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Bloomberg Dana Gas has reached an agreement with key holders of $700 million of its Islamic bonds to restructure the securities, seeking to end a legal battle. A committee representing sukukholders, including BlackR ock Inc and Goldman Sachs Group Inc, have agreed to terms that include two options for creditors, the company said in a statement. Dana Gas and creditors ...

Bloomberg The fate of the flattening US yield curve now rests squarely in the words of Federal Reserve officials. Bond traders have already reached their verdict. The yield spread between 5- and 30-year Treasuries narrowed last week to as little as 26.2 basis points, the lowest since August 2007. The prospect of an inverted curve, which has presaged past recessions, ...

Bloomberg Brace for a volatile day when Malaysia’s stock market reopens Monday after a three-day break that saw the opposition party win office for the first time in six decades. Malaysia’s FTSE Bursa Malaysia KLCI Index was shut for three days as Mahathir Mohamad led an alliance to unexpectedly beat the ruling Barisan Nasional coalition. In his first remarks as ...

Bloomberg The price of crude in rubles has surged to an all-time high, but Russian oil producers will miss out on record first-quarter profit because of a rising tax burden. Investors in Lukoil PJSC or Rosneft PJSC — which is due to publish earnings on May 14 — will probably have to wait until later in the year to see ...

Bloomberg The business model that felled what was once the world’s biggest renewable energy company is alive and making money in Britain. Listed funds using the yieldco model are outperforming the FTSE All-Share Index on a risk-adjusted return basis, according to research from Imperial College. “Yieldco” had almost become a dirty word after SunEdison Inc.’s bankruptcy in 2016. The strategy ...

Bloomberg Bahrain has enough foreign reserves to maintain its currency’s peg to the US dollar, central bank governor Rasheed Al-Maraj said, as higher oil prices help the island-kingdom ease pressure on its strained public finances. Al-Maraj, speaking in an interview in the capital Manama, said he wasn’t aware of any current talks between Bahrain and its Gulf Arab allies over ...

Bloomberg Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. With the move to curb Iran’s oil output encouraging more shale drilling, prices for natural gas produced alongside crude in West Texas could crater, falling to zero some days, according to Tudor Pickering Holt & Co. Already, the ...

Bloomberg General Electric Co. will be required to buy Alstom SA’s stakes in three energy joint ventures for 2.59 billion euros ($3.1 billion), closing a lengthy chapter in the massive 2015 tie-up that has become a headache for the beleaguered US manufacturer. Alstom said that it will exercise its options to exit the renewable energy, grid and nuclear businesses that ...

Bloomberg European Central Bank President Mario Draghi stepped up his call for a euro-area fund to make sure countries don’t drift apart in future crises. “We need an additional fiscal instrument to maintain convergence during large shocks, without having to overburden monetary policy,” he said at a European Union event in Florence, Italy. “Its aim would be to provide an ...

Bloomberg Several Mexican banks experienced large cash withdrawals in recent weeks after possible cyber attackers infiltrated some financial institutions, triggering unauthorised money transfers, the central bank said in an interview with Bloomberg. Banco de Mexico has zeroed in on five financial institutions whose external connection to the central bank’s electronic payment system was compromised, Lorenza Martinez, the central bank’s head ...