Bollore Under Formal Investigation in Africa Graft Probe
A French judge on Wednesday placed tycoon Vincent Bollore under formal investigation over allegations his company undercharged for work on behalf of presidential candidates in two African nations in return for port contracts.Bollore's company, Groupe Bollore, announced the decision by Judge Serge Tournaire, which came after Bollore had been questioned for two days by French fraud police.Bollore, whose logistics empire is a powerhouse in former French colonies across West Africa…
North Natuna Sea: Striking at China Claims
Indonesia renamed the northern reaches of its exclusive economic zone in the South China Sea as the North Natuna Sea on Friday, the latest act of resistance by Southeast Asian nations to China's territorial ambitions in the maritime region. Seen by analysts as an assertion of Indonesian sovereignty, part of the renamed sea is claimed by China under its contentious maritime boundary, known as the 'nine-dash line', that encompasses most of the resource-rich sea. Several Southeast Asian states dispute China's territorial claims and are competing with China to exploit the South China Sea's abundant hydrocarbon and fishing resources. China has raised the ante by deploying military assets on artificial islands constructed on shoals and reefs in disputed parts of the sea.
Bollore First Half Boosted by Transport, Advertising Unit
French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas, even as it kept investing in electricity storage. Turnover fell 5.2 percent to 5.1 billion euros ($6.71 billion) , while core earnings before interest, tax, depreciation and amortisation (EBITDA) rose 7 percent to 469 million. (1 US dollar = 0.7604 euro) (Reporting by Geert De Clercq; Editing by Leila Abboud)
