Billionaire Richard Branson to co-pilot first crewed stratospheric balloon flight by Space Perspective


Sarwat Nasir
  • English
  • Arabic

British billionaire Sir Richard Branson is set to co-pilot the inaugural crewed flight of Space Perspective, an American space tourism company developing stratospheric balloons, it was announced on Thursday.

Space Perspective will offer hydrogen-powered, high-altitude balloon rides that float passengers about 31km above Earth. The price for a single seat is set at $125,000 (Dh459,125), with more than 1,800 reservations made so far, the company said. It conducted an uncrewed test flight in September, following the same trajectory that future commercial flights will take.

It was also revealed that Sir Richard has made an undisclosed amount of investment in the company, which has raised $100 million to date from several investors, including venture capital funds such as LightShed Partners, E2MC, Base, Green Sands Equity, Kirenaga and SpaceFund.

“Some of the most magnificent experiences of my life have happened on ballooning expeditions and I’m excited to support Space Perspective in its journey,” said Sir Richard. “I'm passionate about adventure and helping fellow entrepreneurs reach their business dreams. I look forward to dusting off my old ballooning licence ahead of some magnificent test flights.”

Sir Richard Branson has also made an undisclosed amount of investment in Space Perspective. Antonie Robertson / The National
Sir Richard Branson has also made an undisclosed amount of investment in Space Perspective. Antonie Robertson / The National

Sir Richard, who founded space tourism company Virgin Galactic, set ballooning records crossing the Atlantic and Pacific Oceans in 1987 and 1991.

The journey by Space Perspective promises panoramic views of the planet's curvature, while staying within the safety of a pressurised capsule designed for comfort and luxury, with meals and Wi-Fi. Up to eight passengers can board the Neptune capsule, which will be launched from a ship and splash down in the ocean. The capsule will be carried into the stratosphere using an enormous balloon.

Founded by Jane Poynter and Taber MacCallum, Space Perspective aims to make space more accessible to adventure-seekers. “We’re delighted by Richard’s decision to join Jane and I as co-pilot on the first crewed flight, leveraging his deep experience in ballooning to ensure a successful maiden voyage,” said Mr MacCallum. “Richard's pioneering efforts in the ballooning industry were a key inspiration for us when we founded Space Perspective.”

Space tourism is gaining popularity as companies try to offer unique experiences for passengers. In addition to Space Perspective, Spanish company Halo Space is another key player, developing high-altitude balloon flights that provide panoramic views of Earth. It also aims to offer luxurious space experiences, with plans to launch its own commercial flights from multiple locations around the world, including Saudi Arabia. Tickets will be priced at €150,000 (Dh596,190).

Halo Space's stratospheric balloons to launch from Saudi Arabia – in pictures

Veere di Wedding
Dir: Shashanka Ghosh
Starring: Kareena Kapoo-Khan, Sonam Kapoor, Swara Bhaskar and Shikha Talsania ​​​​​​​
Verdict: 4 Stars

UAE currency: the story behind the money in your pockets
UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

Tonight's Chat on The National

Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.

Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

Facebook | Our website | Instagram

Tips to stay safe during hot weather
  • Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
  • Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
  • Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
  • Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
  • Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
  • Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
  • Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.5-litre%2C%20twin-turbo%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E410hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E495Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Estarts%20from%20Dh495%2C000%20(Dh610%2C000%20for%20the%20F-Sport%20launch%20edition%20tested)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Abaya trends

The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

THE SPECS

Touareg Highline

Engine: 3.0-litre, V6

Transmission: 8-speed automatic

Power: 340hp

Torque: 450Nm

Price: Dh239,312

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.6-litre%2C%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Eeight-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E285hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E353Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh159%2C900%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
The%20Specs%20
%3Cp%3E%3Cstrong%3ELamborghini%20LM002%3C%2Fstrong%3E%3Cbr%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%205.2-litre%20V12%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20450hp%20at%206%2C800rpm%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E500Nm%20at%204%2C500rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3EFive-speed%20manual%3Cbr%3E%3Cstrong%3E0-100kph%3A%3C%2Fstrong%3E%209%20seconds%20(approx)%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20210kph%20(approx)%3Cbr%3E%3Cstrong%3EYears%20built%3A%3C%2Fstrong%3E%201986-93%3Cbr%3E%3Cstrong%3ETotal%20vehicles%20built%3A%3C%2Fstrong%3E%20328%3Cbr%3E%3Cstrong%3EValue%20today%3A%3C%2Fstrong%3E%20%24300%2C000%2B%3Cbr%3E%3C%2Fp%3E%0A
The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages. 

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

Updated: October 17, 2024, 3:49 PM`