UAE's Rashid rover Moon mission launch confirmed for November 28


Sarwat Nasir
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The UAE has begun the countdown to the launch of the first Emirati mission to the Moon after a new date and time for lift-off was announced.

Japanese lunar exploration company ispace, which will deliver the UAE's Rashid rover on its Hakuto-R Mission 1 lander, has set a target launch date of November 28, with lift off at 12.46pm GST (9.46am UTC).

The launch window is subject to the weather.

The mission will lift off on a SpaceX Falcon 9 rocket from the Space Launch Complex 40 launch site in Cape Canaveral, Florida.

It is a historic mission for the UAE, Japan and private industry, with ispace on track to become the first company to carry out a commercial cargo mission to the Moon.

Takeshi Hakamada, founder of ispace, announced the new launch date on Thursday at mission control in Tokyo.

“Our first mission will lay the groundwork for unleashing the Moon’s potential and transforming it into a robust and vibrant economic system,” he said.

The countdown clock to the launch of the Hakuto-R Mission 1 lander, which will have the UAE's Rashid rover on board. Photo: ispace
The countdown clock to the launch of the Hakuto-R Mission 1 lander, which will have the UAE's Rashid rover on board. Photo: ispace

The Rashid rover is one of many government and commercial payloads that will travel to the Moon on Mission 1.

Weighing 10kg, the rover was built by a small team of Emiratis at the Mohammed bin Rashid Space Centre in Dubai.

The four-wheel rover will spend one lunar day, equal to 14 Earth days, on the Moon's surface to study its geology and lunar dust. It is expected to take thousands of images of its surroundings with high-resolution cameras.

Emirati engineers behind the mission are in Florida to make final preparations for the launch.

What happens on launch day?

On launch day, the Falcon 9 rocket will take the lander into orbit, from where it will begin its solo journey to the Moon.

The reusable rocket generates a thrust of more than 771 tonnes at sea level to blast off into space.

Mission milestones for Hakuto-R Mission 1 lunar lander. Photo: ispace
Mission milestones for Hakuto-R Mission 1 lunar lander. Photo: ispace

It is expected that the lander will reach the Moon by the end of April.

The mission will attempt to land on the Atlas Crater, on the south-eastern outer edge of the Mare Frigoris, or Sea of Cold.

“Careful consideration of the target site criteria included continuous sun-illumination duration and communication visibility from the Earth,” ispace said.

Busy times on the Moon

Ispace is one of several missions that have set eyes on the Moon.

Nasa's $4.1 billion Artemis 1 mission launched on Wednesday, after several delays caused by technical issues and two hurricanes.

US company Astrobotic Technology plans to launch its Peregrine lunar lander early next year, with payloads from eight countries.

If you go

Flights

Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.

The stay

Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.

Dubai World Cup factbox

Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)

Most wins by a jockey: Jerry Bailey(4)

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1,549 - goals scored in Premier League matches by Wenger's teams.
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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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Company: Rent Your Wardrobe 

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Updated: November 17, 2022, 9:22 AM