France

Policy & Legal Updates

Ras Al Khaimah Grants Mantle8 Exclusive Rights for Natural Hydrogen Exploration

French natural hydrogen explorer Mantle8 has secured exclusive negotiation rights for an exploration contract covering Block 7 in Ras Al Khaimah. Under an agreement with the Ras Al Khaimah Department of Energy, the company is conducting the emirate's first dedicated geophysical survey for natural hydrogen. The self-funded, non-invasive programme is expected to run up to 24 months before any exploratory drilling agreement is negotiated.

Industry News

Hermes Sales Hit by Chinese Spending Curbs and Dubai Retail Disruptions

Hermes International reported flat constant-currency revenue in its region that includes China for the third quarter, trailing analyst expectations of 1.6% growth. The performance was weighed down by Chinese consumer spending cutbacks and regional conflict disrupting shopping destinations such as Dubai. Following the announcement, Hermes shares fell up to 9% in Paris, extending year-to-date declines to 41%.

China–UAE News

Hermès Q3 Sales Slow as China Weakness and Middle East Disruption Hit Demand

Hermès International SCA reported slowing third-quarter sales as revenue flatlined in its key market region including China, missing analyst expectations. The luxury sector's anticipated recovery has been hampered by domestic headwinds in China alongside conflict in the Middle East that disrupted shopping hubs such as Dubai. Hermès shares fell as much as 9% in Paris, marking a 41% decline year-to-date.

China–UAE News

Mistral Unveils AI Model in Abu Dhabi Benchmarking Against Chinese Competitors

French artificial intelligence startup Mistral unveiled its new model, Mistral Large 4, at an event in Abu Dhabi on October 6, 2026. Mistral CEO Arthur Mensch stated the open-weight system surpasses Chinese competitors in specific areas, including cybersecurity. The announcement follows Mistral's move in August 2026 to offer Beijing-based Z.ai's GLM 5.3 model to its customers.