Bloomberg Egypt’s net foreign reserves rose to the highest level in more than five years in November, as the country started receiving money from the International Monetary Fund and global lenders. Reserves reached $23.1 billion, up from $19 billion in October, according to data posted on the central bank’s website. Egypt got the first $2.75 billion installment of a $12 ...

Reuters GFH Financial Group hopes to largely complete the acquisition of Bahrain’s Bank Al Khair in the first quarter of next year and is at an advanced stage of exploring a merger with another Bahraini bank, its chief executive said on Tuesday. “The recent merger we announced was Bank Al Khair – we hope during the first quarter of 2017 ...

  Reuters Oman’s Finance Ministry is looking at cutting expenditure again in the state budget for next year to reduce a deficit caused by low oil prices, sources briefed on the ministry’s thinking told Reuters on Tuesday. A draft budget for 2017 foresees a 5 percent cut in spending from this year’s budget, and no increase in revenues, the sources ...