Luxembourg imposes net wealth tax (NWT) on Luxembourg companies based on their unitary value, i.e. the adjusted net asset value as determined, in principle, as at 1 January of each year, at the rate of 0.5% lexology.com/library/detail.aspx?g=c917f2f6-4be3-4221-844d-7bec60ce43fd Luxembourg (Ire) (Camelot {GB}) and Highfield Princess (Fr) (Night of Thunder {Ire}) are among 16 elite-level winners and 25 overseas-based horses that have been extended invitations to the Longines Hong Kong International Races meeting at Sha Tin Racecourse Sunday, Dec. 9. Luxembourg, Highfield Princess Among 16 Group 1 Winners Invited to Longines HKIR (thoroughbreddailynews.com) Fall foliage surrounds the sandstone formations of the Gorge du Loup in Echternach, Luxembourg. The natural wonder is right on the doorstep of Echternach, which was founded in 698 and is Luxembourg's oldest town. Spa and Echternach: Deluxe walking, gawking in Belgium and Luxembourg | Stars and Stripes The broadcaster has reported that the selection process has transitioned towards the audition phase, selecting 70 songs from 50 artists from a pool of almost 500 songs. eurovoix.com/2023/11/22/luxembourg-updates-on-selection-process-for-eurovision-2024 Doris Woltz's resignation as director of the Service de Renseignement de l'État (SRE) was formally accepted on 16 November, according to the country's legal gazette.She was leaving her post after seven years due to her "personal intent to retire from public service", according to an SRE spokeswoman. euobserver.com/world/157727 The CTC and associated Luxembourg Protocol (together, the “Convention”) aims to provide a consistent and stable legal framework for rolling stock secured creditors and lessors internationally.   wfw.com/articles/the-luxembourg-protocol-what-do-you-need-to-know? The Ministry for Digitalisation and the CTIE will participate in testing the national digital wallet against variables like speed and efficiency when verifying and onboarding a citizen to access government services.   identityweek.net/luxemburg-endeavours-to-test-four-digital-wallet-use-cases-for-european-openness?

Luc Frieden will be the new Prime Minister. Former PM, Bettel, would return as Foreign Minister in the new Luxembourg government. politico.eu/article/luxembourgs-bettel-return-foreign-minister-new-government The strong delegation of Luxembourg companies shall be spearheaded by the Ambassador of Luxembourg to India, Her Excellency, Peggy Frantzen, and other delegate members from the country. indianexpress.com/article/cities/kolkata/bengal-global-business-summit-partner-country-luxembourg-to-focus-on-energy-and-manufacturing-9034080 Domestic employment in Luxembourg nearly doubled from 264,000 on average in 2000 to a 502,600 in 2022, data published by statistics agency Statec on Friday shows.In Luxembourg, more than 40%, or 214,000 workers, commuted across the border, data from the report showed. luxtimes.lu/luxembourg/luxembourg-workforce-nearly-doubled-in-last-two-decades/4814600.html Luxembourg has earned the top spot in their 2023 “European Life-Work Balance Index”. Luxembourg received an index score of 85.26 out of 100, followed by Spain (78.63) and France (77.19).    researchluxembourg.org/en/luxembourg-ranks-first-in-europe-for-its-work-life-balance Estonia and Luxembourg have taken steps to establish secure digital ID wallets that will digitize public services and meet the new European digital identity regulation. biometricupdate.com/202311/european-digital-id-wallets-piloted-in-estonia-and-luxembourg? The specialists already have a clear use for geothermal heat in mind – geothermal heating can be supplied to the new building districts of Nei Schmelz in Dudelange and Metze Schmelz in Schifflange. Seismic survey to commence for Luxembourg geothermal exploration (thinkgeoenergy.com) The #Vietnamesecommunity in #Luxembourg has shown their belief in the prospect of the relations between the two countries, hoping that cooperation will be expanded from the economic and financial areas to cultural exchange. Overseas Vietnamese in Luxembourg believe in prospects of bilateral relations | Society | Vietnam+ (VietnamPlus) In his time at the helm of Luxembourg’s foreign ministry, Asselborn has seen dozens of EU leaders and ministers come and go. Luxembourg — a tiny multilingual country where German and French are commonly spoken — has often served as a mediator between the EU big beasts Berlin and Paris. Veteran Luxembourg foreign minister quits stage after two decades – EURACTIV.com

Luxembourg legalised medical cannabis in February 2019 and has regularly faced shortages ever since.   businessofcannabis.com/is-luxembourg-heading-for-a-medical-cannabis-shortage Anett Kontaveit has won the Luxembourg Ladies Tennish Masters final in two sets, overcoming former top German player Andrea Petkovic 7:5, 6.2 on Sunday Anett Kontaveit wins Luxembourg Ladies Tennis Masters | News | ERR Luxembourg has invested EUR 5.9 million (USD 6.36 million) in flexible and thematic funding to UNDP for 2023.   undp.org/news/luxembourg-invests-undp-tackle-poverty-inequalities-and-overlapping-global-crises More than 400 animals, mainly cats and dogs, have been rescued from a trafficking network in Spain. bbc.com/news/world-europe-67151237 Need help with your social media management? Flywheel Social Media Marketing Services  can do it for you. luxembourgexpats.lu/local-business/business-to-business/1100001019 It all started with a mouse. Or, more precisely, a house.   bbc.co.uk/news/extra/NUgROc189X/disney-100-years Austria, Luxembourg, and Croatia voted against the proposed extension. EU countries fail to agree on 10-year extension for glyphosate use | Euronews

Take the First Step Towards the Future with Solar Energy! Did you know you can lower your electricity bills while also helping the environment? With our solar panel installation services, it's now possible. Get ready for a revolution in energy supply and join the hundreds of satisfied customers who have already benefited from our services. Why Invest in Solar Energy? Savings on Bills: Solar panels allow for significant reductions in electricity costs. With them, you can produce your own energy, which means lower electricity bills. Environmental Protection: By harnessing solar energy, you reduce carbon dioxide emissions and contribute to the fight against climate change. It's an investment in the future of our planet. Energy Independence: With a solar panel installation, you become less reliant on traditional energy suppliers. We guarantee you a consistent supply of electricity, regardless of market conditions. Property Value: Adding solar panels to your home increases its market value. It's an investment that pays off not only now but also in the long run. Our Services Our company specializes in solar panel installations. Our experienced professionals will assist you at every stage of the process, from project planning and selecting the best system to panel installation and regular maintenance. We ensure that your installation is tailored to your needs and expectations. Why Choose Us? Experience and Professionalism: Our company has years of experience in the solar industry, ensuring top-quality service. Cutting-Edge Technology: We stay updated with the latest advancements in solar technology and implement the most current solutions. Competitive Prices: We offer attractive pricing and various financing options to make solar energy accessible to everyone. Customer Support: Our team provides expert advice and assistance at every project stage. Invest in the future and join the ranks of hundreds of satisfied customers who have already embraced solar energy with our installation services.  Contact us today to learn more and receive a free cost estimate tailored to your needs. With us, solar energy becomes accessible to all!  Solar - Expert  solar-expert.lu 

August 2023 published - procedure may vary from time-to-time Luxembourg is an attractive country for working in Europe. The country has high availability of professionals jobs, particularly in finance, legal and IT roles. c. 48% of the entire residents in Luxembourg are non-Luxembourgers. This is well-recognised and the country is welcoming to its expats population. We here outline the general procedure for securing Luxembourg work-permit for third-country nationals (non-EU nationals). Luxembourg has good resources published to this extent. However, the resources can be overwheling and we therefore aim this to be a good starting point with relevant references. Note that this is a general procedure and might change or be different depending on your individual situation. The general procedure for non-EU nationals: 1. Get a temporary authorisation (before entering the country) - procedure for temp authorisation guichet.public.lu/en/organismes/organismes_citoyens/ministere-affaires-etrangeres/direction-immigration-service-etrangers.html 2. Get a long-term visa (type D) (before entering the country) - apply for an entry visa guichet.public.lu/en/citoyens/immigration/plus-3-mois/ressortissant-tiers/demarches-communes/entree-visa.html - This step can be skipped IF "If the non-EU national has a residence permit as a family member of an EU citizen or a valid residence permit issued by another EU Member State, a visa is not required."  source: guichet.public.lu/en/citoyens/immigration/plus-3-mois/ressortissant-tiers/demarches-communes/entree-visa.html 3. Arrive in Luxembourg 4. Register in the local commune (after entering the country) - Declaration of arrival: guichet.public.lu/en/citoyens/immigration/nouveau-resident-luxembourg/arrivee-luxembourg/depart-arrivee-commune.html - You need a rental agreement or an electricity bill to do this. Hotel and Airbnb stays are not accepted. 5. Undergo a medical check (after entering the country) - guichet.public.lu/en/citoyens/immigration/plus-3-mois/ressortissant-tiers/demarches-communes/controle-medical.html 6. Apply for residence permit within 3 months of arrival to Luxembourg (after entering the country) - At this point you should have done the medical check, registered in the local commune before applying for the residence permit. - Apply within 3 months of arrival in Luxembourg - Register to MyGuichet (Luxembourg government portal) myguichet.lu - Apply online using MyGuichet guichet.public.lu/en/entreprises/ressources-humaines/recrutement/ressortissant-pays-tiers/salarie.html The above must serve as a good starting point. Don't forge to adapt to your individual situations. For housing or other types of insurance, you can contact expat friendly insurance agents here: luxembourgexpats.lu/local-business?search=insurance ---- Luxembourg Expats is founded by expats, for expats with a mission to make life easier in Luxembourg. Register for Free and meet fellow expats with our mobile apps: Download iOS: apps.apple.com/gb/app/luxembourg-expats/id6450868822 Download Android: play.google.com/store/apps/details?id=com.luxexpats.luxexpatsmobile

On July 20, 2023, the Luxembourg Parliament passed a law called the Reform, which modifies the right of establishment in Luxembourg. The Reform aims to update the Business License Law from September 2, 2011, which governs access to various professions, to align with changes in regulations, economics, technology, and entrepreneurship. Key Changes and Points: 1.     Purpose of the Reform: The Reform seeks to adapt the Business License Law to changing environments and encourage entrepreneurship. 2.     Effective Date: The Reform becomes effective on the fourth day after its publication in the official gazette. A two-year transitional period starting from September 1, 2023, is granted for businesses to comply with new provisions. 3.     New Cumulative Conditions for Business License Holders: Business license holders must meet new cumulative conditions, including professional qualification, good repute, effective and permanent management (with physical presence), and no history of evading social security and tax obligations. 4.     Real Link with Company: Business license holders no longer need to be a partner, shareholder, or employee of the company. Instead, they must have a real and effective link with the company, demonstrated by ownership or registration as the company's representative. 5.     Disqualifying Criteria for Professional Integrity: The Reform adds new criteria for assessing professional integrity, including compliance with filing obligations, registration requirements, and tax returns. 6.     Conditions for Changing Business License Holder: Certain conditions must be met for a new business license to be issued when changing the business license holder, including no excessive social security and tax debts, up-to-date tax declarations, and compliance with filing obligations. 7.     Notification of Events: Certain events, like changes in the business license holder's residence or the creation of a branch, must be notified to the minister responsible for business licenses. 8.     Facilitating Business Transfers: The Reform introduces provisions for the provisional transfer of a business license to an employee in case of death, disability, or retirement of the company's manager in certain craft activities. 9.     New Chance for Entrepreneurs: Entrepreneurs who faced bankruptcy may have a chance to obtain a new business license under certain conditions, including proof of bankruptcy reasons and payment agreements with public creditors. 10. Supervision of Activities: Specific licenses will be required for renting shared offices/workspaces and certain short-term rental activities. Real estate business providers will need training. Consumer protection is enhanced through digitalization and display of business license information. 11. Issuance of Business License: Business licenses will be issued based on requests and administrative instructions demonstrating compliance with the Business License Law. A two-dimensional barcode will provide access to license information. In summary, the Reform introduces changes to the Business License Law in Luxembourg to adapt to evolving business environments, enhance professional integrity, and encourage entrepreneurship while ensuring consumer protection. More info: globalcompliancenews.com/2023/08/04/https-insightplus-bakermckenzie-com-bm-mergers-acquisitions_5-luxembourg-reform-of-the-right-of-establishment_08012023

Once upon a time in the enchanting land of Luxembourg, a small but mighty country nestled in the heart of Europe, a remarkable transformation was taking place in the realm of real estate. Luxembourg, known for its picturesque landscapes, rich cultural heritage, and thriving economy, was experiencing a surge in demand for luxurious properties. In this vibrant setting, a key player emerged, captivating the hearts and minds of those seeking exquisite homes - Sotheby's International Realty. As the premier global real estate brand, Sotheby's International Realty entered the Luxembourg market with a flourish, bringing with it a legacy of excellence and a commitment to delivering extraordinary service. With its unwavering dedication to showcasing unique and exclusive properties, Sotheby's International Realty became an integral part of the Luxembourg real estate landscape, setting new benchmarks of elegance and sophistication. Luxembourg, known for its multicultural flair and thriving financial sector, attracted a diverse clientele, ranging from affluent locals to international investors. Sotheby's International Realty's unparalleled expertise and global network allowed them to connect buyers and sellers from around the world, ensuring seamless transactions and exceptional experiences. Their deep understanding of the local market dynamics and their ability to curate an exceptional portfolio of properties made them the go-to destination for luxury real estate in Luxembourg. The Sotheby's International Realty website for Luxembourg, https://www.sothebysrealty.lu/, quickly became the virtual gateway to the most prestigious homes in the country. With its sleek design and user-friendly interface, the website offered a seamless browsing experience, allowing prospective buyers to explore a stunning array of properties. From grand castles steeped in history to contemporary penthouses boasting breathtaking views, every listing showcased the unique charm and opulence that Luxembourg had to offer. Sotheby's International Realty's dedication to exceptional customer service went beyond the digital realm. Their team of experienced real estate professionals in Luxembourg ensured that every client received personalized attention and guidance throughout their real estate journey. Whether it was finding the perfect home or negotiating the best deal, Sotheby's International Realty's agents were renowned for their professionalism and integrity. As time went on, Sotheby's International Realty continued to play a pivotal role in the Luxembourg real estate market, setting new records, and connecting discerning buyers with extraordinary properties. Their unwavering commitment to excellence and their ability to capture the essence of luxury living made them an indispensable force in the realm of real estate in Luxembourg, forever leaving an indelible mark on the country's landscape.

Our ambition is to build a community that can share and help each other manage personal finances effectively. We also aim to bring-in experts who can share tips, suggestions and interesting information about managing personal investments. Managing personal finances is essential for financial stability and security, regardless of where you live. Here are some ideas on how to manage personal finances for Luxembourg residents: Create a budget: The first step in managing personal finances is to create a budget. This will help you track your income and expenses and identify areas where you can cut back on spending. Save for emergencies: It is important to have an emergency fund to cover unexpected expenses, such as medical bills or car repairs. Aim to save at least three to six months' worth of living expenses. Pay off debts: If you have any outstanding debts, such as credit card balances or loans, prioritize paying them off. This will help you save money on interest charges and improve your credit score. Invest for the future: Consider investing in a retirement account, such as a 401(k) or individual retirement account (IRA). Luxembourg offers several tax-efficient retirement savings options, such as the Pension Savings Plan (PSP) and the Pension Savings Contract (PSC). Get insurance: Make sure you have adequate insurance coverage for your home, car, and health. This will help protect you financially in case of an unexpected event. Seek professional advice: If you are unsure about how to manage your personal finances or need help with financial planning, consider seeking the advice of a financial advisor or planner. They can provide personalized guidance and help you create a financial plan tailored to your needs. Managing personal finances for Luxembourg residents involves creating a budget, saving for emergencies, paying off debts, investing for the future, getting insurance, and seeking professional advice. By taking these steps, you can achieve financial stability and security for yourself and your family. Luxembourg is a popular location for managing personal investments because of its favorable tax regime, political stability, and well-developed financial industry. Here are some key points on why and how people can manage personal investments in Luxembourg: Tax benefits: Luxembourg offers tax benefits for investors, including no withholding tax on dividends, interest, and royalties paid to non-residents, and no capital gains tax on the sale of shares. Political stability: Luxembourg has a stable government and is a member of the European Union, which provides investors with confidence in the country's legal and regulatory environment. Well-developed financial industry: Luxembourg is a hub for the financial industry, with a wide range of financial institutions and professionals offering services to investors. To manage personal investments in Luxembourg, individuals can take the following steps: Open a bank account: The first step in managing personal investments in Luxembourg is to open a bank account. This can be done by visiting a bank branch in Luxembourg or by setting up an account remotely. Choose an investment vehicle: Luxembourg offers a range of investment vehicles, including mutual funds, exchange-traded funds (ETFs), and investment trusts. Investors should consider their investment goals and risk tolerance when choosing an investment vehicle. Seek professional advice: It is recommended that investors seek the advice of a financial advisor or investment professional when managing personal investments in Luxembourg. This can help investors make informed decisions and navigate the complex regulatory environment. Monitor investments: Once investments are made, it is important to monitor them regularly to ensure that they are performing as expected and to make adjustments if necessary. Managing personal investments in Luxembourg can provide tax benefits, political stability, and access to a well-developed financial industry. To do so, individuals should open a bank account, choose an investment vehicle, seek professional advice, and monitor investments regularly. Join our Finance community and share information and learn from others facebook.com/groups/financeinluxembourg

The Job market in Luxembourg: Luxembourg is a small, landlocked country in Western Europe, known for its strong economy and high standard of living. The job market in Luxembourg is diverse and offers opportunities in a variety of industries. Some of the most significant industries in Luxembourg include finance, information technology, and logistics. The financial sector is one of the largest employers in Luxembourg, with many multinational banks and financial institutions having a presence in the country. The country is also home to the European Investment Bank (EIB), which is a major source of employment for professionals in the finance industry. The information technology sector in Luxembourg is also growing rapidly, with many companies choosing to establish their headquarters in the country due to its favorable tax policies and central location in Europe. The government has also made significant investments in digital infrastructure, making it an attractive location for technology companies. In addition to finance and technology, Luxembourg is also a hub for logistics and transportation. With its central location in Europe, the country is an important transportation hub for goods and services moving across the continent. Overall, the job market in Luxembourg is highly competitive, but also offers many opportunities for skilled professionals across various industries. With its strong economy, high standard of living, and favorable tax policies, it remains an attractive location for international workers looking to advance their careers. Getting a job in Luxembourg involves some steps, including: Research: Start by researching the job market in Luxembourg. Look for job openings in your field, as well as the qualifications required for those positions. Network: Networking is crucial in Luxembourg. Attend job fairs, conferences, and other events where you can meet people in your field. Join professional organizations and attend their meetings. Update your CV: Your CV should be tailored to the Luxembourg job market. Make sure it includes your work experience, education, skills, and any relevant certifications. Apply for jobs: Once you have identified job openings that match your skills and experience, send in your application. You can apply online through job portals, or directly to the company. Interview: If your application is successful, you will be invited for an interview. Research the company and prepare for the interview by practicing your answers to common questions. Work permit: If you are a non-EU citizen, you will need a work permit to work in Luxembourg. Your employer will assist you with this process. Relocation: If you are not already living in Luxembourg, you will need to relocate. Look for accommodation and research the cost of living. Start your job: Once you have secured your job and obtained your work permit, you can start your new job in Luxembourg. Remember, the job market in Luxembourg is competitive, so it may take some time to find the right job. Stay persistent and keep applying until you find a suitable job. Websites to apply for jobs: There are several websites that you can use to apply for jobs in Luxembourg. Some of the popular job search websites include: Luxembourg Reqest/Offer: For every day jobs such as babysitting, pet sitting, deliveries, electricians etc. you can post and request/offer in Luxembourg Expats luxembourgexpats.lu/request-offer  Jobs.lu: This is a job search website that features a wide range of job openings in various industries, including finance, IT, and engineering. Monster.lu: Monster.lu is another popular job search website in Luxembourg that features job openings in various industries. LinkedIn: LinkedIn is a professional network that also features job openings in Luxembourg. You can search for jobs by keyword, location, and company. Indeed.lu: Indeed.lu is a job search engine that aggregates job openings from various sources, including company websites and job boards. Michael Page Luxembourg: Michael Page is a recruitment agency that focuses on executive and management-level positions in various industries, including finance, IT, and engineering. EURES: EURES is a job portal run by the European Union that features job openings in Luxembourg and other EU countries. These are just a few examples of job search websites that you can use to apply for jobs in Luxembourg. Remember to tailor your application to the job you are applying for and follow up with employers to ensure they received your application. Luxemboug Expats Jobs community: Luxembourg Expats is creating a jobs community for the community seeking and offering every day jobs to office jobs. Join our community facebook.com/groups/luxembourgjobsnow Luxembourg Expats, Expats, Luxembourg, Jobs

We had our first television for nearly 18 years. Our first TV traveled along with us in our relocations to 3 cities and 4 houses in those 18 years. Then came the HD TV that we ought to replace for better convenience and quality. And then we moved, our HD TV did not travel with us. Why? Because it was an international travel. Could we have taken the HD TV with us, yes but did not make economic sense. However, the HD TV was in perfect condition and someone could use it perfectly well. We later sold it for almost 30% of our purchase price. The buyer had a great deal. A perfectly working HD TV at 30% of its original cost and perfectly working. We saved throwing it away. This or similar situation tends to be the case for a lot of items we own and is no longer relevant in our lives but perfectly okay in others lives. We started the Buy,Sell, Rent to enable these transactions to happen by connecting buyers, sellers and renters. There are tons of benefits in buying, selling and renting things: Buying, selling, and renting used items is an excellent way also to promote sustainability. The manufacturing of new products requires a significant amount of energy, natural resources, and generates greenhouse gas emissions, contributing to environmental degradation. By using and reusing already-existing products, we reduce the demand for new products and the environmental impact that comes with their production. Here are some reasons why buying and using used items is good for sustainability: Reduced waste: Every year, millions of tons of waste end up in landfills, polluting the environment and causing harm to wildlife. By using and reusing already-existing items, we reduce the amount of waste that ends up in landfills. By choosing to buy used items, we are diverting these products from becoming waste and giving them a new life. Conservation of resources: The production of new products requires the use of natural resources such as timber, metals, and water, which are finite and non-renewable. By purchasing used items, we reduce the demand for new resources and promote their conservation. Energy conservation: Manufacturing new products requires a significant amount of energy, leading to increased greenhouse gas emissions. By buying and using used items, we reduce the need for new production, leading to a decrease in energy consumption and associated emissions. Cost-effective: Buying used items is often more affordable than buying new ones. By purchasing used items, we can save money and reduce our overall consumption. Promotion of circular economy: A circular economy is an economic model that promotes the reuse of resources and products, as opposed to the traditional linear economy of take-make-dispose. By buying and using used items, we are supporting the circular economy model and promoting a more sustainable economic system. ---- HOW TO! Maybe you got convinced with our why you need to buy used items. Now comes the how to buy, sell, and rent. It's simple. Take a photograph, think of a price and post in: - Our marketplace luxembourgexpats.lu/buy-sell - we feature the links in all our social media channels for wider reach. - Our Facebook community facebook.com/groups/luxexpatsbuysell ---- Do's and dont's of buying and selling: We rely on the goodness of the buyer and seller in our community to make good of the transaction. We do not check the items being sold or the seller and neither do we play a middle men in the sale. What we offer is a place for buyer and seller to connect and transact without our involvement in-between. We have some suggestions though: Do's - Take clear photograph - Post in the marketplace and community - Give a clear description on the status of the item, what's working and what's damaged - Quote a reasonable price and ask for a reasonable price - Be flexible with the price - Handover the items in public places, if you can. - Be honest in the transaction Dont's - Do not give money before seeing and receiving the item

Overview: The Omnibus Directive’s full name is Directive 98/6/EC of the European Parliament and of the Council of 16 February 1998 on consumer protection in the indication of the prices of products offered to consumers (OJ L 080, 18.3.1998, p. 27, as amended). The directive is also known as the Enforcement and Modernization Directive. The Omnibus EU Directive has been created to impose additional disclosure obligations on sellers. The new regulations are supposed to have a positive impact on consumer rights and eliminate both ill practices related to publishing fake reviews and artificially increased prices during promotional campaigns. The Omnibus Directive is to ensure fair price cuts and help customers make deliberate shopping decisions. The new law, however, forces some important changes on both product pages and entire websites. In the EU, the directive took effect on January 7, 2020. All member countries were initially obliged to implement all regulations that were necessary to implement the Omnibus Directive by November 28, 2021. However, due to delays in some European countries (including Italy, Ireland, Malta, and Slovenia), the deadline was changed. In Luxembourg On 30 November 2022, a new law amending the Code of Consumption for the purpose of transposing Directive (EU) 2019/2161 (“Omnibus Directive“) (“New Law“) was published . The New Law entered into force on 4 December 2022. Why do we have this law? The changes are a result of unfair practices used by many e-commerce business owners. The EU directive has been introduced to: Protect consumers adequately for today’s times. Enable fair competition for businesses in selling products and services. Ensure price transparency during promotional campaigns. Eliminate fake reviews on the Internet. Prevent fake price cuts – more and more often, e-commerce business owners have artificially increased prices to cut them afterward and imitate attractive discounts. What are the changes in the new law? Additional specific information requirements for contracts concluded on online marketplaces. Extension of the list of unfair commercial practices New rights for consumers in the case of price reductions of goods Insertion of common criteria for the application of penalties Strengthening the sanctions in cross-border cases Introduction of written warnings Conclusion: With the Omnibus Directive, consumer rights will certainly be enhanced in the context of online shopping, but new requirements also will be introduced for online businesses. To explore more: CL2011L0083EN0020010.0001.3bi_cp 1..1 (europa.eu) https://gouvernement.lu/en/actualites/toutes_actualites/communiques/2022/11-novembre/24-directive-omnibus.html Luxembourg: New rights for consumers following transposition of the Omnibus Directive - Global Compliance News Like us on Facebook, follow us on Twitter, Linkedin & also subscribe to our website LuxembourgExpats

Registering a company in Luxembourg used to be cumbersome. This has been relatively simplified and the cost of starting a company has been brought down signficantly. Costs of running a company has not however come down signficantly. In this article, we are offering a quick guide on how to start a SARL-S company. To get started, setup an appointment and get started with House of Entrepreneurship: houseofentrepreneurship.lu House of Entrepreneurship directs you to the business application template that you can modify to apply for business license, they explain the procedure and the list of required documents. You don't need a notary or a business advisor, you can complete the entire process yourself. Here is a quick summary on what all happens and what you need to do (if we are missing any steps, text us and we will add). What you need? 1. EUR 1 is the minimum capital required for SARL-S company. 2. A registration address and your National ID number. 3. Passport copy and appropriate residence status in Luxembourg. 4. You need to be a natural person (meaning individual). 5. Residence registration documents. First the complete steps overview to register a company: Read first: guichet.public.lu/en/entreprises/creation-developpement/forme-juridique/societe-capitaux/sarl-s.html Step 1. Apply for a business license from the Ministry (typically takes 4-8 weeks) Step 2a. Once the business license approval comes through, then send the approval document to register with RCS (company registry) - this can be done with the business license approval. lbr.lu/mjrcs/jsp/webapp/static/mjrcs/en/mjrcs/legal.html?pageTitle=footer.legalaspect Step 2b. Open a Bank account based on the registration (can be done in parallel with Step 2a) - this can be done with the business license approval. Step 3. Register for VAT: You need to register for VAT and mention the VAT exemption scheme (if you expect the annual turnover will not exceed EUR 35k). If the annual turnover exceeds EUR 35k, you need to inform the VAT authorities accordingly and get a VAT number. From this point on, you will always charge VAT even if your annual turnover later comes below EUR 35k. Register for VAT. Read this: guichet.public.lu/en/entreprises/fiscalite/tva/inscriptions-declarations/inscription-tva.html  Step 4. You need to inform the social contributions (CCSS) whether you're going to run a payroll. If you're not running a payroll, you can make a voluntary contribution that can be done up to half your required minimum salary. That will turn to be less then EUR 200 per month per person. Check with an accountant for this on how to get this done. Step 5. If you're going to run a payroll. If so, you need to have a pay roll provider who can register you. You need to pay the mentioned monthly contribution to CCSS that depends on the salary amount.  Step 6. Find an accountant to file annual accounts. Step 7. VAT filing is different from annual acocunts filing. This can be done quarterly or annually. If the VAT office sends you a notice to do it quarterly, you're obliged to do quarterly VAT. Filings you need to do: 1. VAT filing - if you've exceeded the threshold at least once, you need to start filing. It can be done annually unless specifically asked to be filed quarterly. Then you file 4 VATs or 1 VATs. 2. Annual accounts and company accounts. Costs of running a SARL-S company in Luxembourg: Costs are high compared to other EU jurisdications. 1. You're required to pay advanced tax. You can get this lowered or not pay if you're not expecting high income. You've to do this step, else you will be asked to pay. And you may incur fine. So, call them immediately and inform them of your expected income. 2. CCSS payment if you're running a pay roll. This you need to transfer every month for each employee. Ask your payroll company on how much to transfer. 3. Chamber of Comerce fee. This is mandatory payment and cannot be skipped. In other jurisdictions this is not usual. 4. If you need to be covered by CNS, even if u are not taking any income from the company. You need to pay the minimum amount required every month and covered under CNS. 5. Payroll costs. If you're running a payroll, then there is a cost to pay to the payroll company for every pay roll. Can be EUR 15- EUR 25 per payroll depending on the company per payroll certificate. 6. Accountant fee: Annual accounts filing fee. 7. VAT filing fee. For every VAT (quarterly or annually) there is an annual VAT filing fee. 8. Bank account fee. Your bank might have costs associted fee for having a bank account or having a minimum threshold. If we are missing any steps, send us a message here on the platform or on FB page facebook.com/luxembourgexpats.

B2B: Dear Community, corporates, business institutions, entrepreneurs! Here I would like to share with you the insights of art-advisor's job, my experience and observations which I do regulary on LinkedIn. gHope it will be useful and interesting. According to FORBES, the work efficiency is 17% higher in the offices where the artworks & plants are present. #ArtInOffice is a power tool to affect your staff, clients as well as the cheapest way to add the refined touch to your office. Why & how it’s possible?! I’ll explain in a simple way and give a #lifehacks in the next posts on LinkedIn😉 But before I would like to encourage you to commission the professionals, because… -      The amateur approach can spoil even the best ides. If you want to try and think you are ready to unpredictable consequences, delegate your T-ager kid to fill out your tax declaration at first. “I can do it by myself” – is not for that kind of services, except you have the multilateral expertise & experience in curatorial studies, psychology, tracing the trends in contemporary art, a feeling of suitability additionally to impeccable taste. -      If you love adrenalin and ready to take the risk, remember that all the responsibility will be yours, because it supposed to be clearly visible. So, estimate its diapason from “great success” to “complete fall”. It doesn’t matter, are you an owner, CEO or employee, this quote will apply: “The doctor can bury the results of his experiments but not the architect”. -      Finally, good news: it’s much cheaper than to host the temporary exhibition in your office than to re-paint the walls, but the effect is incomparably bigger as well as to pay an external provider for 1-time service than to employ a dedicated person. Especially when you really need it for special occasion, like new office opening or important meetings with clients/investors/partners. Afterwards based on measurable results and feed-backs, you can re-consider it for a long-term perspective. Wish you a Happy Friday and wonderful week-end! 😊 #artmanagement #business #contemporaryart #experience #success #entrepreneurs #ceo #b2b #wellbeing #businessneeds #outsourcing #outsourcingservices #work #reason

Founded in 1989 in Geneva, GADD’s portfolio management and investment expertise is the cornerstone of its activities. In the head office in Luxembourg, and in Geneva, GADD assembles the best expertise in international wealth management to meet the demands of a diversified and international clientele. To ensure greater proximity to its traditional clientele, GADD has established a representative office in Stockholm. We focus exclusively on asset management through discretionary management mandates and a fund: GADD SMP.

Believe it or not, most of us women, close to 65%, in the case of Sweden, do not yet save in the way that it provides some form of growth in addition to the money we set aside each month. A monthly savings in a fund makes (thanks to interest on the interest rate effect) a big difference for growth over time than if you let your savings stay in a regular bank account. With several 5-star ratings and over 30 years in the industry, GADD & Cie can live up to its motto that long-term savings are the safest way to build capital.

Have you long dreamed of a warm, functional and cozy balcony in your apartment? Experienced professionals of the "BalkonSky" company will make dreams come true. We will turn a cold and uncomfortable room into a study, a greenhouse, a recreation area, a nursery, or we will make it a continuation of an existing room. To start such a transformation, you just need to contact our consultants in Kiev. After that, our engineers will come to you, evaluate the range of work, make the necessary measurements and offer possible options for the implementation of the balcony repair. A turnkey balcony is a complex of repair work that allows you to get a cozy and functional room from an uncomfortable, cold and / or dilapidated object. As a result, the balcony can be used as conveniently as possible for household needs (drying clothes, storing things), acting as a full-fledged room (office, recreation area) or becoming part of an adjacent living room. The company specializes in the manufacture of plastic windows in Kiev. We cooperate with the best manufacturers of profile systems (German Rehau and Salamander, Ukrainian Open Teck and WDS), insulating glass units (Glasstrosch and Guardian), accessories (Maco, Siegenia, Vorne, Kale, Axor, etc.). Using these high-quality components, we immediately after taking measurements and confirming the order, we begin the manufacture of window structures, and then deliver them for installation at a convenient time for you. Our craftsmen perform professional installation and any other repair work. All this will allow you to get a comfortable balcony or loggia with attractive finishes and excellent protection against precipitation, cold, dust and street noise. DIFFERENCES AND FEATURES Cold balcony If you are interested in arranging additional space for household needs, that is, drying clothes after washing or storing things, then the price for a turnkey balcony in Kiev will be as affordable as possible. In this case, increased thermal insulation requirements are not imposed on this room. What does this mean for the customer: inexpensive glazing can be performed using high-quality profile systems with an installation depth of 60 mm, single-chamber double-glazed windows and practical fittings; additional insulation of walls, floor, parapet is not required; as part of a comprehensive repair, finishing is performed, and preference should be given to materials that are not afraid of humidity and temperature fluctuations. The best choice is plastic panels or lining; additionally, the manufacture of dryers and / or storage furniture (cabinets, pedestals, etc.) is ordered. WARM BALCONY Any homeowner wants the repair work on the balcony or loggia to be of high quality, fast and not too expensive. It would seem that some of this will definitely have to be sacrificed. But if you order a turnkey balcony in Kiev in the "BalkonSky" company, then in the shortest possible time and at a bargain price you can get really comfortable, cozy and functional square meters. The so-called "warm" improvement is aimed at ensuring a comfortable air temperature all year round, which is important both when joining an adjacent room and when creating an independent functional space, for example, a study. Balcony repair in this case includes: installation of high-quality glazing with profiles (installation depth not less than 70 mm) and 2-chamber energy-saving double-glazed windows; implementation of high-quality insulation of walls, ceilings and floors. Thermal insulation materials such as polystyrene and styrodur are used. Installation of underfloor heating is also encouraged; to increase the thermal insulation properties, it is recommended to perform external cladding with insulation; be sure to carry out electrical work before finishing. Even on a warm balcony, it can be carried out along the base slab, which makes it possible to increase its usable area.

Thanks to the interest rate effect, a monthly saving for the grandchildren can be a lot of money that gives the most important people in your life the start they need to get their own housing. With several 5-star ratings and over 30 years in the industry, GADD & Cie can live up to its motto that long-term savings are the safest way to build capital. Our fund GADD SMP is managed by a small family business with offices in Stockholm and Geneva, as well as headquarters in Luxembourg. This year we celebrate 32 years as a wealth manager.

At Luxembourg Expats Network Featured Story Series’, today we are speaking to Jacob, founder of the online language institute On-Lang. Every entrepreneur's journey is filled with hope and opportunities and struggles and turbulence. By speaking, we not only highlight the journey of an entrepreneur, but we also hope this would be an inspiration for many. Without further ado, let’s jump right-in to our discussions with Jacob. Welcome to LuxExpats FSS, Jacob, let’s have a brief introduction about yourself: My name is Jakub. I am a language teacher with 10+ years of experience. Married to another great education specialist Eveline, who works as methodologist in our school – On-lang. We come from Poland, both worked as freelance teachers there, and at the beginning of 2021 we founded On-lang language school in Bitburg, Germany What's your Bitburg story? What brought you to Bitburg, and how has life in Bitburg been? We visited this area a couple of years ago. Our friends invited us. Once we’ve seen Bitburg, Trier, Eifel region, and Luxembourg of course, we thought that it might be a good place to live. Long story short, after just a few years we had a chance and we took it. Life in Bitburg is calm. People are very friendly and helpful, what we as newcomers appreciate a lot. What's your entrepreneurial journey? How did you get started with On-lang, the online language school? It started several years ago. After an adventure as a corporate employee I decided to pursue a career as a freelancer. I wanted to be able to have more influence on how my work, and life looked like. That’s how my company started to exist. For a couple of years I cooperated with various language schools, and managed to build a list of private clients. When we were planning to move to Germany, it was an obvious choice to pursue the teaching career. After analyzing the options, we decided to launch a company – On-lang language school, get some of our friends, who are fantastic educators on board and start building our future. What services do you offer? Who are your target audience? We want to help everyone who wants to learn a foreign language. We offer various learning schemes. One can learn solo, with a friend, or in a group. We are also interested in reaching companies where workers need to improve their communication skills in non-native languages. Having employees who speak a couple of languages fluently and are not scared of using them can really push a business forward, and we have already cooperated with different companies in that area. What are you most proud of in On-lang? I am super proud of being able to have fantastic people on board. We chose our teachers carefully and cooperate only with those, who have the same vision as we do  to help people break language barriers. I am very thankful for their support. The other thing I am proud of is that from this school-year we were able to offer job-contracts to some of our teachers. Though it is not the first choice of many schools, that usually employ freelancers only, we are happy to make a step forward and to make the job more stable for both our educators and ourselves. What are your hobbies and interests? I used to be a freelance photographer and that is still somewhere in my heart. I love visiting new places with my camera and taking photos. It helps to get a better, more detail-oriented perspective of a place one visits. That’s how it works for me at least 😊 What's your favorite spot in Luxembourg? Though I am relatively fresh in here, I can name a couple of spots I definitely love. From the city of Luxembourg I definitely fell in love with the Adolphe Bridge. Having a walk with the view is a breath-taking experience. It is also a perfect place to get away for a moment to be alone with ones thoughts sipping a good take-away coffee of course. What's your top 3-recommendations for a new comer in learning new language? 1. Surround yourself with the new language. Change language in your video games, phone system, Netflix default settings etc. Try to manage and don’t give up if it feels a bit upsetting or tiering at first. 2. Get professional help of a qualified teacher who can coach you through your language process. Even the best self-learning sportsmen need an assistance of a coach at some point. The same goes for the language skills, it really helps to have a professional teacher who cares about you, and your progress. Every student deserves a champion 😊 3. Go out there and use what you learn. Whenever it is possible for you, use the language you are learning. When you feel you are misunderstood, that’s why we have our hands and mimics, use them if you fail to find a word needed at the moment. The feeling of accomplishment when you manage to have a simple conversation in a language you are learning is an amazing motivator. What's your favorite quote? My favorite quote comes from one of my favorite TedTalks. It was given by a great educator Rita Pierson, who said: “Every child deserves a champion—an adult who will never give up on them, who understands the power of connection, and insists that they become the best that they can possibly be.” In On-lang, we believe that every our student, young or older deserves a champion 😊 What methods do you use teaching your students? We use a variety of teaching methods. Starting from Montessori/Multi-sensory methods for kids, through The Natural Approach, CLT (Communicative language learning), to our favorite – the Immersion method for adults. Actually what we like to do most is to tailor a mixture of various methods to our students. We definitely try to conduct our lessons completely in the target language as soon as it is possible. We also want to give our students the possibility to enjoy communication as early as  possible in their learning process – hence the focus on very practical, and useful skills. What would you say would be the recommendations of people who want to start their own business today? 1. The beginnings are never easy, so don’t give up to quickly. 2. Though you may often feel like this – don’t do everything by yourself. Try to get a support and to delegate tasks as soon as possible. 3. Gather positive people around you, and talk to them often to gain motivation to go on. Last, but not least, if you are not one yourself, find a good support of a tax advisor. I am very happy to have a support of Jegen Steuerberatungsgesellschaft GmbH from Bitburg, that provides fantastic support. Hope you enjoyed learning about Jacob and his family's entrepreneurial experience, which he has shared in a beautiful way. Are you learning a new language? check out On-lang and support local businesses in the greater region: luxembourgexpats.lu/local-business/books-languages-learning-and-training/1100001050

In our Featured Story Series (FSS) we are delighted to have our next conversation with Milana Zoric, an accomplished psychologist, entrepreneur, mother and an expat. LEN: Hi Milana, welcome to FSS. Share something about yourself: Hi, my name is Milana Zoric, I am coming from Serbia, I lived in France for almost 10 years and I work in Luxembourg as psychologist in Cabinet Paramedical in Niederkorn. LEN: What's your Luxembourg story? What brought you to Luxembourg, and how has life in Luxembourg been? As my husband was a professional basketball player in France for a decade, sport brought us in this region, where we heard for the first time about Luxembourg. As he finished his studies in USA, his diploma allowed him to start a career in a banking world in Luxembourg. As I had until recently only a Serbian passport, and as I am a mother of small children far from my family (which is a common story in Luxembourg), for me it was complicated until I managed to have all the papers needed in order to find a job. Now that I have an EU passport and my Doctorate in Psychology recognized in Luxembourg, everything is in its place. LEN: What's your entrepreneurial journey? How did you get started with Doctor of Psychology? As I am highly educated, I logically firstly wanted to find a job in Luxembourg, specifically in HR services. But as most of the offers were those for the full time positions, and as my husband already had a job like this, it was hard for me, but I refused most of the full time offers as I have small children and as I feel that inner responsibility to be there and create a balance in order to have a happy and healthy family. So I was searching for some part-time jobs until I realized that it’s not that easy to find it. Then, after some time, I simply decided to create my own business and actually restart doing what I already was doing in the past. And that’s psychotherapy and psychological counseling. LEN: What services do you offer? Who are your targets? Besides my Master and Doctorate University degrees, I have 6 years of education in psychotherapy approach called Transactional analysis and more than 10 years of experience in working with people by providing psychological counseling. I am targeting all the people who found themselves in some kind of complex life situations/people under the stress/people who want to reach their full potential in life throughout reaching the balance between different important roles in their life. As I am an active provider of organization called Workplace options, I usually work with people working in companies, but also very often with stressed moms or people who found themselves in some other types of everyday problems (communication problems, self-esteem issues, emotional struggles, family problems). LEN: What are you most proud of in practicing psychological counseling? Firstly, I am really proud that I succeeded in creating a balance between all the roles I find extremely important in life and those are the roles of mother, wife and a working women. As a consequent, I am proud that I can serve to my clients as an example of someone who succeeded to resolve some really complex life situations and give them all the tools to sort out complex psychological states of being. Of course I am also proud that I can be in a service to all the people who need my help, and am satisfied by the fact that people are usually coming to my cabinet in one unpleasant state of being and stepping out almost every time with a smile and with that awakened strength they lost somewhere on their road. I am proud and happy to have that opportunity to work with people in English, French and Serbian language, as well as to have an opportunity to work in person and online also. LEN: What are your hobbies and interests? Creativity is the value I appreciate a lot. As I finished a musical school when I was a child, music stays as an important value, so I love listening to music, dancing, and singing. I also adore running and sports in generally. I was always interested in cooking and healthy nurture so I am constantly reading about and creating some delicious, but at the same time healthy foods. I adore reading and I read always some literature in order to learn more about different ways to help people. As in Luxembourg we also have your own community which contains thousands of people coming from countries from Ex Yugoslavia, I profit from hanging out with my friends whose native language is the same as mine. LEN: What's your favorite spot in Luxembourg? Muller trail definitely as I adore spending time in nature with my family. But I will also never skip the sales in Cloche d’or or in City Concord, lol. LEN: What are your top 3-recommendations for a new comer in Luxembourg? 1. Be ready for some huge changes in your rhythm and lifestyle. 2. Try to create your own zone of comfort where you will feel fine despite the high stress environment people are mostly facing. 3. Be unique and be yourself as it is highly appreciated in this international and multicultural country. LEN: What's your favorite quote? You must give in order to receive. LEN: What would you say would be the recommendations of people who want to start their own business today? 1. Creating a business definitely is not for everyone. You firstly need to have a very flexible mindset in order to adapt to all the risks, obstacles and hard times while creating your business. 2. In order to succeed, you need to create your own, unique personal and professional brand and if necessary search for some brand developing expert who will help you in that process. 3. Do something you really love, something that is driven by your own uniqueness and purpose. 4. Be patient, be open and try to connect in some way with as much people you can in order to enlarge your community. You can learn something from every single person you meet: from a lady in the bakery, from your clients as well as from you concurrency. You can get in touch with Milana for fore information about the services: https://psymilanazoric.com/en/home/ https://www.cabinetparamedical.lu/niederkorn Adresse: 27 rue Pierre Gansen Niederkorn E mail adresse : milanaalincic@gmail.com Phone number : +352 691 699 634 Milana Zoric on LEN: luxembourgexpats.lu/local-business/business-to-business/1100000985 Linkedin: linkedin.com/in/dr-milana-zoric-15637b181 Instagram: instagram.com/psyzoricmilana

In Luxembourg News - there has not been significant developments in Luxembourg that are news worthy this morning.  In Global News: NASA blasts China in the debris re-entry near Maldives edition.cnn.com/2021/05/08/app-international-edition/china-space-debris-long-march-rocket-reentry-scn/index.html Another Scottish independence vote is inevitable, says Sturgeon washingtonpost.com/world/2021/05/09/scotland-independence-referendum-johnson-sturgeon  Technology News: Do you suddenly need to stop using Facebook #privacy forbes.com/sites/zakdoffman/2021/05/09/this-is-why-you-should-delete-facebook-on-your-iphone-ipad-android-pc-or-mac  The latest in EPIC vs Apple battle news.yahoo.com/epic-games-showdown-apple-turning-201047576.html SpaceX to send Dogecoin funded satellite to the moon marketwatch.com/story/elon-musks-spacex-to-send-dogecoin-funded-satellite-to-the-moon-11620601754 AOB: Stunning photos of airport at a standstill edition.cnn.com/style/article/tom-hegen-airports/index.html

Luxembourg launches cyber security platform to find security tech startups, public sector entities and more in one place. Almost 400 listings are added including 305 private sector companies. If you're a startup operating in the cyber security space, you may want to be added. ecosystem.cybersecurity-luxembourg.com

Analysis by the U.K. research firm New Financial, 440 financial services firms including several money managers have relocated to Europe. One third of all the money management firms have relocated to Ireland, followed by Luxembourg, Paris, Frankfurt and Amsterdam.Almost GBP 100billion is estimated to have been relocated to Europe. 

The Asian Infrastructure Investment Bank (AIIB) will hold its fourth annual meeting on July 12 and 13 in Luxembourg. It's the first time the bank's yearly gathering has taken place outside of Asia.  Luxembourg is a leading international financial center and a facilitator of investments between Europe and Asia. "Luxembourg is honored to become the first nonregional member of AIIB to host the bank’s Annual Meeting," said Luxembourg Finance Minister Pierre Gramegna. Read more : https://buff.ly/2LOrc4f 

Nanjing is considered as one of the centres of innovation and technology within China Luxembourg has signed a memorandum of understanding (MoU) with Nanjing in a bid to strengthen trade partnerships in technology and innovation. The MoU was signed on Tuesday evening by delegates from Nanjing and the China-Luxembourg Chamber of Commerce. Nanjing City has a population of c. 8.3 million, and is considered as one of the centres of innovation and technology within China.  

Fiat Chrysler has proposed a €32.6bn (£28.3bn) merger with France’s Renault that would create the world’s third-largest carmaker and save billions needed to invest in the race to make electric and autonomous vehicles. The combined company would produce 8.7m vehicles annually and save €5bn (£4.4bn) a-year by sharing research, purchasing and other activities, according to Fiat Chrysler Automobiles (FCA). The Italian-American firm said the deal would not involve plant closures but did not rule out job cuts. The joint company would be 50% owned by Fiat Chrysler shareholders and 50% by Renault shareholders. Read More

Amazon is investing millions in Deliveroo in a boost to the UK food delivery service as it takes on a rival such as Uber Eats in a competitive market. The online giant is the lead investor in a $575m financing round, which also includes existing investors T Rowe Price, Fidelity Management and Research Company, and Greenoaks. Deliveroo said it had raised a total of $1.5bn since it launched in 2013. Deliveroo said the new investment would allow it to deliver to more customers by expanding its geographic reach and grow its engineering team based at its London headquarters. Will Shu, the founder and chief executive of Deliveroo, said the investment would result in the creation of more jobs in all of the countries in which it operates. Continue to read on LuxHerald.com

Hackers stole bitcoin worth $41 million from Binance, one of the world’s largest cryptocurrency exchanges, the company said on Wednesday, the latest in a string of thefts from cryptocurrency exchanges around the world.   The 7,000 bitcoin were withdrawn by hackers using a variety of techniques, “including phishing, viruses and other attacks”, according to a post on Binance’s website by chief executive officer Zhao Changpeng.   Bitcoin’s price dropped by as much as 4.2 percent in early Asian trading as news of the hack broke, although it later recovered some of its losses. Read more on Reuters

Thomas Cook says Spain is still the most popular destination for holidaymakers. Fewer British holidaymakers have booked a summer holiday inside the European Union this year amid continuing Brexit uncertainty, Thomas Cook has said.    The travel firm says almost half (48%) of the holidays it sold up until the end of February were to non-EU destinations, up 10% on last year.   The figures are based on Post Office transactions between 1 January and 23 April. The Post Office accounts for about a quarter of all UK currency transactions.   It said the biggest growth in currency sales so far this year has been for the Egyptian pound, which has seen a 687% year-on-year increase. Chief executive Peter Fankhauser said it was still too early to tell the impact on bookings of the UK's exit from the European Union being delayed to the end of October. But he said there was "little doubt that the prolonged uncertainty around the manner and timing of Britain's exit from the European Union has led many customers to press pause on their holiday plans for this summer".

The Bank of China has chosen Luxembourg to list its 500-million-U.S.-dollar bond during an official ceremony on Wednesday at the Luxembourg Stock Exchange.   The Initiative "is a framework that allows us many more financing and many more transactions of a close border nature to help the capital markets", said Robert Scharfe, CEO of the Luxembourg Stock Exchange, during the official Bell Ceremony on Wednesday.   "At the end, it means building a bridge between the Chinese market and the international investor community. Important steps have been taken but we can extend it way beyond this, and we are determined to play a role in this development moving forwards."   Launched on April 10, Bank of China issued the Belt-and-Road-themed bonds in 5 currencies in the international market, raising 3.8 billion U.S. dollars equivalent altogether through its offerings.   The 500-million-U.S.-dollar tranche was issued via its branch in Luxembourg, and has received excellent market reaction.

Tesla reported a loss of $702m for the first three months of the year and predicted another loss for the three months after.   The electric car and battery maker said it would return to profit in the third quarter.   The firm said it still plans to deliver 360,000 to 400,000 vehicles in 2019.   Tesla chief executive Elon Musk said he expected the firm to have self-driving "robotaxis" on the road by 2020. Mr Musk told investors he expected regulators to approve ride-hailing in some areas for autonomous vehicles. He added: "I feel very confident in predicting autonomous robotaxis next year."