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Boston Consulting Group’s latest analysis shows that the UAE, Saudi Arabia, and Qatar are at the heart of civil space investment across MEA. The UAE led with roughly $443 million committed for civil space in 2024, capturing nearly half of governmental spending in the region. Saudi Arabia and Qatar followed with approximately $220 million each.

The report highlights downstream services—satellite communications, earth observation—as the fastest-growing segments. UAE is projected to grab over 50 per cent of that downstream services market, while Saudi Arabia is set to hold over 20 per cent, and Qatar remains just under 5 per cent.

In the upstream sphere, where spacecraft design, launch facilities, and ground operations are concentrated, the Gulf countries are boosting capacity. Saudi Arabia has stepped up partnerships with foreign agencies such as NASA and commercial firms like Axiom, and domestic players including Neo Space Group are increasingly involved. Qatar’s Es’hailSat is cited as a key actor in satellite communications. The UAE’s Hope Mars Probe is named as an example of both international cooperation and technical achievement.

Growth rates projected through to 2033 are in line with, or exceed, the expected global compound annual growth rate for the space economy, which BCG estimates at about 5 per cent. Analysts point to policy support, institutional frameworks, public-private partnerships, and investment in human capital as enablers.

Opportunities in downstream services are being amplified by trends in artificial intelligence and cloud computing. These are reshaping data collection, processing and applications for earth sensing, environmental monitoring, agritech, and disaster response. The Gulf states are working to consolidate their roles not only as financiers but as centres of innovation and regional service provision.

The report also situates the MEA region’s space efforts within broader economic diversification agendas, particularly in the Gulf. For the UAE, Saudi Arabia and Qatar, space is not merely symbolic ambition but a sector being leveraged to build scientific ecosystems, boost high-tech employment and attract international collaboration.

/India Press Agency/

By Nitya Chakraborty Prime Minister Narendra Modi has stepped into his 75th year on Wednesday, September 17.His birthday is being celebrated by the BJP nationally. The significance is much more as PM’s 75th birthday celebrations have coincided with the centenary programmes on the founding of the RSS in 1925.On October 2 this year, Vijaya Dasami […]

The article Decoding Prime Minister Narendra Modi As A Political Leader On His 75th Birthday appeared first on Latest India news, analysis and reports on IPA Newspack.

Prosus NV has raised its holding in Urban Company Ltd to 7.35 per cent, after acquiring roughly an additional 4 percentage points by investing about $139 million, ahead of the home services startup’s Initial Public Offering. This move positions Prosus as one of Urban Company’s largest shareholders and signals strong institutional faith in the firm’s prospects.

Urban Company’s IPO drew overwhelming demand — it was subscribed over 103 times — and its shares listed at a premium of about 57.5 per cent over the issue price on the National Stock Exchange, opening at ₹162.25 versus the ₹103 issue price. The listing surged the company’s market valuation to nearly $2.8 billion.

According to Ashutosh Sharma, head of Prosus India Ecosystem, the firm increased its stake during the IPO allotment. Prosus first backed Urban Company in 2021; this latest acquisition underscores its continued appetite for stakes in Indian startups with domestic consumer and service-led business models.

Urban Company, founded in 2014 by Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra, operates across home services such as beauty, cleaning, appliance repair and plumbing. It has expanded into over 50 cities in India and also operates in international markets including UAE and Singapore. The company reported strong financial performance in its fiscal year ending 2025, with revenue growth of around 36 per cent year-on-year and its first net profit of approximately ₹239–₹240 crore.

Investor enthusiasm was evident in the IPO process. Qualified Institutional Buyers led the subscription with particularly strong bids. The grey market premium, which reflects expectations ahead of listing, had risen to over 50 per cent above the issue price, signalling investor confidence in an upward listing trajectory.

Prosus’s move comes amid a broader trend of institutional investors increasing their exposure to Indian startups ahead of IPOs, particularly those in consumer-facing, service-oriented sectors. Earlier urban and tech-led listings have attracted robust demand, and IPOs that show solid unit economics—strong margins, revenue growth, steps toward profit—are being favoured by capital.

Urban Company’s stock market debut saw a steep rise: the shares not only opened with a 57.5 per cent premium on NSE, but trading surged further, reflecting both investor optimism and perceived underpricing in its IPO offer.

Prosus, headquartered in the Netherlands and known for its early stake in Tencent Holdings, has invested over $8-9 billion in the Indian startup ecosystem. It has backed firms such as Swiggy, Meesho, and PayU. Its amplified investment in Urban Company exemplifies a strategy of anchoring bets on firms that combine growth potential with improving financial metrics.

Dubai Future Foundation has sealed a Memorandum of Understanding with XSOLLA, a global video-game commerce company, under the framework of the Dubai Program for Gaming 2033. The agreement seeks to reinforce Dubai’s position as a gaming innovation hub, drive thought-leadership in the sector, and deliver economic impact with goals of 30,000 new jobs and an additional US$1 billion in GDP by 2033.

DPG33, launched in November 2023 under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of DFF, aims to place Dubai among the world’s top ten gaming hubs over the next decade. The XSOLLA deal was inked during Dubai’s participation in Gamescom 2025 in Germany, where the DFF-led pavilion showcased local developers and gaming initiatives.

Under the MoU, the partners will co-operate on generating thought leadership initiatives and spotlight key activities in content, monetisation, infrastructure, and talent development. DFF also will use its platform to attract investment and cultivate a supportive ecosystem for game developers.

Local game studios have already been gaining traction. Dubai-headquartered iBLOXX secured US$5 million in funding to further develop its online game Strayshot, and Artisan Studios’ Lost Hellden drew over 15,000 wishlist additions on Steam plus more than 300,000 views of its promotional video across platforms such as IGN, PlayStation and Nintendo of America during the Gamescom showing. These examples illustrate growing visibility for indie development as well as commercial promise in Dubai’s gaming sector.

Abdulaziz AlJaziri, Deputy CEO of DFF, said that the level of local and international interest in Dubai’s gaming sector reveals “a real appetite to explore and partner with one of the industry’s most promising markets.” He emphasised Dubai’s advantages in infrastructure, investment, and competitive advantages under DPG33.

The economic projections tied to these initiatives rely heavily on success in three arenas: scaling game creation and publishing, enhancing monetisation capabilities, and developing skilled talent. The MoU with XSOLLA is expected to assist especially in the monetisation and scaling end, leveraging XSOLLA’s global commerce tools and developer support services. Analysts note that aligning global platforms like XSOLLA with local innovation programmes is a strategy used in other leading gaming hubs, helping to bridge gaps in market access, revenue optimisation, and international distribution.

Regulatory and infrastructure support remain under scrutiny, as talent attraction—both local and international—depends not only on capital and tools, but also on clarity in regulation, availability of education and training, creative incentives, and digital and physical infrastructure. Dubai’s gaming strategy, via DPG33, aims to address many of these pain-points through government partnership, industry collaboration, and ecosystem development.

Prime Minister Narendra Modi turned 75 today amid widespread greetings and the launch of a two-week “Sewa Pakhwada” campaign aimed at welfare and outreach efforts across India. State and central leaders as well as ordinary citizens extolled his leadership, while a slate of new programs for women, children and tribal communities were rolled out, especially from Dhar in Madhya Pradesh.

President Droupadi Murmu hailed Modi as “an exemplar of hard work” who has inspired the nation to set and pursue large goals. She wished him health and joy, emphasising how his leadership has helped shape India’s progress globally. Union ministers including Rajnath Singh, Nitin Gadkari and BJP president J. P. Nadda echoed these sentiments, pointing to Modi’s role in promoting self-reliance, elevating India’s international stature, and executing reforms across sectors.

The “Sewa Pakhwada” initiative has been structured as a fortnight of activity ending on 2 October, coinciding with the birth anniversaries of Mahatma Gandhi and Lal Bahadur Shastri. Under the campaign, programmes such as health check-ups, cleanliness drives, blood donation camps, environmental awareness efforts, promotion of indigenous products, exhibitions, and sports events will take place. BJP youth wings are staging runs and community events in dozens of cities to mark the milestone.

From his birthplace town of Vadnagar in Gujarat to distant corners of the country, celebrations have taken on local flavour. In Madhya Pradesh’s Dhar district, special welfare initiatives for women, children and tribal populations were unveiled. Across India, schools and public spaces have hosted rangoli displays, devotional prayers, and cultural performances. Special Ganga Aarti ceremonies have been organised and major state capitals are seeing visual tributes such as large-scale posters and tricolours.

Political reaction has been overwhelmingly positive, with opposition voices largely restrained or offering measured praise. Chief ministers from various states, as well as senior figures within BJP and allies, emphasised continuity of governance and commitment to delivering public services. Some messages focused on Modi’s global diplomatic presence, while others lauded domestic schemes and grassroots infrastructure projects.

Analysts see the birthday observances and accompanying welfare push as both symbolic and strategic. The scale of the celebrations and outreach efforts suggests an aim to reinforce popular support ahead of upcoming elections. The use of service initiatives spans across regions and social groups; the focus on tribal welfare and women’s health is being viewed as an attempt to address longstanding development gaps. Modi’s third consecutive term as Prime Minister has already witnessed significant policy moves in defence, infrastructure, manufacturing, and digital governance, boosting India’s international profile even as challenges such as inflation, unemployment and rural distress persist.

Saudi entities Hassana Investment Company and AviLease have formed a joint venture to offer aircraft-leasing opportunities, signalling a major step in the Kingdom’s drive to build up its aviation financing infrastructure under its National Aviation Strategy. Hassana will own a majority of the new venture; AviLease—backed by the Public Investment Fund—will supply aircraft servicing.

The joint venture’s launch includes a deal to acquire a fleet of ten fuel-efficient, new-technology aircraft from AviLease, all currently leased to carriers based in Saudi Arabia. The portfolio reflects a shift towards greener, more sustainable aviation assets.

Hassana, which manages funds for the General Organization for Social Insurance, sees this as a chance to deepen exposure to resilient asset classes that generate long-term cash flows. Hani Al-Jeha­ni, Acting CEO and CIO of Hassana, emphasised the partnership aligns with its mandate to pursue investments that offer sustainable returns while supporting national aviation goals.

AviLease, established in 2022 as part of the sovereign wealth fund’s expanding portfolio, is expanding rapidly. The company has placed large orders for new Boeing and Airbus aircraft and completed a sizeable financing facility earlier this year. It manages a global portfolio worth several billion dollars. Edward O’Byrne, CEO of AviLease, described the joint venture as foundational to scaling up Saudi Arabia’s aviation ecosystem and creating a platform attractive to both domestic and international investors.

Fahad Al-Saif, Chairman of AviLease, noted that the partnership marks one of the first private-sector-led steps into the aviation financing domain within Saudi Arabia, reinforcing the role of investment institutions in strengthening the sector.

The move supports Saudi Arabia’s ambition to draw 150 million visitors annually by 2030, up from earlier targets, and to enhance the economic multiplier effects of tourism, trade, and transport infrastructure. Aviation financing is seen as a key enabler in achieving these goals, since airlines often face high capital costs.

ADQ and Azerbaijan Investment Holding have signed a memorandum of understanding to pursue joint projects in the financial services sector, aiming to improve market connectivity and bolster the investment environment for sustainable economic growth.

The agreement follows their establishment of a joint investment platform in December 2023, under which both organisations committed equal capital to developing sectors such as agriculture, technology, pharmaceuticals and energy infrastructure across Azerbaijan, the UAE, and Central Asia—with possible expansion beyond those regions.

Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ, said the deal exemplifies the strategy of deploying patient capital and leveraging investment know-how to stimulate economic diversification, foster industrial expansion, and enhance regional connectivity and competitiveness.

Ruslan Alikhanov, Chief Executive Officer of AIH, described the partnership as a key move to unlock new growth opportunities for Azerbaijan, emphasising that combining capital and expertise will support more diversified development and position Azerbaijan as a proactive actor in regional investment networks.

AIH, founded in 2020, manages strategic state-owned enterprises, enhancing governance, boosting operational efficiency and channeling investment into national priorities. ADQ is recognised for investing in critical infrastructure, global supply chains, and strategic sectors that align with broader national and regional economic transformation agendas.

Trade between the UAE and Azerbaijan has been strengthening, with non-oil trade rising 43 per cent year-on-year to reach about USD 2.4 billion in 2024. UAE investments into Azerbaijan have crossed USD 1 billion, reflecting the deepening economic partnership.

Abu Dhabi’s Hub71 has forged a strengthened alliance with the Japan External Trade Organization aimed at building deeper cross-border innovation, particularly in Web3, AI, spatial intelligence and sustainable tech sectors. Hub71 used its presence at Tokyo’s WebX and the Blockchain Leaders Summit to push forward new collaboration programmes and investment pathways.

At these events, Hub71 spotlighted a number of startups from Abu Dhabi—among them bitgrit, xMap, Aqua Development, Chainsight, Nodeshift, Bit2Me and 1Money—making connections with Japanese investors, corporate entities and ecosystem partners. The showcasing was closely aligned with Japan’s innovation priorities, including governance in blockchain and sustainable water solutions.

Key to the partnership is the launch of the J-StarX Programme, developed jointly by Hub71, JETRO and Elixir Capital, which will host seven Japanese Web3 startups in Abu Dhabi to facilitate scale-ups, market access, and ecosystem integration. Entrepreneurs in this programme will benefit from capital, mentoring, regulatory guidance and networking in the UAE’s tech environment.

Hub71 also assumed title-sponsorship of the Blockchain Leaders Summit in Tokyo, delivering the opening keynote. Executives emphasised the UAE’s position as an enabling region for innovators seeking overseas expansion, and positioned Abu Dhabi as a gateway for startups to penetrate Asia on one side and Middle East markets on the other.

Peter Abou Hachem, Head of Growth and Strategy at Hub71, stated that the collaboration underscores “the value of global connectivity”, and that Japan’s leadership in Web3 and innovation aligns with Hub71’s mission. He noted that through partners like JETRO, both ecosystems can unlock opportunities in market reach, talent exchange and frontier technologies.

Space42, listed in Abu Dhabi, and Viasat, a US communications company on Nasdaq, have joined forces to launch a new entity called Equatys to deliver Direct-to-Device and mobile satellite services worldwide leveraging 5G standards.

Equatys will combine satellite and terrestrial networks under a 3GPP Non-Terrestrial Network architecture so that standard smartphones and IoT devices can connect even where ground-based networks cannot reach. It will use over 100 MHz of harmonized Mobile Satellite Services spectrum across more than 160 markets. The venture aims to begin commercial service within three years.

The “space tower” model at Equatys is built on shared multi-tenant infrastructure covering both space and ground components. This setup is designed to cut redundant investment, improve spectrum utilisation, and reduce overall capital costs for operators. Licensed terrestrial and satellite operators will be able to tap into this infrastructure for D2D and next-generation MSS offerings.

Space42 was formed in 2024 through a merger combining the operations of Bayanat and Yahsat. Its business units include upstream satellite operations and geospatial analytics/AI-powered smart solutions. Major shareholders include G42, Mubadala, and IHC. Viasat, having acquired Inmarsat in 2023, operates globally in secure satellite communications, for government, enterprise, and consumer markets.

While financial terms of the venture were not disclosed, Equatys is expected to issue equity in phases, opening opportunities for strategic and financial partners as the system scales. The model is pitched as infrastructure-grade, aiming to offer returns tied to long-term deployment and spectrum utilisation rather than short-term hardware sales.

The project is subject to regulatory and customary conditions. It follows a Memorandum of Understanding signed in March 2025 between Space42 and Viasat which moved from exploratory technical and commercial studies to forming a jointly owned infrastructure company.

Experts are watching closely how spectrum harmonisation will be maintained across the many markets Equatys aims to cover. Nation-level telecom regulators often impose latency, licensing or usage constraints on MSS and NTN services, which can complicate global rollout. Also, implementing a shared infrastructure model across multiple orbits of satellites presents technical and operational challenges, from latency and hand-off between orbits, to ground station coordination, spectrum interference and service reliability.

Hesai Group’s shares surged in their Hong Kong debut, trading above its IPO price after the lidar‐sensor maker raised approximately HK$4.16 billion in its secondary listing.

Trading under code 2525, the stock opened at HK$229.20, about 7.7 per cent above the offer price of HK$212.80. Demand was strong: the international tranche was oversubscribed around 14 times, while the Hong Kong public tranche drew nearly 168.65 times subscription. Six cornerstone investors including HHLR Advisors, Taikang Life, and WT Asset Management committed some US$148 million worth of shares, agreeing to hold them for at least six months.

Hesai’s second quarter performance helped set the stage. Its revenue rose by 54 per cent year-on-year, shipments more than tripled, and the company reported a net profit of roughly RMB 44.1 million, reversing a loss from the year before. These results support its strategy to scale lidar sensor shipments, especially for advanced driver-assistance systems and autonomous driving applications.

A key driver is Hesai’s plan to cut manufacturing costs and selling prices. CEO David Li stated that the company is working to reduce the cost of its sensors dramatically, targeting a price of about US$200 per unit from previous models that sold for tens of thousands of dollars. To assist this, production expansion is underway, and Hesai is also pursuing international customers and counterparties in the autonomous vehicle and robotics sectors.

Geopolitical and regulatory pressures are also shaping Hesai’s approach. The dual listing in Hong Kong while retaining its U. S. listing on Nasdaq reflects efforts to strengthen capital access amid U. S.-China tensions. Hesai had earlier denied accusations of misleading investors over revenue and alleged military links; the company stated its operations are independent and compliant with regulations.