UAE adventurer travels to edge of space on Blue Origin flight


Sarwat Nasir
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A UAE adventurer travelled to the edge of space on a Blue Origin flight on Saturday.

Hamish Harding, 50, known for his adrenalin-fuelled stunts, was launched on a New Shepard rocket from rural West Texas, along with five other passengers.

The entire experience, from launch to landing, lasted about 10 minutes.

The fully reusable suborbital vehicle lifted off at 5.26pm UAE time, carrying the crew capsule towards the final frontier.

Once the spacecraft separated from the booster at 5.29pm, it reached 106 kilometres above the ground, bringing the passengers a few minutes of weightlessness as well as stunning views of Earth and the darkness of space.

The capsule then descended towards the Texas desert under three parachutes and retro engines, bringing the passengers safely back to the ground at 5.36pm.

Apollo 16 moonwalker Charles Duke was also at the launch site and wished the passengers good luck.

Mr Harding said that he wanted to go to space since the age of 5, after watching videos of Neil Armstrong and Buzz Aldrin walking on the Moon.

“I’ve been looking up at it [space] for many, many years now and I’ve always wanted to get a chance to look the other way — from up there, down here,” he told The National days before the flight.

Mr Harding has lived in the UAE for more than a decade and is the chairman of Action Aviation, which provides aircraft brokerage services to business jet and helicopter owners.

Last year, he dived into the Mariana Trench in the Pacific, the deepest point on Earth. In 2019, he flew around the world in a record-breaking flight with Nasa astronaut Terry Virts.

Other passengers on the flight were investor and NS-19 crew member Evan Dick, electrical engineer and former Nasa test engineer Katya Echazarreta (also the first Mexican-born woman to fly into space), civil production engineer Victor Correa Hespanha, deep-sea diver Victor Vescovo and adventurer Jaison Robinson.

Blue Origin, a space tourism company founded by Amazon chief Jeff Bezos, has now launched 26 people to the edge of space on its New Shepard flights.

Mr Bezos went on a joyride himself on the first passenger flight last year. Other notable customers have included Star Trek actor William Shatner and TV personality Michael Strahan.

The company has not revealed how much a passenger ticket costs, but its competitor Virgin Galactic charges $450,000 per seat, though flights are not yet operational.

At auction last year, Blue Origin sold one of its seats for $28 million.

Mr Harding could soon be only one of many Blue Origin customers from the UAE.

The company’s regional adviser, AzurX, is planning a series of select events around space flight sales in the Emirates.

Anna Hazlett, chief executive of the company, said Dubai has the potential to become a global centre for space tourism.

"We're excited to develop the road map for private human space flight in the UAE and we look forward to working with our strategic partners to offer private space flights and experiences to UAE citizens, residents and visitors," she told The National.

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What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

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Wayne Rooney 53
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Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.

Updated: June 04, 2022, 2:35 PM