Business climate continues to decline

The latest survey by IMSEE has revealed that the business climate continued to weaken in July, though retail trade and the auto commerce and repair sectors saw slight improvements.

The Principality’s official statistical agency reports that business in Monaco was still down as of July, but small improvements in certain sectors were recorded. The synthetic indicator won five points, accredited mainly to the yearly summer sales in July and higher intention of orders.

The balance of opinion on the general outlook for business continues to decline slightly and remains well below normal. Sales balances, after a brutal June which showed their lowest levels, did show a clear, though small, improvement.

Despite the rebound, expected sales are trending low and remain well below average. Inventory levels have fallen compared to long-term averages, whilst order intentions are improving, though at a lower level.

Prices are rising, and the forecast is that this will continue, while employment remains comparable to that of the previous month.

Customers’ payment deadlines are up compared to January when it was down by 23%, whilst those of the suppliers are growing more moderately, though again, below usual averages.

According to the report, people are still avoiding actively going into shops, as is displayed by low levels of attendance due to the health crisis. This is the same situation as the last two months.

 

 

Nice tightens restrictions

The City of Nice has taken further action to limit the rapid spread of Covid-19, toughening rules on socialising and bars.
Faced with a resurgence of the Covid-19 epidemic, Prefect of the Alpes-Maritimes Bernard Gonzalez held a press conference on Friday, during which Mayor of Nice Christian Estrosi outlined new restrictions.
He announced that gatherings of more than 10 people are now banned in parks, beaches and gardens, while Mr Gonzalez reminded families to “protect its most fragile” members.
Bars and other drinking establishments will now have to close their doors from 12.30am. Any music that is amplified outdoors is not allowed.
Large events have a limit of 1,000 people as opposed to the 5,000 maximum previously imposed, and there will also be systematic temperature checks at events and shows.
Finally, the sale of alcohol in stores after 8pm has been banned in an effort to prevent people from drinking in public.
The news comes as the French government asked the Rhône and the Alpes-Maritimes prefects on Thursday to present by Saturday new local measures to curb the circulation of the virus and limit its impact on the health system. France’s Health Minister Olivier Veran said that the Alpes-Maritimes department had nearly reached its limit of available hospital beds.
The new restrictions took effect on Friday.
 

Monaco Maritime Affairs unveils new boat

Vitamar III, the newest vessel to be launched by the Maritime Affairs Department, has been unveiled to much fanfare including a traditional baptism.

The Maritime Affairs Department has added a new multi-use boat to its fleet. On Thursday 17th September, Vitamar III was revealed publicly in the presence of many local dignitaries that included Minister of State Pierre Dartout, Minister of the Environment Marie-Pierre Gramaglia, and Director of Maritime Affairs (DAM) Armelle Roudaut-Lafon.

Madame Roudaut-Lafon gave a speech presenting the new vessel, after which Monseigneur Dominique-Marie David, the Archbishop of Monaco, officially blessed the boat. It was then “baptised” with a bottle of champagne by the ship’s “godmother” Leticia de Massy.

The monohull vessel, built in 2019, was purchased from Transmetal Industries, a shipyard based in the Var, for €1.5 million. The primary functions of the new ship include coastline maintenance, the fight against marine pollution, the preservation of the environment, firefighting assistance, and inspections at sea.

The Vitamar III rounds out the DAM fleet, which also includes two semi-rigid hulled boats, the Sainte-Devote 2 and the Corallium 2, both acquired in 2014.

 

Photo © Manuel Vitali- Communication Department