Saturday , May 27 2017
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Package sent from France containing 792 live ants intercepted by customs


PARIS: Customs officers recently intercepted a shipment of live ants sent to China from France, saying that the alien species could have posed a risk to the ecosystem. A total of 792 live ants and more than a hundred ant eggs packed into more than 300 test tubes were intercepted and inspected by the Hunan Province Entry-Exit Inspection and Quarantine ... Read More »

French authorities raid soccer stars’ homes in tax probe


PARIS: The homes of Paris Saint-Germain players Angel Di Maria and Javier Pastore were searched on Tuesday morning by French anti-corruption officers, in the latest tax fraud probe to rock the football industry. According to reports by the French investigative news site Mediapart, the players are being investigated in connection with the probe into the use of tax havens to ... Read More »

France’s Compagnie des Alpes H1 core profits lifted by theme parks unit


PARIS: French ski resort operator Compagnie des Alpes reported on Tuesday a slight increase in first-half core earnings as strong growth in its theme parks business offset a slight decrease its core ski resorts operations. Earnings before interests, taxes, depreciation and amortization (EBITDA) were up 1.8 percent over the six months ending in March at 167.9 million euros ($188.6 million). ... Read More »

Scarcity of organic dairy produce in France


PARIS: As the French organic market continues to thrive, organic dairy product supplies are becoming scarce on the French market, according to Stéphanie Lahad in Bord Bia’s Paris Office. Organic dairy is increasingly popular in France where 71% of the population are reported to have consumed organic dairy products in 2016, according to Agence Bio. This segment should continue to ... Read More »

French CMA CGM profit rises again in current quarter

cma cgm

PARIS: Container shipping line CMA CGM posted higher first-quarter profits, helped by a turnaround at recently acquired NOL, and gave an upbeat assessment for the current quarter in another sign that the shipping industry is emerging from a slump. The French-based group reported on Friday a first-quarter net profit, including Singapore-based NOL which it consolidated in June last year, of ... Read More »

France, Uganda sign Shs 6.2 bln power generation deal


PARIS: The government of Uganda through its agency, the Uganda Electricity Generation Company Limited (UEGCL) has received a grant worth Shs 6.2 billion from a French development agency (AFD) to facilitate the process of undertaking feasibility studies for a number of small hydro-power generation sites. The sites are located in the off grid of West Nile region. They are Okulacere ... Read More »

French unemployment dips


PARIS: The job market in France is picking up. The latest figures show that at the start of this year unemployment reached its lowest level in almost five years. The jobless rate fell to 9.3 percent of the workforce for mainland, or metropolitan, France between January and March from 9.7 percent at the end of last year. Including France’s overseas ... Read More »

French exports to rebound in 2017

Singapore non-oil exports rises strongly, up 8.6% in January

PARIS: France’s exports of goods should rebound this year after deterioration in the current account weighed on growth last year, the central bank said. Bank of France governor Francois Villeroy de Galhau said that a recovery in the euro zone and broader global economies would drive a rebound in exports this year. “The net contribution from foreign trade, which was ... Read More »

French exports to rebound in 2017


PARIS: France’s exports of goods should rebound this year after a deterioration in the current account weighed on growth last year, the central bank said on Thursday. Bank of France governor Francois Villeroy de Galhau said that a recovery in the euro zone and broader global economies would drive a rebound in exports this year. “The net contribution from foreign ... Read More »

UAE, France bilateral trade set for boost with new French president


ABU DHABI: Bilateral trade between France and the UAE is expected to get a further boost with the election of Emmanuel Macron as the new president of France, according to economic experts. Macron who is known for pro-business and pro-globalisation policies beat far right candidate Marine Le Pen in this week’s French presidential elections to become France’s youngest leader since ... Read More »

FTSE 100 closes flat after French election


PARIS: The FTSE 100 share index was just 3 points or 0.05% higher at 7,300. In France, the Cac 40 index opened higher but quickly lost ground to close 49 points or 0.9% lower at 5383. On the currency markets, the euro touched $1.1024 in Asian trade – a six-month dollar high – but then fell back to $1.0928. The ... Read More »

France’s CMA CGM opens Tehran office


TEHRAN: France’s CMA CGM, the world’s third largest container shipping group, has launched a Tehran office. “CMA CGM Group has appointed CMA CGM Pars as its new agency in Iran as of May 1, 2017,” reads a statement published Thursday on the company’s website. The shipping firm resumed its Iran services in August 2015, when its vessel called at Shahid ... Read More »

Declining cargo revenue Q1 story for IAG and AF-KLM


PARIS: Declining cargo revenue was the story for flag-carriers on both sides of the Channel, as Air France-KLM and IAG released first-quarter results for 2017. AF-KLM’s cargo revenue fell 5.4%, year-on-year to €504m ($550m). At IAG, the decline over the three-month period was smaller, albeit from a lower starting point, dropping 2.3% to €256m. Attempting to tackle dwindling volumes, the ... Read More »

France stocks higher at close of trade; CAC 40 up 1.35%


PARIS: France stocks were higher after the close on Thursday, as gains in the Utilities, Healthcare and Technology sectors led shares higher. At the close in Paris, the CAC 40 gained 1.35% to hit a new 5-year high, while the SBF 120 index climbed 1.32%. The best performers of the session on the CAC 40 were Veolia Environnement VE SA ... Read More »

French manufacturing activity hits six-year high in April


PARIS: French manufacturing activity rose to a six-year high in April as new orders improved further even though firms raised prices to pass on higher raw material costs, a survey showed on Tuesday. Data compiler IHS Markit said its final purchasing managers’ index rose to 55.1 in April from 53.3 in March, reaching the highest level since April 2011. That ... Read More »

Ryanair seeking French tax refund


PARIS: Ireland-based budget airline Ryanair is pursuing a EUR15m (USD16.3m) tax refund from the French authorities following a European Court of Justice (ECJ) ruling relating to social security payments for international transport workers. Delivered on April 27, the ECJ’s ruling in the “A-Rosa” case (Case C-620/15, A-Rosa Flussschiff GmbH v Union de recouvrement des cotisations de sécurité sociale et d’allocations ... Read More »

France: weak GDP growth ahead of final election round

Raising Weak Economy
weak GDP

PARIS: With the final round of the French presidential election looming, Friday’s focus was on the country’s economy which continued its anaemic growth in the first three months of the year. We learned it expanded by just 0.3 percent, slightly weaker than expected, and down from the previous quarter’s 0.5 percent. Exports dropped (-0.7 percent) while imports rose (1.5 percent) ... Read More »

French GDP growth is disappointed: INSEE


PARIS: French GDP data have disappointed, with slower than expected growth of 0.3% in the first three months of this year, according to official stats from INSEE Friday morning. That missed the 0.4% figure that economists had predicted, and follows the 0.5% rise in the Q4 of 2016. GDP grew 0.8% year-on-year, the slowest figure since the Q4 of 2014. ... Read More »

French Renault revenue lifts by new models


PARIS: Renault’s revenue surged by a quarter in the first three months of 2017, the French car maker said on Thursday, as new models boosted deliveries and pricing, while production increased for industrial partners including Nissan. Quarterly revenue rose to 13.13 billion euros ($14.27 billion) from 10.49 billion a year earlier, also lifted by the consolidation of Russian Lada sales. ... Read More »

France, Kazakhstan business council meets in Astana

France, Kazakhstan

ASTANA: A meeting of the Kazakh-French Business Council was held in Astana on April 26. Established in 2008, the Kazakh-French Business Council is a platform for dialogue between Kazakh and French business, the Atameken National Chamber of Entrepreneurs of Kazakhstan reported. “From 2005 to 2015, France’s investments in Kazakhstan amounted to about 11.4 billion dollars. In our country, 128 enterprises ... Read More »