It is almost 47 years since human beings last ventured into deep space.
The crew of Apollo 17 – Eugene Cernan, Ronald Evans and Harrison Schmitt – returned home from the last mission to the Moon on December 7, 1972.
Since then, our trips have been restricted to short orbital flights and stays on the International Space Station. We still call them astronauts but their missions take them barely out of Earth’s atmosphere.
To give this some perspective, the crew of Apollo 17 travelled 400,000 kilometres to reach the landing site in the Taurus-Littrow Valley.
Reaching the ISS is a journey of 400km. It is as if the bus from Abu Dhabi to Dubai now runs barely two city blocks from the station on Airport Road before turning back.
Now it seems humanity may be back in the deep, or at least deeper, space game. The successor to the likes of Apollo 17’s Cernan, who died in January last year at the age of 82, is Yusaku Maezawa, a Japanese online shopping billionaire and former punk rock drummer.
Mr Maezawa, whose brands include the made-to-measure online clothing store Zozo, is the first customer for Elon Musk’s long-heralded project to fly a private citizen round the Moon.
Details are scarce but he will lift off in the still-untested SpaceX Big Falcon Rocket accompanied by up to eight artists who, in Mr Maezawa’s words, will “create something after they return to Earth. These masterpieces will inspire the dreamer within all of us”.
No details have been released about the price tag for the mission, which Mr Musk originally proposed for this year but is now tentatively set for 2023, when Mr Maezawa will be 47.
Presumably, the ticket is fully refundable. SpaceX has yet to make a manned flight even in low-Earth orbit and of the larger rocket, Mr Musk has said that “it’s not 100 per cent certain we can bring this to flight”.
But what seems at first like the latest act of extravagance by a Japanese billionaire may be of much greater significance for space travel. It reminds us how limited our experience of deep space is.
Only 24 people have travelled there and they were all men, all Americans and all white.
Nasa was born out of the rivalry between communist Russia and capitalist America, with the latter emerging victorious after outspending its rival and almost bankrupting both in the process.
Six missions after the first Moon landing in 1969, American politicians refused to keep paying Nasa’s enormous bills, killing off further manned deep-space exploration.
Despite much talk of returning to the Moon and even manned missions to Mars, it has stayed that way for nearly half a century.
Merely the idea of Mr Maezawa and his fellow “artstronaughts” raises questions about the nature of future deep space exploration – and who will pay for it.
Several prominent scientists now question whether governments should be in the manned deep space game.
In a lecture in London this month, Britain’s Astronomer Royal, a venerable title that goes back to 1675, argued that if rich people wanted to pay to go into space, that was probably the only way forward.
The future for manned space flight, Martin Rees predicted, “lies with the private sector, wealthy individuals accepting higher risks than Nasa can impose on civilian astronauts – and doing things more cheaply”.
Mr Rees is not alone in his belief that the future of space travel could be in tourism – people rich enough and brave enough to pay for the ultimate thrill ride.
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Read more:
Who is Yusaka Maezawa? Artist, entrepreneur, fashion tycoon, space traveller
World Government Summit: UAE is providing world with a glimpse of the future says leading space expert
How Boeing's Starliner is getting ready to rocket the United States back into manned space flight
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There are plenty of them out there. Mr Maezawa is estimated to be worth $3.6 billion (Dh13.22bn) but he is only the 14th richest man in Japan.
There are now more than 2,200 billionaires in the world, a number that continues to rise, with a total worth of $9.1 trillion. That is three times the US federal budget and enough money to fund Nasa for the next 500 years.
Those wealthy enough to want to go to space will probably have a growing range of choices.
SpaceX is merely the best known of several private companies investing in space flight.
Most are angling for government contracts, with the US ready to start sending astronauts back into orbit after relying on the ageing Russian Soyuz aircraft to fly to the International Space Station since the launch of the last Space Shuttle in 2011.
Jeff Bezos of Amazon is pushing ahead with his Blue Origin rocket and planning the first manned flights of the New Shepard capsule, named after Alan Shepard, the first American in space.
Mr Bezos has already said he would take passengers on the New Shepard, the design of which features reclining seats and picture windows. The price is rumoured to be between $200,000 and $300,000 for a return ticket.
The growing competition and market for private space flight is likely only to increase the capacity to carry passengers and the likelihood that prices will be driven down.
Some entrepreneurs are already talking about more distant journeys. Mr Musk has expressed a desire to die on Mars, “but not on impact”.
Travelling into low Earth orbit to watch as the world revolves below and experience the thrill of zero gravity, is likely to become the ultimate travel bucket-list experience for those who can afford it.
It is already the business model for Virgin Galactic, the space tourism business developed by Richard Branson, with Unity, a reusable space plane and a waiting list of several hundred customers prepared to pay $250,000 for a flight that will last about two hours.
Abu Dhabi bought a major stake in Virgin Galactic through its investment company Aabar, as part of the country’s burgeoning space industry, which includes a planned probe to Mars to be launched in 2021, the UAE’s golden jubilee.
The UAE also has plans to build the first city on the Red Planet by 2117.
Mr Branson’s plans have been much delayed by technical challenges and a crash of a prototype in 2014 that killed one of the test pilots, but the British billionaire still talks of being in space within the year.
For those looking for a longer vacation, the current talk is of space hotels – essentially more luxurious versions of the ISS.
The most ambitious of these is Aurora Station, billed as "the world's first luxury space station". At about $9 million for a 12-day holiday in space, the Aurora Station will house four guests and two crew, along with high-speed Wi-Fi.
Frank Bunger, the American founder and chief executive of Orion Span – the company behind the space hotel, which is set to open in 2022 – says that rooms on the Aurora Station are already sold out for the first six months.
“Our goal is to make space accessible to all by continuing to drive greater value at lower cost,” Mr Bunger says.
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
COMPANY%20PROFILE
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hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
'Nope'
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FORSPOKEN
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Star%20Wars%20Jedi%3A%20Survivor
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Street%20Fighter%206
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Diablo%20IV
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The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom
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Marvel's%20Spider-Man%202
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Assassin's%20Creed%20Mirage
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Starfield
%3Cp%3EDeveloper%3A%20Bethesda%20Game%20Studios%0D%3Cbr%3EPublisher%3A%20Bethesda%20Softworks%0D%3Cbr%3EConsole%3A%20PC%2C%20Xbox%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
Killing of Qassem Suleimani
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
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.”
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Company%20Profile
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TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
Voy!%20Voy!%20Voy!
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What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Dengue%20fever%20symptoms
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German plea
Ukrainian President Volodymyr Zelenskyy told the German parliament that. Russia had erected a new wall across Europe.
"It's not a Berlin Wall -- it is a Wall in central Europe between freedom and bondage and this Wall is growing bigger with every bomb" dropped on Ukraine, Zelenskyy told MPs.
Mr Zelenskyy was applauded by MPs in the Bundestag as he addressed Chancellor Olaf Scholz directly.
"Dear Mr Scholz, tear down this Wall," he said, evoking US President Ronald Reagan's 1987 appeal to Soviet leader Mikhail Gorbachev at Berlin's Brandenburg Gate.
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
The Cockroach
(Vintage)
Ian McEwan
The specs
Engine: 3.5-litre V6
Power: 272hp at 6,400rpm
Torque: 331Nm from 5,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.7L/100km
On sale: now
Price: Dh149,000
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
Company%20Profile
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