Luxembourg Financial News

Benoit Sorel (pictured) has taken on the role of global head of ETF, indexing and smart beta business line at Amundi.

Citi's Issuer Services, a segment of Securities Services, acted as the Issuing and Paying Agent for the first Digitally Native Note (DNN) issuance under English Law through Euroclear's Digital Financial Market Infrastructure (D-FMI) distributed ledger technology (DLT) platform. The transaction involved a EUR 100 million, 3-year DNN issued by the World Bank — International Bank for Reconstruction and Development (IBRD) and was listed on the Luxembourg Stock Exchange.

Asia Pacific Screen Awards on Friday. Gold Coast, Queensland, Australia hosted the 16th edition of the APSA Awards.“Perfect Days,” narrates the life of a toilet cleaner in Tokyo as he finds happiness in everyday life. The film was premiered in Cannes. It was selected as Japan’s Oscar contender and as the opening title of the Tokyo International Film Festival.

The fund will seek to invest exclusively in robust, well managed, reasonably priced businesses that can sustain their high returns on operating capital over the long term.

On October 13, 2023, French crypto exchange Coinhouse announced a 15% reduction in its workforce, following in the steps of another French unicorn, Ledger. This move primarily affects the web 3.0 department within the firm. Coinhouse CEO Nicolas Louvet, in an interview with BFM Crypto, clarified that the current downsizing does not relate to an alleged 40% staff cut reported earlier by Mindfintech. He attributed the decision to a waning interest in Web3 technologies compared to the previous year, and a broader bearish crypto market scenario. Despite the layoffs, Louvet mentioned ongoing recruitment for positions in marketing and data departments, hinting at a strategic realignment towards core crypto investment operations.

ALMATY (Reuters) -The death toll from a fire at a coal mine in Kazakhstan owned by ArcelorMittal (NYSE:MT) rose to 45 on Sunday, with emergency teams engaged in an operation to find one remaining miner believed to have been underground, emergency service officials were quoted as saying.

death toll from a fire at a mine owned by ArcelorMittal in Kazakhstan rose to 42 people on Sunday as a search for four miners continued, the Ministry for Emergency Situations said. «The search operation is hampered by the presence of destroyed mining equipment, as well as rubble in some places», the ministry said in a statement. Rescuers are searching for miners in two areas of the mine 4 kilometres (2.5 miles) apart, it said. On Saturday, operator ArcelorMittal Temirtau, the local unit of Luxembourg-based steelmaker ArcelorMittal, said 206 of 252 people at the Kostenko mine had been evacuated after what appeared to be a methane blast. The Ministry for Emergency Situations said it was still monitoring the gas situation at the mine.

Romanian Air Force after thundering through the sky above the Fetesti air base, as NATO bolsters its military presence in member country Romania, bordering Ukraine. Following Russia's invasion of Ukraine in February 2022, NATO has stepped up its efforts to boost the alliance's southeastern flank defences by sending additional battlegroups to the region. NATO has also intensified its joint drills along the defence bloc's wider eastern flank — which encompasses eight member countries — spanning from Estonia and Latvia bordering Russia in the east to Romania and Bulgaria on the Black Sea. The most recent joint exercise in the region — held between October 16 to 20 — for the first time brought together French and Romanian airmen and their planes.

Belgium-based bank Euroclear has launched the first digital native security on the Luxembourg Stock Exchange together with the World Bank.

Euroclear has launched a digital securities issuance service and settled a 100-million-euro ($106 million) digital World Bank bond. This is the first step in the Brussels-based settlement house’s digital infrastructure strategy, it said.

Bitcoin has already breached $38,000 on crypto exchange Bitgamoas the leading cryptocurrency pumps amid optimism around spot exchange-traded fund (ETF).

Israel and Palestinian militant group Hamas even as some member governments signalled reservations about the idea. Josep Borrell, the EU's foreign policy chief, said he backed a call by U.N. Secretary-General Antonio Guterres for a break in the conflict to allow much more humanitarian aid to reach Palestinian civilians in the besieged Gaza Strip. EU officials also drafted a statement in support of the proposal for an EU summit later this week, although they cautioned the text could still change in the coming days. The moves reflected increasing alarm about the fate of Palestinian civilians after two weeks of Israel bombarding and blockading Gaza in response to the Oct.

The digital asset ecosystem in Europe expands as institutions broaden their services to decentralized finance (DeFi) amid market turmoil.

By Gabriel Araujo

Luxembourg, renowned as the wealthiest European Union member per capita, finds itself grappling with a dire housing crisis, thrusting it into the spotlight as the nation's 660,000 residents prepare for the upcoming elections. Pascale Zaourou, a dedicated teacher and mother of three, sheds light on the hurdles of securing affordable housing, stating, «On the private market, renting a two-bedroom apartment costs a minimum of 2,000 euros, posing significant challenges for single-income households.» She underscores the acute scarcity of affordable housing, particularly impacting young individuals and single-parent families. Antoine Paccoud, a researcher at the Housing Observatory, substantiates these concerns by revealing that «an increasing number of Luxembourgers are seeking refuge across borders in countries like Germany, Belgium, or France, drawn by more reasonable rent and property prices.» Despite its robust financial services-driven economy, Luxembourg grapples with a stark contrast in housing affordability. The average net earnings for a single worker in Luxembourg in 2022 reached a staggering 47,000 euros, ranking as the highest within the EU. In the capital city, newly constructed apartments command prices of 13,000 euros per square meter, while older units fetch approximately 10,700 euros.

Active Tradesreceived a TU Overall Score of 4.82 and emerged as ranked 95 on the list. This 22-year-old CFD and Forex broker aims at traders from the United Kingdom, Europe, the Commonwealth of Independent States (CIS), Asia, and South America. At the moment, the company is headquartered in London, having additional offices in Milan, Sofia, and Nassau.

Sygnum Singapore, a subsidiary of the Switzerland-based cryptocurrency bank Sygnum, has received approval for its Major Payment Institution License (MPIL) from the Monetary Authority of Singapore (MAS) to be able to provide crypto brokerage services to accredited investors and institutions in Singapore.

Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, received a license to offer crypto brokerage services to accredited investors and institutions in Singapore.

completed its merger move with UK-headquartered satellite operator OneWeb in which domestic conglomerate Bharti Enterprises is a stakeholder. Shares of the newly-formed Eutelsat Group, in which OneWeb holds a 50% stake, were listed on the LSE at 8 AM GMT on Friday.

Amazon has won court backing for now in its fight against EU tech rules that label it as a very large online platform (VLOP) required to provide researchers and authorities access to its ad repositories to see how ads are targeted. The U.S. online retailer took its grievance to Europe's second highest court, the Luxembourg-based General Court, in July after EU antitrust regulators in April designated it as a VLOP along with 18 other platforms and search engines.

NATO summit in 2019 when Mr Trump asked jeeringly: “Where are you at? What is your number?" Mr Trudeau had more friends at that summit than Mr Trump. But since the Russian invasion of Ukraine, Canada’s position as a penny-pinching outlier has become more embarrassing for the country. The statement of Jens Stoltenberg, NATO’s secretary-general, before the NATO summit in Vilnius this month that spending 2% of national GDP on defence was no longer to be regarded as the “the ceiling" but “the floor" could have been designed to cause blushes in Ottawa.