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HONG KONG: McDonald's Corp has agreed to sell the bulk of its China and Hong Kong business to state-backed conglomerate CITIC Ltd and Carlyle Group LP for up to $2.1 billion (Dh7.71 billion), seeking to expand rapidly without using much of its own capital. Zurich The Swiss National Bank expects a 2016 full-year profit of 24 billion francs (Dh86.68 billion; $23.6 billion), enabling it to shell out money to the federal government and municipalities. Foreign-currency holdings contributed more than 19 billion francs, and valuation gains on its gold holdings added 3.9 billion francs, the central bank said on Monday, citing an initial estimate. Last year's result is set to be the second-best in the Read More ... Tags: Corporate Enterprises Finance Sectors Banks Profits Financial institutions German automaker Volkswagen saw sales jump 16 percent in December for its namesake brand, propelled by a big increase in China, Volkswagen's biggest market. Global sales reported Monday rose to 567,900 from 487,700 despite the damage to the company's reputation from its scandal over cars rigged to cheat on diesel emissions tests.