Economy


In a context of mobilization and economic stimulus, the Prince's Government is putting in place a renovation bonus for individuals

In a context of mobilization and economic stimulus, the Prince's Government is putting in place a renovation bonus for individuals. This allowance is intended to encourage individuals to do work in their homes, by calling on the Principality building professionals. This renovation bonus can be claimed by tenants and / or owners of the Principality, aged over 65, who want to do work in their homes in the Principality by using Monaco companies on the basis of of a simple request. Its amount is 20 % of the total VAT of the works, capped at à 2 The bonus will be paid directly by the state to the company chosen by the individual, upon presentation of the invoice. The Government's resolve is to improve the quality of life of residents and Monegas...

Now, earn money while staying at home in pyajamas and watching TV shows, here's how

Do you want to get paid to watch your favorite TV series from the comfort of your homes? Then you will be happy to know that a British loungewear brand is looking to employ people to do just this. Loungewear brand Pour Moi is willing to pay as much as EUR 300 to people hired by the company to test out its comfy pyjamas and other clothes. It may sound surprising but the UK-based company is willing to pay to someone to stay at home all day wearing the pyjamas manufactured by the company. An advertisement has been published by Pour Moi seeking to recruit a comfy clothing tester. If you want to make use of this unique earning opportunity then you have until October 12 to lap up this opportunity. If you wish to apply, then you must first know...

Tesla value hits $420 billion, Musk thanks hardworking team

San Francisco: Elon Musk thanked his hardworking team at Tesla as the electric car makers market cap reached $420 billion which is equal to the next top five carmakers combined together. Musk took to Twitter, thanking the Tesla engineers and other workers. "Thanks to a smart and hardworking team at Tesla. These sure are wild times…" Tesla even surpassed Johnson & Johnson in terms of market cap. There are only seven companies in the S&P 500 index worth more, including Visa at $447 billion and Apple at $2.16 trillion, reports Barrons.com. About two months ago, the EV maker was at $200 billion. It first hit $100 billion in January. With factories in the US and Shanghai, China, and another under construction in Berlin, G...

Monegasque Economy Bulletin - Between confinement and deconfinement, the “expected economic poor performance” in the second quarter

The Monegasque Institute of Statistics and Economic Studies (IMSEE) unveiled, Monday, September 21, to the press, the Principality's Economic Bulletin *. Surrounded by Government Councilors - Ministers Didier Gamerdinger and Jean Castellini, Sophie Vincent, Director of IMSEE, indicated the exceptional nature of this period April-May-June 2020, straddling confinement and deconfinement, explaining unpublished figures. Over the first half of the year, compared to the same period in 2019, the Principality's turnover plunged by 13%, losing more than € 900 million. “Only two sectors are resisting: Construction and Scientific and Technical Activities, administrative and support services. On the other hand, the hotel and catering industry lost 60...

Launch of the First Monegasque Nano-Satellite

Launch of the First Monegasque Nano-Satellite On Wednesday, September 9, H.S. Prince Albert II invited officials and employees of Orbital Solutions Monaco (OSM) to the Princely Palace, a young Monegasque start-up who at the beginning of this month sent a manufacturing satellite nano Monegasque Founded and led by Mr. Francesco Bongiovanni, Orbital Solutions Monaco is located in the Fontvieille district and has only a few employees. Mr. Mr. Bongiovanni reminded during his speech that this small 10-kilos satellite is now flying over our heads at an altitude of 530 km. This concentrate of technologies completes a tour of the Earth (revolution) in 90 minutes at a prodigious speed of 28.000 km / h; it collects and transmits climate and atmospheri...

The two students who took on Coke and Pepsi

Students Mirco Wiegert and Lorenz Hampl had decided to set up their own cola company, but there was a catch - they had no idea how to make the fizzy drink. With the confidence of youth not letting that inconvenient fact put them off, they decided to do some research. "We Googled for cola recipes and ingredients," says Mirco, who was 28 at the time, in 2003. Unfortunately, the internet was not particularly helpful in answering that question, so the two childhood friends from Hamburg, in northern Germany, had to think of a plan B. They started phoning breweries across the country to see if one might be able to help them develop a cola recipe, and then bottle the drink for them. But with all the brewers busy making Germany's cel...

Unlikely alliance against Corfu luxury resort

An unlikely alliance of wealthy landowners, environment activists and residents has emerged on the Greek island of Corfu, where a disputed resort officially launched in July after a near-decade delay. The 120-million-euro ($139-million) Kassiopi Project is situated in pine-forested Erimitis, one of the island's most pristine areas that lies a short distance from the Albanian coast. New York-based investment fund NCH Capital, which secured the property in 2016, plans to build a 90-room five-star hotel, luxury residences and a marina. Prime Minister Kyriakos Mitsotakis has already drawn fire over his conservative government's encouragement of projects in environmentally sensitive areas. These include hydrocarbon exploration near marine wi...

The gambling industry in Monaco

The plan for casino gambling was drafted during the reign of Florestan I in 1846. Under Louis-Philippe's petite-bourgeois regime, however, a dignitary such as the Prince of Monaco was not allowed to operate a gambling house.All this changed in the dissolute Second French Empire under Napoleon III. The House of Grimaldi was in dire need of money. The towns of Menton and Roquebrune, which had been the main sources of income for the Grimaldi family for centuries, were now accustomed to a much improved standard of living and lenient taxation thanks to Sardinian intervention and clamored for financial and political concession, even for separation. The Grimaldi family hoped the newly legal industry would help alleviate the difficulties they faced...

Carrefour Monaco is committed

Carrefour Monaco signed the National Pact for Energy Transition. The recent arrival of the new Director, Rémi Feipeler, has instilled a new conception of ethical and responsible purchasing, as well as many positive changes in energy transition. Among other flagship actions, let us quote: - a new store refrigeration system - which is in the process of being implemented - and which leads to an energy saving of 25%. This new central cooling system runs on CO2 and no longer on freon, which allows greenhouse gas emissions to be divided by 2,700 - alternatives to single-use packaging (deployment of bulk and offer of sustainable and eco-responsible packaging) - a delivery service with an electric vehicle carried out by a service provider with...

Caisses Sociales of Monaco pledge to energy transition plan

The Caisses Sociales of Monaco (CSM) has officially joined the National Pact for Energy Transition, adding to the long list of Monegasque businesses who have signed up to the promise of sustainability. The CSM’s Director, Jean-Jacques Campana, met Wednesday 9th October with Annabelle Jaeger-Seydoux, Director of the Mission for the Energy Transition, along with their respective teams. CSM’s commitment is two tiered, as they are owners of buildings that house the Principality’s pension funds (Caisse Autonome des Retraites) and as a business of the tertiary sector. The Caisses Sociales and their 240 employees already adhere to several environmentally friendly practices, such as eliminating plastic bottles and cups from the worksite, purchas...

Cybersecurity experts meet in Monaco

An estimated 3,000 experts in the world of cybersecurity have come together at the Grimaldi Forum for the 19th edition of the Assises de la Sécurité (Security Inquest), and Monaco has laid out its mission to be at the cutting edge of the industry. Minister of the Interior Patrice Cellario opened the conference yesterday morning, followed with a speech by Guillaume Poupard, Director General of the French National Agency for Security Information Systems (ANSSI). Amongst topics that will be discussed are issues pertaining to the sovereignty and veracity of the cloud and Cyber Threat Intelligence (CTI). CTI is termed as information an organisation uses to understand the threats that have, will, or are currently targeting an organisation. This...

Vroom wows investors and crowds

Some of the most exciting disruptive start-ups in Europe were brought together in one place on Friday to present their innovative concepts to local and international investors. The Vroom Summit has risen beyond expectations once again, presenting everything from a solar powered car and Formula 1 simulator to a new biometric fingerprint for the art world. Monaco Life spoke to Penelope Hope, Head of Luxury and Innovation Partnerships, about the value of Vroom and how this year’s outstanding selection was chosen. What is the concept behind the Vroom Summit? Penelope Hope: Vroom Summit is designed to bring the best-of-the-best from the start up world to the top members of our investor syndicate across Europe. The concept is that we have a v...