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Month: May 2026

Monaco Economic Board attends ICC Europe annual meeting in London

by: Cassandra Tanti
04/05/2026

The Monaco Economic Board took part in the ICC Europe annual meeting in London on 21st and 22nd April, joining representatives from more than 26 European countries for two days of high-level discussions on the future of international trade.

The event was organised by ICC United Kingdom, which serves as Regional Coordinator for ICC Europe, bringing together countries from across the continent. Representing the MEB, Deputy CEO and Secretary General of ICC Monaco Justin Highman attended a session at the Palace of Westminster on the first day, including a conference in the House of Lords with ICC United Kingdom Chair Lord Karan Bilimoria and ICC Secretary General John W.H. Denton, alongside key private-sector decision-makers.

Trade in focus

The second day, held in the City of London, centred on ICC Europe’s strategic direction amid growing pressure on multilateral trade frameworks. Discussions addressed regulatory divergence and fragmentation in the global trading system, with business leaders exploring practical ways to maintain stability and resilience in international markets. Delegates also examined how the ICC, which represents 45 million companies across more than 170 countries, is adapting its model with greater emphasis on advisory services, events, and business matchmaking to diversify its revenue streams.

Monaco’s moment

The meeting gave the Monaco Economic Board an opportunity to raise the prospect of Monaco hosting a future ICC Europe annual meeting. Networking sessions produced a number of significant connections, including with Shevaun Haviland, Director General of the British Chambers of Commerce, with whom potential avenues for cooperation were discussed — including participation in upcoming economic events and the possibility of a trade mission to Scotland.

Diplomatic courtesy call

During the trip, Justin Highman was also received at the Monaco Embassy in the United Kingdom for a courtesy meeting, at which prospects for strengthening economic ties through joint initiatives were explored.

The two-day mission reflects the Monaco Economic Board’s broader strategy of reinforcing its role as the Principality’s chamber of commerce through active engagement in leading international economic forums.

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Photo source: MEB

Monaco employment figures: key trends for 2025

by: Virginia D’Umas
04/05/2026

Monaco’s labour market closed the year on a slight downturn, with total employment reaching 77,866 jobs, according to IMSEE’s latest Employment Observatory. The figure represents a 0.7% decrease over the year, driven primarily by a slowdown in the private sector, while public employment continued to expand.

Despite this short-term adjustment, the broader trajectory remains firmly upward. Over the past decade, employment in the Principality has increased by 27.6%, underlining the continued resilience of Monaco’s economy.

Private sector normalises after construction peak

The private sector remains overwhelmingly dominant, accounting for 64,770 salaried jobs—more than 92% of all employees. However, it recorded a 1.3% decline over the year, largely linked to a slowdown in the construction sector following the completion of major development projects.

This cooling effect was not fully offset by gains in other industries, even as Monaco’s service-based economy continued to show relative strength. The tertiary sector still represents the backbone of employment, particularly administrative and support services, accommodation and food services, and retail activity.

Administrative and support services remain the largest employer within the private sector, followed closely by hospitality, which continues to expand, while construction has seen a clear contraction after several years of intense activity.

Public sector continues steady expansion

In contrast, the public sector maintained its upward trajectory, reaching 5,393 employees, an increase of around 3% over the year.

Growth was particularly visible across government administration, education, and healthcare-related services, reinforcing their role as stable and structural pillars of Monaco’s employment model.

This divergence between private consolidation and public expansion is not unusual in mature, high-employment economies. IMSEE highlights that such patterns often reflect cyclical adjustments in private activity, balanced by steady institutional growth and continued investment in public services.

A structurally balanced labour market

Beyond short-term fluctuations, Monaco’s employment landscape remains highly structured and stable.

The Principality continues to rely heavily on cross-border labour, with the vast majority of private sector employees commuting daily from France. At the same time, the share of public sector employment remains comparatively small but stable within the overall labour mix.

Teleworking has also become a more established feature of the labour market, reflecting broader changes in working patterns across Monaco’s workforce.

Outlook

While the latest figures confirm a period of moderation in private sector activity, the underlying fundamentals remain strong. Employment levels are near historic highs, and long-term growth continues to define Monaco’s labour market.

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Photo by Virginia D’Umas

Charles Leclerc leads the Miami Grand Prix before dramatic final-lap spin costs Ferrari the podium

by: Cassandra Tanti
04/05/2026

Charles Leclerc produced one of the drives of the Miami Grand Prix only to see it undone in the most dramatic fashion on the final lap, spinning into the barriers at Turn 3 while defending third place and ultimately crossing the line in sixth. It was a painful end to a weekend that had shown genuine promise for Ferrari, whose SF-26 ran with its first aerodynamic update package of the season and demonstrated real pace at the front of the field.

From third on the grid, Leclerc seized the lead at the start by capitalising on the chaos ahead of him — Kimi Antonelli losing positions off the line and Max Verstappen spinning a full 360 degrees after contact with the Ferrari through the first two corners. Leclerc led the opening phase of the race and remained among the front-runners through the safety car period triggered by separate crashes involving Isack Hadjar and Pierre Gasly on lap six.

A race of two halves

Ferrari pitted Leclerc on lap 21, a decision he was not consulted on, and one that dropped him into traffic and forced him to fight his way back through the field. The sequence of overtakes that followed was impressive — he worked his way past George Russell and Verstappen to reclaim third — but passing the Red Bull cost him significant time, allowing Oscar Piastri to close in behind. “The start and the race overall went well and we were fighting for the podium,” said Leclerc in a post-race statement by Ferrari. “At the end, unfortunately, I made a mistake that cost me several positions. That’s on me and I will make sure I don’t repeat it again.”

With two laps remaining, Piastri was tucked into the slipstream of the Ferrari. The Australian attacked at the final corner on the penultimate lap and Leclerc, pushing hard to defend, spun at Turn 3 and hit the barriers. He kept the car moving and took the chequered flag, but with a puncture and a damaged car, finished sixth — and then received a 20-second penalty on top for repeatedly leaving the track in the closing stages, dropping him to eighth in the final classification.

The result leaves Leclerc third in the drivers’ championship with 59 points — 37 adrift of Antonelli and with Norris and Hamilton both on 51 and closing — while Ferrari sit second in the constructors’ standings, 68 points behind a Mercedes side that is showing little sign of slowing. The next opportunity to respond comes at the Canadian Grand Prix in Montreal in three weeks’ time.

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Photo source: Scudera Ferrari Media Centre

 

Interview: Ron Arad on imperfection, provocation and the enduring Big Easy

by: Cassandra Tanti
03/05/2026

The unmistakable curves of the Big Easy armchair take centre stage at Opera Gallery Monaco this week, as Ron Arad arrives in the Principality for his first solo exhibition. Presented as part of Monaco Art Week, Ron Arad, from 1992 to 2026 brings together more than three decades of work, from early experimental pieces to recent sculptural designs. While in Monaco, Arad has met collectors, spoken publicly, and offered a rare, personal insight into the ideas behind some of his most recognisable creations.

“I haven’t seen this piece in a long time,” Arad says, lowering himself into one of his original welded metal Big Easy chairs on display. “And this is part of my design — it still has to pass the sitting test.”

The statement is both practical and philosophical, encapsulating a career defined by the tension between form and function.

Ron Arad sits on his iconic Big Easy armchair at Opera Gallery. Photo by Cassandra Tanti

First created in the 1980s, the Big Easy remains his most iconic work. “I learned to weld on this piece,” he recalls. “And then you think — why should it be perfect? Nothing is perfect.” Yet perfection, or at least its illusion, continues to intrigue him.

He scrolls through images on his iPad, pausing on a flawless version of the same chair. “I actually made this as a joke, a satirical piece — an overstuffed armchair.”

A design that refuses to disappear

Two versions of the Big Easy stand in the gallery window, a reminder of how the design continues to evolve. “Every time I have an idea of using a different material, a different technology — the Big Easy jumps out and says, ‘Use me,’” he says. The name itself, he explains, comes from New Orleans, inspiring an entire series of works. “They are not painting chairs — it is about making it off the paint.”

Photo by Cassandra Tanti

One of the more striking variations currently on show — polished metallic forms — originated under unusual circumstances. Arad recounts how Sotheby’s invited him to create a piece for its Beyond Limits exhibition in England. Faced with an impossible production timeline, he delivered a rendered image instead. “I said, look, I can’t meet the deadline for the piece, but I can meet the deadline for the photography,” he explains. The final work arrived a year later. “So I wasn’t late a day, or a week… I was late by one year. But this is it — eventually.”

Function first, always

Despite their sculptural presence, Arad is unequivocal about the purpose of his work. “All of my pieces of furniture are practical. If I design a chair, it is designed to be sat on,” he says. Even his earliest works demand interaction. “You keep going until it is comfortable.”

Ron Arad sits on his work, Linguine. Photo by Cassandra Tanti

Production methods may have evolved — “I used to make the pieces myself, but not anymore” — but the principle remains unchanged. Across the exhibition, this philosophy is evident in works such as This Mortal Coil (1992), a flowing spiral bookshelf, and Linguine (2020), a stainless steel piece that blurs the line between sculpture and furniture.

Art, ownership and interpretation

Arad’s designs have not always remained under his control. Recalling a widely circulated image of Michael Jacksonseated in the Big Easy, he is characteristically direct: “They didn’t ask for permission… so we sued.”

Yet his approach to authorship is not without humour. On a carved wooden chair shown during the interview, he points to an inscription: “Have nothing in your house that you do not know to be useful or believe to be beautiful.” He pauses, then adds with a smile, “That’s William Morris. I added ‘or love,’ because I don’t like being told what to do.”

Photo by Cassandra Tanti

A first for Monaco

This marks the first time Arad has accompanied his work to Monaco in person, adding a new dimension to an exhibition that already spans more than 30 years of design innovation. As visitors move through the gallery, the consistency of his vision becomes clear: objects that challenge expectations, yet insist on being used.

“Everything is for sale,” he confirms, almost as an aside — a reminder that even the most conceptual pieces remain, at their core, part of everyday life.

Ron Arad, from 1992 to 2026 continues at Opera Gallery Monaco until 28th May.

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All photos by Cassandra Tanti

Basketball: Monaco suffers heavy Game 2 defeat to Olympiacos

by: Kayla Sauceda
03/05/2026

Olympiacos pulled away in Greece on Thursday, handing AS Monaco Basketball a second straight loss to open their EuroLeague playoff series.

A Roca Team who faced the battle of a shortened roster throughout the end of their regular season finally had both Terry Tarpey and Nemanja Nedović available again, giving them 10 men to utilise in their playoff battle against Olympiacos.

However, that sense of regained depth was short-lived, as Monaco once again found themselves dealing with a reduced rotation under entirely different circumstances. The Thursday matchup held in Greece was another game to forget for AS Monaco, as the team lost by 30 points with a score of 94-64.

With a slow start to the game, both teams began rather cold, with Monaco failing to score until three minutes in. Any early rhythm was further disrupted by an immediate blow to the rotation, as Daniel Theis exited the game to head to the locker room after only registering 2:25 in the quarter before leaving with a right-hand injury.

The first quarter saw lead changes favoring both sides; however, Olympiacos ultimately ended the quarter with a five-point lead – one that still left the game within reach for Monaco.

Unfortunately, the second quarter proved fatal for Monaco, as Olympiacos took only three minutes to extend their lead into double digits. Going 0-for-10 from beyond the arc and only obtaining six rebounds compared to Olympiacos’ 15 highlighted Monaco’s struggles to play to their strengths. As Olympiacos went on a 23–4 scoring run, Monaco’s already fragile rotation took another major hit, as Mike James was ejected from the game with eight seconds remaining in the quarter. The teams went into halftime with a score of 59–31.

With what had briefly been a 10-man roster now effectively reduced to just eight available players, the Roca Team had the whole second half to make a comeback. Despite their efforts in the third to reduce the gap, shooting 0% from beyond the arc in the fourth along with only four rebounds total in that same quarter sealed their fate in a 30-point loss. More than just being outplayed, the game underscored how quickly Monaco’s depth disappeared once again under in-game circumstances.

Interim coach Manuchar Markoishvili addressed the fact that the team showing up thus far has not been the team that led them to this playoff appearance. “We have to do better at home and fight until the end. It’s hard to imagine three wins against Olympiacos, but we have to keep believing.”

Acknowledging the instability of a roster that continues to shift from game to game is critical to understanding Monaco’s playoff position. What was expected to be a strengthened lineup quickly turned into another short-handed effort, this time due to injuries and in-game incidents rather than pre-existing absences. As they risk elimination, they will return home to Salle Gaston Médecin to face Olympiacos on Tuesday with home-court advantage, where the team must show up with greater effort, improvements, and ideally a full bench.

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Photo source: AS Monaco Basket

Monaco to takes its artists to Madrid to mark 150 years of diplomatic ties with Spain

by: Cassandra Tanti
03/05/2026

More than 50 Monegasque artists will exhibit at one of Madrid’s most distinguished cultural venues as the Principality’s biennial arts forum heads abroad for its eighth edition.

The Forum des Artistes de Monaco opens at the Pavillon Villanueva of the Jardin Botanique Royal on 25th May, running until 13th June, with the Monegasque Embassy in Spain co-organising the event alongside Monaco’s Direction des Affaires Culturelles. Works on show span painting, sculpture, photography and mixed media, with some participants working in innovative techniques alongside more established disciplines — a reflection, the organisers say, of the diversity and dynamism of the Principality’s contemporary artistic scene.

A milestone anniversary

The 2026 edition carries particular weight, coinciding with the 150th anniversary of Monaco’s diplomatic representation in Spain. The embassy’s involvement as co-organiser reflects that significance, making this edition both a cultural showcase and a diplomatic marker between the two states.

Art meets nature in Madrid

The Pavillon Villanueva, set within the Royal Botanic Garden at the heart of the Spanish capital, provides an unusual setting in which art and nature converge. It is one of Madrid’s most distinguished cultural venues and a fitting frame for a forum held under the wishes of the Princely Government with the explicit aim of supporting local artists by offering them a public platform beyond Monaco’s borders.

Vote for your favourite

As in previous editions, a public vote is open ahead of the exhibition at forumdesartistes.mc, with the winner of the Prix du Public given a dedicated place of honour within the forum when it opens in Madrid next month.

See also:

Monaco marks 150 years of diplomatic relations with Spain through year-long cultural programme

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Photo credit: Madrid Bien Visto, Flickr