Bloomberg The Swiss National Bank (SNB) expects to have racked up a record 54 billion-franc ($55 billion) profit in 2017, in large part because of the drop in the franc against the euro. Earnings at the central bank led by Thomas Jordan got a boost from holdings of foreign currency, which contributed 49 billion francs. The overall result dwarfs even ...

SYDNEY/ Reuters The African Export-Import Bank (Afreximbank) has raised around $260 million via three sharia-compliant facilities to support small- and medium-sized businesses in the region, as African markets gradually open to Islamic finance. Cairo-based Afreximbank, which was founded by African governments and other investors in 1993 and focuses on trade finance, obtained a $100 million financing from the Islamic Corp ...

Bloomberg FedEx Corp. expects growing cross-border online transactions to be a driving force for its business in China as the company prepares to open one of its largest facilities in Shanghai. “Absolutely that’s an important part of it,” David Cunningham Jr., chief executive officer of FedEx Express, the world’s largest cargo airline, said in an interview in Shanghai. Cunningham said ...