Abu Dhabi’s Yahsat orders two new satellites from Airbus

The UAE space program is taking a $1.1 billion leap forward by contracting with Airbus to build two new satellites.

Abu Dhabi-based Yahsat signed a contract with European aerospace company Airbus Defence and Space to design and build the AY4 and AY5 satellites based on the widely used Eurostar Neo platform.

Yahsat won a $5.1 billion contract last year to provide satellite service for the UAE government, primarily through the AY4 and AY5 models that are scheduled for launch in 2027 and 2028.

Yahsat merged with Emirati space company Bayanat last December to form a new company focused on satellite communications and artificial intelligence with an implied market value at the time of $4 billion.

Among the key backers of the combined entity are the Mubadala sovereign wealth fund, AI developer G42 and International Holding Co., the Abu Dhabi investment company led by Sheikh Tahnoon bin Zayed.

Saudi Arabia to host women’s WTA Finals for three years

Saudi Arabia will host the women’s WTA Finals tennis tournament for the next three years under a contract announced on Thursday.

The deal between the WTA and the Saudi Tennis Federation will boost prize money for the championship in November to a record $15.25 million, a 70% increase from the purse for last year’s event that was played in Cancun, Mexico.

WTA Chairman Steve Simon told the Associated Press that public objections to the Saudi bid from Hall of Fame players Chris Evert and Martina Navratilova received serious consideration before the decision was made to hold the annual event in Riyadh.

ATP, the men’s professional tennis tour, agreed on a five-year sponsorship deal in February with Saudi Arabia’s Public Investment Fund.