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Michael Fahy

Michael Fahy


Articles

The Abu Dhabi Local Content programmme began in April last year and by the end of last year 3,238 companies had received in-country value certification. Christopher Pike / The National
Abu Dhabi government awarded $1.25bn of tenders to local companies in 2020

Local Content performance report shows 17 public sector bodies awarded 152 tenders to companies based in the emirate

BusinessJuly 10, 2021
Dubai welcomed 5.5 million domestic visitors between July 2020 and May 2021, compared to 2.66 million in the previous 12 months. Image courtesy of Dubai Tourism.
Rebound of Dubai's tourism sector 'gathering pace', Crown Prince says

The emirate welcomed 2 million visitors between January and May

Travel and TourismJuly 06, 2021
Aldar's sustainability-linked loan from HSBC will see the interest margin paid by the company change according to how well it does in meeting targets. Christopher Pike / The National
Aldar secures Dh300m sustainable loan from HSBC

Interest margin will be adjusted based on meeting targets for energy and water use, waste recycling and worker welfare

PropertyJuly 05, 2021
Nicky Daryani (right) had set up a single family office to invest in a range of assets, including start-ups, but was taken by the potential of the Deposit Book idea. Pawan Singh / The National.
Generation Start-up: Deposit Book matches cash-hungry banks with savers hunting for yields

FinTech helps corporate and institutional treasurers earn a better return on money by parking it with global banks paying higher interest rates than local institutions

Start-UpsJuly 04, 2021
A trader crosses the floor at the Abu Dhabi Securities Exchange, whose main market index is up 36.8% this year. Reuters
Abu Dhabi's stock market continues bull run

ADX closed the week up 4.9%, taking its year-to-date gains to 36.75%

MarketsJuly 02, 2021
A woman serves customers at a supermarket in Riyadh. The unemployment rate among female Saudi citizens was 7 per cent lower in the first quarter than in the same period last year. Reuters
Unemployment among Saudi nationals continues to fall

Rate of joblessness among women continues to decline

EconomyJune 30, 2021
Dubai Chamber's building in Deira. The chamber has been restructured into three entities - Dubai Chamber of Commerce, Dubai International Chamber and the Dubai Chamber of Digital Economy. Courtesy of Dubai Chamber
Leading lights of Dubai's technology scene recruited to Digital Economy chamber's board

An advisory council of more than 40 members includes Telegram co-founder Pavel Durov and Bayt.com founder Rabea Ataya

EconomyJune 30, 2021
Diners at Wat Phra Singh on market night in Chiang Mai, Thailand. Asian sauces and condiments account for 50 per cent of a global market worth $130bn, according to Investcorp. Courtesy iStockphoto.com
Investcorp fund takes stake in Asian sauce maker

Heritage Foods owns established brands in Japan, Singapore and Malaysia

BusinessJune 30, 2021
The Riyadh skyline. Saudi Arabia opened up its healthcare sector to 100 per cent foreign ownership in August 2017 to meet growing demand for a range of healthcare services. Reuters
Johnson & Johnson's pharma arm signs deal with Saudi Arabia's Ministry of Investment

The pair will work on initiatives to improve the business environment in the healthcare and life sciences sectors

EconomyJune 30, 2021
The Fed meeting and reversal in their policy outlook triggered the drop in gold prices. Photo: Reuters
UAE Central Bank issues guidance to lenders working with property and precious metals dealers

Regulator spells out risks associated with financing of high-value assets that can be used to launder money

BankingJune 29, 2021
Amazon has installed more than 5,000 solar panels on the rooftop of its biggest fulfilment centre in the UAE, DXB3. Image courtesy of Amazon
Amazon commits to using more renewable energy as it sets out regional sustainability roadmap

The company has installed more than 5,000 panels on the rooftop at its biggest fulfilment centre in the UAE

EnergyJune 29, 2021
Visitors to Dubai Mall take pictures of the Burj Khalifa in Downtown Dubai, the district developed by Emaar Properties. Chris Whiteoak / The National
Emaar expects about $2.2bn in earnings this year

Company issues guidance after outline projections by credit rating agency

PropertyJune 29, 2021
Trading on ADX, which is owned by state holding company ADQ, has increased notably this year. Reuters
Alpha Dhabi shares jump 13% as Abu Dhabi bourse's market value surges to $313bn​​​​​​​

Emirate's stock market has gained 33.8% this year

MarketsJune 29, 2021
An Emaar-branded high-rise building in Dubai. S&P Global Ratings expects the company to hand over 6,000 units this year and close to 10,000 in 2022, based on its project pipeline. Chris Whiteoak / The National
Emaar Properties plans to issue benchmark sukuk as Dubai real estate market improves

Company appointed Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank, Mashreq Bank and Standard Chartered Bank as joint lead arrangers

PropertyJune 28, 2021
CloudCare operates a price comparison site, Comparasemplice.it, allowing customers to compare prices for energy, telecoms, insurance and other services. Getty
Investcorp buys tech-enabled sales and marketing channel

Italy's CloudCare works with companies such as Eni, Tiscali and insurer Metlife

TechnologyJune 28, 2021
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