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The consultancy firm Z/Yen and the Long Finance initiative have recently published the 15th edition of the competitiveness index of 83 interim financial centres around the world, the "Global financial centres index". In a world that is becoming increasingly globalised and interconnected through information and communications technology, financial centres are facing more intense competition than other sectors. Financial services are at the heart of the global economy, acting as facilitators of international trade and foreign investment. The study is based on two types of sources to assess the competitiveness of financial centres. On the one hand, the study uses 103 quantitative determinants and, on the other, a barometer of appreciation from online surveys of industry professionals. As defined in this study, competitiveness consists of five categories of indicators: the business environment (taxes, regulation, etc.), the development of the financial sector, infrastructure (cost and availability of offices, etc.), human resources (training, flexibility, etc.) and global determinants of competitiveness (perception of cities as a pleasant place to live, etc.). New York, London and Hong Kong occupy the top three again in this new edition published in March 2014. Luxembourg's showing has increased by 11 points in the GFCI composite index and is therefore ranked 12th in the world, rising one position from the previous half-year rankings (September 2013). At a European level, Luxembourg ranks fifth behind London, Zurich, Geneva and Frankfurt. In the European Union, Luxembourg occupies third position. Source: Long Finance & Z/Yen (mars 2014) In this latest edition of the index, Luxembourg is also considered, along with Beijing, Milan and Moscow, as a "global emerging contender" financial centre.                        Source: Long Finance & Z/Yen (mars 2014) In the analysis of the volatility of financial centres, Luxembourg is considered a "dynamic" financial centre which is between the financial centres that are considered "stable" and "uncertain", i.e. a financial centre with the potential to progress in both directions.                           Source: Long Finance & Z/Yen (mars 2014) Finally, the qualitative online survey undertaken with financial professionals around the world shows that Luxembourg is in 9th place in the world, and the first in Europe, of financial centres to which respondents agree will play an increasing role in the coming years.   Please visit the website for more information or download the GFCI study here.
The former industrial area about 20 kilometres south of Luxembourg City is undergoing a radical metamorphosis. Where the country’s largest steel works once spewed smoke into the sky above the French border, the Government has been erecting an entire new neighbourhood, aiming to position Luxembourg as Europe’s next hub for technological innovation. Behind one of Belval’s blast furnaces, at the heart of the ambitiously named City of Science, sits Technoport, the national tech-oriented incubator. Anyone with a business idea can apply to have it evaluated there, and — if the idea is deemed viable — Technoport offers access to its sleek collaborative spaces and guidance in setting up a business plan. Ideas take shape with a rented laser cutter or 3D printers in the Fab Lab, a digital laboratory that is part of a growing global network introduced by the Massachusetts Institute of Technology’s Center for Bits and Atoms. Power hubs, suspended from high ceilings in the communal spaces, guarantee that the juice never runs low. One of the incubator’s hopefuls is All Square, a social network for golfers founded in December 2012 by Patrick Rahme, 26, of Luxembourg City, and Arthur de Rivoire, 25, of Geneva. The two entrepreneurs have received free coaching at Technoport and will move into an office there this year. In December, a partnership between the Luxembourg Government and the Plug and Play Tech Centre, a “business accelerator” in Sunnyvale, California, sent the entrepreneurs on a three-month mentoring stint through Silicon Valley. The road to the most hyped of all tech hubs might have been rockier had they started out in a different European country, Mr. Rahme said. “Everything is very easy in Luxembourg,” he said. “It’s a very linked environment of people who know each other and who are willing to help.” While Rovio and Soundcloud generated the buzz necessary to turn Helsinki and Berlin into booming tech hubs, Luxembourg has become the place where successful start-ups move after they have hit the big time.   To read the full article from the NY Times, please visit their webpage.  
The 4th edition of the European "Innovation Union Scoreboard" (IUS) was published in early March 2014. This dashboard is the successor to the European scoreboard for Innovation that was established under the Lisbon Strategy (2000-2010). The purpose of this statistical tool, which is based on 25 indicators divided into three main categories and 8 dimensions of innovation, is to allow the monitoring of the implementation of the Europe 2020 Strategy and, in particular, the flagship initiative relative to innovation. The IUS offers Member States a dashboard comparison of the relative performance of EU Member States concerning innovation together with an analysis of the strengths and weaknesses of national systems of research and innovation. A composite indicator called "Summary Innovation Index" (SII) is then calculated on the basis of data from this scoreboard. In the 2014 edition, the ranking of EU member states is headed by Sweden, Denmark, Germany and Finland ("innovation leaders"). Luxembourg occupies fifth position, the Netherlands 6th, Belgium 7th and finally France in 11th position. Luxembourg is top ranked and among the countries of the category "innovation followers", performing better than the EU average but not sufficiently strong to be among the class leaders displaying innovation performance of at least 20% higher than the EU average. The IUS 2014 also analyses the performance of countries over the years. Luxembourg shows a positive trend for the value of the composite SII index, despite the fact that during the period of economic and financial crisis, its score temporarily dropped in 2010 and 2011. In conclusion, the following report includes observations with respect to the strengths and weaknesses of Luxembourg: "Relative strengths are in International scientific co-publications, community trademarks, Venture capital investments and in Community designs. Luxembourg performs well below the average for Non-R&D innovation expenditures and new doctorate graduates. High growth is observed for International scientific co-publications, Most cited scientific publications and R&D expenditures in the public sector. Strong declines are observed in Non-R&D innovation expenditures, Sales share of new innovations and R&D expenditures in the business sector". Further information is available via: ec.europa.eu Download the full report.  

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Luxembourg, Your European eBusiness Platform
Luxembourg, Your European eBusiness Platform
Luxembourg, Your European eBusiness Platform
Conquer the world from your Luxembourg headquarters
Conquer the world from your Luxembourg headquarters
FOCUS magazine 1 : Automotive components made in Luxembourg
FOCUS magazine 2 : A thriving space industry
FOCUS magazine 3: Environmental innovators hit the spotlight
FOCUS magazine 4: High hopes for health
FOCUS magazine 5 : Leading the way in ICT security
FOCUS magazine 6 : Making materials smarter
FOCUS magazine 7 – A home for growth
FOCUS magazine 8 - A green heart for logistics
Get to know Luxembourg
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Logistics Hub Luxembourg, Putting Europe at your fingertips
Luxembourg in Figures
Luxembourg in Figures
Luxembourg in Figures
Luxembourg, an attractive IP destination - publication cover
Luxembourg, an attractive IP destination
Luxembourg, an attractive IP destination - publication cover
Luxembourg, an attractive IP destination
Luxembourg, an attractive IP destination - publication cover
Luxembourg, an attractive IP destination
Luxembourg, The automotive specialist
Luxembourg, The automotive specialist
Luxembourg, your prime business location - publication cover
Luxembourg, your prime business location
Luxembourg, your prime business location - publication cover
Luxembourg, your prime business location
Luxembourg, your prime business location - publication cover
Luxembourg, your prime business location
Luxembourg, your prime business location - publication cover
Luxembourg, your prime business location
Luxembourg, your prime business location - publication cover
Luxembourg, your prime business location
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Luxembourg, your prime business location

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Conquer the world from your Luxembourg headquarters

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Logistics Hub Luxembourg, Putting Europe at your fingertips

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Luxembourg, Your European eBusiness Platform

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Luxembourg, an attractive IP destination

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Luxembourg, The automotive specialist

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Luxembourg in Figures

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Get to know Luxembourg

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