Also in the news...
These are exciting times for Dubai and the UAE. With the entire business worldís attention soon to turn to the Emirates with the delayed Expo 2020 kicking off in October (and continuing all the way through to the end of March next year) itís never been a better time to be a UAE business owner
The concierge service provides a one-stop shop to help maritime businesses interact with government departments.
British rail companies are on track for a potential export boom thanks to the UK-Australia trade deal.
How you import from and export to Mexico.
As more economies around the world open up and companies bring employees back to the office, global expansion plans that may have been put on hold last year are now taking shape. It can be challenging to know where to start, but here are some key factors to consider when expanding your operations into new countries.
Total moves itís financial headquarters to London.
In order to get a little closer to the international market, the kind of market valued by major global firms, the French oil giant Total is in the process of moving its management financial personnel to London; a move confirmed by a firmís spokesperson to Reuters.
Indeed, the spokesperson said that no more than 70 employees are concerned by this displacement; most of them are working for the companyís treasury department. According to the spokesperson: ďItís currently under discussion with social partners, trade unions. It would concern 60 to 70 people, out of the groupís 100,000 staffĒ.
ďThe idea is to get closer to London, which is the oil trading and financial center of Europe to allow the group to improve its international visibility.Ē affirmed the spokesperson by explaining the main purpose of this move.
Running away from the French tax system
The spokesperson continued that Total pays and will continue to pay taxes in France despite this shift of some members of its financial staff, and other departments including the overall management will remain in France.
It is worth mentioning that Totalís sales were down to 4% this year: from EUR 49.14 billion to € 46.97 billion; with the upstream segment was observed a fall of 7% from EUR 2.51 billion to EUR 2.33 billion. Of course, Total has managed to increase its total production of 2.26 million barrels of oil equivalent per day to 2.29 MMboepd; which represents a growth of 1% of the production. However, liquids production decreased by 5% and has fallen in 1.16 million barrels per day, while the total gas production grew to 6.17 million cubic meters per day, representing an increase of 8% of the production.
Breder Suasso provides services and cash management solutions to relocating firms and expats both to London and across the world.
Visit Breder Suasso website www.bredersuasso.com