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The Luxembourg government has officially submitted its bid to host the European Banking Authority (EBA). Thus Luxembourg follows a call for offers by the European Council published in June. A European capital, already home to the EU’s judicial and financial institutions, and the Euro area’s leading financial centre, Luxembourg is the natural choice to host the EBA.

Based in London, the EBA, together with the European Medicines Agency is directly affected by the decision of the UK to leave the European Union and will have to be located in a European Member State by March 2019, the date of the UK’s official withdrawal from the EU.

With its diverse banking industry covering the entire range of services from corporate & investment banking, private banking, custody and trustee services to fund management, listing and post-trading services, Luxembourg serves as the EU hub and competence centre for numerous international banks. It is therefore not surprising that Luxembourg ranks as the Euro area’s leading international financial centre (GFCI 2017). Not only does Luxembourg serve as a gateway to the EU market, but also as an international platform for European banks with a global reach.

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Health Technologies innovate during the Covid-19 pandemic

02-03-2021

For the third consecutive year, the Luxembourg healthtech sector organised its annual event. This provided an opportunity to take stock of the evolution of a sector that is on the front line in the context of the COVID-19 pandemic. Minister of the Economy Franz Fayot underlined the importance of the sector in the economic diversification policy and announced the advent of a future financing mechanism favouring public-private partnerships in the medical sector.
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Rotarex invests in Luxembourg production capacity and R&D

02-03-2021

The COVID-19 pandemic has led to a sharp increase in the demand for medical products from Rotarex. In order to meet the increased demand, the company has invested in new production lines and launched three new R&D projects. Both initiatives have received support from the Luxembourg government.
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A place for innovation

22-02-2021

Ekaterina Bereziy, CEO of healthtech start-up ExoAtlet, came to Luxembourg from Russia in 2019. She talks about the unexpected innovation environment that she found here and the aspects that she enjoys most in her new home country.
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Green hydrogen, moon mining, anti-scam technology: Luxembourg’s innovative approach

22-02-2021

Luxembourg is known for audacious moves to develop its economy – building one of the world’s leading financial centres from scratch is perhaps the most well-known example. The Financial Times reports on other initiatives focusing on renewable energy, space technology and cybersecurity.
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Country report: Becoming an advanced digital society

19-02-2021

Luxembourg’s efforts to become an advanced digital society are internationally recognised. A recent country report in The Financial Times highlights Luxembourg’s strategic vision for its future economy and investments in high performance computing.
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