• An artist's impression of the UAE's lunar rover called Rashid.
    An artist's impression of the UAE's lunar rover called Rashid.
  • Dr Hamad Al Marzooqi, project manager of the Emirates Lunar Mission at the Mohammed bin Rashid Space Centre. Chris Whiteoak / The National
    Dr Hamad Al Marzooqi, project manager of the Emirates Lunar Mission at the Mohammed bin Rashid Space Centre. Chris Whiteoak / The National
  • An artist's impression of iSpace's Hakuto-Reboot lunar lander. It will carry UAE's Rashid rover to the surface of the Moon in 2022.
    An artist's impression of iSpace's Hakuto-Reboot lunar lander. It will carry UAE's Rashid rover to the surface of the Moon in 2022.
  • The UAE aims to land the Rashid rover on the near side of the Moon due to its smoother surface.
    The UAE aims to land the Rashid rover on the near side of the Moon due to its smoother surface.
  • The far side of the Moon remains largely unexplored, but Nasa is turning its focus back to the lunar surface.
    The far side of the Moon remains largely unexplored, but Nasa is turning its focus back to the lunar surface.
  • The HAKUTO-R lander, which will deliver the UAE's Rashid rover to the lunar surface in 2022, is now in final stages of assembly.
    The HAKUTO-R lander, which will deliver the UAE's Rashid rover to the lunar surface in 2022, is now in final stages of assembly.
  • The ispace team completed the assembly of the lander's structure thermal model in April. Courtesy: ispace
    The ispace team completed the assembly of the lander's structure thermal model in April. Courtesy: ispace
  • The final assembly of the lander is being carried out in co-operation with the Ariane Group GmbH at the Ariane Group facility in Lampoldshausen, Germany. Courtesy: ispace
    The final assembly of the lander is being carried out in co-operation with the Ariane Group GmbH at the Ariane Group facility in Lampoldshausen, Germany. Courtesy: ispace
  • Using a lander and rocket that is already available helps Emirati engineers and scientists get quicker and easier access to space. Courtesy: ispace
    Using a lander and rocket that is already available helps Emirati engineers and scientists get quicker and easier access to space. Courtesy: ispace
  • The initial concept design of the Rashid rover. Courtesy: MBRSC
    The initial concept design of the Rashid rover. Courtesy: MBRSC
  • Rashid rover's thermal imager will analyse the Moon's properties through thermal energy. Courtesy: MBRSC
    Rashid rover's thermal imager will analyse the Moon's properties through thermal energy. Courtesy: MBRSC
  • The Langmuir probes on the rover will analyse the lunar surface charge and electric fields. Courtesy: MBRSC
    The Langmuir probes on the rover will analyse the lunar surface charge and electric fields. Courtesy: MBRSC
  • One of the rover's two high-resolution optical imagers that will take photos of the Moon. Courtesy: MBRSC
    One of the rover's two high-resolution optical imagers that will take photos of the Moon. Courtesy: MBRSC

UAE joins Nasa space treaty as global plans to explore the Moon and Mars take shape


Sarwat Nasir
  • English
  • Arabic

The UAE Space Agency has signed an agreement to be part of the Artemis Accords, an international treaty by US space agency Nasa that outlines responsible and peaceful space exploration.

Created earlier this year, the Accords set international standards of how the Moon should be explored and lists guidelines on activities such as mining on the Moon, releasing scientific data publicly, transparency with the public on policies and providing emergency assistance.

Nasa is moving forward with plans to establish a human base on the Moon and a lunar-orbiting space station through the Artemis programme.

The ultimate goal is to use the Moon as a base to send astronauts to Mars.

“Artemis will be the broadest and most diverse international human space exploration programme in history, and the Artemis Accords are the vehicle that will establish this singular global coalition,” Jim Bridenstine, Nasa administrator said.

“With today’s signing, we are uniting with our partners to explore the Moon and are establishing vital principles that will create a safe, peaceful, and prosperous future in space for all of humanity to enjoy.”

Other countries that have signed the Accords are Australia, Canada, Italy, Japan, Luxembourg and the United Kingdom.

we welcome this initiative Nasa has taken to strengthen the broad principles of peaceful human collaboration and co-existence in space

The pact will create opportunities for collaboration between agencies who also plan to reach the Moon.

The UAE is to launch a small rover to the near side of the Moon by 2024. Nasa will also launch a lunar mission, Artemis 1, in the same year, a crewed lunar fly-by in 2023 and send the first woman and next man on the surface by 2024.

The Accords also list “safety zones” on the Moon, where mining and exploration will take place.

The Moon is said to be rich in metals like iron and titanium, which can be used to further develop outer-space technology.

  • The official logo of the Emirates Lunar Mission
    The official logo of the Emirates Lunar Mission
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced the Emirates Lunar Mission on September 29. All photos courtesy of Sheikh Mohammed's Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced the Emirates Lunar Mission on September 29. All photos courtesy of Sheikh Mohammed's Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced plans for unmanned mission to the Moon by 2024. Courtesy: Sheikh Mohammed's Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced plans for unmanned mission to the Moon by 2024. Courtesy: Sheikh Mohammed's Twitter
  • The technical specifications of the Rashid rover. Courtesy of MBRSC
    The technical specifications of the Rashid rover. Courtesy of MBRSC
  • The UAE plans to send a lunar lander called Rashid to explore the Moon in the next four years. Courtesy: Getty Images
    The UAE plans to send a lunar lander called Rashid to explore the Moon in the next four years. Courtesy: Getty Images

UAE’s lunar mission aims to provide scientific and technological answers on how mobility on the surface can be improved and to find better astronaut suit materials.

“From agreeing on basic standards regarding the interoperability of systems through to underpinning important principles of safety and standards to guide operational excellence, the Accords help us to work together for the benefit of all,” said Sarah Al Amiri, UAE Minister of State for Advanced Technology and chairwoman of the UAE Space Agency.

“It is in this spirit that we welcome this initiative Nasa has taken to strengthen the broad principles of peaceful human collaboration and co-existence in space.”

While Nasa has received a lot of international support for its Artemis programme, the head of Russia’s space programme recently said the American space agency’s plans were “too US-centric” for Russia to participate.

Dmitry Rogozin, director-general of Roscosmos, also has not shown interest in becoming an Artemis Accords partner.

“The most important thing here would be to base this programme on the principles of international co-operation that we’ve all used [to fly the International Space Station]," Mr Rogozin said during a virtual press conference at the International Astronautical Congress on Monday.

“If we could get back to considering making these principles as the foundation of the programme, then Roscosmos could also consider its participation.”

However, he expressed in interest in using the docking gateway of Lunar Gateway – the lunar-orbiting space station Nasa is planning – in the future.

Mr Bridenstine said that Nasa and its international partners remained hopeful of working more closely with Russia.

PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

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UAE currency: the story behind the money in your pockets
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RESULT

Arsenal 2

Sokratis Papastathopoulos 45 4'

Eddie Ntkeiah 51'

Portsmouth 0

 

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

Director: Paul Weitz
Stars: Kevin Hart
3/5 stars

Company%20Profile
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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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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INDIA SQUAD

Rohit Sharma (captain), Shikhar Dhawan (vice-captain), KL Rahul, Suresh Raina, Manish Pandey, Dinesh Karthik (wicketkeeper), Deepak Hooda, Washington Sundar, Yuzvendra Chahal, Axar Patel, Vijay Shankar, Shardul Thakur, Jaydev Unadkat, Mohammad Siraj and Rishabh Pant (wicketkeeper)

The Lost Letters of William Woolf
Helen Cullen, Graydon House 

MATCH INFO

Champions League quarter-final, first leg

Ajax v Juventus, Wednesday, 11pm (UAE)

Match on BeIN Sports

The specs

Engine: 2.3-litre, turbo four-cylinder

Transmission: 10-speed auto

Power: 300hp

Torque: 420Nm

Price: Dh189,900

On sale: now

yallacompare profile

Date of launch: 2014

Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer

Based: Media City, Dubai 

Sector: Financial services

Size: 120 employees

Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)

FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

SPECS
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Getting there

The flights

Emirates and Etihad fly to Johannesburg or Cape Town daily. Flights cost from about Dh3,325, with a flying time of 8hours and 15 minutes. From there, fly South African Airlines or Air Namibia to Namibia’s Windhoek Hosea Kutako International Airport, for about Dh850. Flying time is 2 hours.

The stay

Wilderness Little Kulala offers stays from £460 (Dh2,135) per person, per night. It is one of seven Wilderness Safari lodges in Namibia; www.wilderness-safaris.com.

Skeleton Coast Safaris’ four-day adventure involves joining a very small group in a private plane, flying to some of the remotest areas in the world, with each night spent at a different camp. It costs from US$8,335.30 (Dh30,611); www.skeletoncoastsafaris.com

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching