PARIS: Violence that erupted last Saturday on the Champs-Elysees during protests against rising fuel has led to cancelations of bookings that cost Paris hotels at least €10 million ($11.4 million) in lost revenue, said research firm MKG.
For more than a week now, ‘yellow vest’ protesters have blocked roads across France and impeded access to some fuel depots, shopping centers and factories in protest against fuel tax hikes which they say have eroded their spending power.
The unrest reached new heights in Paris last Saturday, when police fired tear gas, water cannon and rubber bullets at thousands of protesters who trashed restaurants and shop-fronts and set wheelie bins ablaze on Paris’ upmarket Champs-Elysees boulevard, a tourist magnet.
Champs-Elysees protest cost Paris hotels €10m — research firm MKG
Champs-Elysees protest cost Paris hotels €10m — research firm MKG
- For more than a week now, ‘yellow vest’ protesters have blocked roads across France
India seals $3bn LNG agreement with UAE
- Leaders hold talks to strengthen trade, defense ties
NEW DELHI, DUBAI: India signed a $3 billion deal on Monday to buy liquefied natural gas from the UAE, making it the Gulf country’s top customer, as the leaders of both countries held talks to strengthen trade and defense ties.
The agreement was signed during a very brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al-Nahyan for talks with Indian Prime Minister Narendra Modi.
They pledged to double bilateral trade to $200 billion in six years and form a strategic defense partnership.
Abu Dhabi state firm ADNOC Gas will supply 0.5 million tonnes of LNG a year to India’s Hindustan Petroleum Corp. for 10 years, the companies said.
ADNOC Gas said the agreement brings the total value of its contracts with India to over $20 billion.
“India is now the UAE’s largest customer and a very important part of ADNOC Gas’ LNG strategy,” the company said.
The UAE is India’s third largest trading partner and Sheikh Mohammed was accompanied by a government delegation that included his defense and foreign ministers. The two sides signed a letter of intent to work toward forming a strategic defense partnership, India’s Foreign Secretary Vikram Misri told reporters.
Misri, however, said that the signing of the letter of intent with the UAE does not mean that India will get involved in regional conflicts.
“Our involvement on the defense and security front with a country from the region does not necessarily lead to the conclusion that we will get involved in particular ways in the conflicts of the region,” he said.
