INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Turkey says warned France about Lafarge support of terror groups

picture shows the logo on a plant of French cement company Lafarge in Paris. AFP
  • Lafarge pleaded guilty in a US court Tuesday to paying millions of dollars to the Islamic State group and other jihadists in war-torn Syria between 2013 and 2014
  • Lafarge now faces the possibility of the introduction of evidence from the US prosecution into a separate French case over similar charges

Turkish President Recep Tayyip Erdogan said Friday he warned France about the cement company Lafarge’s ties to terror groups in northern Syria.

“When I explained how the cement giant called Lafarge supported terrorist organisations in northern Syria… the French did not understand,” he said.

Erdogan said he had also informed French President Emmanuel Macron.

“I told this to Macron as well. It has become the most important issue on France’s agenda at the moment,” he said.

“Lafarge emerged as one of the most important institutions supporting terrorism.”

Lafarge pleaded guilty in a US court Tuesday to paying millions of dollars to the Islamic State group and other jihadists in war-torn Syria between 2013 and 2014, and agreed to a $778 million fine over conspiring to provide material support to US-designated “foreign terrorist organisations”.

The US Justice Department said company executives, including former chief Bruno Lafont, knew of the arrangement with the jihadists.

After the settlement, Lafarge now faces the possibility of the introduction of evidence from the US prosecution into a separate French case over similar charges.