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      Michael Fahy

      Michael Fahy

      Location

      Articles

      A new law has given the DIFC a broader remit. Sarah Dea / The National
      DIFC given broader remit under new law

      Companies allowed to market and supply products onshore so long as most of their business is conducted within the free zone

      BankingMay 06, 2021
      IHC is planning to list two more of its subsidiaries on the ADX during the second quarter after listing three companies on its secondary market at the end of last year. Reuters
      IHC's Q1 profit up more than 1,000% on acquisitions

      Abu Dhabi-based conglomerate is now the third-biggest company by value on the Abu Dhabi Securities Market

      MarketsMay 05, 2021
      Microsoft co-founder Bill Gates, co-chair of the Bill & Melinda Gates Foundation and a member of the Bloomberg New Economy Forum advisory board, speaks at the 2019 event in Beijing. Bloomberg
      Bloomberg's New Economy Forum to be held in Singapore

      The event will run from November 16-19 and be sponsored by Adnoc

      MarketsMay 05, 2021
      Monitors display Coinbase and Bitcoin signage in New York. There are a number of alternatives for investors to consider if they are worried that buying Bitcoin is too risky. Bloomberg
      Bitcoin purchases by central banks and sovereign funds is inevitable, Tyler Winklevoss says

      Gemini co-founder argues cryptocurrencies will also be more widely adopted by companies for treasury purposes

      MarketsMay 05, 2021
      The total trade in goods between Saudi Arabia and the US last year stood at 75.6 billion riyals ($20.2bn), according to the US-Saudi Business Council. Reuters
      Non-oil exports from Saudi Arabia to the US increase despite pandemic

      The kingdom exported $1.4bn worth of goods and services such as aluminium, chemicals and fertilisers last year

      EconomyMay 04, 2021
      Sotheby's will accept cryptocurrency as payment for Banksy's Love is in the Air, which will be auctioned at a contemporary art event on May 12. Image courtesy of Sotheby's
      Sotheby's to accept cryptocurrency as payment in Banksy auction

      Artist's Love Is In The Air has a guide price of $3m-$5m for auction set to take place on May 12

      MarketsMay 04, 2021
      Agthia, which owns the Al Ain, Bayan and Alpin water brands, is included in MSCI Small Cap Emerging Markets index. Sammy Dallal / The National
      Agthia continues to hunt for new deals as acquisitions boost profits

      Company reports 17% growth in revenue after Al Foah and Al Faysal integrations

      MarketsMay 04, 2021
      A drilling rig at an onshore field in Abu Dhabi.The company has standardised its terms for the procurement of drilling and oilfield goods and services. Courtesy Adnoc
      Adnoc simplifies tendering process by standardising legal terms

      More than 1,100 local and international companies have signed up to its new T&Cs

      EnergyMay 04, 2021
      Dubai. The UAE's economy is set to grow by 2.5 per cent this year and 3.5 per cent next year, according to estimates by the country's Central Bank. Getty
      UAE aims to double size of economy to Dh3tn by 2031, minister says

      Abdulla bin Touq says the country is pressing forward to accelerate economic recovery

      EconomyMay 02, 2021
      The Beirut Marathon used to attract almost 40,000 runners annualy. Getty Images
      S&P considers removing stocks of Lebanon's largest companies from indexes

      Shares of the country's top three lenders and largest property developer could be removed from the company's Emerging Markets and Pan Arab indexes

      MarketsMay 02, 2021
      Tarabut Gateway founder Abdulla Almoayed finds inspiration for his start-up from reading books. Antonie Robertson/The National
      Generation start-up: 'Black sheep' forges his own path to break down banking barriers

      Abdulla Almoayed's Tarabut Gateway raised $13m from investors in February to fund growth across the region

      TechnologyApril 29, 2021
      Abu Dhabi's Etisalat reported revenue of Dh13.2bn for the first quarter of 2021. Courtesy Etisalat
      Etisalat reports 8% first-quarter profit growth

      Subscriber numbers across its markets grew 4% to 156 million

      BusinessApril 28, 2021
      DSV Panalpina CEO Jens Bjorn Andersen says its purchase of Agility's Global Integrated Logistics arm will add more than 1.4 million sq m of warehousing space in the Middle East and Asia. Reuters
      Agility sells freight-forwarding arm to Denmark's DSV Panalpina

      All-share deal values unit at $4.1bn and gives Agility 8% stake in Danish company

      PropertyApril 27, 2021
      A currency exchange service in Istanbul last week, when the lira fell 3.9 per cent. The currency is 10.3% lower so far this year. EPA
      After flirting with record lows Turkish lira edges up

      Currency gains 1.1% in value on Monday but is still 10.3% lower so far this year

      EconomyApril 27, 2021
      ADGM Courts granted an order freezing asset sales by Mr Shetty and five of his companies. Ryan Carter / The National
      ADCB secures freezing order on BR Shetty's assets

      ADGM Courts allows for local and worldwide halt on sales of investments held in the emirate

      EconomyApril 26, 2021
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