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Day: 27 January 2020

Government urges travellers to avoid coronavirus-affected areas

by: Stephanie Horsman
27/01/2020

Three Chinese nationals have been hospitalised in France after falling ill with the Wuhan coronavirus, while one suspected case in Italy is yet to be confirmed. The Monegasque government says there is no need for alarm, however people should avoid travelling to affected areas in China unless absolutely necessary.  

French authorities have revealed that two of the patients are in Paris and the third is in Bordeaux. None had reportedly shown symptoms prior to arriving in France. The Italian government is investigating a suspected case of the virus in a woman who recently returned to Rome from China and is experiencing flu-like symptoms.

China said on Monday that the death toll from the deadly coronavirus outbreak jumped to 81 as the hard-hit province of Hubei announced 24 new fatalities and expanded measures to keep people at home during what is usually the country’s biggest holiday season.

The total number of confirmed cases nationwide rose sharply to 2,744.

The cases in France put a fine point on the limitations of screening passengers arriving from Chinese airports. Temperature scanners are being used at several European hubs, but France is not amongst them. The efficiency of this method is questionable however as many of those infected take several days to show outward signs of the illness.

According to the World Health Organisation (WHO), coronaviruses are a family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS).
A new coronavirus, identified by Chinese authorities on 7th January and currently named 2019-nCoV, has not been previously identified in humans.
According to the WHO, signs of infection include fever, cough, shortness of breath and breathing difficulties.
In more severe cases, it can lead to pneumonia, severe acute respiratory syndrome, kidney failure and even death.

The Department of Social Affairs and Health in Monaco says it is staying on top of the situation through real-time updates from the World Health Organisation and information provided by the French and Italian Ministries of Health. It says the situation has not yet deteriorated into an international public health emergency.  

“Only people exposed for less than 14 days, having stayed in China or having been in close contact with a person infected with the virus and having a low respiratory infection (cough and fever) are considered suspicious and should consult a doctor, as soon as possible,” said the government in a statement. “It is advisable to avoid going to the areas in question if travel is not essential.”

Photo: Pixabay

 

 

Markets weekly

by:
27/01/2020

After a busy two weeks of quarterly corporate earnings data, this week has some key economic data points to watch out for.
On Tuesday, the January Nationwide house price index data for the UK is published, which may reveal the extent of any initial post-election bounce in activity in the housing market.
Undoubtedly, top of investors’ calendar is the US Federal Reserve (Fed) and the Bank of England (BOE) policy meetings on Wednesday and Thursday respectively. Whilst the market believes that the Fed has accomplished its “insurance cut” mission, and will leave interest rates unchanged, predicting the outcome of the BOE meeting is tougher given weak pre-election data and lack of clarity since.
The fourth-quarter (Q4) flash estimate of US gross domestic product (GDP) is revealed on Thursday. On a seasonally-adjusted annual rate basis, consensus is for an unchanged reading from the previous quarter at 2.1%.
Finally, eurozone preliminary Q4 GDP data is announced on Friday and will show whether growth has started to recover since news on the phase one trade deal and Brexit uncertainty reduced. Subdued inflation remains a key talking point and the week ends with January’s flash eurozone harmonised index of consumer prices and December’s US core personal consumption expenditure index data. Consensus for the latter is for a 0.1pp rise to 0.2% on a month-on-month basis.

Climate change: time for investors to evolve

The last decade was the warmest since records began in 1850 and projections anticipate that temperatures will get hotter still.
Climate change has become a priority for many financiers, business leaders and politicians alike. For instance, climate change is a focus topic at this month’s World Economic Forum in Davos. However, solutions to one of the world’s most pressing challenges may not be emerging fast enough.
The increase in average temperatures is the primary indicator of climate change and driver of many of its effects. Since 1850, 17 of the warmest years on record have occurred in the last 18 years. The world is on average one degree Celsius hotter than it was between 1850 and 1900 (see chart). An increase of one additional degree to average annual temperatures is seen as the threshold to “severe, widespread, and irreversible” effects of a climate breakdown.
In addition to the temperature record, ocean temperatures last year were the highest on record – leading to more ocean acidification, sea-level rise and extreme weather. Both of these measures indicate that the “climate crisis” has reached a new level and rapid measures are needed to speed up the process of cutting greenhouse gas emissions.
With climate seemingly inevitable in an uncertain world, investors can no longer disregard the risks when making investment decisions. Industries and companies working towards reducing the impact of climate change, accelerating energy transition and improving infrastructure are likely to profit the most from increased spending and accommodative policy measures focused around climate change.
For more information contact Barclays Private Bank in Monaco by clicking here or on +377 93 15 35 35
 
 

Thierry Neuville’s electrifying win at Monte-Carlo Rally

by: Stephanie Horsman
27/01/2020

Thierry Neuville has snatched victory from Toyota’s defending champ Sebastien Ogier in the 2020 World Rally Championship season-opening Monte-Carlo Rally which ended Sunday.

Neuville was on absolutely brilliant form, winning both stages of the first loop of the race, then beating Ogier by 1.4 seconds in the La Bollene Vesubie-Piera Cava race and following that with an exciting Wolf Power Stage win-by-a-whisper, making the Hyundi i20 driver the victor in all four stages of the day, and giving him his first WRC Monte-Carlo Rally win.

“We had an incredible feeling the last couple of days and we were able to catch back the time,” said Neuville after the win. “We have been chasing this win for a while but we showed our performance this weekend and it’s a great way to start the season.” 

Elfyn Evans went into the day in a solid second place, but fell behind the leader by over 11 seconds, and eventually came in a respectable third after his Toyota teammate.  

Sebastien Loeb had a disappointing day when his Hyundai i20 Coupe’s tire was wrecked during the final stage of the first loop. The best driver in WRC history, therefore, came in sixth overall after fourth place Esapekka Lappi and fifth place Kalle Rovanpera.

Defending champion Ott Tanak suffered a huge crash after he lost control of his Hyundai i20, the car cartwheeling before rolling several metres down an embankment. Tanak and co-driver Martin Jarveoja emerged unscathed from the shunt.
https://www.instagram.com/p/B7sy1vEHJbH/?utm_source=ig_web_copy_link

The race covered a total of over 304 kilometres and was raced from the 23rd to the 26th of January through a variety of challenging conditions. Starting at the Quai Albert 1er and ending at Casino Square, it spanned sixteen stages, some snow and ice covered.

 
Photo: Automobile Club of Monaco
 
 

AS Monaco loses to Strasbourg

by: Stephanie Horsman
27/01/2020

New head coach Robert Moreno is under pressure after Saturday’s 1-3 loss and has conceded that his team needs to “work hard to learn about defence in particular”, highlighting the team’s soft underbelly.

The game started out looking pretty good for the Red and Whites. Two free kicks in the first four minutes, though no conversions, gave the appearance that Strasbourg was out to play aggressively but not necessarily smartly.  

Benjamin Henrichs and Wissam Ben Yedder followed up with two shots on goal in the 5th and 7th minutes, showing spirit and an offence that was clearly on the right track.

Strasbourg were waiting for their chance and it came in the 23rd, when Adrien Thomasson forced an outstanding save from Lecomte. This seemed to put the whole game into slow motion for the next quarter of an hour, when there was a lot of to and fro but not a lot of action. Fast forward to the 40th minute when Ludovic Ajorque left-footed the ball from close range right through the middle.

Monaco monopolised the ball up until the halftime break, but with no breakthroughs.  

The second half opened with Monaco at a 0-1 deficit, and a fired up Adrien Thomasson who made a near-miss attempt just past the hour mark and a beautiful left-footer between the posts at the 66th, putting the Red and Whites at 0-2.

This was quickly followed up eight minutes later by Stefan Mitrovic with a header into the right corner. Thomasson was back and made another try, but Lecomte made the block. 

Finally, in the 86th, it was Stevan Jovetíc who put one in for Monaco assisted by Ben Yedder, though it was a case of too little too late. The final score saw AS Monaco losing 1-3 against a decidedly tough Strasbourg team.

Coach Moreno was clear about his team’s shortcomings in the match, but equally clear that he knows what they are and is aiming to correct them.  

“We weren’t good on the ball today,” he said after the match. “We lacked the quality to make good passes and defend well. I think my players are good. The problem is we have to work hard to learn about defence in particular. We must take a collective approach.”

The next match will see Monaco take on Saint-Etienne for the 16th round of the Coupe de France on Tuesday.

 
Photo: Couresty AS Monaco

Council honours new police cadets

by: Cassandra Tanti
27/01/2020

The National Assembly has welcomed the latest graduates to the Principality’s Police Force.
The 29 graduates, both student lieutenants and student police officers, were received in the Assembly on Friday 24th January by National Council President Stéphane Valeri and a host of dignitaries. They were congratulated on their journey within the Police Academy of Public Safety.
In the presence of executives, including Director of Public Security Richard Marangoni, Deputy Director Régis Bastide and Captain Fréderic Aznar, who was responsible for their training, Mr Valeri paid tribute to the members of this new generation of law enforcement, which he referred to as “one of the best police forces in the world”.

“It is one of the pillars of our society, it ensures everyone’s tranquillity and embodies the image of security attached to Monaco in an uncertain world,” said Mr Valeri. “In our permanent dialogue with the government, be assured that we support the force when necessary so that your human and technical resources are up to your multiple missions, essential for the country.”
Mr Valeri spoke about the deployment on 3rd February of the new ‘Living Environment Preservation Unit’, which will, among other things, regulate noisy vehicles which disturb the peace.
 
Photos courtesy: Conseil National