Business & Finance
Brought to you by: Monaco Life
IMSEE, Monaco’s statistical office, has reported mixed results for the third quarter of 2016. While overall revenues, excluding financial and insurance activities, declined over the period, the real estate sector performed well, not only in showing a continuing increase in the number of transactions, but also a growth in average prices as more transactions involved larger properties.
Wholesale trade, the largest sector in terms of turnover, fell by more than six percent in the third quarter (-€217 million), while tourism – measured in overnight stays – suffered from the Nice atrocity that took the lives of 86 people in July. Even there, there was a bright spot, with average spending per person recording an increase.
Employment increased for the second consecutive quarter (+ 0.5 percent).
Monaco Boost has launched its third call for applicants, encouraging Monegasque citizens to take advantage of the government-backed business support programme.
The Principality has officially welcomed four new ambassadors from Algeria, Namibia, Korea and Burundi.
We speak to Cecil Wright and Partners Director Henry Smith about the benefits of being a small brokerage, why the focus on Feadship, and the growing demand for sailing yachts.
Sabrina Monte-Carlo is the go-to interior design studio for anyone looking to add a touch of ‘je ne sais quoi’ to their interior or outside spaces.
Agricorp Invest SA, a unit of the Monaco-registered group Monaco Resources, has acquired a majority stake in the Macedonian mushroom and vegetable processing plant, Bonum, the company said.
Agricorp Invest S.A., via its wholly owned subsidiary Agri Food Invest Luxembourg, which operates and develops agricultural and food projects in Africa, Europe and Asia, said in a statement it “is pleased to announce a diversification of its portfolio by investing in Bonum, a company based in Skopje and near Kumanovo, in the Republic of Macedonia.” The value of the deal was not disclosed.
Commenting on the deal in a Facebook post, former prime minister and ruling party leader Nikola Gruevski, said the brownfield investment is planned to create 100 new jobs within a year. The plant will be reorganised and its production is expected to double as a result of the investment, he added. Monaco Resources, at 2, rue de la Lujerneta, has operations spanning mining, agribusiness, energy, logistics and financial services. (Source: seenews.com)