It is the busiest year in space exploration for the UAE, with another ambitious mission on the horizon.
The UAE Space Agency has finalised the science objectives and spacecraft design for a mission to the asteroid belt that lies between Mars and Jupiter.
The Emirates hopes to launch the spacecraft in 2028 on a six-year journey to the main asteroid belt.
The mission was first announced in 2021, but details have been revealed in a paper that will be presented to a conference in the US in June.
The National breaks down everything you need to know about the UAE's mission to the asteroid belt.
What exactly is the mission?
The spacecraft, whose name has not yet been announced, will aim to study seven asteroids.
It will journey past six space rocks, gathering data as it goes, before attempting a landing on a seventh.
To reach the belt, it will use gravity assistance from Venus, Earth and Mars.
It may capture images of Venus, sometimes called Earth's evil twin because it has a similar size and structure, but with a surface temperature of up to 400°C.
The project will be run by the UAE Space Agency, with the University of Colorado Boulder's Laboratory for Atmospheric and Space Physics helping in its development.
The same university helped the agency's Hope probe achieve its mission to Mars.
The space agency hopes to boost the private space sector in the UAE through its latest mission.
Start-ups and established companies will build about 50 per cent of the spacecraft, boosting the national economy.
Why the asteroid belt?
Scientists are interested in the asteroid belt because it contains remnants of the solar system and could give clues into how Earth and other planets were formed.
Nasa estimates that it contains between 1.1 million and 1.9 million asteroids larger than 1km in diameter, and millions more smaller ones.
“Early in the history of the solar system, the gravity of newly formed Jupiter brought an end to the formation of planetary bodies in this region and caused the small bodies to collide with one another, fragmenting them into the asteroids we observe today,” Nasa's website explains.
The seven asteroids that the UAE spacecraft will explore are 10253 Westerwald, 623 Chimaera, 13294 Rockox, 88055, 23871, 59980. The craft will then attempt to land on 269 Justitia.
Asteroid 623 Chimaera is the largest leftover piece from the C-type Chimaera family and is one of the most ancient objects in the solar system.
The 269 Justitia is another mysterious rock with a reddish hue and possible origins in the distant solar system.
Apart from the scientific value, Nasa has previously estimated that the mineral wealth in the belt's asteroids is equivalent to about $100 billion for every person on Earth today.
How will this help scientists?
Scientists hope that the mission will be able to answer several questions.
These include learning more about the origin and evolution of water-rich asteroids, what their chemical make-up reveals about the belt's evolution and if they are linked to specific meteorites.
To help unlock these mysteries, the spacecraft will capture data to reveal the geologic history and volatile content of the asteroids.
It will also investigate the interior structure of 269 Justitia and study the temperatures and thermophysical properties of several asteroids.
Scientists know that the belt has water-rich asteroids because of previous missions and discoveries made by ground-based telescopes.
Nasa's Dawn spacecraft, launched in 2007, found water-bearing minerals on the surface of Vesta, the second largest body in the asteroid belt.
It also found abundant water ice on Ceres, another large body in the belt.
Nasa's Jupiter-bound Galileo spacecraft also beamed back images of asteroids in the belt in 1991.
What is the timeline?
The UAE Space Agency hopes to launch the spacecraft in early 2028.
It will perform a series of fly-bys and gravity assists at Venus, Earth and Mars before flying past its first asteroid in early 2030.
A sequence of six asteroid passes will be performed throughout 2033, with a landing attempt on 269 Justitia in April 2034.
The spacecraft will have large solar arrays and solar electric propulsion.
The mission will be the UAE's space programme's most challenging yet, with a total journey of 3.6 billion kilometres — seven times the distance the Hope probe travelled to reach Mars in February 2021.
Other asteroids
Asteroids are not only found in the main asteroid belt.
There are also trojan asteroids, which share an orbit with a larger planet.
Nasa launched its Lucy spacecraft in 2021, which will visit eight asteroids over 12 years to study the evolution of the solar system.
It will fly past one main belt asteroid and seven trojan asteroids.
There are also near-Earth asteroids, which are rocks that pass close to Earth.
Last year, a Nasa spacecraft successfully deflected an asteroid by crashing into one of its rock's moons.
The test aimed to show that technology could be used to prevent an asteroid threat to Earth, if needed.
Results
5pm: Reem Island – Conditions (PA) Dh80,000 (Turf) 1,600m; Winner: Farasah, Antonio Fresu (jockey), Musabah Al Muhairi
5.30pm: Sir Baniyas Island – Maiden (PA) Dh80,000 (T) 1,400m; Winner: SSR Ghazwan, Antonio Fresu, Ibrahim Al Hadhrami
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: Astral Del Sol, Sean Kirrane, Ibrahim Al Hadhrami
6.30pm: Al Maryah Island – Maiden (PA) Dh80,000 (T) 2,200m; Winner: Toumadher, Dane O’Neill, Jaber Bittar
7pm: Yas Island – Handicap (PA) Dh80,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
7.30pm: Saadiyat Island – Handicap (TB) Dh80,000 (T) 2,400m; Winner: Celestial Spheres, Gary Sanchez, Ismail Mohammed
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
WORLD RECORD FEES FOR GOALKEEPERS
1) Kepa Arrizabalaga, Athletic Bilbao to Chelsea (£72m)
2) Alisson, Roma to Liverpool (£67m)
3) Ederson, Benfica to Manchester City (£35m)
4) Gianluigi Buffon, Parma to Juventus (£33m)
5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m
Zayed Sustainability Prize
UAE currency: the story behind the money in your pockets
Pathaan
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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.”
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
Recipe: Spirulina Coconut Brothie
Ingredients
1 tbsp Spirulina powder
1 banana
1 cup unsweetened coconut milk (full fat preferable)
1 tbsp fresh turmeric or turmeric powder
½ cup fresh spinach leaves
½ cup vegan broth
2 crushed ice cubes (optional)
Method
Blend all the ingredients together on high in a high-speed blender until smooth and creamy.
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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