Bloomberg Iran’s central bank is signaling that it will loosen its grip on the rial in an effort to end a dual-exchange rate system seen as an obstacle deterring foreign investment needed to rebuild the economy. Policy makers, in a decision reported earlier this month, allowed commercial lenders to buy foreign currencies using rial rates set by the market ...

  Bloomberg Bahrain’s GFH Financial Group is in talks to buy a majority stake in Islamic lender Bank Alkhair. GFH has signed a memorandum of understanding for the potential acquisition, which is subject to board and shareholder approval, completion of due diligence, agreement on an acquisition structure and regulatory approvals, according to a statement Monday to the Dubai stock market. ...

  Bloomberg OPEC has done it again. Talk of a potential deal to freeze output helped push oil close to $50 a barrel and prompted money managers to cut bets on falling prices by the most ever. West Texas Intermediate, the U.S. benchmark, went from a bear to a bull market in less than three weeks. OPEC is on course ...