In July 2014, the UAE Space Agency was born. The project’s aim is to send the first space probe from an Arab or Islamic country to Mars by 2021, which will coincide with the 50th anniversary of the country’s founding.
This shows that the UAE does not fear competition and it demonstrates that the country will take on challenges, no matter how impossible they seem.
As Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said: “‘Impossible’ is a word coined by those who do not want to work, or rather, those who do not want us to work … It can confine a person like a great prison.”
Through the probe’s mission, the UAE is offering hope to the region. It will prove that there are bright spots in the Middle East and that the Arab people are engaged in the march of global progress. It shows that ISIL, Al Qaeda, the Muslim Brotherhood and other violent groups are nothing but a deviation from the positive direction of the region.
This is the great civilisational role that the UAE is performing. The country is a source of inspiration for Arab and Muslim peoples.
When the Mars mission was announced in 2014, some might have viewed it with scepticism. Some may have even seen it as a delusional dream or an over-exaggerated aspiration.
However, the UAE, as always, plans for everything. It only takes calculated steps.
The appropriate executive steps are being made to prove to the world the UAE’s ability and determination to turn dreams into reality.
Hence, the Mohammed bin Rashid Space Centre was established in 2015, while national investments in the space industry have reached Dh20 billion. At the World Government Summit in Dubai in February, Sheikh Mohammed bin Rashid and Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, unveiled the Mars 2117 project, which aims to build the first human settlement on Mars within 100 years.
Steps have also been taken to build a strong base of scientific knowledge capable of implementing the space project with Emirati hands, minds and expertise. There are more than 150 UAE scientists and engineers working on this project.
This, undoubtedly, establishes a new scientific and technological reality in the UAE. What makes the space project even more important is the fact that it places great importance on exploring Mars. Statistics indicate that the total volume of the global space industry amounts to almost $300 billion, a figure that is growing by about eight per cent per year. If we ignore space, we ignore the track of global progress.
Knowing that the information collected from the UAE space project will benefit more than 200 research institutes and specialised studies centres around the world, the importance of the service the UAE is rendering to science is immediately clear.
This point was expressed by Sheikh Mohammed bin Zayed, who said: “The UAE has become part of the dynamic human scientific efforts to explore space and make scientific contributions to human knowledge. With the launch of this project, we begin a new journey that will last for decades to come, which will speed up humanity’s endeavours to explore other planets.”
The UAE inspires Arabs with its space project, and with its values of tolerance, centrism, moderation, coexistence and acceptance of others. The UAE also inspires others with its wise policies and visions aimed at achieving happiness, peace, security and development for its people. Moreover, it inspires them with its desire to do the impossible.
In conclusion, I can confidently and proudly say: the UAE is the hope of the Arabs. It is their motivating force towards breaking free into the vast space of global progress.
Dr Jamal Sanad Al Suwaidi is the director general of the Emirates Centre for Strategic Studies and Research
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.”
Duterte Harry: Fire and Fury in the Philippines
Jonathan Miller, Scribe Publications
The five stages of early child’s play
From Dubai-based clinical psychologist Daniella Salazar:
1. Solitary Play: This is where Infants and toddlers start to play on their own without seeming to notice the people around them. This is the beginning of play.
2. Onlooker play: This occurs where the toddler enjoys watching other people play. There doesn’t necessarily need to be any effort to begin play. They are learning how to imitate behaviours from others. This type of play may also appear in children who are more shy and introverted.
3. Parallel Play: This generally starts when children begin playing side-by-side without any interaction. Even though they aren’t physically interacting they are paying attention to each other. This is the beginning of the desire to be with other children.
4. Associative Play: At around age four or five, children become more interested in each other than in toys and begin to interact more. In this stage children start asking questions and talking about the different activities they are engaging in. They realise they have similar goals in play such as building a tower or playing with cars.
5. Social Play: In this stage children are starting to socialise more. They begin to share ideas and follow certain rules in a game. They slowly learn the definition of teamwork. They get to engage in basic social skills and interests begin to lead social interactions.
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
'Gehraiyaan'
Director:Shakun Batra
Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa
Rating: 4/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
Price, base / as tested Dh12 million
Engine 8.0-litre quad-turbo, W16
Gearbox seven-speed dual clutch auto
Power 1479 @ 6,700rpm
Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds
Top speed 420 kph (governed)
Fuel economy, combined 35.2L / 100km (est)
