Connect with us

Technology

SpaceX Pulls Off First Reused Rocket Mission

Published

on

Space reusable
  • SpaceX Pulls Off First Reused Rocket Mission

Elon Musk’s SpaceX flew a reused rocket to space and back again, a key milestone to reducing launch costs and one day enabling people to live on other planets.

A SpaceX Falcon 9 rocket rumbled aloft, deposited a customer’s satellite into orbit, stuck its landing on a drone ship in the Atlantic Ocean and drew raucous cheers from the crowd gathered Thursday at the company’s California headquarters. The moment was 15 years in the making for Musk, who founded SpaceX with the eventual goal of colonizing Mars.

“This is going to be, ultimately, a huge revolution in spaceflight,” Musk, 45, said from NASA’s Kennedy Space Center in Cape Canaveral, Florida.

Much of the expense of space travel lies in building engines, capsules and other equipment that are typically used once and then discarded. Billionaires including Musk and Amazon.com Inc. founder Jeff Bezos are racing to make rocket reusability — once dismissed as a crazy idea — a reality that will dramatically reduce costs.

Closely held Space Exploration Technologies Corp. builds its rockets and engines in-house, wagering this better enables constant improvements and tighter collaboration on design and manufacturing. The rocket launched Thursday carried a communications satellite from Luxembourg’s SES SA that will provide coverage to Latin America.

The reused rocket first took off and landed successfully on an unmanned drone ship bobbing in the Atlantic back in April 2016. The company has now recovered nine rockets in total, three by land and six by sea.

Recovering and refurbishing the used rocket booster that flew Thursday took SpaceX roughly four months, President Gwynne Shotwell said earlier this month. Eventually, that turnaround time will drop to a single day as the company seeks to reuse rockets much in the way airlines operate today.

SpaceX has successfully launched four rockets this year and aims to fly 20 to 24 missions in 2017. The Hawthorne, California-based company has contracts with the National Aeronautics and Space Administration valued at $4.2 billion to resupply the International Space Station. using its unmanned Dragon spacecraft. It’s later planning to ferry astronauts to the station with a version capable of carrying crews.

“Congrats @SpaceX on another historic launch!” NASA tweeted Thursday.

SES, which has flown with SpaceX twice before, was the first commercial satellite operator to launch with the company back in 2013. Though the price of the launch was not disclosed, Chief Technology Officer Martin Halliwell said SES received a discount for being first in line.

Musk announced last month that SpaceX plans to send two private citizens who paid “significant deposits” on a week-long flight circling the moon in late 2018.

“I’m sort of at a loss for words,” Musk said on the SpaceX webcast Thursday. “It’s really a great day, not just for SpaceX but for the space industry as a whole and proving that something could be done that many people said was impossible.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

Fintech

Leatherback Set for International Growth as EFCC Drops all Fraud and Misconduct Allegations

Published

on

Nigeria’s Economic and Financial Crimes Commission (EFCC) has dropped all allegations of fraud and misconduct against Leatherback, a leading financial services technology company, and the company’s CEO, Toyeeb Ibrahim Ibitade.

In November 2023, EFCC announced that it had been made aware of the possibility of fraudulent activities on the Leatherback platform, leading to an investigation into the company’s operations to establish the facts. Cooperating fully with EFCC and working transparently with the organisation’s officials to provide a forensic view of its operations, Leatherback was able to unequivocally prove its innocence, leading the EFCC to drop all allegations and take down all previous communications on its website and social media platforms (Facebook, Instagram, and Twitter) around the matter.

Leatherback supported the EFCC investigation by making over 5,000 printed documents available to officials to enable as much clarity as possible. Leatherback also filed Suspicious Activity Reports (SARs) in the UK and Nigeria.

According to Toyeeb Ibrahim Ibitade, CEO of Leatherback, “I am relieved to see the end of this arduous episode, but I am even more delighted to see that myself and Leatherback, as an organisation, have been completely cleared of all wrongdoing. With this episode firmly behind us, we are poised to accelerate our mission to provide a single access point that empowers individuals and businesses to be truly global, delivering best-in-class financial, payment, and commerce solutions that remove barriers to global growth and mobility for all citizens of the world.”

Headquartered in London, Leatherback is regulated in the United Kingdom, Nigeria, Ethiopia, Canada, India, Pakistan, Nepal, and Sri Lanka, enabling the platform to serve customers across a wide range of markets effectively. Tens of thousands of individuals and businesses already use the platform to support business and lifestyle opportunities every day. Leatherback is also FCA Authorised, PCI DSS Compliant, and ISO Certified.

About Leatherback

Leatherback offers financial services to businesses and individuals in multiple countries with no restrictions. Users can access up to 15 currencies from 21 countries, including NGN, GBP, INR, EUR, USD, and many other currencies. Users can also send and collect money locally and internationally, with invoicing, analytics, and permissions features available for businesses.

For more information, please visit: http://www.leatherback.co

Continue Reading

Fintech

Carbon Acquires Vella Finance to Enhance SME Offerings

Published

on

Carbon - Investors King

Digital financial services provider Carbon has completed the acquisition of Vella Finance, a Nigerian fintech company specializing in serving small and medium-sized enterprises (SMEs).

The acquisition, announced through an official statement on Wednesday, signifies Carbon’s strategic move to bolster its SME offerings.

Although the financial details of the transaction were not disclosed, Carbon’s acquisition of Vella Finance, founded two years ago under its parent company, One Credit Limited, underscores its commitment to expanding its footprint in the fintech space.

Vella Finance’s expertise in AI-powered SME banking solutions particularly caught the attention of Carbon.

Through this acquisition, Carbon aims to leverage Vella Finance’s innovative technology to provide actionable insights from financial transactions to its SME customers.

Tolu Adedayo, co-founder and COO of Vella Finance, expressed enthusiasm about the integration, noting that several team members from Vella Finance have joined Carbon following the acquisition.

Adedayo further revealed that Vella Finance’s 8,000 SME customers would be transitioned to Carbon Business in the near future.

Chijioke Dozie, co-founder of Carbon, emphasized the alignment of values and vision between Carbon and Vella Finance, highlighting the potential for synergies and growth in the SME banking segment.

The acquisition marks a significant milestone for both companies as they aim to revolutionize financial services for SMEs in Nigeria.

Continue Reading

E-commerce

Alibaba Eyes Gulf Expansion, Seeks Partnerships in Saudi and UAE Markets

Published

on

Alibaba CEO Jack Ma gestures as he is introduced to participate in a panel discussion at the APEC CEO Summit in Manila

Alibaba Group Holding Ltd., the prominent Chinese e-commerce giant, is actively pursuing expansion into the Gulf region, notably in Saudi Arabia and the United Arab Emirates (UAE).

Alibaba’s president, Michael Evans, revealed the company’s strategy during a panel discussion at Dubai’s World Government Summit, highlighting a commitment to local partnerships as a key aspect of their approach.

Evans underscored Alibaba’s recent endeavors in Saudi Arabia, indicating a concerted effort to deepen its presence in the region’s burgeoning e-commerce landscape.

The move signifies Alibaba’s strategic pivot towards collaborative ventures following a period of strategic realignment prompted by government scrutiny and leadership changes.

The Gulf’s growing ties with China, driven by mutual economic interests and investment diversification initiatives, present an opportune moment for Alibaba’s expansion efforts.

However, geopolitical complexities, including heightened US scrutiny of China-linked entities, add a layer of challenge to Alibaba’s Gulf aspirations.

As Alibaba seeks to reclaim its leadership position in the global tech industry, the pursuit of partnerships in Saudi Arabia and the UAE underscores the company’s adaptive approach to international expansion.

The success of these ventures could potentially reshape the Gulf’s e-commerce landscape and deepen economic ties between the region and China.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending