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Michael Fahy

Michael Fahy


Articles

Drake & Scull International says its negative equity position had improved to Dh4bn by the end of last year, compared to Dh4.7bn a year earlier. Rich-Joseph Facun / The National
Dubai's Drake & Scull issues rebuttal to ex-head Tabari's claims

Company says criminal charges have been filed against Khaldoun Tabari and daughter Zeina in Jordan

MarketsFebruary 17, 2020
Investcorp has about $6.4bn worth of private equity assets under management. About 22 per cent of that is in its Middle East, North Africa and Turkey portfolio, company's Mena head of private equity, Walid Majdalani, said. Chris Whiteoak / The National
Investcorp plans second regional private equity fund following its HarbourVest deal

Alternative asset manager is initially targeting a size of $300m to $500m for the investment vehicle

EconomyFebruary 17, 2020
Leon Black's Apollo Global Management has $331 billion worth of assets under management, $77bn of which is in private equity. Image courtesy of Milken Institute
Markets ‘have become more punitive’ for firms that miss earnings targets

Apollo Global Management has spent about $18bn in recent years on 14 public-to-private deals

MarketsFebruary 15, 2020
The Middle East is the fifth-biggest region globally for the number of very high net-worth individuals, with a 2.8 per cent global share, says Wealth-X. Alamy Stock Photo
Growth rate of new multimillionaires slows in the Middle East

The number of people with wealth of between $5m and $30m edges up by 1 per cent, says Wealth-X

MoneyFebruary 15, 2020
SoftBank reported a 92 per cent fall in net profit to 55 billion Japanese yen for the three months to December 31, 2019. Reuters
SoftBank Vision Fund manager defends investment record

SoftBank Investment Advisers chief executive Rajeev Misra says the company's portfolio 'is doing really well'

TechnologyFebruary 13, 2020
A customer uses a QR code on a mobile phone to pay for purchases. Bloomberg
Banks need 'a sense of paranoia’ about tech giants

Tech giants already have established customer bases and trust in their brands, says StanChart regional head

BankingFebruary 13, 2020
Abdulla Al Zamil (centre) says the Saudi economy went through "tough years" in 2017 and 2018 but began to pick up late last year. Chris Whiteoak / The National
Saudi Arabia's economy at 'inflection point' says leading industrialist

Entertainment, and tourism part of several new sectors that will contribute to GDP growth says Zamil Industrial head

EconomyFebruary 12, 2020
Michael Milken, Chairman of the Milken Institute, left, speaks to Khaldoon Al Mubarak, chief executive of Mubadala Investment Company, during the 2020 Milken Institute Middle East and Africa Summit. EPA
Mubadala to raise investment in medical technology and life sciences

The company is pivoting to the technology industry as it repositions its portfolio of assets

EconomyFebruary 11, 2020
The Milken Institute's MEA summit attracts a broad range of speakers from the worlds of business, finance, politics, sports and entertainment. Paul Kagame, President of Rwanda, speaks during the last year's event in Abu Dhabi. Pawan Singh / The National
Milken Institute to focus on health and well-being at Abu Dhabi summit

Speakers will include wellness expert Deepak Chopra, Bridgewater Associates founder Ray Dalio, former speaker of the US House of Representatives Paul Ryan and footballer Paul Pogba

EconomyFebruary 11, 2020
The UAE economy grew at an accelerated pace in 2019, driven by the OPEC country's oil industry. Getty Images
Excess supply makes Dubai property market affordable for renters and buyers

Savills expects about 40,000 new homes to be delivered this year but says pipeline shows signs of slowing

PropertyFebruary 11, 2020
An NMC Speciality Hospital in the UAE. The company's administrators have appointed a new board whose priority will be to "implement corporate governance changes" at the UAE's biggest healthcare operator. Reuters
KKR and GK Investment prepare bids for under-fire NMC Health

The healthcare company founded by Indian businessman BR Shetty said it had been 'incorrectly' informed about holdings of significant shareholders

MarketsFebruary 10, 2020
An Airbus A321 jet with an Air Arabia livery. The Sharjah-based carrier increased its average passenger load factor in the fourth quarter of 2019 by 2 per cent to 81 per cent. Image courtesy of Air Arabia.
Air Arabia makes Dh1bn in profit in 2019

Figure is an 80 per cent increase on adjusted profit made a year earlier, low-cost carrier says

AviationFebruary 09, 2020
A Kuwaiti trader follows stock prices at the Boursa Kuwait stock market in January. Kuwait's stock market will be upgraded from frontier to emerging market status in May by index provider MSCI. AFP
Boursa Kuwait launches new index to encourage trading in main market shares

BK Main 50 index comprises the 50 most-actively traded shares in subsection of the market

MarketsFebruary 09, 2020
Khaldoun Tabari, the former CEO of Drake and Scull, denies all of the charges that have been filed against him. Ravindranath K / The National
'I'm victim of a smear campaign' says ex-Drake & Scull head

'Unfounded' allegations against him should be treated as commercial claims, not criminal cases, says the former DSI chief executive​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

PropertyFebruary 06, 2020
Drake & Scull International says its negative equity position had improved to Dh4bn by the end of last year, compared to Dh4.7bn a year earlier. Rich-Joseph Facun / The National
Drake & Scull and Khaldoun Tabari: How did we get here?

The company's claims against Khaldoun Tabari and other former managers go all the way back to its IPO in 2008

PropertyFebruary 06, 2020
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