- Pierre Gramegna, the finance minister, has defended the decision of BCEE, the state savings bank, to shutter seven out of its 72 branches. In response to a parliamentary question, he stated that the closures were purely based on “commercial and economic criteria”, such as changing demographics and increased use of electronic banking services.
- ING has taken possession of its new Luxembourg HQ, the former Kons shopping centre, across from the central train station. The bank’s roughly 700 employees will relocate from four different sites in the capital; ING will also open a new branch there. In addition, the building will have 2,400m² for shops and 3,500m² for housing.
- “Luc S.” was convicted of fraud and sentenced to 6 years in prison, a €15,000 fine and confiscation of property. His fake investment scam conned €1.4m out of nearly 60 victims.
- After 23 years at the helm of the CLC--the federation which represents the grand duchy’s trade, services and transport sectors--Thierry Nothum steps down on 31 March. In an interview, he said the greatest future challenge for CLC members would be managing the digital transition: “not just of e-commerce, but of the whole digital world that is sweeping the business [world]”.
- The number of students enrolled in English-language sections at Luxembourg state schools rose from around a hundred in the 2012/2013 school year to nearly 550 now. That’s according to the figures from the education ministry, and does not include places at the European schools, ISL and St George’s. A recent ministry survey found that 4 out of 5 expats thought that the lack of English-track places discouraged foreigners from relocating to the grand duchy. Nine out of ten reckoned more places would help recruit international talent.
An archive image of Pierre Gramegna, the finance ministers, addressing the Chamber of Deputies Maison Moderne