When it comes to space exploration, there is little doubt that things have changed since the intense competition of the Space Race between the US and the Soviet Union last century. From a time when a single rocket launch could capture the attention of millions, and when superpowers developed their own astronauts, spacecraft and technology in carefully guarded isolation, the world is seeing the emergence of a different model: the so-called New Space Economy (NSE).
Characterised by the involvement of entrepreneurs, private tech companies and venture capital – as well as an increasing number of countries, big and small – the NSE is a departure from the time when government-backed space agencies and aerospace contractors dominated. Some of this change is economic, some of it is technical but it is a development that looks set to stay.
For a glimpse of how this new paradigm is unfolding, a close look at this week’s Make it in the Emirates event in Abu Dhabi reveals how a relative newcomer to the space sector is both embracing and shaping this change. On Wednesday it was announced that an Earth observation satellite manufacturing centre is to be established in the UAE capital. In a collaboration between Abu Dhabi Investment Office and the emirate's Space 42 tech company, the centre will help create a national space workforce with hands-on industrial expertise.
The day before, Space42 revealed that is will begin to manufacture prototypes of platforms that will operate thousands of metres above the Earth's surface this year. And on Friday, the Mohammed bin Rashid Space Centre and US-based Firefly Aerospace signed a strategic agreement to provide payload delivery services for the Rashid 2 Rover, part of the Emirates Lunar Mission scheduled for next year.
These are just the latest examples of how UAE businesses and state-backed investors are working in partnership to explore the opportunities presented by the space sector in a 21st-century way. Another is the country's focus on developing worker expertise in components, maintenance and the AI-powered technology needed to operate successful space missions. For example, an academy run by the UAE Space Agency offers graduates in Stem subjects – science, technology, engineering and maths – the chance to sharpen their skills for a career in the space sector.
Thriving in the NSE is also about enhancing national priorities – building scientific and technical expertise as part of a profitable sector – while collaborating with other countries and private businesses. Emirati astronauts have trained in Russian and American facilities and in March, Etihad-SAT – the UAE's first Synthetic Aperture Radar satellite – was successfully launched onboard a SpaceX Falcon 9 rocket.
The world is seeing the emergence of a different model: the so-called New Space Economy
Amid the long list of positives associated with this approach, including increased economic diversification and the creation of future-proof technologies, there remain issues to be faced. Critiques of the NSE model have raised concerns about the need to update outdated international space treaties and the high entry bar for developing nations. Here too however, the UAE is shaping the change with the Emirates operating as a commercial hub with strong economic links to the global south.
Owing to its relative ubiquity, the days when a space flight would have people glued to their TV screens are probably gone, while they become more common place and available online. But as more countries look at the UAE’s path for inspiration to take part in the “new space” race, that sense of achievement and excitement will only grow.
WandaVision
Starring: Elizabeth Olsen, Paul Bettany
Directed by: Matt Shakman
Rating: Four stars
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How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
FIXTURES
Thursday
Dibba v Al Dhafra, Fujairah Stadium (5pm)
Al Wahda v Hatta, Al Nahyan Stadium (8pm)
Friday
Al Nasr v Ajman, Zabeel Stadium (5pm)
Al Jazria v Al Wasl, Mohammed Bin Zayed Stadium (8pm)
Saturday
Emirates v Al Ain, Emirates Club Stadium (5pm)
Sharjah v Shabab Al Ahli Dubai, Sharjah Stadium (8pm)
Expo details
Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia
The world fair will run for six months from October 20, 2020 to April 10, 2021.
It is expected to attract 25 million visits
Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.
More than 30,000 volunteers are required for Expo 2020
The site covers a total of 4.38 sqkm, including a 2 sqkm gated area
It is located adjacent to Al Maktoum International Airport in Dubai South
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
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