The Al Yah 3 satellite has successfully completed in-orbit testing and is ready to support the launch of commercial services, operators Yahsat said on Wednesday.
It will now provide high-speed internet access to some of the most isolated communities in the world.
Al Yah 3 was launched into space on an Ariane 5 rocket on January 26 from French Guiana.
Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, tweeted a message of support on Wednesday.
"The success of the Yahsat satellite mission, with the participation of talented young Emiratis, embodies our vision to build a better future for UAE and humanity," he posted on Twitter.
Al Yah 3 is set to extend's Yahsat’s coverage to 19 additional markets across Africa covering 60 per cent of the population.
It also marks the Abu Dhabi satellite broadcasting company's first entry into Brazil where 95 per cent of the population will have access to its satellite broadband services.
Masood Mahmood, chief executive at Yahsat, said the launch brought many new opportunities.
"We are excited by the opportunity Al Yah 3 brings in our ability to deliver reliable and affordable satellite broadband services to parts of the world that need it the most," he said.
Wednesday's news is the culmination of a project which has seen Al Yah 3 designed and built with Emirati engineers leading at every stage of the process in partnership with manufacturer Orbital ATK.
“It has been an incredible journey for us and a very proud moment for both Yahsat and for the UAE," said Mr Mahmoud. "We are now focusing on the commercial launch of our services using Al Yah 3 over the coming weeks.” Mahmood added.
In the minutes after its launch last January, Arianespace lost contact with the booster. It transpired, however, that Al Yah 3 had separated from the rocket and was working normally.
The issue arose after the satellite was “inserted into an orbit that differed from the flight plan”, Yahsat said at the time
But the company said a revised flight plan would be implemented to achieve the correct orbit. Now that's been borne out by Wednesday's news.
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Read more:
Yahsat confirms UAE’s latest satellite is safe in orbit with a revised flight plan
Update: Al Yah 3 in orbit despite earlier lost contact
UAE's newest satellite will provide internet to remote global communities
The%20specs
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Company%C2%A0profile
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
The finalists
Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho
Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson
Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)
Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)
Club of the Year: Bayern Munich, Liverpool, Real Madrid
Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)
Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola
How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
EMILY%20IN%20PARIS%3A%20SEASON%203
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Victims%20of%20the%202018%20Parkland%20school%20shooting
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
The%20specs
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THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
