Luxembourg has announced the withdrawal of its embassy in Managua while diplomatic ties with Nicaragua will be handled by the Embassy in Washington, DC as of Feb. 1. Charge d'Affaires Joe Geisbusch will end his mission Jan. 30.
Luxembourg's privacy regulator has asked Amazon for information regarding its Alexa voice assistant, an indication of rising regulatory unease over companies' use of personal data.
Brexit is driving a much heralded jobs boom and expansion in the financial services industry – in Luxembourg. According to lobby group Luxembourg for Finance, 47 banks, insurers, wealth managers and investment firms have plans to move some business activities to the Grand Duchy in order to cope with potential disruption from Britain’s impending departure from the European Union.
Argentina's Internal Revenue Service, AFIP, announced it had received information on 35.000 overseas bank accounts held by Argentines, which should make it easier to control payment deadlines of the respective sworn statements on taxes, profits and assets.
The European Court of Justice in Luxembourg ruled that airlines must compensate their passengers for flight delays and cancellations, even though the reason for this was a strike by airline staff. The airlines are now facing a wave claims, because this ruling applies to all previous airline strikes and new ones.
Luxembourg is by far the richest country in the European Union in terms of GDP per capita, more than six times more affluent than the 27-nation bloc's poorest member Bulgaria, data showed.
Government deficits in Bulgaria, Cyprus, Denmark and Finland have gone too far over the 3% of GDP reference value for the European Union and need to be brought down through stronger budget consolidation measures, concluded the European Commission in reports considered on Wednesday.