The SpaceX Falcon 9 is the world’s first reusable rocket system to fly into earth orbit and beyond. Reuters
The SpaceX Falcon 9 is the world’s first reusable rocket system to fly into earth orbit and beyond. Reuters
The SpaceX Falcon 9 is the world’s first reusable rocket system to fly into earth orbit and beyond. Reuters
The SpaceX Falcon 9 is the world’s first reusable rocket system to fly into earth orbit and beyond. Reuters

Kleos Space to launch cluster of four satellites on Elon Musk’s SpaceX


Alkesh Sharma
  • English
  • Arabic

Geospatial intelligence firm Kleos Space has joined forces with US private aerospace company Spaceflight to launch a cluster of satellites through Elon Musk’s SpaceX Falcon 9 reusable rocket next year.

The cluster – known as the Polar Vigilance Mission – will comprise four satellites that will be launched into a 500 kilometre sun-synchronous orbit.

“Our vision is to deliver a trustworthy, cost-effective, reconnaissance data product with revisit rates that will help disrupt illegal activities, protect borders and save lives,” Andy Bowyer, chief executive of Luxembourg-based Kleos, said.

“The launch means we take another step on that journey, collecting more data, opening additional markets … providing a higher value product for our existing customer base.”

The Polar Vigilance Mission will be Kleo’s second cluster of satellites in space. Its first cluster is currently awaiting launch at the Indian Space Research Organisation’s Polar Satellite Launch Vehicle – the third generation launch vehicle of India. The company confirmed it will be launched shortly.

Founded in 2017, Kleos aims to own, launch and operate up to 20 clusters of satellites to create a constellation that provides critical coverage for monitoring global events and key locations.

The SpaceX Falcon 9 reusable rocket will significantly cut down the cost of the mission.

Founded by billionaire chief executive Mr Musk, SpaceX developed Falcon 9 – the world’s first reusable rocket to fly into earth orbit and beyond, which allows it to re-fly the most expensive parts of the rocket to drive down the cost of space access.

Kleo’s business model is to create subscription-based revenues from delivery of essential data to government and commercial entities around the globe.

The geospatial data is collected, downlinked from the satellites and then processed through the company’s proprietary algorithms, said Kleos, which has subsidiaries in the UK, the US and Australia.

“Once packaged into data products and transferred to our licensed subscribers ‘as-a-service’, the same data can be sold an unlimited number of times creating annuity-type revenues,” it added.

RESULTS

Bantamweight: Victor Nunes (BRA) beat Azizbek Satibaldiev (KYG). Round 1 KO

Featherweight: Izzeddin Farhan (JOR) beat Ozodbek Azimov (UZB). Round 1 rear naked choke

Middleweight: Zaakir Badat (RSA) beat Ercin Sirin (TUR). Round 1 triangle choke

Featherweight: Ali Alqaisi (JOR) beat Furkatbek Yokubov (UZB). Round 1 TKO

Featherweight: Abu Muslim Alikhanov (RUS) beat Atabek Abdimitalipov (KYG). Unanimous decision

Catchweight 74kg: Mirafzal Akhtamov (UZB) beat Marcos Costa (BRA). Split decision

Welterweight: Andre Fialho (POR) beat Sang Hoon-yu (KOR). Round 1 TKO

Lightweight: John Mitchell (IRE) beat Arbi Emiev (RUS). Round 2 RSC (deep cuts)

Middleweight: Gianni Melillo (ITA) beat Mohammed Karaki (LEB)

Welterweight: Handesson Ferreira (BRA) beat Amiran Gogoladze (GEO). Unanimous decision

Flyweight (Female): Carolina Jimenez (VEN) beat Lucrezia Ria (ITA), Round 1 rear naked choke

Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO

Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision

Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision

Indika
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

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