The UAE Moon mission has the power to “inspire the country and stimulate the economy”, Europe’s space chief said in Davos on Wednesday.
The UAE will attempt to land a rover on the celestial body in October in what will be the Arab world’s first mission to the Moon.
“Going to the Moon is a big step. But it has many aspects. One is, it unites a country. It inspires the people. It stimulates the economy and the industry that is producing the technology to do that,” said European Space Agency Director General Josef Aschbacher.
“And of course, people will be very proud when the moment happens. And I think this is something quite exciting,” he said.
The ESA is a long-time supporter of the UAE’s space ambitions and helped it train its first astronaut, Hazza Al Mansouri.
Last year, the Mohammed Bin Rashid Space Centre and the ESA agreed to work on the establishment of a long-term collaboration.
Space travel a symbol of UAE progress
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The Hope probe was built by 150 Emirati engineers, researchers and scientists. Photo: Mohammed bin Rashid Space Centre -

The first image of Mars taken by the UAE's Hope probe, which arrived at the Red Planet on February 9. EPA -

Nora Al Matrooshi the first Arab woman to train as an astronaut. Photo: MBRSC -
Hazza Al Mansouri, left, Nora Al Matrooshi, Mohammed Al Mulla and Sultan Al Neyadi together for the first time at Nasa's Johnson Space Centre in Houston. Photo: MBRSC -
Sarah al Amiri at the launch of a new project to explore the main asteroid belt, with a Venus fly-by, from 2028. Photo: Ministry of Presidential Affairs / Dubai Media Office -
Ministers and VIPs listen as Sarah Al Amiri sets out details of the five-year mission. Photo: Ministry of Presidential Affairs / Dubai Media Office -
The final prototype of the UAE's Rashid lunar rover. Photo: Mohammed bin Rashid Space Centre -

Emirati engineers test parts of the Rashid rover, which will be sent to the Moon in 2022. Photo: MBRSC -

Blue Origin's rocket New Shepard blasts off carrying Star Trek actor William Shatner, 90, on billionaire Jeff Bezos company's second suborbital tourism flight, October 13, 2021. Reuters -
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai on a visit to the 72nd International Astronautical Congress at Dubai World Trade Centre on October 25, 2021. Sheikh Mohammed was accompanied, among others, by Emirati astronauts Hazza Al Mansouri, Sultan Al Neyadi and graduates from the second batch of the UAE Astronaut Programme, Nora Al Matrooshi and Mohammed Al Mulla. Wam -
The opening ceremony for the International Astronautical Congress took place on October 25 at Dubai World Trade Centre. Photo: Dubai Media Office
“The UAE is a very innovative country and is really driving technology and wants to be at the forefront,” said Mr Aschbacher.
“And space, of course, [this] is the symbol for exactly that. On our side, I see huge opportunities to really work together.
Mr Aschbacher spoke of a recent conversation he had at Davos with Sarah Al Amiri, Minister of State for Public Education and Future Technology and chairwoman of the UAE Space Agency.
“And after the formal panel session, we spoke and she said, ‘Look, I really would like to intensify this co-operation even further, because we would like to work more with Europe’,” he said.
“So, the European Space Agency and myself, I'm also very interested to work more and deeper with the UAE because it's … a new space country, with a lot of excellence. And I would be more than happy to deepen this co-operation.”
Agency focus on sustainability
The ESA is also working on sustainability in space, particularly where space junk and satellites are concerned.
While sustainability efforts are currently focused among EU member states, there will be a need to bring in more countries, said Mr Aschbacher.
“It's a big topic for us. So, I would like to propagate a sustainable use of our orbits or of space out there,” he added.
“And there's one initiative I am now starting with my member states is that we want to create a zero-debris policy in orbit, meaning that if you put a satellite up there, you have to get the satellite out in order to not pollute or not to overcrowd these orbits because they are finite in terms of, of dimensions.
“Policies in this direction are not yet decided. But that's certainly something I'm striving towards in order to have sustainability applied not only on the ground for climate change, but also up in space.”
The war in Ukraine has disrupted some of the ESA’s plans and projects as it is no longer working with Russia, a major space power.
“This is my day job at the moment, to make sure that untangling the co-operation with Russia is going according to plan,” he said.
“It will make us stronger, because we will be more independent and therefore building up our own capabilities.
“I'm very confident [this will take] maybe two or three years or so to build up this independence. But we will come out of this crisis stronger than before.”
The Europeans are also playing a key role in Nasa’s Artemis manned programme to explore the Moon.
“We are part of the SLS rocket. There is one very important element called the ‘European Service Module’, which is powering the Orion space capsule,” he said.
“And without that, the Moon mission cannot take place. You actually see it also on the rocket … there’s a national logo. There's also the ESA logo, which is proof to our strong co-operation.
“Therefore Nasa does rely on us, and I'm very proud of that and I'm very happy about that.”
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
RESULTS
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
The specs
Engine: 2.2-litre, turbodiesel
Transmission: 6-speed auto
Power: 160hp
Torque: 385Nm
Price: Dh116,900
On sale: now
In%20the%20Land%20of%20Saints%20and%20Sinners
Global state-owned investor ranking by size
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1. |
United States |
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2. |
China |
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3. |
UAE |
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4. |
Japan |
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5 |
Norway |
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6. |
Canada |
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7. |
Singapore |
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8. |
Australia |
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9. |
Saudi Arabia |
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10. |
South Korea |
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
COMPANY PROFILE
57%20Seconds
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The specs
Engine: 4.0-litre, six-cylinder
Transmission: six-speed manual
Power: 395bhp
Torque: 420Nm
Price: from Dh321,200
On sale: now
Explained
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
SPEC%20SHEET%3A%20APPLE%20TV%204K%20(THIRD%20GENERATION)
AUSTRALIA SQUAD
Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.
SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
START-UPS%20IN%20BATCH%204%20OF%20SANABIL%20500'S%20ACCELERATOR%20PROGRAMME
Neighbourhood Watch
Kill%20Bill%20Volume%201
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Ukraine
Capital: Kiev
Population: 44.13 million
Armed conflict in Donbass
Russia-backed fighters control territory
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
Company%C2%A0profile
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RESULTS
6.30pm UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m
Winner Final Song, Christophe Soumillon (jockey), Saeed bin Suroor (trainer).
7.05pm Handicap (TB) $135,000 (Turf) 1,000m
Winner Almanaara, Dane O’Neill, Doug Watson.
7.40pm Handicap (TB) $175,000 (D) 1,900m
Winner Grand Argentier, Brett Doyle, Doug Watson.
8.15pm Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m
Winner Major Partnership, Patrick Cosgrave, Saeed bin Suroor.
8.50pm Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m
Winner Gladiator King, Mickael Barzalona, Satish Seemar.
9.25pm Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m
Winner Universal Order, Richard Mullen, David Simcock.
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.
Brief scores:
Toss: Rajputs, elected to field first
Sindhis 94-6 (10 ov)
Watson 42; Munaf 3-20
Rajputs 96-0 (4 ov)
Shahzad 74 not out
Directed by: Craig Gillespie
Starring: Emma Stone, Emma Thompson, Joel Fry
4/5
UAE%20v%20West%20Indies
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.”
Sweet%20Tooth
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