Monaco Private Label and Prince Albert II promote the Principality in Singapore

03/12/2024

A series of recent events in Singapore, organised by the Prince Albert II of Monaco Foundation and attended by members of Monaco Private Label, have showcased the Principality’s commitment to fostering international collaboration while highlighting Monaco’s enduring global appeal through the promotion of its strengths as a place of innovation, investment and philanthropy.

Since its inception in 2009, Monaco Private Label (MPL) has been building a global network aimed at elevating the Principality’s international stature. With nearly 2,000 investment members and business leaders from over 60 countries, today’s MPL serves as an international platform for developing connections and opportunities in business and beyond.

MPL was a key component of a series of events held in Singapore between 26th and 28th November. Organised by the Prince Albert II of Monaco Foundation and attended by Prince Albert II himself, the gatherings marked a significant step in enhancing Monaco’s global attractiveness within the Southeast Asian nation, with key achievements including the establishment of new connections with investors and family offices that position Monaco as an important European investment hub.

The Asian MPL community was also actively engaged through events such as the Ocean Innovators Platform and the Ball in Monaco: Glacier Edition gala, two separate events that focused on critical topics like the blue economy, innovation, and philanthropy. Influential Monegasque figures in Asia were also invited to attend.

See more: The Glaciers gala wraps up Prince Albert II’s Asia-Pacific tour in style

Speaking on the importance of the visit to Singapore, Frédéric Genta, Monaco’s Interministerial Delegate for Attractiveness and Digital Transition, said, “Singapore and Monaco share strategic, economic and philanthropic similarities. As a true economic crossroads, it is essential to intensify relations in this key region.”

Genta accompanied Chloé Leclercq-Boscagli, Director of MPL, on the trip.

The overseas venture also set the stage for a presentation of the upcoming Monaco Day at Davos, an event scheduled to take place within the context of the World Economic Forum in the Swiss city on 23rd January 2025.

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Photo credit: Michael Alesi / Palais Princier de Monaco

France: Public sector strike on Thursday to affect schools and other essential services

by: Stephanie Horsman

03/12/2024

School closures, municipal service disruptions and slower healthcare could all be on the cards if France’s major trade unions go through with their planned strike on Thursday 5th December. The action is being undertaken in response to government rulings on the extension of the controversial three-day waiting period before sick leave is paid out, as well as a reduction in sick pay and job cuts in the public sector.

Seven out of France’s eight major unions – the CGT, CFDT, UNSA, FSU, Solidaires, CFE-CGC and FA-FP – are calling on civil servants to demonstrate on Thursday 5th December in a show of solidarity against a range of recently introduced government policies.

The strike aims to challenge a number of punitive measures affecting civil servants. The reforms under scrutiny include the extension of the waiting period for sick leave to three days, a reduction in sick pay from 100% to 90% and significant job cuts planned for 2025.

These “Kasbarian Reforms” – the name given by the unions to the controversial set of measures being spearheaded by Guillaume Kasbarian, France’s Minister of Civil Service, Simplification and Transformation of Public Action – have sparked widespread outrage.

Meanwhile, Prime Minister Michel Barnier’s announcement of a €1.2 billion cut to the 2025 civil service budget has further fuelled discontent, with unions warning of severe consequences for public services.

In a statement on its website, FSU06 criticised the government’s rhetoric of “debureaucratisation”, describing it as “civil servant bashing” and accusing the administration of scapegoating workers while ignoring systemic fiscal injustices.

SECTORS AFFECTED

Workers from France’s public education sector are expected to be at the heart of the actions, with many elementary schools and crèches likely to remain closed. For schools that remain open, canteens may still be shuttered.

Unions have pointed to the elimination of 4,000 positions in schools and reduced sick leave compensation for teaching and school staff as emblematic of the government’s disregard for the sector’s needs.

Beyond education, certain municipal services will face significant disruptions. Town halls are expected to operate with limited reception capacity, and citizens are advised to postpone administrative tasks. Hospital staff are participating in the strike too, although emergency care will remain operational, and railway workers represented by participating unions are also expected to join the nationwide action.

In Nice, protestors are set to gather at 10am in the Jardin Albert Ier before marching through Avenue de Verdun, Avenue Jean Médecin and Avenue de la Libération. Similar marches are being planned in the Bouches-du-Rhône, Alpes-de-Haute-Provence, Hautes-Alpes and Vaucluse departments.

MORE TO COME?

The unions are framing the upcoming strike as the launchpad for sustained resistance through the end of the year, with a warning that Thursday’s strike may be only the beginning.

The rallying cry of “Everyone on strike on 5th December” reflects their combined determination to resist the government’s reforms. In addition to opposing Kasbarian’s measures, unions are calling for salary increases, the restoration of the guaranteed individual purchasing power allowance (GIPA) and an official status for assistants for pupils with disabilities.

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Photo credit: Victor Salazar, Pixabay

Prince Albert II gets behind the wheel of Pioneer 25 race car at Monaco Hydrogen Forum

by: Stephanie Horsman

03/12/2024

Prince Albert II has kicked off the 2024 Monaco Hydrogen Alliance Forum by combining two of his greatest passions: cars and clean energy. To signal the launch of the event, the Prince got behind the wheel of Extreme H’s prototype hydrogen-powered race car, the Pioneer 25, taking the innovative vehicle on a drive from the Palais Princier to the doors of the event.

The Monaco Hydrogen Alliance is a local association that brings together industry leaders and policymakers with the goal of encouraging the global adoption of hydrogen power. This pioneering organisation also spearheads the Monaco Hydrogen Forum, now in its third year, an event that promotes the use of hydrogen as a more sustainable alternative to traditional fuels in land, air and maritime transportation.

The 2024 event, which is taking place between 2nd and 3rd December at the Hotel Hermitage, is showcasing a range of new technologies and developments in the sector, including one of the latest innovations in hydrogen-powered transport: the Pioneer 25 race car from Extreme H.

Prince Albert II took the Pioneer 25 on a drive through the Principality’s streets, from the Palais Princier to the Hotel Hermitage, which is hosting the 2024 Monaco Hydrogen Forum. Photo source: Extreme H

“Hydrogen represents an important pathway to a sustainable future, offering solutions to reduce emissions across multiple sectors,” said Prince Albert in his opening address at the event. “It was my pleasure to be one of the first to try out this remarkable race car, here in Monaco, a country that is proud to host the most iconic racing across Formula 1 and Formula E. As Extreme H showcases, innovation in motorsport can be a driving force for global progress, inspiring action far beyond the racetrack.”

The Pioneer 25, designed by Spark Racing Technology and powered by a Symbio 75kW hydrogen fuel cell, is an incredible example of cutting-edge, zero-emissions technology. The hydrogen fuel cell, which has been rigorously tested, powers a battery pack produced by Fortescue ZERO. With a peak output of 550hp, the car can accelerate from 0 to 100 kph in an astounding 4.5 seconds, highlighting hydrogen’s potential to redefine high-performance mobility.

Extreme H, the world’s first hydrogen-powered motorsport championship, will debut in 2025, building on the success of its electric predecessor, Extreme E.

Extreme E, the off-road electric SUV racing series that competes “in the most remote corners of the planet impacted by climate change,” is evolving into Extreme H, swapping electric cars for hydrogen fuel cell-powered cars. Extreme H’s official launch took place on June 27, 2024 in London.

Alejandro Agag, the founder and CEO of Extreme H, has recognised the significance of Prince Albert’s participation, saying, “Prince Albert II’s leadership in environmental causes inspires us all. His support for Extreme H reinforces the message that hydrogen innovation can unlock solutions to some of the world’s most pressing challenges.”

The Prince’s symbolic drive highlights hydrogen’s transformative potential and Monaco’s position as a global centre for clean energy innovation.

To find out more about the Monaco Hydrogen Alliance and the Forum, click here.

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Main photo credit: Axel Bastello / Michael Alesi / Palais Princier de Monaco

100 young musicians to star in the Académie Rainier III’s Christmas concert

by: Elsa Carpenter

03/12/2024

Students from across the Académie Rainier III’s singing, brass and orchestral classes will come together for the music school’s traditional Christmas concert later this month. The open-to-the-public event promises to be a magical evening of festive hits and carolling classics.

At 6.30pm on Thursday 19th December, more than 100 students from the Académie Rainier III will perform a Christmas concert at the Espace Léo Ferré.

Under the guidance of their teachers, members of the Academy’s Choir, Brass Ensemble and various orchestras will present a selection of timeless Christmas tunes spanning the ages.

The event is more than just a festive occasion—it’s also an opportunity for the Principality’s young musical talents to showcase the hard work they have put in since the start of the 2024/25 school year. For the audience, it’s a chance to show their support for the students while enjoying festive tunes with family and friends.

Admission is free, but reservations are required. To reserve seats for the show, contact academie@mairie.mc.

Photo source: Mairie de Monaco

Live music venue New Moods shines at grand relaunch

by: Niki Borisova

02/12/2024

After a 13-year absence, the much-loved live music venue of Moods has been reopened with an exciting new look. Prince Albert II and Princess Charlene were on hand to formally inaugurate the iconic address, which will begin welcoming the public later this week.

Just over a year since the unveiling of the Café de Paris, it was the turn of Moods, now known as New Moods, to open its doors once again on Saturday 30th November.

In the presence of Prince Albert and Princess Charlene, Monte-Carlo Société des Bains de Mer CEO Stéphane Valeri proudly unveiled the venue that heralds a new era of live music and stand-up comedy in the Principality at an exclusive press event attended by Monaco Life.

He described the relaunch of this celebrated address as an emotional moment, particularly as the renovations have paid tribute to Jean-René Palacio, the visionary behind the original Moods.

“This project of reviving Moods was close to my heart, as it was for so many residents and lovers of the Principality,” he said. “You may have noticed upon entering the New Moods that an homage has been made to Jean-René Palacio, with two of his electric guitars on display. He would have been proud of the reopening of this unique venue.”

The New Moods retains cherished elements of the original venue, which operated for just three years before closing 13 years ago, but the new-look site also embraces modern touches.

“It takes the best of the old Moods and updates it to contemporary tastes,” Valeri explained.

Once fully open to the public from 5th December, the venue will host a diverse programme of live performances, with tribute acts celebrating iconic artists such as The Beatles, Bruce Springsteen and Queen, as well as original performances by local and international talents.

The artistic programming is being led by Alfonso Ciulla, SBM’s Artistic Director, and includes a foray into stand-up comedy, with Hassan de Monaco set to perform later this month.

Gastronomy is also an important facet of New Moods, and Valeri spotlighted the venue’s culinary offerings, which will be crafted by Marcel Ravin, the two Michelin-starred chef of Blue Bay, describing them as “the best finger foods in the world”.

Prince Albert and Princess Charlene, surrounded by key figures from the Principality and SBM, at the grand inauguration of New Moods on 30th November. Photo credit: Manuel Vitali / Monaco Communications Department

As well as being a public venue beneath the Café de Paris, New Moods will be available for private events outside of its public opening days, ensuring its use as a versatile space for corporate and family gatherings.

The venue’s reintroduction is seen as part of SBM’s strategy to enhance Monaco’s cultural offerings, and Valeri expressed optimism about the venue’s prospects, saying, “I have no doubt that the New Moods will be a great success. It is already fully booked for its opening night next Thursday.”

New Moods will be open to the public every Thursday, Friday and Saturday from 6pm till midnight. A rich lineup of live music and entertainment has already been planned through to March 2025.

As Valeri concluded his speech, “Let the show begin!”

For the full programme, click here.

To see more of the reopening of New Moods, watch the Monaco Life Instagram reel below:

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A post shared by Monaco Life | News from Monaco (@monacolife_)

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Photos credit: Manuel Vitali / Monaco Communications Department

Monaco invokes “fraud” to challenge €140 million Esplanade des Pêcheurs penalty

by: Cassandra Tanti

02/12/2024

The Monegasque government has filed an extraordinary appeal with the Supreme Court, seeking to annul a €140 million penalty owed to Caroli Immo in the Esplanade des Pêcheurs case. According to Monaco Matin, the state alleges that the judgment, originally issued in 2018 and reaffirmed in 2020, was the result of fraud orchestrated by the property developer and its legal representatives.

This unprecedented move was one of the final acts of former Minister of State Pierre Dartout, who, on 30th July, filed a detailed dossier accusing Caroli Immo of manipulating the judicial process. The allegations include claims of financial and personal conflicts of interest involving key legal figures, as Monaco Matin reports.

The Supreme Court rulings and the state’s response

In 2018 and 2020, the Supreme Court declared the government’s abandonment of the Esplanade des Pêcheurs project illegal, ordering the state to compensate Caroli Immo nearly €137 million plus interest. However, the government has since resisted executing the ruling. Monaco Matin explains that the state now argues it was deprived of a fair trial due to alleged collusion between Caroli Immo’s lawyers, including Thierry Lacoste—childhood friend of Prince Albert II—and the former Supreme Court president, Didier Linotte.

The government claims its suspicions of impropriety were confirmed after criminal investigations initiated earlier this year. It alleges that Lacoste had concealed his role in the case while maintaining close financial and personal ties with Linotte, raising serious questions about judicial impartiality, Monaco Matin reports.

Allegations of fraud and conflicts of interest

The government’s 60-page submission details purported financial arrangements between Lacoste and another lawyer representing Caroli Immo, which included a shared fee agreement based on the court’s ruling in the developer’s favor. According to Monaco Matin, these fees were tied to a substantial percentage of the compensation awarded, raising ethical concerns.

Furthermore, the state accuses Linotte of accepting favors, such as paid travel and other undisclosed benefits, from individuals connected to the case. It also highlights Linotte’s personal relationship with Lacoste as a factor undermining the court’s neutrality. Monaco Matin notes that the accusations have been described as “shocking” by those implicated, who categorically deny any wrongdoing.

Responses from those involved

Both Lacoste and Linotte have rejected the allegations. Linotte, as reported by Monaco Matin, defended his actions as transparent and professional, asserting that his relationship with Lacoste was no secret. Lacoste, meanwhile, argued that his involvement in the case was appropriate and dismissed the fraud accusations as “bad faith” on the part of the state.

Lacoste further criticized the government for basing its claims on documents allegedly obtained through illegal means, including hacked emails. According to Monaco Matin, he remains adamant that the evidence presented by the state lacks credibility.

Broader implications

This case, as Monaco Matin highlights, has drawn attention to Monaco’s judicial and governance systems, with the stakes reaching beyond the immediate financial implications. The outcome could set a significant precedent for how the Principality handles disputes involving large-scale development projects and the judiciary’s independence.

Month: December 2024

Monaco Private Label and Prince Albert II promote the Principality in Singapore