From the Editors: UAE to support private sector in space

UAE’S SUPPORT TO PRIVATE SECTOR IN SPACE: The UAE continues to lead the region in terms of scientific achievement and space programmes. Along with the Hope Probe and Moon mission, the country is also encouraging private sector engagement in the industry. This opens up new opportunities not only for investment but also jobs for nationals. Marshal Intech, a subsidiary of the UAE’s Bin Ghalib Group, is working to develop a group of satellites that will be launched in December. Such encouraging ventures spell golden times ahead for the UAE’s endevours in space. [COMMENT BY: Somshankar Bandyopadhyay, Assistant Editor]

URGENT NEED TO HOLD ON TO NAGORNO-KARABAKH TRUCE: Alarming reports from the Caucasus have it that both Armenia and Azerbaijan are violating the terms of ceasefire announced Saturday, which had brought a brief lull in shelling and missile strikes. Both sides have accused each other of violations of the truce, with Azerbaijan reporting the deaths of seven civilians in an alleged Armenia attack today. The fact is that if both sides do not abide by the ceasefire, the danger is of a destructive, full-blown war at a time when international attention has been totally diverted by a rampant pandemic, collapsing economies, and the US elections. The other peril is of neighbouring powers interfering directly, thereby perpetuating the conflict. [COMMENT BY: Omar Shariff, International Editor]

HAS THE YUAN’S DAY AS A GLOBAL RESERVER CURRENCY ARRIVED? The yuan surged about 1.6% on Friday. The currency has been the top performer among Asian peers, prompting the People’s Bank of China (PBOC) on Saturday remove rules that made betting against the currency expensive. A recovering economy and a hefty yield premium in sovereign debt over Treasuries are adding to strength of the yuan. Does it necessarily mean the yuan’s day as a global reserve currency has arrived? Historically, the currency has been volatile, subject to geopolitical and economic events. Considering the central bank’s tight grip on the currency and capital controls, viewing the yuan as an alternative to the dollar or euro may be premature. [COMMENT BY: Babu Das Augustine, Business Editor]

WHERE DOES THE CHENNAI SUPER KINGS IPL CAMPAIGN GO FROM HERE? They can certainly bounce back from the thumping by Royal Challengers Bangalore on Saturday night - but it may make sense to address the deeper problems in the squad rather than banking on skipper MS Dhoni’s magic time and again. With only two wins from seven matches, the crying need is an experienced middle-order batsman who can shore up the innings – and with the mid-season transfer coming up - they may consider tapping Delhi Capitals for someone like Ajinkya Rahane. Anyone who has played less than two games so far is eligible for transfer - and the CSK management can keep their minds open. [COMMENT BY: Gautam Bhattacharyya, Senior Associate Editor]

Amitabh Bachchan has turned 78 and as one of Bollywood - and India’s – greatest treasures, it’s almost a national celebration. Months after his recovery from COVID-19 , fans are hosting birthday events across the country, while his fellow actors have been posting their best wishes on social media. Bachchan’s impact on the film industry in India cannot be understated – he’s starred in almost 200, some of them becoming an important part of pop culture. Not only that, there seems to be no stopping the actor as he plans to star in more movies, and even recently made a return to the ‘Kaun Banega Crorepati’ set. There’s no stopping Big B! [COMMENT BY: Jennifer Barretto, Assistant Editor – Features}