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Top five stories you may have missed
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Top five stories you may have missed

3 min. 16.07.2021 From our online archive
In case you missed them the Luxembourg Times has selected the five best stories of the week for you
300 inhabitants of Echternach, a town in the east of Luxembourg, had to be evacuated
300 inhabitants of Echternach, a town in the east of Luxembourg, had to be evacuated
Photo credit: Gerry Huberty

Floods to last as thousands forced out of homes

Luxembourg warned of further floods across the country until midnight on Thursday, as thousands of people were forced out of their homes in a natural catastrophe that killed at least 42 people in neighbouring Germany.

Torrential rain caused rivers to burst their banks on Wednesday night and early on Thursday, damaging homes and causing traffic disruption, as fallen trees blocked roads and several train connections were cancelled.

Empty plots show wealthy owners drive housing crisis

A small group of rich owners are sitting on large tracks of empty land that could be rapidly used to build new homes in Luxembourg, even as tens of thousands are leaving the country to escape the soaring housing crisis.

Buildable land that has been lying unused for decades is adding to the pockets of rich individuals each year and the concentration of wealth in only a few hands is one of the main drivers of Luxembourg's overheated housing market, researchers and pressure groups are saying.

Ex-spy could face extradition decision next week

A decision to hand over former Luxembourg spy Frank Schneider to the United States could come as early as next week, as judges in the French city of Nancy are gearing up to issue their verdict after his arrest late in April.

The so-called 'deliberation' (délibéré), is set to start on Wednesday, 21 July at Nancy's Court of Appeal, local prosecutor Jean-Jacques Bosc told the Luxembourg Times, as the US seeks to extradite him in the OneCoin cryptocurrency fraud case revolving around Ruja Ignatova.

Vestager offers ray of hope for Luxembourg steel plant

The European Union’s competition commissioner may be opening the door to a scenario to save jobs at a Liberty Steel plant in Luxembourg that union leaders and some politicians prefer – by allowing ArcelorMittal to buy it back.

Commission Vice President Margrethe Vestager last week seemed to create an opening for those who want to reverse the sale of factories in Luxembourg and Belgium to Liberty Steel in 2018.

Dearth of capital limits Luxembourg start-up growth

A lack of venture capital is preventing innovative start-ups in Luxembourg from growing into multi-billion dollar companies with hundreds of employees and many rarely export products outside of Europe.

The country brands itself as a hotspot for entrepreneurship, and rich government grants and coaching programmes have drawn in many companies from across the world. There are now 507 start-ups in Luxembourg, according to Luxinnovation, a government-backed promotion agency.

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