Tech UAE’s Edge buys 52% stake in Swiss UAV maker By Pramod Kumar November 7, 2023, 5:07 AM Anavia Anavia manufactures UAVs for surveillance and reconnaissance missions as well as inspection, mapping and cargo UAE state-owned defence company Edge Group has acquired a 52 percent majority shareholding in Anavia, a Swiss unmanned aerial vehicle (UAV) developer. The company manufactures unmanned helicopters for surveillance and reconnaissance missions, as well as inspection, mapping and cargo. UAE’s Edge buys 50% of Brazil’s smart weapons firm UAE’s Edge buys majority stake in Jordan robotics firm US developer to build flying taxis in Abu Dhabi Edge aims to use the unmanned helicopters to strengthen its air, land, and maritime capabilities, the UAE state-run Wam news agency reported. Mansour AlMulla, CEO of Edge Group, said the deal will allow the company to expand its global footprint. Anavia specialises in the design, development and manufacturing of versatile vertical take-off and landing systems of up to 750 kilograms. Edge Group last month acquired a 50 percent stake in Brazilian smart weapons and high-tech systems specialist Siatt.
Infrastructure Etihad Rail train to link Abu Dhabi and Dubai in 30 minutes Authorities from Abu Dhabi and Dubai formally unveiled plans on Thursday for a high-speed passenger rail link that will reduce travel between the two cities to 30 minutes. Spearheaded by Etihad Rail, the train service will reach speeds of up to 350km/h, and “pass through key strategic destinations and tourist attractions”, an Abu Dhabi media […] 8 hours ago
Aviation Saudi budget airline Flynas expects IPO approval soon Saudi low-cost carrier Flynas is likely to get approval soon from the market regulator for its planned listing on the Riyadh stock exchange. Talal Al Maiman, CEO of the airline’s part-owner Kingdom Holding, said in an interview with Al Arabiya TV at the World Economic Forum that Flynas planned to list 30 percent of its […] 10 hours ago
Economy Turkey cuts interest rate by 250 basis points Turkey’s central bank cut its key interest rate by 250 basis points to 45% as expected on Thursday, carrying on an easing cycle it launched last month alongside a decline in annual inflation that is expected to continue. The central bank indicated it would continue to ease policy in the months ahead, noting that it anticipated a rise in trend inflation in January, […] 11 hours ago
People & Lifestyle Kuwait-backed US car wash operator plans $3bn sale A Kuwait-backed car wash operator in the US is considering a sale that could value the company at nearly $3 billion including debt. Spotless Brands, which operates more than 205 locations through six brands across 10 US states and Washington DC, is working with investment bank William Blair on the possible sale, which was not […] 11 hours ago
