Industrie financière luxembourgeoise: Stabilisation en 2010

Les effets de la crise financière ont continué à se faire ressentir pendant l’année 2010, mais les activités de l’industrie financière luxembourgeoise se sont plus ou moins stabilisées, constate une étude réalisée par Deloitte pour le Haut Comité de la place financière. Si la reprise des marchés et des activités intervenue en 2010 se traduit par une progression des revenus, principalement issus des commissions, les banques subissent les effets de la réduction des activités d’intermédiation. read more

Now is not the time to get too excited about stocks

The Eurozone sovereign debt crisis is likely to be the biggest risk factor that investors have to deal with in 2012. Financial markets will be driven by the uncertainty related to its political and economic challenges. This is the analysis made by Giorgio Cortiana, Managing Director of Wealth Management Research at UBS. In his economic and market outlook 2012, he predicts the first months of 2012 to be a minefield. read more

Nothing is sure but death and taxes

When a person domiciled in Luxembourg dies, respectively real estate property is in Luxembourg, the net assets left to the heirs are in principle subject to inheritance tax. Neither the benefactor nor the heirs want to see a large part of their inheritance going to be highly taxed. With some planning in due time, the impact of the taxes can be minimised. Ernst & Young has just released its latest tax publication called “International Estate and Inheritance Tax Guide 2012”, a guide that is quite unique, according to Ernst & Young Luxembourg.  read more

A register of quality: the Maritime Regulator raises the bar

“I come not to praise 2011 but to bury it!”

With this para-quote from William Shakespeare (Julius Caesar: Act III scene 2) Freddy Bracke, chairman of the Luxembourg Maritime Cluster, opened a new year reception hosted by Luxembourg Ship Owners. Given that an estimated 90% of world trade is carried in ships it is not surprising the industry suffered a tough year. However, with 253 ships registered under the Luxembourg flag, members are now focused on establishing the register as a label of quality. read more

ALFI: another year, another combat

The Luxembourg investment fund industry continued to create jobs in 2011 despite very adverse conditions. Speaking at a press conference Mr Marc Saluzzi, chairman of ALFI, described 2011 as “a year of combat”. Thanks to the strength and reputation of Luxembourg in a period when investors have lost confidence, net sales remained positive over the year. Few countries in Europe could match this performance, he noted. read more

Transaction Tax: Learning from the Swedes

France wants the financial transactions tax to see the light of day, but there is no consensus in Europe on this topic. The Luxembourg Bankers’ Association (ABBL) is against such a tax if it will only be valid in few countries. Its CEO, Jean-Jacques Rommes, fears that business will go to competing finance centres. In an interview with LFF, he spoke about the efficiency of such a tax and the lessons we should learn from Sweden. read more