Business Blog

A London High Court judge ruled in favour of creditors in a case over whether energy company Dana Gas must repay $700mln of Islamic bonds

Dana is claiming it does not need to redeem the sukuk, which matured at the end of last month, because the instruments became invalid under UAE law.

The company posted a net profit of $102 million, considerably higher than the $13 million in profit it made during the same period one year earlier.

MSCI world index unlikely to hit best streak since 2003

Another impressive record for world stocks was hanging in the balance on Thurs.

Upbeat investors pushed most widely-tracked index of world stocks up for ninth straight day and sailing past the 500 point barrier.