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ルクセンブルクニュースレター　2011年2月号
皆様、
東日本大震災から2週間近くが経ちました。この未曾有の災害にあっては、人の生き死によりも大事なものはないということを改めて感じま
す。被災者を救い、復興に直接関わる尊い仕事を担う方々のある一方で、私たちは少しでも早く活力ある日本を取り戻せるよう前向きに経済交
流活動を続けたいと思います。
ルクセンブルク政府はＥＵの枠組みへの参加という形で日本政府への義捐金を拠出します。また、一般の人々もチャリティーイベント開催など
で日本への支援を呼びかけ義捐金を集めています。日本の被災者のために何かしたいという企業、個人からの問い合わせも多数受けました。
前回のニュースレターでお伝えしたとおり、今年はルクセンブルク関連イベントが多数予定されています。それぞれの詳細が確定しだい、順次
ご案内してまいります。どうぞよろしくお願いいたします。
北アフリカ、中東の革命のニュースからもソーシャルメディアが注目されていますが、ルクセンブルク経済のプロモーション機関ルクセンブル
ク・フォー・ビジネス（ＬｆＢ）では昨年からフェイスブックで英語による情報提供を行っています（http://www.facebook.com/pages
/Luxembourg-for-Business/67981088257）また、LinkedIn（欧米で普及している仕事関係中心のソーシャルメディア。英語）では、東京貿易投
資事務所のグループを設け、今後情報をアップしていきます（http://www.linkedin.com/groups/Luxembourg-Trade-Investment-Office-in3748852?mostPopular=&gid=3748852）。上記２つとも英語の枠組みなので、日本語のニュースは当方のウェブサイト
（www.investinluxembourg.jp）とニュースレターをこれまで同様活用していきます。
今後もどうぞよろしくお願いします。
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 February 2011, a number of events took place within and outside Luxembourg. Table 1 summarises the key developments in the month.
Table 1: Key Developments – February 2011
SEGMENT
NEWS
Company news
国内企業関連ニュース
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
National political
developments
国内･政治関連ニュース
ArcelorMittal to Look for Raw Materials Sourcing from Africa, Asia
アルセロール・ミタル、アフリカ、アジアから原料を模索
ArcelorMittal to Expand Steel Production in Brazil, Algeria, Germany
アルセロール・ミタル、ブラジル、アルジェリア、ドイツでの鉄鋼生産を拡大
Aperam Lists at Stock Exchanges in the Netherlands, France, Luxembourg; OTC Listing Planned in New York; to Upgrade Imphy
Production Site
アペラム、オランダ、フランス、ルクセンブルクの証券取引所に上場、ニューヨークでの店頭市場登録を予定；インフィ
の生産工場改修
ArcelorMittal, Nunavut Iron Ore Take Over Majority of Baffinland; Offer Expires
アルセロール・ミタル、ヌナブト準州鉄鉱石、バッフィンランド株の過半数を取得；
SES to Start Two New Satellites in 2011; Dedicates Five to Africa by 2015
SES新衛星2基を2011年に打ち上げ、2015年までに5基をアフリカに割り当て
SES World Skies to Back Expansion of DTH Operations in Asia; SES Astra to Launch DTH Platforms in CEE
SESワールド・スカイズアジアでのDTH事業を拡大、SESアストラDTH放送サーブスを中･東欧で提供
SES Astra, Deutsche Telekom to Offer Combined Services
SESアストラ、ドイツテレコム、複合サービスを提供
Paul Wurth, SMS Siemag, Merukh Iron and Steel to Jointly Build Two Integrated Steel Plants in Indonesia
ポール･ヴュルト、SＭＳジーマーク、メルク製鉄、インドネシアに総合製鉄所を2箇所共同建設
Five LuxairGroup Units Honoured for Waste Management Efforts
ルクスエアーグループ5つの部署、廃棄物管理に対する努力で表彰される
Guardian Industries to Expand Float Glass Production in Russia; Subsidiary to Construct Chrome-Plated Plastics Parts Plant in Mexico
ガーディアン・インダストリーズ、ロシアでのフロートガラスの生産を拡大、子会社、メキシコでクロムめっきプラスティク
部品工場を建設
·
·
·
·
·
·
·
·
·
·
Clearstream Allows Settlement of Singaporean Investment Funds
·
·
·
·
Chaux de Contern to Focus on Green Projects
クリアストリーム、シンガポール投資ファンドの決済を許可
RBC Dexia to Expand Services Provided to DBSAM
RBCデクシアDBSAMへのサービス提供を拡大
BNP Paribas Launches New Corporate Banking Strategy
BNPパリバ、新コーポレート・バンキング戦略を開始
RTL Group, Vodafone Sign IPTV Agreement
RTLグループ、ボーダフォンIPTV契約に調印
Jan De Nul Inaugurates New Headquarters in Luxembourg; to Expand Fleet by New Fall Pipe, Mining Vessel
ヤン・デ・ヌル、ルクセンブルクの新本社の落成式を行う；新捨石船、採鉱船で船隊を拡大
ショー・ド・コンテルン、グリーンプロジェクトに専心
Luxembourg Promotes Financial Sector in Gulf Region
ルクセンブルク、湾岸地域で金融セクターのプロモーション
·
·
·
·
European and international
political developments
欧州・国際政治関連ニュース
Luxembourg to Set Up a Free Zone at Findel Airport
ルクセンブルク、フィンデル空港にフリーゾーンを設置
Luc Frieden Announces Luxembourg Financial Sector Strategy, Created High Committee of Financial Place; Members of PBGL Meet
リュック・フリーデン、ルクセンブルク金融セクターの戦略を発表、金融セクター高等委員会設立、PBGLメンバーミー
ティング
·
·
CSSF Website to Provide Useful Information to Investment Funds
·
·
·
·
·
·
·
·
·
·
EU Energy Summit in Brussels; e-waste Directive Revised
CSSFウェッブサイトで投資ファンドに関する有益な情報を提供
EUエネルギーサミット ブラッセルで開催；電気電子機器廃棄物指令改正
EU Encourages Research, Innovation
EU、研究、イノベーションを促進
EU, South Korea Trade Pact Gets Parliamentary Nod
EU,韓国　貿易協定を議会で承認
Directive Passed to Fight Tax Fraud in EU
EUでの税金詐欺撲滅のための指令が可決
EU to Promote Green Energy in India
EU, インドでグリーンエネルギーをプロモート
Company News: Luxembourg-based steelmaker ArcelorMittal plans to acquire a 25 percent share in Sierra Leone-based iron ore exploration and development company African
Minerals Ltd. It also seeks to avail mining rights in Mongolian coal mine Tavan Tolgoi. Additionally, the steelmaker intends to increase production capacity at its subsidiaries in
Brazil, Algeria and Germany. ArcelorMittal’s spun-off stainless steel division Aperam has been listed on stock exchanges in the Netherlands, France and Luxembourg, and is
possibly going to be listed at the over-the-counter (OTC) market in the US. The division also plans to spend EUR 20 million to increase output at its subsidiary in France. In
another development, the group and Canadian mining company Iron Ore Holding’s subsidiary Nunavut Iron Ore Inc. acquired 93 percent outstanding common shares and 76
percent outstanding warrants of Canadian mining company Baffinland before the offer expired on 18 February 2011.
Further, Luxembourg-based satellite operator SES intends to send two satellites worth EUR 1 billion into orbit in 2011. The satellites will provide direct-to-home (DTH)
broadcasting services in the Middle East and Africa. The move is in addition to the company’s plans to launch by 2015 five satellites that will cater to the African market.
Moreover, Netherlands-based communications spacecraft operator SES World Skies plans to provide capacity on its satellites to encourage direct-to-home (DTH) services in
India and other Asian nations. In line with this, Luxembourg-based satellite operator SES Astra is planning to launch DTH services in Central and Eastern Europe (CEE).
Additionally, the company has signed a capacity agreement with German telecommunications company Deutsche Telekom, which will allow the German company to transmit
high definition (HD) programmes in Germany.
In the engineering field, Luxembourg-based company Paul Wurth plans to invest EUR 20 billion to set up two steel production sites in Indonesia in collaboration with
Germany-based metal and mining industries solutions provider SMS Siemag and Indonesian mining company Merukh Iron and Steel. In another development, US-based float and
fabricated glass manufacturer Guardian Industries plans to invest EUR 162.97 million to build a float glass plant in Russia. Its subsidiary SRG Global Inc commenced construction
of a chrome-plated plastics parts plant in Mexico, which entails an investment of EUR 18.52-25.92 million. Further, Belgium-based dredging major Jan De Nul has opened new
headquarters in Luxembourg, which will look after the company’s administrative affairs. Further, the company has entered into an agreement with Spain-based shipyard
Construcciones Navales del Norte (La Naval), which will supply fall pipe and mining vessel for mining and stone dumping to Jan De Nul.
In the airline industry, Luxembourg-based carrier airline LuxairGroup has been honoured by SuperDrecksKëscht®, an initiative of the Luxembourg government, for the waste
management efforts undertaken by five of its units.
In the financial services field, Luxembourg-based International Central Securities Depository (ICSD) Clearstream has allowed order routing, settlement and custody of
investment funds from Singapore through its platform Vestima+ and post-trade infrastructure Central Facility for Funds. Additionally, UK-based custodian bank RBC Dexia
Investor Services (RBC Dexia) will provide various administrative and financial services to Asia-based fund management company DBS Asset Management (DBSAM). In another
event, France-based global banking group BNP Paribas launched a strategy “One Bank for Corporates in Europe” on 10 February 2011. The strategy will enable the banking group
to provide services to corporate clients present throughout the world.
Luxembourg-based media group RTL Group and UK-based telecommunications company Vodafone Group entered into a deal to stream RTL’s channels as Internet Protocol
television (IPTV).
National Political Developments: In a bid to promote green energy, Luxembourg-based building materials specialist Chaux de Contern has entered into agreements with
German and United Arab Emirates (UAE) companies to develop sustainable housing projects. In another development, Crown Prince Guillaume of Luxembourg accompanied a
delegation headed by Luc Frieden, Finance Minister of Luxembourg, to meet ministers from Qatar, the UAE, Saudi Arabia and Lebanon. The delegation sought to promote
Luxembourg’s financial sector in the Gulf region. Additionally, Luxembourg plans to establish a logistics hub at Findel Airport in order to warehouse high-value goods and
provide insurance services. In another development, Luc Frieden, Finance Minister of Luxembourg, on 3 February 2011, announced the financial strategy for 2011 and the set
up of a High Committee of the Luxembourg financial sector that will work towards strengthening the financial structure of the economy. In addition to that, the members of
Private Banking Group of Luxembourg (PGBL) met to discuss ways to boost private banking in the country. In an additional effort to promote the financial sector, Luxembourg’s
financial supervision authority Commission de Surveillance du Secteur Financier (CSSF) has launched a separate space on its website that would provide information about
various investment funds in Luxembourg and the laws governing these funds.
European and International Political Developments: At the European Union (EU) Energy Summit held in Brussels on 4 February 2011, the EU leaders discussed plans to invest
EUR 200 billion by 2015 to link electric grids and gas pipelines within the EU countries. The move will ensure that the excess production in one country is absorbed by another.
Moreover, the European Parliament (EP) has agreed to change the e-waste directive in a bid to ensure better management of waste. Besides, the EU has set up the European
Institute of Innovation and Technology (EIT) and introduced Framework Programme for Research (FP7) and the Competitiveness and Innovation Framework Programme (CIP) in
order to boost research initiatives. Further, the EP has approved a free trade agreement (FTA) between South Korea and the EU. The agreement will facilitate better trading
opportunities. Additionally, on 15 February 2011, the European Council passed a directive that will allow exchange of information among EU countries to avoid tax frauds. In
another development, the EU has set up a European Business and Technology Centre (EBTC) in Bangalore to promote green energy in India.
Stock Market Index
Figure 1 illustrates the performance of the Luxembourg Stock Exchange Index over January – February 2011.
Figure 1: Luxembourg Stock Exchange Index (January–February 2011)
Source: Luxembourg Stock Exchange Website
Table 2 summarises the key deals signed by Luxembourg-based companies in February 2011.
Table 2: Key Deals – February 2011
S. No.
Luxembourg-based Company
Target Company
Country
Deal Size
Type of Deal
1.
ArcelorMittal
Baffinland Iron Mines Corporation
Canada
NA
Acquisition
Status
Completed
2.
SES Astra
Deutsche Telekom
Germany
NA
Capacity Agreement
Signed
3.
Paul Wurth
SMS Siemag, Merukh Iron and Steel
Indonesia
EUR 35 billion
Venture
Completed
4.
RTL Group
Vodafone Group
UK
NA
Agreement
Signed
Headlines
News – Luxembourg-based Companies
2.1 International Momentum
size=2 width="100%" noshade color="#cccccc" align=center>
2.1.9 RTL Group
2.1.1 ArcelorMittal
2.1.9.1 RTL Group, Vodafone Sign IPTV Agreement
2.1.1.1 ArcelorMittal to Look for Raw Materials Sourcing from Africa, Asia
2.1.10 Jan De Nul
2.1.1.2 ArcelorMittal to Expand Steel Production in Brazil, Algeria, Germany
2.1.1.3 Aperam Lists at Stock Exchanges in the Netherlands, France, Luxembourg; OTC 2.1.10.1 Jan De Nul Inaugurates New Headquarters in Luxembourg; to Expand Fleet by
Listing Planned in New York; to Upgrade Imphy Production Site
New Fall Pipe, Mining Vessel
2.1.1.4 ArcelorMittal, Nunavut Iron Ore Take Over Majority of Baffinland; Offer
Expires
News – National Political Developments
2.1.2 SES
2.1.2.1 SES to Start Two New Satellites in 2011; Dedicates Five to Africa by 2015
2.1.2.2 SES World Skies to Back Expansion of DTH Operations in Asia; SES Astra to
Launch DTH Platforms in CEE
2.1.2.3 SES Astra, Deutsche Telekom to Offer Combined Services
3.1 Major National Developments
size=2 width="100%" noshade color="#cccccc" align=center>
3.1.1.1 Chaux de Contern to Focus on Green Projects
3.1.1.2 Luxembourg Promotes Financial Sector in Gulf Region
3.1.1.3 Luxembourg to Set Up a Free Zone at Findel Airport
2.1.3 Paul Wurth
2.1.3.1 Paul Wurth, SMS Siemag, Merukh Iron and Steel to Jointly Build Two Integrated 3.1.1.4 Luc Frieden Announces Luxembourg Financial Sector Strategy, Created High
Committee of Financial Place; Members of PBGL Meet
Steel Plants in Indonesia
3.1.1.5 CSSF Website to Provide Useful Information to Investment Funds
2.1.4 Luxair
2.1.4.1 Five LuxairGroup Units Honoured for Waste Management Efforts
News – European and International Political Developments
2.1.5 GUARDIAN
4.1 Major International Events
2.1.5.1 Guardian Industries to Expand Float Glass Production in Russia; Subsidiary to
Construct Chrome-Plated Plastic Parts Plant in Mexico
2.1.6 CLEARSTREAM
2.1.6.1 Clearstream Allows Settlement of Singaporean Investment Funds
2.1.7 RBC DEXIA
2.1.7.1 RBC Dexia to Expand Services Provided to DBSAM
size=2 width="100%" noshade color="#cccccc" align=center>
4.1.1.1 EU Energy Summit in Brussels; e-waste Directive Revised
4.1.1.2 EU Encourages Research, Innovation
4.1.1.3 EU, South Korea Trade Pact Gets Parliamentary Nod
4.1.1.4 Directive Passed to Fight Tax Fraud in EU
4.1.1.5 EU to Promote Green Energy in India
2.1.8 BGL BNP Paribas
2.1.8.1 BNP Paribas Launches New Corporate Banking Strategy
News – Luxembourg-based Companies
2.1 International Momentum
2.1.1 ArcelorMittal
2.1.1.1 ArcelorMittal to Look for Raw Materials Sourcing from Africa, Asia
Luxembourg-based steelmaker ArcelorMittal seeks to increase its direct access to sources of raw materials for steel. Besides bidding for the rights to mine coal in the Tavan
Tolgoi coking coal mine in Mongolia, which is managed by PSU Erdenes MGL, the steelmaker plans to acquire a 25 percent stake in Sierra Leone-based iron ore project
development company African Minerals Ltd before January 2012.
Sources: Reuters, 1 February 2011; Steel Guru website, 11 February 2011
http://www.reuters.com/article/2011/02/01/mongolia-tolgoi-idINTOE71003A20110201
http://www.steelguru.com/raw_material_news/ArcelorMittal_seeking_25pct_stake_in_African_Minerals_-_Report/190503.html
Back to headlines
2.1.1.2 ArcelorMittal to Expand Steel Production in Brazil, Algeria, Germany
Luxembourg-based steelmaker ArcelorMittal plans to expand steel production at its Brazilian steel mills at Monlevade and Vega do Sul. ArcelorMittal Monlevade plans to invest
EUR 20 million until 2012 to double its steel production capacity, while ArcelorMittal Vega do Sul will spend EUR 148.16 million (USD 200 million) to add a new unit producing
500,000 tonnes of galvanised products annually by 2014. The new production line at the Vega do Sul mill, however, is subject to regulatory approval, which is expected by the
end of March 2011. Further, ArcelorMittal Annaba, the steelmaker’s subsidiary in Algeria, is planning to spend EUR 508.19 million (USD 686 million) to build a direct reduced iron
(DRI) plant and upgrade its coke batteries and blast furnace (BF). At the same time, ArcelorMittal Bremen GmbH, the steelmaker’s German subsidiary, is expected to invest
several million Euros to set up a modern 300 tonnes twin-ladle furnace, which will be operational in February 2012.
Sources: Steel Guru website, 7, 9 and 16 February 2011; Manufacturing.net website, 13 February 2011
http://www.steelguru.com/international_news/Siemens_VAI_to_expand_ArcelorMittal_Monlevade_LD_Steel_Works_in_Brazil/191257.html
http://www.steelguru.com/international_news/ArcelorMittal_to_increase_Vega_do_Sul_rolling_mill_capacity_to_2MTPA/189752.html
http://www.steelguru.com/middle_east_news/ArcelorMittal_Annaba_to_restart_coke_batteries_-_Report/190026.html
http://www.manufacturing.net/News/Feeds/2011/02/mnet-industry-focus-design-and-development-arcelormittal-bremen-orders-twin-ladle-furnace-fro/
Back to headlines
2.1.1.3 Aperam Lists at Stock Exchanges in the Netherlands, France, Luxembourg; OTC Listing Planned in New York; to Upgrade Imphy Production
Site
Luxembourg-based steelmaker ArcelorMittal's stainless steel spin-off Aperam has been listed on the NYSE Euronext stock exchanges in France and in the Netherlands, as well as
on the Luxembourg stock exchange. Further, there are plans to list Aperam at the over-the-counter (OTC) market in New York, US. In another development, the spun-off
stainless steel producer intends to invest EUR 20.5 million in upgrading its production site in Imphy, France, by adding new furnaces and a new building. The construction work
is expected to commence by mid-2012.
Sources: Fundamentals website, 21 February 2011; L’Express.fr website, 2 February 2011; Le JDC.fr website, 12 February 2011
http://fundamentalsmagazine.com/news/4184/bnp-paribas-completes-aperam-listing
http://votreargent.lexpress.fr/bourse/fiches-valeurs/actualite_dep.asp?id=149672
http://www.lejdc.fr/editions_locales/nevers/aperam_investit_20_5_millions_d_euros_pour_moderniser_l_acierie@CARGNjFdJSsBEhwCARo-.html
Back to headlines
2.1.1.4 ArcelorMittal, Nunavut Iron Ore Take Over Majority of Baffinland; Offer Expires
Luxembourg-based steelmaker ArcelorMittal and the Canada-based subsidiary of mining company Iron Ore Holdings LP, Nunavut Iron Ore Acquisition Inc. (Nunavut Iron Ore),
have acquired 93 percent of Canada-based mining company Baffinland Iron Mines Corporation’s (Baffinland) outstanding common shares and 76 percent of Baffinland’s
outstanding purchase warrants given out on 31 January 2007. The offer to tender Baffinland’s shares to ArcelorMittal and Nunavut Iron Ore officially expired on 18 February
2011. The remaining outstanding common shares and purchasing warrants, including those issued on 10 December 2009, are planned to be taken over by Acquireco, a company
jointly held by ArcelorMittal (70 percent) and Nunavut Iron Ore’s parent company Iron Ore Holdings (30 percent). The takeover is subject to the approval of the holders of
these shares and warrants in a meeting expected to be held on 22 March 2011.
Sources: Company website, 7 February 2011; Baffinland website, 18 February 2011
http://www.arcelormittal.com/index.php?lang=en&page=49&tb0=457&tblng=1
http://www.baffinland.com/Theme/Baffinland/files/EN_-_ARCELORMITTAL_NUNAVUT_ANDBAFFINLAND_ANNOUNCE_EXPIRY_OF_OFFER_TAKEUP_OF_ADDITIONAL_BAFFINLANDSECURITIES_AND_AGREEMENT_TO_PROCEED_WITH_SECOND.pdf
Back to headlines
2.1.2 SES
2.1.2.1 SES to Start Two New Satellites in 2011; Dedicates Five to Africa by 2015
Luxembourg-based global telecommunications satellite operator SES plans to send two new satellites worth EUR 1 billion into orbit in 2011. The satellites, SES-4 (NSS-14) and
SES-5 (Astra-4B), will provide direct-to-home (DTH) broadcasting services, especially in the Middle East and Africa. Moreover, the satellite operator intends to start five
satellites by 2015 to serve the African market.
Sources: Satellite Press website, 18 February 2011; AllAfrica.com website, 17 February 2011
http://www.satprnews.com/2011/02/18/ses-to-launch-two-new-satellites/
http://allafrica.com/stories/201102170174.html
Back to headlines
2.1.2.2 SES World Skies to Back Expansion of DTH Operations in Asia; SES Astra to Launch DTH Platforms in CEE
To support the growth of the Indian direct-to-home (DTH) market, Netherlands-based communications spacecraft operator SES World Skies has signed a contract to provide the
country with Ku-band capacity on 12 transponders on its SES-7 satellite for several years. Additionally, to further support DTH in India, as well as in Thailand, Vietnam and Laos,
SES World Skies will launch its SES-8 satellite, which will have 33 Ku-band transponders, in early 2013 at 95 degrees East orbital position. In another development,
Luxembourg-based satellite operator SES Astra, a sister company of SES World Skies, is likely to launch DTH platforms in Central and Eastern Europe (CEE). Negotiations are on
with three potential partners.
Sources: Company website, 14 and 17 February 2011; Broadband TV News website, 10 February 2011
http://www.ses.com/ses/siteSections/newsroom/Latest_News/index.php?pressRelease=/pressReleases/pressReleaseList/11-02-14/index.php
http://www.ses.com/ses/siteSections/newsroom/Latest_News/index.php?pressRelease=/pressReleases/pressReleaseList/11-02-17/index.php
http://www.broadbandtvnews.com/2011/02/10/more-dth-platforms-for-cee/
Back to headlines
2.1.2.3 SES Astra, Deutsche Telekom to Offer Combined Services
Luxembourg-based satellite operator SES Astra and Germany-based telecommunications company Deutsche Telekom have entered into a cooperative agreement. Deutsche
Telekom’s Internet Protocol television (IPTV) offer Entertain along with SES Astra’s satellite complete TV and radio range and its package of high definition (HD) digital
German-language satellite TV channels HD+ will be combined and will be made available all over Germany via a minimum three mbps digital subscriber line (DSL).
Source: Company website, 28 February 2011
http://www.ses.com/ses/siteSections/newsroom/Latest_News/index.php?pressRelease=/pressReleases/pressReleaseList/11-02-28/index.php
Back to headlines
2.1.3 Paul Wurth
2.1.3.1 Paul Wurth, SMS Siemag, Merukh Iron and Steel to Jointly Build Two Integrated Steel Plants in Indonesia
Luxembourg-based engineering company Paul Wurth, Germany-based metal and mining industries solutions provider SMS Siemag and Indonesian mining company Merukh Iron
and Steel plan to enter into a partnership to set up two integrated steel production sites in East Nusa Tenggara, Indonesia. The construction work on the plants, which are
estimated to cost EUR 20 billion, is expected to commence in August 2013. Further, EUR 10 billion will be directed towards infrastructure development and EUR 5 billion towards
corporate social responsibility (CSR) projects.
Source: Jakarta Globe website, 28 February 2011
http://www.thejakartaglobe.com/business/merukh-european-firms-plan-massive-steel-project-in-east-nusa-tenggara/425511
Back to headlines
2.1.4 Luxair
2.1.4.1 Five LuxairGroup Units Honoured for Waste Management Efforts
On 26 January 2011, five units of Luxembourg-based air transport umbrella entity LuxairGroup have been honoured by SuperDrecksKëscht®, an initiative of the Luxembourg
government, for their waste management efforts. LuxairGroup’s airline Luxair’s Technics division, tour operator LuxairTours, catering services provider LuxairServices
Catering, LuxairGroup’s central purchasing department and the canteen of LuxairGroup’s cargo centre received the SuperDrecksKëscht® fir Betriber quality label. Additionally,
the validity of the quality labels awarded to LuxairCargo and LuxairServices Ground Equipment in 2010 have been extended.
Source: Company website, 7 February 2011
http://www.luxair.lu/cms/luxair.php?p=EN,13268,198,,1,,
http://www.luxairgroup.lu/cms/luxair.php?p=,,,,,719dce5d4b50c42823ff748f9a020115,
Back to headlines
2.1.5 GUARDIAN
2.1.5.1 Guardian Industries to Expand Float Glass Production in Russia; Subsidiary to Construct Chrome-Plated Plastic Parts Plant in Mexico
US-based float and fabricated glass manufacturer Guardian Industries intends to construct another float glass plant in Krasny Sulin, Russia. The EUR 162.98 million (USD 220
million) plant is expected to become operational by mid-2012 and yield a daily output of 900 tonnes. The plant will focus on the production of energy-saving glass products that
can be used in multiple facilities. In another development, Guardian Industries Corp.’s US subsidiary, SRG Global Inc., a supplier of plastic coatings, started building a chromeplated plastic parts plant in Irapuato, Mexico, on 21 February 2011. The plant, entailing investments of EUR 18.52–25.93 million (USD 25–35 million), is expected to become
operational within the first three months of 2012.
Sources: Company website, 24 February 2011; Plastics News.com website, 21 February 2011
http://www.guardian.com/AboutGuardian/Newsroom/News/YearArchive/gi_016388
http://www.plasticsnews.com/headlines2.html?id=21203&channel=252
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2.1.6 CLEARSTREAM
2.1.6.1 Clearstream Allows Settlement of Singaporean Investment Funds
Luxembourg-based International Central Securities Depository (ICSD) Clearstream has started accepting investment funds from Singapore for order routing, settlement and
custody. The routing can be done through the ICSD’s platform Vestima+ and settlement can be done through Clearstream’s post-trade infrastructure Central Facility for Funds
with effect from 21 February 2011.
Source: Company website, 21 February 2011
http://www.clearstream.com/ci/dispatch/en/listcontent/ci_nav/news/30_Press/45_2011/Content_Files
/2011/press_110221.htm?headline=Singaporean_funds_available_for_settlement_in_Clearstream
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2.1.7 RBC DEXIA
2.1.7.1 RBC Dexia to Expand Services Provided to DBSAM
UK-based custodian bank RBC Dexia Investor Services (RBC Dexia) will take care of fund administration, custody, foreign exchange, cash management and transfer agency for
three funds of Asia-based fund management company DBS Asset Management (DBSAM), in addition to the existing mandates for DBSAM. The funds covered are the DBSAM China
Wage Dynamic Fund, the DBSAM China Rail Network Opportunities Fund and the DBSAM RMB Bond Fund.
Source: CNW website, 17 February 2011
http://www.newswire.ca/en/releases/archive/February2011/17/c3920.html
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2.1.8 BGL BNP Paribas
2.1.8.1 BNP Paribas Launches New Corporate Banking Strategy
France-based global banking group BNP Paribas introduced its new corporate banking strategy “One Bank for Corporates in Europe” on 10 February 2011. With this move, the
bank aims to create a central point of contact for corporate clients all over the world who need assistance in expanding their activities across Europe. The move is backed by
BNP Paribas’ international business centre network, which was created through a merger of the group with BGL and Fortis bank in 2009.
Sources: The Financial website and Tageblatt website, 10 February 2011
http://finchannel.com/news_flash/Banks/80653_BNP_Paribas_offers_corporates_a_unique_solution_to_support_them_with_their_European_operations/
http://www.tageblatt.lu/wirtschaft/story/30611792
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2.1.9 RTL Group
2.1.9.1 RTL Group, Vodafone Sign IPTV Agreement
Luxembourg-based media conglomerate RTL Group entered into a contract with UK-based telecommunications company Vodafone Group for the transmission of five of RTL’s
free TV channels (RTL, VOX, RTL II, SUPER RTL, n-tv), three of its paid TV channels (RTL Crime, Passion, RTL Living) and two HD channels (RTL HD and Vox HD) through Internet
Protocol television (IPTV).
Sources: NA Presseportal website and Broadband TV News website, 16 February 2011
http://www.presseportal.de/pm/72183/1766999/mediengruppe_rtl_deutschland
http://www.broadbandtvnews.com/2011/02/16/vodafone-germany-launches-hybrid-tv-platform/
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2.1.10 Jan De Nul
2.1.10.1 Jan De Nul Inaugurates New Headquarters in Luxembourg; to Expand Fleet by New Fall Pipe, Mining Vessel
Belgium-based dredging company Jan De Nul officially opened its new headquarters in Capellen, Luxembourg. The new location, which entailed an investment of EUR 25
million, will henceforth handle the company’s administrative responsibilities. In another development, the dredging company ordered another extra-large fall pipe and mining
vessel for mining and stone dumping. For this, the company inked a construction contract with Spain-based shipyard Construcciones Navales del Norte (La Naval) in February
2011. The order initiates the dredging company’s 2010 –2013 investment programme. The delivery is expected by the end of 2012.
Sources: L’Essentiel website, 16 February 2011; Company website, February 2011; Dredging News Online website, 7 February 2011
http://www.lessentiel.lu/fr/economie/story/18575195
http://www.jandenul.com/data/movies/Press/media/html/PR20110104/PR20110104_EN.html
http://www.sandandgravel.com/news/article.asp?v1=14196
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News – National Political Developments
3.1 Major National Developments
3.1.1.1 Chaux de Contern to Focus on Green Projects
Luxembourg-based building materials specialist Chaux de Contern and United Arab Emirates (UAE)-based sustainable technology company Convolant Emirates Group, along with
the German subsidiary of major consultancy and construction group MACE, are setting up a joint venture (JV) to develop innovative and sustainable Ecotech housing projects.
The JV plans to construct its first European clean-high-tech production facility in the near future.
Source: PR Newswire website, 1 February 2011
http://www.prnewswire.com/news-releases/convolant-emirates-chaux-de-contern-and-mace-group-launch-an-innovative-ecotech-housing-project-115021844.html
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3.1.1.2 Luxembourg Promotes Financial Sector in Gulf Region
To promote the financial sector in Luxembourg, the Crown Prince Guillaume of Luxembourg accompanied a delegation led by Luc Frieden, Finance Minister of Luxembourg, to
the Gulf region (Qatar, United Arab Emirates [UAE], Saudi Arabia, Lebanon) from 5 to 10 February 2011. During the visit, Frieden and the Crown Prince met political and
economical heads from the four countries and gave lectures in seminars organised by Luxembourg for Finance, the agency for development of the Luxembourg financial sector.
In Qatar, Frieden and his counterpart signed an economic partnership in several areas. Further, in a bid to support investments in Luxembourg, the Grand Duchy’s government
plans to open an embassy in Abu Dhabi.
Sources: Luxembourg government website, 5-10 February 2011; Tax-News.com website, 14 February 2011; WAM website, 7 February 2011; Gulf News.com website, 8 February
2011
http://www.gouvernement.lu/salle_presse/actualite/2011/02-fevrier/05-frieden/index.html
http://www.tax-news.com/news/Luxembourgs_Gulf_Tour_Strengthens_Economic_Ties____47736.html
http://www.wam.ae/servlet/Satellite?c=WamLocEnews&cid=1293605031170&pagename=WAM%2FWAM_E_Layout&parent=Query&parentid=1135099399852
http://gulfnews.com/business/investment/luxembourg-eyes-more-investment-from-uae-1.758600
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3.1.1.3 Luxembourg to Set Up a Free Zone at Findel Airport
Luxembourg is set to become a major logistics hub. On 10 February 2011, Jeannot Krecké, Minister of Economy and Foreign Trade of Luxembourg, declared that a working
group, headed by the Ministry of Finance and comprising of representatives of different ministries include the Ministry of Economy and Foreign Trade, is working to create a
free zone at the Findel airport, Luxembourg. The free zone will be dedicated to stocking of high-value items and ensuring the necessary security and conservation services. The
move is expected to benefit various sectors such as transport, handling agencies, security services, information and communication technologies (ICT), and building and
construction.
Sources: News352 website and L’Essentiel website, 11 February 2011; Luxembourg government website 10 February 2011; Luxembourg for Finance website, 15 February 2011
http://hello.news352.lu/edito-107234-luxembourg-to-become-a-major-cargo-hub.html
http://www.lessentiel.lu/fr/news/story/13585724
http://www.gouvernement.lu/salle_presse/actualite/2011/02-fevrier/10-krecke/index.html
http://www.lff.lu/finance/news/news-detail/article/luxembourg-as-a-european-logistics-hub/2/
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3.1.1.4 Luc Frieden Announces Luxembourg Financial Sector Strategy, Created High Committee of Financial Place; Members of PBGL Meet
On 3 February 2011, Luc Frieden, Finance Minister of Luxembourg, announced the country’s 2011 strategy for strengthening the financial sector. The strategy is based on asset
management, investment funds, international credit operations, insurance activities and financing structuring. To better promote the financial sector, Frieden created the High
Committee of the Luxembourg financial sector. The committee will be headed by him and involve the supervisory authorities and professional associations of the sector as well
as major legal firms, fiduciaries and the government. On the same day, the 57 members of the Private Banking Group, Luxembourg (PBGL, a group of members of the
Luxembourg Bankers’ association [ABBL] specialising in private banking), met and discussed ways to enhance Luxembourg’s private banking global competitiveness.
Sources: Luxembourg government website and News352 website, 3 February 2011; ABBL website, 8 February 2011
http://www.gouvernement.lu/salle_presse/actualite/2011/02-fevrier/03-frieden/index.html
http://hello.news352.lu/edito-106191-luxembourg-the-financial-centre-of-the-world-in-2011.html
http://www.abbl.lu/news-publications/news-archive/abbl-news/private-banking-group-pr%C3%A9sente-travaux-valoriser-attractivit%C3%A9-internationale-place-fina
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3.1.1.5 CSSF Website to Provide Useful Information to Investment Funds
On 28 February 2011, the Luxembourg financial supervision authority Commission de Surveillance du Secteur Financier (CSSF) introduced a dedicated space for Luxembourg
investment funds on its website. The operation aims at providing information on Luxembourg’s Undertakings for Collective Investment (UCI), Undertakings for Collective
Investment in Tradable Securities (UCITS) and Specialised Investment Funds (SIF). It also seeks to help professionals complete their electronic license application, which will
become compulsory in the second half of 2011. The dedicated space is accessible at www.cssf.lu/fonds-dinvestissement
Source: ABBL website, 28 February 2011
http://www.abbl.lu/news-publications/news-archive/other-news/instauration-environnement-opc-sur-site-internet-cssf
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News – European and International Political Developments
4.1 Major International Events
4.1.1.1 EU Energy Summit in Brussels; e-waste Directive Revised
At the European Union (EU) Energy Summit held in Brussels on 4 February 2011, European leaders discussed ways to decrease EU’s dependence on energy supply from non-EU
countries and decided to invest trillions of Euros for the purpose. The EU plans to invest EUR 200 billion by 2015 to link electricity grids and gas pipelines in the region to divert
the excess production to the countries where there is demand. The EU also plans to use nuclear energy as a major source of energy in the coming years and has a continued
focus on green energy. Further, the Members of European Parliament (MEPs) have voted in favour of a revision of the e-waste directive and have decided to provide financial
assistance to the scheme, which would improve the collection process and prevent improper treatments.
Source: EU Business website, 3 and 4 February 2011
http://www.eubusiness.com/news-eu/summit-energy.8hl/
http://www.eubusiness.com/news-eu/summit-energy.8h7/
http://www.eubusiness.com/Members/EEB/weee.11/
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4.1.1.2 EU Encourages Research, Innovation
The European Union (EU) has come up with a proposal for a Common Strategic Framework to promote scientific research and resolve global challenges. The EU has set up the
European Institute of Innovation and Technology (EIT) and is focussing on the Framework Programme for Research (FP7) and the Competitiveness and Innovation Framework
Programme (CIP) to revamp research and innovation in the region, especially targeting small and medium enterprises (SMEs).
Source: Balkans.com website, 11 February 2011
http://www.balkans.com/open-news.php?uniquenumber=93261
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4.1.1.3 EU, South Korea Trade Pact Gets Parliamentary Nod
The free trade agreement (FTA) between the European Union (EU) and South Korea has been approved by the European Parliament (EP) on 17 February 2011. The FTA, taking
effect in July 2011, will eliminate 99 percent of the duties on goods traded between the two sides and promises to increase bilateral trade two-fold to EUR 100 billion within the
next five years.
Sources: Bloomberg and BBC website, 17 February 2011
http://www.bloomberg.com/news/2011-02-17/eu-south-korea-trade-agreement-overcomes-final-european-hurdle.html
http://www.bbc.co.uk/news/business-12493775
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4.1.1.4 Directive Passed to Fight Tax Fraud in EU
On 15 February 2011, the European Council voted in favour of a directive that is expected to reinforce administrative cooperation related to direct taxation, and fight tax
evasion and tax fraud more efficiently. The directive stipulates European Union (EU) member states to share information on taxpayers even if the information is in the
possession of financial institutions. All EU member states have to adopt the directive with effect from 1 January 2013.
Sources: ABBL website, 15 February 2011; CFO World website, 16 February 2011
http://www.cfoworld.lu/index.php?option=com_content&task=view&id=2482&Itemid=80
http://www.abbl.lu/news-publications/news-archive/other-news-7
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4.1.1.5 EU to Promote Green Energy in India
The European Union (EU) has established a European Business and Technology Centre (EBTC) in Bangalore, India, in order to foster alliances between companies, researchers
and scientists in the EU and India; this is the fourth centre in India to be established. The focus will be on eco-friendly clean technologies, especially in biotech, energy,
environment and transport. The new South Indian centre will figure as an intermediary between public policy makers and private actors, and closely cooperate with EU-Indian
business associations and Indo-European chambers of commerce.
Sources: Business Standard website, 18 February 2011; Sify Finance website, 19 February 2011
http://www.business-standard.com/india/news/eu-seeks-rd-tieupssmes/425547/
http://www.sify.com/finance/eu-to-help-indian-firms-with-clean-technologies-news-default-lcruEhhjggh.html
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