A new crew arrived on the International Space Station on Friday to replace three astronauts who were forced to carry out a year-long mission after their spacecraft suffered catastrophic damage.
Nasa astronaut Loral O’Hara and Russian cosmonauts Oleg Kononenko and Nikolai Chub lifted off aboard the Soyuz MS-24 spacecraft from the Baikonur Cosmodrome in Kazakhstan at 7.44pm, UAE time.
They will take over from US astronaut Frank Rubio and Russia's Dmitry Petelin and Sergey Prokopyev, who are expected to return to Earth on September 27.
"The Soyuz MS-24 spacecraft carrying O’Hara, as well as Oleg Kononenko and Nikolai Chub of Roscosmos, docked to the station’s Rassvet module at 2.53pm EDT (10.53pm UAE time)," said Nasa.
Why did they spend a year in space?
Mr Frank and his two Russian colleagues travelled to the ISS on September 21, 2022, for what was meant to be a six-month mission.
But three months after docking, their Soyuz MS-22 spacecraft was damaged beyond repair – reportedly from a meteor strike that caused a coolant leak.
It was too dangerous for the crew to return on the damaged craft, so Nasa and Russian officials decided to extend their mission by six months.
A rescue craft, the Soyuz MS-23, was sent to the station in February with 430kg of supplies, and will bring the astronauts back.
Record-setting stay on the ISS
The extended stay means Mr Rubio has set the US record for the longest spaceflight by an astronaut.
When he lands on Earth, Mr Rubio will have spent 371 days in space, beating Nasa astronaut Mark Vande Hei’s record of 355 days.
Nasa administrator Bill Nelson spoke to Mr Rubio on Wednesday to thank him for his service.
"It was unexpected. In some ways, it's been an incredible challenge," Mr Rubio said in the live call.
"But in other ways, it's been an incredible blessing. I count myself lucky and honoured to be able to represent the agency and our country."
His colleagues praised his work on the space station.
US astronaut Woody Hoburg, who returned from a six-month mission earlier this month, said during his farewell speech on the ISS that he was impressed by Mr Rubio.
“His leadership up here has been incredible. He's been amazing to work with. And Frank is just making a huge sacrifice being away from his family for so long," he said.
“I just want to really recognise the service he's given to us at the space station.”
The extended trip will mean the Russians also set a new record for the longest spaceflight aboard the ISS by a Russian cosmonaut.
Mr Petelin and Mr Prokopyev will beat the time set by their colleagues, Anton Shkaplerov and Pyotr Dubrov, of 355 days.
Russian cosmonaut Valery Polyakov, who died last year, holds the world record for the longest single stay in space. He spent 437 days on the Mir space station.
Who is the replacement crew?
This is Ms O'Hara's and Mr Chub's first spaceflight and Mr Kononenko's fifth mission.
The Russian cosmonauts will spend a year on the ISS and will return on the Soyuz MS-26 craft in September, 2024.
Ms O'Hara will be there for six months.
"I video chatted with Frank Rubio, who's on board the space station right now waiting for me to get there so he can come home," she said during a briefing on August 23.
Company%20Profile
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The%20BaaS%20ecosystem
%3Cp%3EThe%20BaaS%20value%20chain%20consists%20of%20four%20key%20players%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConsumers%3A%3C%2Fstrong%3E%20End-users%20of%20the%20financial%20product%20delivered%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDistributors%3A%3C%2Fstrong%3E%20Also%20known%20as%20embedders%2C%20these%20are%20the%20firms%20that%20embed%20baking%20services%20directly%20into%20their%20existing%20customer%20journeys%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEnablers%3A%3C%2Fstrong%3E%20Usually%20Big%20Tech%20or%20FinTech%20companies%20that%20help%20embed%20financial%20services%20into%20third-party%20platforms%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProviders%3A%3C%2Fstrong%3E%20Financial%20institutions%20holding%20a%20banking%20licence%20and%20offering%20regulated%20products%3C%2Fp%3E%0A
The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
The five pillars of Islam
If%20you%20go
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Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Visa changes give families fresh hope
Foreign workers can sponsor family members based solely on their income
Male residents employed in the UAE can sponsor immediate family members, such as wife and children, subject to conditions that include a minimum salary of Dh 4,000 or Dh 3,000 plus accommodation.
Attested original marriage certificate, birth certificate of the child, ejari or rental contract, labour contract, salary certificate must be submitted to the government authorised typing centre to complete the sponsorship process
In Abu Dhabi, a woman can sponsor her husband and children if she holds a residence permit stating she is an engineer, teacher, doctor, nurse or any profession related to the medical sector and her monthly salary is at least Dh 10,000 or Dh 8,000 plus accommodation.
In Dubai, if a woman is not employed in the above categories she can get approval to sponsor her family if her monthly salary is more than Dh 10,000 and with a special permission from the Department of Naturalization and Residency Dubai.
To sponsor parents, a worker should earn Dh20,000 or Dh19,000 a month, plus a two-bedroom accommodation
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
The specs: 2019 Audi A7 Sportback
Price, base: Dh315,000
Engine: 3.0-litre V6
Transmission: Seven-speed automatic
Power: 335hp @ 5,000rpm
Torque: 500Nm @ 1,370rpm
Fuel economy 5.9L / 100km
ODI FIXTURE SCHEDULE
First ODI, October 22
Wankhede Stadium, Mumbai
Second ODI, October 25
Maharashtra Cricket Association Stadium, Pune
Third ODI, October 29
Venue TBC
The specs: Rolls-Royce Cullinan
Price, base: Dh1 million (estimate)
Engine: 6.75-litre twin-turbo V12
Transmission: Eight-speed automatic
Power: 563hp @ 5,000rpm
Torque: 850Nm @ 1,600rpm
Fuel economy, combined: 15L / 100km
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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MATCH INFO
West Ham United 2 (Antonio 73', Ogbonna 90 5')
Tottenham Hotspur 3 (Son 36', Moura 42', Kane 49')
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
match info
Southampton 0
Arsenal 2 (Nketiah 20', Willock 87')
Red card: Jack Stephens (Southampton)
Man of the match: Rob Holding (Arsenal)
MATCH INFO
Mumbai Indians 186-6 (20 ovs)
Kings XI Punjab 183-5 (20 ovs)
Mumbai Indians won by three runs
