Business & Finance
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Edmond de Rothschild Monaco acquired a stake in Snap-On Inc during the third quarter of 2016, according to a Form 13F filing with the Securities and Exchange Commission in the US. Snap-On Inc is primarily a maker of tools and equipment.
In its quarterly earnings results posted on February 2, Snap-On’s return on equity was 20.89 percent and revenue was up by 4.5 percent compared to the same quarter of 2015.
The private bank acquired 7,304 shares of the stock, valued at about $1,110,000. Snap-On makes up one percent of Edmond de Rothschild Monaco’s investment portfolio, making the stock its 17th largest position, according to a number of sources reporting on US investments.
MEB leaders have travelled to Paris to meet several key partners and prepare for operations scheduled for the end of the year and 2021, with the aim of facilitating Monaco’s recovery.
The government is hoping to lure visitors back to the Principality with its new ‘Monaco Safe’ label, a guarantee that businesses are following strict health measures.
The MonacoTech startup incubator has unveiled five new projects it has selected to join its programme, two of which were established right here in the Principality.
The government is urging Monegasques to get involved in the UN’s Young Professionals Programme, which is now accepting applications.