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      Michael Fahy

      Michael Fahy

      Location

      Articles

      Zain Group's vice-chairman and chief executive, Bader Al-Kharafi, says the company will be offering %g services in 26 Saudi cities by the end of the year. Courtesy Zain Group.
      Zain in 'a much stronger' position as third quarter net profit doubles in Saudi unit

      Zain Saudi Arabia chief says company's market capitalisation has doubled over the past 12 months

      TechnologyOctober 26, 2019
      Beco Capital co-founders Amir and Dany farha, who run the business alongside fellow managing partner Yousef Hammad. Courtesy Beco Capital.
      Venture capital firm Beco raises $100m through second fund

      The amount raised exceeds the company's initial target by $20m

      TechnologyOctober 24, 2019
      National Commercial Bank is expected to further extend its lead as the largest bank in Saudi Arabia after the merger with Samba Financial Group. Michael Bou-Nacklie / The National
      NCB reports 20 per cent increase in third quarter profit

      Lender "has been able to keep rates pressure at bay", analyst says

      BankingOctober 24, 2019
      A protester waves a Lebanese flag alongside a barbed wave set up to protect the government palace in downtown Beirut. Lebanese Prime Minister Saad Hariri announced a series of economic measures adopted by the government and approved the 2020 budget without any new taxes.EPA
      Lebanese economy still under pressure despite budget approval

      Proposed taxes on banks would be credit-negative, says Moody's analyst

      EconomyOctober 24, 2019
      A miner works in the Al Amar gold mine, southwest of Riyadh. The mining and quarrying sector made up 30.1 per cent of the kingdom’s nominal gross domestic product in 2018. Reuters
      Saudi government works to make mining sector more attractive to investors

      About $13bn of private sector investment needed to exploit opportunities, says US-Saudi Business Council report

      EconomyOctober 23, 2019
      The UAE economy grew at an accelerated pace in 2019, driven by the OPEC country's oil industry. Getty Images
      Gulf countries must spend $1.6 trillion to develop infrastructure

      Rapidly-growing population and ambitious visions require higher levels of investment, report by Oliver Wyman says

      PropertyOctober 21, 2019
      Lending to the residential real estate sector stood at Dh243.5 billion in 2018, according to the UAE Banking Federation. Reem Mohammed / The National
      Enquiries into Dubai property dips among Chinese buyers, Juwai finds

      Number of enquiries recorded by portal Juwai.com falls 15.3 per cent year-on-year

      PropertyOctober 19, 2019
      FAB maintained a strong balance sheet amid challenging market conditions. Chris Whiteoak / The National
      Sukuk market flat over first nine months of 2019, says Fitch

      Sukuk issuance with a maturity longer than 18 months reached $30.6bn in the year to September

      MarketsOctober 17, 2019
      Al Waha Fund of Funds director Areije Al Shakar says Bahrain "has acted as a bridge between East and West for thousands of years". Courtesy Al Waha Fund of Funds
      Bahraini venture investor takes stake in Chinese fund

      MSA Capital says it will set up a regional base in Bahrain following investment in its $250 million fund

      TechnologyOctober 15, 2019
      A hyperloop pod displaying the Indian flag at Virgin Hyperloop One - DP World Consortium's test facility.
      Hyperloop project backed by Indian state of Maharashtra

      State government names Hyperloop One-DP World consortium as proponent for planned Pune-Mumbai link

      TechnologyOctober 14, 2019
      Gross rental yields for Abu Dhabi apartments currently stand at 7.7% for apartments and 6.6% for villas. Mona Al Marzooqi / The National
      Abu Dhabi property yields increase as prices fall faster than rents

      Office sector still sluggish but hotels market shows signs of recovery

      PropertyOctober 14, 2019
      The new Al Khomra logistics zone will be linked to Jeddah Islamic Port. (Salah Malkawi/ The National)
      Saudi Ports Authority launches 2m sq m logistics zone in Jeddah

      Half of the land within the zone will be offered to investors through leases

      PropertyOctober 13, 2019
      Saudi Araiba only has one long-term care bed per 130,000 people. Getty Images
      Saudi government looks to PPP to fill gap in long-term care provision

      Knight Frank Report says shortfall for acute care is at least 9,000 beds

      PropertyOctober 13, 2019
      Staff from the new Mazoon Dairy in Oman in front of a new flaring tower for the facility's biogas plant. The plant will start production by the end of the month and aims to produce more than 200 million litres of dairy products by 2026. Courtesy Mazoon Dairy Company
      New Omani dairy farm to convert cow dung into biogas

      The Dh995m Mazoon Dairy facility will begin milk production this month

      EnergyOctober 13, 2019
      Delegates look at an Etihad Rail poster. The national rail network will connect Fujairah and Khorfakkan on the UAE’s east coast to the UAE’s border with Saudi Arabia at Ghuweifat. Pawan Singh / The National
      Etihad Rail awards Dh1.6bn systems contract

      Hitachi Rail will be responsible for the network’s power distribution and electronics subsystems

      EconomyOctober 09, 2019
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