Business & Finance
Brought to you by: Monaco Life
A Monaco Economic Board (MEB) delegation has headed to Sydney and Melbourne on a promotion and reconnaissance mission to make new contacts and assess the potential of Australia for the Principality. The mission coincided with a Ballets de Monte Carlo tour and the Destination Monaco Office in Australia.
“Although remote and relatively sparsely populated given the size of its territory, Australia is a thriving dynamic country with a wealth of natural resources, close to a booming Asia region,” says the MEB.
The delegation saw it was an opportunity to tap into networks in the country’s two main business metropolises in collaboration with the Destination Monaco Office, assisted by the Monaco Consuls in Australia: Hadrien Bourely in Sydney and Andrew Cannon in Melbourne. A meeting was also arranged with Richard Worth, Monaco Consul in New Zealand, who crossed the water for the occasion.
Meetings were held with key players in the business world to generate both intermediary and decision-making contacts, including the New South Wales and Victoria Chambers of Commerce. Discussions highlighted potential synergies between the two countries in international trade, and in the hi-tech, renewable energy and yachting sectors.
Meanwhile, EY, which has a strong presence in Australia and organises the annual World Entrepreneur of the Year, offered to support future actions by Monaco in the Pacific region.
On Thursday 27th, they also attended a performance by the Ballets de Monte-Carlo at the Melbourne Arts Centre.
“Throughout the trip, presentations made on business opportunities in Monaco generated a lot of interest, and it was clear that an MEB Trade Mission to Australia and/or Monaco hosting a delegation from Australia would be relevant,” says the group.
The MEB will now work with its partners to decide on the best way to offer members these development opportunities.
It’s been a month of diplomatic accreditations, with several ambassadors officially presenting their credentials in Monaco and internationally.
The crisis brought about by Covid-19 cost the Principality €900 million in profits for the first half of the year, the latest report from IMSEE has revealed.
Giulio Alaimo has presented his credentials as the new Ambassador of Italy to Prince Albert.
The latest survey by IMSEE has revealed that the business climate continued to weaken in July, though retail trade and the auto commerce and repair sectors saw slight improvements.
The sixth edition of the European Art Fair Monaco (EAF) takes place at the Grimaldi Forum from July 20-24, under the High Patronage of HSH Prince Albert II.
Although the name EAF Monaco is new this year, the art fair was formed in 2011 as an economic interest group under the name GIE Point Art Monaco (PAM). This followed the Monaco Antique Biennial, which ran from 1974 to 2005.
EAF Monaco is the collective initiative of four prominent Monegasque galleries that make up the organising committee, and, additionally, exhibit at the four day art expo: Adriano Ribolzi Art Gallery, Maison d’Art, A. Pallesi Art Gallery and M.F. Toninelli Art Modern. This year’s edition includes the appointment of director Mr Renaud Siegmann, an historian and art critic for over twenty years, who will help the fine art fair “promote the best of what humanity has created in the world of art, era notwithstanding”.
Thirty-one international exhibitors, as selective as prestigious, will be on hand representing ancient or modern art, drawings or paintings, sculptures or jewellery, including the Swiss luxury watch manufacturer Montres DeWitt, known for its cutting edge innovation – the independent company was founded in 2003 by Jérôme de Witt, a descendant of Emperor Napoleon and the great-grandson of King Léopold II of Belgium – one of their watches contains Napoleon Bonaparte’s hair.
DeWitt made headlines this year when it launched “a self-winding mechanical timepiece” without hands, the Academia Mathematical Concept Watch No. 4.
According to its technical chart, the timepiece is fitted with a 42.5 mm round case in 18-carat rose gold and comprises 384 pieces, operating at a frequency of 21,600 vibrations per hour and featuring a screwed balance and a 48-hour power reserve. Astonishingly, although the scattered numerals indicating hours and minutes seem random, they do tell the correct time.
Another big draw this year is the exceptional Italian jeweller, Pierandrea Sabbadini, co-owner of the family business in Milan, known for its bejewelled bees (and more recently, ostriches), combining precious stones with new materials, like titanium, aluminium, ceramic, steel and rubber.
On the art side, Giovanni Sarti moved his self-named gallery from London to Paris in 1996. “We’re entering a new era of collecting,” the Paris dealer Sarti told the New York Times in 2014 . “When people come into my gallery they look at the name and they ask the price. They don’t really look at the painting.” With a reputation as one of the most renowned experts in early Italian paintings, furniture and objets d’art, from the 13th to 18th centuries, G. Sarti Gallery specialises in 13th- to 15th-century Italian pictures, and are the only dealers qualified by the Conseil National des Experts Spécialisés (C.N.E.S.) in this field.
One of the world’s leading Old Masters galleries, Robilant + Voena, have galleries in London, Milan and St. Moritz, Switzerland. Mr Robilant, who will attend with Mr Voena, commented about the changing art world. “People don’t go to galleries any more, and they don’t buy old masters,” he told the New York Times. “They’re not part of the overall mood of today’s taste.”
One of the highlights at EAF Monaco 2016, and an indicator of the show’s wide-reaching reputation within the art world, is the Yufuku Gallery from Japan. The Economist observed that the pieces selected by / exhibited by the gallery owner Wahei Aoyama “demonstrate the ways in which Japan’s contemporary artists are shaking off those foreign distinctions again, and pushing the boundaries of what their traditional media and techniques can do”. By Nancy Heslin
EAF Monaco runs from July 20-24, 3pm to 9pm (10pm on Thursday). Joint tickets with the Francis Bacon, Monaco and French Culture exhibition are €16. Book tickets online at eafmonaco.com.