Waleid Al Mesmari, president of space and cyber technologies at Edge, says the facility will 'cultivate a high-value workforce in the UAE space sector'. Photo: Edge
Waleid Al Mesmari, president of space and cyber technologies at Edge, says the facility will 'cultivate a high-value workforce in the UAE space sector'. Photo: Edge
Waleid Al Mesmari, president of space and cyber technologies at Edge, says the facility will 'cultivate a high-value workforce in the UAE space sector'. Photo: Edge
Waleid Al Mesmari, president of space and cyber technologies at Edge, says the facility will 'cultivate a high-value workforce in the UAE space sector'. Photo: Edge

Edge's expansion into space sector will nurture Emirati talent, says UAE defence giant official


Sarwat Nasir
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UAE defence conglomerate Edge is launching a space company to manufacture and assemble Earth observation satellites, as well as provide cybersecurity solutions.

The company, called Fada, Arabic for space, will also develop the UAE Space Agency’s Sirb constellation, a group of radar imaging satellites.

Edge, which specialises in autonomous systems, cybersecurity and weaponry for military and civilian sectors, was awarded the contract by the space agency last year.

Waleid Al Mesmari, president of space and cyber technologies at Edge, told The National that Fada will complete the first satellite for launch in 2026.

“The main idea here is to focus on having a one-stop shop. The company will provide Earth observation services, which can help in many civil applications, whether urban planning, emergency response or monitoring land vegetation,” he said.

“Our focus is on building the base for technological advancement through Fada, which includes nurturing national talents to sustain engineering capabilities in the UAE.”

Earth observation and cybersecurity

This expansion into space technologies marks a significant milestone for Edge, as it seeks to diversify its product portfolio and dive into the rapidly expanding global space industry.

In 2022, the global Earth observation market was valued at $3.5 billion and is predicted to reach $6.4 billion by 2032, according to India-based Allied Market Research.

The UAE Space Agency has been making a significant push to establish a thriving private space sector that benefits the nation's economy and fosters innovation and job creation.

“The idea here is to create healthy competition in the private space sector, where each participant will complement each other and contribute to building a strong space ecosystem,” said Mr Al Mesmari.

For the Sirb constellation, for example, Fada will be developing it, while Yahsat and Bayanat will both manage satellite operations and data.

One of Fada’s unique offerings will be its ability to integrate cybersecurity technologies into satellite systems.

In an era of heightened geopolitical tensions and escalating cyber threats, satellite cybersecurity is becoming a top priority for nations and private space companies.

A rendering of the radar imaging satellite that the UAE Space Agency wants to launch as part of its Sirb constellation. Photo: UAE Space Agency
A rendering of the radar imaging satellite that the UAE Space Agency wants to launch as part of its Sirb constellation. Photo: UAE Space Agency

New satellite manufacturing facility

Fada's operations will be carried out in a new facility in Abu Dhabi dedicated to satellite manufacturing, assembly, integration and testing.

The factory will also be able to support subsystems of satellites, such as power and communication, providing a one-stop shop for customers looking to develop satellites.

Some of the satellites the facility could support include synthetic aperture radar - the radar imaging satellites that Fada is already developing for the UAE Space Agency, optical imaging satellites and infrared payloads, as well as satellite cybersecurity and protection services.

The factory, currently in its design phase, is also expected to help create jobs in the country.

"[The facility] will enable us to have a sustainable technological engineering and space capabilities that will cultivate a high-value workforce in the UAE space sector," Mr Al Mesmari said.

It is not clear when it will be completed.

Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

Indian origin executives leading top technology firms

Sundar Pichai

Chief executive, Google and Alphabet

Satya Nadella

Chief executive, Microsoft

Ajaypal Singh Banga

President and chief executive, Mastercard

Shantanu Narayen

Chief executive, chairman, and president, Adobe

Indra Nooyi  

Board of directors, Amazon and former chief executive, PepsiCo

 

 

8 UAE companies helping families reduce their carbon footprint

Greenheart Organic Farms 

This Dubai company was one of the country’s first organic farms, set up in 2012, and it now delivers a wide array of fruits and vegetables grown regionally or in the UAE, as well as other grocery items, to both Dubai and Abu Dhabi doorsteps.

www.greenheartuae.com

Modibodi  

Founded in Australia, Modibodi is now in the UAE with waste-free, reusable underwear that eliminates the litter created by a woman’s monthly cycle, which adds up to approximately 136kgs of sanitary waste over a lifetime.

www.modibodi.ae

The Good Karma Co

From brushes made of plant fibres to eco-friendly storage solutions, this company has planet-friendly alternatives to almost everything we need, including tin foil and toothbrushes. 

www.instagram.com/thegoodkarmaco

Re:told

One Dubai boutique, Re:told, is taking second-hand garments and selling them on at a fraction of the price, helping to cut back on the hundreds of thousands of tonnes of clothes thrown into landfills each year.

www.shopretold.com

Lush

Lush provides products such as shampoo and conditioner as package-free bars with reusable tins to store. 

www.mena.lush.com

Bubble Bro 

Offering filtered, still and sparkling water on tap, Bubble Bro is attempting to ensure we don’t produce plastic or glass waste. Founded in 2017 by Adel Abu-Aysha, the company is on track to exceeding its target of saving one million bottles by the end of the year.

www.bubble-bro.com

Coethical 

This company offers refillable, eco-friendly home cleaning and hygiene products that are all biodegradable, free of chemicals and certifiably not tested on animals.

www.instagram.com/coethical

Eggs & Soldiers

This bricks-and-mortar shop and e-store, founded by a Dubai mum-of-four, is the place to go for all manner of family products – from reusable cloth diapers to organic skincare and sustainable toys.

www.eggsnsoldiers.com

Citizenship-by-investment programmes

United Kingdom

The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).

All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.

The Caribbean

Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport. 

Portugal

The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.

“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.

Greece

The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.

Spain

The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.

Cyprus

Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.

Malta

The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.

The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.

Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.

Egypt 

A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.

Source: Citizenship Invest and Aqua Properties

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  • Specialist robotics and science laboratories
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UAE currency: the story behind the money in your pockets
Updated: September 23, 2024, 11:02 AM`