Montenegro’s PM in Monaco

Dusko Markovic, Prime Minister of Montenegro and Serge Telle, Minister of State. Photo: Charly Gallo/DC
Dusko Markovic, Prime Minister of Montenegro and Serge Telle, Minister of State. Photo: Charly Gallo/DC

HE Mr Dusko Markovic, Prime Minister of Montenegro, paid a working visit to Monaco on Thursday, March 9, accompanied by a high-level delegation to participate in meetings focussing on economic cooperation.

The Prime Minister was received in audience by HSH the Sovereign Prince, in the presence of Mr Georges Lisimachio, Head of the Sovereign Prince’s Cabinet, Mr Gilles Tonelli, Minister for Foreign Affairs and Cooperation and Ms Anne-Marie Boisbouvier, Counsel to the Prince’s Cabinet.

A working lunch was hosted by the Minister of State, attended by the Ministers of Finance and Economy and Foreign Affairs and Cooperation. The points raised concerned, firstly, an economic cooperation project with a view to reaching an agreement on tax matters and also on the protection of the environment.

On Friday, March 10, HE Pavle Radulovic, Minister of Sustainable Development and Tourism, will take part in an Economic Forum organised by the Monaco Economic Board and the Montenegro Chamber of Commerce, during which the economic strengths of both countries will be presented.

The Principality has maintained diplomatic relations with Montenegro since 2007. In 2013, on the occasion of the official visit of Prince Albert, a Framework Cooperation Agreement and a Memorandum of Understanding on sustainable development were signed. A partnership agreement was also signed between the two Chambers of Economic Development.

 

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Monaco insurer Suissecourtage opens Florida office

Photo: Suisscourtage.com
Photo: Suisscourtage.com

Suisscourtage, a subsidiary of Monaco’s Pastor Group, has opened an office in Fort Lauderdale, Florida, one of the world’s most important yachting centres.

The company’s office at 777 SE 20 Street will offer the company’s several insurance brands – ONLYYACHT, ONLYYARD and ONLYJET.

Suisscourtage, which has been in business for more than 25 years, has offices in several major yachting, aviation and wealth hubs, including Antibes, London, Luxembourg and Rotterdam.

“As an independent Lloyd’s broker, we have direct access to the world’s largest insurance market which gives us the opportunity to place and renew our client’s policies at constantly improving terms and rates,” said Vincent Huens de Brouwer, executive director of ONLYYACHT US.

The ONLYYACHT division insures 370 yachts and more than 3,000 crew members and protects more than $6 billion of assets, the company said. The ONLYYARD division also covers shipyards and owners against risk of physical damage to superyachts while under construction, while ONLYJET insures private aircraft for damage to hull, liability to third parties and injury to crewmembers and passengers.

 

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Monaco tops wealth table

Monaco portMonaco is easily the world’s wealthiest country per capita, followed by Liechtenstein and Luxembourg, according to a report by research firm New World Wealth. The average private wealth per person in Monaco is $1.7 million, the firm said, without elaborating on whether the figure includes both Monegasques and official residents.

New World Wealth estimated that the UK’s total wealth – the private wealth held by all individuals in the country, including assets – is $8.7 trillion (£7.1 trillion), a fall of five percent from 2015, from $9.2 trillion, due primarily to the decreasing value of sterling since the vote to leave the European Union.

France, Italy and Germany also saw a decrease in their total private wealth. France’s figure of $6 trillion, which marked a 10 percent fall from 2015, was due to lack of new businesses formations and a large outflow of millionaires from the country, the report said. Italian wealth fell more markedly, from $5 trillion to $3.9 trillion – a drop of 12 percent thanks to the country’s high state pension obligations and fears of a banking crisis. Germany experienced a six percent decrease to $8.7 trillion, a result of an outflow of millionaires, but also because of the migrant crisis and a loss of jobs to Asia.

The United States was first in the table in terms of total private wealth, at $51.3 trillion, while China came in second with $19.1 trillion. In third place was Japan, with $16 trillion. India was up 12 percent to $6.2 trillion, and Canada, up 15 percent to $5.4 trillion. Australia also grew strongly, up 11 percent to $5 trillion.

New World Wealth said last month that Australia was the world’s most popular country for migrating millionaires, who are drawn Down Under by its proximity to emerging markets in Asia and its successful health care system. New Zealand is also increasingly popular with the very wealthy.

An estimated 11,000 millionaires made their way to Australia last year, putting it on top of the table for the second year in a row. That compared to 10,000 who moved to the US, and 3,000 who moved to the UK.

 

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Film screening Thursday for International Women’s Day in Monaco 

To highlight International Women’s Day on March 8, the association Femmes Leaders Monaco is holding a free screening of the French documentary “L’Histoire de Saré Bafé” on Thursday, March 9.

“It’s a short film taken from a story written by children from a school in the outskirts of Dakar,” Hilde Haneuse Heye, Founder and Honorary President of Femmes Leaders Monaco, told Monaco Life. “This tale illustrates the problem of unequal educational rights for girls. The children wrote the tale and their French teacher also plays in the film.”

The students are the winners of the international writing contest organised by Femmes Leaders Monaco, “Aux Coeurs des Mots”, which 19 countries from 3 continents participated in during the 2012-2013 school year.

Ms Heye is International President of Aux Coeurs des Mots. Its first edition was sponsored by the International Organisation of La Francophonie and its Secretary General, Abdou Diouf.

“L’Histoire de Saré Bafé will be shown this Thursday at 7 pm at the Lycée Technique (7 Allée Lazare Sauvaigo), with a cocktail, hosted by Ms Isabelle Bonnal, Director of the Department of Education, Youth and Sport, following the viewing.

The event is free but seating is limited so a reservation by email – indicating name and number of attendees – is essential: auxcoeursdesmots2017@gmail.com

The first International Women’s Day recorded was on February 28, 1909, in the US, as chosen by the Socialist Party of America to honour the 1908 garment workers’ strike in New York that saw 15,000 women standing up for better working conditions. Since 1975, the United Nations has been celebrating International Women’s Day on March 8, a day recognised worldwide that calls for gender equality.

Femmes Leaders Monaco was founded in 2010 and has more than 70 members.

Article first published March 4, 2017.

 

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‘Clash of personalities’ behind Monaco murder

policecarA clash of personalities may be the root cause of the falling out of two colleagues at the Pulcinella restaurant in Monaco that resulted in a 30-year-old Italian of Albanian origin fatally stabbing his colleague, investigators believe.

Ricard Nika has confessed to killing Alfio Fallica, also 30, and Sicilian, on the evening of February 24. Mr Nika, a waiter, has been described by co-workers as taciturn and unstable, and also ambitious, but so far no one has been able to identify the real reason for the killing.

Nika remains in custody in Italy and has said nothing since his arrest in Bordighera, accept for admitting the facts, according to reports.

Twelve days ago, the body of Alfio Fallica was found in a pool of blood in the wine cellar of the popular upmarket restaurant on 17 rue du Portier at 5:30 pm on Friday night, and investigators believe he had been ambushed and stabbed to death. The two men had, reportedly, had a difference of opinion about a month before the incident, colleagues have said.

 

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Monaco police bravery, 14 recognised for Graff hostage-taking intervention

Photo: Manuel Vitali/Direction de la Communication
Photo: Manuel Vitali/Direction de la Communication

Serge Telle, Minister of State, recently presented letters of congratulation to a number of police officers who have been involved in incidents during which they acted with exception devotion to duty.

“I am especially pleased that we all pay tribute to those who ensure our daily security, with determination, courage, and talent. Security is the first of our freedoms. It is freedom that ensures our social contract. It is the guarantee of our future,” Minister Telle said during the ceremony at his residence.

The actions of the police officers will also be recognised during the next national holiday, at the request of the Minister of State.

On September 18 last year, four police officers prevented a person from committing suicide on Boulevard du Larvotto, while on December 22, 2016, fourteen police officers intervened during the hostage-taking and attempted robbery at the Graff jewellery shop in Monte-Carlo.

Their prompt actions allowed them to intercept the robber before he could leave the Principality. HE Serge Telle also wished to associate with this event the security officer of the Monaco Sécurité Privée company, who sounded the alert.

Finally, Minster Telle said that the Government had decided to improve working conditions for the police service with a  revaluation of night hours, and to give the Directorate of Public Security new resources and material in 2017.

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