Dr Mohammed Al Ahbabi, director general of the UAE Space Agency, greets guests during The National Space Programme announcement in Abu Dhabi. Silvia Razgova for The National
Dr Mohammed Al Ahbabi, director general of the UAE Space Agency, greets guests during The National Space Programme announcement in Abu Dhabi. Silvia Razgova for The National

Space competitions will inspire students



ABU DHABI // The National Space Programme will play a key role in inspiring youth to get involved in science, technology, engineering and mathematics.

Speakers at the launch of the programme on Tuesday said that by providing students with the opportunity to get involved in space exploration the contest would engage UAE youth in subjects they might not otherwise take an interest in.

Dr Mohammed Al Ahbabi, director general of the UAE Space Agency, said they were using space to indirectly attract students to Stem (science, technology, engineering and mathematics) education.

“Competitions like these inspire students and get them hooked. We don’t tell them about the complexities of space study, but later on they learn about needing maths, physics, and other science subjects,” Dr Al Ahbabi said.

Mohammed Al Otaiba, Editor-In-Chief of The National, said that the programme's competitions would generate excitement not only among children but also adults.

“There is something about space, when you mention it eyes light up, in all age groups. The competitions now bring space within arm’s reach and make it accessible,” Mr Al Otaiba said.

With the space programme being open to any UAE student, he said the competitions were looking to include as much participation as possible. “This is a pan-UAE initiative looking to foster long-term partnerships.”

Attending the launch was Syeda Amna, who was covering the event for her high school’s newsletter. “It feels like a dream. All of a sudden you get an opportunity to go to the US to see your experiment launched. I am definitely applying,” said the 16-year-old from Cambridge High School in Abu Dhabi.

Syeda said her friends would also apply.

“It motivates young people to follow careers they are interested in, rather than following the mainstream careers laid down by others.”

Peter McGrath, director of global sales and marketing at Boeing Space Exploration, said the success of the first Genes in Space competition in the US proved the programme could encourage youth to engage with Stem subjects.

“What we have found first hand is space really inspires our youth and motivates the next generation of science, engineering and maths students,” Mr McGrath said.

With The National playing a leading role in launching the programme, Mr McGrath said the UAE competition would have a head start over the US version, which drew media coverage only during the award announcement. "When you have domestic media partners who can share the information to the public from the start, it gives more students a chance to get involved."

Mr Al Otaiba said it was the responsibility of The National to get the news of these experiments – usually confined to laboratories – out for everyone to see.

“We need to, and do, inform, inspire and engage the readers and the public.”

The National Space Programme was just one of the many space initiatives the UAE was using to inspire students, Dr Al Ahbabi said.

“We are bringing astronauts to classrooms, running space camps, giving students scholarships to study in space-related fields, and much more.”

He said the interest in space in the Emirati community had increased noticeably, with more people applying to study in space programmes and for jobs with the UAE Space Agency.

“I even had a father come in and tell me his son had to be the first Emirati sent to Mars. Even when we told him it was an unmanned mission, he insisted on writing a letter saying he had to be the first when the time came.

“It shows how motivated people are about space.”

tsubaihi@thenational.ae

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Engine: 2.0-litre 4-cyl turbo

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INVESTMENT PLEDGES

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Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
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HAEMOGLOBIN DISORDERS EXPLAINED

Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.

Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.

The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.

The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.

A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.

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Stars:Robert Pattinson

Director:Matt Reeves

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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 PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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