Dr Ahmad Belhoul Al Falasi, Minister of Education and chairman of UAE Space Agency, right, at a session held by the UN Committee on the Peaceful Uses of Outer Space on June 19, in Vienna. Photo: UAE Space Agency
Dr Ahmad Belhoul Al Falasi, Minister of Education and chairman of UAE Space Agency, right, at a session held by the UN Committee on the Peaceful Uses of Outer Space on June 19, in Vienna. Photo: UAE Space Agency
Dr Ahmad Belhoul Al Falasi, Minister of Education and chairman of UAE Space Agency, right, at a session held by the UN Committee on the Peaceful Uses of Outer Space on June 19, in Vienna. Photo: UAE Space Agency
Dr Ahmad Belhoul Al Falasi, Minister of Education and chairman of UAE Space Agency, right, at a session held by the UN Committee on the Peaceful Uses of Outer Space on June 19, in Vienna. Photo: UAE S

UAE passes UN space committee leadership to Egypt


Sarwat Nasir
  • English
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The UAE has handed over leadership of a UN committee that focuses on peaceful uses of space to Egypt.

Omran Sharaf, who was the director of the UAE’s mission to Mars and later appointed the Assistant Minister of Foreign Affairs and International Co-operation for Advanced Science and Technology, handed over the chairmanship to Dr Sherif Sedky, chief of the Egyptian Space Agency, on Tuesday.

Mr Sharaf led the UN Committee on the Peaceful Uses of Outer Space (Copuos) for two years after being appointed in 2022.

The committee has been in operation since 1959 and is one of the UN's largest.

It has 100 member states and plays an important role in peaceful uses of space, encouraging international co-operation and recommending laws and policies that support space exploration.

“It has been a remarkable two years since the UAE chaired Copuos,” said Mr Sharaf.

"The UAE's positive and constructive leadership of Copuos underscores its international efforts to enhance security and stability in space exploration and the development of space technologies, ultimately contributing to improving life on Earth."

The handover took place at the 67th session of the committee being held in Vienna, Austria, until June 28.

These sessions are being held at a critical time in a new modern space era, as more countries are looking to establish bases on the Moon.

Geopolitical tensions are also increasingly influencing space activities, with nations vying for strategic advantages and asserting dominance in the final frontier.

Experts have voiced concerns over whether a country could claim resources on the Moon as their property if they were to reach there first, adding complexity to international space law and co-operation.

The first UN Conference on Sustainable Lunar Activities was held on the sidelines of the Copuos session this year, which discussed the US-led Artemis programme and China's International Lunar Research Station (ILRS) - both of which aim towards exploring the lunar surface.

The US developed an international agreement on responsible lunar exploration called the Artemis Accords, signed by more than 40 countries, including the UAE and Saudi Arabia.

But the accords are not yet legally-binding and nations like China and Russia are unlikely to become signatories, with former Russian space chief Dmitry Rogozin labelling the agreement as “too US-centric”.

Salem Butti Al Qubaisi, director-general of the UAE Space Agency, took part in a panel discussion at the conference on lunar activities.

"Common practices is one of the things we want to see more of. Our success that we built in the space sector is by getting partnership internationally... and hopefully we can see that start between both the Artemis Accords and the ILRS," he said.

The UAE Space Agency also shared details of its Abu Dhabi Space Debate, the second edition of the conference that will be held in December.

The conference will address pressing challenges in the space sector, emphasising the importance of international co-operation and scientific research.

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 bio

Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home

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A typical week's training for Sebastian, who is competing at the ITU Abu Dhabi World Triathlon on March 8-9:

  • Four swim sessions (14km)
  • Three bike sessions (200km)
  • Four run sessions (45km)
  • Two strength and conditioning session (two hours)
  • One session therapy session at DISC Dubai
  • Two-three hours of stretching and self-maintenance of the body

ITU Abu Dhabi World Triathlon

For more information go to www.abudhabi.triathlon.org.

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Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association
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Power: 563hp @ 5,000rpm

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Avatar: Fire and Ash

Director: James Cameron

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

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Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

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4th ODI, January 16

The years Ramadan fell in May

1987

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Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

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Name: Thndr
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Updated: June 20, 2024, 2:16 PM