The new generation of space exploration will be driven by an increasingly commercial focus on activities such as tourism, energy production and mining.
The new generation of space exploration will be driven by an increasingly commercial focus on activities such as tourism, energy production and mining.

To space [tourism] and beyond



Two things are guaranteed to capture the imagination of children, according to Eric Anderson: space and dinosaurs. And one of the two will become a lot more important in the coming decades. The age of considering children naive for dreaming of becoming an astronaut is coming to an end. When reaching adulthood, a child born today will enter a world where the commercial exploration of space is a trillion-dollar business employing millions of people. If things go to plan, they could get a job with Space Adventures, the company Mr Anderson founded in 1998. He hopes to see it become a service provider to government and commercial space programmes around the world, while also turning a lucrative trade in taking people to the moon and beyond. The commercialisation of space exploration may seem to have sneaked up rapidly - we live in a time when a ticket can be booked on a Virgin Galactic spaceship - but, like most technological advances, it has been making small, incremental steps, largely out of the public eye, for decades. Space-based technology now powers global communication networks, along with much of the world's mapping and guidance systems. It helps scientists to understand climate in a way never before possible and is a driving force behind revolutionary technologies for energy, materials and communication. But much of this progress has escaped public interest, a fundamentally academic pursuit driven by government money and infrastructure-type investments. The new generation of space exploration will be different. An increasingly commercial focus means it will target areas that engage a wider audience, such as tourism, energy production, mining and permanent human settlements on other planets and the moon. The US government has made putting a man on Mars a national priority, and will tender US$400 billion worth of contracts related to this mission alone by 2030. Much of the private-sector interest in space has been funded by wealth generated in America's Silicon Valley. The region's technology entrepreneurs see space as yet another frontier to be conquered by bright minds, and the founders of some of the most successful businesses such as Microsoft, Google and PayPal have channelled hundreds of millions of dollars into the industry. "Space tourism is the lowest-hanging fruit," says Anousheh Ansari, a millionaire technology entrepreneur who recently travelled to the International Space Station with Mr Anderson's company. "By creating a viable space travel industry, you will be able to do continuous launches and therefore, through volume and competition, bring down costs while gaining experience and advancing technology." Frequent launches of commercial space vehicles - Virgin Galactic hopes to reach five per week - are widely mentioned as a major step in developing low-cost space travel. The existing system for reaching orbit, where the vehicle escapes the Earth's gravity, is extremely costly. As most of the space craft is abandoned after launch or on re-entry to the atmosphere, each individual mission carries enormous one-off expenses. Mr Anderson compares it with passenger aircraft. Imagine the price of a trip to London, he says, if each jumbo jet held only four passengers and had to be ditched into the sea before landing, with a new plane being built - and discarded - for the return flight. Companies such as Virgin Galactic do not face such challenges as their flights, known as suborbital missions, never leave Earth's gravitational pull. Like a ball being tossed in the air, they blast their way at three times the speed of sound to the edges of the atmosphere, where they float for about five minutes while slowly falling back to Earth. To escape Earth's gravity, a craft needs to be accelerated to more than 25 times the speed of sound. Thanks to the rules of physics, this requires an exponentially larger amount of energy. It is this huge amount of fuel that makes it necessary to use a giant disposable rocket to propel a much smaller space vehicle. While this challenge is a major bottleneck to frequent orbital space tourism, it also has a broader impact on the space industry. The cost of moving anything into space is at least US$5,000 (Dh18,365) per kilogram, and often more than 10 times that. Solving this challenge is one of the many lucrative missions on which the private space industry is working. Solutions are expected to come from lowering the costs of launches and basing supply facilities in space. An orbiting supply station could mine for ice - the likely "white gold" of future space exploration - or other resources such as silver and magnesium. All three are found in abundance in the asteroids orbiting the Earth, with water being valuable both for human consumption and conversion into hydrogen fuel. Even more lucrative will be the role of space in the race to develop clean, sustainable sources of energy. Solar satellites, as they have been dubbed by researchers, could orbit Earth with giant solar collectors harvesting the unfiltered energy of the sun. The satellites would beam the energy back to stations on Earth in the form of microwave signals. Such a transmission system was recently tested in the US, sending electricity between two Hawaiian islands 148km apart; a similar distance to that of a satellite orbiting Earth. US defence officials believe space-based solar power could supply 10 per cent of global energy needs by 2050. A recent report by the department recommends the US government become a founding customer for such power, guaranteeing demand for private sector energy providers willing to invest in the technology. While existing electricity costs in the range of 4 US cents to 10 cents per kilowatt hour (kWh) today, the report says solar power from space will initially cost in the range of $1 to $2 per kWh. But even at those prices the system could be economically feasible, the report says. Remote military bases and government facilities would make natural customers for such a service. They already pay high premiums for power. The report uses US military bases in Iraq as an example: when factoring in all the direct and indirect costs, space-based power could be competitive with existing systems of producing electricity for such bases. "Only governments can afford to spend dollars on fundamental research that may not have commercial appeal for decades," Mr Anderson says. "But anything that can be done by private companies should be done by private companies." While he sees a role for government and private-sector investment in space, Mr Anderson believes a major role for states will be to adapt the existing international system in preparation for a new generation of exploration, land grabs and potential conflict. "In technology we tend to over-predict how much progress we will make in two years, but under-predict what we will achieve in 10 years," he says. "The international system for dealing with space issues is going to have a lot of new things to deal with in the coming years." tgara@thenational.ae

How to vote

Canadians living in the UAE can register to vote online and be added to the International Register of Electors.

They'll then be sent a special ballot voting kit by mail either to their address, the Consulate General of Canada to the UAE in Dubai or The Embassy of Canada in Abu Dhabi

Registered voters mark the ballot with their choice and must send it back by 6pm Eastern time on October 21 (2am next Friday) 

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).

Where to buy

Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com

SCORES

Multiply Titans 81-2 in 12.1 overs
(Tony de Zorzi, 34)

bt Auckland Aces 80 all out in 16 overs
(Shawn von Borg 4-15, Alfred Mothoa 2-11, Tshepo Moreki 2-16).

The Facility’s Versatility

Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
 
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
 
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
 
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
 
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
 
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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COMPANY PROFILE

Company name: Blah

Started: 2018

Founder: Aliyah Al Abbar and Hend Al Marri

Based: Dubai

Industry: Technology and talent management

Initial investment: Dh20,000

Investors: Self-funded

Total customers: 40

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)

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: 2018 Renault Megane

Price, base / as tested Dh52,900 / Dh59,200

Engine 1.6L in-line four-cylinder

Transmission Continuously variable transmission

Power 115hp @ 5,500rpm

Torque 156Nm @ 4,000rpm

Fuel economy, combined 6.6L / 100km

The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

Without Remorse

Directed by: Stefano Sollima

Starring: Michael B Jordan

4/5

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COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million