Al Yah Satellite Communications (Yahsat), the satellite operator owned by Mubadala Investment Company, appointed a new chairman and a chief executive as it pursues growth opportunities within the satellite broadband market.
Musabbeh Al Kaabi, chief executive of the UAE Investments platform at Mubadala, will assume the position of chairman of Yahsat’s board while Ali Al Hashemi will be the chief executive, the company said in a statement on Tuesday.
Badr Al Olama, executive director of the UAE clusters unit within Mubadala’s UAE Investments platform, will also join as a board member.
“Today’s change is testament to Yahsat’s dedication to strengthen the company’s position as a robust market leader and globally recognised ICT champion and its effective succession planning to build talent suitably placed to drive the future growth of the company,” Mr Al Kaabi said.
Mr Al Hashemi is currently the chief executive of Thuraya Telecommunications Company, the mobile satellite services subsidiary of Yahsat. He is also the general manager of Yahsat Government Solutions.
Mr Al Hashemi’s appointment “is a direct result of Yahsat’s deep long-term succession planning initiatives and will ensure that the company maintains its momentum on the strategic vision and objectives that have been at the heart of Yahsat’s transformational journey, making it one of the top eight operators in the world in just ten years of operation", Yahsat, said.
The company's chief executive Masood Mahmood will join the board of directors after stepping down from his current role on April 18.
Yahsat offers integrated satellite communications to over 190 countries across Europe, the Middle East, Africa, South America, Asia and Australasia.
Last year, Yahsat commenced construction of Thuraya 4-NGS, the next-generation telecommunications system for Thuraya, which is expected to be in service by 2024.
Yahsat’s fleet of five satellites reaches more than two-thirds of the world’s population, enabling critical communications including broadband, broadcasting and mobility solutions.
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
A list of the animal rescue organisations in the UAE
RESULT
Norway 1 Spain 1
Norway: King (90 4')
Spain: Niguez (47')
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The calling app is available to download on Google Play and Apple App Store
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Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
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Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
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UAE currency: the story behind the money in your pockets
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Engine: 3.8-litre twin-turbo V8
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Fuel economy 12.2.L / 100km
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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The five pillars of Islam
