The launch of the Axiom-4 mission, in which India's first astronaut in more than four decades was due to fly into space, has been postponed.
Shubhanshu Shukla, a former fighter pilot, was set to fly into orbit on Wednesday but the privately organised mission was aborted after a fuel leak was detected on the SpaceX rocket.
The launch was already delayed from Tuesday because of unsuitable weather.
The flight, operated by Houston’s Axiom Space and using SpaceX’s Falcon 9 rocket and Crew Dragon capsule, is to be historic for India’s space sector, coming 41 years after Rakesh Sharma became the first Indian to travel to space in 1984 on board a Soviet Soyuz spacecraft.
But SpaceX said the mission, in which Mr Shukla will spend two weeks in the International Space Station, would be postponed after engineers discovered the leak in the rocket’s liquid oxygen (LOx) system during post-test inspections.
“Standing down from tomorrow’s Falcon 9 launch of Ax-4 to the space station to allow additional time for SpaceX teams to repair the LOx leak identified during post-static fire booster inspections,” the company posted on X. “Once complete, and pending Range availability, we will share a new launch date.”
Dr V. Narayanan, chairman of the Indian Space Research Organisation (Isro), said the problem had been identified during a seven-second hot fire test of the Falcon 9 booster at the launch pad.
“Based on the discussion on this topic by the Isro team with the experts of Axiom and SpaceX, it has been decided to correct the leak and carry out a necessary validation test before clearing for the launch,” he said.
Inspiration
Mr Shukla said becoming an astronaut was his childhood dream after being inspired by Rakesh Sharma. However, the lack of an active Indian human space flight programme at the time made it seem like an impossible goal. Instead, Mr Shukla pursued a career in aviation, motivated by an air show he attended as a school pupil.
“I grew up reading about him in textbooks and listening to his stories from space,” he said of Mr Sharma in a video posted by Axiom Space on Monday. “I was deeply, deeply impressed by him … I would say I have been extremely fortunate and lucky to have got the opportunity to fly.”
While Mr Shukla will become India’s second man in space, he will be the first through a commercial mission.
Anna Hazlett, founder of AzurX, a UAE-based space consultancy and investment firm, said such missions reflect the growing importance of public-private partnerships in space flight.
“Private space companies like Axiom Space are transforming human space flight, allowing nations without ISS partnerships to send astronauts to orbit,” she said.
“This model democratises space access, accelerates national space ambitions and fosters global collaboration. It helps create a more diverse space economy, which is what the new space sector is all about.”
India’s participation in the mission also reflects its increasing ambitions in space. While the country is preparing for its own crewed mission, Gaganyaan, within the 2020s, flying a citizen to the ISS with Axiom offers an opportunity to gain experience.
Indian food on board
The Indian government, along with its defence research wing DRDO, has prepared traditional meals for Mr Shukla’s time in orbit.
Moong dal halwa (desert with lentils, ghee and milk), gajar ka halwa (carrot pudding), and aam ras (desert made with the pulp of a ripe mango) are among the space-friendly dishes he will carry to the station.
Mr Shukla also plans on practising yoga while in space, after taking inspiration from Mr Sharma who famously did yoga and described his view of India from orbit as “saare jahan se achha” (better than the entire world).
“I would probably demonstrate a few poses of yoga while we are up on the station, but a more important aspect is that we need to practise that while we are on the ground so that we have a healthy body, which can house a healthy mind and allows us to execute this mission in our full spirits,” said Mr Shukla.
He has trained for several months with his international crew mates: Ax-4 commander and veteran Nasa astronaut Peggy Whitson, Slawosz Uznanski-Wisniewksi from Poland and Tibor Kapu from Hungary.
“I do feel that I have exceptional crew mates,” Mr Shukla added. "I will have these crew members for this one flight but after this mission these are going to be my friends for life."
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
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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.”
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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