une 20 (Bloomberg) -- France's economy will expand by 1.6 percent this year, the slowest pace in five years, as rising prices damp consumer spending and the housing market slumps, the government statistics office said.
Europe's third-biggest economy will grow 0.2 percent in the second quarter, the least in almost two years and a third of the pace in the first three months, Paris-based Insee said in a quarterly report. The economy will stagnate in the third quarter and grow 0.2 percent in the final three months, Insee said.
A 40 percent increase in oil prices this year is raising manufacturing costs at a time when the euro's gain makes French goods less competitive outside Europe. Record gasoline costs and soaring food prices are also leaving consumers with less to spend, meaning domestic demand won't be enough to offset a decline in exports.
Sunday, June 22, 2008
Wednesday, June 11, 2008
GE Real Estate, BNP Paribas eye $1.6 billion hotel fund
GE Real Estate Europe said on Thursday it had agreed to be a founding limited partner of the Capital France Hotel (CFH) fund, which is managed by co-investor Algonquin Asset Management France and targets hotel investments across the Eurozone, Scandinavia and Central and Eastern Europe.
The fund currently owns and manages a portfolio of nine three and four-star hotels operated under Rezidor brands Radisson and Park Inn. In addition, GE Real Estate has brought three French assets, operated by Accor and Marriott, into the Fund, in exchange for CFH shares and cash.
The fund currently owns and manages a portfolio of nine three and four-star hotels operated under Rezidor brands Radisson and Park Inn. In addition, GE Real Estate has brought three French assets, operated by Accor and Marriott, into the Fund, in exchange for CFH shares and cash.
Sunday, June 1, 2008
GE Real Estate Joins BNP Paribas to Grow $1.5B French Hotel Fund
GE Real Estate Europe has jumped aboard the Capital France Hotel fund, joining BNP Paribas Assurance as a founding limited partner.
The two companies intend to grow CFH's assets under management to $1.5 billion by the end of 2010 by investing in hotels across the Euro zone, Scandinavia and Central and Eastern Europe.
Capital France Hotel is managed by Algonquin Asset Management France. It currently owns and manages a portfolio of nine three- and four-start hotels in urban locations under Rezidor brands The fund plans to focus on mature markets, especially Germany, France and Space, but will also keep a vigilant eye on Eastern European countries. Radisson and Park Inn. Additionally, GE Real Estate has purchased three French assets, operated by Accor and Marriot, into the fund, in exchange for CFH shares and cash.
The two companies intend to grow CFH's assets under management to $1.5 billion by the end of 2010 by investing in hotels across the Euro zone, Scandinavia and Central and Eastern Europe.
Capital France Hotel is managed by Algonquin Asset Management France. It currently owns and manages a portfolio of nine three- and four-start hotels in urban locations under Rezidor brands The fund plans to focus on mature markets, especially Germany, France and Space, but will also keep a vigilant eye on Eastern European countries. Radisson and Park Inn. Additionally, GE Real Estate has purchased three French assets, operated by Accor and Marriot, into the fund, in exchange for CFH shares and cash.
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