Jared Isaacman was nominated by US president-elect Donald Trump to be the next Nasa administrator. AFP
Jared Isaacman was nominated by US president-elect Donald Trump to be the next Nasa administrator. AFP
Jared Isaacman was nominated by US president-elect Donald Trump to be the next Nasa administrator. AFP
Jared Isaacman was nominated by US president-elect Donald Trump to be the next Nasa administrator. AFP

Billionaire Jared Isaacman as new Nasa chief to 'boost UAE-US space relations'


Sarwat Nasir
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Billionaire Jared Isaacman’s appointment as Nasa chief is expected to further strengthen UAE and US relations in the space sector, a UAE Space Agency official has said.

Fatima Al Shamsi, acting director of policy and international relations at the agency, told The National that Mr Isaacman’s wealth of experience in the private space sector could benefit the agency’s projects, such as the Space Economic Zone, a dedicated free zone where private companies can set up operations.

Mr Isaacman is the chief executive of payment processing company Shift4 and founder of the Polaris programme who led two private missions with SpaceX, including Polaris Dawn, in which he performed the first civilian spacewalk.

He was nominated by US president-elect Donald Trump on Wednesday as the next Nasa administrator, an offer that Mr Isaacman has accepted.

“He comes from the private sector and one of our priority areas is the enablement of that sector through different initiatives, such as the Space Economic Zone,” Mr Al Shamsi said. “So, I think this is something that is very good for us.”

Fatima Al Shamsi, acting director of policy and international relations at the UAE Space Agency.
Fatima Al Shamsi, acting director of policy and international relations at the UAE Space Agency.

The UAE and the US have enhanced ties in the space sector over the years, with significant milestones during Jim Bridenstrine’s tenure as Nasa's chief under the Trump administration.

It was during this period that the UAE signed the Artemis Accords in 2020, a pivotal agreement that paved the way for the nation’s involvement in Nasa’s lunar Gateway project. Under that agreement, the Mohammed bin Rashid Space Centre is developing an airlock module in exchange for sending an Emirati to the station on a future mission.

The two countries have also collaborated on missions to the International Space Station, with MBRSC securing a six-month mission with Nasa for Dr Sultan Al Neyadi, who is also Minister of State for Youth Affairs, last year.

With Mr Isaacman taking charge after Mr Trump’s inauguration, it could translate into more opportunities for UAE companies and government bodies like the MBRSC to work alongside Nasa in joint missions or commercial ventures.

“Whatever changes that happen in the political scene, we consider the US as a strategic partner to the UAE,” said Ms Al Shamsi.

“We have multiple projects with them and that’s whether in terms of the UAE space agency or with the Mohammed bin Rashid Space Centre.

“But, yes, it (Mr Isaacman’s appointment) will have a positive impact to the relationship.”

Tapping into expertise

Anna Hazlett, founder of space advisory firm AzurX, told The National that the soon-to-be Nasa chief is a “seasoned entrepreneur” who would emphasise the vital connection between the public and private sector – a vision that aligns closely with the UAE's ambitions in space.

“With initiatives like the UAE Space Agency's emphasis on public-private partnerships and the growing ecosystem of start-ups and investors in the region, the UAE is well-positioned to benefit from a Nasa leader with deep expertise in private enterprise.”

“His expected focus on commercialisation could pave the way for stronger collaborations between the UAE and the US, accelerating technology transfer, investment and joint missions.”

Mr Isaacman is a close ally of Elon Musk, having bought an entire passenger flight from SpaceX as part of the Inspiration4 mission, which orbited Earth for three days in 2021.

He is working with SpaceX on the remaining missions of his Polaris Programme, which includes a ride on the first orbital flight by Starship, a mega-powerful deep-space rocket.

However, it is not yet clear if Mr Isaacman would still be participating in future Polaris missions because of his upcoming role as Nasa chief.

Mr Trump's nomination of Mr Isaacman signals a continued focus on the commercial space sector in the US.

“It's important to note that it is US government policy to support and rely more upon commercial space companies and services,” Michelle Hanlon, executive director of the Centre for Air and Space Law at the University of Mississippi in the US, told The National.

“I think Isaacman is well-suited to assure that Nasa uses commercial services efficiently, effectively and diplomatically.

“I also think that Isaacman demonstrates a real desire to increase access to space and bring as many people as possible to space with him. I think that he will be terrific in building public enthusiasm for space.”

Ms Al Shamsi was speaking to The National at a media briefing on Thursday, being held to highlight the second edition of the Abu Dhabi Space Debate, taking place on December 10 and 11.

The event is set to gather space leaders and experts to discuss the latest trends and policies in the sector, as well as participate in workshops.

THE BIO

Favourite author - Paulo Coelho 

Favourite holiday destination - Cuba 

New York Times or Jordan Times? NYT is a school and JT was my practice field

Role model - My Grandfather 

Dream interviewee - Che Guevara

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

The biog

Hometown: Cairo

Age: 37

Favourite TV series: The Handmaid’s Tale, Black Mirror

Favourite anime series: Death Note, One Piece and Hellsing

Favourite book: Designing Brand Identity, Fifth Edition

Dubai World Cup factbox

Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)

Most wins by a jockey: Jerry Bailey(4)

Most wins by an owner: Godolphin(9)

Most wins by a horse: Godolphin’s Thunder Snow(2)

Heather, the Totality
Matthew Weiner,
Canongate 

Unresolved crisis

Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.

Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.

The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.

UAE currency: the story behind the money in your pockets
Key features of new policy

Pupils to learn coding and other vocational skills from Grade 6

Exams to test critical thinking and application of knowledge

A new National Assessment Centre, PARAKH (Performance, Assessment, Review and Analysis for Holistic Development) will form the standard for schools

Schools to implement online system to encouraging transparency and accountability

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

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.

Uefa Nations League: How it works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

PRO BASH

Thursday’s fixtures

6pm: Hyderabad Nawabs v Pakhtoon Warriors

10pm: Lahore Sikandars v Pakhtoon Blasters

Teams

Chennai Knights, Lahore Sikandars, Pakhtoon Blasters, Abu Dhabi Stars, Abu Dhabi Dragons, Pakhtoon Warriors and Hyderabad Nawabs.

Squad rules

All teams consist of 15-player squads that include those contracted in the diamond (3), platinum (2) and gold (2) categories, plus eight free to sign team members.

Tournament rules

The matches are of 25 over-a-side with an 8-over power play in which only two fielders allowed outside the 30-yard circle. Teams play in a single round robin league followed by the semi-finals and final. The league toppers will feature in the semi-final eliminator.

Fresh faces in UAE side

Khalifa Mubarak (24) An accomplished centre-back, the Al Nasr defender’s progress has been hampered in the past by injury. With not many options in central defence, he would bolster what can be a problem area.

Ali Salmeen (22) Has been superb at the heart of Al Wasl’s midfield these past two seasons, with the Dubai club flourishing under manager Rodolfo Arrubarrena. Would add workrate and composure to the centre of the park.

Mohammed Jamal (23) Enjoyed a stellar 2016/17 Arabian Gulf League campaign, proving integral to Al Jazira as the capital club sealed the championship for only a second time. A tenacious and disciplined central midfielder.

Khalfan Mubarak (22) One of the most exciting players in the UAE, the Al Jazira playmaker has been likened in style to Omar Abdulrahman. Has minimal international experience already, but there should be much more to come.

Jassim Yaqoub (20) Another incredibly exciting prospect, the Al Nasr winger is becoming a regular contributor at club level. Pacey, direct and with an eye for goal, he would provide the team’s attack an extra dimension.

A Long Way Home by Peter Carey
Faber & Faber

The President's Cake

Director: Hasan Hadi

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

Rating: 4/5

Updated: December 05, 2024, 3:12 PM