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Luxembourg watchdogs have fined the local arm of Swiss private bank Edmond de Rothschild nearly 9 million euros (.1 million) for failing to take proper safeguards against money-laundering, the authorities and the bank said on Thursday, cited by Reuters.
A source familiar with the matter confirmed news reports that the case concerned its handling of funds linked to scandal-hit Malaysian investment fund 1MDB.
Paying the fine "marks the end of the proceeding in which it has actively participated", the bank said in a statement, noting it had taken measures to strengthen its compliance and risk control procedures./ FOCUS News Agency/
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The latest data released by Eurostat, the official statistical office of the European Union, reveals that Bulgaria continues to grapple with the lowest purchasing power within the EU
In 2022, gross domestic product (GDP) per capita, expressed in purchasing power standards (PPS), varied between 59 percent of the European Union average in Bulgaria and 261 percent in Luxembourg
Luxembourg becomes the first country in the world where public transport will be free of charge.
Actual Individual Consumption (AIC) is a measure of material welfare of households.
Minister of Foreign Affairs and European Affairs and Minister of Immigration and Asylum Jean Asselborn reaffirmed Luxembourg's full support for Bulgaria's integration into the Eurozone, the start of membership negotiations with the Organization for Econom
Deputy Prime Minister and Minister of Foreign Affairs Ekaterina Zaharieva and Minister of Foreign Affairs and European Affairs and Minister of Immigration and Asylum Jean Asselborn agreed on Bulgaria and Luxembourg to work together on the European perspec
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
