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Trump aims to boost US space industry with less red tape

Trump aims to boost US space industry with less red tape

Observer3 days ago
WASHINGTON: US President Donald Trump aims to stimulate the domestic space industry by cutting bureaucracy as the competition from countries like China and India heats up.
In an executive order signed on Wednesday, the administration outlined plans to strengthen the US position in space by 2030 through a competitive market for launches, a significant increase in launch frequency, and "novel space activities."
To achieve this, the government plans to simplify and accelerate approval processes for commercial licenses and US-based operators.
The order says ensuring efficient launches and re-entries by US operators is "critical to economic growth, national security, and accomplishing federal space objectives."
The policies will help maintain "American space competitiveness and superiority."
The executive order sets deadlines for federal agencies, including NASA, to propose measures to reduce regulatory hurdles and identify conflicts with existing rules, such as environmental regulations.
The US aims to return humans to the moon by 2027, decades after the last crewed US lunar missions, but ahead of other nations with ambitious space programmes such as China and India.
Rapid commercialization and privatization have dramatically changed the space industry in recent years, intensifying the race for a leading position in the sector. — dpa
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Sohar International eyes full acquisition of Bima, majority stake in Saudi's Neo Group
Sohar International eyes full acquisition of Bima, majority stake in Saudi's Neo Group

Muscat Daily

time2 hours ago

  • Muscat Daily

Sohar International eyes full acquisition of Bima, majority stake in Saudi's Neo Group

Muscat – Sohar International Bank has unveiled plans for two potential acquisitions as part of its growth and regional expansion strategy, including a move to acquire Oman's first fully digital insurance platform and a majority stake in a Saudi-based financial institution. In a disclosure to the Muscat Stock Exchange, Sohar International said it has sought in-principle approval from the Central Bank of Oman (CBO) to make a non-binding offer for up to 100% of Insurance House LLC, better known as Bima. Licensed by the Financial Services Authority (FSA), Bima operates as Oman's first fully digital insurance platform, enabling customers to compare and purchase products ranging from motor and travel to medical and credit life insurance through multiple providers. Sohar International said the proposed acquisition of Bima aligns with its vision of becoming 'a world-class service company that supports customers, communities and people in their growth and prosperity'. The bank noted that the transaction remains subject to due diligence, negotiations, execution of definitive agreements, and approvals from regulators and other authorities. Separately, in an earlier disclosure, Sohar International last week announced its intention to acquire up to a 55% stake in Neo Group Limited KSA. The bank said it had sought in-principle approval from the CBO to enter into a non-binding Memorandum of Understanding (MoU) with Neo Group Limited UAE, which holds an 80% equity interest in the Saudi entity. Neo Group Limited KSA, licensed by Saudi Arabia's Capital Market Authority, provides asset management and financial advisory services. Sohar International said the proposed acquisition of Neo Group Limited KSA is in line with its regional expansion strategy and its ambition to strengthen Oman's presence in regional financial markets. Both prospective deals are contingent on satisfactory due diligence and the receipt of all necessary corporate and regulatory approvals. Sohar International said it will issue further announcements as developments progress.

Non-oil sector's contribution to the GCC GDP sees growth
Non-oil sector's contribution to the GCC GDP sees growth

Observer

time5 hours ago

  • Observer

Non-oil sector's contribution to the GCC GDP sees growth

Muscat - The gross domestic product (GDP) of the Gulf Cooperation Council (GCC) countries at current prices reached $2.143 trillion in 2023, down 2.7 percent from $2.202.7 trillion at the end of 2022. Data released by the GCC Statistical Center showed that the value of disposable GDP (for consumption and savings after deducting taxes and other transfers) amounted to $1.989 trillion, compared to $2.515 trillion in 2022, a decrease of 3 percent. The total value added of the non-oil sector in the GCC countries by the end of 2023, at current prices, amounted to approximately $1.513 trillion, while the value added of the oil sector amounted to $603.5 billion. Data indicates that the non-oil sector's contribution to the Gulf's GDP at current prices rose to 71.5 percent by the end of 2023, compared to 65 percent by the end of 2022, with an annual growth rate of 6.4 percent. Mining and quarrying activities contributed the most to the GCC economy over the past five years, averaging 28.3 percent, while manufacturing activities contributed the most to GDP within the non-oil sector, averaging 11.7 percent. Most economic activities witnessed positive growth rates in 2023, with finance and insurance activities recording the highest growth at 11.7 percent, followed by transportation and storage at 11.6 percent, real estate activities at 8.1 percent, public administration and defense at 7.9 percent, wholesale and retail trade at 7.6 percent, and education at 5.5 percent. Meanwhile, mining and quarrying activities, in addition to the manufacturing industry, witnessed a decline of 18.8 percent and 0.7 percent, respectively. Regarding the components of spending on the Gulf's GDP at current prices, data from the Gulf Statistical Center indicates that the value of exports of goods and services reached approximately $1.258 trillion by the end of 2023, representing a contribution of 59.5 percent to the GDP at current prices, a decline of 7.1 percent. Final consumption expenditure (the total amount spent by households, non-profit organizations, and the government on purchasing goods and services to directly satisfy their needs and wants, without using them to produce other goods or services) reached US$1,245.6 trillion, with an annual growth rate of 7.5 percent. Gross capital formation (total fixed capital formation and assets) also reached US$601.8 billion, with an annual growth rate of 5.5 percent.

International students turn to Asian universities as a refuge
International students turn to Asian universities as a refuge

Observer

time8 hours ago

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International students turn to Asian universities as a refuge

SEOUL, South Korea — For Jess Concepcion, a microbiology student from the Philippines, obtaining a doctorate from a university in the United States had been a dream. It was where most of his academic mentors had studied and done research, and he wanted to follow in their footsteps. But when the United States, under President Donald Trump, started pausing visa interviews during peak season this spring, threatening to deport international students for political speech and slashing funding for academic research, he quickly changed plans. Applications for doctoral programs take years and have to be tailored to specific schools, so he is aiming for programs in Switzerland and Singapore instead. 'That uncertainty made me stop in my tracks and choose another country,' Concepcion, 24, said. 'Immigration policy is quite restrictive, and I'm on a different side of the world. So living in that kind of instability that far away isn't healthy for me.' It's a quandary facing many young people around the world. According to the United Nations, 6.9 million people studied outside their home country in 2022. The United States has long attracted the most foreign students, 1.1 million in the 2023-24 academic year. It's too soon to know whether more foreign students will choose not to attend U.S. schools. But warning signs abound. Major international education search platforms, including IDP and Keystone Education Group, have detected a marked decline in student interest in American programs. Among academic administrators polled by the Institute of International Education this spring, more than usual reported drops in international applications for the coming year. These are not the first signs that American higher education is losing its dominant position. For years, countries in Asia have been strengthening their universities and marketing them to students around the world. With more appealing alternatives, the Trump administration's hostile stance may hasten the decline in U.S. higher education preeminence. 'We're shifting from a world in which there were only a few primary target destination countries to a much more multipolar world,' said Clay Harmon, the executive director of the Association of International Enrollment Management, which represents recruitment agencies. 'It's all adding up to this narrative that 'maybe that's not the right destination for me after all,'' Harmon said. ''And there are a whole bunch of other countries that are eager to take my money instead.'' Asia Steps Up For decades, in the English-speaking world, Oxford and Cambridge in Britain, the Ivy League in the United States, and other name-brand universities in Australia and Canada tended to top application checklists. Gradually, schools in China, Japan, Taiwan and Singapore started showing up in annual rankings of the top universities — and with lower prices. Governments dispatched representatives to college fairs and set goals for the number of students they wanted to bring in every year. So when Trump, soon after starting his second term, began pushing international students away, Asian nations started welcoming students who couldn't continue their studies at American schools. Take South Korea, where Concepcion went for his master's degree after winning a scholarship from the South Korean government that covered living expenses and tuition. He added a year of mandatory language study and enrolled at Korea University in Seoul, where his program starts in earnest this fall. In the spring, Korea University was among several institutions to offer relief measures as the U.S. government began canceling some student visas and terminating funding programs. Another South Korean school, Yonsei University, will open rolling admissions for undergraduate transfers year round starting in 2026 and is planning a customized visiting program for students whose coursework is interrupted in the United States. Trump has added urgency to such plans, but this effort has been underway in Asia for decades. South Korea has for years sent students to other countries, while attracting few from overseas. In the early 2000s, leaders started to think of that imbalance as a kind of trade deficit and set out to boost their international recruitment. They took guidance from a similar effort in Japan, which had about 337,000 foreign students last year and is aiming for 400,000 by 2033. South Korea's latest target was set in 2023: 300,000 international students by 2027. For 2026, Seoul was named the top city for international students in the closely followed Quacquarelli Symonds World University Rankings. Early on, the South Korean government's work was intended to buoy flagging schools in smaller towns, where low birthrates and emigration to larger cities have shrunk classes of high school graduates. Foreign students are also not subject to tuition caps that apply to domestic students, creating a new revenue stream to keep universities afloat. Meekyung Shin, the director of educational globalization for South Korea's Ministry of Education, said that at first those foreign students were generally expected to return home after their studies. More recently, officials have started to see foreign students as an answer to the nation's labor shortage as well. Seoul established a support center to help foreign students get jobs, and visa policies have been loosened to help them work after graduation. 'Now we are very interested in how we help them decide to stay here,' Shin said. There are about 70,000 students in South Korea from China and 50,000 from Vietnam. Myanmar and Nepal send thousands each year. For South Korean companies, the students offer an opportunity: potential hires who could help expand the business into their home countries or manage overseas factories. Hyundai, for example, makes many of its cars in Vietnam and is trying to sell them in Singapore. Kyle Guadana is a Singaporean student studying at Yonsei University, where he leads the Foreign Student Union. He said Hyundai, among other companies, had reached out directly. 'They are looking for foreigners who will be able to work with them,' Guadana, 24, said. 'They are specifically targeting Southeast Asian students, because they are trying to expand their bases here.' The recruiting drive has had some complications, however. To hit its targets, the government has accepted a wider range of language proficiency tests and lowered the minimum bank balance required to obtain a visa. It has also increased the number of hours students can work in a week. Some students have used university enrollment primarily as a way to earn money in South Korea, which is not otherwise easy to do. That's particularly true outside Seoul, according to Jun Hyun Hong, a professor at Chung-Ang University who was involved in earlier efforts to bring international students to South Korea's higher education system. Local governments are happy to have more people willing to work in factories and on farms, something that colleges facilitate. 'If we focus mainly on achieving the numerical goal,' Hong said, 'and ignore the quality of international students and the educational capacity of the university, there are concerns about whether maintaining these numbers will be sustainable in the long term.' Shin, the education official, said the government was working to ensure the quality of the programs. Right now, international students make up about 10% of the total student population, and she thinks that's a good ratio to maintain. But the larger challenge may be making sure that those who come primarily to study are able to work in South Korea when they graduate — and that they want to stay. Keity Rose Mendes, 21, grew up in Mozambique and received the same scholarship granted to Concepcion, studying industrial engineering at Seoul National University. She chose South Korea for its safety and because she wanted to learn about its manufacturing techniques. But after three years of classes, she felt that collaboration wasn't valued and that foreign students weren't well integrated. 'A lot of them, especially non-Asian international students, just want to finish their studies and leave,' said Mendes, who is the president of the school's International Student Association. 'I wish that the same effort that they're putting into bringing international students, they also tried to put into creating facilities to maintain them here.' Hedging Their Bets For millions of students deciding where to study, the United States is still the leading destination. Degrees from top American universities command societal respect — and lucrative job offers — in countries like South Korea. But even that shine has been dulled by new obstacles since Trump took office, said Pierre Huguet, the CEO of the global admissions consulting firm H&C Education. 'Many saw the U.S. as offering more freedom and an escape from rigid social pressures in Korea,' Huguet said. 'Now they fear visa revocations, invasive online presence reviews, and a chilled campus climate, which is the opposite of what they were hoping for.' Huguet said his clients were focusing on Britain and Australia. The number of South Korean students studying abroad overall has been dropping as the country's universities climb the rankings. And the United States isn't the only developed country to push back against international students. Canada and Australia limited international student visas last year, while Britain raised visa fees and was contemplating shortening postgraduate work visas. 'No country is being extremely welcoming at this stage,' said Yash Sharma, who runs an admissions consultancy called Longshore Education focused on the market in India. 'Everywhere in the English-speaking world, there is anti-immigration sentiment going around.' To add to political uncertainty, post-graduation job opportunities are changing. Tech companies, which have long been a strong draw to the United States, have pulled back on hiring entry-level workers as artificial intelligence reduces the number of people needed to do simpler tasks. That's what ultimately changed Divyank Rawat's mind. After working as a data analyst in India after college, he decided to pursue a master's degree in the United States because he felt it was the only place he could learn certain skills. Rawat, 25, was admitted to a handful of good programs. But after he spoke with other Indians who had recently graduated in the United States, the job market looked grim. Combined with the risk of not getting a student visa and new threats to the three-year, post-graduation period when students are allowed to work using their student visas, he decided to stay in India to work for the time being. 'Let's suppose I end up in the U.S. with $70,000 debt and no kind of job security,' Rawat said. 'It is really scary to imagine that.' He regrets not applying to European programs: 'The mistake was that I didn't have a backup plan.' This article originally appeared in

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