DUBAI / Reuters Dana Gas revoked an offer to creditors to exchange its outstanding $700 million Islamic bond for new notes, ending the chance of a consensual resolution to a case that could shape the future of the global Islamic finance industry. Dana is refusing to repay holders of its Islamic bond, or sukuk, which matures in October. The energy …

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued the landmark Federal Law No. 7 of 2017 for Tax Procedures, which sets the foundations for the planned UAE tax system, regulating the administration and collection of taxes and clearly defining the role of the Federal Tax Authority (FTA). “The Tax Procedures Law is a …

Abu Dhabi / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has unveiled a compelling replica of the ‘Dubai Creek Tower’ — the icon that will frame a fascinating new skyline in the emirate. The new centerpiece of the Grand Atrium in The Dubai Mall, was revealed …