The Malizia II, best known for its recent Atlantic crossing with teen activist Greta Thunberg from Plymouth to New York, is out on the high seas once again.
Crewed by German Boris Hermann and Englishman Will Harris, the Malizia II is racing in the 14th edition of the Transat Jacques Vabre, a race following the famed coffee route from La Havre to Salvador de Bahia, Brazil.
The vessel set sail last Sunday and is being supervised by the Monaco Yacht Club’s Vice-President Pierre Casiraghi. They are currently off France’s west coast and are in 10th place out of 29 competing boats in the Imoca category.
The race will no doubt be exciting, but it also serves as a dry run for the Vendée Globe, the solo, non-stop around-the-world race founded in 1989 by Philippe Jeantot, which takes place every four years and will next be run in 2020 with Mr Hermann at the helm.
This race also carries important environmental impacts, as the sailing ship will travel without emitting any CO2 owing to two hydraulic generators and two 1.3kw solar panels which will run all operating systems. Additionally, the boat is kitted out with ocean sensors that allow data to be gathered regarding CO2 levels in the seas at different points throughout the voyage.
The Chamber of Commerce’s Monaco Economic Board (MEB) met last week with almost 100 institutional and private company directors in the Italian city with the goal of building stronger ties to the Campania region.
Three events were held over two days, from 21st to 23rd October, and were attended by representatives from the MEB as well as delegates from Richelieu Bank, Mazza Immobilier and Engineering and Energy.
Think tank Trinità dei Monti hosted a business meeting for 80 on Monday. Tuesday morning there was an assembly with the Naples Chamber of Commerce, where letters of intent were signed announcing new mutual economic cooperation between the two parties. That evening, an event with members of the Neapolitan Club of Ambassadors, a club of economic and institutional players with links to Monaco, met at the Circolo Nazionale dell’Unione.
As a close neighbour, Italy is an important ally with regard to trade and business development and these meetings have solidified the already good relations between the two regions.
The Monaco Economic Board will return to Italy from 8th to 10th November, meeting with business leaders and officials in Turin.
Two of Monaco’s major unions have signed the National Pact for Energy Transition, signalling a willingness on their part to make the necessary changes and to lead the way for other unions to follow suit.
President of the Monaco Employees Federation of Trade Unions (F2SM) Cedrick Lanari and Thierry Loutre, the Secretary General and Founder of the Monaco Union of New Information Technologies and Communication (SMNTIC), met last Friday with Annabelle Jaeger-Seydoux, Director of the Mission for Energy Transition (MTE) to officially sign the government’s energy transition plan.
The ceremony took place at the F2SM offices with the relevant union secretaries and members of the Bureau in attendance.
F2SM boasts a membership of nearly 800 employees in the Principality and Mr Lanari said that he was ready to “show the way” by leading the movement and putting in place universal systems that incorporate all 10 of the unions under the Federation’s umbrella.
Mobility and dematerialisation are the primary concerns for SMNTIC, and to this end they have already ceased handing out flyers, thus lessening waste, and are preparing to create a website hosted by fellow signatory Monaco Telecom in the coming year.
The National Pact for Energy Transition was implemented with the highly ambitious goal of reducing greenhouse gas emissions in Monaco based on targets set by HSH Prince Albert II last year. The pact was designed to be a tool for progress, allowing all Monegasque businesses and residents the opportunity to do their part in realising the objectives. The charter is open to all interested companies and individuals and can be sign online at www.energy-transition.gouv.mc
Photo left to right: Thierry Loutre, Annabelle Jaeger-Saydoux and Cédrick Lanari / Communication Department Stéphane Danna
The wife of Andrea Casiraghi, Tatiana Santo Domingo Casiraghi, has hit the headlines recently as the wealthiest citizen in Monaco. With a reported net worth of €2 billion, the American-born heiress has easily surpassed Prince Albert as the wealthiest citizen, who himself has an estimated net worth of just under one billion euros.
There are, of course, many wealthy individuals who are residents of Monaco, not citizens. But the average net worth still doesn’t come close to Tatiana Santo Domingo Casiraghi.
According to the latest Global Wealth Migration Review by AfrAsia Bank and New World Wealth, the average wealth of a person living in Monaco is about €1.9 million and an estimated 32% of Monaco residents are millionaires.
Victoria Silvstedt, Michel Merkt, Celina Lafuente de Lavotha, Chiara Boni, Nima Benati, Naomi Campbell, Federica Nardoni Spinetta, Rosanna Trinchese, German Larkin, Tatiana Santo Domingo Casiraghi, Andrea Casiraghi, Mireille Pietri. Photo: Daniele Guidetti
Born on 24th November 1983 in New York, Tatiana Casiraghi was raised in Geneva, Switzerland, and Paris, France. Her grandfather was Julio Mario Santo Domingo, the second richest man in Colombia who built his fortune as the owner of Bavaria, a major brewery in Colombia. When he died in 2011, he left a sixth of his €7.5 billion wealth to Tatiana. His assets included homes in New York City and Paris, and a private island off the Caribbean coast of Colombia.
After interning at Vanity Fair magazine and a stint at the Aeffe Group (an Alberta Ferretti label), Tatiana launched her ethical fashion business Muzungu Sisters with Dana Alikhani, daughter of Hossein Alikhani. She paired her passion for fashion and travel with Dana’s master’s degree in human rights to create an online retail portal that currently offers ethically-sourced handmade luxury items produced by artisan communities across the globe.
Dana Alikhani and Tatiana Santo Domingo Casiraghi in a photo on their business website
In July 2012, Caroline, Princess of Hanover, announced that her son Andrea and Tatiana were engaged. This came as no surprise, as Tatiana had been at the side of Andrea for the previous seven years and had witnessed some monumental moments, including the enthronement of Prince Albert II and his wedding to Charlene Wittstock.
By March 2013, Tatiana and Andrea welcomed their baby boy Alexandre Andrea Stefano “Sasha” Casiraghi, who is fifth in the line of succession to the Monegasque throne. Their second child, India Casiraghi, was born on 12th April 2013 and their third, another boy called Maximilian Rainier, was born on 19th April 2018.
Andrea Casiraghi and Tatiana Santo Domingo Casiraghi pictured with India on National Day 2016. Photo: Palais Princier de Monaco
The former American socialite is known for her vintage, boho chic fashion sense and most of Tatiana’s rare public appearances revolve around the fashion industry.
According to the heiress’ biography on the Muzungu Sisters website, Tatiana lives in London with her husband, their three children, and the family’s two dogs.
Top picture: Celina Lafuente de Lavotha, Tatiana Santo Domingo Casiraghi and Michel Merkt @ Michael Alesi
With Halloween approaching, hopefully markets won’t be spooked by this week’s batch of macro data (and by the ghost of a no-deal Brexit).
Needless to say, Brexit is the key event to look out for. Although it remains hard to call the final outcome, we believe that the chances of a resolution have now increased after PM Johnson obtained Parliamentary support for his Brexit bill. Meanwhile, given the protracted uncertainty, we wouldn’t be surprised to see gloomy manufacturing purchasing managers’ indexes (PMIs) out of the UK.
In the US, all eyes will be on the US Federal Reserve’s (Fed) policy meeting on 30th October, with the central bank expected to deliver a 25 basis point rate cut on the back of slowing global growth. Although the Fed is unlikely to start a full easing cycle, as trade tensions seem to be receding, much will depend on the latest domestic quarterly growth number. The advance in third-quarter (Q3) gross domestic product (GDP) is likely to edge down to 1.5% on an annualised basis from 2% in Q2, given recently deteriorating US leading indicators.
While the struggles of the corporate sector are known, we would be cautious to write off the consumer too quickly and instead wait to see next week’s employment numbers. Consensus points to a slight moderation in the unemployment rate, but this should be offset by a modest pick-up in wage growth.
In the eurozone, the quarterly GDP reporting season continues. The area is likely to avoid a recession in the three months to September, although growth should remain subdued at 0.2% quarter on quarter. With the manufacturing sector stuck in contraction territory and weaker imports suggesting softer domestic consumption, markets remain on the look-out for signs of improving macro data. Much-needed relief could come from the labour market, should September’s unemployment rate remain unchanged at 7.4%, the lowest level since 2008.
Meanwhile in China, the economy is likely to continue in “soft-landing” mode, following the weakest GDP growth rate in 26 years seen in Q3. Although premiers Trump and Xi are expected to seal their “phase 1” trade deal next month, tariffs remain in place and a definitive resolution is still far from done. So, we wouldn’t be surprised to see continued weakness in October’s manufacturing PMI, although the temporary trade truce should release some downward pressure from the manufacturing sector.
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Charles Leclerc can’t catch a break these days. He went from pole position to fourth place, losing what should’ve been his race to win.
A decision to put Leclerc on a two-stop strategy at Sunday’s Mexican Grand Prix left Ferrari again seeing Mercedes’ Lewis Hamilton snatch victory from their fingertips. Leclerc wound up a disappointing forth, with teammate Sebastian Vettel coming in nearly two seconds behind Hamilton, followed by Mercedes pilot Valterri Bottas in third.
At the starting line, it would have been difficult to predict this outcome. Despite minor contact on the first lap between Leclerc and Vettel, there was no damage, and all seemed well, whilst Hamilton and Red Bull’s Max Verstappen hit a bit of trouble.
The second pit stop may not have been a total disaster for Leclerc, except that it was. It cost him a few seconds, and that may have been the difference between first and fourth place, though strategists differ on opinions on this.
This line-up at the top of the heap has marked many of the last several races, but rather than seeing up-and-comer Leclerc on the podium, rookie and managerial mistakes seem to have kept him from the top spot.
“I think I still need to do some work, in the race especially,” a humbled and remarkably honest Leclerc told Sky Sports after the race. “OK the strategy has not been good but I should have come on the radio and asked for something and be more decisive to help the team make the right decision. I need to learn from that and hopefully it will come with time.”
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