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Mai 2008
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Dear members,
It seems that as the weather gets cooler things really start warming up at the Chamber! Our exciting new project of the FACCI Young Professionals was a full house success and our signature publication, the annual FACCI Members Directory is due to arrive at the end of June.
We are delighted to offer our members a number of free of charge events these coming months. Join us at the Frank Provost get together on the 20th of May to launch the world renknowned hairdressers's "Spicy Paris" collection and in June for the launch of Peugeot's the hot new 308CC. These will be great opportunies to meet other members of the French-Australian business community that won't leave you out of pocket!
The Gala Dinner in September will be memorable as we will celebrate the 110th anniversary of the Chamber. All these events are only a success thanks to the members’ involvement and thanks to our generous sponsors. On this note we have sent you a sponsorship kit and we will be in contact with you to discuss opportunities further.
It has been an exciting 5 months at the French Chamber and I am very much looking forward to our next events together.
All the best to you all,
Anne-Sophie Vincent
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France plans to simplify citizenship applications.
REZE - France plans to simplify citizenship applications by giving regional state offices a greater say in granting French nationality to foreigners, Immigration Minister Eric Besson said Monday.
Some 100,000 foreigners apply for French citizenship per year but the applications take years to be processed by local prefectures -- which represent the states in the regions -- and the immigration ministry.
As of January, a pilot project will be launched to allow the regional administrations in 20 of France's 101 departments to decide on citizenship cases, a measure that should cut down delays.
"Up until now, a foreigner eligible for French nationality had to wait for his dossier to be processed twice," said Besson, who travelled to the office for French nationality based in Reze in western France.
"Instead of having a double procedure, we will have only one at the prefecture level with the central government monitoring," said Besson.
If successful, the streamlined procedure will be extended to all of France as of July 1, 2010.
Union leaders complained however that the reform would deny foreigners equal treatment under the law as they would be subjected to local decisions.
"We are going to have 101 decision-making centers" for French nationality, said Marc Bonnefis from the CGT union.
"This is an absolute sham, a violation of the principle of equality," said historian Patrick Weil, an expert on citizenship issues.
Granting such powers to prefects, the governors of departments, will increase the risk of corruption or political favoritism, he said.
"That's why all major democratic countries have centralized naturalization procedures," Weil said.
Foreigners can apply for citizenship in France after at least five years of residency but they must show some ability to speak French and have a demonstrated interest in French culture.
Source: ABS - CBNEWS - 20/04//2009
France Passes 'Three Strikes' Piracy Law.
Defying Europe's Parliament, the French Assembly passed a controversial law cutting off Net access for thrice-convicted download pirates.
 In defiance of the European Parliament, the French lower house has approved a law that has widely been described as the most aggressive attempt to counter internet piracy yet.
The 'three-strikes' law that would cut off internet access to users found to be repeatedly downloading copyright content without the permission of the owner was passed by 296 votes to 233 in what is the government's second attempt to push through the bill.
The legislation, which creates a new government agency, the Hadopi ( the Haute Autorite pour la Diffusion des Oeuvres et la Protection des droits sur Internet, or High Authority for the Diffusion of Works and the Protection of Rights on the Internet), which first sends a web-surfer an email warning, then a letter through the post and, finally, as the third 'strike,' can interrupt his internet access for up to a year.
The bill, a flagship piece of legislation for President Nicholas Sarkozy, whose wife is a pop star, was defeated last month when deputies from the governing centre-right UMP failed to turn up to vote in sufficient numbers and the opposition Socialists managed to quash it.
However, in a move targetting the French three-strikes law, last week, the European Parliament approved an amendment to a major piece of telecommunications legislation specifically outlawing the ability of governments to cut off internet access without first receiving a court order.
The European bill including the amendment must still be endorsed by the Council of Ministers, representing the EU member states, when telecoms ministers meet on 12 June.
Such an endorsement is unlikely to be forthcoming, kicking passage of the entire package into the long grass, as further negotiations between the parliament and the Council will take months.
However, the author of the amendment, French Socialist MEP Guy Bono, said on Tuesday evening he intends to ask the European Commission, which has consistently backed the parliament's position, to launch legal action against Paris for "not respecting [European] community legistion."
"While the [three-strikes bill] was rejected last week by 88 percent of European deputies, the French National Assembly has bent itself to the will of the president by adopting the Creation and Internet law," he said.
"To flatter the ego of the prince," he added, in reference to the French president, "the majority intends to pass a text that it knows quite well to be contrary to community law."
"This shows utter contempt for Europe and its citizens three weeks ahead of the European elections."
Noting that the European bill still has to complete its full legislative procedure, Mr Bono said that the French move nevertheless flouts tradition.
"When two acts are discussed at the same time on both the national and [European] community level, it is good behavior to leave the community act being adopted as a primary.
"And so to avoid any legal uncertainty, in the event of a contradiction between the two laws, it is the European law that takes precedence and the national law that must be modified," he continued.
"If a French constitutional judge does not react, I will ask the European Commission to request the European Court of Justice launch infringement proceedings against the French government for not respecting community law."
Source: Business Week - 15/05//2009
Sarkozy invites Hu Jintao for State Visit.
BEIJING - French President Nicolas Sarkozy will invite his Chinese counterpart Hu Jintao to France, a top official here said Monday, three weeks after the two nations resolved a bitter row over the Dalai Lama.
An invitation letter was expected to be handed over during the ongoing visit of Bernard Accoyer, president of the National Assembly in Paris, China's parliamentary head Wu Bangguo told journalists.
"I believe Hu Jintao will be happy to visit France," Wu said without naming a date.
"The development of relations with France is a firm policy," said Wu, who also serves as the second most powerful man in China's ruling Communist Party.
Accoyer is the first high-ranking French official to visit Beijing since a bitter row erupted four months ago when Sarkozy angered Chinese leaders by meeting the Tibetan spiritual leader the Dalai Lama.
China views the Dalai Lama as a separatist trying to establish an independent Tibet, charges the spiritual leader denies. Beijing opposes all meetings between the Dalai Lama and leaders from other nations.
In a meeting between Sarkozy and Hu on the sidelines of the G20 meeting in London earlier this month, the two nations agreed to put the disagreement behind them and work for better relations.
Source: AFP - 20/04//2009
French unemployment to exceed 10 percent in 2010.
After industrial output dropped off in France in early 2009, the Paris-based French Economic Observatory (OFCE) forecast that the country's economy would shrink by 2.3 percent this year and that unemployment would top 10 percent in 2010.
French industrial orders fell 1.9 percent in February, a far slower rate of monthly decline than in January when they plunged 4.2 percent, the statistics agency INSEE reported on Monday.
Orders actually rose by 4.1 percent for the chemical industry but fell heavily in the metals sector by 9.5 percent and in the paper sector by 5.6 percent, the National Institute for Statistics and Economic Studies said.
The data adds to signs highlighted by the government and the Organisation for Economic Cooperation and Development that green shoots of economic rejuvenation may be struggling to push through the gloom of France's economy.
Industrial output in February fell 0.5 percent after a slump of 3.9 percent in January, official data showed on Friday.
The OECD has also said that there are "tentative" signs that the economic slowdown may be easing in France.
The French economic monitor OFCE meanwhile forecast on Monday that the country's economy would shrink by 2.3 percent in 2009, with the rate of downturn easing in 2010 to 0.2 percent -- harsher than government forecasts.
French unemployment would exceed 10 percent next year, OFCE said in a statement. The public deficit would rise to a hefty 6.1 percent of gross domestic profit (GDP) this year and 7.2 percent in 2010, it added.
Source: REUTERS - 20/04//2009 |
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Prime Minister Kevin Rudd flags stronger economic stimulus package.
A DAY after saying Australia would inevitably slip into recession, the Prime Minister has warned that unemployment will rise but said next month's budget would increase stimulus for the economy.
But Kevin Rudd's press conference ended minutes before he could be quizzed on Reserve Bank governor Glenn Stevens' declaration that Australia was now in recession.
Mr Rudd is in Western Australia hosting a jobs forum in the state, which has seen its powerhouse economy slow dramatically as the global financial crisis bites.
Mr Rudd said it was necessary to act locally, nationally and globally to reduce the impact of the global recession on Australia.
"The truth is this - the global economic recession makes it inevitable that we'll have a recession in Australia which means that, as we frame the budget, we're going to have to make even stronger our economic stimulus strategy because unemployment will rise even further,'' Mr Rudd said.
"As Prime Minister of Australia, I can't wish this global economic recession away.''
Mr Rudd said the Federal Government working with local communities could make a huge difference to the impact of the global recession on Australia.
"If we don't act together, then the impact of this recession will be greater than need be the case,'' Mr Rudd said.
Mr Rudd's press conference ended minutes before Mr Stevens' declaration.
Yesterday, Mr Rudd finally conceded the economy will be dragged into a recession for the first time since the early 1990s.
Previously, he and Treasurer Wayne Swan had avoided using the "R'' word.
Source: news.com.au - 20/04/2009
Banks lifting fixed rates on home loans
AUSTRALIA'S biggest banks are increasing interest rates across most of their fixed-rate home loans.
The rises mean more financial pain for customers wanting to switch from fixed to variable rate loans, and suggest the best deals for fixed-rate mortgages have passed. 
Commonwealth Bank will lift fixed rates by up to 0.45 percentage points from today, Westpac yesterday increased its fixed rates by up to 0.4 percentage points and National Australia Bank has also increased some fixed rates.
Only ANZ Banking Group has not moved in recent days, but its rates were the highest to begin with.
An ANZ spokeswoman said yesterday: "I don't think there's any intention to review them at the moment."
The banks blame the rises on wholesale rates, the main funding source for their loans, which have climbed sharply since early March as financial markets become more confident that the global recession will not turn into a depression.
It comes at a time when the major banks are under fire for refusing to pass this month's full 0.25 percentage point cut by the Reserve Bank on to variable rate home loans.
Banks have also benefited from Federal Government help in the form of a taxpayer-backed guarantee on deposits and the so-called "Rudd Bank" plan to prop up corporate lending.
While the fixed-rate rises do not affect those with existing fixed or variable loans, they increase the costs for people looking to switch to variable, with the break fees on this already running into tens of thousands of dollars.
Consumer group Choice said many people "got their fingers burnt" by taking out fixed-rate loans early last year, only to see variable rates drop by more than 4 per cent since September.
"Some people have really come to rue they ever got mixed up in fixed rates," Choice spokesman Christopher Zinn said.
"People, I hope, will appreciate that fixed rates are a very different kettle of fish, and might change for various reasons."
The chief executive of financial comparison website HelpMeChoose.com.au, Adir Shiffman, said interest in fixed rates had already dropped dramatically amid big falls in variable rates in recent months.
"Fixed rates are going to become more and more irrelevant," Dr Shiffman said.
He said there was no need for people to panic and lock in a fixed rate and added that a further fall in variable interest rates was "almost certain".
The Commonwealth Bank's one-year fixed rate will remain at 5.39 per cent, but rates for loans ranging from two to 15 years will rise between 0.2 and 0.45 percentage points.
"The Commonwealth Bank's rates on fixed interest home loans reflect the recent increases in wholesale market rates, where the bank funds fixed-term home loans from," CBA spokesman Steve Batten said yesterday.
"Many consumers are continuing to opt for a variable rate product," he said. "We continue to have the lowest variable rate of all major banks (at 5.64 per cent)."
Earlier this month the Australian Bureau of Statistics said the number of fixed-rate loans as a proportion of all new mortgages dropped to 2.7 per cent in February.
Source: The Advertiser - 20/04/2009
Australian companies are being forced to squeeze profit margins and absorb higher production costs to maintain market share in the downturn.
Inflation in Australia is starting to fall. The consumer price index rose just 0.1 per cent during the March quarter, taking the annualised rate to 2.5 per cent -- the first time in two years the headline rate has been inside the Reserve Bank's management bracket of 2-3 per cent.
However, there was a sharp rise in the underlying measure of inflation, which strips out volatile items as fuel and one-off price movements. It was 1.1 per cent for the quarter, making 4.2 per cent for the year -- well ahead of expectation of a 3.9 per cent result.
The inflation numbers prompted economists to adjust their forecasts that interest rates would be cut in May, when the Reserve Bank meets a week before the Government delivers its second budget in Canberra.
The interbank futures market believes the decision could be line-ball, pricing the prospect of a 25 basis point cut to the official cash rate at 51 per cent.
Ahead of the inflation number yesterday, the markets were more certain of a cut, rating it a 65 per cent prospect.
The divergence between the headline and underlying rates surprised analysts, who expected both inflation measures to fall as a result of economic conditions.
Citi chief economist Paul Brennan said the underlying rate showed that firms were being forced to absorb higher production costs, particularly those caused by the falling Australian dollar, rather than raising prices for consumers.
"As demand weakens, companies don't have the ability to pass through their costs," Mr Brennan said.
"The economic downturn is capping pricing power and as spare capacity continues to build, and falls in producer prices are passed through, then the fall in underlying inflation will gather more momentum quickly."
The Royal Bank of Scotland chief economist Kieran Davies said few firms had true pricing power in current market conditions, as some carried on discounting to retain market share.
"There is more evidence of a profit squeeze in the GDP numbers, but profit margins for most companies have been very favourable in recent years," he said. "But they are starting to be squeezed as the weakening economy continues.
"It makes sense that the only people in the economy at the moment with pricing power would be anyone connected with the government.
"I think the companies are going to continue to react to that. They are looking to cut costs themselves.
Source: The australian - 23/04/2009
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FACCI Young Professionnal
We are pleased to announce that the FACCI Young Professionals launch on "2009: Economic Trends and the Job Market" was a resounding success! A full house attended the seminar jointly presented by Dr David Cochrane, Partner at Ernst & Young and Corinne Bot, Managing Director of Polyglot Group. Experts in their industry, they took an in depth look into the current economic trends and the impact that they are likely to have on employment over the coming year. Afterwards everyone had the chance to mingle over a glass of wine and have some one-on-one time with David and Corinne that lasted well into the evening. The next FACCI YP event is coming soon – be sure to keep your eyes peeled!
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@ home Franck Provost - New Collection Launch
There is no charge for this event!
RSVP is essential by Thursday 14th May 2009
Please Fax (02) 9251 1031
Or email event-nsw@facci.com.au
If you want to register now, please click here
Date: Wednesday 20th May 2009
Time: 6pm for a start at 6.30pm
Place: Franck Provost
185 Macquarie Street
Sydney, NSW, 2000
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Workshop - International Assignments and Relocation, Australian Tax - Deloitte
The purpose of the presentation is to give a broad overview of the tax issues affecting international expatriates. Deloitte will explain the temporary resident regime. Then, Deloitte will provide a brief overview of the various Australian employer obligations affecting international expatriates. Finally, Deloitte will cover the Living Away from Home regime and how to structure the remuneration packages of international assignees tax effectively through salary sacrifice arrangements.
If you want to register now, please click here
Date: Thursday 4th June 2009
Time: 7.30am to 9am
Place: Deloitte
Grosvenor Place
Level 9, 225 George Street
Sydney, NSW, 2000 |
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@ home Peugeot - Launch new 308CC
There is no charge for this event!
For more information do not hesitate to contact us
at event-nsw@facci.com.au or 02 9251 1033
Date: Thursday 18th June 2009
Time: from 6.30pm to 8.30pm
Place: Sofitel Wentworth
61-101 Phillip Street
Sydney, NSW, 2000 |
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DB Schenker wins Asia Pacific Aerospace Logistics Company of the Year Award
Award follows recent achievement at the beginning of the year as the first 3PL in APAC to attain AS9120 Aerospace Standards.
(Singapore, 10 March 2009) At the Frost and Sullivan Asia Pacific Aerospace and Defence Awards held last week in Singapore, DB Schenker was awarded Asia Pacific Aerospace Logistics Company of the Year.
In picking the winners, Frost and Sullivan, a global research and consulting firm, researched more than 135 companies over a six-month period. The awards showcase best practices in the industry segments, and are carefully reviewed and evaluated to reflect the current market landscape. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
This Aerospace Logistics award follows DB Schenker’s achievement at the beginning of the year as the first 3rd Party Logistics Service Provider in Asia Pacific to be AS9120 certified, with its comprehensive quality management system that meets the stringent requirements and global standards adopted by the aerospace industry.
“We are honored by this award for Aerospace Logistics, which is a testimony of the support from our Aerospace industry customers, partners and staff. This award also represents the underlying commitment which DB Schenker has in continuing to innovate and pioneer specialized services and solutions for our customers, to improve logistics and operating efficiency across the entire the aerospace supply chain, which is even more relevant especially to mitigate the current tough economic climate,” says Darren Wedding, Vice-President, Schenker (Asia Pacific) Pte Ltd.
With dedicated Aerospace logistics services and experts, DB Schenker in APAC has more than 15 years of specialized expertise in the Aerospace industry, in managing regional distribution centers for leading aircraft manufacturers, MROs (Maintenance, Repair & Overhaul) and OEMs (Original Equipment Manufacturers). In 2007, Boeing located its Integrated Material Management Asia Regional Centre at DB Schenker’s Singapore Megahub – the largest freight and logistics hub located at the Airport Logistics Park of Singapore (ALPS) within the Free Trade Zone, to service its customers and network suppliers.
 New $50 million plant means western Sydney residents now among top recyclers in the state
A new $50 million advanced waste treatment plant will establish Western Sydney residents as the most effective recyclers in the State.
SITA Environmental Solutions’ Advanced Waste Treatment (SAWT) plant at Elizabeth Drive, Kemps Creek, was officially opened the 25th of march by the Minister for Climate Change and the Environment and Deputy Premier, Carmel Tebbutt.
The new plant will have a capacity to process 134,000 tonnes of waste annually. Of the waste stream entering the plant up to 78 percent will be diverted from landfill, dramatically changing the carbon footprint of Penrith and Liverpool residents, as materials are recovered and recycled for beneficial reuse.
The greenhouse emissions avoided by recycling organic and other waste at the new plant - rather than letting it decompose in a landfill - is 75,000 tonnes, the equivalent of taking 19,000 cars off the road each year.
The Hon Carmel Tebbutt, Minister for Climate Change and the Environment and Deputy Premier with Mr Christophe Cros, Chief Operating Officer, Suez Environnement
Legal news by Clayton Utz.
Penalties and price caps: How do they work together?
Graeme Dennis, Partner - Clayton Utz
Key Point: Failure to acquit sufficient permits in a compliance year will give rise to both a "make-good" obligation in the next year and a non-deductible civil penalty.
The Green Paper discussed in general terms both a penalty and a price cap, and the White Paper gives us some specifics. However, it takes a bit of digging to understand how the penalty and price cap work together and should be reflected in permit trading contracts.
In each compliance year of the trading scheme (ending 30 June), liable entities will be required to submit a return reporting their emissions liabilities by 15 October, and then surrender to the Regulator sufficient permits (which have a vintage year of the just-passed year or earlier) to cover that liability.
What if they do not have sufficient permits? How do the penalty and price cap provisions interact?
1.Parties will be allowed to use up to 5% of "next year" vintage permits to acquit for a compliance year [see 8.4 of the White Paper].
2.After that, failure to acquit sufficient permits in a compliance year will give rise to both a "make-good" obligation in the next year [policy position 7.30] and a non-deductible civil penalty [policy position 14.8].
3.The non-deductible civil penalty will be set by regulations for each compliance year. Unless the regulations prescribe a lesser amount, the non-deductible civil penalty will be an an amount equal to the benchmark average auction price for permits auctioned in the previous financial year, plus 10 per cent [see 7.6.4 of the White Paper].
4.Accordingly, the effective cost of non-compliance will be about 250% of the benchmark auction permit cost (100% for the cost of buying a make-good permit, and 110%/(1-0.3) for the non-deductible penalty). Therefore, it is only if market prices for permits in the period coming up to compliance exceeded about 250% of the expected auction permit cost that a liable entity might opt for non-compliance as a cheaper course than buying in the market to cover its shortfall.
5.The above rules apply for the life of the scheme. However, in the first 5 years there will also be a "safety-valve" open to persons with a shortfall (policy position 8.10, and see 8.6.2 of the paper). They will have the opportunity (between the final reporting date (15 October) and the final surrender date (15 December)) to buy from the government an unlimited amount of special "price-cap" permits at the fixed price of $40/tonne (escalated at 5%pa real). These price-cap permits will be non-transferable, and non-bankable, available only for use by the purchaser in the year of purchase, but they will be deductible for income tax purposes similar to other permits. Purchase of the "price-cap" permits will enable entities to meet their surrender obligations at a capped price and therefore to avoid the more onerous make-good and non-deductible civil penalties that would otherwise be imposed for a shortfall. On 4 May 2009 the Government announced that the price of the price-cap permits for compliance with the first year of the scheme (2011-2012) will be reduced to $10/tonne.
6.The Government's plan to allow unlimited acquittal of international permits means that the prospect of having an absolute unavailability of supply in a compliance period is much reduced, and is in a sense another safety valve. You go offshore if you cannot buy locally.
7.The consequences of the above position for contracts in relation to the trading of permits is that, unlike REC and NGAC schemes, the scheme penalty price is not going to be a useful proxy for a party's loss or damage for non-delivery, and a market price measure (even an international market measure) is going to be much more appropriate.
Graeme Dennis - Clayton Utz
For further information, please contact Graeme at gdennis@claytonutz.com
Small Business
Partners Management Coaching
Matthieu Reure
10 Little Surrey Street
Darlinghurst, NSW, 2010
T: 0402 640 051
E: mreure@pmcthereality.com
W: www.pmcthereality.com
PMC, your partner in management and consulting, is 14 years old firm that assesses the challenges of companies in order to implement the required changes to boost its development through a unique approach.
We are a team of experts with a real experience. Our employees (no free-lance) have the necessary technical and human related skills that allow us to improve operational performances.
We accelerate benefits and guarantee results.
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DFS Australia Pty Limited
Maxime Elgue
GPO Box 3680
Sydney, NSW, 2001
T: 02 8243 8321
E: maxime.elgue@dfs.com
W: www.dfsgalleria.com
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FACCI - NSW Chapter
Level 5, 58 Pitt Street,Sydney 2000
T. (02) 9251 1033 -
F. (02) 9251 1031
W. www.facci.com.au
The team at the Chamber is:
General Manager: Anne-Sophie VINCENT
Communications Coordinator: Loretta VISINTIN
Events Coordinator: Léopoldine LAVAL
If you wish to contribute to FACCI NSW e-news or are interested in advertising in the newsletter please contact Loretta on communications@facci.com.au.
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 FACCI Directory 2008
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