Alipay, part of Alibaba group, has been granted with an electronic money license in Luxembourg. Alipay is China’s leading mobile and online payment solution, with more than one billion users globally.
Following national elections on October 14, the new government was sworn in on December 5. Embarking on a second term, the Liberal Democrat, Socialist and Green parties‘ coalition agreement is marked by a stronger environmental drive and reconfirms the ambition to further develop and strengthen the Luxembourg financial centre.
LFF participated at the UNEP Global Roundtable in Paris. During a high-level panel session on sustainable finance roadmaps and national policy plans, LFF Deputy CEO Tom Théobald provided an overview of Luxembourg’s ongoing efforts in sustainable finance, notably in light of the EU action plan, as well as next steps as part of its national roadmap.
French asset manager Lyxor, the fully-owned Asset Manager of Société Générale Group, is transferring 19 exchange traded funds with assets of €4.9bn to Luxembourg.
As a founding member, Luxembourg for Finance participated at the 1st General Assembly of the global network of Financial Centres for Sustainability (FC4S), held in Shanghai on 19 October. The world’s financial centres have taken an important step forward to scale up the financing required for climate action and sustainable development.
Luxembourg joins the World Alliance of International Financial Centers as founding member.
On 4 October, Luxembourg’s Minister of Finance Pierre Gramegna and Minister of the Environment Carole Dieschbourg, together with Eric Usher, Head of the UN Environment Programme Finance Initiative (UNEP FI), officially launched the Luxembourg sustainable finance roadmap.
Luxembourg is ranked as one of the top 3 financial centres in the EU, according to three different rankings that were recently published: the Global Financial Centres Index 24, the New Financial International Financial Centres Index, as well as the latest Global Green Finance Index (GGFI).
At the end of a week-long mission led by Minister of Finance Pierre Gramegna to Beijing, Hangzhou and Shanghai, China’s Ant Financial confirmed the decision of its payment arm – Alipay - to set up its EU hub in Luxembourg.
Luxembourg is once again ranked as one of the top 3 financial centres in the EU, according to the latest edition of the Global Financial Centres Index 24, published today.