One of the main highlights of the Monaco Yacht Show is China Night, and this year’s gala has once again brought together a host of Chinese celebrities and local dignitaries in the Principality.
The event, hosted by Monaco Boat Services, is now in its 7th year and has been instrumental in continuing and expanding the relations between the People’s Republic and Monaco.
The gala dinner was held in the fabled Riva Tunnel in Port Hercule in the presence of Monaco’s Ambassador to China Catherine Fautrier, Monaco Boat Service’s President Lia Riva, Chinese actor/director Li Chen and Shanghai-born superstar singer G.E.M., who is referred to as the Chinese Taylor Swift and has chosen the Principality as the location to shoot her latest music video.
Li Chen was awarded the distinction of Ambassador to the Destination by Guy Antognelli, Director of the Tourism and Congress Board. The actor expressed his delight at staying in Monaco during his acceptance speech.
Since the March 2019 State visit of China’s President Xi Jinping to Monaco, where HSH Prince Albert II and Princess Charlene hosted an official luncheon for him and his wife, pursuing further diplomatic relations have been a priority for the Prince’s government.
Chinese interest in Monaco and the south of France has skyrocketed, resulting in a record number of tourists from the Asian powerhouse since the beginning of the year. So much so that Air China has expanded their service, operating three direct flights per week between Nice and Beijing.
Artificial Intelligence high on agenda at WIPO meeting
Monaco representatives are participating in the latest round of meetings held by the World Intellectual Property Organisation (WIPO) where artificial intelligence issues are a hot topic.
Monaco’s Ambassador and Permanent Representative to the United Nations Carole Lanteri is leading the Monegasque delegation at the 59th meeting of the World Intellectual Property Organisation currently taking place in Geneva.
In addition to covering next year’s administrative and financial concerns, the member states will be discussing technical issues pertaining to intellectual property rights, most prominently in connection with the development of technologies using artificial intelligence.
WIPO’s Director General, Francis Gurry, reiterated the necessity for across the board cooperation between not only companies but between nations. The questions that will undoubtedly arise from endeavours using artificial intelligence and who owns the rights to such technologies are being addressed, as well as deciding what the way forward is with regard to the development and adoption of a singular global standard.
The World Intellectual Property Organisation is a dedicated UN-sponsored organisation who oversees all international contracts and agreements in the realm of intellectual property, including patents, industrial designs, and copyrights. The agency also offers services to the member states with questions or problems that stem from intellectual property rights, including necessary arbitration, information and mediation when needed.
The first ever Gastronomy Festival will be held in Monaco in just under a week, taking diners on a flavour journey through some of the Principality’s finest restaurants.
Created by famous Russian restaurant journalist Ian Cherepanov, the festival will take place from 7th to 20th October and include a special set menu at five of Monaco’s hottest restaurants: Cantinetta Antinori, Song Qi, Beefbar, Twiga and Cova.
Twiga
“I love Monaco and I usually spend half of the year here,” Ian Cherepanov told Monaco Life. “My family and I like to go to restaurants and discover something new. The idea of this festival is to allow restaurants to show their concept through a special set menu.”
Each restaurant will be offering a special set of dishes inspired by traditions and world trends, covering everything from Mediterranean to Japanese cuisine, including fish and meat suggestions.
Beefbar
“I really want to make Monaco a gastronomic capital of Europe,” says Ian. “Through this festival I hope people from all over the world will come here not only for the beautiful life and sport events but also for high gastronomy.”
Ian Cherepanov was awarded best food critic in Russia in 2017 by FoodShow Award. He expects the festival to grow in popularity throughout the years and to include more restaurants in future editions.
In the first week of October, Final September Purchasing Managers Indices (PMIs) will be released across all main regions (US, China, Eurozone and UK). Despite some recent goodwill gestures from both US and Chinese authorities, manufacturing will likely continue to suffer from a slowdown in global trade. As such, we expect the indicator to remain in contraction territory in most regions although momentum should stabilise. Services activity, on the other hand, is likely to continue to expand, albeit at a more moderate pace.
Amongst all this uncertainty, the household sector has proven very resilient so far and investors will continue to pay close attention to developments in the Eurozone and US labour markets. Unemployment rates for August (EU) and September (US) are likely to remain at multi-decade lows but with the US Federal Reserve (Fed) having tied its monetary policy to incoming data, September’s US non-farm payrolls will likely be the most important catalyst of the week. Recent data would suggest that job creation may have slowed down but we still expect healthy earnings growth.
The week starting on Monday 7th October should be quieter on the data front with investor focus likely to move to US-China trade talks which are currently scheduled to resume on 10thOctober. Nevertheless, September’s Consumer Price Index (CPI) will likely draw some attention after the US Fed’s decision to cut interest rates last month. After a soft reading in August, the recent spike in oil prices may lead inflation to rebound temporarily although it should remain below the Fed’s 2% target.
While China didn’t follow the US in cutting interest rates, September’s money supply growth may give the market some indication as to whether the country’s central bank will need to go further than the cut in banks’ reserve ratios announced last month.
Finally, with the 31st October deadline fast approaching, uncertainty around Brexit is as high as ever. With only a few days left before the critical EU Leaders Summit (October 17-18), news flow is likely to accelerate. In regards to data, August GDP and industrial production are likely to confirm that growth in the UK remains sluggish.
The American Aid Association recently handed over €100,000 to the Monegasque Red Cross to assist American citizens residing or visiting in the Principality.
President of the American Aid Association Peter K Murphy and Vice-President Merrily Lustig-Tornatore met with Frédéric Platini, Secretary general of the Monaco Red Cross on 23rd September to offer the endowment as a slush fund for Americans who find themselves in trouble or unfortunate situations whilst living or staying in the Principality. Part of the fund will also go toward educational and cultural interactions between the youth of both countries.
The American Aid Association was formed in 1948 to help Americans who found themselves in temporary financial straits, hospitalised, incarcerated or residing in retirement homes. The late Princess Grace championed the association and worked with them for several years in conjunction with the now-defunct American Consulate in Nice.
Traditionally, the association was funded over the years by prominent Americans living on the Côte d’Azur, though it has recently decided to cease activities by its Board of Trustees.
In addition to the money received by the Red Cross, the American Aid Association has given some of the remaining funds to Riviera Lifeline, which assists elderly Briitsh and American residents living in the area.
Monegasque sports organisations join forces to promote peace through sport
Sports organisations in Monaco have come together to reconfirm their commitment to Peace and Sport, the organisation which promotes peace using the power of sport under the High Patronage of HSH Prince Albert II of Monaco.
The meeting on Tuesday 1st October aimed to create an active network of sports organisations committed with the promotion of sport for social good, as part of Peace and Sport’s 10-year strategic planning.
Participants reiterated their support to the Peace and Sport Methodology and the annual #WhiteCard campaign, and their commitment to organising solidarity ticketing to benefit Peace and Sport field programs.
More than 20 representatives of clubs, federations and sports associations from Monaco attended the event including A.S. Monaco Omnisports, the Fédération Monégasque de Judo et Disciplines Associées, the Fédération Monégasque de Natation and the Association Monégasque des Athlètes Olympiques.
In the presence of Adrien Maré, Champion for Peace and Monaco Rallye Raid World Champion, and Marlène Harnois, Champion for Peace and Taekwondo Olympic medalist, the meeting was an opportunity to share best practices to maximise the use of sport for social good in Monaco and highlight memorable #WhiteCard initiatives and actions undertaken around the International Day of Sport for Development and Peace.
“The Principality is experiencing an incredible effervescence in terms of peace-through-sport initiatives,” said Joël Bouzou, President and Founder of Peace and Sport. “Monegasque sports organisations are at the heart of the dynamics and share the positive values of sport internationally. Today, they renewed their wish to collaborate with Peace and Sport and we look forward to setting up new actions with them.”
During the meeting, several organisations took the floor to present their activities. A.S.M. Football Féminin talked about its involvement in the promotion of the Peace and Sport Methodology which develops adapted exercises to embrace the positive values of sport, such as dialogue and respect.
The International Martial Arts Centre of Monaco explained its financial support to Peace and Sport field programs through the implementation of a solidarity ticketing at the Monte-Carlo Fighting Masters. In two editions, profits funded part of the Friendship Games in the Great Lakes region of Africa and the Live Together program in the Zaatari refugee camp in Jordan.
“We have been supporting the activities of Peace and Sport for several years now and we can only encourage the Monegasque sports organisations to partner with Peace and Sport, to support its actions and to help spread its values,” said Claude Pouget, President of the International Academy of Martial Arts of Monaco.
The next important meeting organised by Peace and Sport will be the Peace and Sport International Forum held at the One Monte Carlo from 11th to 13th December. On this occasion, more than 600 decision-makers, including heads of state, strategic leaders from business and the sports world, Nobel Peace Prize laureates, representatives from civil society and international organisations, will discuss how the peace-through-sport movement can tangibly make a difference to our society.
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