From the editors: UAE's Moon Mission plan a sign of the times

UAE’S MOON MISSION PLAN A SIGN OF THE TIMES: The UAE will be leading the Arab world’s first mission to the Moon by 2024. This was announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai – fittingly around the first anniversary of the country’s maiden mission to space. In the last few years, the UAE’s role in pursuit of space science have earned this country a pioneering spot in the Arab world and given this nation a lot of global recognition so far as space study is concerned. A Moon mission is a further confirmation of the UAE’s commitment to scientific research and development in the best interest of mankind. [COMMENT BY: Sanjib Kumar Das, Assistant Editor]

ANOTHER DAY, ANOTHER FARCE IN LEBANON: The much touted formation of a new cabinet in Lebanon was derailed yesterday after prime minister-designate Mustapha Adib washed his hands off the job, resigning after a meeting with Lebanese President Michel Aoun. As often in Lebanon, the reason was inability to agree on ministerial portfolios, given the hopelessly factional and sectarian set-up of the political system. This move puts into serious question the promise of financial assistance from France, which was conditional upon the formation of a new cabinet to usher in desperately needed reforms. Lebanese politicians continue to play a dirty game against their hapless citizens. [COMMENT BY: Omar Shariff, International Editor]

IS BEING NEGATIVE ALL THAT BAD? When it comes to COVID-19, being negative is the best option. However, adopting negative interest rates is still a vexing issue. No wonder, the Fed and the Bank of England have resisted the temptation, so far. Central banks adjust interest rate on funds that banks park with them for policy objectives. In theory, rates below zero would mean punitive rates on deposits and low rates on lending. This would force banks lend and earn a margin, instead of earning an interest on reserves. However, on the funding side, banks will be squeezed, as depositors refuse punitive rates, effectively wiping out banks’ margins and incentive to lend, making the efficacy of the policy negative, or, at best zero sum. [COMMENT BY: Babu Das Augustine, Business Editor]

A very strange French Open welcomes some of the world’s best tennis players to a wet, windy and out-of-season Roland Garros. Coronavirus has shattered the event, with its postponement from its traditional early summer slot, the withdrawal of major names such as Roger Federer and Naomi Osaka, very few fans allowed, and now the nasty autumn weather has arrived to cause havoc to the playing schedule. The stardust is still there, with Novak Djokovic and Rafael Nadal fighting it out with Dominic Thiem for the men’s title. However, the once adored Djokovic is under a cloud due to his brushes with COVID-19 and temper tantrums, while Nadal looks rusty. Here’s hoping Roland Garros can still manage to raise the temperatures. [COMMENT BY: Matthew Smith, Sports Editor]

Singer Katy Perry has opened up her struggles with being a working mother a month after giving birth to her first child. She tweeted about the popular misconception that being a mother in itself is not a full time job. Yes, Perry is a wealthy artist living in a developed country. But her admission that motherhood, even for celebrities, isn’t all that rosy might it easy for others to talk openly about these issues. Women all around the world face similar troubles while trying to follow their careers and be good mothers to their children. There’s no shame in talking about it. [COMMENT BY: Jennifer Barretto, Assistant Editor – Features]