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Friday, April 20, 2018 20:4 GMT
A court in the United Arab Emirates has ruled that local energy firm Dana Gas can distribute dividends to its shareholders, contradicting an earlier decision by a British court, according to court documents published on Wednesday. The ruling is the latest move in a legal battle in the UAE and Britain which began last year, when Dana halted payments on its US$700 million of Islamic bonds. The company argues the sukuk have become unlawful because of changes in Islamic finance; holders of the...More