The rocket carrying the UAE's Hope probe blasts off from Japan in 2020. Now the UAE and the Philippines are looking at ways to team up in space exploration. Photo: AFP
The rocket carrying the UAE's Hope probe blasts off from Japan in 2020. Now the UAE and the Philippines are looking at ways to team up in space exploration. Photo: AFP
The rocket carrying the UAE's Hope probe blasts off from Japan in 2020. Now the UAE and the Philippines are looking at ways to team up in space exploration. Photo: AFP
The rocket carrying the UAE's Hope probe blasts off from Japan in 2020. Now the UAE and the Philippines are looking at ways to team up in space exploration. Photo: AFP

A new frontier: UAE and Philippines could team up in space sector


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The UAE and the Philippines are exploring collaboration in the space sector, state news agency Wam reported.

Officials from the UAE Space Agency met the Philippines' ambassador to the UAE, Hjayceelyn Quintana, along with a delegation from the country's space authority on Sunday to consider areas of co-operation.

Both nations have ambitious national road maps for space exploration.

Developing a space sector can help to create highly skilled local talent, build industries and grow a knowledge-based economy.

Ibrahim Al Qasim, space science adviser at the UAE Space Agency, with Hjayceelyn Quintana, Philippines ambassador to the UAE. Photo: Wam
Ibrahim Al Qasim, space science adviser at the UAE Space Agency, with Hjayceelyn Quintana, Philippines ambassador to the UAE. Photo: Wam

"Space sector collaborations are essential for both the UAE and the Philippines," said Ibrahim Al Qasim, space science adviser at the UAE Space Agency.

"As our two countries accelerate the growth and increase investments into this exciting yet nascent industry, there will be many opportunities to collaborate and share knowledge and ideas as we work together to create new avenues for space-based innovation."

Ms Quintana said teaming up in the flourishing space sector would be an appropriate way to mark the 47-year bilateral relationship between the countries.

"What better way to commemorate the 47th anniversary of our important diplomatic relations than by bringing together our space agencies to meet, share knowledge and expertise and discover what we can achieve together," said Ms Quintana.

"I consider it a distinct honour to be a part of this historic inaugural meeting to chart a new frontier in our strategic partnership, which, like space, is of limitless possibilities."

It comes as the UAE's space programme is advancing. The Arab world’s first lunar rover, Rashid, is set to land on the Moon in 2022.

The lunar project follows the UAE's ambitious Hope mission, in which the Emirates became the first Arab country to send a probe to Mars.

Hope started orbiting Mars in February and is conducting crucial experiments on the Red Planet.

The UAE also has 12 satellites in orbit, with another six in development.

The Philippines is also building a space programme. Authorities unified the country's space agency in 2019 and it has several satellites in orbit.


 


 

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

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Company name: Farmin

Date started: March 2019

Founder: Dr Ali Al Hammadi 

Based: Abu Dhabi

Sector: AgriTech

Initial investment: None to date

Partners/Incubators: UAE Space Agency/Krypto Labs 

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
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

A Cat, A Man, and Two Women
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Translated by Paul McCarthy
Daunt Books 

UAE currency: the story behind the money in your pockets
A general guide to how active you are:

Less than 5,000 steps - sedentary

5,000 - 9,999 steps - lightly active

10,000  - 12,500 steps - active

12,500 - highly active

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Director: Sriram Raghavan

Producer: Matchbox Pictures, Viacom18

Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan

Rating: 3.5/5

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The biog

Name: Timothy Husband

Nationality: New Zealand

Education: Degree in zoology at The University of Sydney

Favourite book: Lemurs of Madagascar by Russell A Mittermeier

Favourite music: Billy Joel

Weekends and holidays: Talking about animals or visiting his farm in Australia

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.”

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

PREMIER LEAGUE FIXTURES

All kick-off times UAE ( 4 GMT)

Saturday
Liverpool v Manchester United - 3.30pm
Burnley v West Ham United - 6pm
Crystal Palace v Chelsea - 6pm
Manchester City v Stoke City - 6pm
Swansea City v Huddersfield Town - 6pm
Tottenham Hotspur v Bournemouth - 6pm
Watford v Arsenal - 8.30pm

Sunday
Brighton and Hove Albion v Everton - 4.30pm
Southampton v Newcastle United - 7pm

Monday
Leicester City v West Bromwich Albion - 11pm

Updated: August 23, 2021, 6:11 AM`