The Suez Canal as seen from the International Space Station. Photo: Sultan Al Neyadi
The Suez Canal as seen from the International Space Station. Photo: Sultan Al Neyadi
The Suez Canal as seen from the International Space Station. Photo: Sultan Al Neyadi
The Suez Canal as seen from the International Space Station. Photo: Sultan Al Neyadi

Sultan Al Neyadi hails Suez Canal as 'heart of global trade' in latest space picture


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Emirati astronaut Sultan Al Neyadi has hailed Egypt's Suez Canal as "the heart of global trade" after sharing a picture of the vast waterway captured from space.

The trailblazing space traveller said the key shipping link had "brought continents closer" for more than 150 years.

Dr Al Neyadi has helped put the region and its achievements in sharp focus with a series of photographs taken 400km above Earth.

He has built up an impressive photo album of stellar snapshots since arriving on the International Space Station on March 3.

"A view from space of the Suez Canal: Heart of global trade," wrote Dr Al Neyadi on X, formerly known as Twitter.

"This artificial waterway in Egypt connects the Red Sea to the Mediterranean Sea, and has brought continents closer for over 150 years."

About 12 per cent of global trade passes through the canal, which provides the shortest route between Asia and Europe.

Dr Al Neyadi is taking part in the Arab world's first long-duration space mission.

He is due to return to Earth within weeks, with a final date to be confirmed.

His previous eye-catching photography includes an active volcano in the Philippines as well as wildfires raging across Southern Europe and a cyclone as it gathered strength in the Arabian Sea.

He has also shared a wide variety of images of the UAE, including his hometown of Umm Ghafa in Al Ain.

Sultan Al Nayadi's photo album from space - in pictures

  • Wadis, or river valleys that are dry in winter months, in Yemen were pictured by UAE's Sultan Al Neyadi from the ISS on May 16, 2023. All photos: Nasa
    Wadis, or river valleys that are dry in winter months, in Yemen were pictured by UAE's Sultan Al Neyadi from the ISS on May 16, 2023. All photos: Nasa
  • The Yemeni cities of Little Aden and Aden, on the coast of the Arabian Sea near the Red Sea, pictured by UAE astronaut Sultan Al Neyadi on April 19, 2023.
    The Yemeni cities of Little Aden and Aden, on the coast of the Arabian Sea near the Red Sea, pictured by UAE astronaut Sultan Al Neyadi on April 19, 2023.
  • Sultan took a picture of Aden in Yemen on June 5. He described the country as "a land of endearing warmth, rich history, millennia-old civilisation, and architectural wonders".
    Sultan took a picture of Aden in Yemen on June 5. He described the country as "a land of endearing warmth, rich history, millennia-old civilisation, and architectural wonders".
  • The Dead Sea (left), on the border between the Middle Eastern nations of Israel and Jordan, and Amman (center), the capital of Jordan - captured by Dr Al Neyadi from the ISS on April 13, 2023.
    The Dead Sea (left), on the border between the Middle Eastern nations of Israel and Jordan, and Amman (center), the capital of Jordan - captured by Dr Al Neyadi from the ISS on April 13, 2023.
  • Sand dunes in the desert area along the Saudi Arabia-Oman border. The image was captured by UAE astronaut Sultan Al Neyadi on May 16, 2023.
    Sand dunes in the desert area along the Saudi Arabia-Oman border. The image was captured by UAE astronaut Sultan Al Neyadi on May 16, 2023.
  • The middle eastern nation of Oman and its Dhofar mountains on the coast of the Arabian Sea were pictured by UAE astronaut Sultan Al Neyadi on April 13, 2023.
    The middle eastern nation of Oman and its Dhofar mountains on the coast of the Arabian Sea were pictured by UAE astronaut Sultan Al Neyadi on April 13, 2023.
  • Wadis, or river valleys that are dry in winter months, in Yemen were captured by UAE astronaut Sultan Al Neyadi on May 16, 2023.
    Wadis, or river valleys that are dry in winter months, in Yemen were captured by UAE astronaut Sultan Al Neyadi on May 16, 2023.
  • The semi-arid city of Hama, Syria, was pictured by UAE astronaut Sultan Al Neyadi from the International Space Station on April 3, 2023.
    The semi-arid city of Hama, Syria, was pictured by UAE astronaut Sultan Al Neyadi from the International Space Station on April 3, 2023.
  • Sand dunes in the desert area along the Saudi Arabia-Oman border captured by Sultan Al Neyadi from the ISS on May 16, 2023.
    Sand dunes in the desert area along the Saudi Arabia-Oman border captured by Sultan Al Neyadi from the ISS on May 16, 2023.
  • Another image of wadis in Yemen taken by UAE's Sultan Al Neyadi on May 16, 2023.
    Another image of wadis in Yemen taken by UAE's Sultan Al Neyadi on May 16, 2023.
  • An image of the UAE and Oman from the International Space Station, captured by Emirati astronaut Sultan Al Neyadi. Photo: Sultan Al Neyadi/Twitter
    An image of the UAE and Oman from the International Space Station, captured by Emirati astronaut Sultan Al Neyadi. Photo: Sultan Al Neyadi/Twitter
  • Sultan Al Neyadi has shared an image of Abu Dhabi from space. Photo: Sultan Al Neyadi / Twitter
    Sultan Al Neyadi has shared an image of Abu Dhabi from space. Photo: Sultan Al Neyadi / Twitter
  • Dr Al Neyadi captured an image of his hometown of Umm Ghafa in Al Ain on April 12, 2023.
    Dr Al Neyadi captured an image of his hometown of Umm Ghafa in Al Ain on April 12, 2023.

UAE squad

Rohan Mustafa (captain), Ashfaq Ahmed, Ghulam Shabber, Rameez Shahzad, Mohammed Boota, Mohammed Usman, Adnan Mufti, Shaiman Anwar, Ahmed Raza, Imran Haider, Qadeer Ahmed, Mohammed Naveed, Amir Hayat, Zahoor Khan

Bharatanatyam

A ancient classical dance from the southern Indian state of Tamil Nadu. Intricate footwork and expressions are used to denote spiritual stories and ideas.

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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.”

About Proto21

Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
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Updated: August 07, 2023, 10:18 AM