Since the foundation of the UAE Space Agency a little more than five year ago, we have been rigorously preparing for this special moment – the launch of the first Emirati astronaut into space. It is both a historic achievement and the marker of the UAE’s next phase of space exploration and scientific excellence.
On Wednesday at 5.56pm UAE time, Hazza Al Mansouri will be launched to the International Space Station (ISS), making ours the 19th country to do so and the 38th to participate in a human spaceflight mission. Mr Al Mansouri will stay on the station for an eight-day space expedition as part of the UAE Astronaut Programme.
As he departs the Earth's atmosphere from the Baikonur Cosmodrome in Kazakhstan, Mr Al Mansouri will be propelled not only into space, but also into history – serving forever as an inspiration to all Emiratis and young people throughout the Middle East. While aboard the ISS, he will participate in five video calls with youngsters as well as the wider public. He will answer questions about his journey, life aboard the space station and the various experiments that he will be conducting.
This direct communication between Mr Al Mansouri and young Emiratis will not only motivate the next generation of space pioneers but highlight the importance of investing in space science and exploration as means to accelerating our nation’s development. It will also contribute to humanity’s efforts to address the Earth’s most pressing challenges in food security, energy efficiency, resource utilisation, and climate change.
The UAE leadership’s interest in space science dates back to the mid-1970s, when Sheikh Zayed, the Founding Father, met three Apollo 17 astronauts and declared to the entire world that there is no limit to his country's ambition. We are today one step closer to realising Sheikh Zayed’s dream of establishing the UAE as an international leader in space, humanity’s final frontier.
Mr Al Mansouri’s mission will pave the way for future generations to explore space, conduct advanced scientific experimentation and collaborate with nations from around the world to improve life on Earth. Aboard the ISS, he will conduct and monitor 16 biological, physical and geological experiments in the microgravity environment. The results of his work will then be compared with replicated experiments performed back home.
This will not only advance the UAE’s scientific and research capabilities but provide new data and materials to be incorporated into curriculums at institutions of higher education across the nation, driving the sector forward and better preparing the students of tomorrow to meet future challenges.
The experiments that he will conduct aboard the ISS include studying the effect of microgravity on the growth of cells, microorganisms and genes, seed germination rates, fungi, algae, antibiotics on bacteria, and basic chemical reactions in space. He will monitor and conduct tests on the palm seeds that were sent to the ISS in July to observe the seeds’ behaviour, their ability to absorb water in zero gravity and examine the potential for planting them in a Martian environment. He will also participate in exercises to measure time perception in microgravity.
As the first astronaut from the Arab region to participate in such research, Mr Al Mansouri will bring back enormous amounts of data and be able to share his experiences with new audiences. His findings will contribute to our long-term objective of establishing human settlements on Mars.
While being aboard the ISS, he will provide a detailed tour of the station in Arabic so that speakers of the language – from all walks of life – can experience his journey as if they were with him.
Mr Al Mansouri’s mission is a historic achievement for the UAE and the entire Arab world. There may only be two other people accompanying him in the Soyuz rocket, including Russian commander Oleg Skripochka and American astronaut Jessica Meir. But there is little doubt that he will be carrying with him the prayers and dreams of millions around the world.
Dr Ahmad Bin Abdullah Humaid Belhoul Al Falasi is Minister of State for Higher Education and Advanced Skills and chairman of the UAE Space Agency
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Griselda
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ARGENTINA SQUAD
Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez
SPECS
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PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Kamindu Mendis bio
Full name: Pasqual Handi Kamindu Dilanka Mendis
Born: September 30, 1998
Age: 20 years and 26 days
Nationality: Sri Lankan
Major teams Sri Lanka's Under 19 team
Batting style: Left-hander
Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)
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.”
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