Japan's space debris firm Astroscale to tie up with India's Digantara, Bellatrix Aerospace
Summary
Companies
Astroscale aims for Indian government clients, Japan unit chief Kato says
Also interested in South Korea, Taiwan, Indonesia and Australia, Kato says
India's space policy shift boosts commercial opportunities, crossborder tie-ups
TOKYO/BENGALURU, March 21 (Reuters) - Japan's Astroscale (186A.T), opens new tab, a company specialised in removing orbital junk, has agreed with Bengaluru-based space companies Digantara and Bellatrix Aerospace to collaborate on technology and services, it said on Friday.
The tie-ups will "hopefully" result in an orbital services bid for Indian clients "in one to two years", which would mark Astroscale's first operations in Asia-Pacific outside its home, its Japan unit president Eddie Kato said.
"India has been on our top list of possible markets" with established space capabilities, where Astroscale's on-orbit servicing technology would meet demand, Kato told Reuters. Astroscale is also interested in South Korea, Taiwan, Indonesia and Australia, he added.
"India's space policy used to be rather protectionist, but we've seen very rapid moves, to bolster ties with the United States and liberalise the market for commercial actors - even fostering them," Kato said.
The agreement did not contain any monetary terms.
India has opened the country's space sector beyond the state-owned Indian Space Research Organisation (ISRO) to private players and created a 10 billion rupee ($116 million) fund to support startups.
At home, Astroscale is working with the Japan Aerospace Exploration Agency (JAXA) to demonstrate a commercial debris removal mission in 2027. It has also won orders from the U.S. Space Force and space agencies of Britain and France, which include experimental services to extend a satellite's lifespan.
As the number of orbiting satellites increases, potential collisions could create more than $500 million in risk over the next five years, according to an industry estimate.
Digantara provides space situational awareness services to monitor orbital objects and has contracts with multiple U.S. defence agencies. Bellatrix Aerospace manufactures satellite propulsion systems.
With the partners, Astroscale would first provide on-orbit services for Indian government clients, Kato said.
The partnership would "help unlock new market opportunities across both established and emerging space economies," Digantara's Vice President Shreyas Mirji said in a statement.
It "marks a significant step for us as we venture into the Japanese market," said Bellatrix chief executive Rohan M Ganapathy.
The move was the latest of budding tie-ups between Japanese and Indian space companies, such as between moon explorer ispace (9348.T), opens new tab and rocket maker Skyroot, as well as SKY Perfect JSAT-affiliated (9412.T), opens new tab Orbital Lasers and robotics firm InspeCity.
The Indian and Japanese governments will hold their third round of "space dialogue" policy talks in Tokyo in coming days, officials say.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
4 hours ago
- Reuters
TRADING DAY Buoyancy trumping uncertainty
ORLANDO, Florida, June 10 (Reuters) - TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist I'm excited to announce that I'm now part of Reuters Open Interest (ROI), an essential new source for data-driven, expert commentary on market and economic trends. You can find ROI on the Reuters website, and you can follow us on LinkedIn and X. Global markets remain buoyant, awaiting the outcome of U.S.-China trade talks in London and U.S. inflation figures on Wednesday, both of which could have a bearing on guidance from the Federal Reserve next week and investor sentiment more broadly. In my column today I look at how the Trump administration's crackdown on immigration could cause labor market distortions and headaches for Fed officials. More on that below, but first, a roundup of the main market moves. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today. Today's Key Market Moves Buoyancy trumping uncertainty On the day The World Bank slashed global growth forecasts, warning of the "significant headwind" from tariffs and heightened uncertainty, global stocks clocked their fifth consecutive all-time high. Britain's benchmark FTSE 100 is a whisker from reaching new peaks and Germany's DAX hit an all-time high last week, while on Wall Street the Nasdaq and S&P 500 are within a couple of percentage points of new record levels also. Yet the reasons for equity investors to be fearful right now are plentiful - worries over growth, inflation, tariffs, long-term interest rates, U.S. debt and deficits, and the fact that China, the world's second-largest economy, is still mired in a low growth and deflationary funk. Something not quite adding up, right? Perhaps. On the other hand, the fiscal taps are being turned on in China and Germany, British finance minister Rachel Reeves outlines her multi-year 2 trillion pounds ($2.7 trillion) spending plan on Wednesday, and U.S. President Donald Trump's 'big beautiful bill' currently going through Congress is front-loaded with fiscal stimulus too. None of that is really fresh news but the upshot is a lot of liquidity coursing through the global economy. Right now it is something investors appear willing to accept even if the price is increased debt, and for the U.S. and UK in particular, worse public finances. Big corporate deals are being struck, like the OpenAI and Google cloud service tie-up and Meta Platforms reportedly paying $15 billion for a 49% stake in AI startup Scale AI, and implied equity and bond volatility is low. After a period of fretting more about deficits and spiking bond yields, investors may now be viewing the future with their glass half full. Fiscal stimulus is coming and interest rates around the world are being cut. The monetary outliers are Japan and the U.S., but the Bank of Japan could be near the end of its tightening cycle and the Fed may be about to begin easing later this year. On top of this, there's a general belief that Trump will back down from his hardline stance on tariffs and that a palatable deal with China will be reached, the so-called 'TACO' - Trump Always Chickens Out - trade. Fresh news on that front, at least, should be forthcoming on Wednesday. Trump immigration crackdown creates jobs distortions, Fed headaches Seismic shifts in immigration are distorting the U.S. employment picture, making it harder for investors and policymakers to know exactly how much the labor market is actually slowing. Assuming the Trump administration makes good on its pledge to reduce immigration, either by stopping the flow of people coming into the country or by deporting many already here, the labor supply will shrink. The long-term impact of lower immigration is generally agreed to be negative, as new workers are needed to replace retirees, fill job vacancies and drive economic growth. Over time, fewer new workers will likely mean lower growth. But in the short term, a smaller pool of workers results in a tighter labor market, which keeps a lid on the unemployment rate, albeit artificially and probably temporarily. This may already be playing out. Figures released last week showed that employment in May fell by 696,000 jobs. That's the biggest single monthly decline since the historic losses seen during the pandemic in early 2020. Some economists argue that the recent drop is a consequence of Trump's immigration crackdown. Nonfarm payrolls rose 139,000. Meanwhile, the unemployment rate held steady at 4.2%, which though higher than it was two years ago, is still historically low by any measure. All else being equal, this points to a tight labor market, which should put upward pressure on wages and perhaps even warrant a more hawkish policy stance from the Federal Reserve. But that is almost certainly a misreading. When labor supply and the labor force participation rate fall, this brings down a country's so-called 'breakeven' job growth. That's the number of net new jobs the economy needs to keep up with growth in the working-age population and maintain a steady unemployment rate. That figure is falling, and if the Trump administration toughens up its anti-immigration policies further, this decline is likely to accelerate. According to economists at Morgan Stanley, breakeven employment growth averaged 210,000 jobs a month last year, and is averaging 170,000 so far this year. They reckon it will fall to 90,000 by the end of this year and 80,000 next year. Ryan Sweet, chief U.S. economist at Oxford Economics, goes further, estimating that the breakeven rate is "quickly approaching" 50,000 jobs a month due to weakening labor supply growth, primarily because of reduced immigration. "The unemployment rate can remain low, but for the wrong reasons," Sweet says. If these projections prove accurate, monthly employment and job growth could continue to slow without raising the unemployment rate. The contradictory signals this sends could create confusion for both investors and policymakers. In his press conference after the most recent Fed policy meeting, Chair Jerome Powell repeatedly told reporters that the labor market is "solid". The unemployment rate "remains low," and the labor market is "at or near maximum employment." If these headline indicators are the gauge, Powell is absolutely correct. But he also stressed that policymakers are looking at the "whole huge array" of labor market indicators for a truer guide. One of those inputs in the months ahead will no doubt be net immigration. And that could generate significant uncertainty, as there are huge gray areas and wide margins of error when trying to estimate net immigration and its impact on the labor market. In January, the non-partisan Congressional Budget Office projected net immigration of 2 million people this year and 1.5 million next year, down from an estimated 3.3 million in 2023. With Trump seemingly hardening his stance on immigration, those projections could turn out to be far too high. Morgan Stanley's economists just slashed their immigration forecasts to 800,000 this year and 500,000 next year. If these figures turn out to be closer to reality, we could soon be looking at a "tight" labor market with monthly payrolls gains of well under 100,000. Pity the poor Fed Chair who has to communicate policy in that environment. What could move markets tomorrow? Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias.
Business News Wales
4 hours ago
- Business News Wales
Awards Recognise Training Company's Apprenticeship Stars
Winners of the Apprenticeship, Employment and Skills Awards organised by Cambrian Training Company. The achievements of apprentices, employers and work-based learning practitioners from across Wales were celebrated at an awards ceremony in Mid Wales. Twenty-seven finalists competed for the Apprenticeship, Employment and Skills Awards organised by work-based learning provider Cambrian Training Company. The awards, held at The Metropole Hotel & Spa, Llandrindod Wells, recognised employers, learners and practitioners who have excelled in apprenticeship programmes delivered by the Welshpool-based company and its sub-contractors. A popular winner was autistic apprentice Aaron Jones, a waiter at Penycae Inn, Penycae, near Swansea, who received a standing ovation after collecting the Apprentice Special Recognition 2025 Award. 'In receiving this very special award, I am enormously proud and owe it to every single person in the audience but above all to my fellow team of staff at Penycae Inn and to those that have autism and other profound learning needs,' he told the audience. 'As a person with autism who works in the hospitality industry, this award means so much to me. Anybody with a learning or physical disability who is considering doing an apprenticeship should absolutely go for it.' He praised Cambrian Training Company's hospitality training officers Andrew Addis-Fuller and Leah Williams for their support and encouragement to achieve his goals, which include completing his Hospitality Supervision and Leadership Apprenticeship early next year. Aaron Jones from Penycae Inn receives the Apprentice Special Recognition 2025 Award from Arwyn Watkins, OBE The Foundation Apprentice of the Year was awarded to Cameron Long, a cleaning support services attendant at Elite Clothing Solutions, Ebbw Vale, who has completed a Supported Shared Apprenticeship with support from Elite Supported Employment. Apprentice of the Year was Cai Watkins, head of business unit contract manager for Cambrian Training Company, Welshpool, while the Higher Apprentice of the Year award went to Mathew Verallo, operations manager for The Celtic Collection's Tŷ Milford Waterfront, Milford Haven. The awards for employers was keenly contested. The Small Employer of the Year was Silver Assist Homecare, Llangorse, Brecon, Filco Markets, Llantwit Major collected the Medium Employer of the Year Award and Achieve Together, Cardiff was named Large Employer of the Year. Outstanding Individual of the Year was Denise Hodson, a playworker at Little Disciples Childcare, Penymynydd, Flintshire and Welsh Ambassador of the Year was Phoebe Wilson, lead training officer at Clybiau Plant Cymru Kids' Clubs, Cardiff. Practitioner of the Year was Elfed Wood, from Portal Training, Cardiff, the Employer Special Recognition Award went to The Grove, Narbeth and Kepak, Merthyr Tydfil was recognised for Outstanding Contribution to Apprenticeships. 'Among our winners and finalists are inspiring stories of personal growth and professional development,' said Faith O'Brien, Cambrian Training Company's managing director. 'This year's awards ceremony was a testament to the dedication, passion and hard work of our apprentices, employers and supporters. From the Apprentice of the Year awards to the recognition of outstanding employers and individuals, each accolade reflects the transformative power of apprenticeships in shaping careers and communities. 'Let's continue supporting and championing vocational education. Together, we can create a future where every individual has the opportunity to thrive through learning and development.' The other finalists were: Foundation Apprentice of the Year Award: Josh Williams, a receptionist at Whitbread Premier Inn, Bangor and Leanne Barratt, a chef at Mitchell & Butlers' Miller & Carter, Killay. Apprentice of the Year Award: Deanne Rance, area manager for Lonetree-McDonalds, Newport and Jodie Bowater, hotel manager Whitbread Premier Inn, Bangor. Higher Apprentice of the Year: Ashley Richards, general manager at Peppermint Cardiff and Keri-Ann Evans, head chef at Bluestone, Narberth. Outstanding Individual of the Year: Rachael Bowles, blending room team leader for Hilltop Honey, Newtown and Aaron Jones, a waiter at Penycae Inn, Penycae, near Swansea. Small Employer of the Year: Nazareth House, Cardiff and Interplay, Penlan, Swansea. Medium Employer of the Year: Voco St David's Cardiff and The Grove, Narberth. Large Employer of the Year: Kepak, Merthyr Tydfil and Urdd Gobaith Cymru. Welsh Language Ambassador: Catherine Smith, training officer at Clybiau Plant Cymru Kids' Clubs and Samantha James, restaurant manager at Millie & Sid's, Tywyn. Work-based Learning Practitioner: Sean Williams from Sirius Skills Consulting, Mountain Ash and Sarah Bird from Clybiau Plant Cymru, Cardiff.
Reuters
6 hours ago
- Reuters
Brazil's fiscal package to include higher tax on interest on equity
BRASILIA, June 10 (Reuters) - Brazil's Finance Minister Fernando Haddad said on Tuesday that the government's new fiscal package includes an increase in the income tax rate levied on so-called interest on equity (JCP) payments to 20% from 15%. JCP is a form of shareholder remuneration that allows companies to deduct such payments from their corporate tax base. Speaking to reporters, Haddad said that the decision to include the measure - previously proposed by the government but not voted on by Congress - came at the request of lawmakers. Haddad also confirmed that the fiscal package includes the unification of income tax rates on financial investments at 17.5%, replacing the current sliding scale of 15% to 22.5%, which varies according to the investment's holding period. The new rate would apply to all investments, including stocks and bonds, except those currently exempt from income levy, which would begin to be taxed at 5%, as Haddad had already disclosed on Sunday. The minister, who spoke after returning from a meeting with President Luiz Inacio Lula da Silva, said the additional revenue generated by the package would be used primarily to revise the previously imposed financial operation tax (IOF) hike on forfait operations. The IOF decree, which had been introduced to boost public revenues and also raised the tax on private pension funds and some credit and foreign exchange transactions, triggered strong pushback from both Congress and market players, prompting the government to seek an alternative path as lawmakers threatened to overturn the measure. Haddad defended the new fiscal measures on Tuesday, arguing that they are likely to support the strengthening of the Brazilian currency, pave the way for interest rate cuts, and help ensure compliance with this year's and 2026 fiscal targets.
