Delano November 2011 by Maison Moderne

November 2011 – Issue 07 – 4€ – www.delano.lu

5 453000 010015

UNDERSTANDING LUXEMBOURG: CURRENT AFFAIRS, BUSINESS, LIFESTYLE, CULTURE

RADAR LOVE: FRED BAUS AND THE AMBITIONS OF A NEW PRODUCTION COMPANY

LuxFibre Pack PRO The global telecom solution for professionals

Internet : unlimited, surf until 100 Mbit/s in downstream

Email : 3 myOffice Exchange accounts included

TĂŠlĂŠphonie : unlimited calls to landline and LUXGSM

Professionnal technical support : phone support 24/7

mobile phones as well as special rate for international

exclusively dedicated to professionals

Discover more advantages

at www.pt.lu/telecompro

LuxFibre Pack PRO Ultra high-speed Internet for professionals Te l e c o m m u n i c a t i o n s D e p a r t m e n t - L - 2 9 9 9 L u x e m b o u r g - F r e e h e l p l i n e : 8 0 0 2 4 0 0 0 w w w. p t . l u / t e l e c o m p r o

editorial

impressum

November - Issue 07

Editor in chief: Duncan Roberts (duncan.roberts@maisonmoderne.lu) Journalist: Aaron Grunwald (aaron.grunwald@maisonmoderne.lu) Photography: Charles Caratini, Luc Deflorenne, David Laurent/Wide, Olivier Minaire, Claude Piscitelli Proofreading: Cynthia Schreiber

publisher

Maison Moderne Publishing Phone: (+352) 29 66 18-1 Offices: 10 rue des Gaulois, Luxembourg-Bonnevoie Write to: PO Box 728, L-2017 Luxembourg E-mail: publishing@maisonmoderne.lu Web: www.maisonmoderne.lu

Design

Maison Moderne Design Phone: (+352) 27 62 12 62 E-mail: design@maisonmoderne.lu Web: www.maisonmoderne.lu Art direction: Guido Kröger Coordinator: Marie-France Lequeux Layout: Lucile Guarnaccia, Jan Hanrion, Marie-France Lequeux, Zoé Mondloch, Laurie Vaxelaire

meDia sales

Maison Moderne Media Sales Phone: (+352) 27 17 27 27 -1 E-mail: mediasales@maisonmoderne.lu Web: www.maisonmoderne.lu Delano account manager: Luciana Restivo (luciana.restivo@maisonmoderne.lu) Senior key acccount: Aurelio Angius (aurelio.angius@maisonmoderne.lu) Sales director: Francis Gasparotto (francis.gasparotto@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 Centrale Distribution by Valora Services Luxembourg ISSN 2220-5535

Please Recycle

Finished reading this publication? Archive it, pass it on or recycle it.

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)

A golden duck

Text: Duncan Roberts — Illustration: Quentin Vijoux

The latest advertising campaign by the ministry of tourism has attracted a host of negative comments. Most vociferous has been Jo Kox, director of the Casino contemporary art museum and head of the city’s d’stater muséeën group who wrote a damning “carte blanche” piece for RTL’s website and, in a subsequent interview with paperJam.lu, asked whether those responsible were “taking tourists to be imbeciles?” If the Golden Duck awards (the Luxembourg version of the Golden Raspberries, but for the advertising industry) still existed the ad would be a shoe in for a bucketful of prizes. It is not only poorly executed--a Photoshop montage that a 12-year old could have created-but also worryingly confusing and inadvertently negative in its visual message. For a start it features a slumbering mediaeval knight, which suggests nothing less than that Luxembourg is a sleepy country living in the past. Thrown into the mix, seemingly at random, is a graz-

ing cow (with a map of the Grand Duchy among its markings) and the Philharmonie, partially hidden by trees. The visual seems to fly in the face of everything last year’s Is It True What They Say About Luxembourg series of films was trying to do--namely to debunk the clichéd images of Luxembourg abroad. Nation branding is notoriously difficult. It requires consistency and the coherent identification of the brand itself by those trying to sell it. And, as expert Boz Temple-Morris keeps telling Luxembourgers who will listen, above all it requires audience involvement via a clear narrative with an authentic message. The new tourism ad fails spectacularly by trying to be all things to all people--Jo Kox thinks the ministry was scared of affronting any particular tourist sector by omitting them from the poster. But by doing so, as is always the case, it ends up satisfying nobody.

November 2011 - delano - 3

T H E A R T O F F

F1™ King Power Ceramic. Scratchproof black ceramic chronograph. Carbon fibre bezel with brake disc-style applied insert in ceramic. Rubber and Nomex® strap. 500-piece limited edition.

U S I O N

Il y a une vie après la mire.

Lancement le 15 novembre, 16 heures. Le Journal à 16 heures, du lundi au vendredi, live, en boucle et sur demande.

En HD sur Télé vun der Post Sur le web: www.paperjam.TV Sur iPad: paperjam.TV

contents

44 COVER STORY

FRED BAUS Radar lover The d:qliq co-founder said goodbye to the live concert venue last month. He and his partners talk exclusively with Delano about their newly founded music and ﬁlm production collective This Is Radar, the importance of ‘differentness’ and why experience is everything.

8 CURRENT AFFAIRS KNOCK-ON BENEFITS Logistics: just the latest buzzword?

26 BUSINESS

50 LIFESTYLE

START-UP CHALLENGE New support for growing ﬁrms

14 YOUNG GUNS

30 CLASS ACTION LAWSUITS

19 JUNCKER STUNNED

32 ALTERNATIVE FUNDS

20 SOUND PUBLIC FINANCES

36 COMPETING WITH GIANTS

NETWORKING Indian Business Chamber of Luxembourg

Are they coming to Europe?

52 GOING NATIVE

The next UCITS in the making?

54 NIGHTLIFE SCENE

Luc Frieden on the euro zone

Jeannot Krecké on the BRICs

62 OPERA COMIQUE

European Parliament’s eco-building

Exclusive: HSBC’s plans for Luxembourg

64 EPICUREANS/STYLE ICONS

New generation led local elections The PM reacts to Greek decision

24 GREEN IN KIRCHBERG

Three pre-winter traditions Luxembourg’s best bars

Tony Kingston is building a rep

39 NETWORK EFFECT

REGULARS

Design and dining tips

SNAPSHOTS

40 THINK LOCAL Eleonora Corsetti: the Brazilian image consultant explains how she survived her early years in the Grand Duchy, why she thinks Luxembourg is a gilded cage, what is lacking in the arts, and her biggest regret here.

12 FESTIVAL OF LIGHTS Two Indian groups host Diwali celebrations.

66 MY OTHER LIFE Janine Horsburgh: the teacher, actress and playwright talks about how she took up the exotic sport of mounted archery, why there is nothing snobby about riding, and what she has learned from the horses.

29 TRADE FAIR

18 GALATIC FUNDRAISER

Femmes Développement’s annual gala dinner.

The British take on Facebook.

November 2011 - delano - 7

Economy

KNOCK-ON BENEFITS The government plans to build Luxembourg as a logistics hub. Is it just the latest buzzword or genuine growth strategy?

Text: Aaron Grunwald — Lead photo: Luc Deﬂorenne

current affairs

Frédéric Humblet (archives)

robert Van De WeG: wants more customers to be based nearby

carGoLuX: free port might help Findel gain against Amsterdam and Frankfurt

“We’re very happy this facility is here,” Cargolux’s Robert Van de Weg says of the new free trade zone at Findel airport, which the government created earlier this year. As part of the development, the site will provide onsite connections between trucking fleets and Europe’s fifth largest freight airport. The government has also proposed building a free port roadrail connection centre in Bettembourg. Reduced transit times are one key argument used to lure major players in the space. Indeed, it is an argument being more frequently made these days, as the government has said the development of Luxembourg as a logistics centre is a significant priority, both to boost inward investment and diversify the Grand Duchy’s economy. An uptick in logistics activity will bring several knock-on benefits, leaders say. The Chamber of Commerce estimates the logistics sector already represents eight percent of Luxembourg’s GDP and employs more than 28,000. It is a workforce-intensive field that “could employ a lot of people out of jobs now in Luxembourg,” explains Pierre Gramegna, the chamber’s president, especially since it is

comparatively easy to train staff for most logistics positions. The available labour force is only half of the equation. Gramegna also points to the Grand Duchy’s central geographic position at the cross-roads of Europe, and the fact that “already most of the infrastructure is in place,” both in terms of road, rail, maritime and air links, plus Luxembourg’s high-speed internet ﬁbre network, as “IT is becoming more and more important in logistics.” Logistics is not just planes, trains and trucks, however. “There are a lot of value added services that can be combined with transportation,” Gramegna says. “That’s often what people don’t see.” FINdEl FrEE pOrT Under the law passed by the Chamber of Deputies in July, companies operating inside the free port are exempt from paying customs duties and value added tax on valuable items--such as coins, jewellery and wine--warehoused “ in transit” for a limited period of time. In August, the Swiss group NLC became the ﬁrst company to commit to the initiative. It plans to invest 30 million euro in the free trade zone, the company’s

managing director said in a newspaper interview. The 152 year old firm is one of the world’s largest providers of storage and transportation of artwork. Today NLC serves clients--include auction houses, exhibition centres and galleries around the globe--from free ports in Geneva and Singapore. It will begin construction “as soon as possible” and hopes the facility will be operational by beginning of 2014, a company spokesman tells Delano. NLC expects to hire 100 employees when the project is completed, he says. While only one firm has announced definitive plans, the free port got a second boost in September when it was announced its new chief would be David Arendt, currently COO at Cargolux. While Europe’s largest air cargo provider is sorry to see Arendt go, it is keen to see the free port thrive. “It means more customers at and around the airport, so it’s better for our business,” says Van de Weg. “Traditionally we have a handicap competing with Frankfurt and Amsterdam, because they have much more customer distribution centres, and related activities such as flower auctions, around their airports. We have had to bring in

November 2011 - DeLano - 9

current affairs

Andrés Lejona (archives)

free Port: logistics sector can grow with gradual enhancements to infrastructure

freight by truck or by air.” He adds: “This disadvantage is solved if more customers set up operations around the airport.” In recent months Cargolux has received the first new Boeing 747-8 super freighters that will revitalise its fleet and linked up with Qatar Airways, as well as added new services to Africa, Australia and the US, to position itself on the capacity side. Van de Weg notes freight forwarding clients such as Switzerland’s Pinel and Italy’s JAS have been investing in their Findel facilities, so the free port rounds out the equation. He expects Findel will see an average of six percent growth in handling volume per annum in the coming years, meaning its--and ground handling partner Luxair’s--investment needs will be gradual and manageable. “It’s not only a matter of scale. We want to grow in the area of special cargo, such as pharmaceuticals and perishable goods. It’s not only getting bigger, but [making smart] investments inside the facility to handle these specific commodities.” He adds: “We’ll be able to carry more goods. Not a large volume, but

10 - DeLano - November 2011

special quality” items that will contribute to the carrier’s bottom line. ONward jOurNEy In October Alain Krecké took over the reins of the Luxembourg logistics cluster, the sector’s official promotion agency. Krecké--the former head of Dudelange-based logistics firm Transalliance Europe--is chartered with creating a concrete path forward for industry. The cluster will organise a series of workshops beginning in January to garner input from both providers and users. By next spring, the aim is to have “a full picture of where the opportunities lie and clearly identify which ‘corridors’ will grow the most,” and how Luxembourg stacks up, explains Gramegna. “We have to find out in which niches the existing actors want to be active. If we have a clear roadmap, we will be able to attract new actors” to the space. The forthcoming report will also help the government figure out what infrastructure is lacking. Separately Luxembourg’s customs service is exam-

ining paperless customs, which could be a key advantage in cutting transit times and thus enticing external trade to enter the EU via the Grand Duchy. The agency is consulting with providers and customers to see “ how it could be done and maybe if it could be done here before anywhere else,” Gramegna says. Like Cargolux, the Chamber of Commerce is eager logistics grow because of the indirect gains. Gramegna notes a strong logistics hub can help develop specialised packaging, invoicing, and reverse logistics and recycling activities. It also could help Luxembourg’s burgeoning biotech sector, “where you need very efﬁcient cold supply chain management.” There is one ﬁnal argument in favour of supporting the sector. “In Luxembourg we import and export nearly everything we produce in terms of goods and services anyway,” observes Gramegna. “With globalisation, the need for logistics is increasing for all countries. It’s a sector that will grow spectacularly, so it would be mistake not to be part of it.”

We deliver you a personal express service.

TNT Express, your reliable partner for documents, parcels and freight. Shipping documents, parcels and freight. No matter what their size or destination is. That is our core business! Thanks to our worldwide road and air network, a flexible way of working and experienced local experts, we deliver any shipment on time, within budget and in perfection condition. That way, you can focus on the things you excel at: running your business. Today, more than ever, TNT Express is your solid logistics partner. For more information, call 357 395 220 or go to www.tnt.lu

snaPsHots

Indian

FESTIVAL OF LIGHTS Photos: Luc DeďŹ&#x201A;orenne and Charles Caratini

Diwali is the festival of lights, an important, family-centred festival for Hindus and Jains. It also traditionally marks the beginning of the ďŹ nancial year in the Indian business community. The Indian Business Chamber of Luxembourg held its third annual Diwali extravaganza on October 22 (this page), and the Indian Association of Luxembourg hosted its Deewali festival on October 29, which also marked its 20th anniversary (page opposite). More photos from both events are availAG able at www.delano.lu.

Sudhir Kumar Kohli, Pedro Castilho and Paul Helminger

Tania de Jager

Corina Neagoe and Mayura Patil

12 - delano - November 2011

snaPsHots

The Sawhney family

Geetha Venkataraman

Ambi and Abirami Venkataraman

The Goyal family

November 2011 - delano - 13

current affairs

Local elections

yoUng gUns go FoR it

As the dust settles on October’s local elections it is clear that the non-traditional parties were the big winners and a new wave of young politicians have entered the frame. Can they make a difference?

Text: Duncan Roberts — Photos: Olivier Minaire

WINTER ROADS Officials from the SeP Grand Duchy, France and Wallonie signed an accord to cooperate when harsh weather conditions--such as those seen last winter--hit the Greater Region. Authorities will take common decisions on road closures and trafﬁc restrictions.

30 •

DATE LINE

September – November 2011

14 - delano - November 2011

Wagner, a 32-year old journalist representing Déi Lénk, and Sam Tanson, 34-year old president of Déi Gréng, who may well have signalled a new era for local politics in Luxembourg. Certainly both seem surprised by their personal results, though they had faith in their party’s ability to do well at the polls. “We were expecting to win one seat in Luxembourg city,” says Wagner, “But to win two was a positive surprise. Globally seen we doubled our score across the country. And we overtook the [populist] ADR.” Wagner says his party’s manifesto showed that it is possible to reach people with social themes and not just by playing on people’s fears--another reference to the ADR. Tanson has a similar take on the election results. She was standing as a can-

3•

oct

Jules Hoffmann received the 2011 Nobel Prize for medicine.

Pascal Disdier/CNRS Photolibrary

A new, young, mayor of Luxembourg, the left-wing Déi Lénk claiming a bunch of seats on local councils, the Déi Gréng [green] party increasing its share of the vote across the board and gaining 33 new seats, the socialists signalling the “ death of democracy” in Bascharage. These were the headlines in the immediate aftermath of the local elections on October 9. Four weeks later the dust has settled somewhat and a sober analysis of the results can be made. What is clear is that the three traditional parties--the conservative CSV, the socialist LSAP and the liberal DP--all suffered somewhere in the polls. And it was the Déi Lénk and the Déi Gréng, using for the most part young candidates, that made the most ground. It is the likes of David

UNION CHANGE Robert Weber stepped oct down as president of the LCGB union following allegations involving the union and ProActif, the job creation scheme accused of cooking its books. Weber had denied ProActif falsiﬁed its turnover to gain additional state aid.

4•

current affairs

didate for the third time (once for national parliament) but says that this was the ﬁrst election in which she genuinely thought she stood a chance of winning a seat in the capital city. “As president of the party, I have received more public exposure and that is the way our electoral system works. People who are elected are those who are well-known.” Responsibility The Greens and Déi Lénk can undoubtedly be considered the winners of the elections. Tanson says she has the feeling that her party’s ideas are reaching more people in general. “We are no longer the ‘exotic’ party. Unfortunately that is because a lot of the things we have warned about since we were formed have

actually happened.” She thinks voters no longer see the Greens as just being about ecological issues, but about sustainability across society. “The party stands for social policy, for a sustainable economic policy and for a liberal society.” Tanson also says that being in power in several councils since the last local elections in 2005, and using that responsibility well, has also been recognised by the electorate. “People are maybe less reticent to vote for us now because we have proven ourselves.” In the capital, the Greens and DP have agreed to form a coalition and Tanson says the discussions between the two party’s representatives were very constructive. “Xavier Bettel [the 38-year old DP mayor elect] led the talks very well and the atmosphere

We aRe no longeR the ‘exotic’ paRty” Sam Tanson

7•

P&TLuxembourg

oct

Ofﬁcials praised a new stamp marking the ﬁght against AIDS.

LIT. PRIZE The culture minister oct awarded the Batty Weber national literature prize to Jean Portante, calling him “a real ambassador for Luxembourg poetry in the French language.” The prize is given every three years to honour a Luxembourgish author’s life work.

14 •

was very positive. If that continues for the next six years we will do a good job.” Strangely, given the Greens’ success, Wagner thinks that many voters who previously voted for Déi Gréng may have also, or instead, given votes to Déi Lénk because--in his words--the Greens’ economic policy is not always consistent with its ecological stance. On the other hand, in the city he is ready to admit that the Greens have performed well as far as mobility is concerned. “You must render unto Caesar what is his, and we are not like the other parties who will just attack a policy because it comes from another party.” neW geneRation Whether Déi Lénk can transpose its good results at local level to the next national parliament elections in June 2014 remains to be seen. “We are the sixth strongest party at national level, but now the ﬁfth strongest in the communes. But even though there were fears across Europe that the far right was gaining popularity, that has not been the case--as recent elections in Denmark also showed.” Wagner, one of the founders of Déi Lénk, has been politically active since he was a teenager in the mid-nineties and was one of the co-organisers of the student strike in 1996. He was a member of the communist KPL for six months before joining the young socialists. He and a few friends wanted to take over the leadership of the party away from its more right-wing element and he rose to be general secretary. “But that was during the whole Tony Blair third way bullshit, and the LSAP thought this was the future, so I quit.”

MANDELL COMING The US Senate conoct ﬁrmedPresidentBarack Obama’s nominee for ambassador to Luxembourg. Democratic ﬁnancial donor Robert Mandell replaces the controversial previous ambassador Cynthia Stroum. He will present his credentials on November 16.

18 •

UNIV. GRANT UNESCO bestowed oct its ﬁrst-ever research chair in the Grand Duchy upon the University of Luxembourg. The university said the UNESCO grant would support human rights programmes. The ﬁrst holder of the chair is history professor Jean-Paul Lehners.

18 •

November 2011 - delano - 15

current affairs

STEEL THERE During an ofﬁcial trade oct mission to China, Luxembourg donated its 2010 World Expo pavilion to the City of Shanghai. The pavilion--which saw more than seven million visitors--will now become part of a Europe-China cultural exchange and trade centre.

20 •

16 - delano - November 2011

david Wagner: has noticed a newly politicised generation

NEW ADENAUER The European Parliaoct ment’s Green bloc previewed the new administrative headquarters being constructed at the Konrad Adenauer building site. The Greens reckon it is one of the largest “zero energy projects in Europe.” Work is expected to ﬁnish in 2017.

24 •

PROACTIF CHIEF The labour minister Nov demanded the re-instatement of the head of ProActif. Romain Schmit was suspended after being implicated in an ongoing fraud inquiry. Nicolas Schmit said on 100,7 radio it “was not normal” for the CEO to be blocked from his job.

1•

• Nov

Crown Prince Guillaume turned 30.

He has noticed that a younger generation of politically active people is emerging. In Dudelange the Lénk list was very young and included six candidates under 21. “We have noticed that the ’68 generation is now turning 60, but the generation of people who were teenagers in the 1980s is missing--maybe it was not such a politically active time. Then there is my generation and a whole new wave of youngsters who have come of age in the current crisis.” Wagner thinks the huge protests in the Rosegarden and in Esch by local students in 2006 against the law regulating unemployment benefit for the under 30s was the first sign of a newly politicised generation. “It was the first time young Luxembourgers have gone on strike for social reasons rather than to do with school.” Tanson only joined the party six years ago when François Bausch asked her to be on the list for the 2005 local elections, “It took me one day to think about it,” she says. A former journalist with RTL Radio, she says her “ heart always beat left”. Having covered local politics, and as a student of political science, she says the Greens were the only ones who managed to convince her personally. “And when I met with François Bausch and Camille Gira I was impressed by their know-how and their objectivity. And they are keen to support young people because they want the next generation to be able to step up to the mark when they retire.”

LUXEMBOURG TODAY A wide-angle contemporary snapshot of Luxembourg covering a broad range of subjects, including a quick look into the past and a long-term view of the future. A portrait comprising new texts and photographic contributions on: architecture – ﬁlm – the ﬁnancial centre gastronomy and wine – industry culture – Lëtzebuergesh – fashion the next generation – politics – sport – tourism the economy – contemporary art.

Out now in bookstores everywhere 200 pages with over 400 photos 39 € www.moien.maisonmoderne.lu

* Moien is available in French, German and English languages.

snaPsHots

Fundraising

FEMMES DÉVELOPPEMENT GOES GALACTIC

Photos: Claude Piscitelli

Femmes Développement’s annual gala dinner fundraiser was held in mid-October in the newly refurbished Casino 2000 in Mondorf-les-Bains. The theme of the 2011 dinner was “galactic” and the models led by Elisabeth del Boccio for what is now the traditional lingerie show (featuring fashions from Just Audace) were suitably styled. Music by Maryan Rousset and Magali Dahan and dance from the Li Marteling school also featured the space age theme. Mayor elect of Luxembourg city, Xavier Bettel, was the MC for the night and minister Jean Halsdorf was among the guests. Femmes Développement was established by businesswoman Luisella Moreschi and Abbé Pierre, a Rwandan priest, some six years ago after Luisella visited the country. It began by providing microcredit aid for the widows of the country’s terrible genocide, but has since also raised money to build a school for 1,500 students in the city of Nyanza and also to provide housing for young women attending education. Luisella’s efforts were recognised by Rwanda when she was made consul general in 2008. DR

Magaly Carroll and Zinda Krieger

Elisabeth del Boccio’s model team

Pascale Modugno, Marc Waltener, Sylvie Olmedo, Jose Olmedo, Patricia Olmedo and Salvatore Modugno

Lea Linster, Monsignor Jacinto Berloco, Luisella Moreschi and Abbé Pierre

www.femmesdeveloppement.org

Li Marteling’s dancers

Close to 300 guests attended the gala event in the Casino 2000

18 - delano - November 2011

Xavier Bettel and Li Marteling

current affairs

Euro crisis

Juncker stunned by Greek decision

Luxembourg’s premier and president of the Eurogroup said he had been taken by surprise by George Papandreou’s decision to hold a referendum on the package agreed by euro zone ministers. Text: Duncan Roberts — Photo: Olivier Minaire

Speaking on RTL Radio the day after the Greek prime minister sent stock markets into a panic, Jean-Claude Juncker said that the decision raised several questions. For starters, Juncker said it would be difficult to decide whether to go ahead and pay out the eight billion euro, the sixth tranche of the Greek bailout package, if it is not certain whether the Greeks still agree with the deal. Juncker was eager not to draw conclusions without knowing the full facts. He was unsure whether the Greeks would reject the entire package--including the 50 percent “haircut” agreed by euro zone government leaders and finance ministers at the end of October--nor what questions will be asked of the Greek people in the referendum. “We don’t know any of that and therefore it is too early to give a full assessment of the situation.” Indeed, Juncker said it was difficult to make any prognosis on the consequences of the referendum without knowing exactly what the Greeks will be asked to vote on. However, he did not rule out default and said that “ if the Greek people say no to everything that has been agreed so far, then I don’t see either how we can continue with the Greeks on good terms.” Juncker said that although the situation would be discussed on the fringe of the G20 summit (which took place after Delano went to print), the G20 itself could have no decisive influence.

Jean-Claude Juncker: could have done without this news

“It is a question that Greek democracy has to answer itself.” But Juncker was clearly taken by surprise by Papandreou’s bombshell--the bazooka going off in the wrong direction, as one analyst at SocGen was reported as saying in The Guardian. “I could have done without this news,” Juncker said. “The Greek prime minister took the decision without discussing it with his European colleagues,” he told RTL. “During the last few months he had hinted, and clearly said, there may be a need for a referendum, but he then dropped the idea. I understand he is in a political situation, domestically, where he needs clarity and requires the majority of the

Greek people to be behind him, but that raises a lot of other questions.” Juncker recognised that what had been expected of the Greeks over the past few months, and would continue to be expected of them in the coming months, had been so heavy that it had led to civil and political unrest. However, he appeared cautiously optimistic. “Maybe if the Greek people are confronted with the ultimate responsibility, they will decide in the right way. Therefore it would be useful if we and others avoided reacting to Mr. Papandreou’s initiative by making negative and nasty comments about the Greek people in parallel. The normal Greek people haven’t deserved that.”

November 2011 - delano - 19

04_p19_current affairs_news1page.indd 19

04.11.2011 17:30:15 Uhr

current affairs

Euro crisis

Frieden: sound public Finances The evening after European leaders restored faith in the markets by providing Greece with a 50 percent “haircut”, Luxembourg’s ﬁnance minister addressed the American Chamber of Commerce.

Text: Duncan Roberts — Photos: Olivier Minaire

Speaking without notes, Luc Frieden explained that although the debt write off package for Greece was an immediate solution, it was far from the end of the crisis. He emphasised the need for all governments of the 17 Euro zone nations to get their house in order and drastically reduce their debts. “The longterm solution has one prime target, and that is to have sound public ﬁnances.” Frieden said that current levels of public debt in the Euro zone were much too high, at around 80 percent of GDP. Indeed, he explained that when the Treaty of Maastricht was drafted, it was decided that 60 percent of GDP was the benchmark for debt. “But that was still considered very high--it was a compromise, but had to be that high because some countries were already at 100 percent.” better entry mechanism He did acknowledge that reducing public debt cannot be achieved from one day to the next. “We are in a vicious circle where governments should spend more to stimulate the economy, but also have to reduce public debt. But there is no alternative. In the short term it is painful, but in the long-term it is the only way to restore a strong basis from which Europe can grow.”

20 - delano - November 2011

luc frieden: now is the time to go to emerging markets

Asked whether there should be an easier exit mechanism for countries that might default and could reboost their economy with a devaluation, Frieden replied: “I think there should be a better entry mechanism.” He said he still has difﬁculty understanding how Greece managed to enter the euro in the ﬁrst place--a sentiment shared by French president Nicolas Sarkozy in an interview on France 2. Unsurprisingly, Frieden is still a champion of the euro. He said that many of

the arguments he used to convince citizens and businesses of the advantages of the single currency project back in the 1990s still hold true today. “We tend to forget them. I said there would be no more competitive devaluations, it would be easier to compare prices, there would be no transaction costs and there would be price stability.” As for Luxembourg, the minister said that the current public debt of 17 percent of GDP is high in historical

current affairs

Stephen Evans and Thomas Flammant

Artur Sosna, Sharon March and David R. Fetter The event took place at the Autopolis car dealership Fabrice Poncé and Maximilian von Hochberg

terms, but low if it excludes the funds borrowed in 2008. His goal is to keep public debt low and reduce the deﬁcit, but at the same time avoid increasing taxes, which he said is the “easy way” to solve the problem. “If you increase taxes in a structural way, you become less competitive especially in an economy like ours that needs to attract foreign investors.” That foreign investment yields rewards such as some 350 million euro from the VAT levied on electronic commerce, and a further 600 million euro from the investment fund subscription tax. “That is almost one billion euro in the public coffers from just those two sectors, which we have fought hard to attract.” Foreign investment A recent trip to Asia, the timing of which was criticized in some quarters, also brought potential rewards. “Exactly now is when we have to go to the emerging economies, to show them what we can offer in the financial services sector,” Frieden said. He revealed that leaders of the three largest banks in China are interested in expanding in Europe and are very interested in Luxembourg. “Last year we attracted ICBC, the largest

bank in China, maybe even the world. Another bank might open here and a third bank that is already here conﬁrmed, on the basis of a number of commitments that I was willing to make, to expand its Luxembourg operation.” In Singapore, Frieden pointed out that 1,500 of the 2,000 foreign investment funds distributed are domiciled in Luxembourg. The minister said he was also keen to draft legislation implementing the alternative investment funds management directive into Luxembourg law, “so that we can get a share of that market.” The reform of the pensions system and civil service pay structures being implemented by the government is just part of its public spending effort. “Decisions require political courage,” Frieden said. “We cannot go on as we did in the past.” On the other hand, as a triple A rated country, Luxembourg has the luxury of being able to invest more to support the economy. The state budget next year will see investments of some 1.8 billion euro in infrastructure. “That is four percent of GDP, which is high compared to other European countries but will make Luxembourg even more competitive in the future.”

Ed Goedert, Paul Schonenberg and Luc Frieden Ed Goedert

Iris Ovadiya

November 2011 - delano - 21

CURRENT AFFAIRS

Public building

Etienne Delorme (archives)

DNR RADIO

The station has been trying to corner more of the Anglophone internaal community market and tional unched a show by Thorunn (photo launched (photo) in English--Friday Punch is broadcast English-on Friday evenings--in addition to xwell G Soun Maxwell George’s A Touchh of Sound show. But new head of music B Ben Andrews quit the station after just six weeks in the job. THE SCHLECK BROTHERS Fränk and Andy’s charming naivety ense of humour scored th and sense them ints when they were caught offpoints guard by a fake Japanese TV interviewe er on Du utcch sstation taatioon RTL4. Le ess viewer Dutch Less od for the Schlecks is the schedul good schedule ext year’s Tour de France, for next revealed on October 18, which seems to favour time trialists rather than climbers. CHRIS SCOTT The October Delano cover star fared much better at the polls than at the last local elections in 2005, even though she still failed to win a seat on the council in Luxembourg City. She has also started her own English-language radio show on Radio Latina--Speak Out is broadcast on Friday evenings at 8 p.m. on 101.2 and 103.1 FM.

www.radiolatina.lu

FÉDÉRATION LUXEMBOURGEOISE DES ÉDITEURS The publishers’ federation saw its president, Susanne Jaspers, resign after a fall out with the ministry of culture over a lack of communication and its reduced presence at the Luxembourg Stand during the recent Frankfurt Book Fair. Jaspers’ criticisms were dismissed by the ministry’s communications ofﬁcer Giny Laroche in a Tageblatt interview.

22 - DELANO - November 2011

NATIONAL STADIUM KICK OFF DELAYED

The controversy surrounding the new national football stadium and shopping centre in Livange refuses to go away.

Valode & Pistrex

it's been a gooD or baD month For:

The construction of a new 10,000-seat national football stadium at Livange, in the commune of Roeser, has once again been called into question. At the end of September, the Mouvement Ecologique had criticized the involvement in the project’s shopping centre of Flavio Becca, whose home and ofﬁces were raided as part of a tax investigation into tax fraud and the “abuse of corporate assets”. That led to parliamentary questions about how the go-ahead for the stadium was given by government ministers. But, following October’s local elections in Roeser, it was also revealed that some of the land on which the stadium will be built was owned by the husband and brother-in-law of Pierrette FerroRucker, one of the commune’s alderwomen who voted in favour of the stadium plans. She should have abstained from the vote due to that conf lict of interest. Minister for the interior, Jean-

NEW STADIUM: controversial site outside of the capital city

Marie Halsdorf has recommended that the entire planning procedure be started anew. Mayor Tom Jungen and his deputy Renée Quintus-Schanen have agreed to Halsdorf ’s proposal, but so far there is no indication of by how long the project will now be delayed. The government has said the stadiumshopping centre is “of national interest” and at a meeting of the Luxembourg Football Federation on October 22 sports minister Roman Schneider said that the project must go ahead as quickly as possible, even if the shopping centre has to be reduced in size. The original plans for the stadium, which is to be built on ﬁelds that are regularly subject to ﬂooding, called for a 28,000m 2 factory outlet store. But retailers in Luxembourg city, with support from the city council, have expressed concern that this would lead to a further exodus of shoppers from the capital. DR

FACULTY OF LAW, ECONOMICS AND FINANCE

Study at the University of Luxembourg

Law, Economics, Finance and Management The proximity and our close contacts with several EU institutions and the international ﬁnancial centre of Luxembourg create an ideal setting for tomorrow’s leaders. We train them.

Our Master programmes • Master en Droit Européen LL.M. • Master en Droit Economique Européen LL.M. • Master en Droit Européen et Financier International LL.M. • Master in Economics and Finance • Master of Science in Banking and Finance • Master in Entrepreneurship and Innovation • Master of Accounting and Audit The advantages • Multilingual programmes in French and English or English-only degrees • Classes taught by leading scholars and practitioners • Individual tutoring More info at www.uni.lu /fdef or seve.infos @ uni.lu - T. +352 46 66 44-6060 University of Luxembourg | Multilingual. Personalised. Connected.

current affairs

Kirchberg development

AdenAuer expAnsion

The European Parliament’s Green bloc preview eco-friendly building plans to the press.

Text: Aaron Grunwald — Images: Heinle, Wischer und partner

in much of non-francophone Europe and the Middle East. The existing Konrad Adenauer building will also get an energy efficiency makeover, the Parliament says. Konrad Adenauer was German chancellor from 1949 to 1963 and one of the leading proponents of European inte-

Preliminary work has begun on the new administrative headquarters of the European Parliament--the General Secretariat--which is being built around the existing Konrad Adenauer building in Kirchberg. It will eventually house the 3,000 employees who currently are based in six different leased ofﬁce spaces spread across the plateau. The Parliament’s Green alliance reckons it is one of the largest “zero energy projects in Europe.” The structure will feature more than 8,000 square meters of solar panels to generate electricity and 160 square meters of solar thermal panels to heat water. In addition, the building will generate its own biomass energy, use 23 geothermal wells, recycle heat from its computer servers, and will feature state-of-theart insulation, triple-paned windows and a rainwater recovery system that will save an estimated 10,000 cubic meters of H 2O per year. The Parliament says it wants to garner an “excellent” BREEAM rating, the highest score given by the UK-based green buildings agency BRE, which is used as the international standard

gration. The General Secretariat has been based in Luxembourg for more than 50 years. Construction on the 400 million euro project--half ﬁnanced by the neighbouring European Investment Bank and half by a private commercial bank--is expected to ﬁnish in 2017.

Future view of place du Parlement

European Parliament

The future view from boulevard John F. Kennedy

Future view of the atrium

phot'on air

Construction under way next to the current Adenauer building

Work in progress

24 - delano - November 2011

Business Information and Networking Events For Luxembourgâ&#x20AC;&#x2122;s international English-speaking business community

Business Lunch Friday 25 November Personal Tax Speaker Karl Horsburgh Hilton Luxembourg

Business Dinner Tuesday 29 November International Chambers Gala Dinner Guest of Honour His Royal Highness The Crown Prince

Social/Sporting Event Thursday 08 December Winter Driving Safety Day Colmar-Berg

Business Lunch Friday 16 December Annual Christmas Lunch Guest Speaker The Hon. Alice Walpole, British Ambassador

For more details on these and other events and to register visit www.bcc.lu or call the office on +352 465 466

Entrepreneurship

START-UP CHALLENGE

This year Luxembourg’s start-up support initiatives are going beyond just early stage ventures. Will a different approach attract international, fast growth ﬁrms? Text: Aaron Grunwald – Photos: Luc Deﬂorenne

Business

GARy KneiP: a viral approach means the right entrepreneurs are ﬁnding Luxembourg themselves

LAuRenT PROBsT: takes the long-term view when supporting start-ups

Twenty-seven start-ups from ten countries gathered one late October morning at PwC’s Luxembourg headquarters, to take part in the Civica European Venture Contest semi-final. Each entrepreneur had just a few minutes to present and defend their business plan to a panel of venture capitalists, industry executives and government representatives. The competition fits with the government’s effort to diversify Luxembourg’s economy and create jobs outside of the financial sector, as well as the EU’s 2020 objective to stimulate innovation in Europe. While the eco-tech, health and ICT start-ups were gaining valuable exposure for themselves--and chasing the 90,000 euro grand prize--officials hope such support exercises make Luxembourg more attractive for young firms and make a positive impact on the economy. At the same time, there is also widespread recognition of the need to move well beyond the start-up stereotype of two geeks in a garage. Luxinnovation, the Grand Duchy’s research and development promotion agency and one of the contest’s backers, has long cultivated early stage start-ups. The objective is to entice bright entre-

preneurs--local talent but mainly those coming from abroad--to take advantage of the favourable economic and regulatory climate and establish their ﬁrms in Luxembourg. Since 2000 it has worked with counterparts in the Greater Region to put on the 1,2,3 GO business plan competition, which provides ﬁnancial backing to encouraging young start-ups, for example. It calculates that the programme has helped create more than 240 start-ups and nearly 1,000 jobs in the Greater Region. Luxinnovation also assists early stage start-ups through efforts such as the Young Innovative Companies initiative. The programme helps entrepreneurs gain access to the economy ministry’s matching grants scheme. If founders secure up to one million euro in private funding before approaching the ministry, they are eligible for a similarly sized investment by the government, explains Dr. Françoise Liners, manager of the agency’s BioHealth Cluster. FAST GRowTH FiRmS Over the past few months there has been increased action in fostering the

development of start-ups that are more advanced. These are firms with some degree of established products and customers, that now face the challenge of growing quickly beyond their home base. One programme launched this year aims to position Luxembourg as the ideal spot for American and Asian tech companies to expand into Europe. Europe4Startups is offering such startups a free year of financial, legal, IT and marketing services, not to mention free office space, explains Gary Kneip, head of the initiative and CEO of data centre provider SecureIT. The project was born out of the classic international marketing challenge: how to find the right people, and convince them that the Grand Duchy is the right place. Instead of organising conferences in the US and China, Kneip wants to see “a paradigm shift” in having the right type of contacts seek out Luxembourg. Europe4StartUps--comprised of several well known organisations--uses viral marketing methods to promote the project, which Kneip says “ definitely works.” The group has already garnered dozens of interesting applications.

November 2011 - deLAnO - 27

Business

JeAn-FRAnçOis CHAMPiGny And MiCHAeL O’neiLL: scrutinising start-ups at the European Venture Contest

At first glance, a free year of rent and services with no further commitment may seem an unlikely offer and many young firms are wary, looking for the hitch. “This is something we’ve been very clear about,” says Kneip, who in July was elected president of the CLC, the federation which represents the Grand Duchy’s trade, services and transport sectors. “This is not a honeytrap. We are not a philanthropic organisation. We have a business goal: to first keep you in business; second, keep you in Luxembourg; and third keep you” as a client with one or more of the supporting companies. “There’s no lock-in strategy. Actually our risk is that after 12 months, a start-up says, ‘it has been very nice, but I’m going over to London or Amsterdam because I like the climate better.’” Kneip plans no arguments with firms that decide to leave, because “this will destroy our viral marketing effort.” Yet, “if you look at the alternative effort to go into the world and try to catch those that now are coming to us, this would be an equal effort, both financially and from a time perspective. So I think it’s a fair approach.” Europe4StartUps plans to host ten

28 - deLAnO - November 2011

firms per year, says Hélène Michel, start-ups liaison manager. The first four are expected to arrive at SecureIT’s Bettembourg facility in January, with the rest coming on a staggered basis throughout the year. SiLiCoN VALLEy iNSPiRATioN Another project unveiled this year is the PwC Accelerator, an incubator for fast growth companies that are expanding internationally. The consulting firm hopes to build a bridge between Silicon Valley and the Grand Duchy for tech savvy entrepreneurs, says Laurent Probst, innovation and R&D leader at PwC Luxembourg. The firm partnered with Plug and Play, a well established incubator based in California, and built-out 700 square meters in one of its Cloche d’Or buildings, complete with state-ofthe art ICT systems and a separate entrance, so “people can really spend time there in a very flexible manner.” Probst says it will help “position Luxembourg as a platform for international entrepreneurs and international investors,” as well as PwC in the long run. “We will not make a lot of business out of

the Accelator, in terms of volume.” However as the companies grow and eventually even go public, “ hopefully they will work with us.” At the same time, working with dynamic firms will help PwC enhance its own offerings. “It’s not the same serving a bank or a large industrial company, and serving a company which is in an acceleration process.” START-UP CoNTEST Such long term goals are also why PwC partnered with Europe Unlimited to host the third annual Venture Contest. In fact, four of the six winning startups at the semi-final were Luxembourg f irms. They will move on the last regional qualifying round in Düsseldorf in November and then the top 25 worldwide finalists will compete in Madrid this December. However, three of the contestants--Creative Heating Services, TaDaWeb and Zentrick-already have taken home a free year at the PwC Accelerator. Semi-final results and more photos of the European Venture Contest are available at www.delano.lu.

snaPsHots

Networking

BRITISH TAKE ON FACEBOOK

Photos: Charles Caratini

Tobias Oppold

Alice Walpole

Chairman Robert Deed thanked BGL BNP Paribas for hosting the trade fair for the 4th time

Margot Parra

A social media conference anchored the British Chamber of Commerce for Luxembourg’s annual trade fair in October. British ambassador Alice Walpole ofﬁcially opened the event, taking the opportunity to promote Britain’s digital skills, such as Tech City in East London. Skype presented a case study on how it uses social media to reduce customer service costs. The ﬁrm encourages users to provide technical support to each other via a community forum, reducing the need to run expensive call centres, Neil Ward, its Luxembourg chief, said. By the same token, it does not look at social media primarily as a marketing channel, Ward told Delano following the conference. Nevertheless, social media does play a key role in attracting new customers, found a panel led by Daniel Eischen, CEO of Interact. For example, BGL BNP Paribas uses Facebook to reach young people who would not normally be interested in hearing from “a stuffy bank,” said Ilona Biwer. While Facebook and Twitter are “good things to do,” said Patric de Waha, CEO of Zap.lu, it’s important to “engage at a deeper level.” More photos from the event are availAG able at www.delano.lu.

More than 150 attended the trade fair and conference

Catharina Biver Neil Ward

November 2011 - delano - 29

Business

Legal

CLass aCTiONs iN EurOpE? The US class action lawsuit system has gained a bad reputation in Europe as a forum for frivolous lawsuits, but an AMCHAM event explored which elements might end up being adopted in the EU.

Text: Aaron Grunwald — Photo: Luc Deﬂorenne (archives)

Class actions--where a large group of individuals pool legal resources to file a unified claim alleging a “widespread wrong”--are quite common in the US, Bill Lockwood, conducting officer of Franklin Templeton Investments in Luxembourg, told Delano during an interview. He was speaking in advance of a seminar, “Class actions: a purely US phenomenon? ” organised by the American Chamber of Commerce in Luxembourg and supported by ALFI, at the BGL BNP Paribas auditorium. The European Commission is currently examining the need for an EU collective redress framework, explains Lockwood. The Commission issued a consultation paper this spring to study if there was a need for a pan-European system and if some American features could be effectively adapted into EU rules. So far, authorities have received more than 200 official responses to the consultation, including from consumer groups and industry players. However, the Commission has not said when it will take its final action. “The jury’s still out there,” he says, noting there are still 27 differing national systems to contend with. “The plan is to come out with proposals, but there’s no consensus about coming out with an EU plan, as some countries have quite developed solutions…. and some have nothing at all.” “The idea is take some aspects of the US class action world, bring them to Europe and try to put some safeguards around them to make sure it works here. Because if you don’t put safeguards around it, it is a system open to abuse,” says Lockwood, who

Bill locKWood: the current US system is open to abuse

“ hOw DO wE gO abOuT makiNg ThiNgs gO bETTEr”

30 - delano - November 2011

served as panel moderator during the event and is active on AMCHAM’s ﬁnance committee. NEED TO EVOLVE For example, an administrative review agency could vet complaints to ensure they meet certain criteria. Another idea is to implement the “loser pays” system, where the loser of the trial pays all litigation expenses of the other party,

to limit frivolous filings. In cases of “widespread wrong” today, European asset managers may feel obligated to pursue legal action out of their duty to protect their investors, however they must also consider the cost and risk involved. So Lockwood reckons there is a “missing tool” in European law today, as it is difficult to individually seek redress in complex cases. Lockwood stresses it was an educational event, not technical. “The whole thrust is how do we go about making things go better.” Other presentations were given by a leading US attorney in the field, Lawrence Sucharow, and François Kremer put the Luxembourg legal perspective into view. Galen Vetter from one of the largest class action administration firms also gave a behind-the-scenes explanation of how such suits work.

SHOP WORLD WIDE

WE RECEIVE, YOU PICK UP 24/7

USE A BPM ADDRESS

BPM.LU

Experienced Personal Assistant - Spanish or Russian speaker Luxembourg ! m/f

Our client is an international holding company. Active worldwide, they would like to reinforce the support team in their Luxembourg office and are currently looking for a Personal Assistant.

Job description: You will work closely with the CEO and the management team and will be responsible to provide a general and organisational support. Your tasks will include: Manage agendas ! Manage complex travel arrangements all over the world ! Organise and prepare executivesâ&#x20AC;&#x2122; meetings as well as scheduling conferences ! Prepare files and presentations and prepare expense reports ! Handle incoming calls, emails, and correspondence !

Candidate Profile: You have 8-10 years of experience in a similar role in an international setting and extremely dynamic environment in Europe ! Perfect command of Russian or Spanish and English, a good level of French is considered as an asset ! You are very flexible and extremely rigorous ! You are independent and well organised ! You have excellent communication skills ! You are reliable and stress resistant ! You have a perfect command of MS Office (Word, Excel, Powerpoint) !

Interested in this role? Please send an up-to-date CV to info@pagepersonnel.lu quoting reference LDUM501799 WWW.PAGEPERSONNEL.LU

AGEPERSONNEL.LU

OFFICE

Business

Funds

tHe NeXt ucits? Europe’s new “alternative investment” rules take effect in just three years time. Is Luxembourg ready to repeat its cross-border tour de force?

Text: Aaron Grunwald

It took 18 months to draft, consisted of 30 different versions, ran to 400 pages and contained 1,700 potential amendments, recounted Benjamin Lam, private equity and real estate leader at Deloitte Luxembourg. “There’s a general consensus that alternative funds must be regulated, but the directive is controversial and complicated,” Lam said during his opening remarks at a Deloitte conference in October. The directive is the EU’s Alternative Investment Fund Managers Directive, born out of the popular desire to rein in the hedge funds and investment vehicles thought to have been major contributors to creating the ﬁnancial crisis. Just as Luxembourg became the hub for retail funds, many industry players here are hoping to recreate the magic with the AIFMD. Today alternative funds are required to follow few, if any, regulations, as their target customers are institutional and sophisticated individual investors look-

September – November 2011

32 - delano - November 2011

comPliaNce costs A small fund can expect to spend up to 200,000 euro per fund to set up the required structure and gain regulatory approval, Gregor Berke, an attorney at the Luxembourg law ﬁrm Wildgen told Delano. Afterwards, each fund will need to have “at least one full time compliance or AIFM ofﬁcer, to monitor and follow up ongoing issues under the directive.”

VAT DEAL? ThePolishpresidency SeP of the EU proposed increased VAT harmonisation in Europe by 2013, to give businesses more clarity on their tax liabilities. A first proposal, on ﬁnancial services, has already been submitted to the European Parliament.

30 •

DATE LINE

ing for an alternative to the more triedand-true mutual funds that are designed for the average retail client. The coming rules are undoubtedly costly. It is expected to cost six billion dollars to implement and add one percent to the cost of running a fund, Lam estimated. However there will be an increasing measure of convergence between retail and sophisticated funds rules--which will come into full effect in 2015--and fund managers will be able to get an EU-wide license similar to today’s UCITS passport.

If done in-house, a mid-sized fund’s compliance function will cost up to 400,000 euro to set up and then will require two compliance officers, not to mention a “separate office with separate locks, and separate software,” Christopher Bennett, director of administration and management services provider DCG said in an interview. “It will make business more formal and more expensive, but from some politicians’ and investors’ point of view that might not be a bad thing,” Noel Fessey, managing director of Schroders Asset Management Luxembourg, told the Deloitte conference. In his view, large asset managers already possess the firepower needed to comply with rules, so he is “ looking at the AIFMD pragmatically.” At the same time, he acknowledges that smaller, “specialised firms don’t carry the governance functions assumed under the directive. That might be where changes take shape.” One of the biggest shifts could come in Germany, where today a

FREE TO WATCH EU law allows the use oct of foreign satellite TV decoders, the European Court of Justice ruled. In a blow to News Corp., national monopolies of televised sports--such as English Premier League matches--will now be extremely difﬁcult to maintain.

4•

MORE LABELS LuxFLAG issued four oct new microfinance labels, bringing the total granted since last year to 20. The certification agency verifies that funds meet socially responsible investment criteria. The 20 funds represent $2.9 billion in assets under management.

5•

Business

BenJamin lam: compliance costs will be high

Olivier Minaire

Charles Caratini

gregor Berke: Luxembourg is well placed to help German funds cope

New fuNctioNs These types of funds are unique to Germany, but will fall under the AIFMD. Small fund houses “will be confronted with the question of whether to set up a [compliant] management company” and seek a license from the “strict” German regulator BaFin, “or to shift all or part of their business to Luxembourg

SKYPE DEAL The EU cleared Microoct soft’sacquisition of Luxembourg-based Skype, because it faces sufﬁcient competition from Google and Cisco. Microsoft is paying $8.5 billion for the Internet voice ﬁrm and hopes to complete the deal by the end of the year.

7•

and be in touch in the more pragmatic and client friendly CSSF.” It is not a question of regulator shopping, Berke stressed. “They could take advantage of the back and middle ofﬁce functionalities here in Luxembourg, because it’s not all about asset management. The directive also comprises further risk management, compliance, evaluation, conﬂict of interest, and custody and depositary functions, which are quite new for German fund promoters. [Currently] they don’t need a bank or a credit institution or anybody to take care of custody. This is new. For Luxembourg, it’s quite familiar. We have been used to that since UCITS I. Custody is just plain vanilla for Luxembourg.” Berke believes many of the funds will outsource the new roles to well-estab-

BIG MERGER Luxembourg’s ﬁnanoct cial regulator approved the merger of Deutsche Börse-owner of Clearstream--and NYSE Euronext, an “important supervisory milestone,” Deutsche Börse said. Germany and the US have also OK’d the deal, but EU approval is still pending.

12 •

lished Luxembourg service providers for cost and staff reasons, while other houses will relocate totally to the Grand Duchy with the aim of selling their present investments to a wider crossborder clientele via the EU passport. Indeed, it is not just German funds that will need to close the compliance gap. Property funds in general will also ﬁnd themselves on completely virgin terrain. “Building a risk management function could be quite a challenge for small asset managers,” Daniela KlasenMartin, managing director of DCG in Luxembourg said in an interview. The 23-year old Jersey ﬁrm that established its Grand Duchy operations last year and is now building a turnkey risk management and control framework for real estate funds.

17 •

oct

The trade minister hosted “Business Matching” in China.

GAP CLOSED Luxembourg became oct the last euro zone country to launch a central securities depository, a step needed to remain competitive in the single European ﬁnancial market. LuxCSD is a joint venture between Luxembourg’s central bank and Clearstream.

17 •

Charles Caratini/SIP

host of private equity and retail closedend funds are totally unregulated. A mass of such funds have become extremely popular with German investors, Berke explained. Each fund has a “simple corporate structure” with quite clear and focused investments, which could be anything ranging from photovoltaic energy parks to a single apartment building.

November 2011 - delano - 33

Luc Deﬂorenne

Business

daniela klasen-martin: real estate funds have to change their thinking about risk

Bennett added that Europe’s rules are designed to stop fraudsters such as Bernard Madoff, but having a risk function separate from the portfolio manager is an alien concept for real estate and private equity funds. “They are used to doing their due diligence beforehand, because the biggest risk is when they buy something.” GrowiNG similarities While the new rules are not yet ﬁnalised, the Grand Duchy hopes “to imple-

18 •

oct

1.6%

E&Y’s 2011 euro zone GDP growth forecast.

34 - delano - November 2011

ment them as soon as possible,” Jean-Marc Goy, international affairs counsel at the Luxembourg f inancial regulator CSSF, said during the Deloitte conference. “First mover advantage is important. It gives security and a ﬁxed framework that stakeholders can take into consideration when preparing for the AIFMD.” In fact, management companies already approved to provide retail mutual funds will be able to “ leverage” their license for alternative funds, and vice-versa

NEW ORBIT The European Space oct Agency launched the ﬁrst Galileo satellites. The €10 billion programme will compete with America’s GPS starting in 2014. Luxembourg’s space industry is positioned to beneﬁt from the project, having joined the ESA in 2008.

21 •

Goy confirmed. While such permission would not be automatically granted, it would ease fund companies’ entry into new segments. There is yet another reason for Luxembourg to get ready for the directive: while the coming AIFMD regulations are being inﬂuenced by today’s retail investor rules, Goy said “ it is highly likely that future UCITS rules will be inspired by the alternative investment fund rules.”

NEW RESERVES EU regulators said Euoct rope’s banks might need to set aside €106 billion to protect against possible sovereign debt defaults. French banks need €8.8 billion, German banks €5.2 billion, but Luxembourg banks zero. Final ﬁgures are due out in November.

26 •

MORE RETAIL There are 28,045 Nov companies in Luxembourg, statistics agency STATEC said. With 7,184 firms, retail is the most numerous type of business found in its official listings, followed by scientific and technical activities (5,220) and construction (3,234).

2•

Business

Trade and investment

“ We need to have fall-back solutions”

Economy and foreign trade minister since 2004, Jeannot Krecké talks to Delano about increasing the Grand Duchy’s ties with the “BRIC” countries-Brazil, Russia, India and China--and inward investment from emerging markets.

Interview: Aaron Grunwald — Photo: David Laurent/Wide (archives)

AG: Today most Luxembourg exports go to European markets. In ﬁve to ten years, will that shift in favour of the BRIC countries? JK: It is no secret that we witness higher growth today in emerging countries like the BRICs than in our ‘mature’ economies. Consumption in India, China, Russia or Brazil is on the rise due to the emergence of a middle class with more purchasing power. Given the large populations in these countries even a small growth in percentage results in very high absolute ﬁgures which means that there should be an almost mechanical effect on some exports. It is nevertheless true that more and more products --even sophisticated ones--are manufactured locally, so the growth in demand and our exports to the BRICs will not be in total harmony. Our companies will have to struggle for market share and stay at the vanguard of innovation. Luxembourg produces only a small amount of consumer goods, which is in this case good because, in order to produce locally, BRIC manufacturers often

36 - delano - November 2011

need Luxembourg products such as sophisticated machinery. Generally speaking, one of the mantras that I kept repeating over the last seven years has been that our companies need to diversify their customer base, also geographically. When the euro zone--our biggest client--doesn’t do well, we need to have fall-back solutions. AG: Do you think there is a risk of over-focusing on these major players? JK: It really depends on the business you’re in. I guess that nowadays the BRICs, with all their difﬁculties in terms of market access, are often still easier to do business with than quite a few African countries. But when your product or service is geared towards the African market, then you will certainly focus on this, rather than on Russia, for example. Right now, over 85 percent of Luxembourg exports go to the EU and a good chunk of the remainder to the US. With the little that is left, it would be hard to argue that there is ‘over-focusing’ on anything.

AG: Do you think Luxembourg’s reputation as a UCITS centre is a ‘door opener’ that can help attract more emerging market clients to the financial centre? JK: Frankly speaking, I think the world of UCITS is one where some sophistication is necessary. Most people don’t even know the term. To the general public and even to business leaders outside Europe, Luxembourg is known as a financial centre. Very often there is little distinction made between our know-how in terms of investment funds, private banking, financial engineering, etc. The big disappointment that I often see in the faces of emerging market clients has to do with the fact that they often don’t know that Luxembourg is, simplifying a lot, a place for people with money and not a financial centre for people who need money. Projects are presented to us, often very interesting ones, with the hope that ‘the dynamic Luxembourg financial centre’ will organise the financing. Then I almost always have to say ‘sorry, we’re not in that game.’

Business

Jeannot KrecKé: Luxembourg’s biggest opportunities are outside ﬁnancial services

AG: What opportunities does Luxembourg have with the BRICs outside of financial services? JK: I am firmly convinced that sophisticated products and services are our key asset in our future economic relationship with the BRICs. Luxembourg can offer some world-class know-how. I am actually even more convinced that non-financial service companies will have a brighter future with emerging market clients, advising them during their development. Green technology, logistics, infrastructure engineering and planning are all sectors where we possess specific skills that are in high demand outside Europe. AG: German companies, for example, often quickly gain acceptance from international clients in the BRICs because of Germany’s reputation for manufacturing and green energy. How can a smaller country compete with giants in sectors like ecological technology? JK: We do not compete with giants. We cooperate with them or position ourselves in our own little niches. Luxembourg has a reputation for quality. I think that has to do with the myth about being the richest country in the world. Well, we all know that it’s not true, but a lot of people actually think that ‘if those guys are even richer than the Germans, they must also be better than them!’ Often we are, say in steel production or engineering in the steel sector. AG: Is Luxembourg prepared, linguistically, to work with the BRICs and emerging economies, where English is the second language and French and German are not used? JK: Being the home of an important population with Portuguese roots, Luxembourg is certainly well positioned to explore the Brazilian market. We do encourage companies to train their sales

We do not compete With giants” force in foreign languages, with grants of up to 50 percent of cost being available via the Ofﬁce du Ducroire. Russian and Chinese are becoming more and more important and I applaud parents who try to give their children some exposure to these languages. Spanish has long been taught in Luxembourg’s secondary schools. And we’re OK for India. Most Indians speak with just as much accent in their English as we do. AG: Does Luxembourg welcome inward investment from the BRICs, or do you have any concerns about xenophobic measures being taken? JK: I have to admit that I worry a bit when I read or hear some of the comments my fellow Luxembourgers make when a foreign investor enters into the share capital of what we perceive as a ‘Luxembourgish’ company. They do not understand our economic history. Luxembourg without foreign entrepreneurs and foreign investors would still be the

famine-ridden backwater that drove its sons and daughters to mass-emigration in the 19th century! Look back: our steel industry was created with mostly Belgian and German capital, often German know-how, Polish, Italian and French labour force to supplement us Luxembourgers and the products ﬁnally sold onto the German market. RTL, our media giant, always catered to international audiences, as did SES. The money managed by our banks and investment funds generally doesn’t belong to Luxembourg clients. The interaction with the outside world and our openness to international investors is the secret to our success. Denying this and calling for protectionism is pure foolishness. But it is also true that we need to encourage more Luxembourgers to opt for careers in the private sector, to work their way up to management positions in order to inﬂuence all those companies that form Luxembourg’s corporate family. ONLINE: the Luxembourg chief of Brazil’s second largest bank talks about increasing ties between the two countries: Delano.lu/news/very-businessoriented-and-proactive

November 2011 - delano - 37

Business

FROM THE WEB: DEXIA BREAKUP

Sports

Julien Becker (archives)

The sTaTe of The game

UEFA’s new ﬁnancial fair play regulations are what Stephen Morrow calls “a fairly blunt instrument” in the ﬁght to prevent what many fans see as unfair competition in football.

Weighed down by the European sovereign debt crisis, Dexia is being forced to sell proﬁtable divisions--including all of its businesses in the Grand Duchy-as part of a bailout by the Belgian, French and Luxembourg governments. 27 Sept The ratings agency Fitch downgraded Dexia’s “viability rating” from BB to B+

4 Oct Dexia Asset Management and Dexia BIL are to be sold

Delano.lu/news/dexia-sell-confirmed

6 Oct Qatar’s state investment fund is negotiating to acquire Dexia BIL from the troubled Dexia group

Delano.lu/news/qataris-buy-bilreports-say

7 Oct Royal Bank of Canada could take a 100 percent stake in its Luxembourgbased global custody joint venture if it can acquire Dexia Asset Management in the same deal Delano.lu/news/rbc-may-want-twodexia-units

10 Oct Dexia Group’s board of directors voted to accept the Belgian, French and Luxembourg state rescue programme

Delano.lu/news/dexia-s-boardaccepts-bailout-plan

10 Oct Investors from Qatar are taking over Luxembourg’s KBL Private Bank, while Qatar’s state investment fund is buying BIL

Delano.lu/news/qataris-buy-bil-and-kbl

38 - delano - November 2011

Olivier Minaire

Delano.lu/news/agency-knocksbanks-parent

The head of the School of Sport at the University of Sterling was emphatic in his conclusion about UEFA’s efforts to impose regulations that will ensure ﬁnancial fairy play and thus increase competition. “It is using a fairly blunt instrument and it is difﬁcult to see how it will actually be implemented.” Addressing the Association of British and Irish Accountants in Luxembourg, Morrow explained that the European football authority sees the regulations as transforming football in collaboration with the clubs, not about penalties being imposed on them. “UEFA is very good at talking partnerships,” says Morrow. However, he pointed out that, to his surprise, UEFA’s Financial Control Panel will have no investigative powers. “This is a very passive role; the big clubs seem remarkably relaxed about the new regulations.” No wonder, because according to Morrow’s exposition, there are plenty of ways clubs can use “creative accounting”

stephen Morrow: UEFA regulations look intimidating but big clubs are relaxed and think they can ﬁnd a way to get round them

to get around UEFA’s rule that they must break even (within “acceptable deviations” of as much as 45 million euro) by the 2013-14 season. The ﬁnancial fair play regulations might even further encourage the so-called “big” clubs of Europe to form a breakaway league free from such restraints. Because some clubs are clearly not living within their means and show little desire to do so--Manchester City, for example, spends 107 percent of its turnover on players’ wages. But UEFA has to do something to encourage clubs to operate on the basis of their own revenues as it is highly concerned that some clubs may in the future cease to operate mid-season, leaving leagues in disarray. Morrow had one telling statistic to underline that premise--one in eight football club auditors has expressed uncertainty over whether the club could continue as a DR going concern.

business

Exclusive

NETwoRk EffEcT

After a six month internal review, HSBC Luxembourg reveals its four-year strategy exclusively to Delano. Text: Aaron Grunwald — Photo: Olivier Minaire

“It’s very exciting: it’s all about growth,” Nigel Fielding, head of HSBC Luxembourg, says of the bank’s new fouryear strategy. His optimism comes despite HSBC Group’s CEO announcing a multi-billion dollar cost-savings target and the sale of retail businesses in Europe and North America. “Current market conditions are very difﬁcult, we all know that.” However the bank’s Grand Duchy business is not impacted, Fielding stresses. In fact, “the Luxembourg market is going to outpace a number of other markets” and over the coming years Fielding expects to hire “somewhere in the region of 100 people” if all goes according to plan. The bank plans to boost its presence in the fund administration sector. “We’ve been a very signiﬁcant player, over ten percent marketshare in alternative and special funds, but we haven’t really been a major player in the larger scale retail UCITS space. We absolutely must enter that market in a meaningful way.” HSBC will launch a new transfer agency technology platform in about six months. “We have [a large global] client who’s very, very interested in coming to us as soon as we have that capability in place.” He explains: “It’s really a compelling story because the group is a very, very strong group, and it’s very, very present in the faster growing markets in the world. So there’s a natural gravity. If you’re a fund manager and you’re looking for an administrator, there’s a certain resonance with the HSBC name.” Fielding hopes to triple the bank’s current one percent marketshare in the space, which would mean

niGeL fieLDinG: HSBC Luxembourg will grow in the corporate, funds and wealth sectors

handling about 100 billion US dollars in large scale retail UCITS assets. The bank also plans to move more into the high and ultra high net worth space, meaning clients with at least ﬁve million dollars in assets. Luxembourg has a number of investment structures “which really work well at the high end of the market” that HSBC can use to court customers, and not only in its historic Asian and Latin American strongholds. “I think where we’ve been a little shy is in marketing into the EU,” Fielding admits. “If you go back ﬁve years or more, quite a lot of that business went into Switzerland. But things have changed in that space and Luxembourg is much better

placed in terms of its EU market passport.” This effort might be hampered by the reported theft of client data, which German prosecutors will allegedly use to investigate suspected tax evaders. The bank has no comment on the matter. ASIAN STRENGTH In the corporate space, the bank will step up efforts in international payments, cash management and treasury service. Fielding is promoting Luxembourg offerings within the company and has already garnered new internal referrals. “Given our network in Asia and our relationships and strength in Asia, that’s really, really exciting for us.”

November 2011 - DeLano - 39

tHink local: ELEONORA CORSETTI

Brazilian

“LUXEMBOURG IS LIKE A TRAP”

Resident in Luxembourg for 18 years, Eleonora Corsetti gives her insight into living and working in the Grand Duchy.

eleonora corsetti: life is too easy in the gilded cage

Interview: Aaron Grunwald — Photo: David Laurent/Wide

Eleonora Corsetti runs Image & Style in Kirchberg. Originally from Rio de Janeiro, she moved to Luxembourg with her husband in 1993. Corsetti continued working in the banking sector until launching a new career as an image consultant in 2004.

EC: It is so much more sophisticated in Brazil. Products, technology, it was like being light years [ahead]. That was bizarre. On the other hand, I was sitting next to people who spoke six languages, really [well], from countries all over Europe and over the world. You won’t ﬁnd that in Brazil. AG: What about work habits? People here have the tendency to drop their pen at ﬁve o’clock in the afternoon, which absolutely does not happen in my country. Here people are much more concerned about all their rights, if they’re being paid the extra hours, if there are any extra hours. In Brazil people think ‘if I work extra hours, I’m gonna get a promotion.’ People here are just working to keep their jobs. AG: Is it funny to see that Brazil is now the ‘hot’ country? EC: We Brazilians always knew that Brazil has everything, literally everything. It is rich in minerals, richness coming from the soil, we don’t even depend on oil, then we have the forest and the water. We have so much of everything. There’s still this underlying problem that will probably be there forever, corruption. This is unfortunately accepted as something that is part of our culture. That is probably the one reason I won’t be going back so soon--I will, eventually, but not too soon--because it makes us sad.

AG: What has kept you in the Grand Duchy all these years? EC: Luxembourg is like a trap, a gilded cage. The moment you come, you always think, ‘I’m going to leave in three years.’ Or maybe two years, like we thought. Everyone does. But then it is just so easy to live here. Actually, the quality of life here is so fantastic that you stay. The moment you have kids, that’s when you’re sure that you’re not going to be leaving any time soon. It’s so peaceful and safe for the kids that you stay. AG: Any regrets? EC: The thing that I did which was a mistake is that I waited 14 years to buy a house here. That was a huge mistake! I paid the price for it. Because it is a trap, and you actually don’t think you’re staying, you think ‘everything is so expensive,’ but prices only go up. I would recommend to people that if they are here for at least a year, they should start looking for a house or apartment to buy. AG: What is the biggest difference you see between the ﬁnancial sector in Brazil and Luxembourg?

40 - delano - November 2011

AG: What is your take on the cultural scene? EC: Luxembourg lacks, in my view, everything related to the arts. This made it difﬁcult for me when I came here. No dance company, no symphonic orchestra, so I had to go out and look for everything in the nearby big cities. The artistic scenario here is quite poor, although it’s gotten better. AG: What advice would you give newcomers? EC: First thing I would say is to learn a language, not the language. Meaning they don’t need to learn Luxembourgish. They need to learn either French or German. Because, unfortunately, not only is the Luxembourgish language useless outside of Luxembourg. But then Luxembourgers themselves don’t make it much easier for us to want to learn Luxembourgish, because they speak every other language! If they’re newlyweds, I would say the only way to survive in Luxembourg is go out and travel as much as you can on weekends, otherwise it’s quite depressing. Because there’s nothing for young couples here. Nothing. Apart from cinema, eating out at restaurants, deciding when you’re going to have your babies. Because they give you money for that, which is fantastic. That is what saved us: we went out and travelled a lot--a lot--before we had our kids.

newStrassen in

275, route dâ&#x20AC;&#x2122;Arlon - L-8011Strassen

tel. 27 39 74 7787

: ber day nes ecem ine d e D of w ry W th of ur eve the 28 a glass shi Ho u l unti e have appy S to 7 pm com g the H from 5 n duri offered i h s su

UNDERSTANDING LUXEMBOURG: CURRENT AFFAIRS, BUSINESS, LIFESTYLE, CULTURE www.delano.lu

Business

The events planner

ON THE HORIZON

Delano presents a guide to the next three months of business, social and informational events for Luxembourg’s international community. Events are listed by organiser. Advance registration or fees may be required, so consult the website indicated for full details. All events are held in English unless otherwise noted.

BRITISH CARS

ALFI

BUSINESS MENTORING

www.bscoc.org

www.alfi.lu

www.businessmentoring.lu

15 •

NICOLAS SCHMIT

A networking evening with the labour and immigration minister, which AMCHAM promises will be “one of the highlight events of the year.”

Dec

26-27

ALTERNATIVE FUNDS

Conference on alternative investment industry trends, including the AIFMD (see article, pages 3234). Speakers include the CSSF’s Jean-Marc Goy.

• Nov

Hotel Meliá, Luxembourg-Kirchberg, 18:30

AWCL

Conference Centre, Luxembourg-Kirchberg, all day

13 •

MANCO’S

The fourth instalment of the Leading Edge conference series covDec ers identifying and addressing the newest requirements for Luxembourg management companies.

RBC Dexia building, Esch, all day

AMCHAM

• Dec

Sofitel, Luxembourg-Kirchberg, 19:00

LAST ABAL

The ﬁnal American Business Association of Luxembourg luncheon of 2011 features guest speaker Melanie Robert, head of HR at Bank of New York.

• Dec

Conterstuff, Contern, 20:00

BRITISH CHAMBER www.bcc.lu

19 •

The AWCL clubhouse, Luxembourg-Belair, 19:00 until late

BANGLADESH CHAMBER www.banglachamber.org

29 •

LOOK EAST

The chamber partners with the Embassy of Bangladesh in BrusNov sels, the Luxembourg Chamber of Commerce and HSBC Luxembourg to present the “Emerging Bangladesh” seminar.

Chamber of Commerce, Luxembourg-Kirchberg, 09:30-13:00

Sofitel, Luxembourg-Kirchberg, 12:00

MENTEES DAY

The 2nd cycle of the Chamber of Commerce’s programme ofﬁcially Nov gets underway. Meet the newly selected entrepreneurs and the mentors who will support them.

Chamber of Commerce, Luxembourg-Kirchberg, 18:30-20:15

CANADIAN CLUB

6•

jaN

“Join your gal pals for an evening at the clubhouse. Admission is an appetizer or beverage to share.”

17 •

www.canadiansinlux.com

Dec

LADIES NIGHT

TURKEY DAY

AMCHAM hosts its annual traditional American Thanksgiving Nov dinner on this Tuesday. There will be musical entertainment and tombola prizes.

Luxembourg’s only British car club meets the ﬁrst Friday of the month to cover everything “from Mini to Aston Martin,” both classic and modern. Non-members welcome.

• Dec

www.awcluxembourg.com

www.amcham.lu

22 •

COOL WHEELS

25 •

DEDUCTABLE LUNCH?

This British Chamber lunch on personal features personal inNov come tax advisor Karl Horsburgh of the HT Group.

WINTER DRIVING

Advanced training in driving in hazardous conditions. Put theory into practice in the training facility’s new BMWs, Land Rovers and Minis. Limited to 40 drivers.

Dec

DLWI

www.dlwi.lu

1•

CHRISTMAS LUNCH

Apéritifs followed by a traditional Christmas three-course meal. British ambassador Alice Walpole (see Snapshots, page 29) is the guest of honour.

Dec

Hemicycle, Luxembourg-Kirchberg, 12:00

FIRST BIRTHDAY

Members’ assembly and year-end celebration to mark the GermanDec Luxembourg Economic Initiative’s ﬁrst year in operation. English friendly.

MB Café, Luxembourg-Hollerich, 19:00

EUMA

Centre de Formation pour Conducteurs (next to Goodyear), Colmar-Berg, all day

16 •

Luxembourg’s Canadian community catches-up the ﬁrst Tuesday of the month.

Art Cafe, Luxembourg-centre, 10:30-12:30

Doubletree by Hilton, LuxembourgDommeldange, 12:00

8•

COFFEE MORNING

www.euma.lu

17 •

DE-STRESS

The professional network for management assistants in busijaN ness and ﬁnance holds a seminar with Yog’attitude on stress management through yoga.

Hotel NH Luxembourg, Senningen, 18:30

The next edition of Delano will feature events starting from December 15 through the February 17. We invite you to submit your events by sending an email no later than November 18 to: news@delano.lu.

42 - delano - November 2011

Business

FEMALE CHIEFS www.ffcel.lu

Party games, buffet and gifts from Santa… a perfect holiday event for families with young kids. Non-smoking event, space is limited.

Dec

www.jcluxembourg.com

14 •

Dec

FuBar, Luxembourg-Clausen, 15:00-17:00

11 • jaN

club.paperjam.lu

MONTHLY MEETING

DîNER DE NOëL

1•

The six-year old Fédération des femmes cheffes d’entreprise du Dec Luxembourg, for women who are bosses, holds its annual holiday event.

The JCI promotes citizenship and entrepreneurship for 18-40 year olds. To register for meetings, contact: info@jcluxembourg.com.

Venues to be announced, 19:30

THE NETWORK

Venue to be announced, 19:00

FIRST TUESDAY www.firsttuesday.lu

16 •

PAY ON THE GO?

The tech networking club and E&Y present a seminar on the future of mobile payment networks, followed by a networking cocktail. Speakers include Tango CEO Didier Rouma.

Nov

Ernst & Young Luxembourg, Munsbach, 18:30

INT’L CHAMBERS

www.amcham.lu or www.bcc.lu

www.the-network.lu

16 •

BEYOND FINANCE

Luxembourg for Business secretary general Carole Tompers speaks Nov about the Grand Duchy’s image abroad and the country’s international business promotion programme.

Sofitel, Luxembourg-Kirchberg, 19:30

7•

Cafetin de Buenos Aires, Luxembourg-centre, 19:30

NOBELUX www.nobelux.lu

6•

THE BIG DINNER

The always anticipated annual rendez-vous is organised by Luxembourg’s international chambers. This year’s special guest of honour is Crown Prince Guillaume.

• Nov

Conference Centre, Luxembourg-Kirchberg, 17:00

jaN

Trombar, Luxembourg-Clausen, 18:30

12 •

VC OUTLOOK

Julie Meyer has been a leading media and technology venture jaN capitalist for more than 20 years. She talks about championing entrepreneurship in Europe at this luncheon.

Venue to be announced, 12:00-14:00

RED CROSS www.croix-rouge.lu

13 •

RED CROSS BAZAAR

Fundraiser for youth activities will feature traditional food, drink and gift stands, music and dance performances, and a visit by Saint Nicolas.

Nov

Halle Victor Hugo, Luxembourg-Limpertsberg, 10:00-18:00

ROSES

www.rose.lu

www.scottishdancing.lu

26 •

The Luxembourg Scottish Country Dance Club will hold a dance in honour of Scotland’s patron saint, followed by a buffet reception.

Nov

Steinmetz restaurant, Bech, 19:00

TOASTMASTERS district59.eu

• Nov

www.oxford.lu

25 •

BOOGIE NIGHTS

The Luxembourg Rose of Tralee hosts its annual 70s/80s disco fundraiser, for those interested in following, or following in, the footsteps of Aisling McInnery (photo).

Nov

Former head of the European Investment Bank and now author Sir Brian Unwin discusses his book Nov on Napoleon’s ﬁnal years on St. Helena. Reservations: dunnett@pt.lu.

• Dec

• jaN

GREENHEARTS

Public speaking group Greenheart Toastmasters Club meets two Mondays each month. No requirement to be a native Anglophone.

Chamber of Commerce, Luxembourg-Kirchberg, 19:30

• Nov

• Dec

• jaN

CASEMATES

Public speaking group Casemates Communicators Toastmasters Club meets two Tuesdays each month.

Chambre des Salariés, Luxembourg-Merl, 19:30

26 •

Cercle Munster Luxembourg, LuxembourgGrund, 18:30

UNIV. OF LUX.

SCOTTISH ASSOC. www.albaluxembourg.lu

INSPIRING WO-MEN

Dinner featuring inspiring women and men from around the Greater jaN Region who help make workplace “more responsible, respectful, efﬁcient and harmonious.”

Black Stuff, Luxembourg-Pulvermühle, 20:00

23 •

• Dec

www.women-leaders.eu

OXFORD SOCIETY

TERRIBLE EXILE

ST. ANDREW’S

WOMEN LEADERS

Hotel Le Royal, Luxembourg-centre, 18:30

MEET EXPATS

Learn more about the expat social networking group’s monthly get-togethers on the Delano website: delano.lu/news/internations-fetes-turks

Nov

Abbaye de Neumünster, Luxembourg-Grund, 08:30-13:00

The Grand Duchy’s branch of the Nordic Countries-Belgium-LuxemDec bourg Chamber of Commerce holds its Christmas dinner.

www.internations.org/luxembourg-expats

12 •

These days we’re reading more text in less time. This seminar explains how to read and understand not only quicker, but also better. Space is limited.

MEMBERS JULBORD

INTERNATIONS

24 •

SCOTTISH DANCE

SUPER SPEED READING

• Nov

INT’L CHRISTMAS

The Network--an English speaking professional women’s organiDec sation--hosts its annual Christmas dinner and charity fundraising event.

VC OUTLOOK

3•

JUNIOR CHAMBER

wwwen.uni.lu

25 •

AUDIT THIS

Conference examines audit quality in Europe in the wake of the Nov ﬁnancial crisis and stepped-up regulatory environment. Followed by a networking cocktail.

Cercle Munster, Luxembourg-Grund, 18:30

Chamber of Commerce, Luxembourg-Kirchberg, all day event

25 •

Nov

ST ANDREW’S

A reception to mark Scotland’s national holiday.

Official residence of the British ambassador (photo), 19:00-21:00

November 2011 - delano - 43

cover story

Fred Baus

“You have to be proactive and just do it” Fred Baus has given up his role as music programmer at d:qliq to focus on music and ﬁlm production collective This Is Radar.

Text: Duncan Robert — Photos: David Laurent/Wide

Fred Baus: launch will show how fresh Radar is

In early October the enigmatic Fred Baus bade an official farewell to the music bar and live concert venue that he opened with Manu da Costa in 2006. Next to the irrepressible Manu, Fred always seemed like the quiet one. Yet it was Fred who was responsible for putting d:qliq--and thus Luxembourg--ﬁrmly on the alternative music scene map. He was proud that d:qliq was compared by one act’s manager to famous Parisian venue Flèche d’Or, and that he managed to get acts such as Pony Pony Run Run or Get Well Soon to play the tiny upstairs concert space well before they became indie media darlings. What he liked about the venue was that it attracted real music fans who were keen to discover something new. “I prefer to have just 50 people who want to hear the band than 100 people with nobody paying attention,” he said back in 2010.

From the preparation throughout much of 2005, Fred had spent close to six years working on the d:qliq project. “I met some great people and it was a great experience. I am always someone who likes to push things--I am not a fan of people who cling to their past achievements. So I don’t regret anything, it is time to move on. That’s part of life, you have to accept that new things come along.” The problem was that the venue had limited growth potential (“you can’t expand the concert space, you can’t earn more money” ) and Fred has now started a family. He has two young children and is pleased to have his weekends and evenings back. We speak just before his official leaving party, and he admits that it may be an emotional night (later he posted on Facebook that the party was his best night ever). “To continue would have just been to carry on repeating things. But I think d:qliq was the best

preparation possible for Radar. Then again, Radar may be just another stage for what happens next.” This Is Radar is the collective Fred will officially launch along with four partners in late November. The project was initially instigated by DJ and film director Ben Andrews and filmmaker Fred Neuen. When they joined Fred Baus and fellow producer Tim Lecomte (alongside hip-hop MCs Corbi and David Fluit from De Läb) on the Brach project to the Luxembourg pavilion at the World Expo in Shanghai, the idea came about to join forces. “It was there that we realised we could really work together,” says Fred. “Radar is Brach without the MCs and with the suit.” The suit is Patrick Wilwert, a graduate in music business from New York University, a former press officer for the Philharmonie and currently a partner in an accounting firm.

November 2011 - delano - 45

cover story

Fred neuen: has a number of completed feature ﬁlm scripts

tim lecomte: says selected talent will give Radar a certain “differentness”

Fred Baus believes that the five members together are more than the sum of their parts. “Everyone has expertise in a different area, but also has knowledge of other fields--so it is easy to understand what each other is talking about.” true collective It works as a true collective just as Ben and Fred Neuen originally envisaged. “There is a legacy that Ben and Fred Neuen created with Radar, and we will always recognise that,” says Fred Baus. But Tim says that Fred Baus has also always worked in a similar way. Grand Duchy Grooves (his first label and promotion project), d:qliq, and Songs for Ben (another music management label) were “all ways of getting some sort of community going, and for the large part they succeeded.” A catalyst for Fred’s “community” approach came when he was inspired by some of the visuals The Cornelius Project made for the first Terre Rouge

46 - delano - November 2011

festival in 2001. “I got talking to them afterwards and they taught me that if you put the right people together, you can really achieve things. You have to be proactive and just do it.” Radar’s music production arm can handle anything from scoring movies and music consultancy--“people tell us what sort of music they need and we find it and clear all the rights”--to music supervision. Fred has the impression, much to his surprise, that music is often a low priority in making a film. “But it is important. We want to create a more professional approach and take advantage of the expertise we have gathered over the past few years.” Fred even thinks he can use the contacts he made at d:qliq to his advantage. “I have seen that there is a lot of great music out there by small acts that don’t cost much that could be used in films. We want to get film makers away from the idea that they need Coldplay in their

movie.” “It’s not that they don’t need it, they shouldn’t have it,” interjects Tim. Radar even has ambitions to create sound effects and produce Foley for films. Indeed, Ben Andrews is becoming more and more interested in sound design and the power of ambient sound in films--he cites Lars von Trier’s Antichrist as a great example. The film arm has so far been focused on short films, commercials and music videos, although Fred Neuen has completed some feature film scripts.

there is nothing as precious as experience” Fred Baus

cover story

Ben andreWs: becoming more and more interested in the power of ambient sound Patrick WilWert: “the suit” and music business graduate

But feature ﬁlms are a “ long-term ambition,” says Fred Baus. One of the ways the new company wants to distinguish itself is by making projects that it truly believes in and also by targeting international distribution. Tim Lecomte says that the lack of distribution for ﬁlms made in Luxembourg is what bothers him most about the current system. “We believe that in the current situation Luxembourg seems to push quantity instead of quality or originality that could be sustained at an international level... This is an area that Radar would like to try to explore.” differentness Fred Baus concurs. “With Radar we want good distribution so that other people can see the result.” But Fred and Tim insist that Radar is not getting ahead of itself and is taking it one step at a time. “First we have to gain a foothold in the Luxembourg market. But, as I saw with d:qliq, if you do something fresh and

different there is little chance that it won’t work unless you are stupid or really screw it up.” Radar also wants to build up a network of quality creative and technical people that they could call on for different projects where appropriate. Tim is convinced that such a talent pool exists in Luxembourg. “Over the years we have already sifted out those people in various disciplines that we feel are on the right level and that we can work with. I think this will give us a certain ‘ differentness’.” Differentness is something that Fred seems to have strived for ever since he left university and decided to work in the music industry. His parents were somewhat sceptical when their son opened d:qliq, and asked whether he wouldn’t prefer doing something serious. They weren’t the only ones who didn’t take his career choice earnestly. “Music is still very young in Luxembourg, there is no real industry and artists don’t

know how to behave, to further their career. The only people taken seriously here are those who study classical or jazz music.” But Fred is optimistic and says that a start is being made by structures like Music LX, the non-proﬁt organisation established in 2009 and funded by Sacem and the ministry of culture to help promote and develop Luxembourg music. And, in the meantime, his parents have also accepted what he is doing. “But only because I did the music for the Green Party’s election campaign website.” Then again, his parents were not exactly big music fans. Fred grew up listening to the only two cassette tapes they owned--Abba and Jeff Wayne’s War of the Worlds. Like any healthy teenager, he went through several phases of musical taste before alighting on Massive Attack and Prodigy, who made him realise that you don’t need guitars to make a great sound. But Fred really started discovering music when he went

November 2011 - delano - 47

cover story

BeautiFul images: from Ben Andrews’ Summer Shadows

trailer trash: a still from Fred Neuen’s Bikini Blitzkrieg (in association with re:media)

to study in Brussels, renting albums from the university’s mediathèque. “They had every style of music and I discovered Boards of Canada, which for me was amazing. They managed to encompass all the styles of music I previously liked. After that I just became curious, I guess. And even now I try to listen to as much music as possible--just to try and understand why people like some music because sometimes I get it and sometimes I don’t. James Blake, for example, for me was the victory of good taste in the mainstream.” experience Fred had started studying journalism, but then switched to communication-“whatever that is”--and was lucky enough to land an internship at Bang!, the Belgian label and distributor that discovered dEUS. “I have a diploma, but it’s just a piece of paper,” he says, again underlying his conviction that expe-

48 - delano - November 2011

rience is everything. Indeed, he dreams of having a large house in which artists--and not just recording artists-can work on their individual projects, but could also cross-over and work with each other and exchange ideas if they have complementary skills and experience. “So everyone can proﬁt from experience, because there is nothing as precious as experience.” Radar will be launched on November 28 with a showcase event at Exit07 with two premiers--Fred Neuen has made a trailer to a film that does not yet exist (like the Machete trailer in the original Grindhouse project) and Ben Andrews has also made a short film that highlights his talent for beautiful images. “When we screen the two ﬁlms, people will really understand what we mean by saying we are fresh and new. And the launch is on a Monday, which shows how fresh we are,” adds Fred with a smile.

Looking for an original christmas gift? Thanks to our “ciné chèque”, you will offer laughs, shivers, adventure and so much more… The “ciné chèque”, an original gift that will please anyone !

Find out more on: www.utopolis.lu or www.utopolis.fr www.utopolis.lu

www.utopolis.lu www

www.utopolis.fr

29 november 2011 À l’Atelier Concert

rodrigo y gabriela

Send an email mentioning “den Atelier/rodrigo y gAbrielA” to contest@delano.lu deadline for entries is 22 november 2011 Winners will be notified by email

Win rt ce c o nk e t s ! c ti

NETWORKING

Indian Business Chamber of Luxembourg

TWO-WAY STREET

Olivier Minaire

At a time when the spotlight on the world’s largest democracy is brightening, the group is keeping both European and Indian interests in sight.

SUDHIR KUMAR KOHLI: advocate both for India and for Luxembourg

It has been a decade since Goldman Sachs economist Jim O’Neill coined the term “BRIC,” shorthand for the emerging market powerhouses Brazil, Russia, India and China. However it was not until April 2009 that the “I” had its own economic organisation in the Grand Duchy. One evening at home, reading a magazine article about “another chamber, I just realised there was

50 - DELANO - November 2011

no Indian business chamber in Luxembourg,” recounts Sudhir Kumar Kohli, now president of the Indian Business Chamber of Luxembourg. “I spoke to one of my friends, who was at that time the honorary consul of India. He said ‘perfect’ and then there was no going back!” It was not difﬁcult to get people on board, particularly since Kohli and the other founding members had a distinct

practical inFo

Indian Business Chamber of Luxembourg 45, route d’Arlon L-8009 Strassen +352 44 59 05 contact@ibcl.lu www.ibcl.lu

NETWORKING

vision in mind: to create a bilateral chamber, with a strong emphasis on being bilateral. “We need to have people from both Europe and India,” he explains. “If we only had Indians, we would only think about India, India, India.” In contrast, “we are trying to promote Luxembourg at the same time we are trying promote India. It’s a two-way street.” Initially IBCL events were somewhat general get-togethers, but “now we’re trying to target different sectors.” So far this year, for example, the chamber has organised conferences on asset management, marketing strategies and outsourcing. IBCL even hosted a motivational speaker from ArcelorMittal’s ﬁnance academy in India. Future topics include biomedical research, medical tourism, the automotive sector, and the double-taxation treaty between India and Luxembourg that went into effect in 2010. “Since IBCL is a bilateral chamber, we do our best to get one main speaker from India, who can speak about the Indian aspects of that topic, and then we have a corresponding speaker from Luxembourg, to give the Luxembourger view.” Kohli reckons this approach is really the only way to truly understand the matter at hand. In its brief two-and-a-half years, more than 300 company and individual members have joined the IBCL. This year the chamber started offering student memberships, which cost half the normal rate. “I’m sure students want to learn about what’s going on in the business world. This gives them an opportunity to interact at the different events. For example, they can put ques-

boarD

President: Sudhir Kumar Kohli Vice President: Jim Penning Director, Marketing & Sponsorship: Pedro Castilho Director, Knowledge Management: Aditya Sharma Member: Vijay Goya

tions to the speakers.” Kohli adds: “Maybe one will be a future CEO, who knows?!” Today trade between the Republic and the Grand Duchy is primarily in ﬁnancial and IT services, textiles, and naturally, in steel and steel products. Kohli has lived in Luxembourg for more than two decades, but when he arrived most residents had limited knowledge of his homeland. “When Mittal took over a managing share of Arcelor, then people really became aware of India. So now, in fact, they are really looking to do business with India.” In fact, Kohli anticipates interest to soon rise even further, and not only because of India’s growing economic strength. He notes that the European Union and India are currently negotiating a free trade agreement, and the EU expects to conclude negotiations in 2012. “Once the FTA is signed then business will really pick up.” To capitalise on the improving state of relations, a trade mission to India--led by the Grand Duchy’s economy and foreign trade ministry and the Luxembourg chamber of commerce--is currently being planned for the spring. The IBCL plans to participate wholeheartedly. Kohli sees the delegation--like the one he went on a few years ago--as a perfect opportunity to make good on his chamber’s bilateral promise, and plans to make a robust endorsement of the Grand Duchy. “I, as an Indian, going and promoting Luxembourg in India, is an more effective than a European speaking about it. I speak from my experience, because I’ve been here, doing business in AG Luxembourg, for over 25 years.”

Member: Mario Cortolezzis Honorary Board Member: Marc Fox

regular meetings

Annual event: Diwali Bollywood Musical extravaganza and dinner in October (see Snapshots, pages 12-13)

international connections The Indian Business Chamber of Luxembourg has forged agreements with several like-minded business chambers in both India and across Europe. “The benefit of this is that all members of the IBCL are automatically members of these associated chambers,” explains Sudhir Kumar Kohli. “They can attend the events of these chambers’ events as if they were members of those chambers, and vice-versa.” The partner chambers are the: • Belgo-Indian Chamber of Commerce and Industry (Belgium) • Chamber of Commerce and Industry Franco-India (France) • Indo-EU Business Forum (UK) • Indo-European Chamber of Commerce and Industry (India) • Indo-German Chamber of Commerce (Germany) • International Merchants’ Chamber (India) There is another perk of IBCL membership: free limousine service between Luxembourg and Brussels airport when flying ﬁrst or business class on Jet Airways to and from India and North America. • AG

Monthly conferences: Sectorfocused presentations with speakers from both India and Luxembourg, following by a networking cocktail

November 2011 - DELANO - 51

lifestYle GOING NATIVE

Local events

GET WINTER TYRES

It is not yet obligatory to mount special winter tyres on your vehicle to cope with snow or icy road conditions--that law only enters into effect on October 1 next year, 2012. But road safety lobby group Sécurité routière and the ministry of transport have long advised drivers to get winter tyres mounted before the ﬁrst snow falls. Last year a snow fall in early December caused chaos on Luxembourg’s roads because many cars were illequipped to deal with the slippery conditions. In future drivers in vehicles without winter tyres can be ﬁned 49 euro if stopped by the police or 74 euro if they have caused an accident by failing to have winter tyres mounted on their vehicle.

CHRISTMAS MARKET

The annual Christmas market on the place d’Armes in Luxembourg may not be as large or downright cosy as many of theWeihnachtsmärkte in Germany, but it is still a great place to soak up some pre-festive atmosphere. Traditionally visitors get into the spirit with a cup of warming Glühwein (mulled wine) and a portion of Gromperekichelcher (those fried potato cakes make their appearance here as well as at the Schueberfouer), but a bowl of Bouneschlupp (bean soup) or a bag of hot chestnuts also does the trick. November 25 to January 1

www.acl.lu

Luxembourg is...

“PLENTY OF CULTURE, FORESTS, RIVERS, BUSINESS, SHOPPING, DINING, DANCING, WORK... BUT SOMETIMES A BIT CLAUSTROPHOBIC”

Bazar international

Cooper Tires

Olivier Minaire

THREE PRE-WINTER TRADITIONS

INTERNATIONAL BAZAAR

A highlight of the international community’s pre-Christmas social season, the International Bazaar is primarily a charity fund-raiser. The principal charity supported this year is TARGET, a project in Ethiopia that ﬁghts the practice of female genital mutilation. Four Luxembourg-based charities--Fondation Lëtzebuerger Kannerdorf in Mersch; Zesummen Aktiv--ZAK in Luxembourg; Fondation (EME) Ecouter pour mieux s’entendre; ALAPS--Ass. Special Olympics Luxembourg --will also receive a share of the receipts. Staged over the weekend before Saint Nicholas’ Day, the Bazaar features some 60 stands that sell all manner of items and food and drink particular to their country. Which means visitors can take away some original gifts and partake in a culinary journey around the world. The Bazaar Book Stand, with a wealth of second-hand books ranging from crime ﬁction to weighty biography and children’s books, also draws a healthy crowd. November 26 & 27, Luxexpo, LuxembourgKirchberg, www.bazar-international.lu

corinne caHen: president, Union Commerciale de la Ville de Luxembourg

CLUB LIFE

Highlights from the directory of local associations found on Delano.lu.

52 - delano - November 2011

CULTURE

NETWORKING

The Indian Association of Luxembourg promotes India’s rich heritage and marked its 20 th anniversary this year (see Snapshots, pages 12-13).

The Chinese-Luxembourg Chamber of Commerce strives to develop closer economic, trade and cultural ties between China, Luxembourg and Europe.

INDIAN ASSOC.

Follow on Facebook

CHINALUX

chinalux@fidroyal.lu

GOING NATIVE lifestYle

People in the news

THE CRUCIAL THREE

THE KNOWLEDGE HOW TO... BECOME A ROSE

The director of the Centre national de la littérature (CNL) in Mersch was awarded the Lëtzebuerger Bicherpräis 2011, the second such annual honour bestowed by the ultimomondo publishing house. A member of the Institut grand-ducal and a “membre correspondant” of the Académie nationale de Metz, Goetzinger was a teacher before being nominated to the CNL post in 1995. She has conducted research into Luxembourg and German literature and has written several books. The award was given for Gotezinger’s “central role in the Luxembourg literary world, and her notable research and scientiﬁc analysis.” The award is a ceramic statue made by artist Klaudia Kampa.

Luc Deﬂorenne

cornichong

GERMAINE GOETZINGER

www.umo.lu

HANDS SOLO

Philippe Godart may not be that well known in his native Luxembourg, even under his DJ name of Hands Solo (an homage to Star Wars), but that changed at the beginning of October when he won the Best Black Music and Partytunes DJ prize at the Swiss Nightlife Awards. The 31-year old is one of Switzerland’s most sought-after open format DJs, and his mixing of hip hop, house, disco, pop & soul has seen him in demand all over the world--though he has yet to play Luxembourg. handssolo.net

www.handssolo.net

The Luxembourg entry for the annual Rose of Tralee festival is chosen at the annual Rose Ball, which for next year’s event takes place on March 10. To enter as a candidate, you must: 1 Be female between the ages of 18 and 28 (on September 1, 2012) 2 Currently reside in Luxembourg or have grown up here (if you are studying or working abroad) 3 Have no dependents 4 Be available to go to Ireland from May 30 to June 3, 2012 to take part in the qualifying round, and, if successful, from August 17 to 21, 2012. 5 Enter by November 15 by contacting the Luxembourg Rose of Tralee committee on tel. 621 379 195 or by email: luxembourgrose@yahoo.com www.rose.lu

JAN SCHNEIDEWIND

Bocuse d’Or Luxembourg

The head chef at the Restaurant Windsor in Bertrange will represent Luxembourg at the Bocuse d’Or 2012 Europe. In the Luxembourg final Schneidewind, 45, placed ahead of Joël Schaeffer (from the restaurant that bears his name in Mertert) and Romain Beaumet (from the Kulturfabrik’s Brasserie K116 in Esch-sur-Alzette). He will now try to qualify for the 2013 Bocuse d’Or final in Lyon via the European final in Brussels next March. Schneidewind, originally from Münster in Germany, has been a familiar face on the local fine dining circuit since arriving to work at Le Sabayon in Esch-sur-Alzette in 1991. He had his own restaurant in the city centre in 1995 and later opened the Jan Schneidewind annex at the Mercedes Café. He opened the Windsor in 2008 after first setting up his own delicatessen and catering service. www.bocuse-d-or.lu

EXPATS

EDUCATION

SOCIAL

InterNations Luxembourg is an expatriate community for people living and working in the Grand Duchy as well as all “global minds”.

The group provides networking and development activities for students of and those interested in information and communication sciences.

The Scottish Association of Luxembourg promotes “all things Scottish” and raises money for worthy causes. Open to all nationalities.

INTERNATIONS

www.internations.org/luxembourg-expats

AMDDS

www.amdds.eu

SCOTTISH ASSOC.

www.albaluxembourg.lu

November 2011 - delano - 53

lifestYle

Nightlife

PLUS ÇA CHANGE… Luxembourg’s bar scene has changed drastically over the last 15 years, offering everything from quite corners in which to play board games to crowded live music nights.

Text: Duncan Roberts — Photos: David Laurent/Wide

In 1997, when Luxembourg held the presidency of the council of the European Union, a BBC reporter standing outside the Foires Internationales de Luxembourg building (now Luxexpo) that was hosting a crucial round of lastminute talks was asked by his colleague in the London studio what he was going to do that night. His reply was that he would go back to his hotel because Luxembourg’s nightlife was not up to much. On page 40 of this issue of Delano, Eleonara Corsetti seems to imply the same blinkered view. If it was not true back in 1997, it is certainly not true now that Luxembourg suffers a dearth of opportunities. Indeed, while 14 years ago Luxembourg was far from boring, now its bars offer great variety to anyone going out for a drink, dinner or dance. Back then venues such as The Pyg (www.thepyg.lu), Britannia, White Rose and The Black Stuff (www.blackstuff.lu) provided English speaking expats and locals seeking an atmosphere that was something different from their local “stuff ” with a place to meet regulars, chat over a few pints and watch premier league football and other televised sports. All still exist to this day and have been joined by the likes of Fubar (www.fubar.lu). Apart from Marx there were few alternatives in 1997. The Playground was perhaps the only truly different English-speaking bar, in a venue now occupied by The Tube (www.thetube.lu), which offers pretty much the same atmosphere albeit to a decidedly younger crowd.

54 - delano - November 2011

Nowadays, though, a slew of bars that offer an alternative ambience, interactive and live entertainment have sprung up to follow in the footsteps of The Playground. The Elevator succeeded The Playground in a different location and became legendary for its dance nights. A few changes of name later, the Hollerich venue is once again cooking up a storm as Soul Kitchen (www.soulkitchen.lu). Urban (www.urban.lu), opened by the Hickey brothers in 2003, was also something of a trailblazer with its designer interior, live DJ and focus on food and generous glasses of wine at lunchtimes. But the screening of live sports--as witnessed by the huge crowds attracted during last month’s Rugby world cup-remains a mainstay of many bars. Head to downtown Hollerich and things are slightly different at Decibel and The Lab (follow both on Facebook), which share a courtyard buzz-

Decibel

ing with ﬂirtatious chatter in summer. The Lab hosts some great DJ nights, while Decibel is a real music fan’s bar thanks to the encyclopaedic knowledge of manager Gareth O’Neil. Fred Baus attracted his share of music geeks to d:qliq (www.dqliq.com), especially for its legendary Blind Test nights, and even in his absence it remains a musicdriven venue. Newcomer Rocas (www. rocas.lu) is also successfully employing the music-based formula with live concerts and DJs (and a blind test). And the even newer Side Bar (follow on Facebook) is evidence that the nightlife scene is constantly shifting. Down in the controversial Rives de Clausen, the masses gather for afterwork drinks, dinner and DJ parties late into the night. It is the size of the place and some of the yuppies who hang out there that has divided opinion--locals are already referring to some of its ven-

lifestYle

Brauerei – Big Beer Company

Luc Deﬂorenne

The Lab

ues as meat markets where picking up a member of the opposite sex is the sole goal of the night out. But some venues are worth visiting and the latest venture to open in the complex, the BrauereiBig Beer Company (www.bigbeercompany.lu), can be good fun with the right crowd of people if you enjoy an après-ski atmosphere. For a more relaxed night out, Ture Hedberg (who opened the Playground) has recently changed Konrad (on Facebook) into a café-bar aimed at a more chilled out crowd with board games, quizzes, comedy and live music. Exit07 (www. rotondes.lu), the live music venue in Hollerich’s CarréRotondes culture complex, also opens its doors as a bar on Thursdays for its Jeudiscover evenings at which punters can view an exhibition and meet like-minded culture vultures. And you will meet more of the same people at the regular Wednesday evening events held at Mudam (www.mudam.lu), the modern art museum on the Kirchberg.

Black Stuff

The Pyg

November 2011 - delano - 55

LIFESTYLE

Eleven live performances to watch

ON STAGE SMASHING PUMPKINS

BILLY THE FISH

Transport

Billy Corgan and cohorts celebrate the release of new album Oceania, with a return to Luxembourg after a triumphant 2007 show at den Atelier. This time the band is booked into the Rockhal, though still promoted by den Atelier, as it pursues its ambitious Teargarden by Kaleidyscope project. Expect tracks from that release plus old favourites. November 29, Rockhal, Esch-Belval, www.atelier.lu

INVISIBLE

THE IMMIGRATION QUESTION Described by WhatsOnStage as “an innovative fusion of new writing, visual theatre and movement”, Invisible is ˇ ´ look Croat playwright Tena Štivicic’s at migration, globalisation and identity. Douglas Rintoul, who was in Luxembourg earlier this year to direct Closer, returns to the Capucins with this production by his own Transport company. Rintoul, with choreographer Darren Johnston, directs a cast made up of British and European actors in what is an ensemble piece focusing on the lives of disparate characters, immi-

grants and middle-class executives, dreamers and ambitious workers, whose paths cross one tragic night. In a piece titled Five Reasons To See… WhatsOnStage says that the play “aims to change the way we understand what it means to be a migrant, shifting the way we perceive ourselves and others around us” by posing questions about the modern world. Jeanine Goedert provides an introduction to the play at 7:30 p.m. each night. November 29 & 30, December 1, Théâtre des Capucins, Luxembourg-centre, www.theatres.lu

RODRIGO Y GABRIELA

FLAMENCO METAL The Mexican duo returns to den Atelier following a breath-taking debut in April last year. The pair’s exhilarating bravura has seen them acclaimed as one of the best live rock acts on the circuit. The Guardian’s Caroline Sullivan wrote in a live review that the duo show “ just how raw acoustic music could be” but that they could also be “incredibly delicate.” Expect a truly unique show. November 29, den Atelier, Luxembourg-Hollerich, www.atelier.lu

56 - DELANO - November 2011 10_p56-57_lifestyle_onstage.indd 56

04.11.2011 17:31:52 Uhr

ELBOW

After years of badgering den Atelier to bring the group to Luxembourg, Elbow fans here are being treated to two shows within six months. Guy Garvey and chums played a festival length set at Rock-a-Field in June and return now to play the more intimate Hollerich venue, which seems much more suited to Elbow’s beautiful and often nostalgic songs about life in a northern town on latest album Build A Rocket Boys! Garvey is a charming front man and should be able to connect immediately with the Atelier audience. Whether the venue will be selling Build A Rocket Boys! beer is another question. November 29, den Atelier, Luxembourg-Hollerich, www.atelier.lu

Philharmonie

A SWIFT RETURN LSO/VALERY GERGIEV

FROM RUSSIA WITH LOVE

Valery Gergiev brings the London Symphony Orchestra to the Philharmonie for a very Russian programme. The acclaimed Gergiev is the director of the Mariinsky Theatre in SaintPetersburg as well as principal conductor of the LSO, with whom he has recorded the complete Prokofiev symphonies. The bill at the Philharmonie features Prokofiev’s First Symphony, Tchaikovsky’s Fifth Symphony and contemporary composer Sofia Gubaidulina’s Fachwerk for Bajan, Drums and Strings. November 21, Philharmonie, Luxembourg-Kirchberg, www.philharmonie.lu

HERMAN DUNE

One of those bands that loves to play with its identity, French outﬁt Herman Dune (now minus umlaut) was a darling act of John Peel and recorded several sessions for his Radio One show. New album Strange Moosic sees the duo play delightfully upbeat folk-pop with apparently whimsical lyrics about life and how to live it, but which are actually warm and precise about the human condition. Oh, and the band’s videos and artwork features a blue Yeti. December 9, Exit07 (CarréRotondes), Luxembourg-Hollerich, www.rotondes.lu

Robyn Orlin

DELIGHTFUL POP

VENUS…

RECOGNITION AND RESPECT

Acclaimed choreographer Robyn Orlin wowed Grand Théâtre audiences last year with Walking next to our shoes and returns now with a show based on the story of Saartjie Baartman, the “Hottentot Venus”, who was exhibited as an ethnological specimen in the 19th century. Venus... Have you hugged, kissed and respected your brown Venus today? celebrates its world premiere at the city theatre. As Gwénola David writes, “Orlin explores the obstacles to the recognition and respect of the foreign other.” November 16 & 17, Grand Théâtre, Luxembourg-Limpertsberg, www.theatres.lu Continues on page 58

November 2011 - delano - 57

lifestYle

SASCHA LEY & NATAŠA GEHL

MUSIC

THREE DAYS OF THE VAUBAN Launched as the Luxembourg City Tourist Off ice’s contribution to the city’s first reign as European Capital of Culture in 1995, Live at Vauban has previously been held over several weeks at various venues around the capital city. The new concept sees it take place over just three days on three stages in one central location, the Tramsschapp culture centre in Limpertsberg. The LCTO has lined up a total of twelve acts for the first edition of the new programme, with international headliners from Germany (Die Happy), Mali (Amadou & Mariam, photo) and the USA (Steve Lukather) topping the bill on successive nights. Local bands include Elephant Ghost, Toxic Monkeys and Vintage Gigolos for the Friday and the Tom Heck Trio, Remo Cavallini and Porn Queen on the Sunday. Saturday is given over to more international sounds with local outfit Eloïse et les Passeurs de Rêves playing its folk-pop-world music mix, RIC from France playing ragga and Faso Kymou from Burkina Faso providing support for the headliners from Mali. November 18 to 20, Tramsschapp, Luxembourg-Limpertsberg, www.liveatvauban.lu

AFTERWORK SPECIAL

Singer Sascha Ley and accordion player Nataša Gehl delve into a special musical language that spontaneously explores sounds, words and syllables. The result is an exciting performance that matches original compositions with folklore, jazz, popular and contemporary music. They perform here as part of the free monthly Round 6-CeCil’s Afterwork series that showcases local talent. November 30, Cercle Cité, Luxembourg-centre, www.cerclecite.lu ANOUSHKA SHANKAR

ON A MAGGA FLAMENCO TIP THE FAIRY QUEEN

PURCELL MAGIC Henry Purcell’s The Fairy Queen is what was called a “Restoration spectacular”. Based on Shakespeare’s A Midsummer Night’s Dream, the work was a huge success when ﬁrst performed in 1692, but was actually a lost work for some 200 years until rediscovered in 1901. It is performed here by the New London Consort orchestra and eight singers under the baton of Philip Pickett. The production also incorporates ﬁve circus performers and is staged by Mexican director Mauricio García Lozano. November 30, Philharmonie, Luxembourg-Kirchberg, www.philharmonie.lu

58 - delano - November 2011

The beautiful and talented Anoushka Shankar returns to the Philharmonie with her latest project, a recording for Deutsche Grammophon titled Traveler. Described as a “ragga ﬂamenco journey”, it is produced by noted Spanish musician, songwriter, and producer Javier Limón and features leading Indian and flamenco musicians.

November 19, Philharmonie, Luxembourg-Kirchberg, www.philharmonie.lu

Unique gifts for your loved ones.

Luxembourg – 44, Grand-Rue – 11, rue des Capucins – Tél.: 22 73 27 – www.tapishertz.lu

lifestYle ent at Bertr

real monum

ne MNHA fu

ange, ca.

30 AD

SOUS NOS PIEDS

UNDERGROUND TREASURES

Carine & Elisabeth Krecké

The National History and Art Museum is hosting a major retrospective of archaeological discoveries made in Luxembourg over the last 15 years. The exhibition includes the DNA analyses taken on the so-called Man of Loschbourg, the results of the recent excavation of the Celtic “oppidum” at Titelberg as well as later Roman settlements, the discovery in 2008 of the altar of Fortuna at Dalheim (which is currently being restored), the medieval iron forges at Peppange-Genoeserbusch and the funereal memorial of the governor of the Luxembourg Claude de Neufchâtel. But the exhibition also details the work of the archaeologist and the restorer, showing the journey an object makes from its ﬁrst discovery through to its careful excavation and restoration before being mounted for public display.

Winners of the CNA’s 2009 and 2010 creative assistance scholarships, the photographers represented at the national audiovisual centre’s latest exhibition show works that explore the notions of frontiers, movement, journeys. Some photographers went as far as Kurdistan and South Dakota (photo) to explore new places, while others stayed closer to home and examined, for example, the lot of Portuguese immigrants in the Grand Duchy.

Until September 2, 2012, Musée National d’Histoire et d’Art, Luxembourg-centre, www.mnha.public.lu

Four exhibitions to see

VISUAL ARTS

Until February 12, 2012, Centre national de l‘audiovisuel, Dudelange, www.cna.public.lu

KIOSQUE MPK

L'ART À TOUT PRIX

MADE-TO-MEASURE

From November 18 to March 5, 2012, Villa Vauban, Luxembourg-centre, www.villavauban.lu

60 - delano - November 2011

Eugène Delacroix

Christian Aschman

A COLLECTOR’S DREAM

Luxembourg-born banker Jean-PierrePescatore(17931855) bequeathed his art collection to the city of Luxembourg upon his death. Now it forms the centre-piece of a new exhibition at the Villa Vauban, complemented by works on loan from leading Paris museums such as the Musée Carnavalet, the Petit Palais, and even the Louvre. The exhibition features works by Gustave Courbet, Eugène Delacroix and Jean-François Millet.

FREMD GANG

KINGS AND QUEENS OF THE NEW FRONTIER

Over the past six years art projects especially created for display in the disused newspaper kiosk of Messageries Paul Kraus have fascinated art lovers and caught passers-by pleasantly by surprise. The 20 th made-to-measure project is a unique black and white photograph by Christian Aschman whose mise en abyme technique conjures up the history and the uncertain future of this micro-gallery. Until December 4, Kiosque MPK, place de Bruxelles/pont Adolphe

Art at Any Cost Jean-Pierre Pescatore (1793 – 1855), a bourgeois collector in Paris at the time of Louis-Philippe

18 NOV 2011 > 04 MAR 2012 Villa Vauban Musée d’Art de la Ville de Luxembourg

18, av. Émile Reuter L-2090 Luxembourg T +352 4796 4901 www.villavauban.lu

Opening hours Mon – Sun 10 a.m.– 6 p.m. Tue closed Fri 10 a.m.– 9 p.m.

lifestYle

Theatre

BUILDING A REP

Theatre director Tony Kingston’s latest venture, Opera Comique, is the perfect vehicle for the sort of repertory company he is hoping to establish in Luxembourg. Text: Duncan Roberts – Photo: David Laurent/Wide

Nagel Jackson’s Opera Comique is quite a departure from the last year’s stage adaptation of Jane Eyre by the Berlin Grundtheater. Indeed, the play, set during the premier performance of Bizet’s opera Carmen, seems to have chosen director Tony Kingston as much as the other way round. A few years ago he was looking for a piece that would fit the rough profiles of the company he had put together for a production of Agatha Christie’s Verdict. “My intention has always been to try and put together a reasonably consistent company of people who do most of the shows--in the way a repertory company would, though of course that is not possible because no two shows are the same.” Opera Comique fitted the bill and Kingston was also attracted by the way that the characters seem to be divided into two distinct sets--Bizet and his fellow artists and the more bourgeois audience. The director thought this would be ideally suited to a cast in which the French actors could play the artists and the other, more English native speakers, could play the audience. “My other agenda is to try and build a multinational company, as opposed to an entirely English native-speaking group; to use the wider pool of English-speaking talent that is out there.” Ideally, Kingston says he would like to direct another multilingual show like the 2007 production in English, French and Luxembourgish of A Midsummer Night’s Dream.

62 - delano - November 2011

tonY Kingston: using the wider pool of English-speaking talent

Opera Comique is a farce with plenty of laughs created by the machinations among the audience at the Carmen premier, but also tackles the issue of an artist who doesn’t live to see the success of his work. “As a writer himself, Jackson is clearly struck by the cruelty of the critics at the time, and as a Francophile and a fan of the Feydeau farce style, he wanted to take that form and put this layer of irony, this extra dimension, on it.” Following Jane Eyre, Kingston thought it would be an ideal, “ less heavy” production to ﬁt in with his increasingly busy schedule of theatre workshops and running shows for schools. “And, quite honestly, I just

needed to do a comedy. Even so, it is harder to work on in some respects, because it is much more technical and you have to be so much more precise, so it was also new territory for this set up of BGT.” As with Jane Eyre, the production was ﬁrst staged in Mersch at the Kulturhaus but will come to the Abbaye de Neumünster at the end of November for a ﬁve-night run. The playwright himself, who spends much of his time in Paris, will be in the audience on opening night. Opera Comique runs from November 22 to 26 at Abbaye de Neumünster. Reservations: 26 20 52-1, www.bgt.lu

Les théÂtres de La vILLe de Luxembourg

NEW YEARS EVE AT THE GRAND THÉÂTRE

A FESTIVE CELEBRATION TO CONLUDE A MONTH OF FESTIVITIES

ON THE 31 DECEMBER, ULTIMATE DAY OF THE YEAR, THE GRAND THÉÂTRE WILL DRESS TO THE NINES!

AT 7.30PM PROCEEDINGS WILL BEGIN WITH A PERFORMANCE OF CULT-DANCE COMPANY BALLETS TROCKADERO DE MONTE CARLO IN THE MAIN AUDITORIUM OF THE THEATRE; A FLAMBOYANT FIREWORK DISPLAY COMBINING CLASSICAL PRECISION WITH HILARIOUS SLAPSTICK. AFTER THE SHOW, THE TEAM OF THE BRASSERIE SCHUMAN WILL PLAY HOST IN THE FOYER OF THE THEATRE, WHERE A GLASS OF CHAMPAGNE WILL KICK OFF A DELIGHTFUL EVENING COMPRISING A SUCCULENT DINNER MENU AND FESTIVE MUSIC.

lifestYle

MOBLERDESIGNER FURNITURE BY APPOINTMENT

TransFair-Minka

Mobler

OUR FAVOURITE SHOP

It was while walking through the Bredgade Street in Copenhagen with a friend that Max Heldenstein was inspired to open a shop in Luxembourg offering great designer furniture from the 20th century. The street’s galleries showcase Scandinavian furniture, lighting and accessories, and the new business partners spontaneously bought pieces by the likes of Arne Jacobsen, Verner Panton, Severin Hansen and Jacob Kjaer. They have since opened Mobler in the Grund. The shop, which is open by appointment only, also stocks pieces by Charles and Ray Eames, Joe Colombo and George Nelson--“to avoid any design chauvinism,” Max smiles.

COFFEE

FAIR TRADE AND ORGANIC

The Josy Juckem roasting house has launched a new fair trade and organic coffee in association with TransFair-Minka. Juca Bio/Fairtrade is made from beans, harvested in Honduras by two cooperatives, which are picked by hand, washed in clean water and dried in the sun. The farms themselves undergo regular inspection by organic and fair trade certiﬁcation institutions.

www.mobler.lu

News and recommendations for

EPICUREANS AND STYLE ICONS DUHR DOES IT AGAIN

Luc Deﬂorenne

DESIGNER STORE

www.leon.lu

64 - delano November 2011

Thierry Duhr’s reputation for creative cuisine using rigorously sourced produce has already been well established at his Bouquet Garni and Caves Gourmandes restaurants. Now he has opened a third restaurant, in the recently refurbished Les Arquebusiers tennis club on Val Sainte Croix in Belair. Restaurant Schéiss is a contemporary and minimalist space in the new cultural centre. Thierry’s concept is to offer diners food that emphasizes the origins of the carefully selected ingre-

Schéiss

RESTAURANT SCHÉISS

CHAUSSURES LÉON

Chaussures Léon, one of the oldest and most traditional shoe shops in Luxembourg, has opened a brand new outlet in the Centre Espace in Beggen. The spacious store has a distinctly contemporary feel and was designed by Robert Hornung and his team. Léon stocks a range of quality footwear, including Church’s handmade shoes from the UK.

www.transfair.lu

dients, resulting in well-balanced dishes packed with clean, fresh flavour. The menu will change every two months, providing regular customers from the neighbourhood with something new and allowing Thierry to select seasonal produce as the basis of his dishes--though a few firm favourites will become permanent fixtures on the menu. The restaurant also offers a choice of 16 different wines by the glass and a terrace with capacity for 100 diners. www.scheiss.lu

ING & COMMU ET N RK

ION AT IC

A creative caterer at your service !

LUX 10

G AWA R D S

Everything you’d expect from your events: unique and unforgettable experiences. If you are willing to offer your customers and guests a wide range of gastronomic delights, exemplary service and flawless organization you need to choose the right partner. A creative, dedicated and generous partner able to fulfill all of your wishes. You’ve just found it. Be our guest! guest !

8 route d’Arlon L - 8410 Steinfort I tel : 399 650 300 I fax : 399 650 605 I traiteur@steffen.lu I www.steffentraiteur.lu

MY OTHER LIFE: JANINE HORSBURGH

Mounted archery

ALL A QUIVER

Teacher at the Waldorf School, some time actress, playwright and horse lover, Janine Horsburgh has taken up the exotic sport of mounted archery. Text: Duncan Roberts — Photos: Olivier Minaire

Janine Horsburgh

MOUNTED ARCHERY

Growing in popularity, mounted archery is a martial art that has been revived as a sport in a number of countries. There are two main styles of modern mounted archery: the Hungarian and the Korean. In Europe and North America most practitioners follow the Hungarian style, of which the legendary Kassai Lajos is the most expert proponent. Here in Luxembourg, Jan belongs to the Horseback Archery Academy D‘Arc Angels group, which can be found on Facebook.

66 - DELANO - November 2011

Not many who know Janine Horsburgh would think of her as someone who is “naturally a very frightened person”, but she readily admits as much when talking about her new passion for mounted archery. “It takes a good deal of courage to ride a horse as fast as you can and shoot arrows at a target,” she says. “A horse is like a motorbike with a mind of its own.” Jan had riding lessons as a child, but stopped before she became a teenager. Indeed, she has only taken up mounted archery relatively recently, though she has been riding again regularly for some eleven years now, ever since she took on a horse on a half-board basis for daughter Kendra. That horse, Marek, has since become Jan’s own horse and she has also acquired another, Iscador. Over the past eleven years she has grown to understand that horses are very special animals. “Horses have an amazing ability to absorb energy, to pick up on things that we don’t understand.” She has taken part every year in the “Tour de Luxembourg à cheval”, which involves six days of riding through the Grand Duchy, with a dedicated group of volunteers who do the ground work, the cooking and so forth. “It is a great way to see parts of Luxembourg you wouldn’t normally see. And the horses become very balanced--it is not a race or competition-and it balances the riders because you are just on horseback for six hours a day. I have even taken people who don’t ride.” When Jan and some friends started attending medieval fairs--“we were hit-

ting cabbages with swords and such”--they attended a workshop by Hungarian brothers Marc and Christoph Némethy, who introduced them to the world of mounted archery. They have never looked back and while Jan has ridden in competitions in Germany, her friend Bettina Pratt has been to Poland and was even at a competition hosted by the King of Jordan. The competition allows riders forty seconds to ride some 90 metres shooting at a target along the way. “ You basically need a horse that can gallop regularly in a straight line,” Jan explains. “It is not a particularly expensive sport. You lose a few arrows, but I still think it is cheaper than taking up golf.” Indeed, Jan’s bow-made by the Némethy brothers--costs around 100 euro and her horses are lodged with a nearby farmer, so expenses are kept to a minimum. “There is nothing snobby about horse riding. In fact keeping a horse is a messy, time-consuming and often humiliating business.” But Jan has learned plenty from her horses. “Definitely patience. And also horses are very calming--you have to be calm around a horse. And they have completely different sensory perceptions, so you also learn to look at things differently. And to be successful with horses requires mental discipline as well, you have to visualize what you want to achieve--which may be applicable to other sports as well, but particularly so with horse because you are working with another animal.”

A Daimler Brand

The new M-Class.

For those in control. The ML 250 BlueTEC 4MATIC. For 7 % more power and up to 25 % lower fuel consumption. Fuel consumption (urban, extra urban, combined) 7.6 - 7.0 / 5.8 - 5.4 / 6.5 - 6.0 l / 100 km, CO2 emissions (combined) 170 -158 g / km. www.mercedes-benz.lu

Visit our Facebook page : www.facebook.com/MercedesBenzLuxembourg

Carlo Friob

Global Head - Discretionary Portfolio Management Head of Wealth Management

You think that expertise is key to progress. We agree

AS A PRIVATE BANK,

WE BRING YOU ALL THE EXPERTISE OF A GLOBAL GROUP

Expectations change. We do all we can to understand your expectations and your personal and business situation. Together we determine your needs and goals to select bespoke solutions and help you protect, grow and pass on your wealth.

COMMITTED TO YOUR FUTURE

bgl.lu