The rivalry between SpaceX and Boeing has the hallmarks of David and Goliath.
One is a titan of industry, the poster-child of America’s ambitions to explore the cosmos and a key enabler of the Apollo programme that landed the first human being on the Moon.
The other is a young upstart venture run by an eccentric multibillionaire entrepreneur and made up of a rag-tag bunch of engineers, some of whom used to build water towers.
But out of a dream of landing a greenhouse on Mars using a converted Russian ballistic missile to kick-start human colonisation, SpaceX rose to the top of the world's burgeoning commercial space sector. It now challenges established aerospace legacy companies like Boeing for accolades and Nasa funding.
Nearly 50 years after Soviet cosmonaut Yuri Gagarin became the first person to journey into outer space, a duopoly on American human spaceflight is emerging between the two rivals, with both competing for the spotlight as Nasa seeks to return to the Moon and send astronauts to Mars for the first time.
The two companies have already competed in the high-stakes field of human spaceflight.
SpaceX beat Boeing on its own turf last year, defying expectations to become the first American mission to deliver astronauts to the International Space Station (ISS) since 2010.
A second crewed SpaceX mission to the orbital station is planned for later this month, and the company is also planning the first space flight crewed entirely by civilians.
I'm convinced the first person to step foot on Mars will arrive there riding a Boeing rocket.
The Inspiration4 mission will launch four people, including sponsor Jared Isaacman, into space on board a Crew Dragon capsule modified with an observation dome.
Boeing's Starliner spacecraft has yet to complete its second uncrewed test flight. Originally planned for last week, that mission has been put off, again, until May.
Plagued by software issues, the Starliner failed to rendezvous with the ISS during a 2019 flight in a major embarrassment for the company, which has had a hand in almost every crewed Nasa space mission.
The first Crew Dragon launch marked the end of an era in which only government-owned spacecraft were capable of making giant leaps for mankind in space.
The fortunes of Boeing and SpaceX rest on the success of two wildly different rockets, with each company hoping its design will help to usher in a new era in human space exploration.
Returning to the Moon
Nasa plans to land the first woman and the next man on the lunar surface by 2024, under its Artemis programme, and those astronauts will probably fly to the Moon on a Boeing rocket.
It is the prime contractor for the programme’s Space Launch System (SLS), a colossal rocket more powerful than anything Nasa has yet built.
In its final configuration, the 108-metre-tall craft is designed to carry a payload of 46 tonnes to the Moon with the aim of supporting exploration efforts.
The SLS project passed a significant development milestone this year when engineers successfully tested four of the spacecraft's giant engines, capping off a nearly year-long test campaign to validate the rocket's design.
But despite the recent successful test, SLS is now three years behind schedule and nearly $3 billion over budget.
Critics of the project say Nasa should move on from the expendable rocket's proven but expensive technologies, like its two solid fuel boosters.
The space agency this month began to review the affordability of the SLS. It has already spent more than $20bn on the project, with each future launch of the rocket priced at an additional $2bn.
The high costs associated with the traditional expendable design, similar to that of the shuttle programme of the 1980s, make the innovative offerings of commercial competitors such as SpaceX a tempting proposition. Its smaller but reusable Falcon Heavy rocket costs as little as $90 million to fly.
In another blow to Boeing’s lunar ambitions, lander designs from rivals SpaceX, Blue Origin and Dynetics were all chosen ahead of its own proposal for continued development under the Artemis programme.
The three winning designs were together awarded nearly a billion dollars in funding, well short of the $3.3bn Nasa had asked for to fund the landing section, which will actually carry astronauts down to the surface from the rocket – another set-back for the project.
SpaceX proposed a version of its Starship spacecraft to ferry passengers and cargo between lunar orbit and the surface.
It is the most radical of the three designs, and the lunar-optimised Starship could negate the need for the SLS, instead hitching a ride to our nearest celestial neighbour on the super heavy booster the company is developing.
This raises serious questions over the value of the Boeing-managed project, with many wondering why Nasa is still funding the SLS at all.
Former Nasa administrator Jim Bridenstine, who stepped down from his post as head of the space agency shortly after the SLS engine test in January, said last year that the Boeing spacecraft was “the only rocket that’s going to be human rated by 2024 that will take humans to the Moon”.
But since then, opposition to the project grew as costs ballooned.
The Bloomberg news agency’s editorial board in February published a scathing takedown of the SLS project, calling on President Joe Biden to scrap the heavy-lift rocket, citing spiralling costs and increasing delays.
With the programme still well behind schedule, Nasa may have to push back the ambitious 2024 Moon landing target put in place by the Trump administration.
Top Nasa officials regularly voiced doubts about the 2024 deadline, which was brought forward from 2028 by president Donald Trump shortly before the 50th anniversary of the first Moon landings.
President Biden gave his support to the agency’s goal of returning humans to the lunar surface after speculation about the new administration’s stance on the Artemis project.
Nasa’s Artemis missions are due to begin before the end of this year with an uncrewed flight around the Moon.
That flight is intended as a dry run for the 2024 mission carrying astronauts, which will then be followed by a later mission in which humans will spend about a week on the Moon.
Meanwhile, the development of SpaceX's Starship continues at breakneck speed, with the company conducting a flurry of flight tests at its facility in Southern Texas in recent months.
Although its tests frequently ended in spectacular fashion, with prototype Starships regularly bursting into unplanned fireballs during flight or while landing, SpaceX has ambitious targets for lunar exploration.
The company hopes to carry out the first commercial mission to the Moon and plans to fly Japanese entrepreneur Yusaku Maezawa and eight other civilians around the Moon in a Starship.
As with the Artemis programme, the mission will be preceded by an unmanned Starship flight.
To Mars
The ultimate goal of Nasa’s Artemis programme, however, is to prepare for the much more challenging task of landing humans on Mars.
Boeing and SpaceX have set their sights on this goal.
In 2016, Boeing's chief executive at the time, Dennis Muilenburg, threw down the gauntlet to Elon Musk.
"I'm convinced the first person to step foot on Mars will arrive there riding a Boeing rocket," he said at a public event hosted by The Atlantic magazine held in Chicago.
The SpaceX founder responded simply with a tweet: “Do it.”
The exchange kicked off a new kind of space race between the two companies, and Nasa is expected to exploit the rivalry, as it did with the crewed missions to the ISS, to stimulate healthy competition on innovation and cost.
Boeing hopes its SLS will be used for a manned Nasa mission to the Red Planet, and the US space agency is planning to make that happen in the late 2030s or early 2040s.
Mr Musk, who has said he does not care if his company is beaten to the milestone of landing the first humans on Mars, has frequently changed the target date for his company’s first manned mission there.
In March this year he told his 50 million Twitter followers that SpaceX would be landing rockets on the Martian surface “well before 2030”.
SpaceX is assembling the next prototype Starship, and Mr Musk recently unveiled the first test craft of its Super Heavy booster.
The company's founder says the next prototype Starship, SN15, will feature a range of upgrades over previous versions.
Boeing’s rivals in Boca Chica are planning to attempt a first orbital flight with their space craft later this year.
RESULT
Valencia 3
Kevin Gameiro 21', 51'
Ferran Torres 67'
Atlanta 4
Josip Llicic 3' (P), 43' (P), 71', 82'
Company%20profile
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SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4-litre%20flat-six%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E525hp%20(GT3)%2C%20500hp%20(GT4)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E465Nm%20(GT3)%2C%20450Nm%20(GT4)%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh944%2C000%20(GT3)%2C%20Dh581%2C700%20(GT4)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
Polarised public
31% in UK say BBC is biased to left-wing views
19% in UK say BBC is biased to right-wing views
19% in UK say BBC is not biased at all
Source: YouGov
Confirmed%20bouts%20(more%20to%20be%20added)
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The specs
Engine: 4-litre twin-turbo V8
Transmission: nine-speed
Power: 542bhp
Torque: 700Nm
Price: Dh848,000
On sale: now
UNSC Elections 2022-23
Seats open:
- Two for Africa Group
- One for Asia-Pacific Group (traditionally Arab state or Tunisia)
- One for Latin America and Caribbean Group
- One for Eastern Europe Group
Countries so far running:
Company Profile
Name: JustClean
Based: Kuwait with offices in other GCC countries
Launch year: 2016
Number of employees: 130
Sector: online laundry service
Funding: $12.9m from Kuwait-based Faith Capital Holding
Results:
6.30pm: Maiden | US$45,000 (Dirt) | 1,400 metres
Winner: Tabarak, Royston Ffrench (jockey), Rashed Bouresly (trainer)
7.05pm: Handicap | $175,000 (Turf) | 3,200m
Winner: Dubhe, William Buick, Charlie Appleby
7.40pm: UAE 2000 Guineas Group 3 | $250,000 (D) | 1,600m
Winner: Estihdaaf, Christophe Soumillon, Saeed bin Suroor
8.15pm: Handicap | $135,000 (T) | 1,800m
Winner: Nordic Lights, William Buick, Charlie Appleby
8.50pm: Al Maktoum Challenge Round 2 Group 2 | $450,000 (D) | 1,900m
Winner: North America, Richard Mullen, Satish Seemar
9.25pm: Handicap | $175,000 (T) | 1,200m
Winner: Mazzini, Adrie de Vries, Fawzi Nass
10pm: Handicap | $135,000 (T) | 1,400m.
Winner: Mubtasim, William Buick, Charlie Appleby
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.”
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
MATCH INFO
Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)
Arsenal win 5-4 on penalties
Man of the Match: Ainsley Maitland-Niles (Arsenal)
The Light of the Moon
Director: Jessica M Thompson
Starring: Stephanie Beatriz, Michael Stahl-David
Three stars
UAE currency: the story behind the money in your pockets
About Seez
Company name/date started: Seez, set up in September 2015 and the app was released in August 2017
Founder/CEO name(s): Tarek Kabrit, co-founder and chief executive, and Andrew Kabrit, co-founder and chief operating officer
Based in: Dubai, with operations also in Kuwait, Saudi Arabia and Lebanon
Sector: Search engine for car buying, selling and leasing
Size: (employees/revenue): 11; undisclosed
Stage of funding: $1.8 million in seed funding; followed by another $1.5m bridge round - in the process of closing Series A
Investors: Wamda Capital, B&Y and Phoenician Funds
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Victims%20of%20the%202018%20Parkland%20school%20shooting
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
COMPANY%20PROFILE
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UAE SQUAD FOR ASIAN JIU-JITSU CHAMPIONSHIP
Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan
Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Results
United States beat UAE by three wickets
United States beat Scotland by 35 runs
UAE v Scotland – no result
United States beat UAE by 98 runs
Scotland beat United States by four wickets
Fixtures
Sunday, 10am, ICC Academy, Dubai - UAE v Scotland
Admission is free
Could%20We%20Be%20More
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
Scoreline
Man Utd 2 Pogba 27', Martial 49'
Everton 1 Sigurdsson 77'
Company%20profile
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