Tuesday, March 31, 2015

Monthly Newsletter - March 2015


March 2015
Monthly Newsletter







 

News

 


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Luxembourg ranked as leading financial centre in the Eurozone
 
Luxembourg is ranked as the leading financial centre in the Eurozone before Frankfurt, according to the latest Global Financial Centres Index (GFCI), a six-monthly rating of 82 financial centres across the globe.





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S&P confirms Luxembourg AAA rating
 
The rating agency Standard & Poor's (S&P) confirmed the "AAA" rating of the Grand Duchy of Luxembourg with a stable outlook. Luxembourg continues to benefit from the best rating from the three major rating agencies: S&P, Moody's and Fitch.





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OECD releases its report on the state of Luxembourg's economy
 
Presented by OECD Secretary General Angel Gurría and Finance Minister Pierre Gramegna, the study assesses the factors that have helped Luxembourg achieve today’s high levels of prosperity and well-being. The survey underlines that Luxembourg weathered the economic crisis well and proposes new measures to diversify its economy.


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Luxembourg to become the first European founding member of the AIIB
 
Luxembourg becomes the first non-regional prospective founding member of the AIIB. With this adherence, Luxembourg, as a leading international financial centre and a facilitator of investments between Europe and Asia, is ready to further develop its role as bridge-builder and gateway between the two continents.





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A growing private wealth management hub
 
Luxembourg is coming up as a wealth management hub, with 18% growth in international market volume over the last two years. According to the latest Deloitte’s Wealth Management Centre Ranking report, Luxembourg ranks as the 7th most important hub for wealth management in the world.


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Third most globalised economy in the world
 
Luxembourg has the third most globalised economy in the world, according to the study conducted by the Swiss university ETH Zurich. The Grand Duchy performed strongly on the economic front, scoring 91%, placing it just behind Singapore and Ireland in terms of its openness to the world's businesses.





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Luxembourg assets under management hit €3.4trn record
 
Assets under management of Luxembourg-domiciled funds reached €3.4trn at the end of February after solid net sales of €45bn in the first two months of the year, and follows a strong 2014 when net assets under management (AUM) climbed over the €3trn mark for the first time. Luxembourg serves as a domicile for around 3,900 funds.


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Luxembourg delegation reaffirms strong ties with United Arab Emirates
 
A financial delegation headed by HRH Prince Guillaume, Crown Prince of Luxembourg, accompanied by HRH Crown Princess Stéphanie, and led by HE Pierre Gramegna, Luxembourg Minister of Finance, was in Dubai to promote closer collaboration between Luxembourg and the UAE in financial services.





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Building on shared experiences to innovate and diversify
 
After its visit to the United Arab Emirates, the Luxembourg financial delegation then flew to Qatar to drive greater strategic cooperation between the two countries in the field of international finance. Luxembourg is today the largest domicile for Islamic funds in Europe, and the third largest domicile for Islamic funds worldwide, after Malaysia and Saudi-Arabia.


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Banque Internationale à Luxembourg SA (BIL) inaugurates Dubai branch
 
Banque Internationale à Luxembourg SA (BIL) inaugurated its BIL Middle East branch in Dubai, United Arab Emirates (UAE), in the presence of members of Luxembourg’s Grand Ducal family. The opening of this branch, located in the Dubai International Financial Centre (DIFC), reinforces the close economic ties between Luxembourg and the UAE.










 

Events

 


Financial Seminar Toronto
13 April
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Luxembourg for Finance will organise a financial seminar in Toronto on 13 April to give further insight into the various fields the financial centre is active in such as banking and the fund industry.





FinTech Breakfast Toronto
14 April
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Luxembourg for Finance in partnership with the Toronto Financial Services Alliance will organise a FinTech breakfast on 14 April to discuss "How to expand your FinTech business in Europe".





Financial seminar Montréal
15 April
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Luxembourg for Finance will organise two financial seminars in Montréal on 15 April to discuss the Luxembourg investment fund industry and the FinTech sector.





Financial Seminar Stockholm
4 May
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After 2013, Luxembourg for Finance will be back in Stockholm with a financial mission led by HE Pierre Gramegna, Minister of Finance on 4 May 2015.










 

Videos

 


Finance Minister Gramegna on CNBC

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On the occasion of the Global Financial Markets Forum in Abu Dhabi, Luxembourg Finance Minister Pierre Gramegna was interviewed on Squawk Box CNBC about the banking system and the creation of a common level playing field.









Luxembourg for Finance
Agency for the Development of the Financial Centre
Address: 12, rue Erasme, L-1468 Luxembourg-Kirchberg
Website: www.luxembourgforfinance.com
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