Business & Finance
Brought to you by: Monaco Life
Larvotto traders who have had to close their doors for a major beach renovation have met with the Monaco government and other works representatives.
Minister of Finance and Economy Jean Castellini, Administrator of the Domaines Rémy Rolland, and Olivier Damour of the Public Works Department visited Larvotto on Friday 11th October, the site of a multi-million euro upgrade that will last for two years.
“The purpose of my visit is to show the Government’s interest in Larvotto traders and this project which involves a complete redevelopment of the area,” said Jean Castellini. “I can only commend the state of mind of each stakeholder during the process, in particular the Administration of the Domains (who) set the compensation based on turnover.”
The entire coastal area of Larvotto, including the public beach and businesses, was shut down in early October as bulldozers moved in to prepare the site for works.
It is one of two major redevelopments currently being undertaken within the space of a few hundred metres. The other is of course the land extension and new eco-district which is being built near the Grimaldi Forum.
“Today signals a new era and a great opportunity to renovate (Larvotto) and bring it to the finest international standards,” added Mr Castellini. “A magnificent urbanisation project is being built at sea, so it was only logical that as part of that extension, the Larvotto beach be redone.”
The Maltese Communication Authority has approved a €250 million corporate contract between Monaco Telecom and Malta’s leading telecommunications company, Vodaphone Malta.
Monaco is reopening the Larvotto construction site to workers, saying the beach project is “essential for the development of the Principality”.
Monaco’s self-employed entrepreneurs will have access to a minimum monthly income as part of the government’s new economic measures, effective immediately.
The Prince’s government has announced another raft of economic measures to support employees impacted by the Covid-19 crisis.
French fashion designer Sonia Rykiel has died at the age of 86, it was announced on Thursday. Rykiel, nicknamed the Queen of Knitwear, had been suffering from Parkinson’s disease for some time before her death.
Nathalie Rykiel, managing and artistic director of the Sonia Rykiel fashion label, said, “My mother died at 05:00 this morning at her home in Paris from the effects of Parkinson’s.”
French President François Hollande praised her as “a pioneer”. He said Rykiel, whose relaxed striped knitwear was seen as a shift away from more formal suits, had “offered women freedom of movement”.
Rykiel was born Sonia Flis in Paris in May 1930, to a French father and Romanian mother. She started her career as a window dresser in 1948, with her first foray into design being when she knitted herself maternity dresses after marrying Sam Rykiel, the owner of a Paris boutique.
Rykiel made her breakthrough in 1962 with the so-called poor boy sweater, which had long sleeves and a fitted shape. Elle magazine then featured teenage pop star Françoise Hardy wearing a red and pink striped Rykiel sweater on its cover in December 1963. Brigitte Bardot was later photographed in a Rykiel creation, with Audrey Hepburn among her other famous fans.
Rykiel opened her first ready-to-wear store on Paris’s Left Bank in 1968 and her fashion empire went on to include menswear, children’s clothing, accessories and perfumes, the BBC reports.
During her career Rykiel developed new techniques like inside-out stitching and no-hem finishings, with other star pieces including embroidered knitted tops and rhinestone-studded berets. Rykiel wrote several novels and also featured in 1994 film Pret-a-Porter, Robert Altman’s satirical take on the fashion industry.
In a 2005 interview, she said she had been plagued by doubt in her early career. “When I started in fashion, for the first 10 years, I said to myself every day, ‘I’m going to quit tomorrow,’” she told Le Nouvel Observateur. “People are going to figure out that I don’t know anything. I always thought I’d be discredited in the end.”