Europe has declared itself “back in business” in the space race, after a two-year launcher crisis that sent some manufacturers fleeing to Elon Musk's SpaceX.
The new Ariane 6 rocket made its maiden flight from French Guiana late on Tuesday, taking a fleet of satellites into Earth orbit.
Although it suffered a glitch that meant a mid-air restart did not work as planned, the launch was hailed as a milestone by European space bosses.
“Europe is back. This powers Europe back into space,” said Josef Aschbacher, the director general of the European Space Agency, who said a second launch is planned for later this year.
ESA's Ariane 6 rocket takes off – in pictures
Europe has lacked options to launch its own spacecraft since ties were severed with Russia in 2022, when it invaded Ukraine.
The older Ariane 5 launcher flew its last mission last year, and the ESA has struggled to get the next generation of rockets off the ground.
Originally due to have its maiden flight in 2020, Ariane 6 was delayed by several years, partly due to the Covid-19 pandemic.
Musk competition
Only last month, the weather-monitoring service Eumetsat lost patience with the Ariane programme and hired SpaceX to launch its next satellite.
Although the ESA has also turned to Mr Musk's Falcon 9 rockets, Mr Aschbacher lashed out at the meteorologists for a decision he called “difficult to understand”.
“It was surprising that the decision was made before the launch has occurred,” he said after the Ariane 6 mission took off on Tuesday.
Mr Musk's SpaceX is the dominant player in the launch market and its superheavy rocket Starship is intended to one day carry people to the Moon or Mars.
The reusable Falcon 9 takes off dozens of times a year and upended a market once dominated by the defence industry, leaving Europe battling to catch up.
Philippe Baptiste, the president of the French space agency, CNES, which built the Ariane 6 launch facilities, said he stood by his view that using SpaceX for the weather satellite was a sign of “naivety”.
“We are talking about Europe's sovereignty, European access to space. You are not a space player if you don't have access to space,” he said.
“We are back in space, we are back in business.”
The three-stage Ariane 6 rocket is a joint venture between the pan-European Airbus and France's Safran, with parts made by hundreds of European companies.
France, Germany and Italy last year agreed to boost funding for Ariane and its sister launcher Vega C, which handles smaller payloads, amid shortfalls of more than €300 million ($324.7 million).
Tuesday's Ariane 6 flight, known as VA262, took off from Kourou in French Guiana at 4pm local time and released its first set of satellites an hour later.
The launch was declared a success although ESA reported an “unexpected result” in tests of the rocket's on-board technology.
Ariane 6 is designed to be able to restart its engine, known as Vinci, while in space, but this did not happen after a power unit shut down.
“We don't know why it stopped,” said Martin Sion, the chief executive of Arianegroup, who said the launch itself had been the main objective. “All the rest of the mission was according to plan.”
The next launch is planned for December. Arianespace says it already has an order book for a “wide range of missions into multiple orbits”.
The space push comes with French and EU officials eager to carve out a defence and industrial role for Europe that is independent of the US and China.
It also comes with European officials openly discussing the possibility of Donald Trump returning as US president, potentially putting relations under strain.
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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
The specs: 2019 Lincoln MKC
Price, base / as tested: Dh169,995 / Dh192,045
Engine: Turbocharged, 2.0-litre, in-line four-cylinder
Transmission: Six-speed automatic
Power: 253hp @ 5,500rpm
Torque: 389Nm @ 2,500rpm
Fuel economy, combined: 10.7L / 100km
Company%20profile
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UAE central contracts
Full time contracts
Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid
Part time contracts
Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma
Paatal Lok season two
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Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
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How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
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Saturday (UAE kick-off times)
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Sunday
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Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
MATCH INFO
What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae
Ant-Man and the Wasp
Director: Peyton Reed
Starring: Paul Rudd, Evangeline Lilly, Michael Douglas
Three stars
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
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- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UAE’s revised Cricket World Cup League Two schedule
August, 2021: Host - United States; Teams - UAE, United States and Scotland
Between September and November, 2021 (dates TBC): Host - Namibia; Teams - Namibia, Oman, UAE
December, 2021: Host - UAE; Teams - UAE, Namibia, Oman
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June, 2022: Hosts - Scotland; Teams - UAE, United States, Scotland
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February, 2023: Hosts - UAE; Teams - UAE, PNG, Nepal
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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
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
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