Reuters Japan’s economy is expected to have narrowly avoided another recession at the start of 2016 but economists in a poll also predicted that growth and inflation will remain tepid this year, held back in part by the recent sharp rise in the yen. The Bank of Japan (BOJ) surprised in a split January decision to implement a tiny ...

  Reuters Bank Muscat, Oman’s largest lender, posted a 1.1 percent increase in first-quarter net profit on Thursday, according to a bourse statement, on the back of rising income from loans, fees and commission. The bank made a profit of 43.8 million rials ($113.8 million) in the three-month period ending on March 31, up from 43.3 million rials a year ...

  Reuters Saudi Hollandi Bank, Saudi Arabia’s oldest lender, posted a 5.1 percent fall in first-quarter net profit on Thursday as income from trading, fees and commissions dipped. The lender made a profit of 511.5 million riyals ($136.5 million) in the three months to end-March, down from 538.9 million riyals in the corresponding quarter of 2015, according to a bourse ...

  Reuters Britain’s Legal & General Group PLC and Swiss Re AG are among firms said to be weighing bids for Deutsche Bank AG’s Abbey Life Assurance Co, sources familiar with the matter said. In September, it was reported that the German lender was exploring the possible sale of its British insurance unit Abbey Life. Phoenix Group Holdings, Britain’s largest ...

  Washington / AFP The World Bank and the new China-backed Asian Infrastructure Investment Bank (AIIB), originally seen as possible rivals, joined hands with an agreement to co-finance projects. The two development banks signed off on a framework for working together on infrastructure programmes over the coming year which will give the World Bank some crucial oversight on how projects are ...

  FRANKFURT / Reuters Lufthansa is in talks with the owners of Scandinavian carrier SAS and Brussels Airlines to expand the number of destinations it flies to and grow its low-cost Eurowings business, people close to the German airline said. Two sources said that Lufthansa had been in talks with the owners of SAS since the autumn, which could lead ...

  Reuters US retail sales fell in March, dragged down by the auto sector, according to official data that suggested tepid consumer spending. The Commerce Department said retail and food services sales fell 0.3 percent in March and after sales in February were flat. The month-over-month decline was due to a 2.1 percent drop in motor vehicle sales. Stripping out ...

  LONDON / Reuters British discount retailer Poundland expects to return to underlying sales growth this financial year after its last one was hit by disruption from the acquisition of a rival and the addition of more than 200 stores, it said on Thursday. The company, which sells everything from washing detergent to boxes of chocolates to packs of batteries ...

  Paris / Bloomberg Casino Guichard-Perrachon SA, the French grocery retailer targetted by short seller Carson Block, reported higher first-quarter sales in its home market, easing pressure on Chief Executive Officer Jean-Charles Naouri. Revenue in France rose 2.8 percent to 4.55 billion euros ($5.1 billion), Saint-Etienne, France-based Casino said on Thursday in a statement. Analysts predicted 4.52 billion euros. French ...

  HONG KONG / Reuters In a bid to increase its retail footprint, McDonald’s Corp is targeting private equity firms, including Bain Capital, MBK Partners, TPG Capital Management and Chinese state-backed conglomerate China Resources (Holdings) for its planned sale of 2,800 restaurants in North Asia, people familiar with the matter told Reuters. The US fast food giant is adopting a ...