The Hindu Business Line : `Indian FIs keen on joint ventures in France'

Mumbai May 16 "Indian banks and financial institutions are showing increasing interest in French companies for joint ventures, but it is too early to name them yet," said Mr Arnaud de Bresson, Managing Director, Paris EUROPLACE, at a FICCI Conference on European Financial Markets here.

Mr Bresson also announced that Paris EUROPLACE is launching a financial services cluster dedicated to financial innovation and also setting up projects between academics, researchers and market professionals.

Economic Growth

In this field, the Paris financial marketplace offers to initiate closer co-operation and develop joint programmes with the Mumbai international financial centre. He also insisted on the importance of developing joint programmes in the asset management field, which would soon be announced.

The European Central Bank board member, Mr Christian Noyer, said Europe may be witnessing sustained economic growth as monetary conditions have remained favourable even after recent hikes in borrowing costs.

Mr Noyer, who is also a governing council member of the ECB, also said the outlook for prices is not a worry in the euro area.

"The ECB has not signalled any change in interest rates beyond June and any other interpretation would be wrong," he said. Paris EUROPLACE is the organisation in charge of promoting the Paris financial marketplace.

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