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      Michael Fahy

      Michael Fahy

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      Articles

      Protests outside the parliament building in Tunis on Monday after President Kais Saied suspended parliament and dismissed Prime Minister Hichem Mechichi on Sunday. AFP
      Political unrest in Tunisia could hamper economic recovery efforts

      The country's debt stands at about 90% of its GDP, with about two thirds of this denominated in foreign currencies

      BusinessJuly 27, 2021
      Bitcoin has gained more than 20 per cent in value over the past seven days, despite a slump last Tuesday which dragged it below $30,000. Reuters
      Bitcoin surges towards $40,000 mark on Amazon rumours

      World's biggest cryptocurrency was up 13% in early trading on Monday morning

      MarketsJuly 26, 2021
      Hub71 on Al Maryah Island in Abu Dhabi. UK-based Callsign expects to have 100 staff at its regional base within Hub71 by the end of the year. Courtesy Hub71
      Abu Dhabi Investment Office provides $24.5m to boost growth of tech companies

      Innovation Programme backing brings the level of support provided to businesses in the sector this year to more than $235m

      BusinessJuly 26, 2021
      A trader crosses the floor at the Abu Dhabi Securities Exchange, whose value is up 40% so far this year. Reuters
      Mena equity fund raising more than doubles in first half

      Adnoc Distribution's issue of new shares and convertible bonds drove activity

      MarketsJuly 25, 2021
      BR Shetty is seeking $7bn in damages in a New York court, alleging former directors of NMC Group companies committed a "massive financial fraud". Reuters
      NMC founder BR Shetty seeks $7bn in damages from former banks, auditors and directors

      Lawsuit filed in New York alleges six-year conspiracy to hide the true state of the group's finances

      BusinessJuly 22, 2021
      FTX Trading, a US-based company that built a cryptocurrency derivatives exchange, received backing from more than 60 funders in its Series B round. AFP
      Cryptocurrency exchange FTX Trading valued at $18bn after its largest funding round

      Two-year-old company secures $900m from some of Silicon Valley's best-known investors

      CryptocurrenciesJuly 21, 2021
      The outside of the Nasdaq market site in New York. Reuters
      Nasdaq to spin out private market in joint venture with major banks

      New platform will serve a 'large and growing' need for trading private company shares

      MarketsJuly 20, 2021
      Bitcoin investment funds have attracted more than $25.7bn from investors since the start of this year, according to CoinShares. Reuters
      Bitcoin sinks to below $30,000 in latest sell-off, wiping $100bn from crypto market

      World's biggest cryptocurrency loses 5.8 per cent of its value on Tuesday and is 53.4 per cent below its all-time high

      CryptocurrenciesJuly 20, 2021
      An electronic billboard shows the sell-off in shares on Hong Kong's Hang Seng Index on Monday as markets around the world faced similar issues. AP
      Markets fall on Covid-19 concerns

      FTSE 100 index falls 2.34% on 'Freedom Day' as rising infection rates disrupt operations

      MarketsJuly 19, 2021
      Robinhood had 22.5m funded accounts as of June 30, a 130% increase on the same period last year. Reuters
      Robinhood could be valued at $35bn through Nasdaq listing

      Popular share trading app had 22.5 million funded customer accounts as of June 30

      MarketsJuly 19, 2021
      Dubai Healthcare City, where French biopharmacy company Ipsen has opened its Middle East and Africa headquarters. Jeffrey E Biteng / The National
      French biopharmacy company Ipsen targets Middle East growth with new Dubai base

      Healthcare City office will kick-start operations and serve demand in fields such as oncology and neuroscience

      EconomyJuly 19, 2021
      Dubai Islamic Bank is owed $425 million by healthcare group NMC, which was placed into administration last year. Reuters
      Dubai Islamic Bank wins latest round of ongoing legal tussle with NMC's administrators

      Case goes to arbitration with administrators ordered to pay 75% of the lender's costs to date

      BankingJuly 18, 2021
      The Red Sea Development Company raised $3.76bn in green funding in April. Image courtesy of TRSDC.
      Sustainable debt market set to top $1tn this year

      Sustainability-linked debt issuance reached $680bn in the first six months, more than double the amount in the first half of 2020

      BankingJuly 16, 2021
      Dave Ashish, former chief financial officer at Abraaj Group. Courtesy Antonie Robertson
      Dubai's DFSA hands down $1.7m fine to former Abraaj Capital chief financial officer

      Ashish Dave was 'knowingly involved' in deceiving investors over the use of money in Abraaj funds, Dubai Financial Services Authority says

      BankingJuly 14, 2021
      The NMC Specialty Hospital complex in Abu Dhabi. The company's joint administrators will begin legal action against former directors once restructuring is complete. Reuters
      NMC Health's administrators to pursue claims once restructuring is complete

      Alvarez & Marsal has already been preparing cases against the company's former directors and its auditor

      EconomyJuly 12, 2021
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