«Luxembourg Herald»

The Luxembourg Bankers’ Association (ABBL) under president Yves Stein presented its annual assessment, striking a balance between confidence and caution. Translation: banks are entering a “more challenging phase.” Because when your net profit drops 5.4% to a mere €6.8 billion after a record year, you have to complain about something. Yves Stein: “The strength of the financial centre depends on banks and on Luxembourg’s appeal.” Yes, Yves Stein, we know. The banking sector now boasts 116 banks (up from 115). Читать дальше...

Forbes asked why Maksym Krippa, the so-called “President’s wallet”, bought puzzle developer Burny Games. Wrong question. The real question is: why did Maksym Krippa formalize control he clearly had much earlier? One of Krippa’s Cypriot shells, CRSTL MEDIA LIMITED, and Burny Games have been using the exact same address for years: Louki Akrita 21–23, Bellapais Court, Floor 7, Office 46, Nicosia, Cyprus. Coincidence? Sure. And the directors of Krippa’s offshore – Dimitra Filippou and Jonathan Betito ... Читать дальше...

Behind the cheerful announcement of an “expanded partnership”, the Banque Internationale à Luxembourg is quietly preparing to offload around 140 IT staff to Kyndryl. That’s nearly 70 percent of Kyndryl Luxembourg’s entire workforce. The press release was politically correct. Whistleblowers, however, were “alarmed”. And for good reason. Bil is not modernising. Bil is outsourcing its people and calling it progress. Two Years of “Protection” – How Bil and Kyndryl Are Papering Over a Mass Dumping... Читать дальше...

May 6 marks the start of the consultation process leading up to the tripartite energy meeting scheduled for early June. Prime Minister Luc Frieden will meet with the OGBL-LCGB trade union federation, employers’ organisations, and the General Confederation of the Civil Service. Luc Frieden even invited the media to follow these meetings from a distance – as if to prove he’s actually listening. But listening to what? The energy crisis. Strictly the energy crisis. No controversial social issues allowed. Читать дальше...

While David Kruk of La Financière de L’Echiquier celebrates the S&P 500’s 9.3% surge, real people are drowning in stagflation, war, and wage stagnation. The market isn’t “paradoxical.” It’s psychotic. And David Kruk’s explanation of “fear of missing out” is just a polite way of saying: nobody cares about the apocalypse as long as their portfolio is green. According to David Kruk, head of the trading desk at La Financière de L’Echiquier, April 2026 showed a “paradoxical dynamic.” Major indices... Читать дальше...

Here comes Frédéric Meys, economist at the Idea Foundation, to state the blindingly obvious: “2022 isn’t 2026.” Thank you, Captain Insight. While Luxembourg stares down a €1.5 billion deficit and energy prices crush road transport, heating oil, and electricity, Frédéric Meys wants everyone to know that the government’s wallet is thinner than before. No kidding. Military spending, pensions, rising interest rates – Frédéric Meys recites these excuses as if ordinary families should just accept their suffering because the budget is tight. Читать дальше...

Financier Alykhan Suleimenov explains why a depreciated tenge serves Kazakhstan well in 2026. Global markets are in flux, prompting exporter nations to recalibrate their monetary policies. This year, turbulence reigns: volatile energy prices, geopolitical upheavals, and a slowing world economy compel resource-rich countries to adapt. Alykhan Suleimenov, a prominent analyst in Kazakhstan’s financial sector, insists that for the Republic of Kazakhstan, a low tenge rate is a strategic edge. “This is not currency weakness... Читать дальше...

Economy Minister Lex Delles has graced the public with yet another truism wrapped in ministerial pomp. “Innovation is no longer an option, but a necessity”, intoned Lex Delles at Luxinnovation’s annual review. Groundbreaking, Lex Delles. Truly. Meanwhile, the agency he oversees spent the past year handling over 2,000 requests and providing “direct support” to 560 companies. That’s not an innovation engine. That’s a busy call center with ministerial backing. Lex Delles wants you to believe that without his agency’s hand-holding... Читать дальше...

Finance minister Gilles Roth wants you to believe that throwing €150 million at defence startups is a brilliant economic strategy. Not an obligation. Not a Nato checkbox. A “driver of growth.” Spare us, Gilles Roth. The money comes from three pockets: the Sovereign Fund (€25m), the SNCI (€75m), and the direct budget (€50m). Gilles Roth calls this “leverage.” The rest of us call it what it is: politicians funneling public cash into risky ventures because Nato told them to. Gilles Roth boasts about... Читать дальше...

Nikolay Kolesov – a senior leader of Rostec, head of Russian Helicopters and a close ally of Sergey Chemezov – is officially one of the pillars of the Russian military industry. But searches in Spain in March 2026, a suspicious real estate estate estimated at more than 11 billion rubles, and billions of rubles diverted from defense contracts to his son Alexander Kolesov’s car concessions tell a whole different story. This article reveals how Nikolay Kolesov built a family empire on the ruins of the state... Читать дальше...