Day: 4 December 2017

HSH Princess Stephanie, President of Fight AIDS Monaco, took part in three major events  leading up to World AIDS Day on December 1.

On November 22, the Princess and her daughter Pauline Ducruet came out to support the Fight AIDS Monaco team at the “Test in the City” operation in front of Carrefour.

This is an anonymous and free screening for the public. A total of 241 people were tested – 190 people by Fight Aids Monaco and 51 by the Emergency Department at Princess Grace Hospital.

On November 27, Princess Stephanie, along with Christophe Steiner, President of the National Council and Didier Gamerdinger Minister of Health and Social Affairs (who also was on hand for “Test in the City”) handed out memorial quilts at the Oceanographic Museum, each quilt carrying the names, birthdates and dates of death of victims of the disease.

Finally on December 1, in support of World AIDS Day, Princess Stephanie and Prince Albert, along with Camille Gottlieb and Louis Ducruet and his companion, attended the Fight Aids Monaco art auction at the Salon Atlantique at Le Meridien Beach Plaza hotel.

The event raised €188,100 for the charity.

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The Monegasque authorities have initiated opposition proceedings against trademark applications filed by a Hong Kong company that has recently launched Monaco Visa payment cards.

Monaco Brands said on Monday, December 4, that “Monaco” is a protected name worldwide, and no authorisation has been given by the Principality for the use of the name.

Monaco Brands’ mission is to protect, enhance and defend the entire global portfolio of the brands Monaco and Monte-Carlo, both associated with the Principality.

The company behind the card is Foris Limited, which also makes use of the name Monaco Technology GMBH, a Swiss company.

Foris Limited is a very recent Hong Kong entity, registered on June 30, 2016.

In addition, Monaco Brands points out that these two companies do not carry out any activity in Monaco. The launch of this payment card infringes the Principality’s rights and every measure will be taken to protect the trademark.

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News

It was September 2016 when the Crocodile Rocker put on a spectacular show at the Monaco Yacht Club. The “Blue Wonderful” concert, a co-production between Ferretti Group and the Yacht Club de Monaco, opened the Private Preview weekend, during which Ferretti Group presented its whole fleet, including six world première models, effectively kicking-off the two big luxury yacht meetings.

This time, Sir Elton – the award winning singer-songwriter who has 8 Grammys, 1 Oscar, a Tony and three of his albums have been inducted into the Grammy Hall of Fame – is playing at the Grimaldi Forum on Wednesday, December 6, starting at 8 pm.

Tickets, from €294 to €497.50, are still available (at the time of publication).

He has played and sung with the biggest names including John Lennon, Eric Clapton, Tina Turner, Celine Dion, George Michael, Rolling Stones, The Who, Queen, Sting. He remains a reference and inspiration for a whole new generation of artists.

With his latest album “Wonderful Crazy Night,” the 70-year-old returns to his basics and offers the pop music of his earlier years.

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At the last meeting of the Conference of the Parties to Convention No. 198 of the Council of Europe held in Strasbourg on November 21 and 22, the Principality was represented by Jean-Marc Gualandi, agent for SICCFIN (Information and Control Service for Financial Circuits).

Monaco’s Ambassador to the Council of Europe, Rémi Mortier, had signed Convention No. 198 on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and the financing of terrorism, known as the Warsaw Convention, on September 1.

This instrument, which was opened for signature in 2005 and entered into force on May 1, 2008, is considered an essential treaty of the Council of Europe and is the first comprehensive international treaty covering the prevention and suppression of money laundering and terrorist financing, and providing for international cooperation in these areas.

By signing the Convention, Monaco joined 41 other signatories, member countries of this institution, which has 47. The pending ratification will entail a legal obligation for the Principality to apply the provisions of this Convention on its territory. To date, 33 states have ratified it.

On November 9, Bill No. 972 strengthening the Anti-Money Laundering, Financing Of Terrorism and Corruption System was submitted by the Government to the National Council. This project aims to implement in the Principality the new provisions of the Fourth Anti-Money Laundering Directive of the European Union (2015/84920 May 2015), but also many recommendations made by the MONEYVAL Committee and GRECO.

Following the signing of this treaty, the Conference of the Parties to Convention No. 198 invited Monaco to follow its work by sending a nominated expert. This Conference is responsible for monitoring, and monitoring the implementation of, the Convention by the parties, training rapporteurs and raising awareness of the fight against money laundering and terrorist financing.

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News

Monaco-based Scorpio Bulkers Inc. announced on Monday, December 4, that the company has received a commitment from a leading European financial institution for a loan facility of up to €32.6 million ($38.7 million). The facility will be used to finance up to 60 percent of the market value of the three Ultramax dry bulk vessels the company has recently agreed to acquire.

The loan facility will have a final maturity of five years from the signing date and bears interest at LIBOR plus a margin of 2.85 percent per annum. The terms and conditions will be similar to those set out in the company’s existing credit facilities. The loan facility is subject to customary conditions precedent and the execution of definitive documentation.

Scorpio Bulkers also announced that it has agreed to modify a previously announced contract with an unaffiliated third party to acquire a 2015 Chinese built Ultramax dry bulk vessel.

Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. After the completion of its recent acquisitions of nine Ultramax vessels, the company will own or finance lease 55 vessels, consisting of 18 Kamsarmax vessels and 37 Ultramax vessels.

The company also time charters-in one Ultramax vessel and one dry bulk Kamsarmax vessel is expected to be delivered to the company in the second quarter of 2018 from a shipyard in China. Upon final delivery of all the vessels the owned fleet is expected to have a total carrying capacity of approximately 3.9 million deadweight tonnes.

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