SINGAPORE: British entrepreneur Richard Branson said he expects his Virgin Galactic company to conduct its first space flight “within weeks, not months” in comments broadcast Tuesday.
Speaking to CNBC in Singapore, the billionaire Virgin founder said the company was “more than tantalisingly close” to launching its first mission to space, and that he himself hoped to briefly leave Earth within “months not years.”
“We will be in space with people not too long after that,” he added.
Branson’s Virgin Galactic is racing against Amazon creator Jeff Bezos’ Blue Origin to launch the first out-of-this-world passenger flight and take paying passengers into space.
Both companies will offer customers a weightless experience that will last just minutes, passing through the imaginary line marking where space begins — either the Karman line, at 100 kilometers (62 miles), or the 50-mile boundary recognized by the US Air Force.
At this altitude, the sky looks dark and the curvature of the Earth can be seen clearly.
The first space tourists, who visited the International Space Station (ISS) in the 2000s, paid tens of millions of dollars for the privilege.
Branson said the proposed $250,000 price tag of a Virgin Galactic ticket would allow those who dreamed of visiting space to lift off in larger numbers.
“If I have a room full of 10 people, eight out of 10 would love to go to space if they could afford it,” he said.
“Ultimately,” Branson said he hoped the price of a space flight would come down to around $40,000 or $50,000 over the next decade.”
Branson says Virgin Galactic to launch space flight ‘within weeks’
Branson says Virgin Galactic to launch space flight ‘within weeks’
- Branson said the company was “more than tantalisingly close” to launching its first mission to space
- Branson’s Virgin Galactic is racing against Amazon creator Jeff Bezos’ Blue Origin to launch the first out-of-this-world passenger flight
Saudi stock market opens its doors to foreign investors
RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.
The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.
According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.
International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.
“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”
In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country.
This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.
Saudi Arabia, which is more than halfway through an economic plan to reduce its dependence on oil, has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.
