In a highly strategic move, Monaco has acquired 20% of the capital of the Société du Port de Cap d’Ail, putting the country in a position to be part of the management of the harbour and it’s infrastructure in coming years.
Perched just on the border between France and Monaco and just a stone’s throw from Fontvieille sits the 300 slip Port of Cap d’Ail. The prime position is useful for the Monegasque economy and the authorities of Cap d’Ail, and Monaco have comfortably rumbled along for years with a concession contract benefitting both parties.
This contract is due to end in 2027 though, and in an effort to secure the best possible scenario when it does, Monaco has purchased a stake in the port. This is mainly to ensure the government has some say in what happens next, especially as other European tenders will be applying for access at the same time.
This procurement does not entitle Monaco to decision-making capabilities or give it a special management role, but it does give it a stronger presence and relationship. Additionally, it gives the country a right to assert itself on certain points as well as have a voice.
The Port of Cap d’Ail is just one harbour in the past year to have a Monaco connection. A concession was also bought for Cala Del Forte in Ventimiglia last summer and administrators from the Port of Beaulieu-sur-Mer and Monaco have also been in rapprochement talks for the same reasons. The Beaulieu plan fell through in the end as the two sides were unable to come to mutually advantageous terms.
AS Monaco went toe to toe on Saturday night in a home game against Stade de Reims and both sides were in it to win it leaving the score in a 1-1 draw.
The Red and Whites are on a roll with their fifth straight unbeaten match, this time against Stade de Reims. The two teams are neck and neck in the standings. Monaco sits in seventh place whilst Reims is a hair behind in eighth, having made this evenly matched battle all the more exciting.
The game started with a delay due to a power failure, but once things got started, they moved at lightning speed. Reims came out punching, with Touré and Kamara taking shots on goal in the early minutes. Lecomte handily deflected, but this didn’t deter the out-of towners. Baldé, who was seriously on fire, came at Reims three times but was always thwarted. A Golovin-Ben Yedder one-two almost led to a goal, but this first quarter remained very much a match between goalkeepers.
It wasn’t until a half hour in that the match broke open. Wissam Ben Yedder, on a penalty kick, a made a brilliant shot hard to the left, opening scoring for the game. Not long after, Fofana was perilously close to making it 2-0 but Rajkovic was Johnny on the spot and prevented the goal. Then just before the break, Bakayoko made a powerful shot, but the Reims goalie dove perfectly to block.
After halftime, Reims’ Tasos Donis touched the post, but couldn’t make it happen. Just minutes later Lecomte was forced to intervene on a header by Foket. But this march on Monaco couldn’t be stopped. Around the hour mark, Reims found their goal. Kamara makes a low shot from the corner, surprising the Red and White’s goalkeeper, evening up the game 1-1.
It wasn’t until 15 minutes later that another attempt was made, again by Reims, though this time it went over the posts. With eight minutes to go, Golovin made an excellent shot on goal, but Rajkovic was there to stop him.
Newcomer Aurélien Tchouaméni, playing his first minutes with the club, had a chance from distance in the 86th, but the ball was deflected and hung in the box. Ben Yedder found himself alone in front of goal and collided with Rajkovic. Then Dia failed to beat Lecomte with a big lob.
The game ended in a draw, and a respectable game was played by both sides.
“I think we had a good game. We had many chances”, said Coach Moreno after the match. “We took risks to go for the victory. We are second among all the teams in the league in terms of opportunities to score against them this season. We must not forget that this is the best defence in the championship.”
The 34% of delegates up for grabs in the Democrat candidacy race on ‘Super Tuesday’ will be the main focus for investors this week. While senator Bernie Sanders is leading the pack, only 5% of the delegates have been contested. With the key contenders focusing their campaigns on 3rd March, Tuesday’s results will be of great importance.
On the data front, the focus on the first three days of the week will be February final purchasing managers’ index readings from the UK, eurozone, US and China. In the flash estimates, the two superpowers started to stutter in the backdrop of Covid-19. While the UK and eurozone held up, anecdotal evidence from businesses pointed to the Coronavirus outbreak impacting them negatively, with stretched supply chains.
January money and credit data from the Bank of England on Monday reveals if mortgage approvals and lending mirrored the recent boom in housing survey data, as well as the health of consumer credit growth.
Ending the week is February US non-farm payrolls data and trade numbers from China.
An impressive US employment reading in January of 225,000 came off the back of average jobs growth of 175,000 per month in 2019. Average earnings also moved back to 3.1% after dipping to 2.9% in December. Consensus is for employment to grow by 173,000 in February and earnings growth of 3.2%.
In January, China’s imports rose strongly relative to exports, signaling strong domestic demand. However, February is unlikely to continue this trend in the backdrop of coronavirus outbreak and raises questions over China’s ability to honour its “phase one” commitments at the end of February.
The almighty dollar
The US dollar (USD) has performed strongly across the board this year, breaching levels last seen in October in recent weeks. Driving USD strength has been robust economic growth, safe-haven flows amid previous Iran tensions, the Covid-19 epidemic and the dollar’s attractive yield relative to other currencies in the ten largest economies, or the G10.
Most market participants envisioned a weaker USD in 2020 and so the recent outperformance would have come as a surprise. Whilst the fundamentals of the US economy appear healthy and would suggest that the recent move has legs, we highlight that the 2020 elections and the uncertainty that comes with this could provide some volatility.
Furthermore, should inflation continue to remain below target and the global economy worsens, an interest rate cut by the US Federal Reserve cannot be ruled out. Such a move may limit the attractiveness of the dollar in the medium term. For more information contact Barclays Private Bank in Monaco by clicking here or on +377 93 15 35 35
Hello ladies, time to treat yourself with things that make you feel good. I call my best medicine ‘The three magic S’s: Sport, Salon, Spa!’ So, here are my favourite addresses in Monaco for beauty and wellness routines.
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Esthe Coach Beauty Institute by Madame Bottau
I love this institute for their advanced technologies and product lines. My favorite treatments: Hydrafacial
This new facial treatment is purifying, moisturising and anti-ageing. Equipped with a tip that propels a complex of vitamins, and composed of several steps, this treatment will initially eliminate dead cells then clean the pores by sucking up impurities. The skin therapist then applies moisturising and antioxidant solutions for a plump and radiant effect.
The result is spectacular after just one session and doesn’t leave any skin irritations, so it’s perfect the day before a special event. I always recommend waiting 24 hours to apply make-up, in order to let the skin breath. Emsculpt
This machine is a non-invasive method that can help you increase muscle mass and lose fat. Perfect for abs and buttocks area. My favorite products
Dermatologica: Pre-clean balm to remove make-up, followed by Essential Cleansing Solution.
Zo Skin Health by Zein Obaji: Dr. Zein Obagi ,founder of the Obagi skin care line, sold the Obagi line and all the rights to create a new brand called ZO Skin Health, with two lines: ZO Medical Products and ZO Skin Health products. ZO Medical products may only be distributed by a doctor. Esthe Coach is offering the complete lines of ZO Skin Health. My must-have products ComplexionRenewalPads, to remove impurities. Radical Night Repair cream 1% Retinol, to apply twice a week at night. Daily Powder Defence cream, to apply day and night. Verso is a Swedish skincare brand, that features a patented and new formula that is eight times more potent but half as aggressive than typical Retinol or Vitamin A – the nutrient that is proven to help in the reduction of ageing signs while stimulating the production of collagen and hyaluronic acid in the skin.
My must-have of this line is the Day and Night Cream for daily use.
Thirty Nine – Private Members Sport Club
Founded by former Rugby player Ross Beattie, this centre is made for professional and motivated sporty people. Equipped with sophisticated machines of the newest technology, with altitude rooms and a wide range of group classes including ballet barre, TRX, tabata, boxing and pilates. The facility is offering many other things beside the sport-floor. Enjoy a healthy salad, eggs or vegan chocolate cookie at the dining and social area for in-guests only, or get pampered at the beauty salon by Biologique Recherche trained therapists who will build your customised face and body treatments.
My preferred workouts to stay slim and shaped:
Box with coach Jerry or Fabrice
Bootcamp and spinning with coach Jenna
TRX with coach Benjamin or Jenna
Victoria Silvstedt and Isabella Marino at Monte Carlo Bay Hotel Spa
Monte Carlo Bay Hotel Spa By Cinq Mondes
I love to spend my day off at the spa. I start with a healthy lunch accompanied by my beautiful friends on the terrace of the restaurant L’Orange Verte, offering Caribbean and Mediterranean dishes. After alunch in thesun I move down to the spa where I enjoy the hammam and relaxing room with tea. The spa has a long menu of treatments by professional therapists, from massages to facials. I would highly recommend the therapist Carlotta. The covered swimming pool is unique and opens out to an outdoor infinity pool, heated to 28°C all year round.
Why not end the pampering with a brushing at Coolbay Coiffeur and you’re ready for a night out!
As the second wave of coronavirus hit the region, authorities called for calm. National Council President Stéphane Valeri released a statement on Friday, reading in part:
“I understand these fears, which are natural, but it is a question of putting them in perspective with a concrete health reality. In fact, according to most doctors, this virus poses no greater risk than that of major seasonal influenza epidemics.
Mr Valeri urged people in Monaco to “show common sense and responsibility”, adding: “In my opinion, everyone should avoid the anxiety-provoking media and fake news, which could only panic the population and trigger irrational behaviour.” Exaggerated and unnecessary measures, he says, could “disproportionately harm the social life and economic functioning of the Principality. Let’s apply the preventive advice given to us. Let’s not give in to this psychosis and let’s all keep a sense of moderation and reason.”
What’s the situation in Monaco?
At this stage, only one sample from tests taken in Monaco was found to be positive of Covid-19. While the health department, fire brigade and medical teams at the CHPG are on constant alert, the government has recommended that Dr. Eric Voiglio from the Department of Sanitary Action be contacted at 98 98 48 50 or 06 78 63 85 68 for any questions about the coronavirus.
Self-quarantine is being recommended for people returning from risk areas, therefore it is up to individuals to contact the necessary medical inspectors:
Doctor Eric Voiglio (98.98.48.50, on working days – evoiglio@gouv.mc),
Doctor Julie Biga (98.98.44.35, on working days – jbiga@gouv.mc).
After speaking with the patient, doctors will issue a certificate justifying absence from work, triggering immediate social security payments to cover loss of income. The same principal applies for the self-employed in Monaco.
In general, the Princely Government recommends temporary telework.
Events
The government has ordered that a basketball match between AS Monaco and Unics Kazan on Wednesday 4th March be postponed or played behind closed doors.
But Monegasque authorities are not recommending, at this stage, cancellations or postponements of other events. It does ask that a number of precautions be taken, however:
Organisers are advised not to invite people from exposed areas.
Hydroalcoholic solutions should be made available and the premises cleaned frequently.
The government says these measures are subject to change depending on the evolution of the health situation. Photo: Pixabay
When will it end?
If containment efforts fail and this indeed becomes a pandemic, there are two ways that it could end, according to the experts. Either enough people will develop immunity — through infection or vaccination — that the virus will stop transmitting and is eliminated, or the virus will continue to circulate and establish itself as a common respiratory virus.
If SARS-CoV-2 is like common strains of the flu (or like other coronaviruses that cause the common cold), there’s also a chance that the number of infections may die down as the weather warms up.
Even if we manage to quench this virus, it might turn into a seasonal disease, making a comeback every year like other seasonal diseases such as the flu or colds. In that case, it could have less of an impact during subsequent circulations because more people will have built up immunity. Although it is still unclear if humans can become reinfected with this virus.
Confirmed cases
A woman in her 80s has reportedly become the third person in France to die of coronavirus. The woman is believed to be from Crépy-en-Valois, the same town as the second victim, a 60-year-old teacher, who died on 26th February. The first victim of the virus in France was an elderly tourist from China who died on 14th February.
France’s Ministry of Health said on Monday that 116 patients are being treated in hospital for the illness.
Read more: Monaco man tests positive for coronavirus
The Monaco Scientific Centre, the Oceanographic Institute and the Prince Albert II Foundation have joined forces to publish a work on coral and reef protection.
They’re not called “Million Dollar Assets” for nothing. Coral reefs are big business, pulling in an estimated US$36 billion per year for roughly 70 countries around the globe. They attract scuba divers and casual visitors alike, harbour countless species of fish and stop coastline erosion better than any man-made barrier ever could. But they are dying at an alarming rate, endangering fragile ecosystems worldwide and, some experts say, putting us at risk of a major catastrophe.
As global warming threatens their very existence, the general population knows little to nothing of the threat. A trifecta of sources is looking to change that. The Monaco Scientific Centre, the Oceanographic Institute and the Prince Albert II Foundation have published a study explaining the perilous situation of coral reefs, as well as offering solutions to be implemented in order to protect them.
Entitled ‘Coral, a treasure to be preserved’, the collaborative effort comes from the hard work of Professor Denis Allemand, Scientific Director of the Monaco Scientific Centre, Robert Calcagno, Director General of the Oceanographic Institute, and HE Bernard Fautrier, Special Advisor to HSH Prince Albert II of Monaco in charge of environmental issues.
The publication is another demonstration of Monaco’s ongoing commitment to the environment, particularly the seas, and even has the personal involvement of HSH Prince Albert II, who is known for his passion in this area at home and worldwide.
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