Dubai / Reuters United Arab Emirates energy producer Dana Gas did not redeem some $700 million of its Islamic bonds when they matured on Tuesday as a dispute on the validity of the sukuk drags on in British and UAE courts, sources familiar with the matter said. Dana refuses to redeem its bonds because it claims changes in the interpretation ...

Dubai / Reuters Dubai-based Emirates REIT, a sharia-compliant real estate investment trust, plans to issue a debut Islamic bond of at least $300 million by the end of this year, said a source close to the company. The sukuk, to be denominated in US dollars, could potentially replace all of the company’s outstanding debt, said the source, who spoke on ...

ABU DHABI / WAM With the approval and blessings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the new ministers of the UAE government took the oath on Tuesday before His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, at Mushrif Palace in Abu Dhabi, in the presence ...