Bloomberg Dubai Islamic Bank (DIB) hired HSBC Holdings Plc to advise on its possible acquisition of Noor Bank, according to people with knowledge of the matter. Noor Bank is working with Barclays Plc on the deal, the people said, asking not to be identified because the discussions are private. An acquisition would create a lender with AED278 billion ($76 billion) ...

Bloomberg Pakistan and the International Monetary Fund (IMF) reached an agreement on a loan of about $6 billion designed to help the South Asian nation avert an economic crisis. The lender’s executive board will meet to appr- ove the agreement for the 39-month loan, “subject to the timely implementation of prior actions and confirmation of international partners’ financial commitments,” IMF’s ...

CAIRO / WAM The Arab League Secretary-General Ahmed Aboul Gheit has condemned in the strongest terms the sabotage of four commercial vessels near the territorial waters of the UAE. In a statement denouncing the incident, Aboul Gheit said that these criminal acts represent a serious violation of the freedom and safety of trade and maritime transport routes, and would raise ...