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Michael Fahy

Michael Fahy


Articles

The UAE has issued various regulations to fight money laundering and combat financing of terrorism. Sammy Dallal / The National
UAE and Egypt's central banks sign supervision agreement

The regulators will cooperate on overseeing acquisitions, licensing requests and the policing of financial crime

BankingJune 10, 2021
The number of women in the UAE enrolled in science, technology, engineering and mathematics courses rose to 41% in 2019-20, from 33% in 2018-19, according to Coursera. Getty
UAE ranked second globally for business skills

The nation's talent pool is second only to Luxembourg in areas such as leadership, management, entrepreneurship, strategy and operations, Coursera said

EconomyJune 09, 2021
Oil pipelines at Aramco’s Ras Tanura refinery in Saudi Arabia. Aramco's deal with the EIG-led consortium values its pipeline business at $25.3 billion. Bloomberg
Mubadala takes stake in Aramco pipelines venture

Abu Dhabi sovereign fund joins Washington-based GIC in $12.4bn purchase of a 49% stake in Aramco Oil Pipelines

MarketsJune 08, 2021
Moorfields Eye Hospital Abu Dhabi is one of 21 hospitals and health centres run by UEMedical. Courtesy Moorfields Hospital
Olive Rock Partners takes stake in UEMedical in debut deal

Private equity firm co-invests with Cerberus Capital in Abu Dhabi healthcare group with 21 hospitals and health centres

BusinessJune 08, 2021
Administrators of NMC Health have secured enough support from creditors for a financial restructuring of the business, which will wipe out some of its debt. Reuters
Creditors agree to restructure NMC Health

Lenders will receive equity instruments in the group in return for a reduction of its debt

EconomyJune 07, 2021
The UAE has issued various regulations to fight money laundering and combat financing of terrorism. Sammy Dallal / The National
UAE Central Bank sets up whistleblowing channel to report misconduct

Regulator sets up a secure platform on its website to report suspected wrongdoing, which allows for supporting evidence to be attached

EconomyJune 07, 2021
Inflows into sustainable funds in the first quarter of 2021 increased by 17 per cent to $185.3bn, according to Morningstar. Photo: Getty Images
Investors reassess priorities in wake of pandemic, UBS says

Eight in 10 UAE investors surveyed said they wanted to make a difference in the world

MoneyJune 06, 2021
Majid Al Futtaim will appoint a main contractor for the 16 billion riyal Mall of Saudi project in the coming months to allow a start on site in November, chief executive Alain Bejjani said. Majid Al Futtaim
Saudi Arabia's retail market 'more investable as more women enter workforce'

Dubai-based company plans to break ground on $4.26bn Mall of Saudi project by the end of this year

EconomyJune 06, 2021
ADCB said other potential bidders for Alexandria Medical Services are free to submit mandatory bids to Egypt's Financial Regulatory Authority after accepting a binding offer for its stake from TAT for Medical Services. Chris Whiteoak / The National
ADCB receives $41m bid for Egyptian healthcare company

The company acquired its stake in December from NMC Health founder B R Shetty

MarketsJune 01, 2021
A visitor shakes hands with Pepper the robot in Dubai. The UAE's four main financial regulators jointly published a consultation paper on proposed new rules governing the use of technology in financial services. Reem Mohammed / The National
DFSA sounds alarm on cryptocurrency fraud as UAE regulators consult on technology guidelines

Proposed guidelines issued by the four regulators cover everything from cloud server location to potential AI bias and identifying blockchain users

EconomyJune 01, 2021
KIB has agreed to cash in its loans to NMC Health at a deep discount before the outcome of a vote by creditors on the company's future. Bloomberg
Kuwait International Bank agrees to sell debt owed by NMC Health

Healthcare company's $74.11m of loans are being sold to an unnamed buyer for $13.25m

BankingMay 31, 2021
The Masaar Experience Centre will be built by ASGC alongside a show villa for the Dh8bn project within six months. Courtesy of Arada
Arada awards first contracts for Dh8bn Masaar project in Sharjah

Parsons appointed to carry out infrastructure design and ASGC will build an experience centre and show villa at the site

PropertyMay 30, 2021
Administrators of NMC Health have secured enough support from creditors for a financial restructuring of the business, which will wipe out some of its debt. Ravindranath K / The National
NMC's administrators set for new round of hearings in dispute with Dubai Islamic Bank

Alvarez and Marsal had sought power over securities held by the bank relating to insurance payments

BusinessMay 28, 2021
Adnoc Distribution completed its book building process for its combined offer at a price of Dh4.82 per share, 5.7% higher than its 3-month volume weighted average share price and less than 1 per cent below yesterday's closing price of Dh4.85. Courtesy Adnoc Distribution
Adnoc successfully completes $1.64bn combined share and bond offering

Offer was covered in less than an hour and 'saw significant demand from regional and international investors', the company says

MarketsMay 27, 2021
Murban, the owner of the St Regis Saadiyat Island and Al Wathba Luxury Collection desert resort, is being acquired by Alpha Dhabi. Image courtesy of IHC
Owner of St Regis Saadiyat Island sold in Dh1.7bn deal

Murban, which also owns the Al Wathba Luxury Collection desert resort, has been sold to IHC subsidiary Alpha Dhabi

MarketsMay 26, 2021
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