If the growing space debris problem is not adequately addressed within the next 50 years, satellite and space junk could cause a chain reaction of collisions, creating a cataclysmic breakdown of global communications systems and causing trillions of dollars in damages, a leading expert in the US has warned.
“The Kessler Syndrome is going to come true,” said John L Crassidis, a professor of innovation and space debris expert at the University at Buffalo in western New York.
He was referring to Nasa scientist and astrophysicist Donald Kessler, who, in the late 1970s, first raised concerns and projections about the problem of space junk.
“If the probability of a collision is so great that we can’t put a satellite in space, then we’re in trouble,” said Mr Crassidis, who worked for Nasa from 1994 to 1996, and still works alongside the space agency as well as the US Air Force and other government entities to monitor space debris.
His warning comes days after Anu Ojha, a director with the UK's Space Agency, shared similar sentiments about the need to “urgently” police the number of objects orbiting Earth.
According to various estimates, there are about 10,000 satellites in orbit as of 2023 and more than 100 trillion untracked pieces of old satellites still circling the planet.
In recent years, the number of satellites being launched into orbit has spiked, as companies like SpaceX capitalise on the ability to launch satellites in a cost-effective manner.
The big problems, according to Mr Crassidis, are the satellites that are either secretive due to national defence reasons or unaccounted for due to their age.
There’s also the issue of varying policies and enforcement guidelines in different countries.
He pointed to an incident in 2009, when a deactivated Russian communications satellite, Kosmos 2251, collided with a US commercial satellite, Iridium.
“That debris field was crazy,” he said, referring to the aftermath of the collision which created even more space junk, increasing the potential for more collisions.
In 2021, a Russian missile destroyed an obsolete Russian satellite as part of a test, but it resulted in so much debris that astronauts and cosmonauts aboard the International Space Station had to undertake emergency procedures to stay safe.
“That’s the stuff I’m worried about – those pieces can go right through an astronaut,” said Mr Crassidis.
Back in October, in an unprecedented move, the US Federal Communications Commission (FCC) announced that it would be issuing its first ever space debris fine, a penalty of $150,000 to Dish Network, for failing to comply with deorbiting regulations required by US law.
“This is a breakthrough settlement,” said FCC enforcement bureau chief Loyaan Egal. “It makes it very clear that the FCC has strong enforcement authority and capability to enforce its vitally important space debris rules.”
Mr Crassidis, however, cautioned that although the fine was a step in the right direction, it is not by any means a fix to the space debris problem.
“I thought it should have been higher,” he said, referring to the fine. “It’s peanuts to them; it was really small.”
According to Nasa, there are currently two conventional ways to deal with obsolete space satellites: the first method uses the last bit of fuel in the devices to slowly bring them out of orbit, allowing them to eventually burn up in the Earth’s atmosphere, and the other option involves sending the satellite into a higher orbit where it won’t be able to cause problems.
Sometimes, however, as Mr Crassidis points out, technical glitches, miscalculation of fuel requirements and secrecy with regard to spy satellites can create problems with tracking, and therefore increase the likelihood of collisions.
There are efforts under way from the international scientific community involving the potential use of nets, harpoons, robotic arms and even magnets to deal with the growing space junk problem, but most of those solutions are in the early test stages, and not cost effective.
Britain’s Space Minister George Freeman recently proposed a global system of rules to regulate space involving Kitemarks on satellites that would hypothetically ensure any new satellite going into orbit would meet the standards necessary to ensure they don’t pose a danger to other satellites.
That idea, according to Mr Freeman, enjoyed the support of both Switzerland and Canada, but it’s not clear yet if it will receive worldwide acceptance – an ongoing problem faced by many of these proposals, according to Mr Crassidis.
“The most practical thing we can do is to better characterise and track the debris better,” he said, noting that his company, XAnalytix Systems, operates in that particular area, and his ongoing research at the University at Buffalo allows him to research the problem while also encouraging students to do so as well.
“We're going to pass this problem along to them,” he said, referring to students.
“We want to improve the debris tracking models so we can ultimately track everything better.”
Although not directly tied to the issue of space debris, the Artemis Accords, an international treaty spearheaded by Nasa, does provide a foundation for the problem to be addressed.
The accords, signed by 33 nations, including the UAE, Saudi Arabia, India, UK and Canada, seek to create a shared vision of peaceful space co-operation.
“Preserving a safe and sustainable environment in space is critical for both public and private activities … Nasa and partner nations will agree to plan for the mitigation of orbital debris, including the safe, timely and efficient passivation and disposal of spacecraft at the end of their missions,” reads part of the agreement.
As for Mr Crassidis, he welcomes the potential for co-operation on the space junk issue, but said more nations need to be on the same page.
“We have to share information,” he said, acknowledging the difficulty of that approach in an increasingly volatile geopolitical environment. “It’s not going to work until you get all countries willing to buy into that.”
Company%20profile
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UAE FIXTURES
October 18 – 7.30pm, UAE v Oman, Zayed Cricket Stadium, Abu Dhabi
October 19 – 7.30pm, UAE v Ireland, Zayed Cricket Stadium, Abu Dhabi
October 21 – 2.10pm, UAE v Hong Kong, Zayed Cricket Stadium, Abu Dhabi
October 22 – 2.10pm, UAE v Jersey, Zayed Cricket Stadium, Abu Dhabi
October 24 – 10am, UAE v Nigeria, Abu Dhabi Cricket Oval 1
October 27 – 7.30pm, UAE v Canada, Zayed Cricket Stadium, Abu Dhabi
October 29 – 2.10pm, Playoff 1 – A2 v B3; 7.30pm, Playoff 2 – A3 v B2, at Dubai International Stadium.
October 30 – 2.10pm, Playoff 3 – A4 v Loser of Play-off 1; 7.30pm, Playoff 4 – B4 v Loser of Play-off 2 at Dubai International Stadium
November 1 – 2.10pm, Semifinal 1 – B1 v Winner of Play-off 1; 7.30pm, Semifinal 2 – A1 v Winner of Play-off 2 at Dubai International Stadium
November 2 – 2.10pm, Third place Playoff – B1 v Winner of Play-off 1; 7.30pm, Final, at Dubai International Stadium
Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%204.4-litre%20twin-turbo%20V8%20with%2048V%20mild%20hybrid%20system%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E544hp%20at%205%2C500rpm%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E750Nm%20at%201%2C800-5%2C000rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20auto%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh700%2C000%20(estimate)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Elate%20November%3C%2Fp%3E%0A
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
Getting%20there%20and%20where%20to%20stay
%3Cp%3EEtihad%20Airways%20operates%20seasonal%20flights%20from%20Abu%20Dhabi%20to%20Nice%20C%C3%B4te%20d'Azur%20Airport.%20Services%20depart%20the%20UAE%20on%20Wednesdays%20and%20Sundays%20with%20outbound%20flights%20stopping%20briefly%20in%20Rome%2C%20return%20flights%20are%20non-stop.%20Fares%20start%20from%20Dh3%2C315%2C%20flights%20operate%20until%20September%2018%2C%202022.%C2%A0%3C%2Fp%3E%0A%3Cp%3EThe%20Radisson%20Blu%20Hotel%20Nice%20offers%20a%20western%20location%20right%20on%20Promenade%20des%20Anglais%20with%20rooms%20overlooking%20the%20Bay%20of%20Angels.%20Stays%20are%20priced%20from%20%E2%82%AC101%20(%24114)%2C%20including%20taxes.%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
Florida: The critical Sunshine State
Though mostly conservative, Florida is usually always “close” in presidential elections. In most elections, the candidate that wins the Sunshine State almost always wins the election, as evidenced in 2016 when Trump took Florida, a state which has not had a democratic governor since 1991.
Joe Biden’s campaign has spent $100 million there to turn things around, understandable given the state’s crucial 29 electoral votes.
In 2016, Mr Trump’s democratic rival Hillary Clinton paid frequent visits to Florida though analysts concluded that she failed to appeal towards middle-class voters, whom Barack Obama won over in the previous election.
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
MATCH INFO
Uefa Champions League last 16, first leg
Liverpool v Bayern Munich, midnight, Wednesday, BeIN Sports
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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.”
COMPANY%20PROFILE
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
RESULT
Everton 2 Huddersfield Town 0
Everton: Sigurdsson (47'), Calvert-Lewin (73')
Man of the Match: Dominic Calvert-Lewin (Everton)