The exploration and exploitation of space will be one of the main topics of aerospace to be debated at the Global Aerospace Summit.
"An increasingly crowded 'last frontier' threatens to throttle the promises of space," said Nicholas Webb, of Streamline Marketing Group, the organisers of the summit. "Our global and local space situational awareness must be greatly improved, so space can continue to be cultivated."
As the subject of one of the centrepiece discussion sessions, delegates will examine the promise of civilian space travel, satellite-based energy sources, increased collection of surveillance data for everything from military reconnaissance to geographic research, and the prospect of cheaper and more sources of communication.
According to the summit's mission statement, the object is: "To learn how private initiatives are affecting commercial space transport and what the best options for launch will be over the next few years, as well as in the longer term, and what infrastructure will be needed for these developments.
"Also, what are the financing opportunities and risks involved in space transportation? We will seek to explore how close, commercially and technologically, we are to commercial human space flight and regular suborbital space tourism."
Among the delegates will be George Whitesides, the chief executive and president of Virgin Galactic. The Former Nasa chief of staff heads up Sir Richard Branson's company dedicated to making space tourism a commercial reality.
Virgin Galactic has already test flown a suborbital spaceship built to carry six passengers and two pilots, and Sir Richard has said he hopes the first customers will fly next year or the year after, launching from and returning to the company's new Spaceport America in southern New Mexico.
The brief space trip will offer passengers a few minutes of weightlessness and a view of Earth from the blackness of space at a cost of US$200,000 (Dh734,600) per seat.
dblack@thenational.ae
COMPANY%20PROFILE%20
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Company%20profile
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
Test squad: Azhar Ali (captain), Abid Ali, Asad Shafiq, Babar Azam, Haris Sohail, Imam-ul-Haq, Imran Khan, Iftikhar Ahmed, Kashif Bhatti, Mohammad Abbas, Mohammad Rizwan(wicketkeeper), Musa Khan, Naseem Shah, Shaheen Afridi, Shan Masood, Yasir Shah
Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
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How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
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