Schaan - The Hilti Group’s global sales increased by nine per cent in local currencies in 2023, meaning the tools manufacturer from Schaan outperformed the market. Southern Europe proved to be the main growth driver.

Schaan - As planned, the tools manufacturer Hilti has been CO2-neutral within its own business activities since the end of 2023. Compared to 2019, the Group reduced its emissions by 60 per cent. Going forward, the goal is to further reduce emissions across the entire value chain.

Liechtenstein and Norway intend to coordinate more closely when adopting new EU regulations for financial services. Both countries are keen to strengthen cooperation across the European Economic Area (EEA) in general, with a particular emphasis on matters relating to the financial sector.

LGT Private Banking is advancing its plans to expand its footprint in Germany by opening a location in Frankfurt am Main. New branches in Düsseldorf and Cologne were both only opened at the beginning of 2024, although Hamburg has been home to an LGT Private Banking office since 2022.

The Liechtensteinische Landesbank (LLB) launched local operations in Germany at the start of January 2024. The new offices in Munich, Frankfurt and Düsseldorf will offer investment advice and asset management. They will employ a total of 40 people.

The University of Liechtenstein has received an accreditation from AACSB for its excellent quality. This global accolade recognizes the university’s academic achievements and boosts Liechtenstein’s competitiveness as a location for business.

Hilti, Boston Consulting Group and SAP have developed a score for the circular economy. Circelligence enables the implementation of circularity principles in operations to be recorded. Hilti has already applied its methodology.

- Johannes Wettstein has been appointed as the new CEO of Prosperity Solutions, a subsidiary of the Prosperity Company financial group based in Ruggell. With the appointment of Wettstein, the group now has its sights set on international growth and expansion in digital markets.

Eastern Switzerland University of Applied Sciences have joined forces to work on the microstructuring of wafers. The international manufacturer of processing systems for semiconductors from Liechtenstein has installed its plasma etching system in the OST clean room in Buchs.

ZirkuLIE, a new competence center for the circular economy, has launched its online knowledge portal. The project, which is the brainchild of the Liechtenstein Foundation for a Livable Future, seeks to promote the transition to a circular economy.

- LGT Bank was ranked summa cum laude in the quality test conducted by the specialist magazine “Elite Reports”. This places the private bank owned by the Princely Family among the top ten wealth managers in the German-speaking world.

Liechtenstein remains one of the most solvent countries in the world. The rating agency S&P Global has confirmed its AAA sovereign rating for Liechtenstein as part of its half-yearly review. The rating outlook has also been kept at stable.

Liechtensteinische Landesbank (LLB) sees climate change as the most pressing challenge for humanity today. The bank offers sustainable products with the aim of achieving full climate neutrality by 2040 as it strives to play its part in the fight against climate change.

The Financial Market Authority Liechtenstein has published its Financial Stability Report 2023. The results show that the country’s financial sector is stable, but there are challenges for the export economy due to the global situation.

- LGT has won four awards at the PWM/The Banker Global Private Banking Awards. The private bank was particularly praised for its achievements in the philanthropy and alternative investment categories. LGT was also named the best private bank in Liechtenstein.

The Liechtenstein Bankers Association (LBA) has appointed Stephanie Wickihalder as Deputy Managing Director. Formerly of Credit Suisse, Wickihalder will be responsible in particular for overseeing topics related to digitalization and increased collaborations with fintechs at the LBA.

The University of Liechtenstein and its project partner, the Frankfurt School of Finance & Management, have been trialing a hybrid lecture hall. This improves the feeling of closeness between those physically in attendance and those connected online through state-of-the-art technology.

The Liechtenstein government is supporting the revised OECD standard on the exchange of information in tax matters. This now also includes a framework for the reporting of assets in cryptocurrencies.

The Ideenkanal foundation is inviting those involved in social enterprises to attend an Ideas Camp on November 23, 2023. The industry event will focus on Liechtenstein's first Social Entrepreneurship Monitoring, and will include a brainstorming workshop and cultural supporting program.

The Investor Summit Liechtenstein will put eight selected start-ups in the spotlight on November 21, 2023. The event will bring the start-ups into contact with investors and decision-makers.