Hasan Al Redaini, communications officer for Mubadala, is travelling with the Solar Impulse 2 team. Christopher Pike / The National
Hasan Al Redaini, communications officer for Mubadala, is travelling with the Solar Impulse 2 team. Christopher Pike / The National

Solar Impulse plane ‘at home amidst innovation hub, Silicon Valley’



Since my last column, Solar Impulse 2 has successfully completed two further legs of its round-the-world journey.

After the aircraft landed at Moffett Airfield in Mountain View, California last week, we spent time mapping the next leg of the journey, monitoring weather conditions and making minor repairs.

Moffett Airfield is situated between Palo Alto and Cupertino, which make up part of Silicon Valley – the world hub for innovation and development of cutting-edge technologies.

The airfield is like its own hub of innovation and collaboration. It includes the Ames Research Centre, which has led Nasa in conducting world-class research and development in aeronautics, exploration technology and science for more than 75 years.

The airfield is leased to Google, which uses it for aeronautics, aviation and space research.

The Google-Nasa partnership will help to push research and innovation to further limits in thefield of aeronautics and space. Across from the airfield is Lockheed Martin Space Systems, which conducts military and space research.

Being surrounded by the cutting-edge technology and vibrant activity at Moffett Airfield reminded me of Nibras Aerospace Park in Al Ain, being developed by Mubadala and Abu Dhabi Airports Company.

Once complete, Nibras will truly be the UAE’s first aerospace hub, including all elements of the aerospace value chain, vested in innovation, research and development, and will help to establish a sustainable and global aerospace sector in the UAE.

From California, Si2 took off for Phoenix, Arizona. After a 16-hour flight, Si2 landed in Phoenix on Tuesday at 8am UAE time. It left California nearly three years to the day after Solar Impulse 1 began its cross-US flight from California in 2013.

Our current flight is following the same path across the United States, with the ultimate goal of getting to New York City as soon as possible so that preparations can begin for the Atlantic crossing.

I also would like to congratulate Masdar on its 10-year anniversary and its great achievements in the domain of renewable energy over the past decade, marking their success and reputation as a global player.

newsdesk@thenational.ae

Hasan Al Redaini, 25, works for group communications at Mubadala and is travelling with the Solar Impulse 2 team. Follow him on Twitter at @hasanrtw.

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

Persuasion
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RESULTS
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KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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BEETLEJUICE BEETLEJUICE

Starring: Winona Ryder, Michael Keaton, Jenny Ortega

Director: Tim Burton

Rating: 3/5

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

MATCH INFO

Manchester City 3 (Sterling 46', De Bruyne 65', Gundogan 70')

Aston Villa 0

Red card: Fernandinho (Manchester City)

Man of the Match: Raheem Sterling (Manchester City)

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Sui Dhaaga: Made in India

Director: Sharat Katariya

Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav

3.5/5