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Michael Fahy

Michael Fahy


Articles

Arabtec Holding is in talks with Trojan Holding about a potential merger of their construction businesses. Silvia Razgova / The National
Arabtec weighs merger with Abu Dhabi contractor Trojan Holding

Companies are reviewing operations to see whether a deal makes sense

PropertySeptember 10, 2019
Guests gather during the commemoration of the world’s largest fixed oilfield platforms at the NPCC Campus in Musaffah in Abu Dhabi in June 2019. ( Pawan Singh / The National)
Abu Dhabi's NPCC signs collaboration deal with Chinese contractors

Company will work with CPECC and CNCEC on potential projects both at home and in China

EnergySeptember 09, 2019
Neom chief executive Nadhmi Al-Nasr (left) signs contracts for the city's new construction village with Al-Tamimi Group and SATCO. Courtesy Neom
Saudi Arabia's Neom signs deals with contractors for construction village

Al Tamimi Group and Satco will build accommodation for up to 30,000 workers

PropertySeptember 09, 2019
Image of the Yas Village project being developed by Miral at Yas Island. The project's Dh625 million first phase is due for completion next year. Courtesy Miral
Miral secures backing for Yas Village scheme

Steppe Capital has invested in phase one of affordable housing scheme

PropertySeptember 08, 2019
Image of the Satorp refinery at Jubail Industrial City in Saudi Arabia. Technip FMC handled the refinery's engineering design. Courtesy of Technip FMC.
TechnipFMC to split into two companies with downstream business spun off

Downstream business SpinCo will have revenue of $6bn and 15,000 employees

EnergySeptember 08, 2019
Emirates NBD has earned £305m through an additional stake sale in payments processor Network International. Chris Whiteoak / The National
Emirates NBD earns Dh1.38bn through Network International stake sale

Analysts believe rights issue is still on the cards to boost capital following Denizbank deal

BankingSeptember 05, 2019
Abu Dhabi Global Markets Courts will offer a service for financially-stressed clients through both a new Pro Bono office in Abu Dhabi Global Markets Square and a dedicated helpline. Photo: Alamy
Abu Dhabi Global Market issues new guidelines on digital assets

The rules provide advice on initial offerings, listing and trading of tokens and other securities

TechnologySeptember 05, 2019
National banks attracted more deposits in the UAE in 2018 than foreign banks. Chris Whiteoak / The National
UAE banks grow deposits by 8% in 2018 to Dh1.76tn

Assets at conventional banks grow faster than at Islamic lenders

BankingSeptember 04, 2019
The British pound rebounded back above $1.21 early on Wednesday morning after dropping below $1.20 on Tuesday. AFP
Pound recovers after MPs move to block no-deal Brexit

The trade cost of a no-deal Brexit to the UK could be more than $16bn according to UNCTAD

EconomySeptember 04, 2019
The Lebanese cabinet met on Monday in Baabda with a view to finding solultions to the country's economic crisis. AP
Hariri says Lebanon to declare economic emergency to tackle deficit

Prime Minister Saad Hariri says country will declare an "economic emergency" to tackle its deficit

EconomySeptember 03, 2019
The Kingdom Tower in Riyadh. Saudi Arabia's non-oil economy grew in August, with confidence among bosses at a three-month high, driven by expectations of stronger demand. Bloomberg
Saudi non-oil economy grows in August on new orders and exports

Confidence among businesses for the year ahead hit a three-month high as demand outlook proves bullish

EconomySeptember 03, 2019
Arjun Mohan set up Tenderd in May 2018 to match companies with spare equipment to rent with those looking to hire. Reem Mohammed/The National
Generation Start-Up: Tenderd wants contractors to stop digging around for equipment

An online marketplace for construction equipment raises $5.8m from Silicon Valley bigwigs within months of setting up

EconomySeptember 02, 2019
View of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia. Lender Apicorp managed an increase in first half interest income despite challenging market conditions. Reuters
Apicorp records 36% increase in interest income in 'challenging' market

Net profit is 53% lower than in 2018 when it made a one-off gain from an asset sale

BankingSeptember 02, 2019
Mars became one of the first major mutlinationals to take advantage of the UAE's new foreign direct investment law to buy out its local partner. Getty Images
Confectionery giant Mars takes 100% ownership of UAE business

Company buys out local partner following last year's law change allowing complete ownership of onshore firms

EconomyAugust 29, 2019
Occupancy in index tower has increased by 18 per cent, Emirates Reit's management said in its third quarter results statement. Antonie Robertson / The National
Emirates Reit to embark on Dh200m property buying spree

Deals are expected to be concluded within the next six months

PropertyAugust 29, 2019
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