Business & Finance
Brought to you by: Monaco Life
A major control by authorities in Monaco has found that a third of the cafés and restaurants were in breach of strict health controls, while four were shut down for repeated offences.
The Prince’s government revealed on Wednesday that the Directorate of Public Security and the Directorate of the Health and Food Security Division jointly carried out checks on various catering establishments in the Principality on Monday 21st December.
Around 60 eateries spread across the districts of Monte-Carlo, Port Hercule and Fontvieille were visited to determine if they were complying with strict health measures.
In total, 21 fines were issued for various offenses, the majority concerning a failure of staff to wear masks and a failure to respect 1.5 metres distance between tables.
Four establishments who had breached the rules previously were ordered to close for four to seven days as of Thursday 24th December – just hours before the busy Christmas and New Year rush.
“The Prince’s Government recalls that it is essential to strictly comply with the sanitary measures enacted for catering businesses in order to be able to keep these establishments open while the circulation of the Covid-19 virus remains active in the Principality,” said the government in a statement.
Restaurants in Monaco have strict opening times: between 11am and 3pm for lunch, and between 7pm and 9.30pm for dinner. Reservations are mandatory for night service and tables are required to be set at a distance of 1.5 metres with a maximum of six guests per table. Masks must be worn at all times by staff and customers if they leave the table.
As of Thursday 24th December, the government made lunch reservations also obligatory to eliminate queues.
“While in most European countries the restaurant industry is forced to suspend its activities, Monaco regulations allow establishments to be kept open. However, it is accompanied by a strict framework that must be respected to ensure the delicate balance between health protection and economic activity. The Monegasque authorities will maintain particular vigilance and will continue unannounced checks in the coming days and weeks,” concluded the government statement.
More than 150 public and private finance professionals have gathered to hear a progress report on Monaco’s fight against money laundering and corruption.
Diamond expert Alberto Vitale talks about Covid’s impact on the industry, how it historically sent down diamond prices, and the rise of transparency thanks to blockchain.
Monaco’s Jean Castellini has joined finance ministers across the globe in a meeting to foster economic growth strategies that take into account the environment and climate change.
The Principality has welcomed three new ambassadors from Iran, Latvia and Honduras.
Robert Friedland, the international financier and a major player in the mining industry, was the guest speaker at the meeting and summer cocktail of the Monaco Venture Private Equity and Venture Capital Association (MVCA) last night. Zsolt Lavotha, Chairman and President of MVCA, gave a review of the first half of 2013 to the 60 members and guests, with an impressive list of activities, among them several high quality co-investment meetings, VIP lunch speakers such as Luc Vandevelde, former chairman of Carrefour, a full day event with Stephen Schwarzman, founder of Blackstone Group, one of the world's most prominent Private Equity Groups, and of course the global entrepreneur event THE EDGE, which MVCA co-organized with the International University of Monaco…But the show last night belonged to Robert Friedland, founder of Ivanhoe Capital, his private family business providing venture capital to mainly the mining, energy and technology field. Ivanhoe Capital has raised billions of dollars since its inception and Friedland also founded and was Executive Chairman of Ivanhoe mines which in 2012 was sold to Rio Tinto, the world's third-largest mining group by market capitalization (>$130billion). With a larger than life personality, Friedland provided his view on the future of precious metals and backed it up with seriously interesting facts and demographics. His lively presentation was highly enlightening in the field of mining, the world economy in general,and including several provocative statements that mesmerized the audience. Friedland was listed as one of the 10 most influential people in Steve Jobs’ life by the Business Insider, and he counted him among his good friends and who actually influenced the choice of name for his Apple company. Michel Bouquier presented Friedland with the Monaco Private Label Card, to join an exclusive group who receive preferential treatment in the Principality. Article first published June 26, 2013.