Luxembourg Financial News

A new strain of the (infamous) Covid-19 variant has been found. India’s first case of JN.1, a sub-variant of the virus has been recorded in Kerala. Although the state’s health minister Veena George assured that it was not a “cause for concern,” it has left people alarmed. According to reports, the sub-variant was discovered on December 16, as part of an ongoing routine surveillance activity conducted by the Indian SARS-CoV-2 Genomics Consortium (INSACOG). It was detected in a 79-year-old woman.

Taurus, a Swiss crypto custody firm supported by Deutsche Bank, has entered into a partnership with Teylor, a fintech lending platform based in Zurich and specializing in the German SME marketplace.

Amazon won’t have to pay about $273 million in back taxes after European Union judges ruled in favor of the U.S. e-commerce giant

Jonathan Unwin (pictured) has joined the firm after eight years as deputy head of asset management at Luxembourg-based private bank Banque Havilland.

French banking giant Societe Generale is listing its stablecoin, dubbed EUR CoinVertible, on the Luxembourg-based Bitstamp crypto exchange.

investors, whose enthusiasm for purchasing Indian sovereign debt is sapped by the procedures associated with the exercise, have found a novel instrument to tap into the credit market in the world's fastest-expanding major economy: Supranational bonds. Issuers of these instruments include entities such as the European Bank for Reconstruction and Development, International Finance Corp, and the Inter-American Development Bank. Investors include major global players such as Capital Group Cos, Bank of New York Mellon Corp, Mizuho Financial Group and Union Investment Luxembourg, among others, Bloomberg data showed.

By Foo Yun Chee

Bitfinex’s recently-launched tokenized bond have fallen short of expectations, raising only $1.5 million of its initial target of $10 million.

Bitfinex’s recently launched Tether (USDT) tokenized bond, hailed as a “new era for capital raises,” appears to have failed to garner the investment and interest the firm anticipated.

Leonardo Del Vecchio, former chairman of EssilorLuxottica, the world's largest eyeglasses firm, passed away at 87 in June last year. His substantial $25.5 billion fortune was inherited by his wife and six children, including Clemente- who became the world's youngest billionaire in 2022.

Reliance Jio and Bharti Airtel, is now reaching new frontiers. In what seems to be a step ahead of Jio, Bharti-backed low earth orbit (LEO) satellite firm OneWeb India has been granted the necessary regulatory approvals from the Indian National Space Promotion and Authorization Centre (IN-SPACe) to launch Eutelsat OneWeb's commercial satellite broadband services in India. Eutelsat OneWeb is a subsidiary of Eutelsat Group, global leader in satellite communications (satcom) delivering connectivity and broadcast worldwide.

By Eliana Raszewski

According to the country's government, Belgium plans to accelerate the development of a European blockchain infrastructure during its presidency of the Council of the European Union in early 2024.

According to Morningstar Direct, MS INVF China Equity reached a peak in assets under management of £12.2m in January 2021.

By Nell Mackenzie and Akanksha Khushi

The firm’s flagship fund, Fundsmith Equity, held £23.9bn in assets at the end of September, down from a peak of about £28.8bn in December 2021, according to data from FE fundinfo.

Microsoft and Alphabet's Google will not challenge an EU law that would require them to make it easier for people to move between competing services — such as social media platforms and internet browsers, the companies said. In September, the European Union picked out 22 «gatekeeper» services, run by six of the biggest tech companies in the world, to face new rules as part of its latest crackdown on Big Tech.

OneWeb recently said it can launch fast broadband services in India using its low earth orbit (LEO) satellite constellation as early as end-November. Reliance Jio too said it can roll out JioSpaceFiber services using its Luxembourg-based JV partner, SES’s medium earth orbit (MEO) satellite constellation within weeks of being allotted the spectrum. US-based Hughes already offers satcom services in India using geostationary earth orbit (GEO) satellite systems while Elon Musk’s Starlink is revving up to launch internet-from space services using its LEO satellites once it has necessary approvals from the Indian government. But what are LEO, MEO and GEO satellite constellations? And what is their role in providing broadband connectivity in remote and inhospitable regions? Here’s an ET explainer. Simply put, these are global satellite systems that operate at very different altitudes above the earth’s surface and can be used to provide high-speed broadband in remote and inaccessible regions where it’s a challenge to roll out terrestrial networks (read: landline and mobile networks).

Apple Inc. risks having to pay a €13 billion ($14 billion) tax bill to Ireland after an adviser to the European Union’s top court said the iPhone maker’s victory in an earlier challenge should be thrown out.

By Foo Yun Chee and Bart H. Meijer

Crypto ATMs are continuing to expand globally with over 32,500 installed so far, Financial Times reported.