SEADRILL GHANA OPERATIONS LIMITED v. TULLOW GHANA LIMITED
ENGLAND AND WALES HIGH COURT
Drilling for oil is a risky business. Oil companies seek to protect themselves against the financial consequences of risk by appropriate clauses in their contracts, for example, by a force majeure clause. This case concerns a contract for the hire of an ex pensive oil rig which contained such a clause. During the course of a territorial sea dispute between neighbouring states the arbitration tribunal determining that dispute required drilling to cease in the disputed sea where drilling was to take place....
Growth of Islamic finance
Banks working towards standardising Shariah contracts over next two years
The Islamic finance industry has seen significant growth and is now estimated to have crossed US$2 trillion (RM8.38 trillion) dollars in assets.
The ecosystem has developed exponentially with the emergence of a full suite of Shariah-compliant offerings such as Takaful, Islamic funds, Shariah Advisory firms, sukuk and more.
Sports Illustrated to cut staff as new owner takes over
Sports Illustrated employees latest victims of downsizing affecting digital and print media
The owner of Sports Illustrated, the iconic sports magazine that has suffered a steep decline in recent years along with the broader magazine industry, announced Thursday that it would be laying off a portion of its staff.
The company declined to detail how many employees were dismissed, but The Wall Street Journal reported that 40 people at the magazine had lost their jobs.