Delano November 2014 by Maison Moderne

LUXEMBOURG IN ENGLISH

WWW.DELANO.LU

ENGINEERS WITHOUT BORDERS

CHINESE COMMUNITY Low profile

WORKSPACE Red hot at 1535°C

FROM FIJI TO KIRCHBERG

€4

12/2014

ISSUE 31

5 453000 010015

La métamorphose, une histoire Hermès

Sac « Oxer » en crocodile mat, taurillon Clémence et veau Barénia 13, rue Philippe II Luxembourg Tél. (352) 220 981 Hermes.com

Write to PO Box 728 L-2017 Luxembourg Offices 10 rue des Gaulois, Luxembourg-Bonnevoie ISSN 2220-5535 Web www.maisonmoderne.lu Founder and CEO Mike Koedinger Administrative and financial director Étienne Velasti Innovation, quality and operations director Rudy Lafontaine

EDITORIAL

Text by DUNCAN ROBERTS

Photography by OLIVIER MINAIRE

HARD TO SWALLOW

PUBLISHER Phone (+352) 29 66 18-1 Fax (+352) 29 66 19 E-mail publishing@maisonmoderne.lu Publisher Mike Koedinger Editor in chief Duncan Roberts (duncan.roberts@maisonmoderne.lu) Desk editor Aaron Grunwald (aaron.grunwald@maisonmoderne.lu) Contributors Wendy Casey, Stephen Evans, Tonya Stoneman, James Walker, Wendy Winn Photography Julien Becker, Sven Becker, Benjamin Champenois, Annabelle Denham, Steve Eastwood, Jan Hanrion, Andrés Lejona, Gaël Lesure, Vince Martinelli, Christophe Olinger, Mike Zenari Proofread Pauline Berg, Muriel Dietsch, Catherine Thomas DESIGN Phone (+352) 27 62 12 62-1 Fax (+352) 27 62 12 62-84 E-mail studio@maisonmoderne.lu Director, Maison Moderne Studio Guido Kröger Creative director Jeremy Leslie Art director Cassandre Bourtembourg Studio manager Stéphanie Poras Layout Sophie Melai (coordination), Sara Giubelli, Jan Hanrion, Nathalie Petit ADVERTISING Phone (+352) 27 17 27 27 Fax (+352) 26 29 66 20 E-mail mediasales@maisonmoderne.lu Director, Maison Moderne Media Sales Francis Gasparotto (francis.gasparotto@maisonmoderne.lu) Sales director Luciana Restivo (luciana.restivo@maisonmoderne.lu) SUBSCRIPTIONS For subscriptions, please visit www.delano.lu Luxembourg (shipping included) 1 year / 8 issues / 25 euros 2 years / 16 issues / 50 euros Europe (shipping included) 1 year / 8 issues / 31 euros 2 years / 16 issues / 68 euros Printed by Imprimerie Faber Distribution by Valora Services Luxembourg

In accordance with article 66 of the law of 08.06.2004 on the freedom of expression in the media: the company that publishes Delano is indirectly held, by a stake exceeding 25%, by Mike Koedinger, an independent editor registered in Luxembourg. Mike Koedinger is chartered with daily management. Delano™ and Maison Moderne™ are trademarks used under licence by MM Publishing S.A. © MM Publishing S.A. (Luxembourg) COVER PHOTO

Julien Becker shot David Norta and Manuel Brühl at the University of Luxembourg Kirchberg campus. Thanks to the laboratory bloc staff for their assistance. NOTE TO OUR READERS

The next print edition of Delano will be published on 10 December. For news updates, commentary and our weekly what’s on guide, visit www.delano.lu.

othing says “welcome to Luxembourg” like an iodine pill. New arrivals to the Grand Duchy are being given the medication, aimed at preventing thyroid cancer in the event of a nuclear accident, as part of a commune welcome package. The potassium iodide tablets are also being made available to every household in Luxembourg in case of an accident at the Cattenom nuclear power station just across the border. The tablets are to be “used only in the event of an accident and upon explicit instruction by the authorities.” If this all smacks of the sort of Cold War public information rhetoric Raymond Briggs so movingly illustrated in his 1982 graphic novel When The Wind Blows, it is perhaps not so dramatic. The tablet distribution is described as an “early precaution” measure in line with the government’s latest emergency response plan. Some media reports suggest the new urgency comes in the face of a series of accidents, including two fatalities, at Cattenom--though none of the reported incidents have been related to a leak of radiation. Further uncertainty about the safety of Cattenom was raised more recently by the sighting of unidentified drones flying over it and other nuclear facilities around France. In an age where public safety scares from

contaminated foods to terrorism and Ebola are seemingly ten a penny; nuclear power hazards make for attention grabbing headlines. Unfortunately, politicians often respond to incidents with knee jerk reactions, like Angela Merkel’s decision to shut down Germany’s nuclear power programme in the aftermath of the Fukushima accident. Like airline crashes, nuclear accidents are dramatic. But like airline fatalities compared to road deaths, far, far fewer people have been killed due to exposure to radiation from nuclear power plants than die each year exploiting fossil fuels. And the effect the burning of coal, gas and oil has on global warming has been well documented. Yes, dealing with nuclear waste is a challenge that still requires a solid solution unless it is to come back to haunt future generations. However, the unfortunate conclusion--which may be as hard to swallow as an iodine tablet--is that until renewable energy technology has been made sufficiently efficient, nuclear power is the most viable option currently available to meet the world’s power supply needs. SAFETY FIRST Technicians retool a generator turbine in Cattenom December 2014

BMW i

Sheer Driving Pleasure

THE BMW I3. 100% SUSTAINABLE. 100% ELECTRIC.

The BMW i3 is no ordinary car. The ﬁrst 100% electric BMW is a pioneer in many ways. It distinguishes itself with a strong focus on sustainability. Thus, the eucalyptus wood for the dashboard comes from certiﬁed responsible forestry. And it goes much further. From design to production to recycling: every detail is focused on sustainability. Discover this revolutionary car on www.bmw.lu/i3 and book your test drive. BMW i. BORN ELECTRIC.

Environmental information : www.bmw.lu

The BMW i3 is available exclusively at your authorized BMW i partner:

Arnold Kontz • 184, Route de Thionville • L-2610 Luxembourg Tel. 49 19 41-1 • bmw@arnoldkontz.lu • www.arnoldkontz.bmw.lu

0 L/100 KM • 0 G/KM CO2

BMW i Sales & Info Center : +352 26 37 58 74 • cic.belux@bmw-i.lu

Pension, talk about it before! by anticipating things, you can get more out of it. Pay less taxes today and build up your pension for tomorrow.

ing.lu/pension ING Luxembourg, Société Anonyme – 52, route d’Esch L-2965 Luxembourg – R.C.S. Luxembourg B.6041

CONTENTS

DELANO DECEMBER 2014 9

Fresh from a data breach court case, Sven Clement calls for fundamental changes in attitudes to privacy laws. 10

SNAPSHOTS 20th course

Around 1,000 guests celebrated two decades of restaurant guide Explorator and publisher Maison Moderne. 12

EXPATS Big community, low profile

There are twice as many Chinese living in Luxembourg as Swedes. So why are natives of Middle Kingdom so discreet? 16

COVER STORY Engineers without borders

LIFESTYLE 48

UPFRONT Catching up with…

UPFRONT Perfect weekend

SNAPSHOTS British scouts turn 40

Delano talks with Netty Thines, a communications agency chief who is campaigning for more women entrepreneurs.

48 hours for international singles. 50

SNAPSHOTS Bollywood blowout

Telstar marked four decades of scouting in Luxembourg during a reception hosted by the UK ambassador.

GETTING INVOLVED Bazaar books

The Indian chamber says this year’s Diwali soirée at the Casino in Mondorf was its biggest and best ever.

INNOVATION Tracking airplanes

The co-heads of the International Bazaar book stand are bound to have a text for all tastes at this annual tradition.

JEWELLERY Good things come in small packages

Satellite giant SES is working on a new system that could help airlines save fuel and avoid mysteries like March’s Malaysian flight. 36

MEET AND GREET

Luxembourg Red Cross is looking for English speakers delano.lu/RedCrossMeet14

WORKSPACE Red hot at 1535°C

BACK IN THE DOCK

Brussels taking Luxembourg to court again over EU deadlines delano.lu/news/back-dock

A former steel mill in Differdange has attracted everyone from artists and architects to media firms to the new “creativity hub”. 40

How University of Luxembourg students are linking up to give rural residents in the developing world a leg up. 22

DEVELOPMENT “Prises d’autonomie”

FUNDS Revving up

There has been furious activity as the European alternative investment fund industry adapts to new regulations. But there is still a way to go. 42

FUNDS First Chinese UCITS

Luxembourg City is full of fine jewellers for the most special occasion and for everyday flair. 56

QUICK GUIDE Winter wayhay!

Fashion consultant Wendy Casey says it’s time to inject some drama into tired, uninspired wardrobes. 60

EU TAX DATA

Deal means “extra” not “equal” access, says Georges Bock delano.lu/news/what-could-beconcern-when-it-comes-automaticexchange-information

KIDS Holiday magic

‘Tis the season for Delano’s Christmas market guide.

Microfinance agency ADA marks its 20th anniversary with the photo exhibition and book. 24

POLITICS Family fracas

Prime minister Xavier Bettel sparked controversy with his government’s plan to reduce certain family support allowances.

China’s largest bank has entered the European investment market. The move is part of a big push, both globally and in Luxembourg, into new markets.

ON STAGE English drama

Check out four plays plus rock legends and new music acts.

MY OTHER LIFE Hunting for serenity

Restaurant executive Antoine Scholer has a secret place in the woods.

MY FAVOURITES Just the right note

Chicago native Dino Diviacchi, founder of Muzic Maestro, shares his three favourite music spots in Luxembourg.

FESTIVAL OF LIGHTS

Diwali helps bring people together, writes Pedro Castilho delano.lu/news/celebrating-india-sfestival-lights-luxembourg

HAVE A COMMENT? We are always looking for contributors and for reader feedback: news@delano.lu

December 2014

Pedro Castilho: Steve Eastwood

UPFRONT Carte blanche

BUSINESS

Georges Bock: Luc Deflorenne (archives)

CURRENT AFFAIRS

DELANO DIGITAL HIGHLIGHTS

Red Cross: Benjamin Champenois ILR offices: David Laurent (archives)

UPFRONT

CURRENT AFFAIRS 7 JUNE: 4 QUESTIONS

JUNCKER IN CHARGE

Luxembourg’s former prime minister has taken over as the head of the EU’s executive. Jean-Claude Junker is the third Luxembourger to serve as president of the European Commission following Gaston Thorn (1981 to 1985) and Jacques Santer (1995 to 1999). Juncker and his predecessor José Manuel Barroso shared what the European Commission called a “symbolic moment of handover” two days before Juncker was formally installed as the president on 1 November. The ceremony included the unveiling of an official portrait of Barroso at the commission’s Berlaymont headquarters in Brussels. Juncker expressed his admiration for Barroso’s performance during the euro crisis and also said that throughout the Portuguese president’s ten-year tenure he had always been a friend of Barroso. After being ousted in national elections last autumn following 18 years as head of the Grand Duchy’s government, Juncker’s political bloc, the European People’s Party, won the largest number of seats in the European Parliament in May’s elections. He was confirmed as commission chief over the summer.

ANDY SCHLECK

Luxembourg’s 2010 Tour de France champion announced his retirement from cycling in October, citing damage to his knee suffered in this year’s race. December 2014

ROYAL FAMILY

Grand Duke Henri and his family will receive an extra 400,000 euros according to 2015 budget plans, bringing their annual allowance from the state to 9.8 million euros.

Luxembourg voters will head to the polls on 7 June to decide several long-standing hot button political questions. A referendum on that Sunday will ask citizens to vote yes or no to four questions: should suffrage be granted at age 16, at their own discretion before they reach the age of 18 (when voting becomes compulsory); should non-Luxembourg citizens, including those originally from outside the EU, be granted the right to register to vote after 10 years residency in the Grand Duchy; should the state no longer be obliged to pay the salaries and pensions of the clergy from recognised religions; and should cabinet members be limited to a term of ten consecutive years? Only Luxembourg citizens on the electoral register will be allowed to vote in the referendum. Prime minister Xavier Bettel said that the referendum questions were aimed at finding out what Luxembourg wants for the future. “This is not a question about the popularity of the government nor that of Xavier Bettel,” he said, but it was about the commitment of the so-called Gambia coalition (Bettel’s DP party, the socialist LSAP and Déi Gréng) to modernise the Luxembourg state.

DRUGS WAR OVER?

Sven Clement: Mike Zenari Juncker: European Commission Schleck: Julien Becker Referendum: Olivier Minaire EU rebate: European Commission

Debate has been raging in the media over Luxembourg’s attitude to drugs after justice minister Félix Braz was quoted as saying that there should be a rethink in drugs policy. Braz was talking to the Luxemburger Wort after renewed calls from some pressure groups to decriminalise cannabis consumption. Among the most vociferous campaigners is an action committee made up of the youth arms of the three coalitions parties as well as left wing parties and the Pirates. Braz said that despite a recent trend not to seek to prosecute private consumption, fully legalising cannabis was not on the programme. The minister said he was not interested in principles or a philosophical discussion about drugs, but about facts. However, he did say there was plenty of room for manoeuvre.

EU REBATE

Luxembourg is among those member states whose contribution to the European Union budget has fallen significantly thanks to new GDP calculation methods. The Grand Duchy will pay some 90.9 million euros less into the EU coffers than in 2014. Other member states, most notably the UK, have seen their budget contributions rise. EU commissioner for financial programming and budget Jacek Dominik said the process was transparent.

CARTE BLANCHE

PRIVACY IS A HUMAN RIGHT

Fresh from a court case after he highlighted data protection weaknesses in the public health system, Sven Clement is calling for fundamental changes in attitudes to privacy laws. In the wake of the NSA, BND [German secret service] and Luxembourg secret service revelations it may sound strange to reaffirm the right to privacy as a human right. Yet it is my opinion that today it is even more important than ever to remind us, and our leaders, of the value of human rights in general; and the right to privacy in particular. It is often forgotten that human rights are not a recent invention. Most of their sources can be traced back many centuries. The best-known declaration of human rights is certainly the 1789 “Déclaration des Droits de l’Homme et du Citoyen” from revolutionary France. But the “Bill of Rights” from the United States is also a well-known statement of basic principles that should govern every human’s rights. Both have not only in common that they were written around the same time, but also that the signatories saw a right to privacy as a “condition sine qua non”, to guarantee political and religious freedom. They argued that only if free men could communicate and write without the fear of having their mail read by a third person, would they be truly free. In 1789 governments where unlikely to be able to read the mail of their citizens, yet great thinkers formulated a right to privacy in communications. Today, where the advancement of IT has made mass surveillance like that conducted by the NSA possible, this hurdle has fallen. Thus it becomes more important than ever to insist on our human rights. Because, if the argument for introducing more surveillance is terrorism, then we already have lost. If we act against our core beliefs--which human rights are--in order to gain a bit more apparent security, then the terrorists have won. They want to destroy our

culture and spread fear. Everybody calling for less privacy is therefore simply playing into their hands. I will not indulge you--dear readers--with an exposé of how our right to privacy is constantly being violated. Instead I want to propose some necessary reforms that would once again guarantee this basic human right. First of all, we need to accept that the right to private communications should not only apply to printed letters sent via snail mail, but to all our communications. Whether they are spoken, physical or digital. Regardless of whether we share pictures, videos or sound. The basic right to privacy should apply to all forms of communications. To do this in Luxembourg, we would need to add a right to informational auto-determination to the constitution, while at the same time updating article 11 to reflect a broader view of privacy. Secondly, to protect the constitutional rights that we should be implementing, we need a supreme court that can be called upon by all citizens whenever they believe their rights have been infringed upon. Only allowing ordinary citizens to sue for the respect of their rights will cement the latter. Otherwise they will erode quicker than quicksand in a tropical storm. Thirdly, we need to have a serious discussion about the goals and methods of secret services; be it the SREL [Luxembourg secret service] or the NSA, we need to have that talk. This means creating an independent supervisory body to watch the watchers and strong sanctions for non-compliance. Sven Clement is president of the Piratepartie Luxembourg. December 2014

CURRENT AFFAIRS

SNAPSHOTS

Text by AARON GRUNWALD

Photography by BENJAMIN CHAMPENOIS, GAËL LESURE AND VINCE MARTINELLI

20TH COURSE, BUT SAVE ROOM FOR DESSERT

round 1,000 people attended the birthday bash at the Grand Théâtre marking the 20th anniversaries of restaurant guide Explorator and Delano publisher Maison Moderne. The new edition of Explorator, out now, features the 250 best places to dine in the Grand Duchy. The first issue, released in 1995, was the publication that launched Maison Moderne as a company. Founder and CEO Mike Koedinger said that he could not have imagined the results two decades years later. “At age 23, I was more focused on producing the next Explorator than on what would happen in three or five years.” The firm went from Koedinger being the sole full-time employee in 1994 to a staff of some 80 today, with annual turnover of around €7 million. Maison Moderne also publishes Archiduc, City Magazine, Flydoscope and Paperjam, among other titles. To commemorate the milestone, Maison Moderne published Happy Inventory, a 512page look at both the company’s history and Luxembourg’s evolution over the past two decades, and a digital archive of all 20 years of its publications, available via a free Android and Apple app.

DOWNLOAD FREE ARCHIVE APP: MAISONMODERNE. LU/20

December 2014

A. Deputy prime minister Étienne Schneider B. Explorator editor France Clarinval and Claude Turmes MEP C. Franz Fayot MP (centre) D. Mike Koedinger on stage at the Grand Théâtre E. Paul Kirps, Alexis Juncosa and Anna Loporcaro F. Tim Wickler, Mario Notaroberto and Nicolas Szele G. Taku Miyamae and Laurent Mosar MP H. Carole Miltgen and Jean-Francois Lens I. Claude Michaux

With you, right from the start.

BIL is committed to making expats feel at home. Relocation to a new country can be challenging at times. That’s why Banque Internationale à Luxembourg is dedicated to offering you the right banking service at the right time, whether it be in Luxembourg or around the world: • One-stop-shop service: our solutions can be adapted to your personal needs • Our multicultural and multilingual employees will handle your request as a new arrival • International assessment of your personal situation when relocating elsewhere Contact one of our relationship managers by calling +352 4590-3000 and discover our dedicated solutions for expats at www.bil.com/relocation

Together for you Banque Internationale à Luxembourg SA, 69 route d’Esch, L-2953 Luxembourg, RCS Luxembourg B-6307

(+352) 4590-3000 contact@bil.com www.bil.com

CURRENT AFFAIRS

EXPATS

Text by STEPHEN EVANS

Photography by SVEN BECKER

BIG COMMUNITY, LOW PROFILE There are well over twice as many Chinese in Luxembourg as Irish, Americans or Swedish. Why are natives of the Middle Kingdom so discreet?

here are more Chinese living in the Grand Duchy than Dutch people and nearly as many as the British community. However, while Indians in this country proudly share their Diwali celebrations and South African Boerewors is a highlight of the International Bazaar, the Chinese New Year passes with little hype. Why? “The general attitude of being cautious and discreet is probably a cultural trait,” anthropologist Wu Jinting told Delano. Currently an assistant professor at the University of Macau, she worked as a visiting researcher with the University of Luxembourg for nine months in 2012-13. Her work here delved into the everyday lives of residents from a Chinese background. “Chinese history has been very troubled for many centuries, and this is liable to instil insecurity. I met people who have been in Luxembourg for many years and have been successful in the restaurant trade but still they continue to work hard. ‘We are immigrants here and you never know what could happen,’ is a common response,” she added. YEAR OF THE RED LION? New Year celebrations are generally private affairs, the famous dragon dances do not happen in public and China had a stand at the International Bazaar (see page 52) only for the first time in 2013. Their low community profile in this country is echoed in individuals’ wariness about opening up. Whether it is with fellow Chinese or not, there appears to be a widespread preference for taking time before being willing to reveal more personal thoughts.This discretion was borne out in researching this article. Most of the December 2014

people who were approached politely said they preferred not to talk. A bank employee backed out after a veto from their boss. Apparently, the owner of the Mangoo supermarket on the rue de Strasbourg has a leadership role in a cultural organisation. This could not be confirmed, however, as messages went unanswered. Dr. Wu says there are probably upwards of 4,000-5,000 people of Chinese origin resident in this country. In Luxembourg terms, this makes them a quite significant group but as well as their natural discretion there are other reasons why they are less visible. The vast majority work in the restaurant trade: a tiring business with unsocial hours that leaves little time or energy for clubs and organisations. Relaxing with family and friends is preferred. Hence there is a lack of federating structures to organise events. “Two New Year dinners were organised for Chinese people in Mondorf in recent years, but I don’t believe many people participated,” explained Ma Wai Siu, co-owner of Le Régent restaurant in Walferdange. “If you work in a restaurant you don’t necessarily want to go out after closing time. People would rather do things informally.” SLOW, STEADY MIGRATION

CHINESE RESTAURANTS The Ming Dynasty, one of many popular Chinese spots in Luxembourg City

Chinese immigration into Luxembourg appears to have begun in earnest in the 1970s. Early arrivals probably did not come directly but via other European countries. The exception were those working for the Bank of China, which opened a branch here in 1979: the bank’s fourth foreign office. However bank workers were and continue to make up only a small part of the overall population. The vast majority came via informal routes and for nearly all, restaurant work was the only option. Many have since gone on to open their own places, so that now all but the smallest villages have

a Chinese or southeast Asian eatery. There have been three main routes for Chinese immigrants: overstaying a tourist visa, via an illegal immigration agency and through acquiring permits to work or study. Dr. Wu estimates that 90% of current residents are from Qingtian County, so mostly migrants have followed relatives and friends here. Qingtian is 500km south of Shanghai, down the Ou River from the city of Wenzhou. Remarkably, the county is only slightly smaller than Luxembourg in terms surface area and population. It is in Zhejiang province, which has slightly more than the Chinese average for wealth per head of population, equivalent to that of a country like Turkey.

"TWO NEW YEAR DINNERS WERE ORGANISED FOR CHINESE PEOPLE IN MONDORF IN RECENT YEARS, BUT I DON’T BELIEVE MANY PEOPLE PARTICIPATED" MA WAI SIU

“I came 30 years ago to visit my sister and I just stayed,” said Ma, who was originally from Hong Kong. She worked in catering finally building up enough savings for her and her husband to open their own restaurant nine years later. They have two children who are currently at university in Trier and Munich. She is now a Luxembourg national, but is still attached to her Chinese identity, watching the news from Hong Kong every morning over breakfast. Ma’s fluent, heavily accented French contrasted with the well honed English of the only other Chinese immigrant we managed to speak to, Diwei Depienne. After working in international trade, she arrived here with her Luxembourger husband-to-be in 2008, worked for the Bank of China, and gained a master’s degree in finance from the Luxembourg School of Finance. In 2013 they left for Singapore where she now works in

the home caring for their young child. Her focus was on her family, work and studies during her five years here, but even so one might have expected she would be aware of wider Chinese-community activities. This was not her experience though. LEGAL MIGRATION This legal route into Luxembourg is becoming more popular. There are already three Chinese banks with their European headquarters here with three more set to arrive. Henan Civil Aviation & Investment Co taking a 35% stake in Cargolux earlier this year is further evidence of closer ties between the countries. The number of students coming directly from China is also rising. This is far from an easy option, though. Only those with the substantial experience, the best academic records or good connections have this legal route open. The only other option is paying a gang to be smuggled into Europe. Luxembourg is not always their first chosen destination. Dr. Wu found most just want to make it into the Schengen zone and they then find their way here. It helps that Luxembourg has a relatively relaxed attitude to illegal immigration. At the start of 2013, a widespread amnesty allowed 232 Chinese without papers to gain residence permits. The wider community is keen to reach out to new arrivals by offering them somewhere to stay and helping them find work. There are also close business ties as they help each other supply their restaurants. Most community connections appear to be quite loose. Groups of Chinese will get together to play badminton between themselves, but many chose to join the local clubs along with the rest of us. “Chinese people are very sociable,” Ma said and there appears to be a wide community spirit. For example, she is well acquainted with the naturalised Luxembourger Ni Xia Lian, December 2014

CURRENT AFFAIRS

EXPATS

CONTINUED

SAY "NI HAO"

POPULATION Selected populations of foreign nationals living in the Grand Duchy, according to official sources.

OFFICIAL BODIES 4000

3000

2000

1000

2001

2011

2001

2011

2014

China

1070

1610

2198

Netherlands

3692

3891

3972

USA

1127

1295

1935

Sweden

1130

1720

1761

Brazil

307

1203

1571

Ireland

894

1325

1527

India

199

569

846

Morocco

252

524

673

Turkey

207

366

521

the ex-world and European table tennis champion. There is an evangelical Christian church in Chinese here and it helps many new arrivals find their feet, as well as being a focal point for some longer term residents. However it is not a universally recognised as a federating force within the wider community. At school, the children face the similar tests of learning in multilingual environment, a challenge which is increased by the vast majority of children taking Saturday morning Chinese language lessons. The main Chinese language school is supported by China’s embassy. Also, tiredness can be a problem as many children are expected to help out in the restaurant at evenings and weekends. Wu points to parents being keen to instil a sense of Chinese December 2014

2014

Chinese embassy 2 rue Van der Meulen, LuxembourgDommeldange +352 436 991 lu.china-embassy.org Centre de Langue et de Culture Chinoises du Luxembourg Courses held at the Athénée de Luxembourg, Luxembourg-Merl; office at Lycée Ermesinde, Mersch +352 26 89 00 325 clccl.lu China-Luxembourg Chamber of Commerce 31 Grand-Rue, Luxembourg-Centre info@china-lux.lu china-lux.lu

Sources: Eurostat, Statec

identity in their children, while also wanting them to integrate. This is out of national pride but also the desire to help their children keep their options open. Some parents told her of their worries of their kids acquiring certain European values, particularly the more relaxed work ethic. FITTING IN Luxembourg’s multicultural environment is generally benign, with overt acts of xenophobia being rare. There is the almost inevitable teasing by school children and some adults appear to feel that they are criticised due to the actions of their country of origin. Also, some feel judged based on the perception that catering has a low social status. These feelings are

often amplified by nervousness about their long term future as immigrants. Nevertheless, the rise of China over the last two decades has helped to boost some people’s self esteem. “It is important to understand how hard Chinese people work,” stressed Dr. Wu. Restaurants are open six days a week and they are rarely closed for holiday. Many are driven by their desire for economic security and often providing financial help to family in China. “Many of the people I met are now quite wealthy, with many owning property and able to afford expensive cars,” she added. Most immigrants’ stories appear to be relatively positive. People are able to get on with their lives unobtrusively and peacefully, working hard as they feel they should.

Our clients get 360° attention Deloitte Luxembourg’s app is

COVER STORY

VOLUNTEERS AND UNIVERSITY OF LUXEMBOURG STUDENTS Xavier Besseron, Manuel Br端hl, Khadidja Chaib Draa, Sebastian Hien, Patrick Kobou Ngani and David Norta inside the Kirchberg campus laboratory bloc December 2014

Text by AARON GRUNWALD

Photography by JULIEN BECKER

ENGINEERS WITHOUT BORDERS How University of Luxembourg students are linking up to give rural residents in the developing world a leg up. December 2014

COVER STORY

CONTINUED

our years ago David Norta, an engineering student at Aachen University and volunteer with the group Engineers Without Borders Germany, was in Fiji for a course.While visiting several remote villages with unreliable electricity supplies, “I realized there are so many rivers, but they’re not used at all” to generate power, mainly because building tradition dams and turbines would just be too expensive for the local communities. He told himself: “We have to use hydropower somehow…” Today Norta is a PhD candidate at the University of Luxembourg and president of Engineers Without Borders Luxembourg. But that Fiji trip has inspired him in more ways than one. That is where he first came up with an idea for hydrokinetic turbines--in simple terms, creating electricity from the river’s flow--that is part of his current doctoral research. Norta’s PhD advisor told him “at the beginning, let’s keep all your research quite simple… so that it could also be applied in developing countries.”

COMBINED CAUSE Volunteering with the NGO “is quite nice because students can get experience for their life, they can really do something, but they also can combine Engineers Without Borders with their studies,” explains Manuel Brühl, a fellow German PhD candidate at the University of Luxembourg and the group’s committee member in charge of fundraising in the Grand Duchy. Inspired by the medical aid organisation Doctors Without Borders, Engineers Without Borders first got started in France during the early 1980s, spreading to Spain and Italy in the 1990s, and to America and Germany in the 2000s. Both professionals and students volunteer their time, but Norta calls the group’s name somewhat “misleading”. Although it builds essential infrastructure for things like energy and water in the developing world, he says the technology used does not require deep engineering knowledge. A group of psychologists lent a hand with one German-led project, for example. And while the branch in each country operates independently, December 2014

traditionally two or more nations team up on each project. Norta says after his first foreign mission, he gained “a certain self-confidence. When I installed my first system in India, I was so happy when the first hot water came out of there! Because Aachen is a very good university but the professors tell you that you will never touch a screwdriver, you will never touch a hammer, because as a mechanical engineer you’re just in the management team.” But being involved with EWB has showed him that “it’s also nice to touch a hammer, nice to know how to install stuff. I also think it helps in your high tech job later. I should think about how the technician can handle [a process] and how much time it takes. Because when you have the theory, you say, ‘yeah, but it’s written it takes half an hour to install it, so why do you take one hour?’ But if you do it yourself, you see that it took you two hours so perhaps when the technician does it in one hour, it’s pretty good.”

PRACTICAL PROJECTS A. David Norta during a research mission in Fiji earlier this year. Courtesy of Engineers Without Borders Luxembourg. B. / E. / G. / I. / K. Inside the University of Luxembourg’s Kirchberg laboratory bloc C. / J. Parents waiting outside the children’s hospital in Peddakorukondi, India. Courtesy of Engineers Without Borders Luxembourg. D. Part of David Norta’s hydrokinectic turbine research project

Yet there was no Luxembourg chapter when Norta arrived here. Determined to build on his earlier experience, he responded to a LinkedIn posting by a believer in EWB, Kumar Mysore. Originally from India, Mysore has lived in Luxembourg for more than two decades and works as an engineering manager at Cargolux. He ended up offering to assist Norta in getting a Luxembourg chapter off the ground. Among others, Mysore introduced Norta to the Association Luxembourgeoise des Ingénieurs and the Indian Business Chamber of Luxembourg, both of which have lent further support. (Indeed, Delano first heard about the new group when Brühl gave a quick pitch during an IBCL conference.) The university also formally backed Norta and his fellow volunteers.

earlier this year, and EWB Columbia on an energy and water project on an environmentally sensitive coral island in the Caribbean. “It’s very isolated; that’s the biggest challenge,” explains Brühl. The initiative aims to “implement an environmental restructuring of a vulnerable neighbourhood of San Andres Island based on sound practices in electricity generation, energy efficiency and water desalination,” says Diaz, who returned to his native country after graduation. While it is still early days, Diaz has garnered initial support from Columbian officials and volunteers. “We have created a really good team and we are working hard in both countries to [ensure the success of] these projects.” Longer term, Diaz says: “My hope is to be able to help people [using] my expertise in any country.” Even though the group has done quite a chunk of planning on these projects, funding remains a challenge and it has not raised nearly enough funds to carry out all the work it wants to do. In addition to its early supporters, EWB Luxembourg is financially reliant on private donations and annual membership fees, plus some modest grants from outfits like the university’s student association and BGL BNP Paribas. The Emirates Airline Foundation is underwriting the India flights.

FIRST MISSION

DAVID NORTA

STEP BY STEP

"WHEN I INSTALLED MY FIRST SYSTEM IN INDIA, I WAS SO HAPPY WHEN THE FIRST HOT WATER CAME OUT OF THERE!"

The Luxembourg branch was officially launched in December 2013. One year later, it is set to begin its first mission, in India. A pair of volunteers will head from Luxembourg and meet up with three members of EWB India; they will then inspect a 30 bed children’s hospital in the village of Peddakorukondi--about 250 kilometres east of Hyderabad--and prepare for the installation of a solar photovoltaic system for electricity and solar thermal system for hot water and water purification. The “project will improve the working conditions of the hospital by providing a stable, 24-by-7 electricity supply,” says Sriram Ramanathan, one of the EWB India volunteers, who studied computer science at the University of Luxembourg during the 2013-14 academic year and now is completing his master’s degree in Tamil Nadu. That Luxembourg link is a relief for Norta: “It’s really a person we know.” After the December reconnaissance mission is analysed, the Luxembourg-India team will return to Peddakorukondi and plans to complete the installation work by the end of February. Further down the road the group will work with Cesar Orlando Diaz, who earned a PhD in computer science from the University of Luxembourg

LUXEMBOURG LINKS F. Kadava Island in Fiji. Courtesy of Engineers Without Borders Luxembourg. H. Christiane Kirsch speaking with Manuel Brühl

Norta says the group is taking a step by step approach and has not yet asked for bigger grants since EWB Luxembourg has a new, unproven team. “In my experience over the past five years, there’s a lot of people especially at universities who are willing to help; there’s also a lot of ‘blah blah’.” But once the India project is completed, EWB Luxembourg will have a successful case study to showcase. Volunteers “can come back with some pictures. It sells a bit better than just talking about stuff.” He also wants the group to remain responsive to what local residents really need, instead of parachuting in to the country with pre-planned ideas. “A lot of development aid goes like that. Somebody here in Europe decides we need to do some biogas, December 2014

COVER STORY

CONTINUED

so let’s do some biogas. Normally the people [in development countries] don’t say no.” After all, who wants to turn down a gift of €10,000 in equipment? But if machinery sits on a flood plain or no one is properly trained in maintenance, the effort goes to waste, he says. The Luxembourg team wants “to create something longer lasting than, [for example] half a year.” Ideally it will follow the lead of EWB Germany, which has started checking up on projects two or five years later to see if installation still functions correctly, because “it should work” more long-term.

"THE PROJECT WILL IMPROVE THE WORKING CONDITIONS OF THE HOSPITAL BY PROVIDING A STABLE, 24-BY-7 ELECTRICITY SUPPLY."

HOW TO HELP Engineers Without Borders Luxembourg is looking for financial and volunteering support. The group has a standing meeting every two weeks on Wednesday evenings. Technical and non-technical backgrounds welcome. ewb-luxembourg.org

SRIRAM RAMANATHAN

Norta hopes the precise approach will help EWB Luxembourg eventually gain official NGO status with the Luxembourg government. “We have to do some projects and prove that we do a good job.” The status would entitle the group to a not insignificant amount of financial support from the state. “When you have proper funding you can also plan a bit more.” BACK TO FIJI Fiji is at least in the group’s future. After the India work is completed, Norta and colleagues from Luxembourg and Germany will head back to the southern hemisphere and link up with local university students. The German government’s climate change initiative has provided some preliminary funding “to install some hydropower and other renewables, and see how to electrify small villages because often their generators are broken so they don’t have electricity.” They will also “do some vocational training for maintenance” to make sure the investment is maximized. With a steady power supply, local entrepreneurs will be able to run workshops to produce coconut oil and furniture, and drive their country’s economic development themselves. Plus, when working in Fiji, who knows what will catch an EWB volunteer’s eye. December 2014

AN ASSET FOR YOUR CV:

Get your computer skills certified !

ECDL

European Computer Driving Licence

The ECDL is for everybody ! The ECDL is an internationally recognised certification which validates your IT knowledge. Over 13 million people in 150 countries have opted for this certification.

How to get the ECDL certification Place :

Chambre des salariés, 13 rue de Bragance, L-1255 Luxembourg

Testing method :

practical computer-based tests

Choice of languages :

English

Next session :

sessions are continuously organised during the day or in the evening

, German

The ECDL certification (optional) • E-learning training accredited by the ECDL Foundation in order to prepare interested candidates to successfully pass the certifications (10€, can be accessed for a year)

formati Further in l.lu cd on www.e

, y t i n u t r o p p o s i h t s s i Don’t m *! € 5 2 r o f L D C E get the

• LLLC seminars or evening classes

FFER :

SPECIAL O

ation CDL certific E e th s rt o p lly sup és) financia and dynamism. ri la a s s e d alism ambre r 2015. st Decembe ployees (Ch opulation’s profession m e f and until 31 o ns r tio e ra b st gi p m re orking The Cha the first 5000 is limited to our of the w v fa * This offer in ts c a and

13 rue de Bragance L-1255 Luxembourg

T +352 27 494 600 F +352 27 494 650

formation@LLLC.lu www.LLLC.lu

DETE I MAD ABOUT SOUL

, French

CURRENT AFFAIRS

MICROFINANCE

Text by DUNCAN ROBERTS

Photography by ANDRÉS LEJONA

BOOST FOR WEST AFRICAN YOUTH

December 2014

HIS OWN BOSS: ROMAIN ZONGO BUSY WELDING IN OUAGADOUGOU IN BURKINA FASO

As it celebrates its 20th anniversary, microfinance NGO ADA continues to support projects around the world.

n its 20th anniversary year, ADA commissioned Luxembourg-based photographer Andrés Lejona to take a series of photos in Burkina Faso and Bolivia that illustrate the way that microfinance has helped people become self-employed. Among his most striking images is this one of Romain Zongo, who managed to start his own business thanks to the Créd’art scheme launched some six years ago by ADA together with the RCPB microfinance institution and the West African Confederation of Financial Institutions (CIF). Créd’art is aimed at the growing artisanal sector, because it attracts young people with skills. These young people have a hard time finding stable employment and an even harder time starting their own small businesses. Few financial institutions are willing to take the risk of financing them, and even some microfinance institutions hesitate when it comes to granting microloans. But Créd’art does not just grant microloans, it also offers customised guidance and training in business management, allowing young men like Zongo and couturier Yacouba Sango to start their own business and even expand and employ others. Indeed, ADA is now using the term inclusive finance rather than the more familiar microfinance for its modus operandi. It defines inclusive finance as comprising all financial products and services tailored to populations that have traditionally been locked out of the conventional banking system. The exhibition, titled Prises d’autonomie, continues at Neimënster during European Microfinance Week from 12 to 14 November. The photos also appear in a book under the same title. ada-microfinance.org December 2014

CURRENT AFFAIRS

POLITICS

Text by DUNCAN ROBERTS

Photography by CHRISTOPHE OLINGER

GOVERNMENT CONFIRMS FAMILY POLICY CHANGES Prime minister Xavier Bettel’s keynote speech at the opening of parliament in October sparked controversy over the government’s family policy plans.

overnment plans to reform family policy, including abandoning a number of state aid packages, have outraged right wing opposition parties. The ADR’s Gast Gibéryen likened the plans to the communist policies of the former German Democratic Republic, and said that women would no longer have the choice of staying at home to care for their children. CSV faction chief Claude Wiseler, using less extreme language, also argued that the withdrawing of certain allowances meant that the government was making decision for families, rather than giving parents the choice between career and child care. However, prime minister Xavier Bettel, in his address outlining the government’s policy for the coming session of parliament, explained the coalition’s reasoning. He said that two main allowances would be eliminated--the allocation d’éducation (worth 485 euros per month until a child reaches the age of two as long as one parent does not work) and the allocation de maternité (worth 184 euros per week for mothers who don’t work for eight weeks either side of the birth). “We cannot spread the message, via these allocations, that the state wants young women to stop work completely,” said Bettel. He explained that too many mothers were dependent on their husbands and the state, and ended up in financial difficulty after a divorce. The government argues that its new policy direction will give women more financial independence. For instance, plans to adjust the minimum wage will provide more support for single mothers. Bettel also reiterated the government’s commitment to the congé parental, which is available to both parents and December 2014

XAVIER BETTEL The prime minister says the government’s new family policy will help more women become financially independent. Opponents argue it is robbing families of choice.

allows them to suspend their careers to stay at home for six months (or one year working half-time) while receiving a fixed compensatory income from the state. “Contrary to the allocation d’éducation, individuals taking the congé parental have a job guarantee,” said Bettel. “The congé parental is a proven pillar of a modern family policy.” Further reform will see all families receive the same child allowance of 265 euros per child in a single payment, easing administrative procedures. The government is also committed to its promise to introduce free universal childcare between the ages of one and three during school hours, which it argues will help prepare children for the multilingual education system. “This is an important step in terms of equal opportunities and integration,” said Bettel.

However, Bettel’s announcement of plans to introduce a 0.5% “contribution” from salaries to cover the costs of investing in the future of children have been met with significant opposition. A survey conducted by TNS-Ilres for the Tageblatt showed 71% answering “no” to the question, “is the financing of child care via an extraordinary contribution a good solution?” The prime minister justified the contribution--avoiding all talk of a tax--by arguing that these investments cannot wait until the state coffers are in better shape. He calculated that the contribution--which the government plans to introduce as of January 2015--would be about 12.5 euros per month for those on a salary of 3,000 euros, rising to some 37.6 euros for individuals earning 8,000 per month. “The future of our children must be worth this much.”

The Wiizbox, High speed broadband, but diﬀerent! Broadband@Home S Oﬀer up to 30 Mbps for only

14 ,99

€

per month

Terms and conditions apply.

TOTAL FREEDOM WITH YOUR INTERNET CONNECTION! • • • • •

Sign up for a broadband Internet connection, without unnecessary packages… for more freedom Take advantage of the technology oﬀered by our partner POST and the Wiizbox… for more power Be at the top thanks to the connectivity of the Wiizbox… for more opportunities Combine our oﬀers and take advantage of our discounts… for more satisfaction Opt for VoIP covering the whole of Europe… for more opportunities

Luxembourg City Place Guillaume II, 46

Luxembourg-Gasperich Shopping Center Primavera

Luxembourg-Hamm Rue de Bitbourg, 11

Bertrange Belle Etoile Shopping Center

Ettelbrück Grand-Rue, 26

Oberpallen Shopping Village Pall Center

Pommerloch Knauf Shopping Center

Schmiede Knauf Shopping Center

Esch-sur-Alzette Rue de l’Alzette, 90

UPFRONT

BUSINESS CHÂTEAU COULD BE SOLD TO CHINESE BANK

FOREIGN WORKFORCE Seven out of ten people working in the Grand Duchy at mid-year were foreigners, according to statistics bureau Statec. About one-quarter were EU nationals living in Luxembourg and 3% were non EU-citizen residents of the Grand Duchy. Nearly half (44%) were cross-border commuters. About one in five of all workers were French. Belgians and Germans each made up roughly 11% of Luxembourg’s workforce. Luxembourgers Cross-border commuters EU nationals living in Luxembourg Non-EU citizens living in Luxembourg

December 2014

A spokesman for ArcelorMittal told Delano that the firm was still considering its plans for the château. The company has spoken with several potential acquirers, but no decision was imminent, he said. The 15,300 square metre building was completed in 1922 as the headquarters of Arbed, a predecessor of Arcelor. ArcelorMittal shuttered operations there last year, moving around 200 staff to its offices in boulevard d’Avranches and Esch-sur-Alzette.

Seasonally adjusted Luxembourg employment by residence and nationality

TICKER

Fund trade group ALFI said Luxembourg was home to a record €3 trillion in assets under management at the end of September, up 15% from the beginning of the year, driven by net sales. All six Luxembourg banks examined passed the European Central Bank’s new stress tests; the two Luxembourg institutions checked in a separate European Banking Authority stress test also passed. Luxembourg agreed to “end bank secrecy” by signing on to the EU’s revised tax data sharing deal. A Luxembourg court declared two units of the Espirito Santo family, formerly Portugal’s largest banking group, bankrupt. The European Court of Justice heard arguments against the European Central Bank’s programme to buy euro zone government bonds; among others, Germany’s central bank is opposed. About 40% of European professionally managed assets are covered by some compulsory “socially responsible investment” criteria, according to a study by trade group Eurosif. Luxembourg’s 2010 GDP was revised upwards by 0.2% by Eurostat after the introduction of a new system that takes account of illicit activity such as drugs and prostitution. Consulting firm PwC moved its 2,500 employees into its new uber high tech Gasperich headquarters, called “Crystal Park”, with Luxembourg chief Didier Mouget (photo) saying: “We have redefined the work environment.”

ArcelorMittal château: Tilemahos Efthimiadis/Creative Commons

The Luxembourg City “château” owned by the world’s largest steel company could soon be sold to a Chinese bank, according to media reports. ArcelorMittal’s former headquarters on avenue de la Liberté will be bought by Bank of China for €100 million, broadcaster RTL said. The bank did not comment for the RTL story (and Bank of China did not return Delano’s message seeking comment either) and the report gave no details on potential renovations to the historic structure.

NETTY THINES The managing director of communications agency CATCHING UP WITH…

CLAUDE KREMER

The long time ALFI board member was elected to the board of the International Investment Fund Association, which is made up of 41 national and regional trade groups, at its annual meeting in Canberra.

Claude Kremer: Etienne Delorme (archives) ECJ: Flickr user sprklg/Creative Commons Joaquín Almunia: European Commission

UKRAINE CASES

Russian energy firm Rosneft and businessman Arkady Rotenberg are appealing the EU economic sanctions imposed against them over the summer at the European Court of Justice. No hearing dates are set.

AMAZON PROBE

Outgoing EU commissioner Joaquín Almunia ordered an inquiry into the tax treatment of the online retailer by Luxembourg’s government. Amazon and the finance ministry said there is no special deal.

Mediation is campaigning for more women entrepreneurs. When Netty Thines launched Mediation in 1991, there was “only one other communications agency which was run by a woman,” she says. “It was very hard to hire a man. It took me quite a while to be ‘diverse’.” Today her firm has a staff of eight (“now I’m in the happy position that we have three men”) and works with clients like ING and IBM. She also is one of 11 “female entrepreneurship ambassadors” in Luxembourg, a programme backed by the European Commission and women’s business group FFCEL. While female bosses are no longer such a rarity, “the question we have to ask ourselves is why we have more men than women in leadership positions” and “it’s not only the glass ceiling,” argues Thines. “This has to do with the way we work.” At Big Four firms “it’s normal that people work 14 hours per day and it’s expected that they’re available for the company on Saturday.” But the pace is not sustainable for everyone. “We are seeing more and more people suffering from burnout; we see that a lot of absenteeism is due to the fact that men and women can’t cope” with that workload. When asked which sectors are doing better at delivering work-life balance, entrepreneur Thines answers with a laugh, “everything linked to the public sector.” She recently spoke with a doctor who moved from private to public practice after the physician found it “very difficult to handle private life and work because the hours are really incredible.” In a public practice, doctors are grouped up so there is always a physician available for patients but work schedules are more balanced. Along with eight other “ambassadors” Thines will participate in a speed networking session for future female entrepreneurs at the Chambre des Métiers on 1 December from 4-7 p.m. (cdm.lu). Then she will help mount a traveling exhibition on Luxembourg’s pioneering female entrepreneurs that will travel to schools and commune halls starting in March (fea.lu). Thines wants to tell young women that “there are opportunities other than just working in the public sector or staying at home.” Starting a company “can give you a lot of satisfaction… [you can] become an actor instead of staying passive; you can take your life into your own two hands and go for it.” Interview by AARON GRUNWALD Photography by MIKE ZENARI December 2014

BUSINESS

SNAPSHOTS

Text by AARON GRUNWALD

Photography by STEVE EASTWOOD

"BEST SHOW WE’VE HAD" N

early 600 guests attended the Indian Business Chamber of Luxembourg’s annual Diwali festival on 18 October. It was the sixth time the chamber organised the soirée and this year was the largest ever, according to Sudhir Kohli, head of the IBCL. The event featured Indian cuisine, entertainment and a bit of networking. The “show was the best ever show we’ve had in Luxembourg” and such a “Bollywood related event has never taken place in Luxembourg till now,” he said. Diwali is the festival of lights, an important, family-centred festival for Hindus and Jains. It also marks the beginning of the traditional new year in India and in overseas Indian communities. Kohli explained that the chamber hosts the Diwali festival to help with: “integrating different communities in Luxembourg because the IBCL believes in integration. Luxembourg believes in integration, [celebrating] different faiths and traditions, and [the Diwali event] is another way to bring people from different communities and regions together.”

FESTIVAL OF LIGHTS A. Pranshi and Manoj Kamboj B. IBCL board member Vijay Goyal (on right) and family members C. Michel Scheuer, Elizabeth Carrillo, Claudine Wagner, Jill Schildgen and Xavier Gillet D. Ayaan Sookloll, Vaanee Patten (centre) and Mythili Patten E. Catching the show during the IBCL Diwali festival at the Casino 2000 in Mondorf F. Smriti Goyal, Vaishali Jalan, Simi Arora and Aarti Priya G. Camille Aub and Fanny Lamiroy H. Sudhir Kohli, Anita Kohli, Virginie Michielsen and Rik Vandenberghe

MORE PHOTOS: DELANO.LU/ DIWALI2014

December 2014

BUSINESS

INNOVATION

Text by STEPHEN EVANS

Photography by ANNABELLE DENHAM

TRACKING EVERY AIRLINER FROM LUXEMBOURG A satellite system under development could help airlines save fuel and avoid mysteries such as the Malaysian flight that went missing in March.

ECONOMIC BOOST Around 600 people work in the space sector in Luxembourg, generating as much as 4% of national production. SES accounts for the lion’s share of this. They are the largest satellite operating firm in the world with a fleet of 54 spacecraft that cover 99% of the world’s surface. SES TechCom Services is separate but is owned by SES, allowing them to concentrate on their specialisation of developing and testing new technology. They employ 50 people in Luxembourg and 40 in Belgium.

he whereabouts of Malaysia Airlines Flight 370 and its 239 passengers and crew is still unknown eight months after it disappeared over the Andaman Sea on 8 March. The anguish for family and friends continues, and the search effort is now the most expensive in history. Satellite technology is being developed in Luxembourg to track every airliner in real time, a system which would have located the crash site quickly. Not only would this have safety benefits but it could have other uses like helping airlines economise on fuel. Because the pilot or someone on board MH370 apparently turned off the plane’s main tracking device, the best guess is that the crash happened in an area of 60,000 square kilometres where sea depths average 6,000m. There is an alternative tracking system that need not be turned off (ADS-B), but currently this only works over land.

SPACE SITE: SPACECLUSTER.LU

GLOBAL SIGNALS “We have shown that we can pinpoint ADS-B signals anywhere in the world in real time from space using a constellation of about 30 small, cheap satellites,” said Gerhard Bethscheider of SES TechCom Services. By “small” he means machines about 1.5 square metres in size of the type produced locally by the microsatellite specialists LuxSpace. The network would be run from Luxembourg, using parent company SES’s global ground stations to gather information from the satellites. SES TechCom is leading a consortium within the European Space Agency featuring the German Aerospace Center and Thales Alenia Space Germany. December 2014

THIERRY DRAUS AND GERHARD BETHSCHEIDER “Small” satellites could give big economic and environmental benefits to airlines

They have been working on the idea since 2009 and earlier this year they successfully tested the idea in space. Global air traffic management authorities are looking closely at these developments and SES TechCom executives are hopeful their solution will find favour. “With a full system running and if pilots no longer have the ability to shut down their ADS-B transmitters [as happened on flight MH370] then we are confident we could have located the crash site within days if not hours,” said the firm’s Thierry Draus. There are other potential uses too, such as running north Atlantic air

routes more efficiently. Not only would this boost safety but it could cut costs. “Planes can use up to 10% less fuel if they ride the Atlantic jet stream,” explained Bethscheider. “Airlines have to purchase slots because it has become so crowded. But because we cannot track planes over the sea, for safety reasons these slots are bigger than they need to be.” A satellite-based tracking system would enable more slots to be allocated which would enable ticket prices and CO2 pollution to fall. Another use would be for real time track-and-trace services for logistics companies.

BUSINESS

INNOVATION

Text by JAMES WALKER

Photography by MIKE ZENARI

ONE OF THOSE LUXEMBOURG INTERNET DAYS

GET CONNECTED: LUXEMBOURGINTERNET-DAYS.COM

An ICT infrastructure provider is (pardon the pun) putting on quite a networking event in November.

he third week of November, the Grand Duchy opens its doors to the information and communications technology community with a conference featuring speakers ranging from Luxembourg’s prime minister Xavier Bettel to Android application engineers. Organisers say the event is an opportunity to feel the heart beat of the ICT sector in Grand Duchy and the Greater Region. Luxembourg Internet Days is divided up into three mini-events, starting off with a look into the online gaming and digital life and entertainment industries, then delving into the problem of internet security, before rounding it up with the silent world of data centres. The event is organised by LU-CIX, the Luxembourg Commercial Internet Exchange, a five year old outfit that aims to keep network speeds fast in the Grand Duchy. Its president, Marco Houwen, explains that “this event is important to raise awareness that, from an ICT point of view, Luxembourg is the place to be” and that it is very much “an event from professionals for professionals.” Although LU-CIX had previously put on specialised internet conferences in the Grand Duchy, this is the first year the group has combined the three fields into a single summit, the group’s Frédérique Ulrich tells Delano. She also says that it’s “important for Luxembourg to open its doors, to place ourselves in Europe and the world.” In Houwen’s view, Luxembourg has really developed this sector in the past couple of years, with people from all over the world starting to base themselves here at big steps in their career. Indeed, Ulrich estimates that around a third of the attendees will be coming from abroad, and she hopes that the event December 2014

FRÉDÉRIQUE ULRICH The conference is three networking events in one

will contribute to “placing Luxembourg on the map.” That includes Jérôme Labbé, a French software engineer who has started a video game company that launched in September called Carbon Fire Studio, the maker of “Frenchy Bird”, available for the Wii U. When asked why he signed up for the event, Labbé told Delano: “I really like Luxembourg. It’s where I work, where I wish to continue my career and so this is a great opportunity to promote my company.” He added: “It is an opportunity to network.”

With around 400 people already registered to attend at press time, and total attendees possibly exceeding 500, there shouldn’t be a lack of company. And with “mind-opening conferences,” “faster-than-light” pitches and “business speed-dating opportunities,” according to the event’s website, it aims to be an event to behold for the internet-savvy in Luxembourg and elsewhere. The summit takes place 17-18 November at the Chamber of Commerce in Kirchberg.

Clearstream Looking for a smart IT solution to connect to SWIFT?

You can trust Clearstream Services IT as a fully accredited “Professionnel du Secteur Financier” (PSF) to manage your SWIFT connectivity, while you are busy with your core business. We are regulated by the Luxembourg “Commission de Surveillance du Secteur Financier” (CSSF). www.clearstream.com/technology

BUSINESS

WORKSPACE

Text by DUNCAN ROBERTS

Photography by GAËL LESURE

COOL USE OF HERITAGE ENCOURAGES CREATIVITY Differdange is fast earning a reputation as the hippest town outside the capital. The first phase of the city’s new 1535°C creativity hub has already captured the imagination, and appealed to the budgets, of designers, film makers, architects, photographers and artists looking for a neat space to call their own. By the time the transformation of the former steel mill is complete, it will be an inter-regional platform for the creative industry, says project manager Tania Brugnoni.

It was necessary to give those individual creatives or small companies that were operating from home, or had no available workspace, a platform. We wanted to allow them to get out of the kitchen, the cellar or the attic.” So far the 6,500 square metre building has attracted such diverse clients as Radar, Carvalho Architects, communication design company kontext, artist JBK Fletcher, young readers publishing company Zoom editions and mobile technologies company Neopxl. Taking over much of the ground floor is daily newspaper L’essentiel, which started life in Differdange. Applicants have to fulfil certain criteria to be considered for tenancy. They must be professionals--individuals or companies--working in the “eco-creative industries” or offering services that have an impact on the creative sector. Potential to create jobs is also considered, as is the ability to create something innovative and a readiness to fit in to the 1535°C concept. And they must use the space on a daily basis while also undertaking to be non-polluting. Unsurprisingly, with tenants paying six euro per square metre (plus minimal charges) for a workspace, applications are oversubscribed--thus the adjudicating panel. “We don’t want to attract companies that just want cheap rent,” says Brugnoni. The project would rather support sustainable businesses that are seeking synergies and have the right spirit. The strict policy is working. Brugnoni, like the Radar team, has noticed that the tenants already in situ have taken it upon themselves to meet up and exchange ideas. Artist JBK Fletcher (see interview page 58) says that even if nothing concrete comes of these

he days of clearing breakfast from the kitchen table before beginning the working day are long gone for those creative industry professionals who have set up shop in the hippest new space in the Grand Duchy. Now people like Ben Andrews, Fred Neuen and Tim Lecomte of Radar (see panel page 36) can work in personally designed spacious and comfortable studios in the 1535°C complex--housed in a former steel mill in the southern city of Differdange. After going through an application process and being deemed suitable by an adjudication panel, Radar managed to bag a workspace and an adjoining production studio in the first phase wing of the building. “When we first came to visit there was nothing, but you could see there was a great blank canvas for an office space. And of course, we’re surrounded by natural locations that we can use,” says Andrews pointing to the disused industrial buildings outside the window. Lecomte was initially worried about the choice of companies that would be sharing the space. “Usually when something is run by a commune, it’s mostly people that the mayor or someone from the council knows, friends of friends.” But those fears were allayed after a few weeks when the administrators organised a barbecue at which tenants introduced themselves. “We could relate to everyone quickly,” says Lecomte.

and established companies. “It provides added value to the tenants if they can benefit from the experience of their neighbour, and we also wanted to encourage synergies between them.” Lecomte admits that the Radar team was sceptical at first. “We thought this whole idea of cooperation between the companies would be forced, but it has happened quite naturally.” The first 6.5 million euro phase of the project will be completed early next year. Building A, like the others taken on a 30-year lease from owners ArcelorMittal, consists of 40 workspaces of varying size and comfort. They range from high-ceilinged self-contained studios fashioned from existing rooms to more contemporary glass-fronted offices created from wooden frames installed into an open space. It will soon include a co-working space linked to the global Talent Garden network, allowing professionals in the digital and creative fields, whether 1535°C tenants or not, to work, meet and host events. A brasserie will also open to serve tenants and encourage visitors to 1535°C. “We decided to invest in the buildings to kick start an economic upturn for Differdange,” says Brugnoni. “Of course, we also expect other medium- and long-term benefits, such as a demographic diversification [Differdange is an overwhelmingly working class town].

STRICT CRITERIA

"I JUST NEED TO SHOW PEOPLE AROUND THE BUILDING AND THEY IMMEDIATELY GET IT."

1535°C project director Tania Brugnoni explains that the adjudicating panel specifically selected a mix of start-ups December 2014

TANIA BRUGNONI

DESIGN SPACE A. Inside the studio of Carvalho architects at 1535°C

December 2014

BUSINESS

WORKSPACE

CONTINUED

RADAR LOVE B. Tim Lecomte, Fred Neuen and Ben Andrews are thrilled with their new premises

informal meetings it is good to be surrounded by all that creativity. “You have access to photographers and film makers and others, and it’s good to just bounce ideas off each other. Even if it’s just a chat over coffee, it’s like-minded chat.” POPULAR APPEAL “From the start, when we worked on the concept for two to three years, we conducted surveys to find out what was required by the cultural and creative industries,” Brugnoni explains. If the concept was initiated by only a few and not understood by everyone, it has now found popular appeal. “I just need to show people around the building and they immediately get it,” she says. The impact has been instantaneous, December 2014

but Brugnoni explains that it required political courage to go ahead with the project. “We are in the heart of a neighbourhood, not stuck out in some industrial zone. So we want local people, and others from further afield, to visit.” As well as the Brasserie Schräinerie, the building will host an events venue and plans to create a “made in Luxembourg” concept store. This fits in with the city’s manifesto, to create a brand image that reflects the relationship between economic power, modern technologies and culture, whilst preserving its historical and industrial legacy. Building C will cost around 10 million euros to renovate, with work expected to begin in 2016 on converting the 7,000 square metre building into more

workspaces, recording studios, rehearsal rooms and workshops. Building B, which has the potential of opening up a 3,400 square metre supersurface, will cost at least another eight million euros. Brugnoni says the commune does not have the sort of budget required to carry the cost alone. “It is important for national authorities to take on some of the responsibility, because we are not doing something just for local residents or the local economy. This project has a national impact, and this will become even more evident in the coming years as it grows into an inter-regional platform for the creative industry.” 1535.lu

RADAR ON THE RISE The move to 1535°C has allowed production company Radar to take their creativity to a new level. Having an adjoining studio space to their office allows the team to test ideas straight away, explains Fred Neuen. For instance, they have built a 3D set built for an innovative animation project. “The idea is to be as independent as possible, to be able to do everything ourselves,” says Tim Lecomte. “I like that we can take an idea and just run with it in-house,” says Ben Andrews. Neuen explains that Radar is not an executive production company that simply takes on external assignments. “We at least like to be able to put in our five cents worth,” adds Lecomte. “If we can’t endorse an idea we won’t do it.” Recent work, which has helped put Radar’s name on the map, includes a series of three well-received documentaries for the 75th anniversary of the ABBL bankers’ association and a video for Luxembourg’s internationally acclaimed electronic music artist Sun Glitters. thisisradar.com

> NOVEMBER 2014

Entrepreneurship at the clients’ service Officially founded in Luxembourg in 1953, the firm has evolved and expanded to become a leading global financial services provider, offering tailored and cost efficient solutions in a highly responsive manner. Today, SGG Group has 550 experts on 5 continents, a client base ranging from high-net-worth-individuals and entrepreneurs to large multinational corporations, private equity and real estate fund managers, and a full range of services encompassing corporate and fund administration, consolidation and global accounting, depositary and custody, and AIFM and family office support offerings. Just how did SGG scale an inherently conservative business activity from a small operation of a few dozen employees to a global network of industry professionals? The key word has been, and always will be, entrepreneurship. Out of the four corporate entrepreneurship models academics identify, SGG has applied at least three of them. A culture of intrapreneurship. By creating a culture where any idea can be discussed and developed based upon a risk-profit assessment, SGG has embedded a capacity and clarity for growth. The firm recently introduced its family office services, and, years ago, fund administration services; both were launched from singular initiatives, and have resulted in sustainable business lines today.

A client-centric approach to innovation. By challenging the ordinary, SGG brings advanced solutions to the industry’s most arduous challenges. The Group’s integrated alternative funds servicing platform - global corporate, fund administration, depositary services, compliance services, AIFM support services combined to thin management layers, and a fast time-to-market sets the ground for enhanced operating models in its respective markets. These cornerstones of entrepreneurship are strengthened by a multitude of factors. The Group’s shareholding structure, a combination of a majority long-term shareholder with the Group’s management, facilitates client-shareholder-management interest alignment, and provides resources to finance further developments. Moreover, its market expertise, management leadership, and relentless pursuit of new challenges, further perpetuate its leading role.

A commitment to value creation. By continuously re-thinking the way it operates, and the subsequent value it creates, SGG fosters a unique service proposition for its clients. For example, the Group develops a new global accounting network model, making it the absolute global service provider, at an efficient cost for its clients.

Arnaud Bon Private Equity & Real Estate Industry Leader

M arnaud.bon@sgggroup.com T +352 466111 6379

We support your ambitions.

www.sgggroup.com

BUSINESS

FINANCE

REPEALING OR DOUBLING FATCA? Mike Lee, a US senator, was in Luxembourg recently to ask why Americans “living abroad have to suffer” because of US tax rules. T he Foreign Account Tax Compliance Act “makes the unfair presumption that Americans living abroad can’t be trusted on tax,” US Republican senator Mike Lee said during an American Chamber of Commerce lunch in Kirchberg. Supporters of the law say it helps stop tax evasion. Opponents believe it will not achieve its aim, that it infringes the personal right to privacy and harms investment. “Americans wouldn’t put up with this law at home, so why should the 7 to 8m of our citizens living abroad have to suffer?” added the Utah senator. He was heading a Republican party delegation which has also taken this message to Paris, London and Geneva. FATCA is often quoted as one of the driving factors that has led to Luxembourg and other international financial sectors deciding to end banking secrecy. However, sceptics believe the move

MORE AT: DELANO.LU/NEWS/ WHERE-HAS-MONEYGONE

will have minimal benefits which will be outweighed by the costs and unintended consequences. For example, the Luxembourg Bankers’ Association reckons each of its members has had to spend €800,000 on average to conform. In response to Lee’s visit, Kathryn Solon, the international chair of Democrats Abroad, said in a statement: “Let’s fix FATCA and let it do what it was meant to do--catch tax cheats.” Senator Lee admitted that there was little chance of the measure being repealed soon, but promised to keep fighting because “when our rights are impaired we should challenge this.” This message was warmly welcomed by the audience of local business people. Yet with there being advanced plans for a European version of FATCA, the likelihood is more of the same. Text by STEPHEN EVANS REPUBLICAN DELEGATION US senator Mike Lee (centre) with party activists Jim Bopp and Solomon Yue in Luxembourg

MISSING MONEY

MORE FINANCE NEWS: DELANO.LU

A Swiss asset manager accused the recently deceased Thierry Leyne--who ran an investment group chaired by the former IMF director Dominique Strauss-Kahn--of fraud. Christopher Cruden of Insch Capital Management told Delano that the Assya Asset Management arm of Leyne StraussKahn & Partners made $400,000 in unauthorised trades. In Cruden’s view, the money was used in a “pump and dump” scheme to artific ially drive up the value of LSK’s stake in a Swiss insurer. A Luxembourg court placed Assya under the control of financial regulator CSSF on 30 October. Cruden said: “They took six or eight million euros… Where has the money gone?” LSK did not return Delano’s message.

FINANCIAL AID

“The EU had called on all member states to make an effort to help these countries and the Luxembourg government beared its share with this initiative.” Patrick Wallerand of training agency ATTF, which turned 15 in October and since 1999 has helped regulators and financial institutions in more than 50 developing countries from Cape Verde to Vietnam. More than 3,000 people attend its technical seminars annually. December 2014

Republican delegation: Annabelle Denham LSK offices: Luc Deflorenne Patrick Wallerand: Luc Deflorenne (archives)

BY YOUR SIDE, FROM ONE GENERATION TO THE NEXT

Investment advisory services

â&#x20AC;&#x201C;

Tel : ( +352 ) 499 24 1 www.banquedeluxembourg.com

Capital preservation, wealth management and inheritance planning

Illustrator: F. Borderie

Our clients entrust us with the management of their assets from one generation to the next. We are by their side to advise them on growing their savings and passing on their assets. We also finance their projects as part of a comprehensive wealth management approach.

Services for families and entrepreneurs

BUSINESS

FUNDS

Text by STEPHEN EVANS

Photography by MIKE ZENARI

REVVING THE ALTERNATIVES ENGINE There has been furious activity as the European alternative investment fund industry adapts to regulation. However, there is a way to go before the EU Alternative Investment Fund Managers Directive rules can become a global standard.

uxembourg is busy selling itself as the international centre with all the solutions and there are promising early signs. However, many of the rules implied by AIFMD are unclear. Can the country provide the reassurance the industry needs? With low interest rates driving professional investors to seek different ways to make returns, financial sector analysts are queuing up to predict strong growth in alternative investments worldwide. This would be good news for Luxembourg, which is currently second place in Europe for alternative fund managers who have been approved for regulation under AIFMD. There were 159 in mid-October, well over twice the figure for the country’s main cross-border rival, Ireland. A further 70 applications are pending. Funds are growing here too, with assets now at €250bn, with €500bn being targeted. COMPLIANCE COSTS However, a recent survey by the consultants Crestbridge, “The Impact of AIFMD”, reported continued uncertainty and grumbling. “AIFMD has raised the administration costs in our funds by approximately 50%, but I do not expect any investor will ever be able to identify a single benefit,” groaned one manager in the report. Optimists say these are just teething troubles and that tough, fair rules will enable the industry to attract increasing numbers of investments, including retail savers. Another manager quoted in the survey said: “We have experienced the full spectrum of [client] interest from December 2014

ALTERNATIVES A. New rules means new opportunities for Luxembourg, says Keith Burman B. More work on tax regulations is needed, reckons Claude Niedner

‘not at all interested’ to ‘if you are not AIFMD compliant we won’t invest.’” Convergence between traditional and hedge fund managers “within five years” was predicted by Theresa Hamacher, the president of the US fund association NICSA speaking at the September Global Distribution conference in Luxembourg. She said that products will be different but this suggests a move towards alternative funds becoming mainstream.“There is a steep learning curve, in particular for property and private equity as managers move from a completely unregulated

environment into one with tough rules,” commented Claude Niedner, chair of the alternative investments committee of the local trade body ALFI. The hope is that when the culture shock subsides the industry will be able to make a play of advantages such as the single European market, greater focus on risk, standardisation and economies of scale. However, increased cost is the greatest worry, potentially cutting Europe off from international investors and penalising smaller managers. Although the initial burst of activity has been impressive, Niedner thinks

ALTERNATIVE FUNDS CONFERENCE 25-26 NOV: ALFI.LU

on private placement regimes to bypass AIFMD and the European Commission might decide this could continue. And rules on remuneration are both “onerous and remain unclear” he added, a further deterrent to US managers to use a European AIFM. The directive was created hastily in the wake of the financial crisis and thus requires significant fine-tuning. LIMITED PARTNERSHIPS

it unlikely this momentum will be sustained. “Managers in the European market have had to move quickly, but those from third countries are taking a wait and see approach,” he explained. “The ‘passport’ which will allow third country managers to market funds across the EU will not be introduced before late 2015 and there are still questions whether it will be introduced at all,” Niedner added. Also the rules about “private placement” (which involves the sale of securities to selected investors) are not to be harmonised until 2018 at the earliest. Many US managers rely

“The special limited partnership regime is familiar to Anglo-Saxon users and has proved attractive,” pointed out Keith Burman, chairman of the ALFI real estate sub-committee. So far around 200 have been approved. He is also looking forward to the planned introduction of real estate investment trusts. Although the current rules work well for the 300 or so real estate funds here, there is an extra administrative hurdle for players from countries that are more used to trusts. Luxembourg is the leading jurisdiction for cross-border real estate funds and this will help further. “The government has asked us for a proposal and after discussions with all interested players we will have something concrete on the table for 2015,” he commented. He pointed out that

there are many varieties of dedicated property regimes in the world and Luxembourg will have to pick one. This probably will not be a “killer app” type change but it will make the difference for some about whether they come to Luxembourg or not.

"THERE IS A STEEP LEARNING CURVE, IN PARTICULAR FOR PROPERTY AND PRIVATE EQUITY AS MANAGERS MOVE FROM A COMPLETELY UNREGULATED ENVIRONMENT INTO ONE WITH TOUGH RULES." CLAUDE NIEDNER

More work is required though. “Tax transparency for limited partnerships would make them particularly attractive,” Niedner pointed out. There are also concerns about the possibility of more regulatory tinkering. AIFMD regulates the managers rather than the funds they sell and the industry feels this should be sufficient. Nevertheless, the new rules have given the country opportunities. “This year has been about compliance, but now we can go out and start marketing across Europe,” Burman added.

SHOULD YOU BE SCARED OF HEDGE FUNDS? The hedge fund manager is one of the 2008 crisis’ boogymen. After all, if you don’t know what someone in finance does they must surely be up to no good, right? The reality is that hedge funds and other “alternative” funds help balance the market and reduce instability. “Increases in the amount of speculative capital improve market liquidity and reduce… volatility,” says Do Hedge Funds Supply or Demand Liquidity?, a recent study by the University of Luxembourg. Share prices have boomed over the last five years leading some to fear there could be a bust around the corner. This is why the professional investors who manage our pensions and insurance have turned to alternatives. Most common are investments in real estate, but other options include road projects, investments in private businesses (so-called “private equity”), betting that share prices will decline, timber farms… stock markets might crash but there is a good chance these investments could compensate. Risk is lessened further by grouping ranges of these investments into funds.

December 2014

BUSINESS

FUNDS

Text by AARON GRUNWALD

Photography by MIKE ZENARI

FIRST CHINESE MUTUAL FUND China’s largest bank has entered the European investment fund market. The move is part of a big push, both globally and in Luxembourg, into new markets.

he first Chinese bank has received approval to enter the European investment fund sector. Industrial and Commercial Bank of China unveiled its first EU mutual fund in October, as part of the bank’s concerted overseas push and the internationalisation of China’s currency, the renminbi (RMB). ICBC, the world’s largest lender by assets, arrived in the Grand Duchy three years ago, and over the past year alone it became the authorised bank for renminbi clearing operations in Luxembourg, Cambodia and Singapore; received a license to open a branch in London and announced plans to open branches in ten countries in Africa, Asia and Europe; acquired 75.5% of a large Turkish bank; and expanded its existing operations in Argentina, Canada and South Africa. “In order to actively get involved [in the Luxembourg] market, we are trying to diversify our range of services into investment banking, private banking and asset management, cross-border RMB business and global cash management, in addition to our existing commercial banking activities such as trade finance, bilateral and syndicated loans,” Li Bing, head of ICBC’s asset management business in Luxembourg, told Delano. “The launch of the UCITS fund is our first attempt in the European investment fund industry, with the idea of leveraging our experience in the Chinese onshore market, especially the China inter-bank bond market, and our network in continental European countries, which could provide ‘China Concept’ investment products to European investors and facilitate our private banking and asset management business in the local market,” Li said. “We do see more and more interest from European institutional investors December 2014

in diversifying their portfolio and currency exposure given the current economic situation in the euro zone,” he added. “Our UCITS could be an ideal candidate within their choice.” As for future plans, Li stated: “We will proceed [with] our product development based on the market reaction to our UCITS and provide more competitive investment products and solutions to European investors.” ICBC currently employs more than 90 staff in Luxembourg, according to Li. “We plan to add more staff in the coming year with the development of our business.” Those positions are likely to be client focused. ICBC appointed RBS Luxembourg as its “third party independent management company” handling administrative and risk management functions. “It wasn’t a quick decision,” Revel Wood, CEO of RBS Luxembourg, said in an interview. “We’ve been in discussions [with ICBC] for quite some time. They were very methodical” in conducting due

CHINA CONCEPT Li Bing says ICBC wants to diversify in Europe and European investors want to diversify into China

diligence on both his unit and his parent company. Ultimately RBS’s track record in trustee and depositary services--which date back to 1935 in the UK, Wood noted--and its presence in China sealed the deal. Plus in Luxembourg “we have Mandarin speakers in our office, which of course was of benefit.”

We help businesses operate globally, supplying administrative, legal, HR and tax compliance services in more than 80 countries – and with more than 5,000 staff worldwide - to help companies expand and invest across borders.

Global reach, local knowledge

TMF Group is a leading global provider of high-value business services to clients operating and investing globally. We focus on providing specialised and businesscritical financial and administrative services that help our clients to operate their corporate structures, finance vehicles and investment funds in different geographical locations. TMF Group is the global expert that understands local needs.

T: +352 42 71 71 - 1 E: luxembourg@tmf-group.com W: www.tmf-group.com/ luxembourg

TMF Group Luxembourg TMF Group Luxembourg has a strong and experienced multilingual team of industry specialists in accounting, legal, HR & payroll and fund administration servicing international corporate clients, stock-listed multinationals and Private Equity & Real Estate investment structures. In an office with staff of 38 different nationalities, we are proud to be a multicultural jurisdiction, where we have the possibility to help and assist you in your own language. Our staff understand the needs of our clients, no matter from where they originate, and are able to operate under tight administrative reporting deadlines with a responsive and pro-active “can do” attitude. We provide a full range of management & domiciliation, corporate secretarial and administrative services to help you stay compliant with local laws and regulations, better control your costs and simplify your operations to let you concentrate on your core business. Whilst we have taken reasonable steps to provide accurate and up to date information in this publication, we do not give any warranties or representations, whether express or implied, in this respect. The information is subject to change without notice. The information contained in this publication is subject to changes in (tax) laws in different jurisdictions worldwide. None of the information contained in this publication constitutes an offer or solicitation for business, a recommendation with respect to our services, a recommendation to engage in any transaction or to engage us as a legal, tax, financial, investment or accounting advisor. No action should be taken on the basis of this information without first seeking independent professional advice. We shall not be liable for any loss or damage whatsoever arising as a result of your use of or reliance on the information contained herein. This is a publication of TMF Group B.V., P.O. Box 23393, 1100 DW Amsterdam, the Netherlands (contact@tmf-group.com). TMF Group B.V. is part of TMF Group, consisting of a number of companies worldwide. Any group company is not a registered agent of another group company. A full list of the names, addresses and details of the regulatory status of the companies are available on our website: www. tmf-group.com. © November 2014 TMF Group B.V.

From anywhere in the world, TMF Group’s global office network provides you with a single contact to coordinate all your cross-border compliance needs tmf-group.com

BUSINESS

AGENDA

TEN EVENTS

Delano presents a selection of upcoming business and networking events for Luxembourg’s international community. Advance registration or fees may be required, so consult the website indicated for full details. All events are held in English. FAMILY AFFAIR

Tue 18 Nov Startup Grind

Conference on how family-run firms can compete in the global marketplace and prepare for the next generation to take over the shop. Speakers include labour minister Nicolas Schmit. BGL BNP Paribas, Luxembourg-Centre, 18:00

Karen Schintgen of Lux Future Lab talks about the incubator, which aims to “have a positive impact on the social and economic dynamics of the country by supporting entrepreneurship and education.” Lux Future Lab, Luxembourg-Centre, 18:30

ibcl.lu

RIGHT DIRECTION? Wed 26 Nov

British chamber bcc.lu

During this evening business forum, consultants from KPMG will present the latest “Luxembourg Business Compass”, the firm’s annual 12-month outlook for the Grand Duchy’s economy. DoubleTree Hotel, Luxembourg-Dommeldange, 18:00

University of Luxembourg

Hub Dot

The second Academia Meets Business conference, organised with UBS, tackles the “Investment Outlook Post Financial Crisis”. Speakers are UBS analyst Rolf Ganter and Andrew Karolyi of Cornell University. La Table du Belvédère, Luxembourg-Kirchberg, 14:00

The women’s networking group (attendees wear a colour-coded signal instead of a nametag) hosts an evening on “our passion for food” with speakers sharing personal culinary stories. Places limited. Am Garage and Robin du Lac shops, Luxembourg-Hollerich, 19:00

Wed 19 Nov

hubdot.com

Cloud computing and digital natives are changing “the office”. In this workshop Philippe Hougardy of Telindus talks about how to help employees successfully work anywhere. Advanced registration obligatory. Abbaye de Neumünster, Luxembourg-Grund, 09:00-12:15

SHINING A LIGHT Wed 10 Dec

American chamber amcham.lu

Seminar on “Demystifying shadow banking”, which is when investment funds, for example, make loans instead of a bank. New EU rules could impact roughly 10% of Luxembourg’s fund sector, says ALFI. Venue to be announced, 18:30

43,5 X 23 MM

MORAL BONDS Thu 27 Nov

HOLIDAY HOBNOB

TIGFI

tigfi.org

Hans J. Blommestein of the OECD addresses financial ethics club TIGFI on “Sovereign debt restructuring”: “the application of ethical principles” in the cases of Argentina, Ecuador and Greece. Cercle Munster, Luxembourg-Grund, 11:30

Sales, Research Estimations 4-6, Rue Adolphe, L-1116 Luxembourg tél. : 26 97 97-8101 • info@epestate.lu

December 2014

club.paperjam.lu

43,5 X 23 MM

startupgrind.com

HITTING THE SPOT

uni.lu

Thu 4 Dec

Special guest at chamber’s annual Thanksgiving dinner is Étienne Schneider, Luxembourg’s deputy prime minister and economy minister, who always gives a frank address; plus entertainment and tombola. Kikuoka Golf Club, Canach, 19:00

FINANCIAL FORECAST Tue 18 Nov

Fri 21 Nov amcham.lu

43,5 X 23 MM Mon 17 Nov

MOBILE WORKSPACES

American chamber

LAB TALK

Indian chamber

LET’S TALK TURKEY

43,5 X 23 MM Fri 12 Dec British chamber bcc.lu

The chamber’s Christmas luncheon is a popular annual tradition. A nice meal and nice networking. But book early as space is limited. Hémicycle, Luxembourg-Kirchberg, 12:00-14:45

HAVE A SUGGESTION? If your organisation is holding a business or networking event of interest to the international community, send details to: news@delano.lu

alfi european alternative investment funds conference

THE FUTURE IS

www.alfi.lu

centre de confĂŠrences kirchberg, luxembourg november 25th & 26th, 2014

SECTION BUSINESS

THEME PRENOM NOMPhotography EASTWOOD NOM Text by TONYA Text by STONEMAN Photography by STEVE by PRENOM

HUNTING FOR SERENITY Restaurant executive Antoine Scholer has a secret place in the woods.

ntoine Scholer’s morning routine is a bit different from that of his counterparts who hurry out the door each morning to their corporate jobs. Although he works for a major company, he frequently spends the wee hours of his day hunting wild roebuck before turning up at the office. Scholer is the CEO of Happy Snacks, a restaurant company specialising in the franchise business of brands like Exki and Pizza Hut; he also chairs the Luxembourg chapter of the Miami University Alumni Association. No stranger to the outdoors, he grew up in a family of farmers for whom hunting was a way of life. His kin were grateful for the opportunity to provide their own food, a practice that wasn’t always afforded working class people. “After the 1848 revolution, the aristocracy gave the privilege of hunting to the common people,” he says. “Before then, if you hunted, you could go to jail. But afterwards, in Germany, the rights became more open. Basically, people who lived on the land were familiar with hunting.” For Scholer, hunting is a deeply personal experience. He remembers every animal he has killed, even the pheasants and the ducks. Taking another creature’s life is not something he does lightly. When he hunts game with friends, the deceased animals are brought to a central place where branches of fir trees are spread on the soil to make a resting place. The animal is put on the bed of branches with a piece of milk plant in its mouth and a fellow hunter plays traditional music on a horn. “It is customary to give them the bite to say thank you,” says Scholer. “You thank the animal for its sacrifice.” His respect for wildlife is the reason he only hunts at close range. “I have a December 2014

MY OTHER LIFE

problem with long distance,” he says. “It’s too easy. You have to give the animal a chance to flee.” “My favourite part is the peace of being out in nature,” he says. “I read, observe. I watch birds and spiders. Nobody is bothering you. You sit there and listen to the trees creak and crack. It’s wild. When I hunt, I become one with nature.” Although hunting is a sport that requires a great deal of work and patience, it is precisely these things that make it so worthwhile. Over the years, he has returned to the same spots and even built a hunting cabin in the woods where he spends a great deal of time. Once or twice a week, he gets up at 4 a.m., goes to the hunting grounds an hour before sunrise and sits in a quiet place in the woods waiting for another creature to come along. In the meantime, he observes the world around him--a place that still belongs to the wild, and yet includes him. When he is ready to leave, he goes off to work just like anybody else.

BACK TO NATURE Antoine Scholer is respectful of the animals he hunts

Gift Vouchers/ Certificates available for your Gift-giving Event Corporate Wellness Massages & Reflexology Personalized spa services at your specified location +352 621 647 637 www.spaanywhere.lu hello@spaanywhere.lu

43_PUB_BUSINESS 43_PUB_BUSINESSINITATIVE_LCTO.indd INITATIVE_LCTO.indd 43 43

43_PUB_BUSINESS INITATIVE_LCTO.indd 43

05/11/13 05/11/13 17:22 17:22

UPFRONT

LIFESTYLE

s g n i n e p o w e N

n h the opening of a fashio s take centre stage, wit business , while Michèle ale fem al uri ne pre tre En r by women new to the showroom and a wine ba empire. ure nit Rob expands her fur ST. NICK’S SIDEKICKS

GRAND DUCHY FILES

DISCERNING TASTE A charming space in Art Rooms, Cascais-Copenhagen is named after the hometowns of Filipa Felner and Katrine Olsen. It features children’s clothes by Wheat and unique fashion pieces for discerning women by the likes of Vintage Bazaar as well as toiletries. Where: 48 ave. de la Liberté, Luxembourg-Gare Info: Facebook

THIRST FOR WINE Tanja de Jager, best known for presenting TV cooking shows, has opened a new wine bar in town. Dipso (from the Greek for thirst) is also labelled “the wine republic” and features a personally selected list of Luxembourg and international wines. Where: 4 rue de la Loge, Luxembourg-Centre Info: dipso.lu

STRIPES ARE STARS French fashion brand Little Marcel has opened a Luxembourg store. It features clothes for children and adults as well as household linens. Its distinctive, but by no means solitary, motif is colourful stripes on a black background. Where: 23 rue Beaumont, Luxembourg-Centre Info: littlemarcelstore.com

LIGHT ONLINE Designer furniture store CarréRouge has launched a new online light shop. The site allows visitors to order products from prestigious brands such as Dark, Flos, Ingo Maurer, Moooi and Slamp and receive reductions or free delivery. Where: 119 rue de Hollerich, Luxembourg-Hollerich Info: carrerouge.lu

December 2014

very culture has its bogeymen, the mythical creatures used to scare children into behaving as society expects. In Luxembourg the personification of this is Housécker. According to legend, this wicked sidekick of St. Nicholas visits beatings upon those kids who have been naughty rather than nice, or he leaves a broom made of sticks dipped in vinegar with which parents can meet out physical punishment. Housécker is a deliciously Luxembourgish name, its emphasis on the harsher second syllable instantly conjuring up images of something unpleasant and leaving kids of a certain age in tears at the very threat of his visitation, never mind the site of the hirsute blacked up raggedy man. Legend has it that the name derives from the town of Housen (Hosingen), a rebel stronghold during the Peasant’s War (the Klëppelkrich in Luxemburgish) of 1798--that popular yet ultimately futile uprising against the French occupation of the Lowlands which started in Luxembourg. The dark figure, always represented by a blacked up face, long-haired wig and a scraggly black beard, has its much more benign equivalent elsewhere in northern Europe, most notably in the Netherlands and Flanders where he is known as Zwarte Piet (black Peter) and in parts of France as Père Fouettard. In Germany he is known as Knecht Ruprecht, the male name was often used as a reference to the Devil and the “knecht” indicates his role as a servant. The producers of the German version of The Simpsons even decided to name Bart’s dog Knecht Ruprecht-presumably to mirror his boy owner’s mischievous character--rather than the original and rather more affectionate English Santa’s Little Helper. Sadly the Luxembourg version of The Simpsons eschews any reference to Housécker and goes down an even more literal route, calling the dog Dem Kleeschen säi Mupp (Santa’s dog).

Little Marcel: Olivier Minaire > Cascais-Copenhagen: Benjamin Champenois > Dipso: Jenny Fischbach

Perfect weekenadl singles for inter nation

to do and ways cy free? There’s plenty mber. fan d an e os tlo foo , ed Nove Unattach ring the last weekend of to meet new people du

FRIDAY 28.11 – 7 P.M.

GET YOUR RIFF ON… …at the annual festival hosted by the association that promotes cultural diversity. Riff hosts regular mixer events, but this concert is a highlight with four artists from different countries playing everything from tango and gypsy to reggae and punk. Where: Exit07, rue de l’Aciérie, Luxembourg-Hollerich Info: riff.lu

Lorena Pozuelo: Sven Becker > Finline Interior Design > Maggy Nagel: Olivier Minaire > Konrad Comedy: Jessica Theis > Exit07: Mike Zenari > Philharmonie: Wade Zimmermann > Bazaar: Steve Eastwood

Diary

SEX AND THE CITY CONCORDE Reader Lorena Pozuelo won Delano’s Bram styling event contest. The prize was a makeover from Hollywood experts to look like her favourite star, Sarah Jessica Parker, for a runway show at the fashion outlet in the City Concorde shopping centre. Where: Bram, Bertrange Info: bram.lu

RYAN’S NEW STORE Luxembourg-based former Delano cover star Denise Ryan of Fineline Interior Design has completed a flagship store for The Organic Supermarket in Dublin, The new outlet, in Rathgar, carefully reproduces the style and ambience of the original store in Blackrock. Where: Rathgar, Dublin Info: finelineinteriors.com

EUROVISION NO GO Speculative reporting from the Eurovision Gala event at the end of October suggested that culture minister Maggy Nagel had agreed that Luxembourg should re-enter the Eurovision Song Contest. But the minister has since denied she gave any such affirmation. Info: galanight.net

COMIC TURNS Konrad Comedy Club is hosting its second Rotten Apples Comedy Challenge on 26 November. Wannabe Eddie Izzards or Sarah Millicans can register to perform a five-minute routine. The audience will vote on the best acts, with the winner receiving a top prize. Where: Konrad Café & Bar, Luxembourg-Centre Info: comedy.lu

SATURDAY 29.11 – 3-6:15 P.M.

TAKE IN LIGHT ART … …if you managed to hook up with someone at the Riff festival, take them on a first date to the free Rainy Days Music & Light Art show at the Philharmonie-unique and beautifully impressive light installations accompany a varied programme of music. Where: Philharmonie, place de l’Europe, Luxembourg-Kirchberg Info: rainydays.lu/2014

SUNDAY 30.11 – FROM 11 A.M.

VISIT THE BAZAAR… …to cheer yourself up on a cold and wet November Sunday. The bazaar is a chance to meet friends, pick up gifts, take in a bargain culinary world tour and down a succession of drinks from Irish whisky to sake via Belgian beers and French wine. Where: LuxExpo, Luxembourg-Kirchberg Info: bazar-international.lu

December 2014

LIFESTYLE

SNAPSHOTS

Text by JAMES WALKER

Photography by STEVE EASTWOOD

British scouts tur n 40

MORE HIGHLIGHTS: DELANO.LU/ TELSTAR40TH

enerations of current and former scouts arrived en masse at the official residence of UK ambassador Alice Walpole to celebrate Telstar International Scout Group’s 40th anniversary here in Luxembourg. “Scouting is a great activity in a world where young people don’t have an opportunity to get out as much,” she said. Group head Rani Roloff said it manages to “get the best out of two scouting cultures,” being affiliated with FNEL (the National Scouting Federation of Luxembourg) and the British Scout Association. Chris Garratt, who was the group’s chief from 2003 until last summer, told Delano during the reception that he has been involved in scouting since the age of nine and “once you’re in, you’re hooked, it’s for life.” During the event six scouts were awarded their “Expedition Belt”, which demonstrates selfsufficiency, for successfully organising their own 10 day expedition to the Czech Republic. Peter Dawes, an official from the international organisation, said that “seeing the next generation come through is something that is very rewarding.” Telstar leaders said it welcomes anyone interested in joining the scouts, having fun outdoors and being part of their community.

FINDING THE WAY A. Ian McCabe and Neil Skinner B. Telstar Explorers with celebratory cake C. Telstar Luxembourg head Rani Rolloff and British ambassador Alice Walpole D. Carrie Milne and Chris Garratt E. Chris Chapman and Rachel, Daisy and Martin Hollywood F. Beverley Atkinson and Elisa Labiano G. Maria Walligora, Helene Meadows and Eva Kolovratnikova H. Newly minted Expedition Belt holders with Telstar area commissioner Peter Dawes

December 2014

Christmas subscription «Émotion»

27.03.2015 Pierre Cao Carmina Burana

25.01.2015 Jan Lisiecki (photo: Mathias Bothor, Deutsche Grammophon)

(photo: Sébastien Boulard)

05.06.2015 Matthias Goerne OPL / Emmanuel Krivine

13.04.2015 Iván Fischer Royal Concertgebouw Orchestra

(photo: Marco Borggreve)

Subscription 4 concerts: 99 / 157 / 199 € (< 27: 66 / 105 / 141 €) (+352) 26 32 26 32 www.philharmonie.lu Partenaire officiel: In case of no-show, tickets cannot be refunded or exchanged.

Partenaire automobile exclusif:

LIFESTYLE

GETTING INVOLVED

Text by JAMES WALKER

Photography by SVEN BECKER

Bazaar books

stand, Catherine Allen ernational Bazaar bookall tastes at this annual tradition . Int the of s ad -he co e Th ve a tex t for lliott, are bound to ha cause. and Gisèle E od go a for d rea Here’s how you can

ith more than ten decades of experience between them, the two co-heads of this year’s International Bazaar book stand know more about the printed word than just about anyone around Luxembourg. And that is good news for both readers and the charities being supported by the annual event, which has become a holiday season highlight in the international community. The International Bazaar is a multinational gathering of some 60 stands, run entirely by volunteers. Most represent their home country or region--from Argentina and Japan to Scandinavia and Venezuela--selling traditional food, drink and crafts, with all the proceeds going to charity. Last year more than 30,000 visitors--including Grand Duchess Maria Teresa--attended and bazaar volunteers raised €570,000 for 97 worthy causes in all the countries represented, such as the Fondation L’Hymne aux Enfants, which helps children with cleft palates in Burkina Faso. Catherine Allen and Gisèle Elliott have been running the book stand together for the past 12 years and have seen the expo’s growth first hand. Indeed their own stand has gone from four measly tables when they first started to over 20 this year. With a choice of more than 20,000 volumes, ranging from recent epics to 18th century classics, they aim to have a tome for everyone young or old, experienced collector or novice, reading enthusiast or aspiring bookworm.

Both Catherine and Gisèle grew up in Canada and have always had an extraordinary fervour for books, “to the detriment of everything else,” says Catherine. She was so enthused by reading at a young age that she was occasionally banned from reading by her parents and was even banned from her local library. Gisèle started working in her high school library at age 15 and Catherine participated in her first book sale when she was 13. Both remain passionate about reading and the bazaar, which sometimes puts them in a bind. Catherine quite literally brings her work home, for example. In the run up to the bazaar her house is a chaotic cornucopia of knowledge, with books filling every free space from the living room to the staircases. With 40-50 volunteers participating, one would think that the two Canadians would have no real problem preparing. However this is very much an “aging team” explains Catherine, who previously injured her back whilst moving a box of books, requiring several operations. So the group is in dire need of some younger, fitter volunteers to do some of the literal and figurative heavy lifting. Catherine and Gisèle are hoping for another successful bazaar this November, with Catherine stating that “we have wonderful books at incredible prices… at a price you can’t beat.” As well as the fact that all of the proceeds of the stand are going towards the numerous charities selected by the bazaar organisers,

SUPPORT THE BAZAAR: BAZARINTERNATIONAL.LU

they like to think that the distribution of knowledge and understanding to the buyers of books at the bazaar is equally as rewarding and charitable. Gisèle says that “not only are people doing a wonderful thing for other people but they are getting something for themselves.” The 54th Bazaar International de Luxembourg will be held 29-30 November at LuxExpo in Kirchberg. To donate or volunteer for the book stand, contact the co-heads at ceallen1@gmail.com or gisele.elliott@gmail.com

Community noteboo RHYTHM & CAROLS

CENTENARY BALL LUXEMBOURG RED CROSS Red is the new black at its 100th anniversary gala 29 November at the Banque de Luxembourg in Howald. Info: facebook.com/balducentenaire December 2014

LIONS CLUB LUXEMBOURG-AMITIÉ Organised with Amcham, this annual family friendly concert--of Christmas music performed by Conservatoire de Luxembourg percussion students-is a holiday season favourite. Held 7 December at 4 p.m. Followed by an evening cocktail. Proceeds go to SOS Kannerduerf. Info: lions.lu

SWEET SAMPLES

SPIRIT SIGHTINGS

BEE TOGETHER Bee Day was a chance to learn about biodiversity, Luxembourg produced honey and the capital’s own bee hives. Info: delano.lu/news/together-bees

BRITISH LADIES CLUB Strange appearances were reported in Bambesch Park… at least by the kids at the “Horrible Halloween Party”. Info: delano.lu/news/getting-spirit

Bee Day: Bee Together Halloween: Miriam Scargall/British Ladies Club Red Cross: Blitz

Bridging the gap... in Luxembourg City! CACTUS MARCHÉ:

Cactus Marché

- 4 Fresh Markets in your city-center neighbourhood

Limpertsberg

- Open 7 days a week - At your disposal for your next brunch-, picnic- or dinner-party No time for grocery-shopping? We are the only supermarket chain offering home-delivery service.

ade m e m Ho

Fresh

Cactus Marché

Merl

7/7

Cactus Marché

Gare

home @ s u cact

Cactus Marché

Bonnevoie

LIFESTYLE

PIERRE ROSSY AT SCHROEDER JOAILLIERS

December 2014

JEWELLERY

Text by WENDY WINN

Photography by GAﾃ記 LESURE

Good things come in small packages from fine bijoux ty: you’ll find every thingit’s still a little rie va of l ful x bo ery ell t eryday flair. Bu Luxembourg’s a jew much bigger ns to fun jewellery for ev for life’s biggest occasio talented jewellers are working in a cit y not so ny ma surprising that so than a ring box.

ne of the best known jewellers here is the Maison Schroeder, founded in 1877. It’s our equivalent of the Big Apple’s Tiffany’s. Owner Pierre Rossy (who inherited the business from his mother) has just returned from presenting a collection in Tokyo--one of the pearls on their string of exotic hubs where Schroeder is now sold. But what to wear with that long gold necklace, with tendrils of delicate diamonds and ruby petals? A smile and a yacht. You might have seen some of their pieces in Gala magazine or on RTL if you keep up with the royals. “We are honoured that the Grand Ducal family has always chosen us as furnisher of the court,” Rossy says. That’s a jewel in anyone’s crown. Another diamond in Luxembourg’s tiara is the Bijouterie Goedert, making jewels since 2002. Goedert too is very popular with Luxembourgers, which says a lot in a city where reputations can be made or broken as easily as a gold chain. Theirs is solid, like a diamond in a good setting, and they know all about durable settings--they create personalised wedding and engagement rings, and can repair your grandfather’s Rolex too. Drop in for free estimates and lots of ideas. The Maison de Créations Fabienne Belnou is another gem--she’s been creating today’s treasures and tomorrow’s heirlooms since 1993. While all of the jewellers work with clients on custom creations, you don’t even have to meet Alexandre Rosenberg to start working with him. You can do it online, selecting from styles, metals and gems. Unlike most sites, you’ll be able to see cost as well as the carat. With a few clicks you can create a sapphire ring, for example, without worrying that an assistant is sizing you up as you size your ring. With so much talent around, it’s not easy to earn the title of “best jeweller in Luxembourg”, but that’s what the Chambre des Métiers named Patrice Parisotto when she had just finished her master’s.

Ettelbruck-born, she studied goldsmithing and watchmaking and worked in Germany, Spain and the US--and lived for six years in New York City. She’s back home now, but no matter where she is, what she works with is always the same--the very best. “I wanted to work with my hands,” says Parisotto, and her creations often grace those of others--“I do many wedding rings and transform old pieces. Wedding rings have to feel good and wear well, because they are meant to be worn for a lifetime.” Not all of her pieces accompany their wearers through thick and thin, but all of them are to treasure always. Stine Bülow is another local goldsmith who participated, as did Parisotto, in the recent Lët’z Go Local market. She always welcomes visitors, and they crowded her stand at the CarréRotondes, charmed by her sense of playfulness and unswerving commitment to quality. Bülow will have to print more business cards--hers disappeared! Still, even though no one says that zirconium is a girl’s best friend, there’s a lot to be said for casual jewellery. You can’t eat lobster every day you know--sometimes you want a pizza. Beads in Lux is a happy compromise between fine and costume jewellery--made from genuine semi-precious materials, it looks great but is affordable. And we can’t talk about beads without mentioning the Atelier Verraille. Michèle Ludovicy-Hansel gives the Venetians a run for their money with her artisanal glass beads, and she works with the same soft glass as they do, from Murano or from Lauscha in Germany. Each glass bead is a work of art--a bracelet or necklace is more like an art collection, made up of unique pieces. Also rare is the chance to create your own jewellery, like at the workshop on art clay she will hold in January. The course isn’t cheap, but neither is the jewellery you will leave with!

LOCAL CREATIONS SCHROEDER JOAILLIERS Where: 27-29 Grand-Rue, Luxembourg-Centre

Info: schroederjoailliers.lu BIJOUTERIE GOEDERT Where: 1 Grand-Rue, Luxembourg-Centre

Info: bijou.lu

FABIENNE BELNOU Where: 26 rue Philippe II, Luxembourg-Centre

Info: fabiennebelnou.com ALEXANDRE ROSENBERG Where: 4 avenue de la Gare, Luxembourg-Gare

Info: alexandrerosenberg.com PATRICE PARISOTTO Where: By appointment

Info: patriceparisotto.com STINE BÜLOW Where: 21 avenue de la Liberté, Luxembourg-Gare

Info: stinebulow.com

BEADS IN LUX Where: By appointment

Info: beadsinlux.com

ATELIER VERRAILLE Where: 26 rue Rénert, Sanem

Info: verraille.lu

December 2014

LIFESTYLE

QUICK GUIDE

Text by WENDY CASEY

Winter wardrobe wayhay! door. Time to injec t to the cellar and lock theh rich, weighty fabrics, ns tto co er mm su h nis Ba uninspired wardrobes wit some drama into tired, lours and opulent tex tures . co fabulously dramatic

WHAT INSPIRED ME As an image and fashion consultant, I can truthfully say that I have the best job in the world. There’s nothing more rewarding than a surprise email from a client saying that their personal shopping trip is their favourite memory of the entire year and that it has changed their life. My work is incredibly diverse, from colour and style consultations to writing detailed, hour-by-hour “outfit programmes” for clients embarking on two-week business trips. I began studying image and fashion following a meeting in town with a friend. She needed my help in choosing an outfit for her husband’s office Christmas party and she received such a flurry of compliments that immediately afterwards she said, “you should do it for a living!” Info: imageandfashion.com

December 2014

CHIFFON SKIRTS Chiffon is always incredibly glamorous--it must be the reveal of skin. But consider pleated, chiffon maxi skirts with thigh high slits worn over tonal shorts and you’ll agree this is an attentiongrabbing look. Add a velvet halter neck and grab your fitted biker jacket. Knockout!

PRINTS We’re really spoilt for choice this season--60s inspired psychedelic swirls and zig zags, lumberjack checks and tartans (great worn with dark denim), fairy tale imagery and even giant Star Wars characters emblazoned across Rodarte evening dresses. May the force be with you!

SHAWLS Burberry Prorsum inspired us all with stunning XL shawls draped over one shoulder--a simple technique that men and women alike can copycat. Choose heavier wools in contrasting tones to drape over outdoor coats and jackets while ladies can opt for long, floaty chiffon scarves over figurehugging dresses.

SLEEVELESS JACKETS They may lose points for practicality but sleeveless jackets make up for it in the style stakes. Worn knee-length or to the hip, they are surprisingly versatile in wool, leather and brocade over jumpers, shirts or bare arms. Add a fur collar or a touch of leather detailing to make it your own.

WIDE-LEGGED TROUSERS Reminiscent of Katherine Hepburn’s 1950s signature style, these widelegged, long, tailored trousers are a far cry from skinny jeans. Wear with a soft, loose cashmere sweater or a baggy boyfriend jumper, and pile your hair up on top of your head. Surprisingly feminine.

JOGGING BOTTOMS There seems to be a lot more focus on comfort this season--but jogging bottoms? These are worn ultra-long and slim (never baggy), in soft-knit, luxury fabrics and in delicate neutral tones--lots of greys and taupes. Top with a silk tunic and a neat bomber jacket, slip on some edgy ankle boots and you’re ready to go.

COLOURS Think serene, autumnal forests and you’ve nailed this colour palette. Rich burgundy, golden cognac and citrine, and intensely dark, chocolate brown. Uninspired? Then try petrol blue, contrasting black and white--or soft baby pinks and mauves worn with delicate creams and powdery greys. Yum!

WRAP-OVER SKIRTS Here’s a 70s trend that’s making a big splash. It’s also easy to wear whatever your age and rather elegant. Choose an asymmetric wrap design that ends below the knee in a soft wool/ cashmere blend. Go for a bold, autumnal hue and add edge with a kneehigh boot.

CULOTTES Is it a skirt? Is it a trouser? No, they’re culottes-a “split skirt” which is another throw back from the 70s. They are great worn mid-calf or just above the ankle with fitted tops. Alternatively, layer a cropped boyfriend jumper over a longer length chiffon shirt with a buttoned up Peter Pan collar-and wear with cream culottes.

LA BELLE ETOILE The shopping centre boasts 32 clothing stores catering to every age, size, budget and style--from high street favourites such as Zara and Esprit to more classic and unique shops like Look and Casting. Where: Route d’Arlon, Bertrange Info: belle-etoile.lu

CITY CONCORDE Home to 100 shops, the centre is known for its 11,000 square metre “clothing superstore” BRAM, which offers a wide range of international brands including Hugo Boss, Tommy Hilfiger and MaxMara, for men women and children. Where: Route de Longwy, Bertrange Info: concorde.lu

THE CAPITAL’S PEDESTRIAN AREAS From Hermes (photo), Chanel, and Dolce & Gabbana (I love gazing into their windows) to Massimo Dutti, Caroline Biss and Gerard Darel, the variety is outstanding. I simply could not leave this off my list. Where: Luxembourg City-Centre Info: goodidea.lu

Wendy Casey: Steve Eastwood Burgundy: Dolce & Gabbana Shawl: Burberry Prorsum Sleeveless jacket: Lanvin Wide-legged trousers: Isabel Marant Culottes: Alexander Wang Belle Etoile : City Concorde: Benjamin Champenois Hermes: Olivier Minaire (archives)

Stephan Gehmacher photographié à la Philarmonie par Julien Becker.

Stephan Gehmacher lit Delano depuis 2011. Merci

Maison Moderne célèbre 20 ans d’édition indépendante et 200.000 lecteurs. Découvrez 20 ans d’archives sur www.maisonmoderne.lu/20

LIFESTYLE

INTERVIEW

Text by DUNCAN ROBERTS

Photography by GAËL LESURE

g n i t c e fl e R the times

mbourg after recently moved to Luxe n of works er tch Fle K JB er int pa new solo exhibitio British photorealist . He is now launching a seven years in Australiawe look at images . that challenge the way

eturning to the northern hemisphere with his Australian girlfriend in search of “the European lifestyle”, British artist JBK Fletcher has found a new home in Luxembourg. “We’re in the heart of Europe, you get the opportunity to see all these places you hear about, Brussels, Amsterdam... There’s so much art and culture, I wanted to immerse myself,” he explains. Now ensconced in the 1535°C creative space in Differdange (see page 34) Fletcher acknowledges that being in Europe has changed the way he approaches his work, though not the root or foundation of its themes. Trouble is, he can’t quite pinpoint exactly what the influence is. “It’s hard to know if I had stayed in Australia whether I would be making this specific work--probably not.” His current work is for a solo exhibition titled Digital Photography. It features three series of photorealistic paintings. The first is of clouds based on photos taken by Fletcher or commissioned from other photographers specifically for the exhibition. Another is of “pixel” paintings that look abstract but are taken from actual digital photographs. The third series is based on Instagram photos. “The whole obsession we have for images fascinates me. The juxtaposition between painting and the way we look at images today--between flicking through Instagram in four seconds and the hundreds of hours spent creating an oil painting using traditional techniques.” But as an artist he also has a unique way of looking at images. He cites the famous Da Vinci quote about no painting ever being finished, just abandoned. “As an artist you are always trying to make work that expresses the time in which you live--a direct reflection of today. And then you have the dissatisfaction of seeing your mistakes, your own preconceived ideas staring back at you. That gives you the urge JBK FLETCHER: IMMERSED IN EUROPE to move on to the next thing.” When and where: 21 November to 4 January, H2O, rue Rattem, Oberkorn Info: jkbfletcher.com

December 2014

20 years of wishing you â&#x20AC;&#x153; bon appetit â&#x20AC;?. So why not wish us happy birthday.

Available in kiosque 20th edition 250 restaurants 10 euros

Available on explorator.lu and maisonmoderne.lu

LIFESTYLE

KIDS

Text by WENDY WINN

In the markemt agic? for holiday C

December 2014

KLEES’CHEN AT THE BAZAAR During the International Bazaar (see page 52) older kids can be given free roam (and cash), while little ones will want to tell the man in red all their secret wishes. There’s a super vised crèche at LuxExpo where they can play while you head off to South Africa or Japan. When: 29 & 30 November Info: bazar-international.lu

square they rim, make a romantic setting for a market where you can find ceramics and hand-blown glass as well as food and drink. The Saarland’s largest shopping street, Bahnhofstraße in Saarbrücken, and the historic St. Johanner Markt, too are decked out in gay apparel. Go through the Europa Galerie and admire the combo of old and new architecture, plus get a holiday latte at one of the two Starbucks here--could we pretty please have one here too? We’ve been good! Diminutive in comparison, Saarburg’s market is huge on charm. The flowerboxes and the ice cream cones of summer give way to holiday lights and mulled wine, but the stunning waterfall view is evergreen. While Germany deserves the credit for coming up with most of the things--except the Christ child--that we associate with Christmas (even Boney M.), the title of “Christmas capital” actually goes to a city in France. Well, it’s in France now. The Alsatian city of Strasbourg held the first Christkindelsmärik in 1570,

and that’s what got it all started. It’s no day trip there and back, but Metz and Nancy are, and worth the outing. Metz is a great for kids--with an ice skating rink, Ferris wheel and Le Monde Merveilleux for ages 0 to 12, with bouncy castles and ball pits. You can also mull-wine through the markets in Belgium, at huge events like in Brussels--with nightly light shows on the Grand Place and 240 chalets on place Sainte-Catherine--and in Liège, Belgium’s oldest event that’s so big it’s called a “village”, not a market. Smaller and closer is Namur, where you’ll find 100 chalets at three city sites. And while you’re making up merry plans, google “Durbuy Belgium Christmas lights”. If seeing this tiny town all aglow doesn’t light up your Christmas tree, you better book some visits from the ghosts of Christmas past, present and future to scare the ba-humbugs out of you! Links to all these places can be found at: delano.lu/ChristmasMarkets2014

HERE WE COME A CAROLING! Kids are naturally upbeat, so why not add some high notes to the holidays and treat them to traditional and new favorites in song? Voices International puts on Christmas concerts that are lively and varied (and there are free concerts galore at several Christmas markets). When: 6, 7, 13 & 14 December Info: voicesinternational.lu A MODEL DAY OUT With the walls of the Clervaux castle, see lots of scale models of Luxembourg castles in the precise scale of 1:100, which tell fascinating tales of medieval times. There’s audio visuals too, plus the castle itself! When: weekends through April; plus every day 26-31 December Info: clervauxcastle.lu

David Laurent (archives)

hristmas comes but once a year, but when it comes to Luxembourg, it packs as big a bag as Santa carries and stays for over a month. Here, children set out their shoes for Klees’chen in late November and that’s when the region’s Christmas markets start heating up the Glühwein and opening their stalls. You couldn’t be better placed to enjoy them all, from Luxembourg’s relatively new market to the oldest one in Europe. If time and money are short, you can just treat the children to markets here at home--the one on the place d’Armes opens on 23 November and doesn’t pack up until reindeers are overhead on Christmas Eve. Newcomers might think it’s as historic as the square, but it’s younger than MTV. A big highlight this year will be the ice skating rink next door on the Knuedler. The big Ferris wheel by the Gëlle Fra is a welcome addition and delights kids as much as the Glühwein delights their parents. Both will put a twinkle in your eye and the view is the stuff of sugar plum dreams. There are concerts, rides for tots, and a nativity scene with descendants of that flock the shepherds watched by night. There’s also the place de Paris in town, and throughout the country, towns big and small from Esch to Sandweiler set up stalls and serve up cheer, for a month or for a weekend. Each has its own take on it--Dudelange, for example, goes medieval. Although there’s no place like home for the holidays, you might get a lump of coal or the switch if you don’t head over the border to the market mecca, the land that gave us the Christmas tree, gingerbread men and Silent Night. Trier’s cookie-jar houses, full of window panes and wooden beams, and the main street and

M UD AM L UX EMB OU RG 08. 11. 2014 – 25.0 5 . 2 0 1 5

SYLVIE BLOCHER S’INVENTER AUTREMENT

Sylvie Blocher, Change the Scenario (Conversation with Bruce Nauman), 2013. With Shaun Ross (video still, Detail). © Sylvie Blocher The exhibition Sylvie Blocher . S’inventer autrement is organised in collaboration with the Centre Régional d’Art Contemporain Languedoc-Roussillon in Sète and realised with the support of the Institut français du Luxembourg. The project Dreams Have a Language, presented in the exhibition, is organised in collaboration with Tarantula Luxembourg and realised with the support of Film Fund Luxembourg.

Partner of the exhibition:

Mudam Luxembourg Musée d’Art Moderne Grand-Duc Jean

3, Park Dräi Eechelen L-1499 Luxembourg

info@mudam.lu www.mudam.lu

2014_10_Sylvie_Blocher_Delano.indd 1

10/30/14 3:00 PM

Holiday events at Ciné Utopia, Utopolis Belval & Kirchberg

Christmas events for kids

27.11

3.12

10.12

Saint Nicholas

December 6th & 7 th Each child (with a valid admission ticket) will receive a surprise gift.

10.12

24.12

17.12

Subject to change

Balloons for kids

www.utopolis.lu

141112_Delano_Kifika_Noel.indd 1

11/3/14 3:24 PM

LIFESTYLE

IN THE SPOTLIGHT

Text by DUNCAN ROBERTS

Photography by LESLIE KIRCHHOFF

All grown up and on the map that truly s come of age. A festival d a chance ha s ion Vis nic So ar, ye types a voice an Now in its seventh also gives local industry celebrates new music , ited pros. to learn from experienc

TICKETS & INFO: SONICVISIONS.LU

What the critics say…

NICK MULVEY “Although the beautifully pensive songs are steeped in the likes of Nick Drake, Paul Simon and John Martyn, they’re informed by the 28-year-old Mulvey’s studies in ethnomusicology (African and oriental sounds) and Cuban music.” Dave Simpson, The Guardian SINKANE “His latest, Mean Love, is his most direct and concise collection of songs yet, distilling his compositional talents and reining in any attendant looseness.” Larry Fitzmaurice, Pitchfork

t is not every day that a Luxembourg venue lands two Mercury Prize nominees on the same bill. But the Rockhal has done just that in the shape of singer-songwriter Nick Mulvey and rap-poet Kate Tempest, who perform on the Friday and Saturday of the Sonic Visions festival respectively. Throw in artists like US new soul sensation Sinkane, Cleveland punk upstarts Cloud Nothings, Icelandic folk electronica pin-up Ásgeir and Australian DIY slacker heroine Courtney Barnett (photo), and it is clear that Sonic Visions is living up to its reputation as a showcase for emerging artists on the verge of a breakthrough. The festival also December 2014

allows local artists and acts from neighbouring countries to play to a wider audience. More established artists, such as Australian brother and sister act Angus and Julia Stone, music critics’ flavour of the year St. Vincent, and Berlin-based DJ Fritz Kalkbrenner are also on the bill, giving the festival the sort of appeal it rarely enjoyed in its formative years. Back in 2008 Sonic Vision was a much more local affair, but the organisers always had ambitions to create a truly international festival and conference that would put Luxembourg on the map. They achieved this by not only attracting top artists--latter day headliners,

thanks to a collaboration with den Atelier, have included the xx and Sigur Ros--but also music industry experts who could provide what business people might call “added value” to the event. This year’s keynote speaker is erstwhile Pink Floyd manager Peter Jenner--who has also looked after the likes of Marc Bolan and The Clash--who has been at the forefront of the debate surrounding digital use of music and artist remuneration. Panel discussions and workshops on playing gigs in Luxembourg and its neighbouring countries or effective strategies on using YouTube will also pique the interest of musicians and industry players.

COURTNEY BARNETT “Courtney Barnett makes jangly, rumpled indie-rock in the vein of Pavement or early Dylan: Wordy, wry, and anchored by the kind of poetic clarity you can only get from looking at the world askew.” Mike Powell, Rolling Stone CLOUD NOTHINGS “Cloud Nothings, with teeth clenched tight and feedback flowing aplenty, rock a blue streak without letting a single moment go by hook-free.” Kurt Orzeck, Exclaim KATE TEMPEST “Tempest writes complex and believable characters, each one carrying their problems like a lead weight hung inside their heart. She has a skill for spinning perspectives.” Louis Patterson, NME

LIFESTYLE

ON STAGE

Text by DUNCAN ROBERTS

14 shows you must see

MORE EVENTS: DELANO.LU

December 2014

LITTLE WOMEN Girl power Berliner Grundtheatre’s latest production is an adaptation for the stage by June Lowry of Louisa M. Alcott’s classic novel. Directed by Tony Kingston, the play features an ensemble cast of local actresses as the March sisters in 19th century America. As usual, BGT performed a run in Mersch before coming to Neimënster. Where: Neimënster, Luxembourg-Grund When: 25-29 November Tickets: neimenster.lu

RAINY DAYS The light programme The annual festival of contemporary music celebrates its 15th anniversary and tenth year in the Philharmonie. The 2014 programme is titled Switch The Light On, and includes concerts, a film screening at the Cinémathèque and a percussion performance at the Théâtre National de Luxembourg, all linked with light shows. Where: Philharmonie, Cinémathèque, Théâtre National, Grand Théâtre, Mudam When: 26-30 November Tickets: rainydays.lu

THE VALLEY OF ASTONISHMENT Brain wonders Inspired by great Persian poem by Farid Al-Din Attar, Conference of the Birds, The Valley of Astonishment is the latest work by the great Peter Brook and Marie-Hélène Estienne. Described as “a kaleidoscopic journey into the mysteries and wonders of the human brain”, the piece follows three characters with incredible sensory abilities. Where: Grand Théâtre, Luxembourg-Limpertsberg When: 25 & 26 November Tickets: theatres.lu

CHAMBER CHOIR Songs of devotion The newly formed Chœur de Chambre de Luxembourg performs its inaugural concert conducted by musical director Antonio Grosu. On the programme is Mozart’s Mass in C Major (in honour of the most holy trinity) as well as Mendelssohn’s Wie der Hirsch schreit (psalm 42) and Hör mein Bitten (based on psalm 55). Where: Conservatoire, Luxembourg-Merl When: 15 November Tickets: ccl.lu

J. MASCIS Lovely listen J. Mascis has one of the most distinctive slacker voice and guitar styles in rock. But his solo work sees the legendary Dinosaur Jr. frontman swap his electric power plays for more delicate folk songs. Latest album Tied To A Star received favourable notices from the likes of Q and The Line Of Best Fit, which called it “a lovely listen”. Where: Rockhal, Esch-Belval When: 3 December Tickets: rockhal.lu

Simon Annand

OH, WHAT A LOVELY WAR! Satire songs Julie Fraser directs this ambitious epic “music hall” play for the New World Theatre Club to mark the centenary of the start of WWI. Originally staged some 50 years ago, the satire includes songs from the period of the Great War and was conceived to leave the audience laughing at the “vulgarity of war”, while also honouring the sacrifice of its victims. Where: Mierscher Kulturhaus, Mersch When: 14-16, 19, 21 & 22 November Tickets: kulturhaus.lu

SONG OF THE SELKIE Story weaving UK storytelling laureate Katrice Horsley comes to Neimënster to deliver workshops, but also a public performance of her art. For the latter, she has chosen her masterpiece, Song of The Selkie, which weaves music, poetry and words into a breathtaking tale of love, betrayal, ghosts and a blind storyteller who uncovers a secret. Where: Neimënster, Luxembourg-Grund When: 21 November Tickets: neimenster.lu

Hugo Glendinning Angel Ceballos

er e is on the bill in Novemb English-language theatr al and international, with four shows, both loc ck legends and cool for lovers of drama . Ro strongly. new music also features

JUNGLE Languid Groove The third Mercury Prize nominated act to play in Luxembourg in the space of a few weeks, Jungle come to den Atelier still fresh with media hype and public adoration for their languid dancefloor grooves. The collective, which started as a duo, closed this year’s Rock-aField with a suitably intimate set. They promise to get the Atelier dancing in December. Where: den Atelier, Luxembourg-Gare When: 4 December Tickets: atelier.lu

THE PATTON CONCERTS Bulge tribute Helen Patton, granddaughter of General George S. Patton, hosts a show to mark the 70th anniversary of the Battle of the Bulge. Guitarist Thomas Blug and Dutch band leader Thijs van Lee are joined by local musicians including Ernie Hammes, Remo Cavallini, and Leana Sealy to perform rock classics in the spirit of liberation and reconciliation. Where: den Atelier, Luxembourg-Gare When: 15 December Tickets: atelier.lu

LITTLE DRAGON Dreamy shifters Veterans of the electro pop scene, the Gothenburg quartert is touring with acclaimed fourth album, Nabuma Rubberband. Formed way back in 1996, the group is fronted by the exotic Yukimi Nagano, whose voice lends what Kitty Empire calls “dreamy, shape-shifting, bespoke R&B pop” a sexual allure on tracks such as ‘Sunshine’ and ‘Pretty Girls’. Where: den Atelier, Luxembourg-Gare When: 6 December Tickets: atelier.lu

AKRAM KHAN Imagined chaos British choreographer Akram Khan’s iTMOi (In The Mind Of Igor) is loosely inspired by Stravinsky’s The Rite of Spring, though Khan insists his work contains but traces of the original, with occasional echoes in the music of composers Nitin Sawhney, Jocelyn Pook and Ben Frost, that delivers what The Guardian calls a “shockingly imagined chaos.” Where: Grand Théâtre, Luxembourg-Limpertsberg When: 28 & 29 November Tickets: theatres.lu

RUSSELL MALIPHANT Absorbingly beautiful Sadler’s Wells associate artist Russell Maliphant has stunned Luxembourg audiences before with works such as PUSH or The Rodin Project. With Still Current he delivers a series of short works for solo, duo or even trio, including the title piece and mesmerising solo piece Afterlight (Part One), which The Telegraph calls “constantly absorbing and beautiful.” Where: Grand Théâtre, Luxembourg-Limpertsberg When: 2 & 3 December Tickets: theatres.lu

KAORO ITO Adult games The Japanese choreographer returns to the Grand Théâtre with a new piece that explores the idea of fetishism, and of “asobi”-a word that seems to have many meanings but is a name given to mean “game” in an adult, sensual context. Ito takes what is a male domain and explores what would happen if they were led by women. Where: Grand Théâtre, Luxembourg-Limpertsberg When: 10 & 11 December Tickets: theatres.lu

WILDBIRD AND PEACEDRUMS Stripped bare Swedish husband and wife duo Mariam Wallentin and Andreas Werliin have just released their fourth album as Wildbird and Peacedrums. The acclaimed Rhythm is a collection of marvellous stripped back songs that feature little but the voice of Mariam and the percussion of Andreas--the result is an astonishingly tribal, captivating sound that immerses the listener in successive waves of rhythm and melody. Where: Exit07, Luxembourg-Hollerich When: 15 November Tickets: rotondes.lu December 2014

LIFESTYLE

Text by AARON GRUNWALD

Photography by MIKE ZENARI

Just the right note

MY FAVOURITES

iacchi, Chicago native Dino Div rg last ou mb xe Lu to d ve who mo Muzic November, is founder of ), com ro. est ma zic Maestro (mu e that makes which produces a devicto learn to play rs ne gin be it easier for and a mobile guitar using LED lights rt-up represents sta his nth app. This mo international the Grand Duchy at thein Copenhagen . p Cu ess sin Creative Bu three favourite But first Dino shares hisourg. mb xe Lu in music spots

CAFÉ DES ARTISTES Dino often takes out-of-towners to this “old time bar” to share “the unique environment”. What strikes him most is the diverse clientele: “people of all ages, of all cultures”, listening to “music from different generations” around the piano. One tune could be French and next Italian and “a good way to learn about cultures is through music.” What: live piano, mixed crowd Where: 22 montée du Grund, Luxembourg-Grund Info: +352 46 13 27 December 2014

DEN ATELIER The concert hall is “awesome” because “they have known bands and it’s a really small venue.” Small but comfortable: his first show there was Wilco and it “wasn’t like other places I’ve been in other cities where you’re crammed in and can’t move.” He even “met the band afterwards” just hanging out, “which really wouldn’t happen in other cities.” What: good acts, human scale Where: 54 rue de Hollerich, Luxembourg-Gare Info: atelier.lu

LIQUID BAR In contrast with a lot of bars in its bustling neighbourhood, Liquid “is more laid back,” Dino says. It’s a good spot to catch “a cool little jazz band,” for example. He suggests checking out the different rooms, each offering a slightly different “experience”. “It’s a good environment.” Dino likes to meet up with his friends there because it’s a great venue “to talk, to listen to music and have some beers.” In addition to draught options, they have a good selection of bottled brews, he adds. Like the other two locales on his list of favourites, Liquid has a “cosy atmosphere… with good music” and is a great place to dive into Luxembourg’s music scene. What: jazz, blues, DJ sets Where: 15-17 rue Munster, Luxembourg-Grund Info: liquid.lu

BRITISH PRIVATE EQUITY AWARDS

WINNER 2011•2012•2013

FUND ADMINISTRATOR OF THE YEAR

The Real Deal in Depositary Services At the Aztec Group we are delighted to have added another prestigious fund services award to our collection. We have been awarded ‘Fund Administrator of the Year’ at the 2014 Real Deals Private Equity Awards, which recognises the best of European private equity. A key entry criteria for this award was our ability to meet a client’s needs in Depositary Services aligned to the Alternative Investment Fund Managers Directive. With both tied and standalone service offerings tailored to each client, the Aztec Group is already working with a number of clients to ensure they meet their regulatory requirements.

The Bright Alternative aztecgroup.eu Aztec Group is authorised in the provision of services.

“Aztec’s exceptional retention rate and detailed understanding of the commercial and regulatory issues gave the firm the edge.” Real Deals Judging Panel Wondering what makes us the real deal in Depositary Services? Call Ganash Lokanathen on +352 24 616 019 for an informal conversation, or email him: ganash.lokanathen@aztecgroup.co.uk

FUND SERVICES CORPORATE & DOMICILIATION SERVICES DEPOSITARY SERVICES ADVANCED PORTFOLIO SERVICES