Mubadala Aerospace has struck a landmark deal with Rolls-Royce to service and maintain the British company’s Trent XWB engines in Abu Dhabi.
Under the agreement, Rolls-Royce will support Mubadala in establishing a Trent XWB engine maintenance, repair and overhaul (MRO) facility, which will be the first in the Middle East.
Rolls-Royce will also source up to US$500 million of engine components from Mubadala over a period of 10 years, once the Abu Dhabi government-owned strategic investment company has a manufacturing capability.
“Mubadala has shown that it has the capability to grow its businesses and this deal with Rolls-Royce for engine maintenance effectively broadens their horizons, diversifies their operations into what is traditionally seen as a high yield segment,” said Saj Ahmad, the chief analyst at StrategicAero Research.
"It also gives them a springboard to showcase to Trent-XWB customers like Etihad, Emirates and Qatar Airways, that there is a centre of regional excellence right on their doorstep."
The Trent XWB has found a significant market in the Middle East, with 25 per cent of the orders for this engine coming from customers in the region.
Global aviation giants such as Airbus, Boeing and General Electric (GE) are adding local manufacturing and repair facilities and creating high-end jobs as they scoop up orders for planes and engines worth billions of dollars from the region at a time of faltering global growth.
Abu Dhabi on Monday also struck deals worth US$5 billion to make parts for Airbus and Boeing. Boeing will help Mubadala to develop a facility to make high-tech composite materials favoured in the aviation industry because of their light weight and fuel efficiency.
The new deals aim to add long-term value to Abu Dhabi’s vision to become an integral link in the global aerospace manufacturing supply chain and could also develop expertise in aerospace engineering in the local workforce. They could also bring more skilled jobs to the emirate at a time of massive expansion by carriers such as Emirates Airline and Etihad Airways.
“This is an exciting opportunity which will significantly extend both our aerospace supply chain and aero engine support capabilities in the region,” said Tony Wood, the president-aerospace at Rolls-Royce.
At the Dubai Airshow on Sunday, Emirates ordered $99bn worth of planes, Etihad made a $67bn order, while Qatar Airways orders totalled about $2.8bn.
“With those three airlines big buyers of the Rolls-Royce powered Airbus A350XWB family, this deal with Rolls-Royce gives them a competitive advantage in key MRO services that airlines would otherwise have to seek outside of the GCC,” said Mr Ahmad.
Mubadala, meanwhile, has also signed a joined venture agreement with GE Aviation. Under the deal, the two partners will enhance the Gnx maintenance, repair and overhaul facility.
The agreement also included the study of setting up a regional GEnx logistics centre in Abu Dhabi and a direct investment by GE in the existing GEnx engine shop, dedicated to engine repair.
business@thenational.ae
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Fixture: Thailand v UAE, Tuesday, 4pm (UAE)
TV: Abu Dhabi Sports
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Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
Prop idols
Girls full-contact rugby may be in its infancy in the Middle East, but there are already a number of role models for players to look up to.
Sophie Shams (Dubai Exiles mini, England sevens international)
An Emirati student who is blazing a trail in rugby. She first learnt the game at Dubai Exiles and captained her JESS Primary school team. After going to study geophysics at university in the UK, she scored a sensational try in a cup final at Twickenham. She has played for England sevens, and is now contracted to top Premiership club Saracens.
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Seren Gough-Walters (Sharjah Wanderers mini, Wales rugby league international)
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Erin King (Dubai Hurricanes mini, Ireland sevens international)
Aged five, Australia-born King went to Dubai Hurricanes training at The Sevens with her brothers. She immediately struck up a deep affection for rugby. She returned to the city at the end of last year to play at the Dubai Rugby Sevens in the colours of Ireland in the Women’s World Series tournament on Pitch 1.
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The Sand Castle
Director: Matty Brown
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Rating: 2.5/5
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The specs: 2018 GMC Terrain
Price, base / as tested: Dh94,600 / Dh159,700
Engine: 2.0-litre turbocharged four-cylinder
Power: 252hp @ 5,500rpm
Torque: 353Nm @ 2,500rpm
Transmission: Nine-speed automatic
Fuel consumption, combined: 7.4L / 100km
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
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Torque: 400Nm at 1,750-4,000rpm
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Founded: 2013
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Most sought after workplace benefits in the UAE
- Flexible work arrangements
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THE SPECS
Engine: six-litre W12 twin-turbo
Transmission: eight-speed dual clutch auto
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Torque: 900Nm
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
The specs
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Australia 580
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3rd ODI, Tuesday, January 12
4th ODI, Thursday, January 14
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Directors: Tarzan and Arab Nasser
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Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
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Name: Oulo.com
Founder: Kamal Nazha
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Founded: 2020
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Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
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What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
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Moon Music
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