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      Michael Fahy

      Michael Fahy

      Location

      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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