| THE FINANCIAL CENTRE'S NEWSLETTER
OCT. 2017 | NEWS | 
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| Luxembourg and China strengthen collaboration and commit to working closer together in climate finance Luxembourg's Minister of Finance, Pierre Gramegna, was in China for high-level bilateral meetings, including with Minister of Finance Xiao Jie and Governor Zhou Xiaochuan of the PBOC. The Minister headed a delegation of more than 70 key decision-makers from Luxembourg's financial services industry. This visit demonstrated the commitment of both countries to boost co-operation, in particular in green finance and FinTech. | | | 
| Tokio Marine moves its EU base to Luxembourg | Tokio Marine, one of Japan's largest insurers, announced that it will establish its new European subsidiary in Luxembourg following the UK's decision to leave the European Union.Tokio Marine is aiming to have the new insurance company operational within the first half of 2018 to enable Tokio Marine HCC and Tokio Marine Kiln to start writing business, including with Japanese customers. |
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| MJ Hudson launches in Luxembourg as EU gateway | Having received its license from the Luxembourg regulator CSSF, MJ Hudson launches its Fund Management Solutions team in continental Europe, from its new offices in central Luxembourg. The Luxembourg office provides its clients with increased options post-Brexit and guarantees EU operating capacity. |
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| Chinese cross-border payment specialist PingPong receives EU license in Luxembourg | PingPong Financial Group, a Chinese FinTech company, has received a Payment Institution (PI) license from the government of Luxembourg. Through the EU's passporting system, the new license enables PingPong to operate throughout the continent, thus better facilitating eCommerce transactions between China and Europe through PingPong's cross-border eCommerce payments services. |
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| Watch on sky news: why luxembourg is winning brexit business | Nicolas Mackel, CEO of Luxembourg for Finance, spoke with Sky News "Ian King Live" in London about the UK Brexit strategy and why Luxembourg is winning Brexit business. |
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| Luxembourg in top 3 EU financial centres, climbs in global rank | Luxembourg is one of the leading financial centres in the EU, together with London and Frankfurt. This was confirmed once again by the latest Global Financial Centres Index (GFCI 22). Climbing by four places, Luxembourg now ranks #14 out of 92 global financial centres overall. |
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| LHoFT & Stellar partner to advance discussion and research on ICOs | The Luxembourg House of Financial Technology Foundation (LHoFT) and the Stellar Development Foundation have collaborated to release a white paper that explores and explains the ICO boom.The paper will shed light on the benefits and risks of ICOs, the ICO lifecycle, potential regulatory measures, policy considerations, and recent global regulatory developments. |
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| China's Legend to make strategic investment in Banque Internationale à Luxembourg | Legend Holdings, a Hong Kong-listed diversified investment group, announced the signing of an agreement with Precision Capital, a Luxembourg-based investment company owned by Qatar royal family members, for the acquisition of Precision Capital's 89.936% stake in Banque Internationale à Luxembourg (BIL), a leading universal banking group headquartered in Luxembourg. This would be the largest take-over of a European bank by a Chinese investor. |
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| | EVENTS |
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| | Milan 2017 | Luxembourg for Finance will host a seminar in Milan on 20 November 2017 honored by the presence of HRH the Crown Prince of Luxembourg and HE Pierre Gramega, Minister of Finance. | READ MORE |
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| The contribution of Luxembourg's financial centre to the European economy | Study by Oxford Economics exploring how the Luxembourg financial centre supports the European economy and benefits Europe's businesses and citizens. |
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