UK to invest EUR163.3 million in French satcom firm Eutelsat; Macron says "together we go further"
This additional investment commitment from the UK (The Secretary of State for Science, Innovation and Technology of the United Kingdom) will increase the total amount to be raised to Euro 1.5 billion, underpinning the execution of Eutelsat's long-term strategic vision.
The other investors in Eutelsat are France's Agence des Participations de l'Etat, Bharti Space Limited, CMA CGM, FSP, and others.
'Thanks to our British friends as they continue to follow us on the Eutelsat adventure! We're over the moon to keep going with you. Together we go further!' French President Emmanuel Macron said in a post on X.
Macron is on a state visit to the UK.
In June 2025, Macron, while speaking at the Paris Air Show in Le Bourget, had called for more investment from other countries as well such as India to team up with France. He had said 'This must be the solution for our major strategic partners in the Gulf, India, Canada and Brazil.'
Peter Kyle, Secretary of State for Science, Innovation and Technology added satellites underpin industrial activity worth Euro 364 billion to the UK economy.
'But their critical role extends far beyond economic growth,' noted Kyle.
Sunil Bharti Mittal, Co-Chairman, Eutelsat Group stated: 'I am delighted that the UK has joined Bharti and the French State in announcing further investment in Eutelsat Group, and I thank Prime Minister Starmer for his vision and leadership on this matter.'
'Today, governments require secure and reliable sovereign connectivity solutions, and Eutelsat is uniquely positioned to meet this need. Eutelsat's OneWeb was the first complete low-Earth orbit constellation, and the company is the first and only provider able to provide customers with access to both low-Earth orbit and geostationary orbit services. This new capital injection will allow Eutelsat to go further and faster in developing innovative new technologies and services under the leadership of its new CEO, Jean-Francois Fallacher.'
'I echo President Macron's words at the Paris Air Show last month, where he urged France's major strategic partners in the Gulf, India, Canada and Brazil to join the coalition backing Eutelsat Group as the global Space Champion,' Mittal added.
Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide.
The Group was formed through the combination of the Company and OneWeb in 2023. It is headquartered in Paris and the Eutelsat Group employs more than 1,500 people across more than 50 countries. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
4 hours ago
- Winnipeg Free Press
Can his golf course ‘further' US-UK relations? Trump will use meeting with prime minister to try
EDINBURGH, Scotland (AP) — President Donald Trump once suggested his golf course in Scotland 'furthers' the U.S.-U.K. relationship. Now he's getting the chance to prove it. British Prime Minister Keir Starmer is meeting Monday with Trump at a golf property owned by the president's family near Turnberry in southwestern Scotland — then later traveling to Abderdeen, on the country's northeast coast, where there's another Trump golf course and a third is opening soon. During his first term in 2019, Trump posted of his Turnberry property, 'Very proud of perhaps the greatest golf course anywhere in the world. Also, furthers U.K. relationship!' Starmer is not a golfer, but toggling between Trump's Scottish courses shows the outsized influence the president puts on properties bearing his name — and on golf's ability to shape geopolitics. While China initially responded to Trump's tariff threats by retaliating with high import taxes of its own on U.S. goods but has since begun negotiating easing trade tensions, Starmer and his country have taken a far softer approach. He's gone out of his way to work with Trump, flattering the president repeatedly during a February visit to the White House, and teaming up to announce a joint trade framework on tariffs for some key products in May. Starmer and Trump then signed a trade agreement during the G7 summit in Canada that freed the U.K.'s aerospace sector from U.S. tariffs and used quotas to reduce them on auto-related industries from 25% to 10% while increasing the amount of U.S. beef it pledged to import. The prime minister's office says Monday's meeting will also touch on Israel's war with Hamas in Gaza, and that it hopes to welcome the Trump administration working with officials in Qatar and Egypt to bring about a ceasefire. Starmer plans to stress the urgent need to cease the fighting and work to end starvation and other suffering occurring amid increasingly desperate circumstances in Gaza. Also on the agenda, according to Starmer's office, are efforts to promote a possible peace deal to end fighting in Russia's war with Ukraine — particularly efforts at forcing Russian President Vladimir Putin to the negotiating table in the next 50 days. Protesters, meanwhile, have planned a demonstration in Balmedie, near Trump's existing course, after demonstrators took to the streets on Saturday to decry the president's visit. Discussions with Starmer follow Trump meeting Sunday with European Commission chief Ursula von der Leyen at his Turnberry course. They announced a trade framework that will put 15% tariffs on most goods from both countries — though many major details remain pending. On Tuesday, Trump will be at the site of his new course near Aberdeen for an official ribbon cutting. It opens to the public on Aug. 13 and tee times are already for sale — with the course betting that a presidential visit can help boost sales. There are still lingering U.S.-Britain trade issues that need fine-tuning after the previous agreements, including the tariff rates Washington imposes on steel imported from the U.K. Even as some trade details linger and both leaders grapple with increasingly difficult choices in Gaza and Ukraine, however, Starmer's attempts to stay on Trump's good side appears to be working. 'The U.K. is very well-protected. You know why? Because I like them — that's their ultimate protection,' Trump said during the G7. Also likely to improve Trump's mood is the fact that the U.S. ran an $11.4 billion trade surplus with Britain last year, meaning it exported more to the U.K. than it imported. Census Bureau figures this year indicate that the surplus could grow. The president has for months railed against yawning U.S. trade deficits with key allies and sees tariffs as a way to try and close them in hurry. Trump is set to return to Britain in September for an unprecedented second state visit. Trump will be hosted then by King Charles III and Queen Camilla at Windsor Castle.
Canada News.Net
14 hours ago
- Canada News.Net
Starmer, Modi hail long-sought India-UK free trade deal
LONDON, U.K.: In a significant step forward for post-Brexit Britain and rising global power India, Prime Ministers Keir Starmer and Narendra Modi on July 24 concluded a long-awaited free trade agreement that will dramatically reduce tariffs on key goods and deepen economic and strategic cooperation between the two countries. The signing took place at Chequers, the British Prime Minister's official country residence, where trade ministers Jonathan Reynolds of the U.K. and Piyush Goyal of India formalized the pact. The deal, years in the making, was hailed as a turning point in bilateral relations and a symbol of renewed ambition on both sides. Starmer described it as "the most substantial and economically transformative trade agreement" the United Kingdom has entered into since its departure from the European Union in 2020. Modi, echoing the sentiment, called it "a historic day" in India–U.K. relations. Alongside the trade pact, the two nations unveiled nearly six billion pounds (US$8 billion) in new commercial and investment commitments across strategic sectors such as artificial intelligence, aerospace, dairy, and clean energy. Both leaders pledged closer collaboration in defense, climate action, healthcare, and migration policy. The deal, which still requires ratification by the British Parliament, has been in negotiation since early 2022. Talks were launched initially under then-Prime Minister Boris Johnson, who ambitiously promised a conclusion by the Diwali festival that year. However, negotiations saw multiple delays under the former Conservative government, only gaining new momentum after the 2024 elections, which saw Modi win re-election and Labour come to power under Starmer. Under the agreement, India's average tariff on British exports will drop sharply from 15 percent to three percent. Notably, tariffs on Scotch whisky and English gin — long a sticking point — will be cut in half from 150 percent to 75 percent, and gradually reduced to 40 percent over a decade. Automotive tariffs, which currently exceed 100 percent, will fall to 10 percent under a tariff-rate quota system. The U.K. projects that the deal will boost bilateral trade by 25.5 billion pounds ($35 billion) annually by 2040 and inject nearly five billion pounds ($6.8 billion) a year into the British economy. Meanwhile, India's Trade Ministry has stated that 99 percent of Indian exports, including textiles, leather goods, and food items, will be granted duty-free access to the U.K. market. Beyond the numbers, the agreement underscores a renewed political and cultural closeness. Nearly two million people of Indian origin live in the U.K., a legacy of deep historical ties dating back to the colonial era, which ended in 1947. Starmer emphasized that shared heritage and people-to-people connections provide a strong foundation for a modern partnership. "The U.K. and India have unique bonds of history, of family and of culture," he said. "This deal marks the beginning of a new chapter — ambitious, modern, and built for the future." With a nod to the cricket rivalry currently playing out between the two nations, Modi added a lighthearted metaphor: "Cricket is a great symbol of our partnership. There may be a swing and a miss at times, but we always play with a straight bat. Together, we are building a high-scoring, enduring alliance." The agreement is seen not just as a bilateral milestone, but as a signal of Britain's growing pivot toward the Indo-Pacific and India's emergence as a central player in global trade diplomacy.
Toronto Sun
16 hours ago
- Toronto Sun
Threat of U.S.-EU trade war looms as Trump and von der Leyen plan talks in Scotland
Published Jul 27, 2025 • 3 minute read President of the European Commission Ursula von der Leyen shakes hands with U.S. President Donald Trump during a meeting at Trump Turnberry golf club on July 27, 2025 in Turnberry, Scotland. Photo by Andrew Harnik / Getty Images EDINBURGH, Scotland — President Donald Trump is meeting Sunday with European Commission chief Ursula von der Leyen, taking a break from golfing in Scotland to discuss trade as both sides seek an agreement on tariff rates with the White House's deadline to impose stiff import taxes looming this week. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Trump continued his golfing weekend at his course in Turnberry on the southwest coast of Scotland with a group that included sons Eric and Donald Jr. and their wives. The Republican president waved at reporters and listened to shouted questions about the prospect of reaching a European Union deal during his private afternoon meeting with von der Leyen, but he offered no comment. Trump's five-day visit to Scotland is built around golf and promoting properties bearing his name. A small group of demonstrators at the course waved American flags and raised a sign criticizing British Prime Minister Keir Starmer, who plans his own Turnberry meeting with Trump on Monday. Other voices could be heard cheering and chanting 'Trump! Trump!' as he played nearby. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. On Tuesday, Trump will be in Aberdeen, in northeastern Scotland, where his family has another golf course and is opening a third next month. The president and his sons plan to help cut the ribbon on the new course. Trump for months has threatened most of the world with steep tariffs in hopes of shrinking large U.S. trade deficits with many key trading partners. The EU has been no exception. Trump has said 'we have a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal with the EU.' He also suggested that any deal would have to 'buy down' the currently scheduled tariff rate of 30% on the bloc of 27 member states. Scheduled to join von der Leyen were Maros Sefcovic, the EU's chief trade negotiator; Björn Seibert, the head of von der Leyen's Cabinet; Sabine Weyand, the commission's directorate-general for trade, and Tomas Baert, head of the trade and agriculture at the EU's delegation to the U.S. They planned a news conference after the talks. This advertisement has not loaded yet, but your article continues below. The U.S. and EU seemed close to a deal earlier this month, but Trump instead threatened a 30% tariff rate. The deadline for the Trump administration to begin imposing tariffs has shifted in recent weeks but is now set for Friday. 'No extensions, no more grace periods. Aug. 1, the tariffs are set, they'll go into place, Customs will start collecting the money and off we go,' U.S. Commerce Secretary Howard Lutnick told 'Fox News Sunday.' He added, however, that even after that 'people can still talk to President Trump. I mean, he's always willing to listen.' Lutnick said the EU 'needs to make a deal and wants to make a deal and they are flying to Scotland to make a deal with President Trump. The question is do they offer President Trump a good enough deal that is worth it for him to step off of the 30% tariffs that he set.' This advertisement has not loaded yet, but your article continues below. Without an agreement, the EU says it is prepared to retaliate with tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing airplanes. If Trump eventually makes good on his threat of tariffs against Europe, it could make everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the United States. Trump recently said he thought the odds of reaching a framework with Japan was 25%, but the allies announced an agreement this past week. His focus on trade has followed him to Scotland. On Saturday, he posted on his Truth Social platform that he would block any trade deals between the U.S. and Cambodia and Thailand because of their violent clashes along long-disputed border areas. This advertisement has not loaded yet, but your article continues below. Trump wrote that he spoke with Cambodian Prime Minister Hun Manet and Phumtham Wechayachai, the acting prime minister of Thailand, to call for a ceasefire. Both countries, Trump said, want to 'get back to the 'Trading Table' with the United States, which we think is inappropriate to do until such time as the fighting STOPS. … When all is done, and Peace is at hand, I look forward to concluding our Trading Agreements with both!' The U.S. and Britain, meanwhile, announced a trade framework in May and a larger agreement last month during the Group of Seven meeting in Canada. Trump says that deal is concluded and that he and Starmer will discuss other matters, though the White House has suggested it still needs some polishing. Sports Columnists Sunshine Girls Toronto & GTA Toronto & GTA
