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      Michael Fahy

      Michael Fahy

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      Articles

      The Financial Conduct Authority's headquarters in London. The FCA said the Binance Group, the operator of the world's biggest cryptocurrency exchange, is not authorised to offer financial services in the UK. Reuters
      UK's financial regulator bans cryptocurrency exchange Binance

      Financial Conduct Authority says company cannot carry out any regulated activities

      MarketsJune 28, 2021
      Abu Dhabi-listed Arkan Building Material Company has received an offer from Senaat to combine its assets with Emirates Steel. Reuters
      IHC shares surge pushing Abu Dhabi stock market above Dh1tn

      Company is the now the biggest on the index, with a market capitalisation of more than Dh200bn

      MarketsJune 28, 2021
      LinkedIn will offer more than 2,000 young female Emiratis training for workplace skills in areas such as communication and technology. Getty
      UAE government partners with LinkedIn on skills programme for Emirati women

      More than 2,000 young people will receive training to prepare them for a rapidly changing workplace

      EconomyJune 27, 2021
      Mubadala-owned Yahsat may raise as much as $811m from its debut listing on the Abu Dhabi Securities Exchange in July. Yahsat
      Yahsat could raise up to $811m through IPO

      Abu Dhabi-based satellite company set to list shares on July 14

      MarketsJune 27, 2021
      A sign outside the IMF’s office in Washington. The fund expects the global economy to grow by 6 per cent this year. AFP
      IMF set to finalise plans for $650bn increase in reserves by August

      The boost in allocation of special drawing rights will be the largest in the fund's history

      EconomyJune 27, 2021
      3iQ chairman Frederick Pye rings the opening bell at Nasdaq Dubai's headquarters to mark the dual listing of the Canadian digital asset manager's Bitcoin Fund on the exchange. Courtesy: Nasdaq Dubai
      3IQ's Bitcoin Fund lists on Nasdaq Dubai

      Bookbuilding process for fund's regional offer awaits approval from the Dubai Financial Services Authority

      MarketsJune 23, 2021
      Khalifa Port in Abu Dhabi. Kizad’s green ammonia project will be powered by a solar plant. Abu Dhabi Ports
      Moody's assigns debut rating to Abu Dhabi's ADQ

      State holding company has direct and indirect investments in 90 companies

      EconomyJune 22, 2021
      Abu Dhabi tops the global rankings for liveability in the Middle East, followed by Dubai. Courtesy: DCT Abu Dhabi
      UAE was the world's 15th-biggest recipient of foreign investment last year

      The Emirates secured more capital from global investors than the UK in 2020

      EconomyJune 21, 2021
      Abu Dhabi Global Market. Authorities in the UAE and the UK have finished a two-week programme focused on tackling financial crime. AFP
      Abu Dhabi-based venture plans to fund $500m of mining projects in emerging markets

      Alphastream Partners is a joint venture between the UK's Portman Partners and Abu Dhabi Catalyst Partners

      BankingJune 21, 2021
      Saudi Aramco-branded oil tanks at its facility in Abqaiq. The company attracted 100 new investors through its first US dollar-denominated sukuk, which raised $6bn. Reuters
      Aramco raises $6bn through first US dollar sukuk sale

      The offer was hugely oversubscribed, with orders exceeding $60bn

      MarketsJune 17, 2021
      The City of London's skyline viewed from Greenwich Park in south east London. Prime Central London property prices rose 0.3 per cent in the first quarter of 2021 - their first increase for five years, according to Knight Frank. AFP
      Middle East buyers step up UK property purchases

      The market for prime property in central London is showing signs of a revival after a five-year slump

      PropertyJune 16, 2021
      Shoppers at Mall of the Emirates last month. Alain Bejjani, chief executive of mall owner Majid Al Futtaim, said the mall's footfall is 'almost' at pre-pandemic levels. Antonie Robertson / The National
      UAE's retail industry nearing pre-pandemic levels, Middle East's biggest mall operator says

      Sales in March were 9% higher than last year and just 3% below 2019 levels, according to Majid Al Futtaim

      BusinessJune 16, 2021
      Sir Tim Berners-Lee describes NFTs as "the ideal way to package the origins behind the web. Image courtesy of Sotheby's
      Father of the web to sell its source code as an NFT at Sotheby's

      Token that includes original time-stamped files and a letter reflecting on its creation is being sold by Tim Berners-Lee at an auction this month​​​​​​​​​​​​​​

      TechnologyJune 15, 2021
      Aldhay, the fifth phase of Bloom Gardens, will contain 181 townhouses. Image courtesy of Bloom.
      Bloom Holding begins work on fifth phase of its Bloom Gardens project in Abu Dhabi

      Aldhay community near Khalifa Park is set to complete by third quarter of 2023, developer says

      PropertyJune 13, 2021
      A street vendor selling products in El Salvador. The country passed a law on Wednesday allowing Bitcoin to be used as legal tender. Other emerging market nations are developing their own central bank digital currencies. EPA
      Central bank digital currencies a useful tool for emerging markets, but are not without risks

      Countries with the least credible fiscal or monetary policies in the EM universe face the threat of 'digital dollarisation', BofA Securities says

      BankingJune 13, 2021
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