News in Brief(13-02-2018)

French PM seeks investment from Gulf region

DUBAI, Feb 12: France's Prime Minister Edouard Philippe promised lower taxes and a business-friendly France at a global summit in Dubai on Sunday, seeking investment from the oil-rich Gulf region. "France is undergoing great transformation," Philippe said, addressing a thousand-strong audience at Dubai's World Government Summit. — AFP

Germany to hold yuan reserves as part of strategy

FRANKFURT, Feb 12: The Bundesbank's decision to hold some currency reserves in Chinese yuan is part of a long-term strategy, and the investment will be effected as long as the preparations have been completed, the German central bank told Xinhua in a recent interview. — Xinhua

Singapore retail sales rise

SINGAPORE, Feb 12: Singapore's retail sales went up 4.6 per cent year on year last December, comparing to a re-calculated five per cent rise in November, the Department of Statistics of Singapore announced on Monday. The retail sales dropped 0.2 per cent month on month on a seasonally adjusted basis in December, comparing to a 4.9 per cent month-on-month growth in the previous month. —Xinhua

EU businesses downplay Brexit fallout

BRUSSELS, Feb 12: Despite often bad-tempered divorce negotiations, a majority of European businesses believe that EU-UK ties will continue without major disruption after Brexit, a survey revealed on Monday. — AFP