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SYDNEY/ Reuters The US central bank should be patient as it raises interest rates this year, said Federal Reserve Bank of Atlanta President Raphael Bostic, adding his voice to other dovish comments from officials concerned by low inflation and the risk of an inverted yield curve. “I am comfortable continuing with a slow removal of policy accommodation,’’ Bostic, who votes …

Bloomberg Andorran private bank Andbank is working to add Argentina to its Latin American roster and looking to expand in Mexico and Brazil as tax amnesty programs unlock wealth in the region. The micro-state’s largest bank, with 25 billion euros ($30 billion) under management, is trying to obtain a license to operate as a global investment adviser in Argentina under …

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 …

Bloomberg Wm Morrison Supermarkets Plc enjoyed a bumper Christmas season as UK consumers squeezed by inflation cut back on department-store spending to dress their Christmas tables in style. The Bradford, England-based grocer’s sales during the holidays beat analyst estimates as consumers splashed out on items from its premium range, including French yule logs. The shares rose as much as 4.7 …

Bloomberg A Christmastime dropoff at the resort city of Acapulco led Mexican airport operator Grupo Aeroportuario del Centro Norte SAB to its first decline in passenger traffic for the month of December since 2009. OMA, as the company is known for short, reported a 0.2 percent decrease in total passenger traffic for December, including a 9.8 percent slump in Acapulco …

Bloomberg Geoffroy van Raemdonck has spent his career at global fashion companies such as Ralph Lauren Corp. and Louis Vuitton. But it will take more than an eye for style to fix the problems at Neiman Marcus Group Ltd., a quintessentially American luxury department-store chain hoping to relive its former glory. Van Raemdonck, who becomes chief executive officer next month, …

Bloomberg A clear winner is emerging among Chinese equities this year, whether in Hong Kong or Shanghai: real estate. Property firms account for eight of the 10 best performers on MSCI Inc.’s gauge of offshore Chinese shares in January, while developers have rallied the most among industry groups on the Shanghai benchmark. Shimao Property Holdings Ltd. has led the charge …

Bloomberg US stocks were mixed, with the S&P 500 Index on track for its first decline of the year, as investors assessed the prospects for corporate earnings, while the dollar strengthened after three straight weekly declines. The benchmark for American equities took a breather after its best week in 13 months, while the Nasdaq indexes pushed higher as semiconductors advanced …