Newsroom - Member news
Islamic Funds and Investments Report (IFIR 2010) Conference
The Ernst & Young's presented today the fourth Islamic Funds and Investments Report (IFIR 2010) emphasizing the importance of fund managers to re-discover the investors preferences, focusing on enhancing the quality of their offering and moving away from transaction-only approach to comprehensive wealth management solutions.
DZ PRIVATBANK eröffnet erste Standorte in Deutschland
Hannover, München und Stuttgart - in diesen Ballungszentren eröffnet die DZ PRIVATBANK Gruppe heute die ersten Standorte in Deutschland. Dies ist ein weiterer Meilenstein im Ausbau der Private Banking-Aktivitäten der genossenschaftlichen Bankengruppe, die von den Volksbanken Raiffeisenbanken künftig unter der Marke VR-PrivateBanking angeboten werden.
Investment fund tax regime is improved
The fund tax regime has been improved for master feeder funds and foreign funds managed in Luxembourg. Both fund types are expected to grow after UCITS IV. Draft Law 6170 which implements Directive 2009/65/EC of 13 July 2009 on undertakings for collective investment in transferable securities (“UCITS IV” Directive) introduces as from 2011 some positive tax changes for the Luxembourg Investment fund industry.
Luxembourg bill no. 6170 transposing the UCITS IV Directive: a move towards increased tax efficiency for the Luxembourg fund industry
On 6 August 2010, the Luxembourg Ministry of Finance submitted to Parliament a bill which transposes the European Directive 2009/65/EC of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to UCITS IV into domestic law.
New stage in the creation of Luxembourg’s largest bank
BGL BNP Paribas has become a 100% shareholder of BNP Paribas Luxembourg. Together BGL BNP Paribas S.A. and BNP Paribas Luxembourg S.A. will merge to create a single legal entity under the name BGL BNP Paribas with effect from 1 October 2010. This legal merger will be followed by an operational merger at the end of October, marking a new stage in the development of BGL BNP Paribas as a leading contender in the domestic and cross-border market serving its clients and the national economy of Luxembourg. BGL BNP Paribas is now Luxembourg's
• No. 1 bank for businesses
• No. 2 bank for individuals
• No. 1 private bank
• No. 1 employer in the financial sector
• No. 1 supplier of banking services in the Grande Région
Au premier semestre 2010, ING Luxembourg réalise un bénéfice net de près de 96 millions d’euros
Fin juin 2010, le résultat net d’ING Luxembourg a atteint 95,6 millions EUR, en léger recul par rapport au 1er semestre d’une année 2009 exceptionnelle. En 6 mois, ING Luxembourg réalise néanmoins plus de la moitié de ses objectifs pour 2010 au niveau de ses revenus tandis que ses dépenses quant à elles suivent scrupuleusement le plan de contrôle des coûts.
Les cartes de crédits prennent le dessus sur miniCASH
Aujourd’hui, le nombre de transactions miniCASH ne cesse de décroître au profit des paiements par carte de crédit ou de débit beaucoup plus nombreuses et utilisées qu’il y a 10 ans.
DekaBank Luxembourg übernimmt das Privatkundengeschäft der LBBW Luxemburg S.A.
Zum 1. Januar 2011 übernimmt die DekaBank Deutsche Girozentrale Luxembourg S.A. das Privatkundengeschäft der LBBW Luxemburg S.A. Die DekaBank erhielt im Rahmen eines Bieterverfahrens den Zuschlag, nachdem die Landesbank Baden-Württemberg (LBBW) im Zuge einer Überprüfung ihrer Beteiligungen die Veräußerung des Luxemburger Privatkundengeschäftes ausgeschrieben hatte.
UCITS IV bill of law deposited with Luxembourg Parliament
Confirming its position as leading European investment fund center, Luxembourg is again the first European Member State to have officialy stepped in the implementation process off Directive 2009/65/EC (the UCITS IV Directive) by depositing a bill with Luxembourg Parliament on 6 August 2010 in order to implement Level 1 provisions of the UCITS IV directive into national law.
A new dawn for the investment fund industry
On August 6, 2010, the Luxembourg Government submitted to the Chamber of Representatives a draft law, the main objective of which is the implementation of the EU Directive 2009/65/CE (“UCITS IV Directive”). The draft law also includes some additional changes for investment funds, in particular in respect of taxes.
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