• An aerial view shows an H3 rocket carrying a land observation satellite lift off from the launching pad at Tanegashima Space Center on the southwestern island of Tanegashima, Kagoshima Prefecture, southwestern Japan March 7, 2023, in this photo taken by Kyodo. Mandatory credit Kyodo via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. MANDATORY CREDIT. JAPAN OUT. NO COMMERCIAL OR EDITORIAL SALES IN JAPAN
    An aerial view shows an H3 rocket carrying a land observation satellite lift off from the launching pad at Tanegashima Space Center on the southwestern island of Tanegashima, Kagoshima Prefecture, southwestern Japan March 7, 2023, in this photo taken by Kyodo. Mandatory credit Kyodo via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. MANDATORY CREDIT. JAPAN OUT. NO COMMERCIAL OR EDITORIAL SALES IN JAPAN
  • Japan's space agency ordered the rocket to self-destruct minutes after launch. EPA
    Japan's space agency ordered the rocket to self-destruct minutes after launch. EPA
  • The self-destruct command came after one of the second-stage engines failed to ignite. Reuters
    The self-destruct command came after one of the second-stage engines failed to ignite. Reuters
  • The failed attempt, which follows an aborted launch last month, represents a big blow to Japan's space agency. EPA
    The failed attempt, which follows an aborted launch last month, represents a big blow to Japan's space agency. EPA
  • The space agency said the self-destruct signal was sent after it became clear that the rocket could not complete its mission. Reuters
    The space agency said the self-destruct signal was sent after it became clear that the rocket could not complete its mission. Reuters

Japan destroys new H3 rocket after lift-off as second-stage engine fails


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Japan has destroyed a new rocket after one of the vehicle's engines failed to ignite.

The 57m H3 rocket lifted off from Tanegashima space port on Tuesday morning but received a self-destruct signal from Japan's space agency after a second-stage engine required to take it to its scheduled orbit failed.

The failed attempt, which follows an aborted launch last month, represents a big blow to the agency, which had suggested that the rocket made by Mitsubishi Heavy Industries (MHI) could be a cost-effective alternative in a growing global space industry market.

The rocket was carrying the Alos-3, a disaster management land observation satellite equipped with an experimental infrared sensor designed to detect North Korean ballistic missile launches.

Shares in MHI fell 1.8 per cent in morning trade.

A launch broadcast commentator from Japan's space agency said it had been decided that the rocket could not complete its mission, leading to the decision to send the self-destruct command.

“So, what happened? It's something we will have to investigate looking at all the data,” the commentator said.

Hirotaka Watanabe, a professor at Osaka University and expert in space policy, said that unlike the previous cancellation and postponement, “this time it was a complete failure”.

“This will have a serious impact on Japan's future space policy, space business and technological competitiveness,” Prof Watanabe said.

Elon Musk’s SpaceX has launched and remotely landed its Falcon orbital rockets since 2015.

Japan's H3 rocket has large parts that can be recycled and is more competitively priced, although the rocket cannot be landed and launched again.

Powered by a new simpler, lower-cost engine that includes 3D-printed parts, the rocket is designed to lift government and commercial satellites into Earth orbit.

It also meant to ferry supplies to the International Space Station.

As part of Japan's deepening co-operation with the US in space, the H3 is expected to eventually carry cargo to the Gateway lunar space station that Nasa plans to build as part of its programme to return people to the Moon, including Japanese astronauts.

MHI has estimated that the H3's cost per launch will be half of its predecessor, the H-II, helping it to win business in a global launch market increasingly dominated by SpaceX's reusable Falcon 9 rocket.

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Honeymoonish
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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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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
SECRET%20INVASION
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GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

UAE currency: the story behind the money in your pockets
The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

Know your Camel lingo

The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home

Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless

Asayel camels - sleek, short-haired hound-like racers

Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s

Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival

Company%20profile
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Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
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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
Fixture and table

UAE finals day: Friday, April 13 at Rugby Park, Dubai Sports City

  • 3pm, UAE Conference: Dubai Tigers v Sharjah Wanderers
  • 6.30pm, UAE Premiership: Dubai Exiles v Abu Dhabi Harlequins

 

UAE Premiership – final standings

  1. Dubai Exiles
  2. Abu Dhabi Harlequins
  3. Jebel Ali Dragons
  4. Dubai Hurricanes
  5. Dubai Sports City Eagles
  6. Abu Dhabi Saracens
Western Region Asia Cup T20 Qualifier

Sun Feb 23 – Thu Feb 27, Al Amerat, Oman

The two finalists advance to the Asia qualifier in Malaysia in August

 

Group A

Bahrain, Maldives, Oman, Qatar

Group B

UAE, Iran, Kuwait, Saudi Arabia

 

UAE group fixtures

Sunday Feb 23, 9.30am, v Iran

Monday Feb 25, 1pm, v Kuwait

Tuesday Feb 26, 9.30am, v Saudi

 

UAE squad

Ahmed Raza, Rohan Mustafa, Alishan Sharafu, Ansh Tandon, Vriitya Aravind, Junaid Siddique, Waheed Ahmed, Karthik Meiyappan, Basil Hameed, Mohammed Usman, Mohammed Ayaz, Zahoor Khan, Chirag Suri, Sultan Ahmed

The biog

Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.

His advice to anyone starting out in business is to have no fear as life is about taking on challenges.

“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.

"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”

Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.

He relaxes by spending time with his family at home, and enjoying his wife’s India cooking. 

The results of the first round are as follows:

Qais Saied (Independent): 18.4 per cent

Nabil Karoui (Qalb Tounes): 15.58 per cent

Abdelfattah Mourou (Ennahdha party): 12.88 per cent

Abdelkarim Zbidi (two-time defence minister backed by Nidaa Tounes party): 10.7 per cent

Youssef Chahed (former prime minister, leader of Long Live Tunisia): 7.3 per cent

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

While you're here

Trolls World Tour

Directed by: Walt Dohrn, David Smith

Starring: Anna Kendrick, Justin Timberlake

Rating: 4 stars

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Updated: March 07, 2023, 4:53 AM