HSBC winds down in Monaco

After a scandal-filled few years, HSBC is closing its Monegasque office and withdrawing from the Principality of Monaco, following similar departures by Crédit Suisse and Lloyds. CFM Indosuez Wealth Management will fill the gap, with HSBC transferring the majority of its private banking business to its competitor.Read more

Financial security for real estate agencies and their clients

Monaco banking giant CFM Indosuez Wealth Management has been chosen by the Chambre Immobilière de Monaco as the provider of financial banking security for their members. The agreement, which was signed in early September, has set down an unprecedented structure of financial security for affiliated real estate agents in the principality during the period that they hold funds and securities for their clients. The scheme covers all operations in which agents are performing transactions on property and business assets as well as those related to real estate management, administrative activities pertaining to properties and also property management companies. Read more

LVMH returns to ‘cradle of perfume’ Grasse

In an exciting cultural and historic decision, the Houses of Louis Vuitton and Christian Dior are returning to the perfumed foothills of Grasse. The town, known globally as the ‘cradle of perfume’ for its revolutionary development of the art between the 16th and 20th centuries, will not only benefit hugely in economic terms, but the move also places the region firmly back on the map as the beating heart of haute parfumerie.Read more

Carbon neutral status for Nice airport

Nice Côte d’Azur Airport has become the first aviation travel hub in France to be granted carbon neutral status after lowering its carbon emissions by 75% per kilogram, making it one of just 25 airports worldwide to hold that title. The certification has been awarded by the Airport Carbon Accreditation initiative, an independent management programme that aims to lessen airports’ negative impact on the environmental.Read more

Money really can grow on trees

Amid the stocks, bonds and real estate portfolios of the investment industry is a low-risk, high-return tactic that is turning heads with gathering speed. Timber investment in sustainable forestry is by no means a new type of investment, but its ecological vices - as well as the fact that the demand for timber has never been higher -  is making this asset class an intriguing alternative in a world where traditional ‘paper’ investments are looking increasingly unstable. Read more

Talent, inspiration and community contribution

Nomination season for the annual Riviera Business Club Business Person and Business Start-Up of the Year awards is in full swing. Riviera Insider caught up with Chair of the Jury Dorothy Foster to learn more about these prestigious awards and how entrepreneurs of the region can get involved. Read more

Summer sales have started

The season for cut-price shopping in the Var, Alpes Maritimes and Monaco has started. The Var followed the rest of France by launching its sales more than two weeks ago, but the Alpes Maritimes and the Principality of Monaco have only just caught up!Read more

Hi-tech new 50€ note unveiled

The European Central Bank has released information on the new 50€ banknote and its modern age security features, pledging that it will ‘make currency even safer’ and ‘underlines the Eurosystem’s commitment to cash as a trusted and efficient means of payment’. The note won’t be come into circulation until April next year, but eager cash lovers can get their hands on a pre-public release, but they’re have to set their minds to it… Read more

Airbnb to collect taxe de sejour

From the start of August, online rental service Airbnb will automatically collect the French taxe de sejour in Nice, Antibes and Cannes. The regional tourism committee for the Côte d’Azur has fought for some years for the ruling, which it says will bring more of an economically equilibrium between the French Riviera’s hotel industry and Airbnb.Read more

Riviera Business Club hosts cocktail networking event

The Riviera Business Club has extended a welcome to its Business Networking Cocktail Dinatoire event in Cannes this Thursday to both members and the public. Held at the trendy Quai 21 Business Centre, the night will be the perfect setting for guests to make new contacts and network in a warm and convivial atmosphere.Read more

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