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 ...

ABU DHABI / WAM The Integrated Transport Centre (ITC), in Abu Dhabi has announced that premium parking tickets can be used in all premium and standard parking bays in Abu Dhabi. Whereas standard parking tickets can only be used in standard parking bays in all areas in Abu Dhabi Island. Khamis Al Dahmani, Head of Mawaqif Team, stated that this ...

DUBAI / WAM Dubai Science Park (DSP), has announced that it is leveraging its new built-to-suit model to construct a new Global Research Centre for Himalaya Drug Company, a producer of over 300 cosmetics, nutritional supplements, herbal medicines and pharmaceutical-grade Ayurvedic products in over 90 countries. The centre is due to open in 2021. The Himalaya Global Research Centre has ...

Dubai / Emirates Business Dubai Judicial Institute (DJI) inaugurated a trial version of its e-library to serve as an advanced gateway to enhance user experience. The new service was announced in conjunction with DJI’s 10th participation in the 29th Abu Dhabi International Book Fair (ADIBF) 2019, hosted by Abu Dhabi and organised by the Abu Dhabi Department of Culture & ...

DUBAI / WAM The Japan National Tourism Organisation (JNTO), is looking to build on the 31 million visitors it welcomed in 2018, at the Arabian Travel Market 2019 that begins this week. While the majority of its visitors – nearly at 24.34 million – are from neighbouring Asian countries, Executive Vice President, Tsutomu Shimura, said they are keen to attract ...

DUBAI / WAM Dubai Chamber of Commerce and Industry has announced the formation of Car Dealers Business Group to unite the voices of member companies, serve common interests, and foster public-private sector dialogue on important matters impacting the auto sector in Dubai. The new business group will provide a platform for companies operating in this space to voice their concerns ...

Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Chairman of the Education and Human Resources Council (EHRC), presided over a meeting of the EHRC on Sunday in Abu Dhabi. During the meeting, Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention, made a presentation ...

Sharjah / Emirates Business Panelists at the fifth Sharjah Economic Ramadan Majlis under the theme ‘The Contributions of Government Legislations to Attract FDI’, stressed that the UAE had an advanced and agile legislative system that kept abreast of the local and regional economic and technological changes. During the event held at Al Jawaher Reception and Convention Centre (JRCC), participants pointed ...