Space tourists could “distract crews and cause disruptions” on orbital stations, Russia's space chief has said.
Roscosmos director general Dmitry Rogozin said a dedicated area on space stations for such tourists was required to minimise disruption to proper missions.
He said the Russian space agency would be adding a module for tourists to the next station it develops.
He spoke at a press conference on the opening day of the International Astronautical Congress in Dubai on Monday. His comments came as Jeff Bezos' Blue Origin and Elon Musk's SpaceX take more VIP tourists into orbit.
The last thing the crew needs is a distraction from their professional duties and that is what we need to think about
Dmitry Rogozin,
Roscosmos
“On one hand, it is important to take non-professional astronauts ... to popularise space and add achievements to the economy,” he said.
“On the other hand – and this point is frequently being made by professionals – the space tourist may not be aware of what’s going around them, which may result in one of them doing something that may disrupt the mission.
“The last thing the crew needs is a distraction from their professional duties and that is what we need to think about.”
Space tourism is starting to take off, with the US leading the way. Russia is also stepping up its plans around developing a space tourism programme.
This month, a Russian actress and director travelled to the International Space Station to shoot a film.
The International Astronautical Congress is taking place at the Dubai World Trade Centre until Friday.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, toured the exhibition and was joined by the UAE’s four astronauts.
He received a quick brief on the Hakuto-R lander that will deliver the UAE’s Rashid rover to the Moon's surface next year.
A replica of the lander, built by private Japanese company iSpace, was on display at the event.
Heads of other space agencies, including those from the US, Japan, India, Canada and Europe, also provided updates of their respective national space programmes.
Pam Melroy, deputy administrator at Nasa, said the launch of the James Webb Space Telescope remained on schedule for December.
It is the world’s most advanced telescope and took 20 years to complete.
After years of delays, a launch date of December 18 was finalised and the telescope was delivered to the launch site at the French Guiana Space Centre in South America.
“I'm also very excited about the James Webb Space Telescope. I felt like I held my breath for many days waiting for the telescope to recently be delivered to French Guiana,” Ms Melroy said.
“It’s undergoing checking right now but everything looks good for a launch later in December.
“I think it's going to be incredible because we're going to be looking back 13.5 billion years, into a part of the history of the cosmos that we know very little about – the formation of stars and galaxies. I can't wait to see what we're going to find out.”
Private space companies are strongly represented at the congress.
Spartan Space, a French start-up, was displaying an inflatable lunar habitat.
Called Euro Hab, the habitat could host up to four astronauts and is designed to offer a secondary shelter while their spacecraft is on the lunar surface.
“Our goal is that it can be used as a safe haven if the primary habitat is failing,” Mohamed Makthoum, from Spartan Space, told The National.
“It would act like a shelter. For the lunar habitat like the Apollo era, the astronaut could only explore to a certain degree before the light support system on their suit failed, so they would have to come back again.
“The purpose of this habitat is that you put something at the edge of their limit and the astronaut could explore without worries.”
The balloon will be installed on the lander and inflate automatically once the command is sent.
Multiple airlocks will keep lunar dust out, with solar panels on the outside to recharge the habitat.
TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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OPINIONS ON PALESTINE & ISRAEL
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
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.”
WISH
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The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Twin%20electric%20motors%20and%20105kWh%20battery%20pack%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E619hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E1%2C015Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20auto%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3EUp%20to%20561km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EQ3%20or%20Q4%202022%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh635%2C000%3C%2Fp%3E%0A
The specs: 2018 Genesis G70
Price, base / as tested: Dh155,000 / Dh205,000
Engine: 3.3-litre, turbocharged V6
Gearbox: Eight-speed automatic
Power: 370hp @ 6,000rpm
Torque: 510Nm @ 1,300rpm
Fuel economy, combined: 10.6L / 100km
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