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Cargolux closes November 2014 with all-time record performances


During November, Cargolux carried 76,504 tons of freight, again more than in any other month in its history and 3.1% higher than November 2013. For the 11 months to November 2014, Cargolux grew its tonnage by 10.5% against the same period in 2013. The airline also recorded a continuously high daily aircraft utilization rate at 15.52 hours per day for its fleet, one of the highest utilization rates in the industry, if not the highest. ... Read More »

Luxembourg caves into EU tax listing demands


Prime minister Xavier Bettel said he would comply with the demands - after suing the European Commission over the issue - because other member states are also now required to provide similar details on the discounted tax deals. “If everybody’s in the same boat, this makes it possible for us to take away the trial we had with the commission,” he told reporters in Brussels. Aside from Luxembourg, the commission had also previously requested an overview of tax rulings in Cyprus, Ireland, Malta, the Netherlands and the UK. Other requests h... Read More »

Cargolux сarries cherries to China


The cherries originate from an area south of Santiago that is also famous for its wines. As one of only eight countries that have a free trade agreement with China, Chile can ship fresh fruit by sea or air to the People’s Republic. Cherries are highly regarded amongst Chinese people and, each year, Chile exports about 50% of its production to China during the main airfreight season between November and December. Cargolux has a long history in Chile and regularly carries cherries from Santiago to Beijing, Shanghai and Hong Kong in addition to... Read More »

BIL CIO wins prestigious financial sector prize


“We’re delighted that Yves’ outstanding investment management work has been recognised as part of these awards,” said Hugues Delcourt, BIL’s Chief Executive Officer. “We wish him and the investment management teams the best of luck in continuing to outperform the stock indexes.” Yves Kuhn, in close collaboration with BIL’s Investment Management & Solutions (IMS) teams, defines new strategies in order to help manage the bank’s 3 billion euros under active discretionary management. BIL’s investment managers have turned in a risk-adjusted n... Read More »

Nomination Committee for Oriflame Cosmetics’ 2015 AGM


Alexander af Jochnick, representing the af Jochnick family Per Hesselmark, af Jochnick BV Hans Ek, SEB Investment Management AB Per Colleen, Fourth Swedish National Pension Fund (AP4) The 2015 Annual General Meeting will be held in Luxemburg on 19 May, 2015. Additional members may be added to the Nomination Committee. In such case, this will be announced on www.oriflame.com. Shareholders who wish to contact the Nomination Committee can do so by e-mail to corporate.governance@oriflame.com ... Read More »

EIB and BGL BNP Paribas renew their partnership


Following on from a first EUR 50 million loan for SMEs provided in 2009, which has now been entirely used up, this new partnership agreement will enable BGL BNP Paribas to continue actively supporting the financing of Luxembourgish firms and fostering their development. This “EIB loan for SMEs” consists of a credit line that BGL BNP Paribas will deploy in support of small businesses with fewer than 250 employees trading in a broad range of sectors eligible for EIB financing. The new agreement will extend this facility to midcap companies (wi... Read More »

New Memorandum of Understanding between the Luxembourg Government and the EIB and 5th European Microfinance Award


On 13 November, for the occasion of European Microfinance Week, Her Royal Highness Maria Teresa, Grand Duchess of Luxembourg presented Kompanion with the 5th European Microfinance Award, for its commitment to both microfinance and environmental sustainability. The European Microfinance Award was launched in 2005 by the Luxembourg Ministry of Foreign and European Affairs – Directorate for Development Cooperation and Humanitarian Affairs. It is jointly organised by Luxembourg’s Directorate for Development Cooperation, the European Microfinance... Read More »

ArcelorMittal named among global top companies for leaders


“With nearly 180 organisations participating in this year’s Aon Hewitt study, ArcelorMittal was selected as a result of our continued commitment to developing a strong and effective talent and leadership pipeline” said Brian Callaghan, vice president, leadership development. “Leadership is crucial in developing any kind of culture, but particularly important when high performance is key. And that means increasing leadership capability at all levels of the company, not just at the top of the organisation.” In 2011 ArcelorMittal were selected ... Read More »

BGL BNP Paribas innovates with a digital signature solution for tablets


By the end of the year, 40 branches in the bank’s network will be equipped with the technology. Instead of signing everyday transaction documents on paper, clients can now do so using tablets. Once the electronic document has been signed, it is immediately archived and quickly made available in the client’s “webbanking” space. The result is enhanced efficiency and quality. With the new solution, which will be extended to other processes including new client relationships and the signature of contracts, BGL BNP Paribas aims to further improv... Read More »

Juncker ‘serene’ over Luxembourg tax scandal


The Luxembourg Leaks shed light on 343 international companies, including Ikea, Deutsche Bank and Pepsi, who all benefited from secret tax deals with the Grand Duchy in order to pay as little tax as possible on their global profits. So far, the EU commission has launched formal investigations into potential illegal state aid given by Luxembourg to two companies - Fiat Finance and Amazon - but the spokesman said the new competition commissioner, Margrethe Vestager, "has all the freedom" to pursue new cases. Jean-Claude Juncker, currently c... Read More »

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