After the United States and the European Union, the Arab League threat of economic sanctions against Syria. The organization includes Saoudi Arabia, Iraq and Egypt imposed an ultimatum: if the power does not stop the violence against his people, the organization will hit the country in the PORTFOLIO. But these economic sanctions have their limits. Explanations.

Imposing the sanctions and how?

So far, it is especially the European Union has shown.Moreover, tourism is affected: it reported 6 to 7 billion euros last year and represents 12% of GDP. "The economic machine is running at 40% of its resources today," said Hasni Abidi, director of the Centre for Studies in the Arab world (CERMAM). The possible sanctions of the Arab League at the end of their ultimatum could further exacerbate an already fragile economy. "States of the Arab League import a lot of fruits, vegetables and grains, Syria has a highly developed agriculture. If you stop overnight, these imports, it's a catastrophe for the country," said the researcher. The situation is so delicate that the Minister of Economy has just imposed a drain of $ 10 on the salaries of civil servants to bail out the state.

The specialist geophysical services and equipment for the oil industry recorded a utilization rate of the fleet marine marked improvement, while Sercel, its subsidiary specialized in the production of geophysical equipment, has reported a significant increase sales of land equipment.

"Our results have improved significantly this quarter. They are excellent for Sercel.

In a "difficult situation", France has retained last year's fourth largest exporter behind the United States, Britain and Russia, reads the report to Parliament on the exports of arms of France in 2010.

The main customers of France were Saudi Arabia, Brazil, India and Malaysia.

In the preamble to the report, the defense minister, Gérard Longuet, welcomed a "success" of France in a crisis.

He sees an encouragement "not to relax our efforts and to continue our work for our exports to strengthen the industrial and technological base defense of our country and preserve the 165,000 jobs that the industry has."

Over the period 2006-2010, the Middle East is the top destination for exports with 27%, followed closely by Latin America 25%, thanks to contracts with Brazil.

Asia represents 18% of the market, and expected success with India could advance this figure in years to come.Finally the percentage of world market share in Europe is 17%.

The contract for the sale of two ships Projection and Command (BPC) Mistral class in Russia for an estimated $ 1.2 billion was signed in June, and is not accounted for in 2010 .

The two helicopter carriers are built by the French shipyard DCNS, contractor on the contract, and STX, in collaboration with OSK.

DCNS, a public company, is controlled to 25% by the defense electronics group Thales.The Korean group STX, owner of the shipyards of Saint-Nazaire, is also involved in the construction of the Mistral.

As for the ongoing negotiations with several countries including Brazil and the United Arab Emirates to sell for the first time outside the Rafale combat aircraft from Dassault Aviation, they have not yet been completed.

Over the decade 2001-2010, the United States, Britain, Russia, France and Israel have shared 90% of the arms market.

The issue of recapitalization of banks is a major enrolled in the agenda of the EU summit scheduled for Sunday, expected to make a comprehensive response to the debt crisis.

"Thank God it's not as high as suggested by the media.What is needed for the recapitalization is about 100 billion (euros), "said Maria Fekter at a conference.

Banking sources and the European Union had earlier told Reuters it would take 90 to 100 billion euros to recapitalize banks in the EU.

This amount, which is the subject of an agreement on the part of Twenty-Seven, should cover about sixty of the largest banks in the EU, the sources said.

"The amount was discussed by member states, it is now acceptable for everyone," said a source told Reuters the EU.

"The amount could exceed 90 billion euros," said a banking source.

The envelope must be added to the 50 billion already raised by European banks over the period from January to April and the funds raised on the market for which the sum is not yet precisely known.

Sovereign debt valued in "MARK TO MARKET"

It takes into account a requirement of capital adequacy ratio "core tier one" of 9% and retains the same definition of this ratio as that used in the last series of stress tests in July, despite protests from some countries.

Germany will for example not allowed to consider in its bank holdings "silent" they hold in other institutions and, in the same way, Spain will not recognize additional reserves of capital that Bank of Spain requires national banks.

As expected, the amount also takes into account a value to market value of sovereign debt held by banks.

This exercise of "mark to market" will cover not only the securities issued by the peripheral countries of the euro area but also those known as the center, who sometimes treat the secondary market at above face value, as the case for German Bunds.

"There is no reason that we inflicted only the negative aspects of this exercise without taking into account the positive aspects," said one source, but said it would have a positive impact on the envelope eventually required for such recapitalization.

This amount must now be discussed by finance ministers and between heads of state and government of the euro area and EU, who meet from Friday to Sunday in Brussels.

Cigarette packs will cost on average 30 cents more starting Monday in France, a 6% increase sought by the government should have little effect on consumption, but that will bring 600 million euros a year in State to Safely smokers will find it in a package less than 5.70 euros in their tobacconist. For the first time, the Marlboro (the best-selling package with nearly 25% market share) will pass the bar 6 euros to 6.20 euros.The government has allowed manufacturers to revise their prices, anticipating an increase in minimums of perception which must be passed by Parliament in the law on financing of Social Security.

This increase was announced by Prime Minister Francois Fillon, in late August, when presenting the plan anti-government deficit. It should bring 90 million euros this year and 600 million in a full year.

Taxes are 80% of the price of a pack of cigarettes. Most (over 10 billion euros in 2010) goes into the coffers of the social security system. Fillon also announced a further increase of 6% in 2012, without specifying the date. This is the third consecutive year that the cigarettes in the fall recorded such an increase (30 cents per pack), well above inflation.However, sales have never declined so far in the same proportions.

54.8 billion cigarettes sold in 2010

Thus, it has sold 54.79 billion cigarettes in 2010 against 54.98 in 2009, a mere drop of 0.3%. At the same time, the amount of rolling tobacco rose from 7257 to 7598 tonnes (+4.7%). In total, sales of tobacco (including cigars) increased by 0.14% by volume, according to figures from the observatory of drugs (OFDT). Again this year, cigarette sales in late July had declined by only 0.6% in volume compared to 2010.

Value, because of previous price increases, the market is increasing by about 5%. Growth shared by the state (almost 13 billion euros in 2010, including 2.5 under the VAT), tobacconists (8.2%) and manufacturers and distributors (11.8%). The anti-smoking groups believe that any increase less than 10% has no effect on consumption.The Office of Tobacco Prevention (OFT) ironically on Monday up seeing an "application" of the state "to the tobacco industry for agreeing to increase by more than 100 million profit."

Tobacconists and manufacturers recall their part that a sharp increase has an effect on sales in tobacco shops, without lowering consumption, since it encourages smokers to buy abroad or from resellers on the sly. A study of Customs estimates that 20% of cigarettes smoked in France are not purchased in the network of tobacconists, but fraud (5%) or legally (15%) in the neighboring European countries (Belgium and Spain) where the package is sell up to 30% cheaper.

These purchases, which exploded after the sharp increases in tobacco prices in 2003/2004, affecting particularly border trade, result in financial compensation from the state to tobacconists.A parliamentary report issued in early October to the Minister of Budget, recommends "a convergence of prices of tobacco in France and in neighboring states," but also "to reflect on the taxation of rolling tobacco" for "contrecarrrer the substitution effect for each increase in the price of cigarettes. "

"The employment report for this month is also surprisingly good as last month was surprisingly bad. The labor market remains weak and the Fed should not be impressed by this report, which suggests an EQ3 (a third cycle of purchasing government bonds) at the FOMC meeting of November 2, "said Rob Carnell, economist at ING Financial Markets.

The CAC 40 index gained 0.66% to 3095.56 points but under the highest of the day (3126.0) after nearly 8% over the previous two sessions.For the week, the index rose by 3.81%.

London has been 0.23%, 0.54% Frankfurt and Milan 1.29%. The pan-European Euro Stoxx 50 index rose 0.81%.

"The European stock markets appear to initiate a phase of stabilization, as the actions of several sectors (banking, insurance, oil, utilities, telecommunications). This reflects the extremely low valuations of these securities," said Vincent Guenzi, strategist at Cholet Dupont.

Axa (5.10%) finished at the top of increases in the CAC 40, followed by Total (2.85%) and Peugeot (2.56%).

Carrefour (-3.66%) registered the largest decline of the CAC on profit taking.EADS lost 3.32%, hit by the rise of the euro, which fell from 1.3190 dollars late Monday at 1.3485 late Friday afternoon, the day after the announcement of new measures support to banks by the ECB.

In the bond market, the performance of the German government bond (Bund) and 10 years has reached 2%.

The Dow Jones gained 1.44% or 153.41 points at 10,808.71 points. The Standard & Poor's 500 benchmark fund managers, was awarded 24.72 points or 2.25% at 1123.95 points. The Nasdaq composite has been 2.95% or 68.99 points to 2404.82 points.

The U.S. stock market at large had lost 18% over the last four months, affected by poor economic growth around the world and concerns about the deficit countries in the euro area.

The magnitude of these losses out of the woods investors on the lookout for buying opportunities.In particular, they set their sights on tech stocks and banking.

"We buy a few shares. We stick to companies with strong balance sheets, or with a global presence in emerging markets, certainly not in the financial services area," said Kim Forrest, an analyst at Fort Pitt Capital Group in Pittsburgh.

Some other investors, however, favored the bank. The index of the financial sector, down nearly 30% since the market peak reached on April 29, ended up 4.1%.

The remarks of the President of the Federal Reserve were also able to help cheer the fellows.The Fed, Ben Bernanke said, is ready to take further steps to support economy "almost staggering," clearly referring to the will of the central bank to intervene further to ensure that the U.S. fall into recession.

In terms of values, Apple, including the presentation of the new iPhone has disappointed, ended down by 0.56% to 372.50 dollars. The value has sharply reduced its losses late in the session along with the market went back.

Bank of America, in session after reaching its lowest level since March 2009, ended with a gain of 4.15% to 5.76 dollars.

Citigroup rebounded by 5.5% and Morgan Stanley from 12.3% to 14.01 dollars.The value is down 48.5% this year.

Sears Holdings soared 11.7% to 63.94 dollars.

About 12.9 billion shares changed hands on the New York Stock Exchange, the Nasdaq and the Amex, more than 60% more than the usual daily average since the beginning of the year.

The consortium, composed of the four largest banks, pension funds in four of the country and one of the largest life insurers in North America, also said he continued to work to get the go Green regulations for its offer of 50 Canadian dollars per share.

TMX and the London Stock Exchange had agreed to merge earlier this year before the LSE does not waive lack of sufficient support from shareholders of TMX.

"Either we proceed immediately to implement significant structural reforms and monitor the dynamics of the debt or we face a dramatic situation," said Greek central banker in an interview to the newspaper "Sunday Real News".

For the man who sits on the Board of Governors of the European Central Bank (ECB), the realization by the firm BlackRock Solutions for an audit of the loan portfolios of Greek banks should help them to regain access to market financing.

In the previous survey in April, the business leaders the industry planned to increase investment by 15% in 2011.

Last year, these investments have increased by 1%, says the National Institute of Statistics and Economic Studies, while the April survey estimated the stable.

For 2011, the downward revision of forecasts from one quarter to the other "is attributable to the sector" other industries "(-3 points), especially metal or wood working, and the sector electrical, electronic, computer and machinery (-2 points), "INSEE said.

"For the first half of 2011, entrepreneurs in the manufacturing sector confirm the progress of their investments over the second half of 2010, early in January. For the second half of 2011, they plan to increase their investments over the first. "

Investment in the industry represents about one quarter of productive investment in France.