The Latest at Forbes Monaco

Over the past week, 23 people (including 4 today), have tested positive for coronavirus in the Principality. With Monaco's economy struggling after a quasi-touristy Covid summer, minister of state Pierre Dartout unveiled the government’s…

Art Basel and UBS have just published a High Net Worth survey The Impact of Covid-19 on the Gallery Sector, a study of how the Covid pandemic has effected 795 galleries operating in the Modern and Contemporary gallery sector, representing…

Following the Monaco Supreme Court ruling on June 25 in favor of Caroli Immo in its case against the State, Prince Albert announced today that he has commissioned his government to find common ground with the realtor in exchange for his waiving…

Maneuvering in and out of Port Hercules in Monaco has been complicated this past week with the 90-megayacht, Lionheart, anchored near the digue after two crewmen tested positive for Covid.  Owner, Lady Tina Green, who…

In recent weeks, the U.K. and Switzerland have classified Monaco as a “risk area” and consequently added it to a list of quarantine countries. But are Monaco residents required to self-quarantine after returning from a trip to the…

As Monaco confirmed six residents have tested positive for coronavirus on Tuesday, it was reported ex-Formula One Renault boss, Flavio Briatore, was hospitalized in Milan after contracting Covid-19. According to the Italian magazine L'Espresso,…

Last night, Germany classified Provence-Alpes-Côte-d’Azur and Paris/Île-de-France as “risk areas,” where they see an “increased risk of infection” of the virus. Monaco was not added to the list. Warning…

As of Saturday, August 22, Monaco has decided to align its reporting of coronavirus cases with that of the World Health Organization and neighboring countries in the region. From now on, all confirmed Covid cases in the government’s daily…

On Thursday, Emirates Airlines COO Adel Al-Rheda told CNBC that the state carrier expects to resume flights to all 143 “network destinations” by next summer. “We can easily say, by summer (2021), we’ll be serving…

While Covid cases in Monaco have leveled off the past few days, only two new confirmed infections since Saturday, Public Health France has reported today that the Alpes-Maritimes department is expected to reach and cross the threshold…

At midnight Thursday, U.K. Transport Secretary Grant Shapps confirmed that people traveling to the U.K. from France and Monaco will be “forced” into a two-week quarantine from Saturday, August 15. The measure, which kicks in from…

As five new Covid cases have been confirmed in Monaco Tuesday, the government has announced extended Covid measures concerning the wearing of masks in public spaces outdoors. From Wednesday, August 12, wearing a mask is now obligatory…

According to Monaco’s official statistics office, IMSEE, the country counted 53,454 employees in March 2020. This figure is 3% less than 2018, due to the lack of recruitment for industry events, like the Grand Prix, and seasonal summer…

The Norwegian ministry has announced that 158 passengers on a Nice-Oslo flight must undergo a 10-day quarantine after arriving in Norway one minute past midnight on Saturday, the day when Norway officially classified France as a Covid “red…

UBS reported a net profit of $1.23 billion for the second quarter of 2020, down 11% from the same period last year ($1.4 billion) but still higher than the $973 million analysts expected. The investment bank, which is home to half the world's…

UPDATE August 6: The Alpes-Maritimes prefect has issued a decree making it mandatory to wear a mask in eight municipalities in the department, including Nice and Vence. Anyone over the age of 11 in breach will face a fine of €135. Biot:…

The good news is that the Monaco government hopes to have a coronavirus vaccine for residents and Monegasques for the first quarter of 2021. The bad news is that Jimmyz, and all other nightclubs in the Principality, aren’t likely to reopen…

The coronavirus pandemic was an eye opener for everyone. As an unprecedented attack on our social order, our economy and our government, this unknown threat pushed each one of us, individually and collectively, to take unusual decisions.…

According to market researcher Pulsar, London is the official gin capital of the world with 1.3 billion Gin & Tonics served in 2018. No wonder that La Distillerie de Monaco’s first batch of the spirit sold out in mere weeks after…

In a press release Monday, Augustin de Romanet, Chairman and CEO of the international airport operator Groupe ADP, stated, “This is the first time in 50 years that air traffic has experienced a downturn this abrupt and it is established…

For the thousand or so employees at SBM Offshore in Fontvieille, it has been a waiting game since the company announced on June 24 that it would axe 180 jobs in Monaco. Citing Covid-19 as “a catalyst” to restructuring, the…

It was only five days ago that the 24-hour Calvi-Monaco Water Bike Challenge was announced, pitting two teams of four internationally famous athletes, including Princess Charlene, against each other as they ride hydrobikes over a distance of…

From July 15, anyone wanting to be tested for coronavirus in Monaco can do so at their own expense. Some 36,000 Monegasques, residents and employees in the Principality have volunteered since May 19 for the mass rapid TROD screening campaign…

The recent cancellation of the Monaco Yacht Show in September seemed like the grand finale to the Year Without Events. The list of Covid Casualties is extensive, from the Rolex Monte-Carlo Tennis to the Monaco Grand Prix. The Monaco U.S.…

On Wednesday, the Court of Revision in Monaco dismissed the Bouvier Affair, five years after Russian oligarch Dmitri Rybolovlev filed a complaint for fraud and money laundering against the Swiss art dealer Yves Bouvier. The country’s…

MonacoTech, the government incubator partnered in 2017 with Xavier Niel, founder of Free mobile and No. 253 on Forbes Billionaires list, has just announced the latest five startups to join their accelerator program. On June 30, a jury of seven…

HSBC France has just announced that it would cut 38% of global banking and markets jobs in France by the end of 2021. This means 255 of 678 jobs will be axed on a voluntary basis but, according to the HSBC’s FO union website, there would…

Three members of a family living in Monaco have tested positive for coronavirus. According to the government on Thursday, July 2, this includes a sixth grade student from Charles III who was infected after a family member returned…

In the current edition of Forbes Monaco, minister of state Serge Telle pens a special op-ed on “Lessons Learned From Covid” in which he talks about how the country is working on reviving the country’s dynamism that…

On March 17 in Monaco, we were suddenly forced to accept restrictions of basic freedoms. Previously unimaginable, the liberty of leaving the house, going to a café or running a business was quashed as the worst public health emergency…

In the year of Covid-19, the 30th anniversary of the Monaco Yacht Show (MYS) this September had already been downgraded from a prestigious mega-market show to a “low-density, not-for-profit, support event in Monaco.” Now, with much…

Caroli Immo has been awarded €150 million in its case against the State of Monaco for the Esplanade des Pêcheurs project. The record-breaking payout came Thursday, June 25, after the Supreme Court ruled in favor of Antonio Caroli’s…

Monaco's newest art gallery promises to “bring art to brighten the world.” At the official launch party Thursday of the Alan Walsh Gallery on rue Grimaldi, the British artist tells Forbes Monaco, “After coming…

Monaco resident, Novak Djokovic, has tested positive for Covid-19, the Serbian said in a statement today, despite showing no symptoms. “I am extremely sorry for each individual case of infection. I hope that it will not complicate anyone’s…

For the second consecutive day, Monaco health authorities have reported a new case of coronavirus, bringing the total number of confirmed cases on Monday to 101. Tennis player Grigor Dimitrov, a Monaco resident who had just returned from a…

On Sunday, Monaco's 100th case of coronavirus was confirmed. Although the person was not identified by the health authorities, tennis star Grigor Dimitrov posted on Instagram “I tested positive back in Monaco for Covid-19” around…

In an interview with RTL radio last month, French education minister Jean-Michel Blanquer said blankly that the “consequences of not going to school are much more serious” than the 70 reported coronavirus cases amongst 40,000 students.…

As of July 1, 2020, the government will launch a new Policy to Support Economic Recovery for businesses impacted by the health crisis. This new loan system, backed by the Monegasque Guarantee Fund, and in agreement with the Monegasque Association…

On May 19, the government launched its Covid-19 serological screening campaign, which was made available for free to the 90,000 people that make up Monaco’s population and workforce. The drive ended on Saturday with nearly 35,000 people…

In a televised address Sunday night, French president Emmanuel Macron said he was “accelerating plans” to ease the country’s coronavirus lockdown. “As soon as tomorrow, we will be able to turn the page on this first…

It was no coincidence that as the UN kicked off World Ocean Week on June 8, UBS launched “Sea Beyond The Blue,” a guide on the oceans for philanthropists and changemakers. Oceans provide more than half of the oxygen we breathe,…

After launching the country’s first incubator and accelerator program three years ago, serialpreneur Fabrice Marquet has branched out with Monaco Foundry, partnering with startups for the long run. After only two months, the outfit already…

Hatmaker to the stars, David Shilling is about to become one of the first civilians in history to see the sun rise and set every 90 minutes, making Monaco the 19th nation to send an astronaut to space. Last summer, to mark the 50th anniversary…

It was around this time last year, on June 15, when Princess Charlene brought the crowd of 250,000 to their feet as she waved the tricolor French flag to start the beginning of the 24 Hours of Le Mans, the epic “Grand Prix of Endurance…

François Delfraissy of France’s scientific committee announced this morning that the Covid-19 pandemic in the country is now “under control.” This follows an appeal from the European Commission asking EU member states…

On Friday, June 5, Olivier Franceschelli was appointed Head of Private Banking at Barclays Monaco. “Olivier’s arrival marks the next chapter of our almost 100-year history in the Principality, where we continue to bring the…

Apart from the occasional mask wearer, you’d never know from a glance of Place du Casino or the Port that restaurant terraces had just reopened on June 2 after two and a half months of coronavirus lockdown. “People are definitely…

The idea to open a high-quality artisanal brewery in Monaco came to Natasha Frost-Savio and her husband Roberto Savio during a trip to the U.S. a few years back. The couple discovered the American craft beer market, which according to the Brewers…

In its annual Monaco property report, Savills announced today that Monaco remains the most expensive prime residential market in the world with an average price per square meter now at €48,150. Of the country’s eight neighborhoods,…

The government launched its Covid-19 serological screening campaign two weeks ago, allowing 90,000 people that make up Monaco’s population and workforce to be tested for free. Over the first phase of the resident-focused testing, 43%…

UPDATE: As part of World Environment Day tomorrow, residents looking to dispose of small appliances and household waste can do so at Stars’n’Bars tomorrow from 10 a.m. to 5:30 p.m. Small appliances, cables, bulbs, neon lights,…

As the French labor ministry reported today a 22.6% surge in unemployment over the last month making 4.5 million people in the country now jobless, prime minister Edouard Philippe unveiled phase 2 of deconfinement, which includes the reopening…

On Wednesday, France’s official statistics agency, INSEE, announced the country’s economy is set to contract 20% in the second quarter from the previous three months. The virus-struck French economy officially fell into recession…

Last month, in the middle of the Covid-19 lockdown, Compagnie Monégasque de Banque (CMB) launched a donation drive in support of Princess Grace Hospital Center (CHPG), appealing to both residents and non-residents. Over five weeks CMB,…

It’s been a tough year for Formula One fans with the first nine races of the season, including Monaco, being cancelled due to the coronavirus pandemic. F1 is looking to start the season behind closed doors with the Austrian GP on July…

Wednesday afternoon at the Ministry of State, the government provided details of Phase 3 of Monaco’s “Stop And Go” deconfinement strategy. Restaurants, bars, museums and casinos have all been given the green light…

The March 17 Covid-19 lockdown in France impacted the U.S. Embassy in Paris and Consulate in Marseille much like other non-essential businesses. Offices transitioned primarily to staff working from home, though consular sections in both Paris…

As part of its plan to test all 90,000 residents and employees in the Principality, the government has released the first schedule for coronavirus testing, which starts Tuesday, May 19. Families, both Monegasques and residents, with last names…

Beaches Open Saturday Beaches in 13 municipalities in the Alpes-Maritimes will reopen from Saturday, May 16 but specific "dynamic" rules will apply. Swimming is permitted, and so is individual non-motorized water sports like SUP,…

From next week, a Covid-19 serological screening campaign will kick off for the 90,000 people that make up Monaco’s population and workforce. The testing is completely free, paid for by the State, and on a volunteer basis. Each household…

Philip Culazzo first made a splash in Monaco when he opened l’Orangerie, the country’s only distillery, just over three years ago. He started with a 100% made-in-Monaco liqueur using some of the Principality’s 600 bitter orange…

Today, on France's 53rd day of confinement, prime minister Edouard Philippe confirmed details of easing lockdown measures on May 11. In his discourse, the French prime minister emphasized that May 11 represents a progressive start…

Monaco resident Isabell Kristensen has dressed some pretty fancy people, from Nicole Kidman to Kate Winslet, and from Cher to Dame Bassey. Remember Shirley’s Goldfinger gown at the 2013 Oscars? It was the Danish designer who hand sewed…

Well Monaco, you’ve done it. After 49 days of confinement, from tomorrow, you are free to roam outside your home for as long as you wish and without purpose. Seems like it was just yesterday when we had a collective meltdown with the…

Monaco reported no new coronavirus cases Tuesday. Of the 95 confirmed cases, 50 have now recovered completely and only 24 are being supervised under the Home Patient Monitoring Center. Four people have died, although only one was a Monaco resident.…

UPDATE:  NO MORE ATTESTATIONS. Attestations to leave home will no longer be necessary from May 11. But "travel more than 100 km from home" will be prohibited, except for "compelling reasons, family or professional."…

It’s on everyone’s mind: the economy. Tonight at 7 p.m. on Monaco Info, minister of state Serge Telle, alongside his peers, including minister of finance and economy, Jean Castellini, will be detailing Monaco’s first phase…

A French court rejected an appeal from U.S. online retailer Amazon against a ruling that limits what it can deliver during the coronavirus crisis. Amazon must restrict deliveries in France to IT products, health items, food and pet food, the…

President Macron held a marathon videoconference today with 22 mayors from across France, including Christian Estrosi in Nice and David Lisnard in Cannes. Addressing life post-lockdown from May 11, the president assured that “a national…

Yesterday, Jérôme Salomon, the director of the French public health authority, said the coronavirus has passed its peak in France, although Paris remains a hotspot. Salomon, a French infectious diseases physician, also stated that…

For the third consecutive day, health authorities have confirmed that there are no new cases of coronarvirus in Monaco. Only one case has been reported in the last 8 days. Of the 94 cases, 23 have now fully recovered. 7 are in hospital, 3 of…

As Monaco announced the fourth consecutive day with no new Covid-19 reported cases, Didier Gamerdinger, minister for social affairs and health, addressed the issue of masks, screening tests and digital tracing in Monaco. From tomorrow,…

According to an internal document seen by Reuters, American e-tailer giant Amazon will close six fulfillment centers in France from tomorrow until Monday, April 20. This follows a ruling Tuesday from the French courts in Nanterre stating…

In his third prime-time televised address to the nation, President Emmanuel Macron announced Monday, April 13, that the confinement period in France would be extended until May 11. Outlining his confinement exit strategy, the president said…

The Compagnie Monégasque de Banque has taken the initiative, in agreement with the Princess Grace Hospital Centre, to start collecting donations, helping the Monegasque community to participate in the drive for national solidarity. …

Designers Isabell Kristensen and Princess Margarita steal the show. Monaco’s only couture designer, Isabell Kristensen, and Princess Margarita, member of the Dutch Royal family, hit the runway together for the Dutch Real…

As the EU plans to launch a $3.9 billion fund for Valley of Death startups from 2021, Ian Sosso has just returned from Brussels where he led a workshop advising the European Commission on how to turn intellectual property developed by universities…

On Tuesday, April 7, two more tests in Monaco were confirmed Covid-19 positive bringing the total number of cases to 79. On a positive note, four people have now completely recovered. Nine remain in hospital, with four in intensive care, and,…

UPDATE: On Sunday, April 5, seven more cases of coronavirus were confirmed in Monaco, bringing the total to 73. In a statement today, Prince Albert said, “Let us keep the spirit of unity and solidarity flowing with courage and patience.…

Four more Covid-19 cases were confirmed in Monaco on Friday, April 3. That’s 64 people now infected, with 60 active cases as a third patient has made a full recovery. One patient, an octogenarian, who was not a resident of Monaco,…

A global virus epidemic may have spoiled Bond’s premiere plans for April, but it can’t stop the world’s ultimate spy from hitting the big screen this fall. Call it a case of remarkable foreshadowing. Or simply one filmmaker’s destiny,…

Jerome Solamito is part of a new generation of Monegasques who believes in the commodity market. And he is betting big on coffee. Back in 2018, Monegasque Jerome Solamito, along with a few friends, cofounded Jorgensen Foods, a pure-play…

Marie-Pierre Gramaglia, minister of public works, the environment and urban development, has just announced the €2 billion Larvotto land extension site will reopen. “This project is essential for the development of the Principality,”…

Prince Albert is no longer in quarantine after he was confirmed to have coronavirus on March 19. A press release stated that the Sovereign’s doctors have given him a clean bill of health and that he will soon reunite with his family. Like…

The British chemical company INEOS, the chemical company founded by Monaco resident Sir Jim Ratcliffe, released a statement today saying it will build a third hand sanitizer plant in France in 10 days to help with a European shortage. “It…

As of yesterday, Monaco counted 33 confirmed cases of coronvirus. The first case, a twentysomething male diagnosed on February 28, has fully recovered, making the number of active cases as 32 . On Tuesday, March 24, minister of social affairs…

Benoîte de Sevelinges, head of Princess Grace Hospital Center (CHPG), has released a statement regarding the unprecedented Covid-19 health crisis facing Monaco’s hospital. In a press release, the 38-year-old director states…

As the number of confirmed coronavirus cases in Monaco continue to rise, currently at 33, including one recovery, the National Council has asked the government to authorize doctors in the Principality to prescribe hydroxychloroquine to…

As Monaco enters its second week of lockdown, two more coronavirus cases were reported today, bringing the total confirmed cases since February 28 to 33. From Friday, March 20, to Wednesday, March 25 cases in the Principality spiked 61.2%. …

The Palace continues to update the population on Prince Albert’s health. Having been confirmed to have coronavirus a week ago, the Prince continues his road to recovery, overseen with daily visits from his doctor and specialists…

According to the online retailer Ammo.com, sales over the past month of ammunition in the United States have been “massive.” "While people have stockpiled toilet paper, hand sanitizer, and pantry essentials, they've also…

Serge Telle, minister of state, told Monaco-Matin in an interview on Wednesday afternoon that Prince Albert has asked for an exceptional bonus to be paid to public service workes who have been involved in the unprecedented coronavirus…

As my father was an epidemiologist and renowned professor of infectious diseases, I cannot help but to bring some sense of context in the midst of the COVID-19 epidemic and its consequences on the world economy. According to the Centers…

Prince Albert has responded to a letter addressed to him from the National Council of Monaco. The open letter, signed unanimously and sent at noon, called for the government and the National Council to work in collaboration to overcome the…

As of Monday 5 a.m., Monaco’s sanitation company (Société Monégasque d'Assainissement, or SMA), began disinfecting public spaces in Monaco, including sidewalks and elevators. The minster of public works, the environment…

Forget Netflix and chll, from this morning, Monaco Telecom is offering customers free access to its boutique package of 28 entertainment channels. All customers with a Monaco Telecom TV box will also have free access to 5 channels…

The coronavirus has brought no love to the Rolex Monte-Carlo Masters, as director Zeljko Franulovic is forced to cancel next month’s tournament. On a typical mid-April day at the Monte-Carlo Country Club, a boisterous outdoor…

Unfathomable that we’ve produced 6 issues since our launch at the Yacht Club in November 2018 when we unveiled our first Forbes Monaco cover, which honored Shanu S.P. Hinduja, whose family ranks as the 65th richest in the…

A new law came into effect in July 31, 2019, making it mandatory for newcomers holding a foreigh driving license to apply for a Monegasque license (€80) within a year of acquiring residency in Monaco. After this 12-month period,…

We have entered a new era of luxury. The gigayacht. A recent ranking by Bloomberg of countries with the most superyachts within two miles of their coastlines between April 15 and April 18 2019 revealed that the U.S. topped the list with…

There are few surprises on this year’s most valuable brands list (see p. 13) as five of the top companies have long been the kings of capitalism. They have perfected the art of strategizing to attract and hold on to customers. Over…

Motor racing is a lifelong passion of mine. Coming from a country that has produced many racecar drivers, some iconic, I guess this passion developed naturally. I can recall as early as my teens, back in 1974, how exciting it was…

The first ever visit to Monaco by a Chinese head of state on March 24 was historic, marking the deepened political trust and unique cooperation between the two countries since diplomatic ties began in 1934. The images of President Xi Jinping’s…

The idea for a Monaco edition of Forbes came into play around the time the iconic title celebrated its centennial in September 2017. In his editorial “The First 100 Years,” Steve Forbes, Chairman and Editor-in-Chief…

EACH OF US has a wildly different idea of what makes Monaco unequivocally magical, but, whatever your expectations, it’s pretty near impossible not to fall in love with this tiny Principality. Whether it’s watching one of the…