France is looking to improve upon the €13 billion ($14 billion) investment commitments it received last year as global corporate leaders and institutional investors, as well as some of the top sovereign wealth funds from the Middle East, arrive in Paris next week.
The Choose France Summit, the brainchild of President Emmanuel Macron, to woo foreign direct investment to the second-largest EU economy will be held on May 13 at the sprawling Château de Versailles in the French capital.
In its seventh attrition, the summit is France’s global showcase of its economic attractiveness and is hosted each year by the French government.
It is an opportunity for the multinational conglomerates, as well as state and quasi-government investment funds, to hold direct discussions with the government and political leadership in France and explore investment opportunities.
“The idea is to have one specific day when you can gather all the global investors and present to them … why they need to invest in our country,” a senior French government official said at a briefing to media ahead of the event.
With a total of 28 announcements worth about €13 billion in investments and accounting for more than 8,000 jobs, the sixth edition of Choose France cemented France’s place among top European FDI destinations.
The Inaugural summit in 2018 received €2.1 billion in FDI pledges for 10 projects and even during Covid in 2020, the country received €607 million in FDI commitments.
The scale has risen steadily since to almost €10.8 billion in 2022, reflecting the country’s green re-industrialisation efforts aimed at the production of equipment in the renewable and low-carbon energy sectors – wind, solar, nuclear and batteries – as well as electric vehicles components, according to government data.
On Monday, Mr Macron, a former Rothschild investment banker, will also hold a series of private investment round-table meetings with chief executives of private sector companies, officials said.
“One private session [will be] regarding the artificial intelligence and quantum investment opportunities in France … [with] some French unicorns also being present to showcase the ecosystem that we have created in France,” the officials added.
“Then there will be another private session of the French president with 10 to 12 international CEOs in terms of decarbonisation.”
The President will also hold a private session with top executives from Indian companies, as he looks to woo FDI from Asia’s third-largest economy, building on the trips he took to India and Indian Prime Minister Narendra Modi's visit to Paris last July.
So far, 180 chief executives from all over the world have confirmed attendance, less than half of which are from the EU zone, about 20 per cent each from North Americas and Asia, while the rest accounting for other geographies.
Heads of private sector companies, as well as sovereign wealth funds from the broader Middle East, especially the six-member economic bloc of the GCC, will also have a strong showing at the Château de Versailles on Monday.
Chief executives of the Public Investment Fund, Saudi Arabia’s sovereign wealth fund, Qatar Investment Authority, Kuwait Investment Authority, Bahrain’s Mumtalakat, representatives of Mubadala Investment Company in Abu Dhabi as well as Bahrain-based alternative investment company Investcorp are among those attending the summit next week, according to the French officials.
They will also attend some of the private sessions, including two with Mr Macron on AI and quantum investing to explore opportunities in that “specific vertical, as well as in the green energy sector".
“We will be happy to welcome more investments from them,” the officials said.
France is focused on re-industrialising the country, with major investments in the battery, hydrogen green manufacturing, as well as artificial intelligence, which a central plank of the country’s innovation policy and a “line that has been consistent and preserved for all investors," the officials said.
The country, which is trying to lower its debts and boost growth momentum is pursuing the France 2030 Investment Plan, an overarching agenda that aims to attract €54 billion in FDI by the end of this decade to build “the France of tomorrow”.
The twofold programme is focused on sustainable transformation of key sectors, including energy, automotive, aeronautics and space, as well as supporting the entire life cycle of innovation from the idea stage right up to industrialisation at scale.
France has deep trade, economic and political ties with Arab nations in the broader Middle East and North Africa region, especially with oil-exporting countries in the GCC.
Bilateral trade between the UAE and France reached €7 billion last year and is expected to increase further this year amid the deepening of investment and trade ties between the two countries, France’s Minister of Foreign Trade and Economic Attractiveness Franck Riester told The National in February.
The European economy is seeking partnership with UAE investors in sectors, including renewable energy, mobility, health, technology and artificial intelligence, he said on the sidelines of the World Trade Organisation’s 13th ministerial conference in Abu Dhabi.
The economic ties between the two nations have deepened in recent years following President Macron’s visit to the UAE in May 2022 and President Sheikh Mohamed’s visit to Paris the following July of that year.
The two leaders also oversaw the launch of the UAE-France Business Council in 2022, which is jointly led by Dr Al Sultan Al Jaber, managing director and group chief executive of Adnoc and chairman of Masdar, and Patrick Pouyanne, chairman and chief executive of France’s TotalEnergies.
The council is made up of 18 chief executives selected for their interest in strengthening investments between the two countries and held its second meeting earlier this year in Paris.
Emirati companies have already signed significant investment and co-operation agreements with their French counterparts.
Adnoc and TotalEnergies in 2022 signed a strategic agreement to explore investment opportunities across the energy value chain and collaborate in gas growth, carbon capture utilisation and storage, and trading and product supply.
Mubadala Capital, the asset management subsidiary of Mubadala, has also signed a $2.1 billion private equity partnership with French private investment house Ardian.
Mubadala in 2021 also signed an agreement with French public investment bank Bpifrance to expand their partnerships by an additional €4 billion, to be invested over a 10-year period.
An agreement between Mubadala and the French Ministry of the Economy also allows the Abu Dhabi government to potentially invest €1.4 billion in funds based in France or with significant exposure to the French economy.
Beyond the UAE, Paris has also managed to secure investment commitments from other GCC countries including Qatar and Saudi Arabia.
In February, Qatar announced more than $10 billion in investments in French start-ups and investment funds.
“Our choices are made exclusively on economic bases and the benefits that will be made for the benefit of our two countries and our two peoples,” Qatar's Emir Sheikh Tamim said during his state visit to France in February this year.
QatarEnergy and TotalEnergies also signed a 27-year LNG supply agreement in October, Qatar's largest and longest European gas deal. Deliveries are expected to start in 2026.
Last year Saudi Arabia and France also signed 24 agreements worth $2.9 billion at the France-Saudi Investment Forum in sectors including clean energy, manufacturing, aviation, energy, and healthcare, the state-owned Saudi Press Agency said at the time.
The French officials said the message from the president will be loud and clear to the global investment community at a time when FDI flows have somewhat waned for the broader Europe but has strengthened for France.
“We have made the reforms, we have lowered taxes … we have a pure green energy strategy investing in nuclear and renewables and we are an attractive country for investments, the official said.
“We will continue the reforms, the reforms to develop in innovation, the reforms to carry on [with] innovation and growth in France.”
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Best Foreign Language Film nominees
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Results
5pm: Reem Island – Conditions (PA) Dh80,000 (Turf) 1,600m; Winner: Farasah, Antonio Fresu (jockey), Musabah Al Muhairi
5.30pm: Sir Baniyas Island – Maiden (PA) Dh80,000 (T) 1,400m; Winner: SSR Ghazwan, Antonio Fresu, Ibrahim Al Hadhrami
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: Astral Del Sol, Sean Kirrane, Ibrahim Al Hadhrami
6.30pm: Al Maryah Island – Maiden (PA) Dh80,000 (T) 2,200m; Winner: Toumadher, Dane O’Neill, Jaber Bittar
7pm: Yas Island – Handicap (PA) Dh80,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
7.30pm: Saadiyat Island – Handicap (TB) Dh80,000 (T) 2,400m; Winner: Celestial Spheres, Gary Sanchez, Ismail Mohammed
Killing of Qassem Suleimani
Killing of Qassem Suleimani
COMPANY%20PROFILE
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
'Nope'
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Mohammed bin Zayed Majlis
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
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In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
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Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
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The major Hashd factions linked to Iran:
Badr Organisation: Seen as the most militarily capable faction in the Hashd. Iraqi Shiite exiles opposed to Saddam Hussein set up the group in Tehran in the early 1980s as the Badr Corps under the supervision of the Iran Revolutionary Guards Corps (IRGC). The militia exalts Iran’s Supreme Leader Ali Khamenei but intermittently cooperated with the US military.
Saraya Al Salam (Peace Brigade): Comprised of former members of the officially defunct Mahdi Army, a militia that was commanded by Iraqi cleric Moqtada Al Sadr and fought US and Iraqi government and other forces between 2004 and 2008. As part of a political overhaul aimed as casting Mr Al Sadr as a more nationalist and less sectarian figure, the cleric formed Saraya Al Salam in 2014. The group’s relations with Iran has been volatile.
Kataeb Hezbollah: The group, which is fighting on behalf of the Bashar Al Assad government in Syria, traces its origins to attacks on US forces in Iraq in 2004 and adopts a tough stance against Washington, calling the United States “the enemy of humanity”.
Asaeb Ahl Al Haq: An offshoot of the Mahdi Army active in Syria. Asaeb Ahl Al Haq’s leader Qais al Khazali was a student of Mr Al Moqtada’s late father Mohammed Sadeq Al Sadr, a prominent Shiite cleric who was killed during Saddam Hussein’s rule.
Harakat Hezbollah Al Nujaba: Formed in 2013 to fight alongside Mr Al Assad’s loyalists in Syria before joining the Hashd. The group is seen as among the most ideological and sectarian-driven Hashd militias in Syria and is the major recruiter of foreign fighters to Syria.
Saraya Al Khorasani: The ICRG formed Saraya Al Khorasani in the mid-1990s and the group is seen as the most ideologically attached to Iran among Tehran’s satellites in Iraq.
(Source: The Wilson Centre, the International Centre for the Study of Radicalisation)
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Is it worth it? We put cheesecake frap to the test.
The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?
My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.
The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.
So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.
ICC Intercontinental Cup
UAE squad Rohan Mustafa (captain), Chirag Suri, Shaiman Anwar, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Saqlain Haider, Ahmed Raza, Mohammed Naveed, Imran Haider, Qadeer Ahmed, Mohammed Boota, Amir Hayat, Ashfaq Ahmed
Fixtures Nov 29-Dec 2
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Ireland v Scotland, Dubai International Stadium
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Killing of Qassem Suleimani
Score
Third Test, Day 2
New Zealand 274
Pakistan 139-3 (61 ov)
Pakistan trail by 135 runs with 7 wickets remaining in the innings
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Race card
5pm: Handicap (PA) Dh80,000 (Turf) 1,600m; 5.30pm: Maiden (PA) Dh80,000 (T) 1,400m
6pm: Handicap (PA) Dh80,000 (T) 1,400m; 6.30pm: Handicap (PA) Dh80,000 (T) 1,200m
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m
7.30pm: Handicap (TB) Dh100,000 (PA) 1,400m
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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