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HSBC France To Cut Jobs 38%, EU Predicts French Economy To Plunge 10.6%
Monaco News

HSBC France To Cut Jobs 38%, EU Predicts French Economy To Plunge 10.6%


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…


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Family Tests Positive For Covid In Monaco

Family Tests Positive For Covid In Monaco


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…


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Monaco On Post-Covid Economy, Cryptocurrency, PayPal—And Larvotto Beach Reopens Saturday

Monaco On Post-Covid Economy, Cryptocurrency, PayPal—And Larvotto Beach Reopens Saturday


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…


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Another New Coronavirus Case Monday In Monaco

Another New Coronavirus Case Monday In Monaco

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…


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Tennis Star Tests Positive For Coronavirus As Monaco Reports 100th Case

Tennis Star Tests Positive For Coronavirus As Monaco Reports 100th Case

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…


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Covid Dropouts: How CFM Indosuez Wealth Management And AMADE Are Keeping Students Connected

Covid Dropouts: How CFM Indosuez Wealth Management And AMADE Are Keeping Students Connected

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.…


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More Support For Economic Recovery In Monaco

More Support For Economic Recovery In Monaco

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…


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35,000 People Tested In Monaco For Coronavirus, Results Published

35,000 People Tested In Monaco For Coronavirus, Results Published

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…


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A ‘Summer Unlike Any Other’ As France Lifts Restrictions And Opens Borders Monday

A ‘Summer Unlike Any Other’ As France Lifts Restrictions And Opens Borders Monday

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…


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UBS Sea Beyond The Blue

UBS Makes Impact With ‘Sea Beyond The Blue' As Monaco Shipping Brothers Partner With Optimus Foundation

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,…


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Fabrice Marquet Monaco

The Business Model

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…


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David Shilling

Millionaire Milliner Is Out Of This World—Almost

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…


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Felipe Massa Princess Charlene Foundation Virtual 24 Hours of Le Mans. Photo: ROKIT Venturi Racing

Massa Races At First Virtual Le Mans This Weekend To Help Princess Charlene Raise Money For Covid Vaccine

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…


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Coronavirus ‘Under Control' In France But Nice Airport T1 Won't Reopen Until March 2021

Coronavirus ‘Under Control' In France But Nice Airport T1 Won't Reopen Until March 2021

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…


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New Head At Barclays Monaco

New Head At Barclays Monaco

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…


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How To Order Safely Off Menu In Monaco

How To Order Safely Off Menu In Monaco

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…


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Blue Coast Brewing Company

Blue Coast Brewery Gets Crafty Post Lockdown

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…


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Monaco Most Expensive Property Per Square Meter

Monaco Remains World's Most Expensive Property, Says Savills

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,…


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Coronavirus Serological Testing Monaco Finger Prick

43% Monaco Residents Tested For Coronavirus, Work Force Screenings From Tuesday

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%…


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Kate Powers StarsnBars

Reach For The Stars’n’Bars: Monaco’s Favorite Family Restaurant Reopens Tomorrow

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,…


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Edouard Philippe French Prime Minister

France Enters Phase 2: “Freedom Will Become The Rule, Bans The Exception,” Says Prime Minister

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…


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French Economy Set To Shrink 20% Q2, Air France Reduces Flights By 40%

French Economy Set To Shrink 20% Q2, Air France Reduces Flights By 40%

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…


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CMB Raises €470,955 For Monaco Hospital

CMB Raises €470,955 For Monaco Hospital

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,…


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Charles Leclerc Forbes Monaco

Leclerc To Drive Monaco Grand Prix Circuit Sunday, Attention Road Closures

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…


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Monaco Minister of Finance and Economy Jean Castellini and Minister of Social Affairs and Health Didier Gamerdinger

Monaco To Reopen Restaurants, Bars, Beaches, Casinos June 2, But Nightclubs, Gyms And Cinemas Will Have To Wait

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…


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Coronavirus And Consular Services: What's Open For Americans in Monaco and France

Coronavirus And Consular Services: What's Open For Americans in Monaco and France

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…


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Monaco Starts Mass Coronavirus Testing Tuesday, First Schedule Released

Monaco Starts Mass Coronavirus Testing Tuesday, First Schedule Released

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…


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First Weekend After Lockdown: What You Can Do In France

First Weekend After Lockdown: What You Can Do In France

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,…


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Free Covid-19 Testing In Monaco For Residents And Employees

Free Covid-19 Testing In Monaco For Residents And Employees

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…


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On The Rock: Monaco Gin Sells Out In First Run

On The Rock: Monaco Gin Sells Out In First Run

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…


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Lifting of Lockdown In France Explained

Lifting of Lockdown In France Explained

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…


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Scrubs4Heroes Takes Couture in Monaco to U.K. Hospitals

Scrubs4Heroes Takes Couture in Monaco to U.K. Hospitals

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…


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As Lockdown Ends, Monaco Heads To The Balcony One Last Time

As Lockdown Ends, Monaco Heads To The Balcony One Last Time

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…


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Monaco Minister of State Serge Telle

Monaco’s ‘Stop And Go’ Lockdown Exit Strategy: ‘Residents Can Move Freely’ From May 4

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.…


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French Prime Minister Edouard Philippe

Lockdown Lowdown In France: What To Expect From May 11

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."…


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TedXMonteCarloSalon virtual session

TedXMonteCarloSalon Is Back Wednesday With 'Monaco And The Economy'

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…


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Amazon France

Amazon Loses Appeal, Deliveries Remain Limited During Covid-19 Pandemic

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…


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Coronavirus France Emmanuel Macron

Masks To Be “Recommended” Not Mandatory In France, Stores Could Reopen May 11

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…


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Coronavirus Masks Monaco

France Passes Coronavirus Peak, Mask Distribution Around Monaco

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…


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Deliveries Forbes Monaco

No New Coronavirus Cases, No Amazon Deliveries

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…


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Coronavirus Monaco

Distribution Of Free Masks For Monaco Residents From Friday

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,…


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Amazon To Shut French Warehouses April 16-20

Amazon To Shut French Warehouses April 16-20

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…


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Emmanuel Macron France

Macron Deals Economy Further Blow By Extending Confinement Until May 11

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…


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CMB Bank Monaco

CMB Launches Fund-Raising Campaign In Favour Of Princess Grace Hospital Center

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. …


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Isabel Kristensen and Princess Margarita

Belles Of The Ball

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…


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Ian Sosso

Head Of The Class

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…


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Coronavirus Monaco

Two New Cases In Monaco, Clinical Trials, Exit Strategy And Coronabonds

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,…


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coronavirus Monaco

Second Patient Dies From Coronavirus In Monaco

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.…


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Coronavirus Monaco

Four New Coronavirus Cases In Monaco Friday, Testing And Other Updates

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,…


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Roger Moore

Bond Will Be Back

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,…


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Jerome Solamito

The Brew Master

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…


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Chantier Monaco

Larvotto Construction To Resume

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,”…


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Prince Albert

Prince Albert Gets Clean Bill Of Health After Coronavirus

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…


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Sir Jim Ratcliffe

Ratcliffe To The Rescue: Monaco Resident To Make Million Bottles Of Hand Sanitizer in France

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…


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Monaco doctor

47 Patients Supervised Under Covid-19 'Home Patient Monitoring Center' In Monaco

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…


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Benoîte de Sevelinges head of Princess Grace Hospital Center CHPG

Rapid Coronavirus Testing Coming Soon, Says Monaco Hospital Director

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…


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Pharmacy Monaco

What’s The Deal With Hydroxychloroquine?

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…


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Two More Test Positive For Coronavirus, National Council Pushes For Hydroxychloroquine

Two More Test Positive For Coronavirus, National Council Pushes For Hydroxychloroquine

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%. …


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Prince Albert

Prince Albert On Road To Recovery

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…


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Sales Ammunition USA

Forget Toilet Paper, Americans Stockpiling Guns And Ammunition

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…


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Serge Telle minister of state Monaco

€1,000 Bonus For Monaco Public Service Workers

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…


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Monaco

When Billionaires Social Distance

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…


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Prince Albert II of Monaco

'Greatest Crisis Since World War II," says Prince Albert

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…


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Monaco Streets To Be Disinfected

Monaco Streets And Elevators To Be Disinfected

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…


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Monaco Telecom

Monaco Telecom Offers Free Channels

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…


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Zeljko Franulovic

Net Loss

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…


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Monaco Port

What Monaco Wants

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…


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Port Monaco

Getting Your Monegasque License

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,…


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Port Monaco

Size Matters in Monaco

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…


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One Monte Carlo SBM Monaco

Being Unique

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…


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Monaco Grand Prix 2019

Monaco Grand Prix: It’s In Our Genes

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…


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Chinese President Prince Albert Monaco

A Milestone For Monaco

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…


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Forbes Monaco first issue cover Hinduja

Progress Checker: Then Vs. Now

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…


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Publishers Luiz F. Costa Macambira and  Pierre-Antoine Racine

A Blueprint to Living the “Forbes Life”

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…


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Monaco Yacht Show

Monaco Yacht Show Postponed Until September 2021

Caroli Immo Wins €150M In Case Against State Of Monaco

Caroli Immo Wins €150M In Case Against State Of Monaco

Alan Walsh Gallery Monaco

New Art Gallery In Monaco Celebrates Formula One In Color

Men’s World No 1 Tennis Player Tests Positive For Coronavirus

Men’s World No 1 Tennis Player Tests Positive For Coronavirus

Opera Gallery Monaco