Senior French and Gulf officials rounded up a two-day business forum in Paris on Wednesday with the joint ambition of strengthening ties in advanced technologies and artificial intelligence in a competitive business environment.
French-GCC trade relations recently increased but that is mainly due to a rise in energy prices, and French exports to the region remain limited to sectors such as aviation and cosmetics, according to the economy ministry.
“We can do more and better,” Axel Baroux, Middle East managing director of Business France, a branch of the ministry that promotes French business abroad, told The National.
“The reality is that the area is really competitive. The entire world wants to do business and exchange with GCC countries. So, we have to be present and that is why we organise such events,” he said, referring to the second Vision Golfe forum.
Close to 1,000 business representatives from France and six Gulf countries gathered for business meetings at the economy ministry's headquarters in Bercy, as senior officials from several countries gave speeches encouraging them to strike deals.
French delicacies, including sweet and savoury macaroons, halal meat pies – “pate en croute” in French – were on offer from companies seeking to further expand their presence in Gulf markets.
“Gulf countries like Saudi Arabia are highly attractive,” said Mustapha Bahman, owner of France Originelle, which represents several French companies that export to the Gulf. “Made in France is a sure value.”
Speaking to The National, Oman's Energy Minister Salim Al Aufi said it was important to send the message that his country was “not only focusing on the US, the Far East or Germany”.
“They are all important,” he said. “But I think the relationship we built with the French companies … is also important for us in order to address the energy transition of the Gulf world.”
The forum kicked off with a pre-recorded keynote address by Economy Minister Bruno Le Maire.
“Gulf countries have taken a major turning point in emancipating themselves from the energy and gas sector and nurture high added-value sectors for the future,” he said.
“France is therefore ready to share its expertise in infrastructure, industry, tourism, health or even advanced technologies,” added Mr Le Maire.
“I am thinking in particular of artificial intelligence, which is an exceptional field of co-operation between France and the Gulf states.”
French direct investments in the Gulf reached €8.7 billion (about $9.47 billion) in 2021, a figure which is slightly above Gulf investments in France (€8.3 billion).
Mr Le Maire was last month in Kuwait and the UAE, where he signed am agreement to collaborate in developing AI.
He boasted that his country was the “most attractive country in Europe” with the ambition to become the “first low-carbon economy” of the continent by 2040.
The Economy Minister, who did not explain his absence from the forum, has been busy with the fallout from the recent downgrading of France's credit score by ratings agency Standard and Poor's.
The US agency justified its decision to drop France's long-term sovereign debt rating from “AA” to “AA-” on concerns over lower-than-expected growth.
Mr Le Maire vowed to “continue exactly on the same path, without accelerating or slowing”, in a video posted on YouTube on Saturday.
Also speaking at Vision Golfe, chairman of the French Agency for AlUla Development and former defence minister Jean-Yves Le Drian alluded to the Gulf countries' role in working towards an end of the conflict in Gaza.
“In the context we know in the Middle East, Gulf countries occupy a determining place for the future and the stability of the region,” he said. “France has always been stood alongside its Gulf allies to ensure stability and economic prosperity.”
Two memorandums of understanding were signed during the forum: the first between the city of Marseille and the Saudi port authority, as part of a new economic corridor to join India to Europe via the Middle East, and the second to support companies based in Bahrain to access French markets.
For Gulf countries, there is also competition to attract investors from abroad, and a transparent legal framework is a key part of that process, said Khalifah Al Yaqout, managing partner at the Kuwait-based Al Yaqout and Al Fouzan corporate law firm.
“Kuwait wants to change the image that we only have oil and gas,” Mr Al Yaqout said.
“But still our laws are old and date back to 1960 … I think it's time to follow Saudi Arabia, the Emirates and Qatar to have our own arbitration law.
“This will protect investors to have more trust in investing in Kuwait. The government knows that, and they are working on it,” he said, to applause in the room.
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."
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
Apple%20Mac%20through%20the%20years
%3Cp%3E1984%20-%20Apple%20unveiled%20the%20Macintosh%20on%20January%2024%3Cbr%3E1985%20-%20Steve%20Jobs%20departed%20from%20Apple%20and%20established%20NeXT%3Cbr%3E1986%20-%20Apple%20introduced%20the%20Macintosh%20Plus%2C%20featuring%20enhanced%20memory%3Cbr%3E1987%20-%20Apple%20launched%20the%20Macintosh%20II%2C%20equipped%20with%20colour%20capabilities%3Cbr%3E1989%20-%20The%20widely%20acclaimed%20Macintosh%20SE%2F30%20made%20its%20debut%3Cbr%3E1994%20-%20Apple%20presented%20the%20Power%20Macintosh%3Cbr%3E1996%20-%20The%20Macintosh%20System%20Software%20OS%20underwent%20a%20rebranding%20as%20Mac%20OS%3Cbr%3E2001%20-%20Apple%20introduced%20Mac%20OS%20X%2C%20marrying%20Unix%20stability%20with%20a%20user-friendly%20interface%3Cbr%3E2006%20-%20Apple%20adopted%20Intel%20processors%20in%20MacBook%20Pro%20laptops%3Cbr%3E2008%20-%20Apple%20introduced%20the%20MacBook%20Air%2C%20a%20lightweight%20laptop%3Cbr%3E2012%20-%20Apple%20launched%20the%20MacBook%20Pro%20with%20a%20retina%20display%3Cbr%3E2016%20-%20The%20Mac%20operating%20system%20underwent%20rebranding%20as%20macOS%3Cbr%3E2020%20-%20Apple%20introduced%20the%20M1%20chip%20for%20Macs%2C%20combining%20high%20performance%20and%20energy%20efficiency%3Cbr%3E2022%20-%20The%20M2%20chip%20was%20announced%3Cbr%3E2023%20-The%20M3%20line-up%20of%20chip%20was%20announced%20to%20improve%20performance%20and%20add%20new%20capabilities%20for%20Mac.%3C%2Fp%3E%0A
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
KILLING OF QASSEM SULEIMANI
UAE currency: the story behind the money in your pockets
England squads for Test and T20 series against New Zealand
Test squad: Joe Root (capt), Jofra Archer, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Jack Leach, Saqib Mahmood, Matthew Parkinson, Ollie Pope, Dominic Sibley, Ben Stokes, Chris Woakes
T20 squad: Eoin Morgan (capt), Jonny Bairstow, Tom Banton, Sam Billings, Pat Brown, Sam Curran, Tom Curran, Joe Denly, Lewis Gregory, Chris Jordan, Saqib Mahmood, Dawid Malan, Matt Parkinson, Adil Rashid, James Vince
SCHEDULE
Thursday, December 6
08.00-15.00 Technical scrutineering
15.00-17.00 Extra free practice
Friday, December 7
09.10-09.30 F4 free practice
09.40-10.00 F4 time trials
10.15-11.15 F1 free practice
14.00 F4 race 1
15.30 BRM F1 qualifying
Saturday, December 8
09.10-09.30 F4 free practice
09.40-10.00 F4 time trials
10.15-11.15 F1 free practice
14.00 F4 race 2
15.30 Grand Prix of Abu Dhabi
Simran
Director Hansal Mehta
Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey
Three stars
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Read more about the coronavirus
Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Players Selected for La Liga Trials
U18 Age Group
Name: Ahmed Salam (Malaga)
Position: Right Wing
Nationality: Jordanian
Name: Yahia Iraqi (Malaga)
Position: Left Wing
Nationality: Morocco
Name: Mohammed Bouherrafa (Almeria)
Position: Centre-Midfield
Nationality: French
Name: Mohammed Rajeh (Cadiz)
Position: Striker
Nationality: Jordanian
U16 Age Group
Name: Mehdi Elkhamlichi (Malaga)
Position: Lead Striker
Nationality: Morocco
HUNGARIAN GRAND PRIX RESULT
1. Sebastian Vettel, Ferrari 1:39:46.713
2. Kimi Raikkonen, Ferrari 00:00.908
3. Valtteri Bottas, Mercedes-GP 00:12.462
4. Lewis Hamilton, Mercedes-GP 00:12.885
5. Max Verstappen, Red Bull Racing 00:13.276
6. Fernando Alonso, McLaren 01:11.223
7. Carlos Sainz Jr, Toro Rosso 1 lap
8. Sergio Perez, Force India 1 lap
9. Esteban Ocon, Force India 1 lap
10. Stoffel Vandoorne, McLaren 1 lap
11. Daniil Kvyat, Toro Rosso 1 lap
12. Jolyon Palmer, Renault 1 lap
13. Kevin Magnussen, Haas 1 lap
14. Lance Stroll, Williams 1 lap
15. Pascal Wehrlein, Sauber 2 laps
16. Marcus Ericsson, Sauber 2 laps
17r. Nico Huelkenberg, Renault 3 laps
r. Paul Di Resta, Williams 10 laps
r. Romain Grosjean, Haas 50 laps
r. Daniel Ricciardo, Red Bull Racing 70 laps
The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
More on Quran memorisation:
More on Quran memorisation:
