>> Space mining has the potential to generate up to EUR 170 billion by 2045
Luxembourg is the first country to legislate space mining. Now PwC has released a report that this industry has the potential to go up to between EUR 73 billion to EUR 170 billion by 2045. However, massive investments are needed, and as a result, also massive competition is to be expected.
>> Luxembourg rail network CFL buys 34 new trains
Luxembourg's rail network CFL has signed up Alstom for 34 new trains. The rail capacity will go from the current 27,200 seats to more than 39,100 seats by 2024. CFL passenger numbers have increased massively by more than 70% in the fast 15 years. One wonders how much passenger traffic will explode with the free for all public transportation that's expected to start next year. In any case, it's a good move.
>> Luxembourg's minimum wage rise approved by the parliament
Luxembourg's parliament has approved on 18th December 2018 approved rising minimum wage to 1.1%, which will correspond to EUR 22 gross per month. This will increase the minimum age to EUR 2,071.07 per month and EUR 2,485.29 per month. SMEs will benefit a tax relief of 1% partially to help them with increase in the minimum wage.
>> Luxembourg's regulatory authority warns of "unknown firm"
CSSF, the financial watchdog of Luxembourg, warned about the unknown firm named Community Trust Bank Group purportedly located in Luxembourg city.
>>Clearstream to axe 212 jobs in Luxembourg