French Economy and Finance Minister Bruno Le Maire delivers a speech during a high-level forum on debt at the Finance ministry in Paris, France. File photo/ Reuters
Group of Seven finance ministers meeting in France this week will make it one of their priorities to contain the risks posed by new currencies such as Facebook’s Libra, the meeting’s host, Finance Minister Bruno Le Maire, said.
Le Maire told Italian newspaper Corriere della Sera in an interview published on Wednesday that the G7 would be very vigilant on this issue, listing it as a priority alongside taxation, green finance and income equality and transparency.
“The red line for us is that Libra must not transform into a sovereign currency,” he said.
French consumer spending rose 2.3% in August, defying market expectations for a second straight month of falling expenditure, official data showed on Wednesday.
Production at French factories, mines and water-treatment plants jumped an unprecedented 19.6% in May, nearly erasing an equally unprecedented plunge of 20.6% the previous month, the INSEE stats agency said.
France is faring worse than Germany, Europe’s largest economy, which on Thursday reported a 10.1% plunge in GDP during the April-June period as its exports and business investment collapsed.
Airbus is stopping production and assembly activities at its plants in France and Spain for the next four days as governments there implement new measures to restrict movements and fight the coronavirus outbreak, the planemaker said on Tuesday.
A video clip of Egyptian couple riding e-scooters to their wedding venue has gone viral on social media. The video showed the couple, each riding a e-scooter, and behind them were the cars celebrating their marriage in Giza Governorate.
Of those hurt in the accident, 138 sustained minor injuries and a further 24 were still in hospital, the health ministry said. The blast blew out the windows of several houses in the surrounding area and damaged their interiors.
The initiative is inspired by the pioneering success of Dubai Police’s Smart Police Stations (SPS), which provide security and community services around the clock, without human intervention.
The meeting addressed cooperation between the UAE and the Comoros and opportunities to advance ties in the economic, trade, investment, and development fields to achieve the aspirations of the two countries and peoples.