The UAE has been chosen to lead a UN committee working to promote peaceful use of space.
The country will lead the UN Committee on the Peaceful Uses of Outer Space, with Omran Sharaf, the Emirati engineer who led its successful Mars mission, serving as the committee's director for 2022 and next year.
The committee has been in operation since 1959 and is one of the largest at the UN. It has 100 member states and plays an important role in peaceful uses of space, encouraging international co-operation and recommending laws and policies that support space exploration.
President Sheikh Mohamed said he was proud of Mr Sharaf and congratulated him on being elected.
“The UAE continues to make notable contributions to the space sector and we wish Omran every success in his new role,” he said.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, also expressed his pride over the UAE's achievement and said it was an honour to have Mr Sharaf appointed.
“I am proud of the UAE's victory as chairman of the United Nations Committee on the Peaceful Uses of Outer Space,” he said.
“I am proud of the son of the Emirates, Omran, who has honourably held this high international role.
“The youth of the Emirates have brought us to space, are leading global files and are running international institutions.”
News of the UAE's election comes as some countries seek to use space for military purposes.
It’s a great honour for the Emirates to take the chair of COPUOS
Sarah Al Amiri,
chairwoman of the UAE Space Agency
The use of weaponry and military technology in space has caused concern among experts over the years, as countries such as Russia, India and China perform anti-satellite missile tests. Some nations have launched an increasing number of spy satellites.
Sarah Al Amiri, Minister of State for Public Education and Future Technology and chairwoman of the UAE Space Agency, said: “It’s a great honour for the Emirates to take the chair of Copuos, particularly as we founded our space programme on international partnerships and collaboration and continue to place these partnerships at the core of our space sector development.”
Mr Sharaf previously represented the UAE on the outer space committee and on the International Committee on Global Navigation Satellite Systems.
He said this was a “tremendous chance” to serve the global space sector.
“As both a young nation and a relatively new entrant to the space sector, we have benefited from the amazing work of the pioneers who have gone before us,” he said.
“Alongside that heritage, we have also found scope to innovate and challenge what have become accepted norms and we look forward to bringing a spirit of open dialogue and co-operation but also seeking to define solutions and new ways of looking at some of the emerging challenges and opportunities facing our sector and, indeed, humanity.”
The committee is behind one of the most notable space treaties, the Outer Space Treaty of 1967, which has been signed by more than 105 countries so far, including the UAE.
The treaty outlines peaceful uses of space, including low-Earth orbit, the Moon and other space bodies.
However, experts have been voicing concerns for the past few years about some countries using space for the “wrong reasons”.
During the Global Aerospace Summit in Abu Dhabi last week, Maj Michel Friedling, head of the French Space Command, said space was no longer peaceful and immune from politics and war.
“The Outer Space Treaty of 1967 has allowed for the case of peaceful coexistence. And bridges were made between East and West during these decades,” said Mr Friedling.
“But space is and will remain a key factor of economic strategy and military advantage for those who master space and those who know how to use space services.
“So, tensions on Earth will reflect in space and it's already the case.”
The militarisation includes using weapons in space, carrying out cyber attacks on satellites, using technology that jams communications and possessing a large fleet of intelligence, surveillance and reconnaissance satellites.
Since Russia’s invasion of Ukraine in late February, a number of cyber attacks have been carried out on satellites operating over the country, often disconnecting its internet and communication services and cutting off the Ukrainian people from the wider world.
Elon Musk made his Starlink satellites available to Ukraine but warned that they could become targets.
Anti-satellite missile, or ASAT, tests use military technology to destroy spacecraft. They are a concern because they create high levels of debris that could endanger astronauts and satellites.
They are also considered a threat because such missile technology could be used in an armed conflict.
In November, Russia carried out an ASAT test in which it destroyed one of its satellites, creating thousands of pieces of space debris.
India ordered an ASAT test in 2019 in an operation called the Mission Shakti, resulting in high levels of space debris.
China destroyed one of its satellites in 2007 and the US followed a year later with a similar operation.
But the US government recently committed to ending ASAT tests and has called for a global agreement to urge other nations to follow its lead.
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The view from The National
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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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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MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
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