Investment Corporation of Dubai posts $2.7 billion profit in 2021 on pandemic recovery

Emirates In-Focus: Eutelsat collaborates with DEWA; DFM invites listed companies to London for a roadshow

DUBAI: Eutelsat has signed an agreement to provide technical support to the Space-D program of the Dubai Electricity and Water Authority and to launch its 3U nanosatellite DEWA-SAT1.

The development of Internet of Things nanosatellite terminals will help DEWA assets better communicate with their nanosatellite, according to a statement from the Dubai Media Office.

Waleed Bin Salman, Executive Vice President of Business Development and Excellence at DEWA, ​​said, “The Space-D program aims to build DEWA’s capabilities and train Emirati professionals to use space technologies to improve its electricity and water networks.

Together, the two companies are studying the possibility of integrating Eutelsat Earth Low Orbit satellites into the Space-D program and expanding the fleet of nanosatellites, the statement said.

The two parties will develop the first IoT use case, using Eutelsat ELO satellites in conjunction with IoT sensors, at DEWA’s research and development center.

DFM Investor Roadshow to Attract London-Based Global Institutions

The Dubai Financial Market has teamed up with HSBC to host its annual International Investor Tour in London on June 9-10.

Senior executives from equity, sukuk and bond issuers in the Dubai Capital Markets will meet with representatives from a number of investment institutions around the world.

A total of nine DFM and Nasdaq Dubai listed companies are participating in the DFM International Investor Roadshow, including DEWA, ​​Dubai Islamic Bank, Emaar Properties, Emaar Development, Emirates NBD, DP World, Amanat, Aramex and DFM Company.

Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “Dubai’s numerous development plans and initiatives aimed at implementing its ambitious strategy to develop its financial markets have strengthened their presence on the radar of investment institutions. worldwide, which is clearly reflected in the performance indicators. recently.”

The DFM attracted 51,404 new investors in the first quarter of 2022, of which 73.4% were foreign investors.

This brings DFM’s total investor base to 903,077 investors from 209 nationalities, indicating growing interest in DFM’s opportunities, whether through transactions or public offerings, Ali added.

As part of the COVID-19 precautionary measures, roadshows have been held virtually for two years.

Luisa D. Fuller