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Day: 6 December 2024

Monaco passes “fair and enriching” law regulating internships

by: Elsa Carpenter
06/12/2024

The National Council of Monaco has unanimously adopted a bill establishing a comprehensive framework for professional internships that both safeguards the rights of interns and sets out clear rules for businesses.

The passing of Bill No. 1095, which went before Monaco’s National Council on Wednesday 4th December, has established straightforward rules that regulate the internship process for higher education students in the Principality.

Key elements of the new law include: making internships an obligatory part of an academic programme; enforcing the need for a tripartite agreement involving the intern, the host organisation and the educational institution that formalises the responsibilities of all parties; and ensuring that interns who undertake internships lasting more than two months receive mandatory compensation, with a minimum set at 27% of the SMIC (minimum wage).

“The practice of professional internships is a vital step in the educational journey of students and young graduates,” said Christophe Robino, Monaco’s Minister of Social Affairs and Health. “To ensure a fair and enriching experience for interns while safeguarding the interests of businesses, it was deemed necessary to establish legislation with simple and clear rules.”

He added that the new legislation will “establish a legal and ethical framework that provides enhanced protection for interns while maximising the benefits for all parties involved”.

To further safeguard interns, Robino explained, Monaco’s Employment Service will ensure that interns are provided with social security coverage and civil liability insurance throughout their internship period.

Furthermore, in an effort to prevent the misuse and abuse of the internship system, the legislation prohibits organisations from using interns to replace absent employees, take on seasonal jobs or fill permanent roles. It also introduces limits on the number of interns allowed within a single company, depending on the size of the host organisation.

Incentives for businesses

Under the new law, host organisations may qualify for social charge exemptions if the intern’s compensation remains within a certain percentage of the SMIC. This percentage, Robino explained, is still to be determined by ministerial decree.

Ultimately, the new law reflects Monaco’s commitment to fostering high-quality educational and professional opportunities for its students, while promoting and ensuring ethical practices in the workplace.

The legislation does not apply to secondary school training programmes, which are regulated under Law 1334 of July 2007, nor to those in public administration. However, it does apply to higher education training offered in secondary schools, such as BTS programmes.

Read related:

International School of Monaco among Top 15 private schools in Europe

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

 

Photo source: Monaco Communications Department

Rare British stamp collection valued €14.5m on sale at MonacoPhil

by: Stephanie Horsman
06/12/2024

Paul Fraser Collectibles, a leading UK stamp dealer, has announced the sale of the most valuable collection of Great British stamps ever assembled. Valued between €9.6 million and €14.5 million, the British Philatelic Trophy Collection is currently on display at the prestigious MonacoPhil postage stamp event.

Philatelists looking for something truly special should head to the MonacoPhil event, being held at One Monte-Carlo from 5th to 7th December, to view the British Philatelic Trophy Collection, a set of 52 rare and unique antique stamps that showcase the rich history of British philately.

Highlights include the world’s largest surviving block of unused Penny Blacks, which last sold at auction in 2007 for €1.1 million. Additionally, the collection boasts the rarest single GB stamp, the Plate 77 Penny Red, valued at €785,000. Printed in 1864, only nine examples of this stamp exist, with this specimen regarded as the finest among the three held in private collections. Another standout piece is the iconic 1935 2½d Prussian Blue, Britain’s most famous error stamp, priced at €14,500.

In total, the collection is valued between €9.6 million and €14.5 million.

“This is the finest collection of British philatelic trophy assets ever assembled,” says Mike Hall, CEO of Paul Fraser Collectibles. “It includes some of the most elusive and valuable classic British stamp rarities and is worth even more than the sum of its parts. It’s impossible to replicate.”

The Bristol-based company spent years curating the collection, collaborating with prominent philatelic experts worldwide to source these extraordinary items. The collection spans key moments in British postal history, from the introduction of the world’s first postage stamp, the 1840 Penny Black, to later iconic errors and designs that have fascinated collectors for decades.

“The collection tells the important story of the early postal history of Great Britain and how a tiny piece of paper transformed global communications and trade,” adds Hall.

Paul Fraser Collectibles is now accepting offers to purchase the collection, presenting a rare opportunity for collectors to own a piece of history. For more details, click here.

To find out more about the 2024 MonacoPhil event, click here.

Read related:

Commemorative stamp to celebrate the Princess Grace Irish Library’s 40th anniversary

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

 

Photo source: Paul Fraser Collectibles

Prince Albert II attends Monaco’s inaugural Nobel Day 

by: Niki Borisova
06/12/2024

Ahead of the official Nobel Prize award ceremonies, which will take place in Stockholm and Oslo on 10th December, Monaco has paid tribute to Alfred Nobel’s legacy by hosting its own Nobel Day event in the presence of former laureate Professor Didier Queloz and Prince Albert II.

On 5th December, Monaco Life attended the Principality’s inaugural Nobel Day, an event designed to celebrate remarkable achievements in science and literature, held at the Lycée Rainier III auditorium.

The Nobel Prizes, a set of six annual awards, honour significant contributions to humanity across disciplines such as physics, chemistry, physiology or medicine, literature, and economic sciences, as well as peace efforts. The Prizes were formally established in 1901 at the will of Swedish chemist, engineer, and industrialist Alfred Nobel (1833-1896).

Speaking at the recent Monaco tribute event, Prince Albert II noted, “These prizes are not just about recognition; they are a reminder of the responsibility we all share.”

He added, “The Nobel Prize has been instrumental in promoting peace and driving scientific progress throughout history. It pushes us to keep exploring and innovating. Alfred Nobel had a vision of a world where science and peace bring humanity together.”

Exploring new frontiers – and beyond

Following remarks from Sweden’s Ambassador to Monaco, Håkan Åkesson, who reflected on the Swedish origins of the Nobel Prize initiative, 2019 Nobel Prize winner for physics Professor Didier Queloz was invited on stage to deliver an insightful talk on his groundbreaking discovery of the first exoplanet orbiting a sun-like star in 1995.

Professor Queloz, who shared the Nobel Prize with Michel Mayor, reshaped modern astronomy with this milestone, opening new avenues for the study of planetary systems beyond our own.

In his lecture, Professor Queloz introduced the captivated audience to the science of exoplanets, explaining how these celestial bodies, located outside our solar system, have deepened our understanding of planetary formation and the potential for extraterrestrial life. His pioneering work has sparked extensive research and remains central to the search for habitable worlds.

2019 Nobel Prize winner for physics, Professor Queloz, on stage at Monaco’s dedicated Nobel Day event. Photo credit: Michael Alesi / Palais Princier de Monaco

“The absence of proof does not mean proof of absence,” said Professor Queloz, pointing out that the lack of current evidence for extraterrestrial life or specific planetary conditions does not rule out their existence.

Professor Queloz also spoke of how the European Southern Observatory’s Extremely Large Telescope (ELT), set to begin scientific operations in 2027, will significantly enhance our ability to detect and study exoplanets. The ELT will be the largest optical and infrared telescope in the world, enabling astronomers to observe distant celestial objects with unprecedented clarity.

Subsequent presentations included talks by Bernard Mari from the Université Côte d’Azur and Guillaume Stirnemann from École Normale Supérieure (ENS) Paris, which focused on the work of the 2024 Nobel laureates in medicine and chemistry.

Mari explained the work of Victor Ambros and Gary Ruvkun, awarded the Nobel Prize in medicine for discovering microRNA’s role in regulating gene expression, a breakthrough in understanding cellular processes and disease mechanisms.

Meanwhile, Stirnemann discussed the work of chemistry laureates David Baker, who advances computational protein design with applications in medicine, and Demis Hassabis and John Jumper, who created AlphaFold, an AI model that predicts protein structures with transformative potential for drug discovery and molecular biology.

The official Nobel Prize award ceremonies will be held at Stockholm Concert Hall in Sweden on 10th December, while the Peace Prize ceremony will take place at Oslo City Hall in Norway on the same day.

Read related:

Venturi hosts historic visit celebrating Monaco’s lunar endeavours

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

 

Left to right in main photo: Interior Minister Lionel Beffre; Finance and Economy Minister Pierre-André Chiappori; Health and Social Affairs Minister Christophe Robino; Prince Albert II of Monaco; Ambassador of Sweden to Monaco Håkan Åkesson; Professor Didier Queloz; Honorary Consul of Sweden to Monaco Sophie Colette Kraft; and Secretary of State Yvette Lambin-Berti

Photos credit: Michael Alesi / Palais Princier de Monaco

FATF grey list: Monaco holds first assembly meeting

by: Cassandra Tanti
06/12/2024

Monaco’s Coordination Committee on financial crime, led by Minister of State Didier Guillaume, has reviewed key progress in combating money laundering and corruption, aiming to exit FATF’s grey list by May 2025.

On Thursday 5th December, the first assembly of the Coordination and Monitoring Committee for the national strategy to combat money laundering, terrorist financing, the proliferation of weapons of mass destruction, and corruption was held under the presidency of Minister of State Didier Guillaume.

During the meeting, Minister Guillaume acknowledged the significant progress made by state authorities and services over recent months. Key updates included an increase in administrative sanctions by the Directorate of Economic Development, ongoing reviews of penalties imposed in money laundering cases, and a rise in the seizure of assets suspected to originate from illicit activities.

See also: Monaco calls on private sector to flag risks in push to exit FATF grey list

These efforts are part of Monaco’s efforts to exit the Financial Action Task Force (FATF) grey list. As part of this initiative, the Principality is preparing to submit a progress report to FATF, detailing advancements toward the goals set for May 2025 under the Action Plan adopted in June 2024.

Looking ahead, Monaco has already begun laying the groundwork for its 2025-2027 national strategy to further strengthen its anti-money laundering and financial crime framework.

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

See also: 

Monaco added to money laundering ‘grey list’

Photo source: Government Communication Department 

 

Marvin Williams and Valentina Castellani Quinn unite for Hollywood partnership

by: Cassandra Tanti
06/12/2024

Marvin Williams of Big M Entertainment Pictures and Valentina Castellani Quinn of Quinn Studios Entertainment have announced a dynamic joint production and development venture at Sony Pictures Studios, aiming to honour cinematic legacies and create globally impactful films.

Big M Entertainment Pictures, led by Marvin Williams, and Quinn Studios Entertainment, helmed by Valentina Castellani Quinn, have formalised a partnership that will see them co-develop independent film projects from the iconic Sony Pictures Studios lot. The collaboration promises a blend of innovation and heritage, uniting Williams’ creative and business acumen with Castellani Quinn’s deep Hollywood legacy.

Valentina Castellani Quinn says that she is excited at returning to Sony Pictures Studios, a location with personal significance linked to her father-in-law, the legendary Anthony Quinn: “It feels like a full-circle moment as Sony celebrates Columbia Pictures’ 100th anniversary. Developing films here alongside Marvin Williams is a profound continuation of a legacy essential to the art of filmmaking.”

Marvin Williams also expressed his admiration, highlighting Castellani Quinn’s grace and artistry as integral to their joint endeavor. With projects already underway, the duo aims to produce content that resonates with both domestic and international audiences.

Quinn Studios Entertainment has produced acclaimed projects such as the Oscar-nominated The Butterfly’s Dream and the award-winning documentary One Rock Three Religions. Meanwhile, Marvin Williams has contributed to numerous high-profile projects across film, television, and music.

Together, the partnership between Big M Entertainment Pictures and Quinn Studios Entertainment seeks to bridge past and present, celebrating Hollywood’s golden legacy while crafting narratives for a modern audience.

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.

Photo source: Unsplash