Dr Cécile Ortholan, Director of the Radiotherapy Service with HSH Prince Albert and Stéphane Valeri, Minister of Social Affairs and Health. Photo: Eric Mathon/Palais Princier
Monaco’s Government is investing in two linear particle accelerators for the radiotherapy department of the Princess Grace Hospital. A linear accelerator customises high energy X-rays to match a tumour’s shape and destroy cancer cells while sparing normal tissue.
There are only two or three such advanced machines in the whole of France, and none in the PACA region, Stéphane Valeri, Minister of Health and Social Affairs, said.
Dr Cécile Ortholan, department head of radiotherapy at Princess Grace since 2011, added: “It’s like going from a small city car to a Ferrari. We can treat tumours for all cancers with greater precision. We treat 400 patients per year in Monaco.”
The Novalis truebeam machines will cost a total of €11 million, and the first is ready to enter service on Monday with the second arriving within a year.
Costamare Inc., an international owner and provider of container ships for charter, has announced the election of two Class III directors at the company’s annual meeting of stockholders held in Monaco on Wednesday, October 12.
The newly-elected directors are Konstantinos Konstantakopoulos and Charlotte Stratos. Each Class III director was elected to hold office for a term ending at the annual meeting of stockholders in 2019 and until his or her successor has been elected and qualified. Stockholders also ratified the appointment of Ernst & Young (Hellas) Certified Auditors Accountants SA as the Company’s independent auditors for the fiscal year ending December 31, 2016.
Costamare Inc. is one of the world’s leading owners and providers of container ships for charter. The company has 42 years of history in the international shipping industry and a fleet of 72 container ships, with a total capacity in excess of 467,000 TEU, including 10 newbuild container ships on order.
Eighteen of the company’s container ships, including 10 newbuilds, have been acquired pursuant to the Framework Agreement with York Capital Management by vessel-owning joint venture entities in which Costamare hold a minority interest.
Monaco property buyer younger and non-European, says report
The typical buyer profile of Monaco homes is in flux, skewing younger, and leaning toward non-Europeans, according to a recent report by Knight Frank.
Buyers from China, the Middle East, and Russia are reportedly springing for Monaco properties priced above €10 million ($11 million), while their British, Italian, Swiss, and northern European peers tend to be active in buying properties below those price points, according to property-report.com.
“Not only is the age of buyers lower than it was a decade ago, but the nationality of buyers can increasingly be defined according to their purchasing power,” wrote Knight Frank researcher Kate Everett-Allen.
Monaco remains a highly coveted tax haven among high-net-worth individuals (HNWI) worldwide. “Unlike many other tax havens, it is neither remote nor compromised on its lifestyle offering,” Edward de Mallet Morgan, head of Knight Frank’s Monaco department, said. “Monaco is, after all, located on the most sought-after coast in the Mediterranean, with the Côte d’Azur and the Italian Riviera on its doorstep, ski resorts an hour away and Nice airport with connections to Europe and beyond within approximately a 30 minute drive.”
While the Principality baulks at the label “tax haven”, it’s home to 12,200 millionaires, and has seen a 62 percent increase in its population of wealthy people or those with net assets of more than €30 million over the last 10 years, according to Knight Frank. Prices for Monaco properties have also soared by 27.8 percent over the last five years, according to the Monaco Statistics office.
Meanwhile, a survey by market research company New World Wealth ranked Russia as having the world’s sixth biggest outflow of individuals worth over $1 million (€990,000), with the number of millionaires in the country falling 2 percent last year.
The conflict in Ukraine and the depreciating ruble have driven rich Russians to other shores. In a survey by property broker Tranio.com and Spear’s Russia, 58 percent of HNWI emigrants from Russia cited geopolitical and economic instability as main reasons to change their country of residence and buy overseas property. Around 2.2 percent reasoned that they were in search of more attractive tax regimes.
The Monaco Government is constantly trying to ameliorate the problems faced by everyday commuters to the Principality, and this week announced that more buses will be added to the very popular, and often overcrowded, number 100 route that runs from Nice to Monaco with some services continuing to Menton.
As part of this policy, a new line, the 101, was introduced to serve Saint-Laurent d’Eze to the west and Carnoles to the east in July 2014, but usage has been disappointing. In consultation with the Alpes-Maritimes, the resources given to the 101 will now be reallocated to the much busier 100 route.
Two more large capacity articulated buses will be added, allowing seven more departures in peak hours from Nice to Monaco, with the last bus to Nice from Monaco leaving at 9 pm, an hour later than the current schedule.
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Costamare Inc., an international owner and provider of container ships for charter, has announced the election of two Class III directors at the company’s annual meeting of stockholders held in Monaco on Wednesday, October 12.
The typical buyer profile of Monaco homes is in flux, skewing younger, and leaning toward non-Europeans, according to a recent report by Knight Frank.
The Monaco Government is constantly trying to ameliorate the problems faced by everyday commuters to the Principality, and this week announced that more buses will be added to the very popular, and often overcrowded, number 100 route that runs from Nice to Monaco with some services continuing to Menton.