Attendees inspect an aircraft engine on the Rolls-Royce Holdings Plc exhibition stand during the 15th Dubai Air Show at Dubai World Central (DWC) in Dubai, United Arab Emirates, on Monday, Nov. 13, 2017. The biennial Dubai expo is an important venue for both manufacturers to secure deals for their biggest and most expensive jetliners. Photographer: Natalie Naccache/Bloomberg
An aircraft enginen at the Rolls-Royce exhibition stand at the 1Dubai Airshow. Natalie Naccache/Bloomberg

Mubadala unit to reveal jet engine facility details 'soon'



The Turbine Services & Solutions Group (TS&S), a wholly owned subsidiary of Abu Dhabi's Mubadala Investment Company, expects to unveil details of the facilities it will build for GE and Rolls-Royce engines, “before the end of the year”, as it ramps up its aerospace business in the UAE, the firm’s newly appointed deputy chief executive said.

Mansoor Janahi, previously the vice-president of finance, real estate and infrastructure at Mubadala, was appointed as deputy chief executive of TS&S on Wednesday.

"We are expanding on agreements we signed with Rolls-Royce and GE in 2013 to help build their capabilities in the region. The detailed plans will most likely be announced before the end of the year, hopefully very soon," Mr Janahi told The National shortly after his appointment.

The plans are to build either one or more service facilities for the two aviation and industrial engine manufacturers, although Mr Janahi did not talk about the specifics.

Mubadala signed deals with GE Aviation and Rolls-Royce at the 2013 Dubai Airshow to establish GEnx and XWB engine maintenance, repair and overhaul (MRO) centres in Al Ain. There was also a combined commitment of US$1 billion from the two engine-makers for parts production.

GE Aviation’s GEnx engine is used on Boeing 787 Dreamliner aircraft, while the Rolls-Royce Trent XWB engine is used on Airbus A350s.

The UAE is expanding its aviation manufacturing and MRO sectors, where it anticipates strong demand from customers on the back of the country’s fast-growing aviation industry. The country aims to become an “established global aerospace hub”.

This week, Mubadala said it would invest Dh82.5 million in research and development for its aerospace, renewables and ICT sectors over the next five years.

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TS&S, meanwhile, announced the successful delivery of the first full-life overhaul on a Siemens Industrial Trent gas turbine at its existing facility.

Also this week, Mubadala’s Aerospace division announced partnerships with Honeywell and IBM to collaborate on the MRO of aerospace products across the Middle East.

Mr Janahi told The National he aimed to "build on the strong platform for growth the company already has" in his first few months in the job. He also said TS&S would continue to support Etihad Airway's servicing needs.

“The company is poised well for further growth, in providing local support to global aerospace companies working in the region,” he said.

Khaled Abdulla Al Qubaisi, the chief executive of Mubadala’s Aerospace, Renewables and ICT business, said of Mr Janahi's appointment: “Mansoor brings a wealth of experience to his new role at TS&S, a premier MRO and services business that is a crucial part of Abu Dhabi’s industrial ecosystem."

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

The specs: Lamborghini Aventador SVJ

Price, base: Dh1,731,672

Engine: 6.5-litre V12

Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

Torque: 720Nm @ 6,750rpm

Fuel economy: 19.6L / 100km

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

SPECS

Nissan 370z Nismo

Engine: 3.7-litre V6

Transmission: seven-speed automatic

Power: 363hp

Torque: 560Nm

Price: Dh184,500

1,000 Books to Read Before You Die: A Life-Changing List
James Mustich, Workman

COMPANY PROFILE

Name: Kinetic 7
Started: 2018
Founder: Rick Parish
Based: Abu Dhabi, UAE
Industry: Clean cooking
Funding: $10 million
Investors: Self-funded

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

DEADPOOL & WOLVERINE

Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin

Director: Shawn Levy

Rating: 2.5/5

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

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Babumoshai Bandookbaaz

Director: Kushan Nandy

Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami

Three stars

SPECS

Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

The specs

Engine: Single front-axle electric motor
Power: 218hp
Torque: 330Nm
Transmission: Single-speed automatic
Max touring range: 402km (claimed)
Price: From Dh215,000 (estimate)
On sale: September

Financial considerations before buying a property

Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.

“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says. 

Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.

Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier. 

RESULTS

5pm Maiden (PA) Dh80,000 (Turf) 1,600m

Winner Thabet Al Reef, Bernardo Pinheiro (jockey), Abdallah Al Hammadi (trainer)

5.30pm Handicap (PA) Dh80,000 (T) 1,600m

Winner Blue Diamond, Pat Cosgrave, Abdallah Al Hammadi

6pm Arabian Triple Crown Round-1 Listed (PA) Dh230,000 (T) 1,600m

Winner Hameem, Adrie de Vries, Abdallah Al Hammadi

6.30pm Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m

Winner Shoja’A Muscat, Szczepan Mazur, Ibrahim Al Hadhrami

7pm Maiden (PA) Dh80,000 (T) 1,200m

Winner Heros De Lagarde, Szczepan Mazur, Ibrahim Al Hadhrami

7.30pm Handicap (TB) Dh100,000 (T) 2,400m

Winner Good Tidings, Antonio Fresu, Musabah Al Muhairi

J Street Polling Results

97% of Jewish-Americans are concerned about the rise in anti-Semitism

76% of US Jewish voters believe Donald Trump and his allies in the Republican Party are responsible for a rise in anti-Semitism

74% of American Jews agreed that “Trump and the Maga movement are a threat to Jews in America"

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers


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