Luxembourg

Hinduja To Buy Belgian Private Bank For Euro 1.35 Bln

Hinduja To Buy Belgian Private Bank For Euro 1.35 BlnDiversified international conglomerate Hinduja group has decided to get hold of Luxembourg-based banking and insurance company KBC's private banking division for around Euro 1.35 billion.

The division, KBL European Private Bankers, is one of Europe's biggest onshore private banking groups with local affiliate banking institutions in 55 locations across 10 European nations.

KBL European Private Bankers had assets under management worth Euro 47 billion.

EU calls for inquiry into Sri Lankan abuse allegations

EU calls for inquiry into Sri Lankan abuse allegationsLuxembourg, Oct 28 - The European Union (EU) foreign ministers have expressed concern over the human rights situation in Sri Lanka and called for "an independent and credible enquiry" into alleged violation of international humanitarian law, EuAsiaNews reported.

EU hopes summit will break climate finance deadlock

EU hopes summit will break climate finance deadlockLuxembourg  - The European Union should be able to break its deadlock on how to fund the fight against climate change at a summit later this week, EU foreign ministers said Monday.

The bloc wants to agree on how it should pay poor countries to fight climate change before crucial United Nations talks in Copenhagen in December, but a bitter fight between Eastern and Western member states has deadlocked talks.

EU will not extradite suspects who face death penalty in US

european-unionLuxembourg - The European Union on Friday finalized an extradition deal with the United States that excludes suspects who may face the death penalty across the Atlantic.

"Extradition to the US will henceforth only be possible under the condition that the death penalty will not be imposed or, if for procedural reasons such a condition cannot be complied with, that the death penalty will not be carried out," EU ministers said in a statement.

The current prevailing practice is for the US to provide guarantees that it will not carry out an execution on a case-by-case basis only.

EU court ruling in favour of workers sacked while on parental leave

EU court ruling in favour of workers sacked while on parental leaveLuxembourg  - An employer who sacks a worker while they are on parental leave must base the severance pay on the worker's full-time salary, rather than on what they were earning while at home with the kids, the European Union court ruled Thursday.

The precedent-setting judgement has potentially huge ramifications for businesses across the EU, since it would apply to similar cases anywhere in the bloc.

Billions of euros in the balance in EU East-West emissions row

Billions of euros in the balance in EU East-West emissions row Luxembourg  - Billions of euros' worth of greenhouse-gas emission permits hung in the balance Wednesday as environment ministers from Eastern and Western Europe fought to break the European Union's deadlock on climate change.

Eastern members are fighting for the right to sell the permits, awarded to them by the Kyoto Protocol. But Western states say that using the permits would destroy efforts to stop global warming.

Billions of euros in the balance in EU East-West emissions row

Billions of euros in the balance in EU East-West emissions row Luxembourg  - Billions of euros' worth of greenhouse-gas emission permits hung in the balance Wednesday as environment ministers from Eastern and Western Europe fought to break the European Union's deadlock on climate change.

Eastern members are fighting for the right to sell the permits, awarded to them by the Kyoto Protocol. But Western states say that using the permits would destroy efforts to stop global warming.

EU postpones agreement on details of financial supervision

European-UnionLuxembourg  - European Union finance ministers Tuesday reached a "broad agreement" on the creation of a common financial supervision watchdog, but postponed tricky discussions on the details until a December summit amid ongoing concerns in Britain.

In a common statement, ministers said their meeting in Luxembourg had produce a "broad agreement" on the rules establishing a European Systemic Risk Board (ESRB) and the European Central Bank's role within the ESRB.

EU finance ministers seek difficult deal on climate financing

EU finance ministers seek difficult deal on climate financing Luxembourg  - An unlikely deal on how much European Union members should pay developing countries to help them deal with global warming change was on the table of EU finance ministers meeting in Luxembourg on Tuesday.

The European Commission says the world's richer nations should finance poorer nations to the tune of 100 billion euros (149 billion dollars) per year by 2020 to help them adapt to climate change.

And the EU's executive believes part of this sum - up to 15 billion euros - should come from European taxpayers.

EU calls for swine flu vaccine-sharing rules

EU calls for swine flu vaccine-sharing rules Luxembourg  - The European Union needs clear rules on how member states can share stockpiled vaccines against the human A(H1N1) variant of the swine flu virus to overcome shortages in some member states, health ministers meeting in Luxembourg agreed Monday.

The European Commission, the EU's executive, should "propose transparent mechanisms whereby a member state willing to do it can make available vaccines to another member state in order to address the shortage of safe vaccine," ministers agreed in a statement.

EU to extend strict rules on liquids in hand luggage

EU to extend strict rules on liquids in hand luggage Luxembourg - European airline passengers will have to endure strict anti-terrorism rules on liquids in hand luggage at least until 2012, since the technology needed to dispense with them is not yet available, the European Union's transport commissioner said Friday.

"We want to put out a clear, strong signal that restrictions in carrying liquids in hand luggage should come to an end one day," Commissioner Antonio Tajani said after a meeting of EU transport ministers in Luxembourg.

EU was right to cap mobile phone roaming charges, lawyer says

Luxembourg  - The European Union was right to put a cap on the charges mobile phone companies levy on customers who use their phones abroad, a top EU lawyer said Thursday.

The opinion comes as a blow to four of Europe's biggest mobile phone operators - Vodafone, Telefonica O2, Orange and T-Mobile - as they bid to scrap the EU's limit on roaming charges in a case presently before the European Court of Justice (ECJ).

According to the lawyer, the ECJ's Advocate General Miguel Poiares Maduro, the EU "was entitled to adopt the regulation" on roaming charges because of the high fees involved.

EU court overturns asset freeze on alleged Filipino terrorist

Luxembourg - The European Union was wrong to freeze the assets of Jose Maria Sison, a Filipino national accused of heading a terrorist group in the Philippines, the EU's court ruled Wednesday.

Sison has lived in the Netherlands since 1987, but the authorities there have repeatedly refused to grant him asylum or a residence permit, saying that he is the head of Communist terrorist group the New People's Army in his homeland.

Basing itself on the Dutch verdicts, the EU placed Sison on its list of terrorists and ordered that his assets be frozen.

EU court scraps Brussels cap on Polish, Estonian emissions

EU court scraps Brussels cap on Polish, Estonian emissionsLuxembourg  - The European Union's executive was wrong to impose a tight cap on industrial greenhouse gas emissions in Poland and Estonia and will have to scrap the limits it sought to impose, the EU's court in Luxembourg ruled Wednesday.

The two separate judgements comes at a critical time in EU climate talks, as rich and poor member states are grappling over the question of how they should fund the fight against climate change and how much each of them should pay.

EU court gives partial backing to Google in Louis Vuitton dispute

EU court gives partial backing to Google in Louis Vuitton dispute Luxembourg - Google's sale of trademark keywords to internet advertisers does not infringe European Union rules, the bloc's highest court said Tuesday.

However, national courts may object to the use made of such keywords by the search engine's AdWords advertising service, the court's advocate general said in a non-binding opinion.

The case pits Google against French luxury maker Louis Vuitton, which objects to the fact that some AdWords advertisements point to the sale of counterfeit products.

EU court in setback ruling for European betting websites

EU court in setback ruling for European betting websites Luxembourg - In a potential setback for internet betting sites operating in Europe, a European Court ruled Tuesday that governments can ban them in order to combat fraud and crime.

The case before the European Court of Justice in Luxembourg pitted the Portuguese government against bwin International Ltd, one of Europe's biggest online gambling operators.

ArcelorMittal posts quarterly loss amid recovery signs

ArcelorMittal posts quarterly loss amid recovery signsLuxembourg - ArcelorMittal, the world's largest steel producer, said Wednesday that sales over the second quarter of 2009 were less than half of the same period last year.

The Luxembourg-headquartered firm said that sales were down to 11.1 billion euros (15.7 billion dollars), from 24.2 billion in Q2 2008.

Second quarter results were a net loss of 581 million euros, the third quarterly loss the firm has posted in a row.

Luxembourg taken off tax transparency "grey list"

Luxembourg taken off tax transparency "grey list"Luxembourg  - Luxembourg has been removed from a "grey list" of countries seen by the Organization for Economic Cooperation and Development (OECD) lacking financial transparency, the country's Budget Minister Luc Frieden said Wednesday.

The Paris-based OECD has put the Grand Duchy on its grey list over complaints that it did not do enough to cooperate with other countries over tax affairs.

"As of this afternoon Luxembourg will be on the OECD tax haven white list," Frieden said.

EU court rules "Bavarian" beer must come from Bavaria

EU court rules "Bavarian" beer must come from BavariaLuxembourg  - A European court ruled Thursday that "Bavarian" beer can only come from the southern German region, in a move that could force one Dutch producer to change the name of its brew.

The case was referred to the Luxembourg-based European Court of Justice by a court in Italy following complaints from Bayerischer Brauerbund, a German association of about 650 Bavarian brewers, which objected to the sale in Italy and other EU countries of Dutch "Bavaria" beer.

ECB expected to leave interest rates on hold

ECB expected to leave interest rates on holdLuxembourg  - The European Central Bank meets Thursday with the ECB expected to leave interest rates on hold as it sizes up the economic fallout from the global recession.

Analysts are expecting the ECB to leave rates in the 16-member eurozone unchanged at a record low of one per cent this week with many economic forecasters believing that borrowing costs in the currency bloc will remain on hold well into 2010.




Check out More news from Recruitment News :: Admissions :: Exam Results :: Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate


Syndicate content