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Record Economic Year for Monaco in 2016

ECO club

ECO club: it is difficult for Monaco to increase economic influence even more when one has already achieved a record year in 2016. The Principality of Monaco takes up the challenge with its key economic players. The numbers confirm it. 2016 was an excellent year economically in Monaco. Though it would be difficult to do better, the Principality will try …

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An investor from Dubai, Selim Fendi, is planning to open the first gold refinery in Monaco in early 2017. This will be a guarantee for both local and international jewelers that they are not using raw materials from armed conflict and war zones. “Monaco Gold SAM will be producing up to 1 metric ton of gold per month in its …

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Banking Sector Undergoing Drastic Changes in Monaco

Banking in Monaco

The banking world is experiencing a profound metamorphosis. The requirement of transparency is omnipresent, reputation will be essential from now on. If transparency has become the key word in terms of communication, the banking world has been very discreet in the past. Branches shutting-down, mergering and restructuring, laying-offs. In the quiet little world of banks, silence was golden. The sector …

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600 Entrepreneurs Expected to Attend Monaco Business Expo

4th annual conference "Monaco Business"

The fourth annual conference “Monaco Business” dedicated to business leaders will take place on Tuesday, the 15th of November at the Auditorium Rainier-III. The theme of the day will be ‘the digital transformation.’ It’s a whole day annually dedicated to entrepreneurs in Monaco. As much as ten whole hours to help them with their businesses and develope networking. The fourth edition …

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Monaco Economic Board visited Azerbaijan

Baku Azerbaijan

Economic players representing thirty companies of the Principality have visited Baku, the capital of Azerbaijan last week. It must be said that the destination of the new mission organized by the Monaco Economic Board is not the most accessible. Why has the MEB decided to lead a trade mission in the Caucasus country situated on the Caspian Sea? In the …

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APG World Connect Conference took place in Monaco

APG Conference in MOnaco

Seventy airlines have met at the Fairmont Hotel in Monaco. The airline representatives came from all over the world: China, Ethiopia, Georgia, Saudi Arabia, and Kenya, among others. They all participated in the three-day event, the 8th APG World Connect Conference which was held from 2nd ̶4th November. APG is an international network of professional providers for airlines. This network …

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CFM takes over HSBC clients


As everyone knows, HSBC is closing up in Monaco, and after quite some confidential discussions, have come to an agreement, and will be having CFM Indosuez taking over the management of their client portfolios. After 17 years, HSBC has confirmed its departure, which is aligned with its global restructuring objectives being put into place since 2011. CFM Indosuez wealth management, …

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AMAF conference confirms the financial stability of the Principality

AMAF meeting

The financial market of the Principality is stable considering the current mixed global economic environment. This was highlighted during the Conference of the Monegasque Association of Financial Activities. Monaco is a prominent place, with over one hundred banks and asset management companies. During this conference the discussions were around the development and expansion of the Monegasque financial activities. Monaco is …

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HSBC Monaco to close office

hsbc to close in monaco

It was officially announced on Wednesday, that the British bank HSBC was preparing to close its activity in Monaco, which seems to be losing attractiveness for some international banking groups. The private banking branch of HSBC, based in Switzerland, let it be known that their clients would be redirected to Monaco CFM Indosuez Wealth Management, a financial institution owned in …

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SBM: annual results

SBM board of directors

The Annual General Meeting of the Société des Bains de Mer (SCM) was held in Monaco at the Hermitage Hotel at the end of September. It approved the accounts closed as of March 31, 2016. The results were then presented to the press by Mr. Jean-Luc Biamonti, chairman of the SBM. It shows that the turnover for the 2015-2016 fiscal …

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