du 9M profit up 10.8%

Revenue grows as connectivity demand supports earnings

Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

SIB profit up 9%

Higher income from financing and investment drive growth.

UAE-made MBZ-SAT to be launched in late 2023: Al Marri

Emirati engineers are developing the final version of MBZ-Sat, the region’s most advanced imaging satellite. (Dubai Media Office)
  • The satellite made by Emirati engineers will support the Emirati space sector as it is the most advanced high-resolution satellite in the region
  • Al Marri said that a specialist team was sent to South Korea 17 years ago, which led to the establishment of the current Emirati space programme

The UAE-made MBZ-SAT will be launched by the end of 2023 as the second operational Emirati satellite, Salem Humaid Al Marri, Director-General of Mohammed Bin Rashid Space Centre (MBRSC), said on Friday. 

The satellite made by Emirati engineers will support the Emirati space sector as it is the most advanced high-resolution imaging satellite in the region. 

In a statement to the Emirates News Agency (WAM), Al Marri said that a specialist team was sent to South Korea 17 years ago, which led to the establishment of the current Emirati space programme and the launch of locally-made satellites.

He also highlighted the ongoing cooperation with regional and international companies in establishing a local space industries centre, adding that related projects have helped train Emirati professionals, and who are also an inspiration to Emirati and Arab youth, such as Emirati astronaut Hazza Al Mansoori.