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 ...

  Bloomberg Oil retreated from the highest close in 16 months as OPEC pumped a record amount of crude in November, partly led by members exempt from cutting output as part of last week’s deal to curb supply. Futures slid as much as 1.7 percent in New York after advancing 15 percent over the previous four sessions. The Organization of ...