The Yahsat stand at Idex 2023. The new government mandate increases Yahsat’s contracted future revenue to Dh25.7 billion. Khushnum Bhandari / The National
The Yahsat stand at Idex 2023. The new government mandate increases Yahsat’s contracted future revenue to Dh25.7 billion. Khushnum Bhandari / The National
The Yahsat stand at Idex 2023. The new government mandate increases Yahsat’s contracted future revenue to Dh25.7 billion. Khushnum Bhandari / The National
Al Yah Satellite Communications, better known as Yahsat, said on Friday that its government services arm has been awarded a Dh18.7 billion ($5.1 billion) 17-year services mandate by the UAE to provide satellite capacity and managed services.
The deal covers operations, maintenance and technology management services of ground segment satellite systems and terminals currently provided under a separate contract.
The mandate will replace two current agreements, which come to an end in November and December 2026, respectively.
Yahsat, a subsidiary of Abu Dhabi’s sovereign investment arm Mubadala Investment Company, offers multi-mission satellite services in more than 150 countries across Europe, the Middle East, Africa, South America, Asia and Australasia.
Under the new mandate from the UAE government, Yahsat will provide services using its Al Yah 1 and Al Yah 2 satellites, currently in orbit, and supplement this by two new satellites, Al Yah 4 (AY4) and Al Yah 5 (AY5), which are expected to be launched in 2027 and 2028, respectively.
"This award is a testament to our long-standing relationship with the government ... by complementing our existing fleet with Al Yah 4 and Al Yah 5 next generation satellites, we will be able to serve the government with new cutting-edge solutions that are not currently possible," said Musabbeh Al Kaabi, chairman of Yahsat.
"The performance of the new satellites is expected to significantly surpass current industry capabilities including capacity, coverage and flexibility, allowing us to offer a wide range of next generation applications to our end user."
The new mandate increases Yahsat’s contracted future revenue to Dh25.7 billion, more than 16 times its 2022 annual revenue, and extends backlog well beyond 2040, while boosting the company's future cash flow.
"This is a new chapter in Yahsat’s momentous journey .... our financial position has never been stronger," said group chief executive Ali Al Hashemi.
"We remain optimistic about providing a broader, more diverse and cutting-edge solutions portfolio to both the government and our customers."
Last month, Abu Dhabi Securities Exchange-listed Yahsat, reported a 5 per cent rise in its first-half income, boosted by the strong performance of its infrastructure business. Normalised profit for the six-month period to the end of June climbed to $48 million, the company said.
In June, Yahsat signed an agreement with Airbus for the construction of AY4 and AY5.
The AY4 and AY5 procurement, including spacecraft, ground segment infrastructure, launch and insurance, will be funded by Yahsat’s own resources, in addition to other potential funding options and an advance payment from the government of $1 billion, to be received in 2024, the company said.
The company currently has five satellites that extend its reach to more than 80 per cent of the world’s population, enabling critical communications such as broadband connectivity, broadcasting and mobility solutions.
In May, Bayanat, a geospatial data products and services provider, and Yahsat launched a space programme aimed at building national satellite remote sensing and Earth observation capabilities within the UAE.
The space programme will look for business opportunities in the local and global Earth observation market, Bayanat said in a statement to the ADX at the time.
The Two Popes
Director: Fernando Meirelles
Stars: Anthony Hopkins, Jonathan Pryce
Four out of five stars
10 tips for entry-level job seekers
Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
Last-16 Europa League fixtures
Wednesday (Kick-offs UAE)
FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm
Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm
Inter Milan v Getafe (one leg only) 11pm
Manchester United (5) v LASK (0) 11pm
Thursday
Bayer Leverkusen (3) v Rangers (1) 8.55pm
Sevilla v Roma (one leg only) 8.55pm
FC Basel (3) v Eintracht Frankfurt (0) 11pm
Wolves (1) Olympiakos (1) 11pm
Notable salonnières of the Middle East through history
Al Khasan (Okaz, Saudi Arabia)
Tamadir bint Amr Al Harith, known simply as Al Khasan, was a poet from Najd famed for elegies, earning great renown for the eulogy of her brothers Mu’awiyah and Sakhr, both killed in tribal wars. Although not a salonnière, this prestigious 7th century poet fostered a culture of literary criticism and could be found standing in the souq of Okaz and reciting her poetry, publicly pronouncing her views and inviting others to join in the debate on scholarship. She later converted to Islam.
Maryana Marrash (Aleppo)
A poet and writer, Marrash helped revive the tradition of the salon and was an active part of the Nadha movement, or Arab Renaissance. Born to an established family in Aleppo in Ottoman Syria in 1848, Marrash was educated at missionary schools in Aleppo and Beirut at a time when many women did not receive an education. After touring Europe, she began to host salons where writers played chess and cards, competed in the art of poetry, and discussed literature and politics. An accomplished singer and canon player, music and dancing were a part of these evenings.
Princess Nazil Fadil (Cairo)
Princess Nazil Fadil gathered religious, literary and political elite together at her Cairo palace, although she stopped short of inviting women. The princess, a niece of Khedive Ismail, believed that Egypt’s situation could only be solved through education and she donated her own property to help fund the first modern Egyptian University in Cairo.
Mayy Ziyadah (Cairo)
Ziyadah was the first to entertain both men and women at her Cairo salon, founded in 1913. The writer, poet, public speaker and critic, her writing explored language, religious identity, language, nationalism and hierarchy. Born in Nazareth, Palestine, to a Lebanese father and Palestinian mother, her salon was open to different social classes and earned comparisons with souq of where Al Khansa herself once recited.
Maros Sefcovic is juggling multiple international trade agreement files, but his message was clear when he spoke to The National on Wednesday.
The EU-UAE bilateral trade deal will be finalised soon, he said. It is in everyone’s interests to do so. Both sides want to move quickly and are in alignment. He said the UAE is a very important partner for the EU. It’s full speed ahead - and with some lofty ambitions - on the road to a free trade agreement.
We also talked about US-EU tariffs. He answered that both sides need to talk more and more often, but he is prepared to defend Europe's position and said diplomacy should be a guiding principle through the current moment.
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
Research equivalent Airbnb homes in your location to ensure competitiveness.
Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
