A rover on Mars that has been hunting for signs of life is preparing for a trek to the rim of a 4 billion year-old crater, where it could uncover mysteries of the planet’s geologic history.
The Perseverance rover, a $2.7 billion Nasa mission, has been studying the floor and river delta of the Jezero crater for the past 30 months, collecting rocks that suggested the site once hosted a lake.
On Monday, its journey towards the crater rim begins at an elevation of 300 metres, a journey that will involve the rover climbing steep slopes of up to 23 degrees.
“Our samples are already an incredibly scientifically compelling collection, but the crater rim promises to provide even more samples that will have significant implications for our understanding of Martian geologic history,” said Eleni Ravanis, one of the crater rim campaign science leads.
“This is because we expect to investigate rocks from the most ancient crust of Mars.
“These rocks formed from a wealth of different processes, and some represent potentially habitable ancient environments that have never been examined up close before.”
The crater rim, which was formed by the powerful impact that created the Jezero crater billions of years ago, holds valuable information about Mars’s past.
Unlike the sedimentary rocks Perseverance studied on the crater floor, which were shaped by ancient water activity, the rim is expected to host materials that were ejected during the impact.
These materials could include rocks from deeper beneath Mars’s crust, offering a chance to study unaltered material that has not been shaped by surface processes like water erosion.
The rover has travelled 29km and collected 22 rocks so far, with more expected to be stored away as the mission continues.
Nasa is working with the European Space Agency to bring back the samples, in an ambitious return mission that will be finished by the end of this decade.
Scientists are excited about the rocks collected at the river delta, which are the first sedimentary rocks to be discovered on a planet other than Earth.
These rocks are formed by minerals and organic particles often found in water-rich environments.
Finding them on Mars suggests the planet used to have water, meaning the conditions could have existed to support microbial life.
“Among these rock cores are likely the oldest materials sampled from any known environment that was potentially habitable,” said Tanja Bosak, a geobiologist at the Massachusetts Institute of Technology in the US and a member of Perseverance’s science team.
“When we bring them back to Earth, they can tell us so much about when, why and for how long Mars contained liquid water and whether some organic, prebiotic and potentially even biological evolution may have taken place on that planet.”
The rover arrived on the planet in 2021 as part of the most expensive mission ever developed, which also included the Ingenuity helicopter.
Ingenuity made history as the first aircraft to achieve powered flight on another planet, and completed more than 70 successful flights.
Initially designed for just five flights, it exceeded expectations and continued to operate until its final flight on January 18 this year, when one of its rotor blades was damaged.
RESULTS
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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.”
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
Persuasion
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Company profile
Company name: Dharma
Date started: 2018
Founders: Charaf El Mansouri, Nisma Benani, Leah Howe
Based: Abu Dhabi
Sector: TravelTech
Funding stage: Pre-series A
Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
Bio:
Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
Favourite Hobby: Serving poor people
Favourite Book: The Alchemist by Paulo Coelho
Favourite food: Fish and vegetables
Favourite place to visit: London
The biog
Name: Timothy Husband
Nationality: New Zealand
Education: Degree in zoology at The University of Sydney
Favourite book: Lemurs of Madagascar by Russell A Mittermeier
Favourite music: Billy Joel
Weekends and holidays: Talking about animals or visiting his farm in Australia
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Uefa Champions League semi-final, first leg
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Liverpool v Barcelona, Tuesday, May 7, 11pm
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