Briefly

FRANCE

Nation facing 'one of worst deficits'

France now has "one of the worst "public deficits in its modern history, the newly installed finance minister said on Tuesday, confirming new taxes on the wealthy and big businesses are on the table to get finances back in order. Antoine Armand added that he would be talking to economic actors, including unions and bosses of organizations, in a bid to slash government overspending. The deficit is expected to reach 5.6 percent or more of national output this year — almost double the European Union limit. "Apart from one or two one-off crisis years in the past 50 (years), we have one of the worst deficits in our history," Armand told broadcaster France Inter.

SINGAPORE

Ex-minister pleads guilty in graft trial

Singapore's former transport minister S. Iswaran has pleaded guilty to receiving gifts while in office, as proceedings began on Tuesday in the first graft trial involving a minister in the city-state. The case, which charges Iswaran with receiving favors that include tickets to English Premier League soccer matches and to the Singapore Formula 1 Grand Prix, has gripped the country often cited as one of the world's least corrupt. Iswaran, 62, who joined the cabinet in 2006, is the first Singaporean minister to be tried in court on graft charges. Prosecutors are seeking six to seven months in prison combined for the charges, The Straits Times reported.

SYRIA

President approves new govt formation

Syrian President Bashar al-Assad announced in a presidential decree on Monday the formation of a new government, state news agency SANA reported. The reshuffle included key ministries, including the ministries of information, foreign affairs and finance. Bassam al-Sabbagh, former deputy foreign minister, replaced Faisal Mekdad to be the foreign minister. In another decree, Mekdad was appointed as vice-president, tasked with implementing foreign and media policy under the president's directives. Ziad Ghossoun, former director general of the Al-Wahda Printing and Publishing Organization, one of the largest print media publishers in Syria, was named the new information minister.

Agencies - Xinhua