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Day: 10 February 2020

Grand Ida developer asked to rethink design concept

by: Cassandra Tanti
10/02/2020

The developer behind Monaco’s new residential building ‘Grand Ida’ will come up with alternative designs amid concerns over its “aesthetics”, according to the National Council.
‘Grand Ida’ was one of two building projects put forward by the government and approved by the National Council earlier this month. Designed by Fred Genin of Arch Monaco, for JB Pastor & Fils, the housing project will include a series of separate but interconnected buildings that create green spaces. It is due to be completed by 2023.
But according to a statement released by the National Council on its social media platform, Monaco Mayor Georges Marsan and members of the municipal council would like to clarify some details.
“Contrary to what is indicated, this project, considered in a municipal council public meeting on 14th January, was not voted by unanimity but by a majority of the elected members, three municipal councillors having not (voted). On the other hand, most elected representatives have spoken to express their reservations and criticism about the aesthetics of the project.”

Grand Ida Architectes ARCH, Fred GENIN © JB Pastor & Fils

The ‘Grand Ida’, when completed, will create 140 apartments for state-subsidised housing as well as an additional 20 private homes. It will also include a creche and parking spaces.
“Despite these (concerns), in the case of a public operation with state housing and a municipal nursery expected by our fellow citizens, they wanted to respect their wishes, (so) the municipal elected representatives took the responsibility not to vote against this project,” reads the statement.
Arch architects and Fred Genin are behind a number of developments in Monaco including the new VIP boxes at Stade Louis II, L’Helios residential building, the Monaco Train Station, the Grimaldi Forum and the Quai Kennedy residential building.
According to the council, there seems to have been some confusion as to the finality of the ‘Grand Ida’ design: “While the Princely Government said on 4th February that ‘at this stage of the project, these first sketches do not represent the final project. The aesthetics of buildings is not frozen at this point’, it should be said that the project that had been submitted to the vote of the municipal council had been presented to it as its final version.”
The council ended by saying: “The Municipal Council is pleased, however, that the developer has been asked to review the aesthetics of the project, thus assuming that our comments were heard, but we regret that these were not reflected in recent communications on this subject.”
Read more:

Monaco’s housing of tomorrow

 
 

Eugène Frey merges with João Maria Gusmão at new exhibit

by: Stephanie Horsman
10/02/2020

The New National Museum is hosting Luminous Decors, an exhibition by artist Eugène Frey, a true pioneer from the early days of cinema and shadow theatre, and of João Maria Gusmão, whose work is inspired by the “magic lanterns” of old.  

Luminous Decors is a celebration of the work of painter-cum-visual artist Eugène Frey.  Frey was born in Brussels in 1864 and found himself immersed in the world of the theatre and burgeoning cinema industries that were quickly changing the way people were being entertained.

Near the turn of the 20th century, he developed a unique process of “transforming light sets” that soon became the gold standard for theatre and operatic stages. Using an elaborate system of projection lanterns that simultaneously diffused light onto a series of painted glass paintings, he created the first moving decoration, a completely innovative thing at the time.  

He was soon scouted by Raoul Gunsbourg from the Monte-Carlo Opera, and they continued their work together for the next quarter century.

Portuguese artist Gusmão has long been fascinated by the old techniques using magic lanterns for projection. Using his works and Frey’s combined, the Chief Curator of the New National Museum, Célia Bernasconi, has brought both artists creations together to put on this event.

The exhibit spans three full floors of the museum and will give the public a glimpse at various Frey productions, from shadow theatre to major works for the Monte-Carlo Opera, notably huge hits of the time such as ‘Valkyrie’ and ‘La Damnation de Faust’, all dialoguing with the colourful projections of Gusmão.

The show runs until 20th May.

 

PHOTO: ©Michael Alesi/Communications Dept

 
 

AS Monaco pulls off last minute coup

by: Stephanie Horsman
10/02/2020

It was a one-two punch in the last minutes of the game that turned the tables for AS Monaco in a hard-fought match against Amiens on Saturday.

Monaco’s dynamic duo, Wissam Ben Yedder and Islam Slimani, saved the day – or evening as it were – on Saturday night in a nail biting away game against Amiens. Monaco’s standing in Ligue 1 play is slowly creeping up, despite some recent setbacks putting them in 7th place, just one point behind Strasbourg.

The match didn’t start out so well for the Red and Whites, as Amiens’ Serhou Guirassy slipped one between the posts at just nine minutes in. Golovin reacted quickly but found his path blocked. Jovetic then tried it on in the 16th, but not no avail. A header by Baldé in the 24th went a bit too high, though he was not deterred. Two minutes later, he made a shot on goal, but Amiens’ goalie Gurtner was Johnny on the spot and batted it away.

Just before halftime, it was Jovetic who made another gallant effort on a pass from Ben Yedder, but Gurtner was not to be overrun. 

After the break, the Red and Whites felt the pressure, as shown by a missed free shot by Jovetic at the 53rdminute. Fofana then made a fantastic shot but was repelled by Gurtner. Coach Moreno replaced Baldé with Slimani after this, and though it took him a while to get his sea legs, by the 75th minute he was full steam ahead. He made a play on goal in the 75th, and managed to escape an obvious penalty, but still there was nothing to show for the efforts.  

Finally, in the 85th minute of play, a magical volley led to Wissam Ben Yedder knocking one between the poles, tying up the game and putting Amiens on the defence. Forcing the game into extra time, Islam Slimani made a near-perfect header on a pass from Fabregas which put Monaco in the lead. His return to the pitch was indeed a triumph, and AS Monaco was able to walk away with a second win in a row.

The Red and Whites play again on Friday against Montpellier at home at Stade Louis II.

 

Photo courtesy: AS Monaco
 
 

Monaco’s new bike rules

by: Stephanie Horsman
10/02/2020

Compulsory helmets for young cyclists and electric scooter users are among a raft of new traffic rules being introduced by the Prince’s government.
As the popularity of low-polluting electric bicycles and Personal Displacement Equipment (EDP) grows, so too does the need for guidelines to ensure the roads remain safe for all users.
A harmonious coexistence with conventional means of transport in terms of security, equipment, sharing of public space and road improvements have been addressed by the government and several measures have been presented to the press.
Compulsory use of helmets for all cyclists up to the age of 18, authorisation for bikes to use bus lanes, and a lowering of the age for Monabike usage from 16 to 14 are among the new transport rules.
“The Prince’s Government relied on the expertise of around 40 representatives of institutions and the voluntary sector to conduct a study, the objective of which was to define rules of use in order to improve both mobility already in place and the safety of all users,” said Minister of Equipment, Environment and Town Planning Marie-Pierre Gramaglia.
Use of electric scooters has also now been authorised, given certain rules are adhered to: retro-reflective clothing or equipment must be used; helmets are compulsory for users up to age 18; the e-scooters must have horns, lights and a reflective device; and they may be ridden on roadways, bus lanes and cycling paths, but are prohibited on pedestrian pavements unless being pushed by hand.
Skateboards, rollerblades and regular scooters are considered part of pedestrian traffic and are therefore only allowed to be used on sidewalks. Hoverboards, segways and unicycles are not allowed on roads, but can be used on cycle paths.
Implementation of these new rules will come into effect in the next few weeks.
 
Photo: Marie-Pierre Gramaglia, Minister of Equipment, Environment and Town Planning, and Patrice Cellario, Minister of the Interior met with the press last week to go over the new traffic rules relating to bikes and EDP’s. ©Michael Alesi/Communication Dept
 
 

Markets weekly

by:
10/02/2020

The financial markets’ focus this week will remain divided between economic fundamentals and the uncertainty around the coronavirus outbreak. On the data front, the week is due to be relatively quiet.
The UK gross domestic product data (GDP) for the final three months of last year will confirm how much output was boosted by December’s election result. The UK’s business sector has shown signs of recovery, prompting the Bank of England (BOE) to keep interest rates on hold last month at 0.75%. However, the BOE downgraded its long-term prospects for the economy by an average growth rate of 1.1% over the next three years. With fourth-quarter (Q4) UK GDP figures being published on Tuesday, investors will gain more insight into the health of the economy.
January’s US consumer price index (CPI) on Thursday is probably the most significant American data release next week. The index will show if the downward trend in prices persists, despite consumers experiencing real earnings strength amidst a tight jobs market. Indeed, inflation remaining below the central bank’s 2.0% target, despite three rate cuts from the US Federal Reserve (Fed) in 2019, is a concern for Chairman Jerome Powell, as he noted in last month’s Fed meeting.
Friday’s US retail sales data for January will reveal if consumer spending started 2020 strongly, after easing in the previous two quarters. In December, growth was 0.3% on a month-on-month basis and consensus is for the same reading again in January.
Also on Friday, Germany reports Q4 GDP numbers. The export-heavy economy struggled significantly in 2019 as trade tensions remained heightened. That said, the economy avoided a technical recession, or output contracting for two consecutive quarters, and Q4 will reveal if news on “phase one” of a US-China trade deal helped alleviate some of the pressures faced.

Mixed earnings season warrants caution

While it’s still early days in Europe, the US earnings season for the final three months of 2019 enters its final stretch with around 60% of companies having unveiled results. So far performance can best be described as “mixed”.
On one hand, as we expected, US companies beat analysts’ expectations once again and are on track to deliver around 2% earnings growth for the fourth quarter. On the other hand, 2020 estimates have bled lower with many reluctant to upgrade guidance in the wake of the coronavirus outbreak in China. Yet, after a short-lived period of consolidation, equity markets are back to posting all-time highs.
The discrepancy between rising share prices and weaker fundamentals (or earnings forecasts for 2020) has pushed valuations significantly above their long-term average (see chart). In our view, such valuation levels leave American equities with very little room for disappointment.

Whether it’s a function of the “known-unknowns”, like this year’s US election, or completely unexpected events as already experienced with the Middle East flare up and the coronavirus, volatility spikes are likely to be more frequent and possibly more pronounced.
While central banks’ liquidity support should prevent significant and long-lasting drawdowns, we believe investors should get ready for a bumpier ride in 2020. First and foremost, this means ensuring proper diversification across asset classes and taking advantage of pullbacks when they present themselves. It also means exploring ways to use higher volatility to enhance, protect and diversify portfolio returns.
 
For more information contact Barclays Private Bank in Monaco by clicking here or on +377 93 15 35 35
 
 

Pet travel post-Brexit

by: Cassandra Tanti
10/02/2020

Trudie Porter from easyPet explains how to travel between the European Union and the UK with pets now Brexit has become a reality.

Owners are understandably concerned and somewhat confused regarding any changes in the pet travel requirements following Brexit. Here is some information based on what we know so far:

Assuming that a deal is agreed by the end of the transition period nothing will change. Owners can continue to travel with their pets between the UK and the EU under the current rules using either a pet passport issued in the UK or another EU country.

The latest advice received from the Animal and Plant Health Agency (APHA), an executive agency sponsored by DEFRA is as follows:

“Our current position is that we will continue to operate as we do currently until the end of the transition period. Export conditions and paperwork requirements are expected to stay the same until either the end of the transition period or a deal is agreed.”

Pet travel from the EU to the UK

If you live or spend time in the EU and plan to travel with your pet after Brexit, using a GB issued pet passport, you will need to speak to your vet to find out about the effect of Brexit and ensure that you comply with PETS.

Alternatively, if your pet has a passport issued by an EU member state, you will be able to use it to bring your pet to the UK. You will also be able to use it to return to the EU provided that your pet has had a successful rabies antibody test.

If the sample is taken in the UK there will be a three month wait from the date of the extraction of the blood sample before travel.
However, if the blood sample is extracted and tested in the EU before travel to the UK, the three month wait will not apply.

Pet travel from the UK to the EU

If your pet has a UK issued passport and to ensure that your pet can travel from the UK to the EU after the Brexit transition period, contact your vet at least four months before your travel date to get the latest information.

Assuming the UK leaves the EU with a deal, it will become what is known under PETS as a third country with a Part 1 or a Part 2 listing.
You will need to obtain documents from an official vet that replace your pet’s UK issued passport.

Part 1 listed country

If the UK becomes a Part 1 listed country it will operate under the same PETS rules as EU member states but with a different type of passport – the UK pet passport. You will be able to have this for repeat travel to the EU provided that you keep your pet’s rabies vaccinations up to date.

Part 2 listed country
If the UK becomes a Part 2 listed country you will need to have your pet microchipped and vaccinated against rabies at least 21 days before travel, as with the current PETS requirements.

In addition, you will need to visit an official vet no more than 10 days before the date of travel to obtain an Animal Health Certificate (AHC) confirming that your pet has been microchipped and vaccinated against rabies.

You will need a new AHC for every trip to an EU country. You will also need to keep your pet’s rabies vaccinations up to date and ensure that dogs receive tapeworm treatment before travel.


Unlisted country in the event of a no-deal Brexit

In the event the UK leaves the UK without a deal, it will probably be treated as an unlisted country under PETS and a current UK issued pet passport will not be valid for travel to the EU.
Owners will need to allow at least four months before the date of travel allowing time for:

  • A microchip and a rabies vaccination;
  • A blood sample to be extracted no less than one month after the rabies vaccination and analysed;
  • A three month wait from the date of the extraction of the blood sample.

This is assuming a successful titre level of 0.5 or above.
Please note that this rabies antibody test and three month wait is only required once provided that future rabies vaccinations are administered on or before the ‘valid to’ date.

If the UK leaves the Customs Union

If the UK leaves the Customs Union there will almost certainly be implications for customs and duty on inbound and outbound pets, but it is not certain exactly what those implications will be.

Photos: Pixabay

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