- The pavilion proposed by the Luxembourg architecture firm Metaform--along with The Space Factor, a theatre planning outfit in Lyon--has been selected for the grand duchy’s presence at the 2020 World Expo held in Dubai. The interior of the 2,100m2 building will feature several overlapping levels, which evokes the image of Luxembourg City, according to Shahram Agaajani, a Metaform partner. Luxembourg’s budget for the expo is €25m although additional sponsors are still being sought.
- A proposal by a leading candidate for the French presidency could have a negative impact on the grand duchy’s insurance sector. Emmanuel Macron has suggested levying a 30% flat tax on all investment income over €150,000, including life insurance policies. That means interest payments on Luxembourg policies taken by French residents will be taxed in France, says Marc Hengen, managing director of Luxembourg’s Insurance Companies Association (ACA). Life insurance is a popular investment among the French: around 17m have them, representing around €1.6trn, and an increasing number have been taking more flexible Luxembourg products.
- 70 out of 74 employees held a quiet rally in front of the shuttered Alfa hotel on Friday, hoping a speedy reopening. The hotel abruptly closed on 15 March following a legal dispute between Rolphe Reding, who owns the building, and Accor, whose Mercur brand ran the hotel. Romain Daubenfeld of the OGBL trade union says three hotel groups are interested in taking over operations.
- Personal trainers are increasingly being hired by employers, says Thomas Nielsen, founder of the 10 year old fitness firm Coach at Home. Workplace contracts now account for 60% of his business. In addition to promoting wellbeing, sport can be used for teambuilding.
- The price of housing, excluding newly built detached houses, rose 7.7% last year in Luxembourg, compared to an average of 4.1% across the euro zone and 4.7% in the entire EU, reported Eurostat, the EU statistics agency.