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EIB President Hoyer: EIB Group will play crucial role in “EFSI” investment initiative

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The President commented: “EFSI will unlock additional investment of at least EUR 315 billion over the next three years, strengthening confidence and improving the competitiveness of Europe´s economy.” He added: “We welcome that EFSI will be set up within the EIB Group. Our know-how and experience, in partnership with the Commission, will help provide fresh stimulus for the real economy in Europe. We have a strong track record of putting money to work.” EFSI will be initially endowed with a EUR 16 billion guarantee from the Commission and EUR... Read More »

KBL EPB launches Richelieu fund range inshare

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KBL European Private Bankers (KBL epb), the Luxembourg-headquartered private banking group, announced today the launch of its Richelieu investment fund range, including the first three Richelieu-branded funds. KBL epb, which operates in nine countries in Europe, currently acts as investment manager for some 60 proprietary funds, including funds marketed across its footprint under a range of local brand names, reflecting the group’s historical multi-brand strategy. For the past two years, KBL epb has focused on strengthening the ties that ... Read More »

Cargolux closes November 2014 with all-time record performances

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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

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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

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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

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“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

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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

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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

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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

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“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 »

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