{"id":99332,"date":"2025-01-06T00:00:00","date_gmt":"2025-01-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-space42-launches-thuraya-4-satellite-new-perks-for-dubai-newlyweds-and-mothers\/"},"modified":"2025-01-06T00:00:00","modified_gmt":"2025-01-06T00:00:00","slug":"this-morning-space42-launches-thuraya-4-satellite-new-perks-for-dubai-newlyweds-and-mothers","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/01\/06\/this-morning-space42-launches-thuraya-4-satellite-new-perks-for-dubai-newlyweds-and-mothers\/","title":{"rendered":"THIS MORNING: Space42 launches Thuraya 4 satellite + New perks for Dubai newlyweds and mothers"},"content":{"rendered":"

Good morning everyone, and a very happy new year.<\/strong> We hope you all got a chance to unwind before the first full workweek of the year. We have plenty of news to sift through from the past few days, and a lot of fresh data out on economic performance \u2014 and, of course, the property market \u2014 over the past year, so let\u2019s dive in. <\/p>\n

ALSO- Don\u2019t miss our roundup of all the new laws, regulations, taxes, and fees taking effect in the new year <\/strong>in the news well, below. <\/p>\n

\u2600\ufe0f WEATHER- It\u2019s another crisp day in the UAE<\/strong>, with sunny and slightly windy conditions across the emirates, according to the National Center of Meteorology (pdf)<\/a>. The mercury in Dubai will reach 23\u00b0C, with a low of 17\u00b0C, and will peak at 21\u00b0C in Abu Dhabi, before also dropping to 17\u00b0C.<\/p>\n

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A few important milestones to note before getting underway: <\/strong><\/p>\n

<\/a> #1- Abu Dhabi sovereign wealth fund Mubadala trumped Saudi Arabia\u2019s Public <\/strong>Investment Fund to become the world\u2019s most active sovereign wealth fund in 2024<\/strong>, deploying USD 29.2 bn across 52 investments, according to consultancy firm Global SWF<\/a> \u2019s annual report (pdf)<\/a>. <\/p>\n

The Abu Dhabi-based fund\u2019s investments rose 67% y-o-y<\/strong>, the report stated, deposing PIF, which saw a 37% cut in spending and a pivot towards domestic investment, Reuters reported<\/a>.<\/p>\n

Behind the rise:<\/strong> Expansion across regions and industries drove the growth, alongside investments through its subsidiaries like Abu Dhabi Investment Council<\/a> (the Council) and Mubadala Capital<\/a>. Mubadala\u2019s partnerships with AI firm G42<\/a> and state-backed investment firm MGX<\/a> also fuelled the rise.<\/p>\n

In terms of assets under management, the Abu Dhabi Investment Authority maintained its position as the largest sovereign wealth fund in the region<\/strong> with USD 1.1 tn in AUM, while Mubadala holds USD 330 bn in AUM, and ADQ holds USD 249 bn. Adia\u2019s AUM has now placed it among the \u201cexclusive\u201d USD 1 tn club<\/a> for sovereign wealth funds \u2014 joining Norway\u2019s Government Pension Fund Global, China Investment Corporation (CIC), and China\u2019s SAFE Investment Center. <\/p>\n

We have more on the sovereign wealth funds\u2019 performance in today\u2019s Planet Finance<\/strong>, below. <\/p>\n

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<\/a> #2- State-owned space tech firm <\/strong>Space42 <\/strong>launched its <\/strong>Thuraya 4 (T4)<\/a><\/strong> telecom satellite<\/strong> aboard SpaceX\u2019s Falcon 9 rocket from Cape Canaveral Space Force Station in the US state of Florida, according to a press release<\/a>. The satellite is now undergoing its Electrical Orbit Raising (EOR) phase and is expected to reach its geostationary orbit within months.<\/p>\n

About Thuraya 4:<\/strong> Thuraya 4 is set to bolster Space42\u2019s mobile telecom offerings, with enhanced security, faster speeds, and expanded coverage across Africa, Europe, Central Asia, and the Middle East. The satellite, powered by the Airbus Eurostar Neo<\/a> platform, features advanced onboard processing and routing capabilities for up to 3.2k channels. <\/p>\n

ICYMI-<\/strong> Space42 secured an AED 18.7 bn contract with the UAE government last month<\/a> to extend its communication services until 2043. The agreement includes advance payments of AED 3.7 bn for the construction of two new satellites, Al Yah 4 and Al Yah 5, set to be operational by 2027 and 2028.<\/p>\n

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#3- The UAE now has a Civil Defense Authority<\/strong>, replacing the former Civil Defense Department and now operating under the National Emergency, Crisis, and Disasters Management Authority, instead of the Interior Ministry, Wam<\/a> reports. <\/p>\n

ALSO- Safety compliance certificates are mandatory for property and facility licensing<\/strong>, the authority warned, with violators facing penalties of up to six months imprisonment or fines up to AED 250k. A dedicated committee will review compensation claims related to civil defense operations through a grievance mechanism.<\/p>\n

PSAs- <\/p>\n

<\/a> #1- No change at the pump this month: <\/strong>The Fuel Price Committee kept January fuel prices unchanged from December\u2019s rates<\/a>, which were the lowest recorded in 2024, according to an Emirates General Petroleum Company statement on X<\/a>. The breakdown per liter:<\/p>\n