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
Closing Bell: Saudi benchmark index closes lower at 10,540
RIYADH: Saudi equities ended Wednesday’s session lower, with the Tadawul All Share Index falling 55.13 points, or 0.52 percent, to close at 10,540.72.
The sell-off was mirrored across other indices, with the MSCI Tadawul 30 Index retreating 5.79 points, or 0.41 percent, to close at 1,393.32, while the parallel market Nomu slipped 74.56 points, or 0.32 percent, to 23,193.21.
Market breadth remained firmly negative, as decliners outpaced advancers, with 207 stocks ending the session lower against just 51 gainers on the main market.
Trading activity moderated compared to recent sessions, with volumes reaching 123.5 million shares, while total traded value stood at SR2.72 billion ($725.2 million).
On the sectoral and stock level, Al Moammar Information Systems Co. led the gainers after surging 9.96 percent to close at SR172.30, extending its rally following a series of contract announcements tied to data center and IT infrastructure projects.
Al Masar Al Shamil Education Co. climbed 4.89 percent to SR27.48, while Naqi Water Co. advanced 3.36 percent to SR58.50. Al Yamamah Steel Industries Co. and Al-Jouf Agricultural Development Co. also posted solid gains, rising 3 percent and 2.86 percent, respectively.
Losses, however, were concentrated in industrial names. Saudi Kayan Petrochemical Co. fell 3.67 percent to SR4.73, while Makkah Construction and Development Co. slid 3.44 percent to SR80.
Saudi Tadawul Group Holding Co. retreated 3.28 percent to SR147.50, weighed down by broader market weakness, and Saudi Cable Co. declined 3.18 percent to SR143.
Alkhaleej Training and Education Co. rounded out the top losers, shedding just over 3 percent.
On the announcement front, BinDawood Holding announced the signing of a share purchase agreement to acquire 51 percent of Wonder Bakery LLC in the UAE for 96.9 million dirhams, marking a strategic expansion of its food manufacturing footprint beyond Saudi Arabia.
The acquisition, which remains subject to regulatory approvals, is expected to support the group’s regional growth ambitions and strengthen supply chain integration.
BinDawood shares closed at SR4.68, up 0.43 percent, reflecting a positive market reaction to the overseas expansion move.
Meanwhile, Al Moammar Information Systems disclosed the contract sign-off for the renewal of IT systems support licenses with the Saudi Central Bank, valued at SR114.4 million, inclusive of VAT.
The 36-month contract is expected to have a positive financial impact starting from fourth quarter of 2025, reinforcing MIS’s position as a key technology partner for critical government institutions. The stock surged to the session’s limit making it the top gainer.
In a separate disclosure, Maharah Human Resources confirmed the completion of the sale of its entire stake in Care Shield Holding Co. through its subsidiary, Growth Avenue Investments, for a total consideration of SR434.3 million.
The transaction involved the transfer of 41.36 percent of Care Shield’s share capital to Dallah Healthcare, with Maharah receiving the full cash proceeds.
Despite the strategic divestment, Maharah shares closed lower, ending the session at SR6.12, down 1.29 percent.
