is this the correct punctuation the new student, having just arrived from France, spoke very little English.

Yes, you are correct:

"The new student, having just arrived from France, spoke very little English."

The correct answer is yes, the sentence "The new student, having just arrived from France, spoke very little English." has a correct punctuation.

Explanation:

When we have information that is not relevant to the sentence, and it is placed between two commas, we are in the presence of sentence interrupters.

Everything inside the comma will be information we don't need to understand the sentence.

In this case we have the following sentence:

The new student, having just arrived from France, spoke very little English.

Let's see what happens if we remove what is located between the commas:

The new student spoke very little English.

As we can see, the sentence still makes sense, so we can interpret that the information was not relevant.