WAM CEO of Kuwait National Petroleum Company (KNPC) Mohammed Ghazi Al-Mutairi announced that a collective KD1.71 billion has been spent on a bio- fuel project, which was locally and internationally financed. In an interview with Al-Rai, carried by state news agency, KUNA, on Sunday, Al-Mutairi said that the funding was possible through loans from local banks which is given …

  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. …