SpaceX had to blow up its flagship rocket mid-flight after blast-off on Thursday.
Chunks of Starship ― the most powerful spacecraft yet developed ― tumbled back to Earth after the launch from Texas.
The plan was to separate the unmanned rocket from the booster, which would then splash down into the ocean. Starship was intended to reach orbit before descending in a controlled landing near Hawaii.
But, after the technical issue, engineers ordered a "rapid unplanned disassembly" – a process that automatically disintegrates the rocket.
With a test like this, success comes from what we learn, and today’s test will help us improve Starship’s reliability
SpaceX statement
The rocket reached a peak altitude of 39 kilometres over the Gulf of Mexico when the mishap took place.
The company, owned by billionaire Elon Musk, said the launch still gave engineers "plenty of data" to try again. On the ground, SpaceX crew cheered the otherwise successful launch.
The cost of a single Starship has never been revealed, but Mr Musk said the broader project cost at least $3 billion.
"As if the flight test was not exciting enough, Starship experienced a rapid unscheduled disassembly before stage separation," SpaceX tweeted.
"Teams will continue to review data and work toward our next flight test.
"With a test like this, success comes from what we learn, and today’s test will help us improve Starship’s reliability as SpaceX seeks to make life multi-planetary."
Starship is a two-stage rocket system that includes a booster, with the spacecraft, called Starship, on top of it.
It is the most powerful launch vehicle developed and will be able to produce 3,991 tonnes of thrust, 15 per cent more than Nasa’s Apollo Moon rocket Saturn V.
Mr Musk has been trying to build it for years in hopes that one day Starship fleets would take people to Mars.
But SpaceX is also contracted by Nasa to develop the Starship Human Landing System, which would help astronauts land on the Moon under the US space agency’s Artemis programme.
Mr Musk has already sold seats on the Starship, including to Japanese billionaire Yusaku Maezawa, who plans on flying on the first crewed flight to the Moon, taking eight artists with him as part of his dearMoon programme.
American billionaire Jared Isaacman is also working with SpaceX through his Polaris programme, a series of privately-led space missions.
Mr Isaacman will serve as commander on the Polaris III mission — the first crewed orbital flight on the Starship rocket.
What was supposed to happen during the test flight?
SpaceX wanted to use to the test flight to measure whether the rocket can launch into orbit safely.
The rocket system launched from Starbase and the booster was supposed to separate from the spacecraft about 170 seconds into the flight.
The booster would have then performed a partial return and land in the Gulf of Mexico approximately 32km from the shore.
The orbital Starship would have continued flying between the Florida Straits.
It would have achieved orbit before performing a powered, targeted, soft-ocean landing about 100km off the north-west coast of Kauai, a Hawaiian island.
RESULTS - ELITE MEN
1. Henri Schoeman (RSA) 57:03
2. Mario Mola (ESP) 57:09
3. Vincent Luis (FRA) 57:25
4. Leo Bergere (FRA)57:34
5. Jacob Birtwhistle (AUS) 57:40
6. Joao Silva (POR) 57:45
7. Jonathan Brownlee (GBR) 57:56
8. Adrien Briffod (SUI) 57:57
9. Gustav Iden (NOR) 57:58
10. Richard Murray (RSA) 57:59
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
2021 World Triathlon Championship Series
May 15: Yokohama, Japan
June 5: Leeds, UK
June 24: Montreal, Canada
July 10: Hamburg, Germany
Aug 17-22: Edmonton, Canada (World Triathlon Championship Final)
Nov 5-6 : Abu Dhabi, UAE
Date TBC: Chengdu, China
'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
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2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
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Company profile
Name: Fruitful Day
Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie
Based: Dubai, UAE
Founded: 2015
Number of employees: 30
Sector: F&B
Funding so far: Dh3 million
Future funding plans: None at present
Future markets: Saudi Arabia, potentially Kuwait and other GCC countries
War
Director: Siddharth Anand
Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor
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Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
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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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