Executive Summary

皆様、
ルクセンブルクニューズレターをいつもご覧頂きありがとうございます。
多くの方々とお話する中で、必ず出るご質問のひとつが「ルクセンブルクでは何を話しますか？」というものです。「ルクセンブルク語、フラン
ス語、ドイツ語が公用語です」と答えると「ルクセンブルク語というものがあるのですか！」と驚かれることが常です。そこで、ルクセンブルク
貿易投資事務所では「出張や旅行に役立つルクセンブルク語ミニ会話」ビデオを制作しウェブサイトにアップしました。トップページ
（www.investinluxembourg.jp）左側の青いコラムの中ほどに掲載していますので、是非ご覧下さい。ルクセンブルク語は Lëtzbuergeschと
現地では呼ばれ、言語学上の正式名称はMoselle Franconianということになっています。ユネスコの「世界消滅危機言語 (Atlas of the World’s
Languages in Danger)」調査によれば現在言語人口は約３万９千人で、消滅危機のある言語の中ではもっとも危険度の低い「脆弱
（vulnerable）」という分類に入っています。ちなみに、同調査では全世界で６千前後あるといわれる言語を調査。約 2500言語が消滅危機にさ
らされているとされ、最も危険な「極めて深刻」から「重大な危険」、「危険」、「脆弱」の4段階に分類されています。ルクセンブルク語に興味を
もたれた方は、上記ビデオのほかにも英語で簡単なフレーズを学べる「1 minute Luxembourgish」もお勧めです。
http://itunes.apple.com/gb/podcast/one-minute-luxembourgish/id278556752
2月1日に、ルクセンブルク経済通商大臣が交代し、新大臣エティエンヌ・シュナイダーが着任しました。就任に際し行われた複数の会見やイ
ンタビューで、これまでのクレッケ大臣時代と政策方針は転換せず依然として、物流、ＩＣＴ、環境技術、海運、健康技術を戦略的成長分野と
みなし、エネルギー政策推進や産業開発特区新法による事業開始支援の迅速化などに特に意欲を見せています。シュナイダー大臣はこれ
までも経済省内でクレッケ前大臣の政策立案と法案化に深く携わってきました。まだ40歳という若い閣僚就任で経済通商省内も一層活気付
いています。
東京では、来月あるオンラインゲーム系企業向けの海外進出支援セミナーで講師の一人として欧州ならびにルクセンブルクの事業環境を説
明させて頂くことになりました。また別途詳細をご案内いたします。
去る2月15日に在日ベルギールクセンブルク商工会議所の新年会が開催され、 100名近い日欧のビジネスマンがベルギーを代表する冬の味
覚、ムール貝＆フライドポテト（ムール・フリット）とルクセンブルクワインを堪能しました。大変好評だったので、定例化の話も出ています。ま
た、16日にはルクセンブルクのピアニスト、フランチェスコ＝トリスターノがダンスの勅使河原三郎、佐東利穂子とコラボレーションしたステー
ジ、「レユニオン～ゴルトベルク変奏曲」が開催されました。視覚と聴覚に同時に訴えかける静かながら強い力で、ひととき月世界にでも連れ
て行かれたかのようでした。
それでは皆様、寒さがもどってまいりましたが、どうぞ体に気をつけてお過ごし下さい。
ルクセンブルク貿易投資事務所
エグゼクティブ･ディレクター
松野百合子
Executive Summary
In January 2012, a number of events took place within and outside Luxembourg. Table 1 summarises the key developments of the month.
Table 1: Key Developments – January 2012
SEGMENT
NEWS
Company news
企業関連・ニュース
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
ArcelorMittal Seeks Extension for Orissa Projects
アルセロールミタル、オリッサプロｼﾞｪクトの延長を要請
ArcelorMittal’s Ukraine Unit Records Production Increase
アルセロールミタルのウクライナユニット増産を記録
Cargolux Introduces Third Weekly European Cargo Flight to Indiana
カーゴルックス、インディアナへ週三回の欧州貨物便を導入
SES, MagtiCom Launch MagtiSat in Georgia
SES、MagtiCom、グルジアで MagriSatを開始
SES Changes the Position of SES-3
SES、SES-3の位置を変更
Guardian Launches SunGuard SNR 43
ガーディアン、サンガード SNR43を発売
Guardian Introduces SunGuard IS 20
ガーディアン、サンガード IS20を発表
Guardian’s Building Energy Calculator Named Product Resource of 2011
ガーディアンのビルエネルギー計算機がプロダクト・リソース 2011に挙げられる
Clearstream Hosts Tax Webinar
クリアストリーム、税金ウェビナー（オンラインセミナー）を開催
Ceratizit Introduces Notch-Resistant Carbide Grade
セラティジット、ノッチ・レジスタントカーバイドグレードを発表
IEE Introduces Retail Display Application
IEE、小売用ディスプレー・アプリケーションを発売
RTL Group Sells Alpha Media Group
RTLグループ、アルファメディアグループを売却
Cargolux Names Richard Forson as New CFO
National political
developments
国内政治関連
European and international
political developments
欧州・国際政治関連
·
·
·
カーゴルックス、リチャード・フォーソンを新ＣＦＯに任命
Guardian Auto Glass Names Nik Frye as VP, Sales and Marketing
·
·
·
·
·
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·
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·
·
·
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·
·
·
·
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Logwin AG Expands Chinese Operations
ログウィン、中国の業務を拡大
·
·
·
·
·
·
ガーディアン・オート・グラス、ニック・フライを販売マーケッティング部長に任命
Frieden Visits Copenhagen
フリーデン大臣、コペンハーゲンを訪問
New EIB President Visits Luxembourg
新EIB総裁ルクセンブルクに来訪
Trade Mission to Israel
トレード・ミッションイスラエルへ
Presentation of the “Fit4Commerce” Project
“Fit4Commerce”プロジェクトを発表
Frieden Participates in WEF in Davos
フリーデン大臣ＷＥＦダボス会議に参加
Frieden, Wiseler Visit Qatar and the UAE
フリーデン大臣、ヴィスラー大臣、カタールと UAEを訪問
Juncker Participates in Informal Meeting of European Council of Heads of State and Government
ユンカー首相、国家元首、政府首脳からなる欧州理事会の非公式の会合に参加
Schneider Takes Oath as Luxembourg Minister for the Economy and Foreign Trade
シュナイダー、ルクセンブルクの経済通商大臣として宣誓
EU Bans Iranian Oil Imports
EUイランの石油の輸入禁止
EU Initiates Discussions with Kosovars on Visa Requirements
EU、コソボ人のビザの必要条件についての話し合いを開始
EU Member States Agree on Tougher Budget Rules
EU加盟国より厳しい財政規則に同意
Company News: In the steel sector, Luxembourg-based steelmaker ArcelorMittal asked the Orissa government for the renewal of the Memorandum of Understanding (MoU)
of its Orissa project for the next five years. Further, In 2011, the steelmaker’s unit in Ukraine witnessed a 13,9 percent year-on-year increase in production.
In the cargo airlines sector, Luxembourg-based cargo airlines Cargolux introduced its third weekly European flight to Indiana. The flight will carry medical products to
meet the demand of Roche Diagnostics, Indianapolis. Further, the company announced a change in management by naming Richard Forson as its new CFO.
In the satellite services industry, Luxembourg-based satellite operator SES along with Magticom, a Georgian mobile and telecommunication company, launched its firstever domestic direct-to-home (DTH) satellite platform MagtiSat via ASTRA, in Georgia. Further, the satellite operator has changed the position of SES-3, a satellite
launched in July 2011.
In the glass manufacturing industry, US-based float and fabricated glass manufacturer Guardian Industries introduced SunGuard SNR 43, a glass coating for commercial
applications. In another development, the company launched its first interior surface coating for glass, SunGuard IS 20. Further, Guardian Industry’s Building Energy
Calculator has been chosen as the Product Resource of 2011 by the readers of the US Glass magazine. In addition, the company named Nik Frye as the Vice President of
Sales and Marketing.
In the financial services industry, on 13 and 18 January 2012, Luxembourg-based international central securities depository (ICSD) Clearstream held a Tax web and phone
conference to summarise the last changes made by the governments of various countries and their impact on tax procedures.
Luxembourg-based carbide developer Ceratizit introduced CTPM125, a notch resistant carbide grade for machining stainless steels.
Luxembourg-based sensing specialist IEE expanded the use of 3M's autostereoscopic film by launching a 3D film technology for retailers to promote their products at pole
displays, point-of-sale displays and kiosks.
In the entertainment industry, European entertainment network RTL Group has decided to exit from the Greek market, owing to the continued debt crisis in the region.
National Political Developments: Logwin AG, a global logistics service provider, opened its sales office in Chengdu, a western Chinese metropolis, to meet the increasing
demand in the region. Further, on 16 January, the Luxembourg Minister of Finance Luc Frieden visited Copenhagen, Denmark. During his visit, he met Denmark’s
Economic and Interior Affairs Margrethe Vestager and Minister of the Finance Bjarne Corydon to discuss the dossiers and priorities of the Danish Presidency of the Council
of the European Union which started on 1 January 2011. The Luxembourg Minister of Finance attended a roundtable organised by the Copenhagen Finance IT Region.
Further, on 18 January, the new President of the European Investment Bank (EIB) Werner Hoyer visited Luxembourg to discuss European political developments, especially
the economic and financial situation of the Eurozone, with Luxembourg Prime Minister Jean-Claude Juncker. In another development, over 21 January to 25 January,
Jeannot Krecké, the Luxembourg Minister of the Economy and Foreign Trade, and Frieden led a trade mission to Israel, which included companies from the information
and communication technologies (ICT) and automotive industries. In addition, On 23 January 2012, the Minister of Labour and Employment, Nicolas Schmit; the ADEM; the
Luxembourg Confederation of Commerce (CLC); the Luxembourg International University Institute (IUIL); and the Luxembourg School for Commerce (LSC) presented the
project “Fit4Commerce,” a new concept to better manage the orientation, insertion and re-integration of job seekers registered with the ADEM with focus on the trade
sector. Furthermore, on 26 and 27 January, the Luxembourg Finance Minister attended the World Economic Forum (WEF) in Davos. From 28 to 30 January, he and Claude
Wiseler, minister of the sustainable development and infrastructure, also visited Qatar to strengthen the business relations between the two countries. Further, on 30
January 2012, Juncker participated in the informal meeting of the European Council of Heads of State and Government held in Brussels. Further, on 31 January, Etienne
Schneider was sworn-in by HRH the Grand Duke in the presence of the Prime Minister at the Grand Ducal Palace.
European and International Political Developments: European governments have decided to enforce a ban on the export of Iranian oil after the ministers come to an
agreement at the national foreign ministers’ meeting in Brussels on 23 January. Further, the European Union (EU) initiated talks over the elimination of visa for the
citizens of Kosovo to travel to the Schengen zone. In another development, 25 members of the EU agreed to have a fiscal treaty for reinforcing budgetary discipline.
Stock Market Index
Figure 1 illustrates the performance of the Luxembourg Stock Exchange Index over December 2011–January 2012.
Figure 1: Luxembourg Stock Exchange Index (December 2011–January 2012)
Source: Luxembourg Stock Exchange Website
Table 2 summarises the key deals signed by Luxembourg-based companies in January 2012.
Table 2: Key Deals January 2012
S. No.
Luxembourg-based Company
Foreign Company
Country
Deal Size
Type of Deal
Status
1.
NA
NA
NA
NA
NA
NA
Headlines
News – Luxembourg-based Companies
2.1 International Momentum
2.1.1 ArcelorMittal
2.2 Management changes
2.2.1 Cargolux
2.1.1.1 ArcelorMittal Seeks Extension for Orissa Projects
2.1.1.2 ArcelorMittal’s Ukraine Unit Records Production Increase
2.2.1.1 Cargolux Names Richard Forson as New CFO
2.1.2 Cargolux
2.2.2.1 Guardian Auto Glass Names Nik Frye as VP, Sales and Marketing
2.1.2.1 Cargolux Introduces Third Weekly European Cargo Flight to Indiana
2.1.3 SES
2.1.3.1 SES, MagtiCom Launch MagtiSat in Georgia
2.1.3.2 SES Changes the Position of SES-3
2.1.4 Guardian
2.1.4.1 Guardian Launches SunGuard SNR 43
2.1.4.2 Guardian Introduces SunGuard IS 20
2.1.4.3 Guardian’s Building Energy Calculator Named Product Resource of 2011
2.1.5 Clearstream
2.1.5.1 Clearstream Hosts Tax Webinar
2.1.6 Ceratizit
2.1.6.1 Ceratizit Introduces Notch-Resistant Carbide Grade
2.1.7 IEE
2.1.7.1 IEE Introduces Retail Display Application
2.1.8 RTL Group
2.2.2 Guardian
News – National Political Developments
3.1.1.1 Logwin AG Expands Chinese Operations
3.1.1.2 Frieden Visits Copenhagen
3.1.1.3 New President of EIB Visits Luxembourg
3.1.1.4 Trade Mission to Israel
3.1.1.5 Presentation of the “Fit4Commerce” Project
3.1.1.6 Frieden Participates in WEF in Davos
3.1.1.7 Frieden, Wiseler Visit Qatar and the UAE
3.1.1.8 Juncker Participates in Informal Meeting of European Council of Heads of
State and Government
3.1.1.9 Schneider Takes Oath as Luxembourg Minister for the Economy and Foreign
Trade
EU News – European and International Political Developments
4.1.1.1 EU Bans Iranian Oil Imports
4.1.1.2 EU Initiates Discussions with Kosovars on Visa Requirements
4.1.1.3 EU Member States Agree on Tougher Budget Rules
2.1.8.1 RTL Group Sells Alpha Media Group
News – Luxembourg-based Companies
2.1 International Momentum
2.1.1 ArcelorMittal
2.1.1.1 ArcelorMittal Seeks Extension for Orissa Projects
Luxembourg-based steelmaker ArcelorMittal has requested the Orissa government to renew its memorandum of understanding (MoU) for the next five years, effective
December 2011. The steelmaker signed this MoU in 2006 to set up a 12 million tonnes per annum (mtpa) steel plant and a captive plant in the Keonjhar district (Patna)
for an investment of about EUR 5,96 billion (INR 400 billion). The project faced a number of challenges due to strong disagreements with local villagers over the land
acquisition process.
Source: Business Standard website, 3 January 2012
http://www.business-standard.com/india/news/arcelormittal-jspl-seek-mou-renewal-for-orissa-projects/460517/
Back to headlines
2.1.1.2 ArcelorMittal’s Ukraine Unit Records Production Increase
Luxembourg-based steelmaker ArcelorMittal’s unit ArcelorMittal Ukraine announced that its steel production increased by 13,9 percent to 547.600 metric tonnes in
December compared with 480.600 metric tonnes in December 2010. However, for the full-year 2011, the unit’s output declined to 5,7 million tonnes, from 6,1 million
tonnes in 2010.
Source: Bloomberg website, 11 January 2012
http://www.bloomberg.com/news/2012-01-11/arcelormittal-s-ukraine-unit-increases-production-in-december.html
Back to headlines
2.1.2 Cargolux
2.1.2.1 Cargolux Introduces Third Weekly European Cargo Flight to Indiana
Luxembourg-based cargo airlines Cargolux announced that its Boeing 747-400F aircraft will now carry medical products to Indiana every Sunday. The move was prompted
by the increase in cargo demand from Roche Diagnostics, Indianapolis. It is an addition to the existing two inbound flights, which have been operating for six years from
Luxembourg to Indianapolis. The new flight will also have capacity for additional cargo.
Sources: IBJ.com website, 13 January 2012; Air cargo world website, 19 January 2012
http://www.ibj.com/cargolux-adding-third-weekly-european-cargo-flight/PARAMS/article/31914
http://www.aircargoworld.com/Air-Cargo-News/2012/01/cargolux-increases-service-to-indiana/194601
Back to headlines
2.1.3 SES
2.1.3.1 SES, MagtiCom Launch MagtiSat in Georgia
Luxembourg-based satellite operator SES and MagtiCom, a Georgian mobile and telecommunication company, have launched MagtiSat, the first domestic direct-to-home
(DTH) satellite platform via ASTRA, in Georgia. MagtiSat will start broadcasting 23 January 2012 onwards and will offer 75 channels, including standard definition and
high-definition channels. It will use several ASTRA transponders at the 31,5 degrees East orbital position.
Source: Company website, 17 January 2012
http://www.ses.com/4233325/news/2012/9738265
Back to headlines
2.1.3.2 SES Changes the Position of SES-3
Luxembourg-based satellite operator SES announced that it has changed the position of SES-3, a satellite launched in July 2011, to 108.2° East to meet the growing
demand of the state-of-the-art, reliable satellite capacity in South Asia and the Middle East. The satellite will support video, voice, data and end-to-end communications
networks, among others. It will also help meet secure communication requirements of government customers.
Source: Company website, 31 January 2012
http://www.ses.com/4233325/news/2012/9835294
Back to headlines
2.1.4 Guardian
2.1.4.1 Guardian Launches SunGuard SNR 43
US-based float and fabricated glass manufacturer Guardian Industries has launched a glass coating, known as SunGuard SNR 43, for commercial applications. The product
offers a high light-to-solar-gain ratio and low solar-heat-gain coefficient (SHGC) of 0.23 on clear float glass. The company claims that the high-energy performance
product will help projects achieve leadership in energy and environmental design (LEED) qualifications.
Source: Company website, 4 January 2012
http://www.guardian.com/AboutGuardian/Newsroom/News/gi_022073
Back to headlines
2.1.4.2 Guardian Introduces SunGuard IS 20
US-based float and fabricated glass manufacturer Guardian Industries has launched its first interior surface coating for glass, SunGuard IS 20. The product, when used in
combination with any SunGuard coating, will ensure the increased effectiveness of Guardian’s advanced architectural glass.
Source: Company website, 11 January 2012
http://www.guardian.com/AboutGuardian/Newsroom/News/gi_022201
Back to headlines
2.1.4.3 Guardian’s Building Energy Calculator Named Product Resource of 2011
US-based float and fabricated glass manufacturer Guardian Industry’s Building Energy Calculator has been chosen as the Product Resource of 2011 by the readers of the US
Glass magazine. Building Energy Calculator is a free online tool for architects and builders. According to the customers, it is user friendly and a good resource for
retrofits.
Source: Company website, 17 January 2012
http://www.guardian.com/AboutGuardian/Newsroom/News/gi022211
Back to headlines
2.1.5 Clearstream
2.1.5.1 Clearstream Hosts Tax Webinar
Luxembourg-based international central securities depository (ICSD) Clearstream conducted a Tax web and phone conference on 13 and 18 January 2012. The webinar
summarised the last changes made by various governments and their impact on tax procedures.
Source: Company website, 10 January 2012
http://www.clearstream.com/ci/dispatch/en/listcontent/ci_nav/news/10_Headlines/44_2012/Content_Files/2012/new_120110.htm ?headline=
Clearstream_invites_you_to_a_Tax_Webinar
Back to headlines
2.1.6 Ceratizit
2.1.6.1 Ceratizit Introduces Notch-Resistant Carbide Grade
Luxembourg-based carbide developer Ceratizit has launched a new carbide grade CTPM125 for machining stainless steels. The product will enable hassle-free machining
of ferritic, martensitic, austenitic and duplex steels. It can be used for continuous and interrupted cutting, and can be applied from the finishing to the roughing stage. It
has a 20 percent longer tool life and a 30 percent higher cutting speed, which helps increase productivity.
Source: Company website, 12 January 2012
http://www.ceratizit.com/9557_ENG_HTML.htm
Back to headlines
2.1.7 IEE
2.1.7.1 IEE Introduces Retail Display Application
Luxembourg-based sensing specialist IEE has launched a 3D-film technology for retailers, thus expanding the use of 3M's autostereoscopic film. Retailers can use this
technology to promote their products at pole displays, point-of-sale displays and kiosks with 3D images that can be viewed with naked eyes. This will also help companies
to increase customer engagement at promotion events.
Source: PR newswire website, 16 January 2012
http://www.prnewswire.com/news-releases/iee-expands-3d-display-technologies-to-retail-applications-137421663.html
Back to headlines
2.1.8 RTL Group
2.1.8.1 RTL Group Sells Alpha Media Group
The European entertainment network RTL Group announced that it will exit from the Greek broadcasting market because of the ongoing debt crisis in the region. The
company has decided to sell its 70 percent share in Alpha Media Group to Dimitris Contominas, who will now become the sole owner. The transaction is likely to be
closed in the first quarter of 2012 after receiving an approval from the Greek Competition Commission.
Source: Company website, 5 January 2012
http://www.rtlgroup.com/www/press_releases/Press_Release_2012_01_05_RTL_Group_to_exit_Greek_broadcasting_market.pdf
Back to headlines
2.2 Management changes
2.2.1 Cargolux
2.2.1.1 Cargolux Names Richard Forson as New CFO
Luxembourg-based cargo airlines Cargolux announced that Richard Forson will be the company’s new Chief Financial Officer (CFO), replacing David Arendt, effective 1
February 2012. Forson has more than two decades of experience in financial, general business and operational management.
Source: Company website, 24 January 2012
http://www.cargolux.com/Press/PressReleases.php#
Back to headlines
2.2.2 Guardian
2.2.2.1 Guardian Auto Glass Names Nik Frye as VP, Sales and Marketing
US-based float and fabricated glass manufacturer Guardian industries has appointed Nik Frye as the Vice President of Sales and Marketing. Frye, with more than 35 years
of experience in the retail auto glass industry, will lead all sales/marketing strategies and initiatives for Guardian Auto Glass.
Source: Company website, 23 January 2012
http://www.guardian.com/AboutGuardian/Newsroom/News/gi_022246
Back to headlines
News – National Political Developments
3.1.1.1 Logwin AG Expands Chinese Operations
On 1 December 2011, Logwin AG, a global logistics service provider, opened its sales office in the western Chinese metropolis of Chengdu to meet the increasing demand
in the region. Logwin has been operating in China for more than 40 years and has 25 offices in 11 provinces. The company plans to set up nine offices in southern and
central China by 2015.
Sources: Heavy Lift website, 9 January 2012; Company website, 15 December 2011
http://www.heavyliftpfi.com/content/NewsItem.aspx?id=3753
http://www.logwin-logistics.com/uploads/media/111215_Logwin_Press_Release_China.pdf
Back to headlines
3.1.1.2 Frieden Visits Copenhagen
The Luxembourg Minister of Finance Luc Frieden visited Copenhagen in Denmark on 16 January. During his visit, he met Denmark’s Economic and Interior Affairs
Margrethe Vestager (also a representative of the Danish government to the Ecofin Council) and the Minister of Finance Bjarne Corydon. With Vestager, Frieden discussed
the dossiers and priorities of the Danish Presidency of the Council of the European Union, which started on 1 January 2011, mainly economic governance, some dossiers
related to taxation and the ones concerning financial regulation. After his meetings, Frieden participated in a roundtable organised by the Copenhagen Finance IT Region.
Source: Luxembourg government website, 16 January 2012
http://www.gouvernement.lu/salle_presse/actualite/2012/01-janvier/16-frieden/index.html
Back to headlines
3.1.1.3 New President of EIB Visits Luxembourg
The new President of the European Investment Bank (EIB) Werner Hoyer visited Luxembourg on 18 January and was received by the Luxembourg Prime Minister JeanClaude Juncker. They discussed the European political developments, especially the economic and financial situation of the Eurozone. The former State Secretary at the
federal ministry of the Foreign Affairs succeeded to Philippe Maystadt on 1 January 2012 as the President of the EIB for a renewable six years’ mandate.
Source: Luxembourg government website, 18 January 2012
http://www.gouvernement.lu/salle_presse/actualite/2012/01-janvier/18-hoyer/index.html
Back to headlines
3.1.1.4 Trade Mission to Israel
The Luxembourg Minister of the Economy and Foreign Trade Jeannot Krecké and the Luxembourg Minister of Finance Luc Frieden led a trade mission to Israel from 21 to
25 January, which included companies from the information and communication technologies (ICT) and automotive industries. In Jerusalem, Krecké had several political
meetings, where he met the Israeli Minister of the Industry, Trade and Employment Shalom Simhon, and the Minister of the Sciences and Technologies Daniel Hershkowitz.
The visits and meetings with economic actors happened mainly in the ICT, security related, life sciences, capital risk and incubators domains.
Source: Luxembourg government website, 21-25 January 2012
http://www.gouvernement.lu/salle_presse/actualite/2012/01-janvier/21-krecke/index.html
Back to headlines
3.1.1.5 Presentation of the “Fit4Commerce” Project
On 23 January 2012, the Minister of Labour and Employment, Nicolas Schmit; the ADEM; the Luxembourg Confederation of Commerce (CLC); the Luxembourg International
University Institute (IUIL); and the Luxembourg School for Commerce (LSC) presented the project “Fit4Commerce,” a new concept to better manage the orientation,
insertion and re-integration of job seekers registered with the ADEM with focus on the trade sector. Schmit said the project is spread out over 2012–2014 and has a
budget of EUR 640.000, half of which will be funded by the European social fund (ESF) and the other half by the Luxembourg employment fund.
Source: Luxembourg government website, 23 January 2012
http://www.gouvernement.lu/salle_presse/actualite/2012/01-janvier/23-schmit/index.html
Back to headlines
3.1.1.6 Frieden Participates in WEF in Davos
The Luxembourg Minister of Finance Luc Frieden attended the World Economic Forum (WEF) in Davos on 26–27 January. He had discussions with several Finance Ministers
and heads of industrial companies on the evolution of the global economy.
Source: Luxembourg government website, 26-27 January 2011
http://www.gouvernement.lu/salle_presse/actualite/2012/01-janvier/26-frieden/index.html
Back to headlines
3.1.1.7 Frieden, Wiseler Visit Qatar and the UAE
The Luxembourg Minister of Finance Luc Frieden visited Qatar from 28 to 30 January along with Claude Wiseler, the Luxembourg Minister for Sustainable Development and
Infrastructure, to strengthen the business relations meet several political and economic representatives of the country to strengthen the business relations between the
two countries. On 29 January, Frieden opened a seminar in Doha on the cooperation opportunities between the two financial places; the seminar was organised by
Luxembourg for Finance and the Qatar Financial Centre. He then met Qatari Finance Minister Youssef Hussain Kamal and had discussions with the new co-shareholder of
Dexia BIL, Precision Capital, on the implementation of the agreement in principle concluded in December 2011. Frieden also had meetings with Wiseler on Cargolux and on
its strategic development. On 30 January, Frieden led the delegation to Dubai in the United Arab Emirates (UAE) to hold a seminar on the same topic as the one held in
Doha.
Sources: Luxembourg government website, 28–31 January 2012; Luxembourg for Finance website, 29 and 31 January 2012
http://www.gouvernement.lu/salle_presse/actualite/2012/01-janvier/28-frieden-wiseler/index.html
http://www.lff.lu/nc/finance/news/news-detail/article/together-we-can-achieve-more/21/
http://www.lff.lu/nc/finance/news/news-detail/article/a-key-year-a-key-decade-and-how-luxembourg-can-help/21/
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3.1.1.8 Juncker Participates in Informal Meeting of European Council of Heads of State and Government
Luxembourg Prime Minister Jean-Claude Juncker participated in the informal meeting of the European Council of Heads of State and Government held in Brussels on 30
January 2012. The members of the European Council extensively discussed measures to boost growth, competitiveness and job creation, and adopted a common
declaration, focussing on three immediate priorities: the stimulation of employment, the completion of the single market and the re-start of the financing of the
economy, notably of SMEs. At the end of the meeting, Juncker made a statement that growth is possible only with healthy public finances, but having only fiscal
consolidation is not sufficient, growth impulses also have to be given. They approved the final version of the Treaty on stability, coordination and governance in the
economic and Monetary Union, which will be signed in March 2012. This treaty is a major step forward towards a more closely fiscal and economic integration and
stronger governance within the Eurozone.
Source: Luxembourg government website, 30 January 2012
http://www.gouvernement.lu/salle_presse/actualite/2012/01-janvier/30-conseil-eu/index.html
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3.1.1.9 Schneider Takes Oath as Luxembourg Minister for the Economy and Foreign Trade
On 31 January, Etienne Schneider was sworn-in by HRH the Grand Duke in the presence of the Luxembourg Prime Minister Jean-Claude Juncker at the Grand Ducal
Palace. Schneider takes office as head of the Ministry of the Economy and Foreign Trade, starting 1 February 2012, replacing Jeannot Krecké. Before the swearing-in of
Schneider, HRH the Grand Duke granted a hearing for leave to the former Minister Krecké.
Sources: Luxembourg government website and Luxembourg for Finance website, 31 January 2012
http://www.gouvernement.lu/salle_presse/actualite/2012/01-janvier/31-assermentation/index.html
http://www.lff.lu/nc/finance/news/news-detail/article/getting-the-job-done-away-from-the-cameras/21/
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EU News – European and International Political Developments
4.1.1.1 EU Bans Iranian Oil Imports
European governments have decided to enforce an Iranian oil embargo after they reached an agreement at the national foreign ministers’ meeting in Brussels on 23
January. Companies have been given the deadline of 1 July 2012 to phase out existing contracts. The decision will also allow Iranian companies to repay their debts to
European firms in the form of crude oil instead of cash.
Sources: EU business website, 17 January 2012; European voice website, 23 January 2012
http://www.eubusiness.com/news-eu/iran-nuclear-oil.ell/
http://www.europeanvoice.com/article/2012/january/eu-agrees-oil-embargo-on-iran/73292.aspx
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4.1.1.2 EU Initiates Discussions with Kosovars on Visa Requirements
The European Union (EU) has initiated discussions with the authorities in Pristina, Kosovo, regarding the elimination of visa for Kosovars to travel to Schengen. Kosovo
citizens will first receive the conditions they should fulfil to travel to the EU. The progress of the visa free regime is now dependant on the government of Kosovo.
Source: EU business website, 19 January 2012
http://www.eubusiness.com/news-eu/kosovo-talks-visa.end/
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4.1.1.3 EU Member States Agree on Tougher Budget Rules
On 30 January 2012, EU President Herman Van Rompuy said all member states, other than the UK and the Czech Republic, have agreed to join the fiscal treaty for
reinforcing budgetary discipline. The fiscal pact will require the countries to keep a check on their level of fiscal deficit and to take action if their public deficits rise
above an agreed limit. The new rule is the first step towards fiscal union and will be included in the constitutions of each country agreeing to it. The leaders will sign the
treaty in a summit to be held on 1 March 2012. It will come into force once it is approved by 12 member states.
Sources: EU business website and European voice website, 30 January 2012
http://www.eubusiness.com/news-eu/finance-public-debt.ew0/
http://www.europeanvoice.com/article/2012/january/25-countries-join-eu-fiscal-treaty/73369.aspx
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