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      Michael Fahy

      Michael Fahy

      Location

      Articles

      Emirates NBD started strategic rights issue to raise up to Dh6.45 billion to support its future growth. Chris Whiteoak / The National
      Emirates NBD completes deal for Turkey’s Denizbank

      The Dubai-based lender acquired a bank with 749 branches and 14,000 employees

      BankingJuly 31, 2019
      Emaar Malls said revenue for the full-year rose 5 per cent to Dh4.673bn. Bloomberg
      Emaar Malls Q2 revenue climbs 8 per cent

      Mall operator supported by strong footfall at Dubai Mall although profits slip slightly amid tough retail market

      PropertyJuly 31, 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 24 per cent increase in second quarter profits

      Jeddah bank reported a net profit of 2.69bn Saudi riyals

      BankingJuly 31, 2019
      If a sale of Dana Gas Egyptian assets were to go ahead, the proceeds of the sale would be used to pay down its sukuk. Jaime Puebla / The National
      Dana Gas confirms it is considering sale of Egyptian assets

      Company is focusing its efforts on developing reserves in Kurdistan

      EnergyJuly 30, 2019
      Abu Dhabi Commercial Bank says it expects the integration of three-way merger with UNB and Al Hilal Bank to conclude by the second quarter of next year. Courtesy ADCB
      ADCB records second quarter dip as lender presses on with merger integration

      Newly-combined entity's cost of funds increased, according to the bank

      BankingJuly 28, 2019
      Flamingo Villas units developed by RAK Properties within the Mina Al Arab community. Courtesy RAK Properties
      RAK Properties reports higher sales but increasing costs pinch profits

      Developer is reconfiguring the Anantara Mina Arab hotel to reduce the number of rooms on offer

      PropertyJuly 28, 2019
      An aerial view of Boeing 737 Max 8 aircraft sitting parked at Boeing Field in Seattle, Washington. EPA
      Boeing may halt 737 Max production

      Plane maker expects the aircraft to return to the skies by the fourth quarter of this year

      AviationJuly 25, 2019
      Adib said growth was supported by a 3.4 per cent increase in net customer financing. Dana Smillie for The National
      Abu Dhabi Islamic Bank's Q2 profits rise 10%

      Revenue and net profit for the first half of the year were both up 5.8 per cent year-on-year to Dh2.89bn and Dh1.23bn respectively

      BankingJuly 24, 2019
      Saudi Arabia is the biggest flour market in the Mena region. Bloomberg
      Saudi housing market shows signs of bottoming out

      Prices in key cities continue to fall but volume of deals spikes, says consultancy Knight Frank

      PropertyJuly 24, 2019
      Charles Crowell / The National
      Du calls up higher Q2 profit

      Dubai-based telecoms operator posts 2.5 per cent year-on-year increase in second-quarter profit after royalty payments

      MarketsJuly 23, 2019
      General view of Expo 2020 site under construction in Dubai South. Christopher Pike/The National
      Contracts for Expo 2020 themed pavilions to be awarded this year

      Contracts are part of a package of about Dh11 billion expected to be awarded this year

      EconomyJuly 31, 2017
      Yousuf Caires, vice president of Expo Live, said ideas for projects have also been submitted from the UAE. Ravindranath K/The National
      UAE ventures to improve lives receive expo initiative grants

      Smart Labour literacy app, ICBA water development and Ver2 medical education all benefit

      EconomyJuly 31, 2017
      Abdulrahman Al-Ghabban was appointed as Saudi Arabia country manager for the US-based construction company, Bechtel last month. Courtesy of Bechtel
      Bechtel digs for precious metal work in Saudi

      The US construction company is also overseeing some construction at Waad Al Shamal Industrial City

      EconomyJuly 29, 2017
      Tecom Group has been appointed to develop and run the Dh5bn park
      Tecom to develop and run Dh5bn Emirates Towers Business Park

      Business parks operator's acting COO Fareed Al Janahi chosen as project head

      PropertyJuly 24, 2017
      Emaar Properties' Dubai Creek Harbour project is one of the biggest developments currently under construction in Dubai. Renderings courtesy Emaar
      Value of UAE construction market edges up in first half

      Value of projects has increase 8 per cent to $228 billion

      PropertyJuly 24, 2017
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