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| Hi Insiders! Today we cover the news about the Chinese space rocket launch, analysis of U.S. commercial space launches, Jack Ma as visiting professor, lithium export and more. Scroll down for some "Quick Hits" and "Art of the Day." Let us know what you'd like to see more of in our newsletters. Cheers, Vildana
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| 1 | | China set a new national record by launching 41 satellites on a single rocket but fell short of the global record of 143 set by SpaceX in 2021. The Long March 2D rocket took off from Taiyuan Satellite Launch Center in north China, releasing 41 small satellites into orbit. More: - The launch surpassed China's previous record of 26 satellites on a single launch, achieved just days earlier by a Lijian 1 rocket developed by CAS Space.
- CGST aims to launch over 300 satellites by 2025, increasing their earlier plan of deploying 138 Jilin-1 satellites by the end of that year.
- The Long March 2D rocket has a payload capacity of 2,866 pounds (1,300 kg) and can reach a sun-synchronous orbit at 435 miles (700 km).
- China has conducted 24 launches this year and plans to launch over 200 spacecraft in 2023.
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What the numbers say: In 2021, U.S. American companies witnessed a record-breaking 54 commercial space rocket launches, marking the highest figure of this century. This surge in space launches can be attributed to the declining costs of launches and the rise of new commercial players such as SpaceX, Blue Origin, and Rocket Lab, driving significant growth in the industry over the past decade. Relevance: Virgin Galactic plans to launch its first commercial passenger space mission, Galactic 01, following the success of its test flight Unity 25. The announcement follows Richard Branson's space journey and SpaceX's historic private mission to the International Space Station. Galactic 01 is scheduled for launch on June 27, marking a significant milestone in the company's journey toward commercial space travel. Influence: Investment in space startups has soared, with approximately $265B poured into the industry since 2014. Space Capital reports that nearly half of this funding was allocated to U.S. companies, while around 30 percent was invested in Chinese firms. | | | |
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| 3 | | Saudi Foreign Minister Prince Faisal bin Farhan Al Saud visited his Iranian counterpart, Hossein Amirabdollahian, as diplomatic relations continue to develop between the two countries. The visit marks the first by a Saudi official to Iran since 2016, when diplomatic ties were severed following attacks on Saudi diplomatic missions in Iran. More: - Both countries agreed to reopen their embassies within two months after restoring formal diplomatic ties in March.
- Iran has reopened its embassy in Riyadh and consulate general in Jeddah.
- Saudi Arabia has yet to announce its embassy reopening in Tehran.
- The agreement between Iran and Saudi Arabia has positively impacted regional tensions, including in Yemen, where the two countries supported opposing sides.
- Iranian-backed President Bashar al-Assad in Syria was welcomed back into the Arab League last month.
- The visit comes after U.S. Secretary of State Antony Blinken's recent trip to Saudi Arabia and amid reports of indirect talks between Iran and the U.S. in Oman to reduce tensions.
Zoom Out: - According to Trita Parsi, VP of the Washington, DC-based Quincy Institute, having failed to normalize ties with the West, Iran considers stronger ties with other countries in the Middle East as an alternative now.
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| 4 | | Jack Ma conducted his first class as a visiting professor at the University of Tokyo, sharing his rich experience in entrepreneurship and innovation. The two-hour "Innovation and Entrepreneurship" seminar was organized by Tokyo College and the University of Tokyo's Global Leadership Programme (GLP), attracting international students from Japan, China, India, and Malaysia. More: - Ma's return to public life as an educator and researcher highlights his focus on academia and research while keeping a distance from Alibaba and his business empire.
- In addition to the University of Tokyo, Ma holds visiting professor positions at the African Leadership University in Rwanda, Tel Aviv University in Israel, and an honorary professorship at the University of Hong Kong.
- Ma's involvement in academic activities aligns with his stepping down from corporate roles and ceding control of Ant Group.
- Over the past few years, Ma has been actively engaged in academic and agricultural events, exploring farming and fishery practices.
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| 5 | | Dozens were killed and hundreds are missing as a migrant boat traveling from Libya to Italy capsized off the coast of Greece, leading EU Commissioner Ylva Johansson to describe it as the worst tragedy ever in the Mediterranean. The sinking highlights the ongoing EU refugee crisis, with migrants risking dangerous journeys to Europe to escape war, persecution, climate change, and poverty. More: - Johansson condemned the smugglers who put people on these boats, emphasizing the need to prevent such tragedies and find different ways to fight against them.
- Greek authorities have faced criticism for their handling of the disaster, including allegations of towing the boat incorrectly, leading to its capsizing.
- The International Organization for Migration (IOM) and the UN Refugee Agency (UNHCR) called for urgent action to prevent further deaths in the Mediterranean and stress the duty to rescue people in distress at sea.
- A search and rescue operation resulted in the rescue of over 100 people, but the true toll of the disaster is yet to be determined, with some reports suggesting up to 750 people were on board.
Zoom Out: - Last year saw the highest number of deaths on migration routes in the Middle East and North Africa since 2017, with nearly 3,800 individuals losing their lives.
- A significant rift occurred within the EU in 2015 when Western European nations sought to impose a contentious proposal to distribute 120,000 refugees across the Continent, including to unwilling countries, using majority voting, leading to a major division.
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| 6 | | Argentina's lithium exports reached a record high of $60M in May, marking a 17% increase compared to the previous year. Lithium accounted for 19% of Argentina's mining exports in May, according to the country's mining secretariat. More: - Argentina has emerged as the world's fastest-growing lithium producer, with three active lithium mines and 38 under development.
- The surge in Argentina's lithium industry aligns with the global competition for crucial minerals used in electric vehicles (EVs) between the United States and China.
- From January to May, lithium exports reached $369M, an impressive 84% surge compared to the same period last year, setting a record for the five-month timeframe.
- The lithium industry in Argentina has contributed to job growth, with a 59% increase in employment, employing 3,788 people as of February, adding 1,406 new positions.
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- Ugandan authorities recovered the bodies of 41 people, including 38 students, who were burned, shot, or hacked to death after suspected rebels attacked a secondary school, the local mayor said Saturday.
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