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Michael Fahy

Michael Fahy

Location

Articles

Tablet computer for the blind takes grand prize

The Austrian company’s co-founder and chief executive Kristina Tsvetanova accepted a cash prize of US$15,000 at the end of the three-day event.

BusinessApril 04, 2017
Torsten Kolind, of Younoodle, says start-up founders need to persevere through challenges to survive. Reem Mohammed / The National
Foreign Direct Investment: Younoodle founder says access to markets will help regional start-ups to grow

'Very often, big companies and governments are looking at each other and ignoring all of the smaller companies, which deprives us of exactly that market opportunity that they need to break through.'

BusinessApril 04, 2017
The Moscow Exchange is forming what it calls an international alliance of financial centres, a non-profit financial information sharing organisation. Maxim Shemetov / Reuters
UAE foreign direct investment: Dubai and Moscow markets look to share financial information

Sergei Cheremin, the head of Moscow’s external economic and international relations department, said talks have been held over Dubai joining a non-profit initiative set up by Moscow to share financial market information.

BusinessApril 03, 2017
India’s plan to develop inter-city passages should improve investment opportunities in the country, it said. Channi Anand / AP Photo
Foreign direct investment: India has a vision of trade corridors

The country plans to develop infrastructure to connect major cities to encourage foreign investment.

BusinessApril 03, 2017
‘Low oil prices have caused a lot of difficulties with a lot of our clients – both public and private. In their construction activity, it’s affected their cash flow and cash availability, and it’s made the situation more difficult for us,’ said David Richter, the chief executive of Hill International, on a conference call to investors.
Hill International chief expects further shrinkage in Middle East operations in 2017

The project management company reported higher losses for 2016 as regional consulting fees declined and bad debt expenses increased.

PropertyApril 02, 2017
Arabtec proposed a restructuring that will see it raise Dh1.5 million through the issue of 1.5 million new shares. Reuters
Arabtec shareholders’ restructuring vote scheduled

Company proposes raising Dh1.5 million through new shares issue and is planning to raise more cash through the disposal of non-core assets.

PropertyApril 02, 2017
Apartment prices in the Burj Khalifa have dropped by 6.9 per cent in the last three months alone in Dubai. Satish Kumar / The National
Burj Khalifa apartments lose a quarter of their value in 12 months

The drop shows there is weaker demand for luxury residential units in Dubai's premium apartment and villa communities.

PropertyApril 02, 2017
Auditor warns on Drake & Scull’s future as contractor breaches terms of bank loans

The company's new chief executive is attempting to turn Drake & Skull around after it posted a Dh732.9m loss last year.

PropertyMarch 30, 2017
The US and UK have banned laptops on flights coming from Middle eastern countries, a move that Iata has decried. Lucas Jackson / Reuters
Laptop ban is ‘not acceptable’, says head of global airline group

Alexandre de Juniac says governments need to find a better way – and quickly.

BusinessMarch 29, 2017
Souq sale makes Emaar Malls investors happy shoppers

The confirmation by Souq.com that it was being acquired by Amazon meant that shares in Emaar Malls were one of the few significant climbers on the DFM.

MarketsMarch 28, 2017
Future of industry: New automotive city planned for site west of Abu Dhabi

The proposed new automotive district targeting car makers and dealers will stretch over a 12 square kilometre site just west of Abu Dhabi island.

BusinessMarch 28, 2017
The Chinese president Xi Jinping’s pro-globalisation speech given at the World Economic Forum in Davos in January was an example of the shifting attitudes between their respective governments towards global trade. Fabrice Coffrini / AFP
‘America first’ could lead to Gulf states turning eastwards

Under the US president Donald Trump’s push towards a refocus on trade protectionism, the world’s second-largest economy is in a position to take advantage globally. But it will require a new approach to forming international ties.

BusinessMarch 28, 2017
Trump’s strategy poses increased risks worldwide

US may find it hard to foster good terms with major economies.

BusinessMarch 28, 2017
The projects should connect Dubai’s Sheikh Zayed Road with other main arteries in the south-western part of the city. Jeffrey E Biteng / The National
RTA says new Dh1.2bn Dubai road contracts will improve links to Jebel Ali port

Contracts will ease congestion to and from Jebel Ali Port by boosting capacity on links to Sheikh Zayed Road, Mohammed Bin Zayed Road and Emirates Road

BusinessMarch 27, 2017
Depa said its profit turnaround could be chalked up to a growth in its margins, which more than doubled. Delores Johnson / The National
Depa weighs up unit sales in review as CEO considers new acquisitions

The contractor has also moved back into profit on significant improvement in margins.

PropertyMarch 26, 2017
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