in the overall index, now ranking as the 12th financial centre globally. The country remains the largest investment fund centre in Europe, second largest in the world, and the leading global fund distribution hub. Furthermore, the Grand Duchy is committed to financing a sustainable future, connecting businesses of today with the needs of tomorrow’s economy. Indeed, the country is ranked as the 2nd financial centre worldwide by the Global Green Finance Index according to the GGFI 5, reflecting the quality and depth of green finance within the Grand Duchy, a key priority for the EU.

Luxembourg continues to serve as a global hub for cross-border finance, with leading international traditional and alternative asset managers, banks and insurers serving the European Single Market. The country has shown its strength in this space, with more than 60 financial institutions selecting the Grand Duchy as their post-Brexit gateway to the EU single market.

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Ant Financial Services Group, an affiliate company of the Chinese Alibaba Group, has confirmed Luxembourg as the location of its European hub.

The confirmation was made during Luxembourg Minister of Finance Pierre Gramegna's mission in China this week (9-13 September 2018) which focused on sustainable finance and the strengthening of ties between Luxembourg and China.

After having attended a series of meetings in Beijing, first with his Chinese counterpart, Liu Kun, on the macroeconomic situation and risks of protectionism, and then with the leaders of several Chinese banks, Pierre Gramegna met with the President of Ant Financial, Eric Jing, in Hangzhou to discuss the company's international development strategy and the role that Luxembourg could play in this context. At this meeting, Eric Jing confirmed that Ant Financial, the parent company of Alipay, China's largest mobile payment platform, has chosen Luxembourg as a European hub to help connect their Chinese customers with merchants established in the European Union.

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Luxemburgs öffentliche Finanzen erfreuen sich bester Gesundheit. Finanzminister Pierre Gramegna (DP) legte am Freitag die neuesten Zahlen vor. Er traf sich mit dem Finanzausschuss und dem Budgetkontrollausschuss des Parlaments.

Vor allem die guten Wirtschaftsdaten haben sich im vergangenen Jahr positiv auf die Staatskasse ausgewirkt. Nach EU-Berechnungsregeln weist der Zentralstaat Ende 2017 einen Überschuss von 364,1 Millionen Euro aus. 2016 waren es 148 Millionen Euro. Die Erklärung: Die Einnahmen stiegen mit +5,7 Prozent bedeutend stärker als die Ausgaben (+4,3 Prozent).

Wendet man die klassischen Haushaltsregeln an, verzeichnete der Staat Ende 2017 einen Überschuss von 358,3 Millionen Euro. Die vom Parlament 2016 verabschiedete Haushaltsvorlage sah noch ein Defizit in Höhe von 851 Millionen Euro vor.
Die Wende ist den 551 Millionen Euro Mehreinnahmen im Vergleich zu 2016 zu verdanken. Unter den großen Steuergruppen sticht vor allem die Körperschaftssteuer hervor. Hier stiegen die Einnahmen (1,99 Milliarden Euro) um 24 Prozent im Vergleich zu 2016. Die Mehreinnahmen aus der Gehaltssteuer lagen bei 2,6 Prozent (3,434 Milliarden Euro).

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His comments pit the tiny and wealthy country against some euro zone heavyweights, which want to tighten ‘delegation’ rules in a post-Brexit Europe to attract more financial firms to their own countries.

Gramegna said Luxembourg is offering a pragmatic solution to problems Brexit will cause, by becoming a home to subsidiaries of London-based financial firms.


He also noted that a few Japanese insurers had already decided to set up subsidiaries of their London-based European headquarters in Luxembourg, with an eye on operations in post-Brexit Europe.

“We are saying delegation has worked well and is posing no problems and it should not be changed. When I say it works well, it means that investors are well protected,” Gramegna told Reuters in an interview in Tokyo.

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Luxembourg-City improves position in overall rankings, yet competitiveness rating falls by 13 points in survey.

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Das amerikanische Finanzunternehmen Northern Trust will seine Europa-Geschäfte von Luxemburg lenken.

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The Finance Sector is the biggest source of GDP for Luxembourg. In terms of value creation and international competitiveness, there are important and largely untapped areas where financial innovation will help consolidate and grow the industry in the country, while also helping to transform the corresponding segment of ICT providers to the Finance Sector.

To this day, the industry has demonstrated that purely technological discoveries have not been enough to transform its services, reduce continuously rising costs or avoid the collapses experienced in the cyclical crises of the industry. Opportunities from digitization still remain mostly untapped.

In line with its mission to transfer innovation and accelerate economic impact for the industry, the Luxembourg Institute of Science and Technology is therefore pleased to announce the creation of the Finance Innovation Technology and Systems Centre (FITS).

Luxembourg’s new FITS Centre comes to fill a significant gap in applied research and innovation for the Financial Services industry in Luxembourg and related ecosystems, including the ICT sector.

The measure of success for FITS will be its impact and its ability to bridge a gap between research and industry actors. Its working approach is based on two critical business principles:

Systemic interdisciplinarity: financial innovation challenges cannot be based on Fintech aspects alone but need to be addressed in an integrated and holistic manner as a combination of people, practices and processes.
Industry segment focus: Instead of targeting financial services as a whole, FITS will focus its applied research solely on subjects that generate tangible economic value for the local finance industry.

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Dans la suite du Brexit «plusieurs entreprises sont intéressées de s’implanter au Luxembourg», indique le Premier ministre. Le ministre des Finances, Pierre Gramegna, parle d’une dizaine.

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La fintech dédiée à la gouvernance dans les fonds d’investissement est la grande lauréate des premiers Fintech Awards Luxembourg dont la finale s’est déroulée mardi soir. Scaled Risk reçoit le prix de Fintech Entrepreneur of the Year et Neurodecision est récompensée pour son pitch.

En soulignant que le gouvernement, avec le concours de la Ville, va transformer un ancien commissariat, en l’occurrence la rue Glesener, pour en faire une maison des start-up, Xavier Bettel tient le rôle d’ambassadeur de premier plan d’une économie luxembourgeoise dans laquelle le digital doit être envisagé sur un mode transversal.

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La plus importante plateforme bitcoin en Europe a choisi de quitter le Royaume-Uni pour le Luxembourg afin d’entamer une nouvelle phase de son développement.

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