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Michael Fahy

Michael Fahy


Articles

A currency exchange board in Istanbul shows prices as the lira sank against most major currencies this week following the sacking of former central bank governor Naci Agbal. AP Photo
Sacking of central bank governor could hamper Turkish banks' ability to tap markets

The move 'hurts investor confidence', constraining banks' access to funding, Moody's says

EconomyMarch 25, 2021
The UAE plans to boost the economic contribution of the industrial sector through its new industrial strategy. Rich-Joseph Facun / The National
UAE’s industrial strategy to help attract investment and create new jobs

Localising value chains in a region with high-value consumer markets is 'a natural next step'

EconomyMarch 24, 2021
Tristar has a fleet of more than 2,000 lorries and 35 maritime vessels. Image courtesy of Tristar
Logistics company Tristar to float on the Dubai Financial Market

The company is looking to raise as much as $160m through the sale of new shares

MarketsMarch 24, 2021
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, launched the unified industrial brand identity under the Make it in the Emirates slogan. Wam
Make it in the Emirates brand can deliver sizeable returns, experts say

New slogan seeks to encourage local and international investment in UAE industry

EconomyMarch 23, 2021
Mubadala is buying $75m in convertible pre-IPO bonds in social messaging app Telegram while Abu Dhabi Catalyst Partners will invest a further $75m. Reuters
Mubadala and Abu Dhabi Catalyst Partners invest $150m in Telegram app

The social messaging app has become increasingly popular following WhatsApp's user policy change and has more than 500 million active users

TechnologyMarch 23, 2021
Olive Rock Partners, based at Abu Dhabi Global Market, will look to capitalise on opportunities from the region's “developed market economics and emerging nation’s demographics”, founding partner Abdullah Shahin said. Alamy
Abu Dhabi Catalyst Partners becomes anchor investor in Olive Rock Partners

The Abu Dhabi Global Market-based private equity fund was founded by former Gulf Capital partners last year

BankingMarch 23, 2021
Amazon is doubling the number of fulfilment centres in Saudi Arabia this year, to six. Image courtesy of Amazon
Amazon to create 1,500 jobs in Saudi Arabia

E-commerce giant will have six fulfilment centres and 13 delivery stations across the kingdom by the end of this year

EconomyMarch 21, 2021
The Goldman Sachs company logo on the company's space on the New York Stock Exchange. Junior analysts have complained about working conditions at the bank, which made a net profit of $9.46bn last year. Reuters.
Junior Goldman Sachs analysts complain of working 98-hour weeks

Investment bank says it is 'taking multiple steps' to address concerns

BankingMarch 19, 2021
RAK , UNITED ARAB EMIRATES : July 8 , 2013 - Packing of the bottles in the J 1 unit at Gulf Pharmaceutical Industries in Ras Al Khaimah. In this J 1 unit they are making tablet and capsule medicine. ( Pawan Singh / The National ) . For Business.
Julphar pares losses with revenue hike

Drug maker says it has made 'significant progress' with transformation programme and has strengthened its management

MarketsMarch 19, 2021
A billboard in Manama, the capital of Bahrain, urges people to sign up for a voluntary vaccine. AFP
Gulf economies set for 'modest' recovery this year

GCC's non-oil economy forecast to grow at 3.1% following 4.1% contraction last year

EconomyMarch 19, 2021
Saudia has a fleet of 170 aircraft with an average age of five years. EPA
Saudi Arabian Airlines signs $3bn plane financing deal

Agreement to fund 73 new Airbus and Boeing aircraft is the largest in the company's history

AviationMarch 19, 2021
Only 43 per cent of companies surveyed by DP World expect trade flows to recover to pre-pandemic levels within two years. Bloomberg.
Pandemic prompts Middle East companies to reconfigure supply chains

Some 96% of companies in the region are looking to strengthen sourcing, DP World survey finds

EconomyMarch 17, 2021
Adnoc Distribution refurbished 100 of its Adnoc Oasis convenience stores in 2020. Image courtesy of Adnoc Distribution
Adnoc Distribution shareholders approve proposal to increase dividend

The company will pay out 20.57 fils per share for 2020, a 7.5% increase on the previous year

EnergyMarch 16, 2021
Olive Rock Partners, based at Abu Dhabi Global Market, will look to capitalise on opportunities from the region's “developed market economics and emerging nation’s demographics”, founding partner Abdullah Shahin said. Alamy
Abu Dhabi Global Market and Israeli company registrars sign pact

A 'large volume of business' between the two nations is expected, financial free zone's regulatory authority said

EconomyMarch 16, 2021
A customer changes money at a UAE Exchange branch. Most of the company's branches have been closed since March last year after the Central Bank of the UAE stepped in to oversee its operations. Pawan Singh / The National
Consortium bidding for Finablr in merger talks with Bahrain's BFC Group

Combining the two entities would create an organisation with licences to operate in 30 countries

MarketsFebruary 24, 2021
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