Latest news with #EricLombard
Times of Oman
10 hours ago
- Business
- Times of Oman
"Deepening India-France economic ties": Piyush Goyal meets French minister Eric Lombard
Paris: Union Minister of Commerce and Industry Piyush Goyal held a productive meeting with French Minister of Economy, Finance, and Industrial and Digital Sovereignty, Eric Lombard, on Monday (local time), focusing on deepening the India-France economic partnership with an emphasis on trade, investments, and technology cooperation. The discussions, which took place during Goyal's three-day official visit to France, also reviewed the progress of the India-EU Free Trade Agreement (FTA) negotiations, signalling a strong intent to bolster bilateral ties amidst a shared commitment to innovation and economic growth. "Held a productive meeting with Eric Lombard, French Minister of Economy, Finance, and Industrial and Digital Sovereignty. Exchanged views on deepening our economic partnership, enhancing trade & investments with a special focus on technology and innovation across key sectors. Also discussed the progress of the India-EU FTA negotiations. Looking forward to stronger India-France economic ties," Goyal said in a post on X. Earlier, the Commerce and Industry Minister expressed optimism that India could finalise its Free Trade Agreement (FTA) with the European Union (EU) ahead of the year-end deadline, citing minimal divergences between the two economic blocs. Goyal emphasised the complementary nature of the Indian and European economies. "There are not too many issues where we have divergence of opinion. We have both complementary economies," he stated. "In most cases, what is of offensive interest to India does not hurt the European economy. And likewise, goods and services that Europe would like to provide to India only support our growth story." The minister acknowledged that certain sensitive areas require careful negotiation on both sides. "Obviously, in any trading relationship, there are certain sensitive issues on both sides which we have to resolve amicably in the interest of both the European Union and India," Goyal noted. Goyal also held a series of high-level meetings in Paris with top French CEOs to explore new opportunities for India's growth across key sectors such as renewable energy, automobile manufacturing, electric vehicles (EVs), and consumer products. As part of his engagements, Goyal met Bernard Fontana, Chairman and CEO of EDF Energy, to discuss India's growing role in the global clean energy transition. He also met Luca de Meo, CEO of Renault Group, Nicolas Hieronimus, CEO of L'Oreal Groupe and Patrick Pouyanne, Chairman and CEO of Total Energies.
Free Malaysia Today
a day ago
- Business
- Free Malaysia Today
French state offers to buy Atos nuclear tech
Atos has sought to sell assets as part of a restructuring plan to reduce its debt load. (RFI pic) PARIS : The French state has made a €410-million (US$468 million) offer to acquire a strategic division of tech firm Atos that includes supercomputers used in nuclear deterrence, the company said today. Atos, an Olympics partner which also has contracts with the French military, has sought to sell assets as part of a restructuring plan to reduce its debt load. The company said it received an offer from the state for its advanced computing business. The offer 'is a major step toward securing the strategic supercomputing activity,' finance minister Eric Lombard said in a separate statement. 'It is the state's responsibility, when warranted, to ensure the continuity and development of the country's most strategic industrial capabilities,' he said. The scope of the government's offer has changed since the two sides entered exclusive talks in November. It no longer includes Atos' artificial intelligence (AI)–powered video analytics business, Vision AI. 'I hope to conclude this acquisition process as swiftly as possible to secure the future of these critical activities for France,' Lombard said. The advanced computing division, which employs more than 2,500 people mostly in France, develops high-performance servers and supercomputers with critical defence and industrial applications. Atos expects the unit to generate nearly €800 million in revenue in 2025. A binding agreement is expected in the coming weeks, with the deal closing in 2026.
Yahoo
4 days ago
- Business
- Yahoo
France says talks with China failed to solve cognac dispute
PARIS (Reuters) -Talks between China and France on Thursday failed to end a dispute between the two countries over cognac tariffs, French Finance Minister Eric Lombard said, although he added the door was open for further discussions. After trade tensions flared between Beijing and Brussels, China began an anti-dumping investigation into European Union brandy in January. It was extended in April, giving EU exporters more time to find a way to avoid Chinese penalties. "At this stage, the economic dialogue has not led to a definitive solution to this dispute," Lombard told journalists after wide-ranging talks with visiting Chinese Vice Premier He Lifeng at the finance ministry in Paris. "I know, having discussed it at length with His Excellency, that the door to discussion remains open," he added. In France, the Chinese anti-dumping probe is regarded as retaliation for Paris' support for EU tariffs on imports of Chinese electric vehicles. "The investigating authorities will make a decision on the basis of investigation in accordance with laws and regulations and on the basis of the facts," He said. Chinese official news agency Xinhua's readout of the meeting focused on He speaking about China's readiness to "enrich bilateral economic and financial cooperation" and create a good trade and investment environment with France. Cognac lobby, the National Interprofessional Bureau of Cognac, said in a statement the absence of an agreement could have "catastrophic effects" on its industry and region, saying that every day that passed without a resolution was painful. "We expect full mobilisation of our government to avoid the definitive imposition of these tariffs on July 5," it said. Separately, the French agriculture ministry said the two countries had signed two protocols to formalise an agreement to allow unaffected regions to continue poultry exports in the event of a bird flu outbreak in France, and to provide access for French poultry to the Chinese market. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
4 days ago
- Business
- Business Times
EMA grants conditional licence to RGE, TotalEnergies' Indonesian solar project for electricity import to Singapore
[SINGAPORE] The Energy Market Authority (EMA) on Friday (May 30) granted a conditional licence to Singa Renewables, a joint venture between RGE and TotalEnergies, to import 1 gigawatt (GW) of low-carbon electricity from Indonesia to Singapore. EMA chief executive Puah Kok Keong presented the licence to the joint venture. Eric Lombard, France's minister of the economy, finance and industry, attended the presentation. This was in conjunction with France President Emmanuel Macron's state visit to Singapore. Dr Tan See Leng, minister-in-charge of energy and science and technology, was also present. Imelda Tanoto, managing director at RGE, said the conditional licence was a key milestone, affirming its role in advancing the region's decarbonisation goals. This is the sixth electricity import project to be awarded a conditional licence, after EMA in September 2024 raised the low-carbon electricity import target to around 6 GW by 2035, up from the initial target of 4 GW announced in 2021. This is a part of Singapore's strategy to decarbonise the power sector. When the obligations in the conditional licences are fulfilled – which includes securing all necessary financing – EMA may subsequently issue the companies an electricity importer licence to commence construction and commercial operations. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up Singa Renewables, which aims to achieve commercial operations from 2029 onwards, received conditional approval from EMA in September 2024. Faith Gan, director of energy connections office at EMA, told The Business Times that the government would be open to more electricity imports beyond 6 GW as Singapore's energy demand grows beyond 2035. 'To date, EMA has granted 3 GW of conditional licences for electricity imports from Indonesia, as well as 4.35 GW of conditional approvals for electricity imports comprising 0.4 GW from Indonesia, 1 GW from Cambodia, 1.2 GW from Vietnam and 1.75 GW from Australia,' she added, highlighting different operational timelines for the projects. Gan noted that not all projects awarded conditional approvals or conditional licences will be implemented, as the importers make business decisions on whether to proceed with their plans, after more detailed analysis. EMA's Puah said: 'This (conditional) licence marks another step forward in our efforts to transform the power sector and deepen regional energy cooperation.' While electricity import projects help diversify Singapore's energy supply and reduce carbon emissions, they also bring in investment, create jobs and contribute to the growth of the clean energy sector in partner countries such as Indonesia, he added. Singapore-headquartered RGE and France's TotalEnergies on Wednesday also signed a co-investment agreement for a solar photovoltaic plant with integrated battery energy storage under Singa Renewables.
Free Malaysia Today
23-05-2025
- Business
- Free Malaysia Today
IMF urges sustained French budget squeeze to rein in deficit
The International Monetary Fund said France needed a 'credible and well-designed package of measures'. (EPA Images pic) PARIS : France needs to make a new and sustained push to rein in its budget deficit and get its rising debt under control, the International Monetary Fund said on Thursday in an annual review of the French economy. The French government is struggling to get its public finances back under control after spending spiralled higher last year and tax income fell short of expectations as a snap legislative election delivered a deeply divided parliament. The IMF said it expected the government to meet its 2025 public sector budget deficit target of 5.4% of economic output but warned without additional measures the shortfall would remain around 6% in the medium term and debt would keep rising. It said France needed a 'credible and well-designed package of measures' focused on rationalising spending while also better targeting welfare benefits on those who need them most. The IMF added that France would need a budget squeeze equivalent to 1.1% of GDP in 2026, followed by an average of about 0.9% of GDP per year over the medium term, which it said was broadly in line with the current government's plans. 'Getting our public spending under control is key for our future. It's our priority and our compass for building the 2026 budget,' finance minister Eric Lombard said in a statement to Reuters. Centrist Prime Minister Francois Bayrou's minority government is trying to come up with €40 billion (US$45 billion) in budget savings to cut its fiscal deficit to 4.6% of economic output next year, but many of the measures floated so have found little political support. Without a majority in parliament, Bayrou's government depends on the goodwill of Socialist lawmakers to pass budget legislation – and survive any no-confidence motions lodged by rivals on the far left and hard right. The IMF forecast that the euro zone's second-biggest economy would grow 0.6% this year and 1.0% in 2026, slightly less optimistic that the government's estimates for 0.7% this year and 1.2% in 2026.
