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      Michael Fahy

      Michael Fahy

      Location

      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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