logo
Honda pulls off surprise reusable rocket test launch

Honda pulls off surprise reusable rocket test launch

Times of Oman2 days ago

Tokyo: Japan's second-largest carmaker, Honda, has successfully tested an experimental reusable space rocket on the nothern Japanese island of Hokkaido, the company said in a surprise announcement.
"The test was completed successfully, the first time Honda landed a rocket after reaching an altitude of nearly 300 meters (1,000 feet)," the company said in a statement on Tuesday.
The carmaker aims to achieve suborbital space flight in 2029. In 2021, Honda said it was studying space technologies such as reusable rockets but made no announcements prior to Tuesday's test.
"Honda has chosen to take on the technological challenge of developing reusable rockets by utilizing Honda technologies amassed in the development of various products and automated driving systems," it said.
The company said it has made no decisions regarding the commercialisation of this technology but that it has "the potential to contribute more to people's daily lives by launching satellites with its own rockets, that could lead to various services that are also compatible with other Honda business."
It added that growing expectations for a "data system in outer space" will likely increase the demand for satellite launch rockets in coming years.
The space race returns
NASA was the first to successfully test a reusable spacecraft with the Space Shuttle beginning in the 1980s. The booster rockets could be salvaged from the ocean and refurbished, while the Shuttle itself was designed to land like an airplane.
More recently, Elon Musk's SpaceX which is known for commercialising reusable rockets that land safely back on Earth. This has been used to establish the global satellite internet network Starlink.
Japan's space agency JAXA is also on a mission to become a major player in satellite launches. Japan's government has set up a multibillion-dollar space venture fund to subsidize private rockets, encouraging several Japanese startups to work on the reusable technology.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India records highest growth in power generation after US & China in last five years: IEA
India records highest growth in power generation after US & China in last five years: IEA

Times of Oman

time19 minutes ago

  • Times of Oman

India records highest growth in power generation after US & China in last five years: IEA

New Delhi: India has emerged as a country with the third-largest growth in power generation capacity globally over the past five years, according to the latest report by the International Energy Agency (IEA). Only China and the United States surpassed India in power generation growth during this period. It said "India has seen the third-largest growth in power generation capacity in the world after China and the United States". The report highlighted that India's electricity demand has been rising sharply due to several factors. These include the expansion of commercial and residential spaces, increased ownership of air conditioners and other household appliances, and growing demand from industries. To meet this growing demand, power generation in the country has expanded across all energy sources. The report mentioned that a major driver of this expansion has been the strong push towards renewable energy. The report noted a significant increase in investments in clean energy, especially solar photovoltaic (PV) projects. In fact, solar PV alone accounted for more than half of the total non-fossil energy investment in India over the past five years. In 2024, as much as 83 per cent of power sector investment in the country went into clean energy initiatives. India was also the largest recipient of development finance institution (DFI) funding for clean energy in 2024. The country received around USD 2.4 billion in project-specific funding aimed at boosting clean energy generation. In terms of foreign investment, India has seen a steady rise in foreign direct investment (FDI) in the power sector. FDI reached USD 5 billion in 2023, nearly twice the level seen before the COVID-19 pandemic. This growth is partly driven by government policies that allow 100 per cent FDI in all areas of electricity generation (except nuclear power) and transmission infrastructure. However, the report also pointed out that foreign portfolio investment in India's energy sector has seen a decline in the past two years. This drop is attributed to a mix of macroeconomic and sector-specific challenges, though the long-term trend remains positive.

India's new gold loan regulations to reshape lending landscape: S&P Global
India's new gold loan regulations to reshape lending landscape: S&P Global

Times of Oman

time33 minutes ago

  • Times of Oman

India's new gold loan regulations to reshape lending landscape: S&P Global

New Delhi: S&P Global Ratings anticipates that the new regulations in Gold-Backed Loans will necessitate business model adjustments for lenders, with nimble players likely to gain a competitive edge. India's booming gold-backed loan sector is poised for significant changes with the introduction of new regulations, expected to be fully implemented by April 1, 2026. A key change involves the inclusion of interest payments until maturity in the calculation of Loan-to-Value (LTV) ratios, which could reduce the initial loan amount disbursed to borrowers. Additionally, credit appraisals for consumption-focused loans exceeding USD 3,000 and all income-generating loans will now require a cash flow analysis of borrowers, a departure from the traditional reliance on collateral valuation. The new rules also aim to enhance customer protection by standardizing the regulatory framework and addressing prudential and conduct gaps. This includes clearer guidelines on collateral handling and auction processes, mandating the return of pledged collateral and auction surpluses to borrowers within seven working days. Disbursements above INR 20,000 (approximately USD 231) will now be made directly to borrowers' bank accounts. The RBI is also emphasizing greater transparency in interest rate and fee disclosures and scrutinizing the outsourcing of core financial services. This shift will particularly impact nonbank financial companies (NBFCs) with large gold loan portfolios, such as Muthoot Finance Ltd. and Manappuram Finance Ltd., as they will need to invest in developing new risk management policies and training loan officers. Despite these adjustments, operational agility and service excellence, including quick and seamless loan disbursement, will remain crucial differentiators for lenders. NBFCs' strong customer relationships and investments in analytics are expected to help them maintain competitiveness. While these new models offer opportunities, they also introduce risks, particularly the heightened sensitivity to sharp corrections in gold prices if higher LTV norms are adopted for income-producing loans. Gold prices have surged by nearly 80% since late 2023, leading to a significant increase in collateral value and loan books. The RBI's regulatory treatment of NBFC gold loans, which applies a 100% risk weight, helps mitigate price risk, although banks currently benefit from a 0% risk weight on these loans.

Global Pause: US, Taiwan and UAE keep interest rates unchanged
Global Pause: US, Taiwan and UAE keep interest rates unchanged

Times of Oman

time33 minutes ago

  • Times of Oman

Global Pause: US, Taiwan and UAE keep interest rates unchanged

Taipei: The Central Bank of the Republic of China (Taiwan) on Thursday kept the key interest rates unchanged after a quarterly policymaking meeting, as reported by the Focus Taiwan. The decision to keep rate cuts unchanged marked the fifth consecutive quarter the central bank has left interest rates unchanged, as the market widely anticipated. This decision comes after the U.S. Federal Reserve made a similar decision overnight to maintain its monetary policy for the fourth policymaking meeting in a row. Additionally, other leading major economies, such as the UAE, also held interest rates steady after their policymaking meetings. Following Thursday's decision, the local discount rate will stay at 2 per cent, which is still the highest in 15 years -- the rate on accommodations with collateral remains at 2.375 per cent, and the rate on accommodations without collateral is 4.250 per cent. "Like the Fed, market analysts said, the central bank needs time to observe the potential impact resulting from the Trump administration's tariff policies," Focus Taiwan added. Analysts said the market remains alert over a possible spike in inflation and a slower global economy caused by higher tariffs. U.S. President Donald Trump first announced "reciprocal" tariffs on April 2 on countries with high trade surpluses with the United States. These included a 32 per cent import duty on goods from Taiwan, though Trump announced a 90-day pause a week later to allow negotiations for a lower levy. In addition, Trump has threatened to impose a tariff on semiconductors, which serve as the backbone of Taiwan's exports.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store