Appointed earlier in March by Prince Albert II to the position of Minister for Finance and the Economy, Pierre-André Chiappori took up his duties a few days ago.
Last week, the Minister spoke about his roadmap in an interview with local TV channel Monaco Info. The economist and conference speaker discussed the tasks assigned to him by the Sovereign, as well as topical issues, such as Moneyval and the reforms that the Principality needs to implement in the fight against money laundering.
Monaco and the FATF’s ‘grey list’
“I have to say that the administration’s response has been extremely robust. The measures taken over the last two years are quite spectacular. We’re on the right track and we’ve made some really significant advances,” the Minister added. At the heart of the discussions surrounding the Principality is its potential inclusion on the Financial Action Task Force’s (FATF) ‘grey list’ of countries that are insufficiently diligent in the fight against money laundering. “It is in no way a punishment. We were already under special surveillance, but the grey list means even tighter surveillance. If this were to happen, it would mean that the FATF would indicate a certain number of points on which progress needs to be made,” said Pierre-André Chiappori.
The timescale for “completing the process and getting off the grey list” would be around a year and a half. The new Minister for Finance and the Economy also announced that he had “been in contact with the entire Monegasque administration.” “There is genuine unity. We are all convinced of the importance of what is at stake and we are all ready to commit, unreservedly,” he continued. The next step for Monaco is a meeting with the FATF in Istanbul, “which will, to a large extent, decide the outcome.”
The Sovereign is aware that Monaco is at a strategic crossroads
“We have been able to ride on the coat tails of a number of resources, particularly real estate,” says Pierre-André Chiappori, when asked about the roadmap he was given by Prince Albert II. “The Sovereign is aware that Monaco is at a strategic crossroads, as it were.” The Minister spoke about moves to diversify these resources, which have been under way “for some time now,” and about building on the Principality’s attractiveness. “We’re working hard on this, and this is the direction that we’re going to have to pursue and develop further.”
And to make Monaco even more attractive, the Franco-Monegasque Minister assures us that he is “taking forward what has already been done.”“There’s a whole communication aspect: getting the word out, getting the message across, but that’s not all (…) We need to consider all the ways we can Monaco attractive, everything that can make innovators, creators, people who have something to contribute to the community, feel good, feel at home in Monaco,” he concluded.
A round table was organised with Monaco’s leading hotels to discuss the issue.
While it’s not always easy to combine luxury with sustainability, it’s not impossible. And the panel of key figures present at the Fairmont on Wednesday 20 March will certainly not disagree.
Frederic Darnet, Managing Director of theMonte-Carlo Bay, Julie Niveleau of the CSR [Corporate Social Responsibility] Directorate at the Hôtel Métropole, Yara al Hattouni, Director of Operations at the Méridien Beach Plaza, Guillaume Rapin, Managing Director of the Novotel Monte-Carlo, Ursula Fabre, Head of Digital Marketing at theColumbus Hotel and Marine Doornekamp, Head of CSR Development at the Riviera Marriott Hotel, were able to debate with attending tourism and energy transition stakeholders on the subject.
As a reminder, all these establishments have signed the National Pact for Transition, which aims to reduce greenhouse gas emissions by 50% by 2030 (compared to 1990 levels) and to achieve carbon neutrality by 2050. As part of this, a system has been set up to measure their energy consumption. It paints the following picture:
Efforts must be continued to raise customer awareness on waste sorting
To cope with drought, there are solutions for producing drinking water
Soft mobility (bicycles, scooters) should be more widely deployed and promoted to customers
Employee buy-in to a hotel’s CSR approach is essential
Being a committed and responsible hotel means changing everyone’s behaviour
The establishments shared the solutions they have put in place or are planning to implement to limit their environmental impact, such as working with local suppliers who are committed to the environment, reimbursing employees for their bicycle subscriptions, and using greywater in toilets.
The Spanish-Argentinian duo won the tournament on Sunday afternoon against Maximiliano Arce and Franco Dal Bianco (6/4, 6/3), watched by Prince Albert II.
The ‘Magicos’ continue to be unstoppable. With 10 wins in 10 matches and without dropping a single set, Tolito Aguirre and Gonzalo Alfonso have made a stunning start to the season with their win in the Principality following on from a victory at the Puebla Open.
At the end of a thrilling and balanced final, with seven breaks in the first set, the winning pair seized on a few errors by Maximiliano Arce and Franco Dal Bianco to pull ahead, in particular thanks to a service break in the first game of the second set.
An excellent final with incredible rallies
Leonel Aguirre and Gonzalo Alfonso had a more relaxed playing style and wove the magic that is their stock-in-trade, pulling out incredible winners and achieving a logical victory with another break in the ninth game.
They set the court and the crowd alight right next to the legendary Monte-Carlo Casino. Their next stop on the A1 circuit is in Santiago, Chile, from 15 to 21 April.
On Saturday 30 and Sunday 31 March, a range of activities are on offer for children.
Easter is fast approaching, and Monaco Town Council has put together a very fun programme for the Principality’s children!
As last year, the Botanical Centre will be hosting the traditional “plant hunt” on Saturday 30 March, from 9.30 am to 12.30 pm. Little explorers aged 3 to 12 will have the chance to venture into the botanical greenhouses. The roughly 45-minute expedition promises to be full of discoveries. The activity is free, but booking is necessary. Please also note that your child must be at school or living in Monaco.
And as if that wasn’t enough, on Sunday 31 March, from 2 pm to 5 pm, the Parc Princesse Antoinette will be transformed into a children’s paradise. On the programme: farmyard animals, face-painting workshops, biscuit decorating, adorable mascots and, of course, chocolates. Admission is free, so come along to the Park for a fun-filled afternoon. Last but not least, a surprise guest will be making a special appearance at the Marché de la Condamine from 9.30 am: an Easter bunny will be handing out chocolate eggs, adding a touch of magic to the day.
So get ready for a colourful Easter weekend full of surprises in Monaco!
Practical information :
Plant hunt :
> Where : Centre Botanique, 87 Boulevard du Jardin Exotique, 98000 Monaco
> When : Saturday 30 March 2024 between 9.30 am and 12.30 pm
> Price and booking : Free of charge – book by calling +377 93 15 29 80 or email jardin-exotique@mairie.mc
Easter at the Parc Princesse Antoinette
> Where : 54 Boulevard du Jardin Exotique, 98000 Monaco
> When : Sunday 31 March 2024 from 2 pm to 5 pm
> Free admission / Information: +377 93 15 29 33
On Saturday 23 March, the Sporting Monte-Carlo took the Princely Family and their many guests back to the Disco era, for the 68th edition of the event in aid of the Princess Grace Foundation.
Wearing a silver jumpsuit covered entirely with sequins, Princess Charlène appeared alongside Prince Albert II, Princess Caroline, president of the event, and French designer Christian Louboutin, artistic director of the Ball in recent years. It was a particularly memorable entrance by Princess Charlene, whose last appearance at the Bal de la Rose was around ten years ago. And for the occasion, she opted for a new hairstyle, a bob style with a fringe, which was particularly popular in the 70s and 80s.
This year, the 68th edition of the charity event was on a disco theme. A tradition since 1957, the theme sets the tone of the evening, the decor and the show. With some 59 mirror balls (and a lot of glitter), the Salle des Étoiles at Sporting Monte-Carlo went back to the 80s. On the food side, a team of 40 people provided a unique meal for the 800 guests. On the menu, caviar, sole, farm chicken with truffle stuffing and a touch of chocolate for dessert. The Master of ceremonies for the evening was journalist and TV host Stéphane Bern, who was also the caller for the raffle, organised at each edition to raise funds which are then donated to the Princess Grace Foundation.
On stage, choreographer Sadeck Berrabah and his 48 dancers put on a great show backed by the biggest hits of the 80s, as did Shangela and Chad Michaels, two drag queens, who performed hits by two Disco icons: Donna Summer and Cher. They were followed by Gloria Gaynor, the American singer who embodies the Disco movement, performing her world-renowned hits. As every year, the guests then adjourned to the dance floor, for an after party provided by DJ Kiddy Smile.
Carlos Sainz (Ferrari) won the race ahead of Charles Leclerc (Ferrari) and Lando Norris (McLaren).
He couldn’t have wished for a better comeback. After missing the Saudi Arabian Grand Prix following an appendectomy just a fortnight ago, the Spanish driver pulled off an unbelievable result in Melbourne: the top step on the podium.
Carlos Sainz was quick to take advantage of Max Verstappen’s retirement due to a problem with his right rear brake, which caught fire on the fourth lap of the race. The first time the Dutchman has had to pull out of a race since 10 April 2022.
Starting from second on the grid, Carlos Sainz showed he meant business from the outset, overtaking the three-time world champion on the second lap before his mechanical problems.
And after the Dutchman retired, the Spaniard handled his race, his tyres and his lead perfectly to fend off Charles Leclerc, who had started in 5th on the grid, enabling Scuderia Ferrari to celebrate its first one-two since the 2022 Bahrain GP.
The first Ferrari double since 2022
Behind the two Ferraris, came the McLarens of Lando Norris and Oscar Piastri in his home race, in third and fourth respectively.
“It’s great for the team, it’s our first one-two since Bahrain 2022 so it’s great to be able to pull it off. Carlos (Sainz) had an incredible weekend,” said the Monegasque driver with a smile.
Personally, I struggled with the tyres during the second part of the race. I did what I could. But Carlos did a better job than me and clearly deserves the win. I’m very happy for him and for the team, because we’re chalking up major points. We wanted to maximise our chances of points this weekend, and we couldn’t have done any better.”
The next event is the Japanese Grand Prix on 7 April at Suzuka.
Created in 1954, the Bal de la Rose will have its 68th edition on Saturday, March 23. These archive images show us the illustrious Monegasque event through the years.
It is one of the key events in the Principality’s social calendar, as leading figures from Monaco and elsewhere gather to party for the evening. In the prestigious Salle des Étoiles at the Sporting Monte-Carlo, the Bal de la Rose became a charity event in 1964, following the creation of the Princess Grace Foundation. Every year, all the funds raised by the sale of tickets and raffles organised on the night are donated to the charity.
Right from the outset, the social event attracted leading figures from all walks of life. They come to party in a glamorous and elegant setting that only the Principality can offer, alongside Monaco’s Princely Family. At first there was no specific theme every year, but that soon changed. In 1957, the evening was themed ‘Mimi la rose’.
The room was decorated entirely in white and gold, with over 10,000 roses. André Levasseur created the decor and the entertainment was provided by the 100-member string orchestra conducted by Maestro Louis Frosio (see photo below), the former SBM Conductor who died in 2013.
For a few years now, designer Christian Louboutin has been in charge of the event’s decor, with specific themes, such as 2022’s “The Roaring Twenties” or the 100% Bollywood edition in 2023. On Saturday, for its 68th edition, the Bal de la Rose will be all about Disco. Shangela and Chad Michaels, two drag queens “right out of the 80s”, will perform hits by two Disco icons: Donna Summer and Cher. The choreographer Sadeck Berrabah and his 48 dancers will put on a great show with the biggest hits of the 80s, before handing over to Gloria Gaynor! Through her hits I Will Survive or Never Can Say Goodbye, the American singer also embodies the disco era, and will bring the show to a close.
You will be able to enjoy Luigi Boccherini ‘s Stabat Mater, narrated by Juliette Degenne and soprano Stefanie Steger. The two artists will be accompanied by a quintet of musicians from the OPMC, for a moment out of time.
The Stabat Mater is a religious work by Luigi Boccherini (1743-1805), composed in 1781 and revised in 1800. Boccherini was a musician best known for his chamber music. His Stabat Mater was commissioned by the King of Spain’s younger brother, Luis of Spain, Count of Chinchón. It was destined for a liturgical service at the Palacio de la Mosquera, Arenas de San Pedro, where they lived. The text dates from the 13th century and is attributed to Jacopone da Todi, who meditates on Mary’s suffering during the crucifixion of Jesus.
The concert, organised in partnership with the Diocese of Monaco’s cultural department, will also featue a reading of texts by Charles Péguy, taken from Le Mystère de la Charité de Jeanne d’Arc.
The show will take place on Friday 3 May at the Grimaldi Forum Monaco.
The legendary Jake and Elwood, better known as the Blues Brothers, are set to bring the Salle des Princes at the Grimaldi Forum to its feet in a unique show on 3 May 2024! Dressed in their iconic black hats and ties and dark glasses, they promise a memorable evening packed with humour and music.
Worldwide success
This AMPM production, starring Brad Henshaw as Jake, has already been a huge success around the world. Endorsed by Dan Aykroyd and Judith Belushi, it has already completed five successful tours of London’s famous West End, a seven-week residency in Chicago and a 14-week tour across the United States. Since 1995, it has been setting venues alight in the four corners of the globe.
If you’re not familiar with them, the Blues Brothers emerged in the 1970s, in a comedy musical film starring John Belushi and Dan Aykroyd. The double act won over the public. with the resounding success of their debut album ‘Briefcase Full Of Blues’ and a dazzling tour across the United States. The cult comedy has seen a host of soul and blues legends take to the stage, with masterful renditions of iconic songs by Ray Charles and Aretha Franklin. Classics such as “Everybody Needs Somebody to Love”, “Soul Man” and “Think” are still on today’s playlists.
Celebrating the legendary duo, ‘The Blues Brothers… Approved’ takes you on a musical journey of soul, blues and R’n’B. The live show is performed by exceptional musicians, singers and backing singers, in a lively tribute to the Blues Brothers legend.
L’Équipe sports newspaper has published its traditional ranking of football players’ salaries across all Ligue 1 clubs.
Wissam Ben Yedder is the only AS Monaco player to feature in the league’s top 30 best-paid players, a ranking that is mostly dominated by players from Paris Saint-Germain (16 listed) and Olympique de Marseille (4 representatives).
At €650,000 gross per month, the Monaco striker is in 11th place in a list headed up by Kylian Mbappé (€6 million), Ousmane Dembélé (€1.12 million) and Marquinhos (€1.12 million).
For AS Monaco, behind Wissam Ben Yedder, Aleksandr Golovin (€300,000) and Denis Zakaria (€300,000) complete the podium.
It should be noted that neither of the ASM’s two goalkeepers, Philipp Köhn (€100,000) and Radoslaw Majecki (€145,000), are among the club’s top 10 earners.
It reopened on 15 March after a complete refurbishment.
Located on the Avenue des Spélugues, a stone’s throw from the Hôtel Métropole and the Casino de Monte-Carlo, this establishment has been delighting lovers of fine food since 1938. While the acquisition marks a turning point in Tip Top’s history, the restaurant retains its status as a key institution in Monaco with Antonio Salvatore at the helm.
The Michelin-starred chef will be offering a brand-new menu featuring local produce of “exceptional quality”, while preserving the culinary heritage for which the restaurant has been renowned for over 85 years. From fresh salads to crispy pizzas, savoury pastas to grilled meats, fresh fish to gourmet burgers… you’re sure to find what you’re looking for. “At Tip Top, we believe in the importance of preserving traditions while innovating for the future,” said Antonio Salvatore in a press release.
Founded by a group of friends, including Prince Rainier III, Tip Top has become a benchmark over the decades, delighting sports and entertainment celebrities as well as the general public. Whether it’s for a lively evening with live performances, to watch a match, or simply to spend time with friends in a chic and relaxed atmosphere, Tip Top embodies the very essence of the Monegasque lifestyle.
The legal case, which dates to 2015, is finally over.
Regarding charges brought in 2015, Dmitry Rybolovlev’s lawyer Tetiana Bersheda has now been cleared of any wrongdoing, reveals Monaco-Matin. The decision comes four months after her client Dmitry Rybolovlev and former Monaco public prosecutor Jean-Pierre Dreno were exonerated. According to the Monaco daily, the public prosecutor’s office dismissed the case, and the victim, Tania Rappo, withdrew her complaint. The trial was held in camera at the Principality’s law courts on Tuesday 12 March.
We need to press rewind to understand this chapter in a dispute that began nine years ago between AS Monaco president Dmitry Rybolovlev and Swiss art dealer Yves Bouvier. Rybolovlev accused the art dealer of swindling him over the sale of masterpieces. The Russian billionaire filed a complaint against Yves Bouvier as well as against Tania Rappo, a friend of the two men who allegedly acted as a go-between, and who he accused of taking advantage of the situation for personal gain.
During the investigation, Dmitry Rybolovlev’s lawyer, Tetiana Bersheda, provided the Police Department with a recording proving the alleged complicity between Tania Rappo and Yves Bouvier. But the audio file in question, again according to Monaco-Matin, was recorded during a private dinner at Dmitry Rybolovlev’s home. Tania Rappo then filed a complaint not only against Tetiana Bersheda, but also against both Dmitry Rybolovlev and Monaco’s former public prosecutor, Jean-Pierre Dreno, for invasion of privacy.
Lawyers Thomas Giaccardi and Martin Reynaud also commented to the Monegasque daily on the dismissal of the case against their client, Dmitry Rybolovlev, in November: ” There were no grounds to prosecute him. The investigating judges acknowledged this and rendered the only possible decision. There will be no trial against Dmitriy Rybolovlev, who has been definitively exonerated.”
Lawyers Thomas Giaccardi and Martin Reynaud also commented to the Monegasque daily on the dismissal of the case against their client, Dmitry Rybolovlev, in November: “There were no grounds for prosecution. The examining magistrates recognised this, and made the only logical decision. There will be no trial against Dmitry Rybolovlev, who is completely exonerated.”
The Sovereign spoke to Stéphane Bern in an exclusive interview published on Wednesday 20 March.
A few days ago, Prince Albert II celebrated his 66th birthday with employees, residents and Monegasques on the Place du Palais. Paris Match took advantage of the demonstration of the strong bond between the Prince and his Principality’s citizens to broach the topics that currently occupy the Head of State’s daily schedule.
Prince Albert II began by raising the recent developments in the Claude Palmero affair. The Prince’s former estate administrator, who was relieved of his duties in June 2023, has levelled a series of accusations against the Monegasque Sovereign and started a certain number of legal proceedings. In an investigation published by Le Monde in January 2024, Claude Palmero leaked notebooks detailing his actions during his years in office at the Palace.
“It’s never easy when you feel betrayed by people you once trusted (…) When someone doesn’t want to accept a courteous offer of retirement, and that disappointed person comes and threatens you in your office, it’s extremely unpleasant at a personal level, and above all futile. Now we have to see the process through, the courts will decide,” said Prince Albert II. “My past experiences have enabled me to develop something of a hard skin (…) But you know, the quote ‘When sorrows come, they come not single spies but in battalions’ is fairly accurate. An accumulation of small problems, here at the palace, in the government or of a more personal nature, compounds the matter. And while the number of difficulties certainly complicates things, it also makes me stronger. We never stop learning,” he added.
Wide support in Monaco and beyond
The Sovereign spoke about the support he has received in connection with the high-profile affair. On the one hand, from France’s President, Emmanuel Macron, most recently in a letter published on the Prince’s 66th birthday. “The President of the Republic has shown me his support on several occasions, and I am very happy that we have this friendship and closeness with France. We hope that President Macron will pay us an official visit very soon,” said Prince Albert II.
He also mentioned the entire Princely family, who were all present for the Sovereign’s birthday on 14 March. “Thankfully, my whole family is there for me, showering me with their affection, both my immediate family and the extended family of Monegasques. We are one and the same family, united and mutually supportive.” Naturally, Princess Charlene was also mentioned: “She was also very upset for me, and saddened by certain things that came out in the media. We supported each other. She has resumed many of her activities, more public engagements, to everyone’s delight.”
During the interview, Prince Albert II talked about how Hereditary Prince Jacques and Princess Gabriella, his children, are growing up, as they turn 10 this year. “She’s a little miss with an independent character and she expresses herself quite freely,” said the Sovereign, describing his daughter, and added: “We thought Jacques was more of an introvert, but he’s been gaining confidence for some time now. He looks out for his sister.” As for their daily lives and the obligations that go with their title, he said: “they are very tight, very close. They’ve both understood the rather special role they’ll have to play and their obligations, even though I don’t dwell too much on that aspect, so as not to stress them.” The Sovereign conceded that “they don’t enjoy certain obligations much,” but tempered this by mentioning the Saint Devota festivities, in honour of Monaco’s patron saint, during which a boat is set ablaze, and in which he said “[they] like to take part.”
I’m proud and happy to have made a small contribution to preserving the oceans and biodiversity
After speaking fondly of his children, Prince Albert II mentioned his mission, at the helm of a small state like Monaco. “If I were to tell you that I enjoy my role as sovereign 24/7, I wouldn’t be honest with myself. There are difficult moments and fabulous ones, moments of joy and community (…) Sharing your visions with everyone is the hardest part. I’m proud and happy to have made a small contribution to preserving the oceans and biodiversity, but it’s sometimes frustrating to realise that it’s not a priority for everyone. Not just the oceans, but also tackling all the different crises, whether it’s climate or energy…” The Prince regrets “that these issues, for example, aren’t better understood by heads of state or government.”
“The Principality shines out, far beyond its borders”
“We mustn’t forget that Monaco is a micro-State, but the Principality shines out, far beyond its borders and is making a name for itself through its different charitable, environmental, sporting and cultural activities,” said the Sovereign. “On the one hand, we’re trying to ensure that the country is recognised on the international stage, while on the other we’re practising micromanagement. » He explained: “I would like everyone to be able to work and find accommodation in Monaco, which is a challenge given the small size of our territory.”
I think the Principality has a role to play as a peacemaker
The discussion continued around the Principality’s economic growth, the Mareterra development due to be delivered by the end of the year, and the Grimaldi Forum extension. “We can boast double-digit growth, which proves that the country has been able to diversify its economy in quite a remarkable way since my father’s reign (…) Monaco remains a safe haven because of its stability, security and economic opportunities.”
In October 2023, the Sovereign expressed his support to the President of Israel, following the attack carried out by members of the Hamas Islamist movement. Six months on, he says, “Whether it is the conflict in Ukraine or the Middle East, I am concerned about the current international situation.I think the Principality has a role to play as a peacemaker,” said Prince Albert II.
The discussion ended on a lighter note, the 2024 Paris Olympic Games. “My family history and my relationship with Princess Charlene are obviously linked to the Olympics. I will be there for the Paris games and the Princess and I will cheer on the Principality’s athletes. We’ll attend the swimming and athletics events in particular.”
Monaco is launching its new on-demand transport service, ClicBus Monaco, from 25 March.
A new means of transport is coming to Monaco! ClicBus is part of the Mobility Plan launched by the Monaco Government in February.
The initiative is designed to complement the existing urban transport offering by meeting the travel needs of residents in areas that are not covered by existing bus routes, namely Plati, Fleurs and Annonciade. Passengers in these areas can be picked up and dropped off at four strategic stops: Place d’Armes, Fontvieille shopping centre, Monte-Carlo Tourisme and Place des Moulins.
The new system will be operated by electric vehicles, including mini-buses suited to PRM [Persons with Reduced Mobility] transportation, with eight or 20 seats.
Flexible timetables on demand
ClicBus Monaco’s operating hours are extended to meet the needs of users. During the day, the service will be available 7 days a week, from 7 am to 9.20 pm. At night, it will serve all the Principality’s bus stops from 9.20 pm to 1.30 am, and until 2.30 am on Fridays and Saturdays, with the possibility of extending the timetable in summer.
To use the service, all you have to do is order a bus from the nearest bus stop via the mobile app or by telephone, during the service’s operating times. ClicBus Monaco fares are the same as all the bus routes in the Principality. The network’s tickets and passes will be accepted, and it will also be possible to buy tickets on board.
After the introduction of the new service, the CAM’s route 7 will be withdrawn, from the evening of Saturday 23 March.
The number of employees in the private sector rose to 58,326 in 2023, according to figures published by IMSEE – Monaco Statistics.
Monaco appears to have risen to the attractiveness challenge. In 2023, an extra 2,089 hommes et 765 femmes were salaried workers, compared to 2022, according to data provided to IMSEE by Monaco’s social security authorities. Of the total 58,326 employees recorded in 2023, most work in the scientific and technical activities sector, followed by accommodation and catering, with construction in third place.
As is only logical, cumulative work hours also rose over the year, by exactly 5,5% compared to 2022, to 103 million. The study also reports a total number of 6,357 employers.
The typical profile of a private sector employee
Still in the private sector, there are more men than women (62% vs 38%), and the average age is 42.4. In terms of nationalities, French workers are on the top step of the podium (61%), Italians in second(15%) and Portuguese employees in third (7%). A total of 140 nationalities were recorded. Monegasques represent only 2% of the Principality’s private sector employees.
Roughly in step with the nationality figures, 80% of salaried workers live in the Alpes-Maritimes, 11% in Monaco and 9% in Italy. The full report is available via this link.
