UK grants space launch licence to Scottish firm
Skyrora, founded in 2017, would be able to conduct up to 16 launches a year, subject to further approval by the UK Civil Aviation Authority (CAA), the regulator said on Tuesday.
The Scotland-based company would use the SaxaVord Spaceport in the Shetland Islands, northern Scotland, which received a key safety licence last year, meaning rockets could be launched from the site in the future.
Germany's Rocket Factory Augsburg was the first company to gain a licence to launch from the site earlier this year.
'Granting a home-grown company, Skyrora, its launch licence is a major milestone for our space sector and our nation,' CAA CEO Rob Bishton said.
The space market is forecast to be worth more than $1-trillion (R18.04-trillion) by 2030 as companies around the world plan to deploy thousands of internet-beaming satellites.
Britain has been looking to add launch capabilities to its space industry, which employs more than 45,000 people and builds more satellites than anywhere outside the US.
But those efforts were dealt a major blow in early 2023 when a horizontal rocket launch from Newquay, southwest England, failed. A successful vertical launch from SaxaVord would revive the industry's prospects.
'Skyrora is proud to be leading efforts that enable launch activity from the UK and we look forward to achieving a reliable commercial launch programme that benefits us all,' CEO Volodymyr Levykin said.
The company needs to meet a number of conditions before any launch, including adequate insurance, a data-sharing deal with the British government and airspace agreements with other countries.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
2 hours ago
- IOL News
High Court confirms preservation order against Amalgamated Tobacco Manufacturing in tax evasion case
TAX Justice South Africa (TJSA) in a statement on Tuesday welcomed a High Court judgment confirming a preservation order against Amalgamated Tobacco Manufacturing and 19 other entities, who are accused of a sophisticated multi-million-rand tax evasion racket. . Image: Courtney Africa/Independent Newspapers TAX Justice South Africa (TJSA) in a statement on Tuesday welcomed a High Court judgment confirming a preservation order against Amalgamated Tobacco Manufacturing and 19 other entities, who are accused of a sophisticated multi-million-rand tax evasion racket. The Fair-Trade Independent Tobacco Association (FITA), who represents independent cigarette manufacturers, respects the judicial process and the role of the courts in upholding the rule of law. In the judgment, the High Court of South Africa, KwaZulu-Natal Local Division, Durban ruled that the provisional preservation order granted on February 27, 2025 against the ninth and tenth respondents (South African Revenue Service v Kajee and Others) is confirmed. TJSA said that the KwaZulu-Natal High Court has dismissed challenges to the South African Revenue Service's preservation order, allowing Sars to continue securing assets while investigating more than R96 million in suspicious financial transfers involving the Pietermaritzburg-based cigarette maker. TJSA founder Yusuf Abramjee said that this case demonstrates exactly why Sars needs robust investigative powers and why the illicit tobacco trade continues to devastate our fiscus. 'When a court finds a tobacco manufacturer has a case to answer over millions in under-declared income, it confirms what we've been saying for years – the industry is riddled with tax dodgers who are bleeding our country dry.' TJSA said that Amalgamated Tobacco – as well as local industry body the Fair-Trade Independent Tobacco Association (FITA) – is fighting Sars's legal right to install surveillance cameras in cigarette factories. Abramjee said that while legitimate manufacturers should welcome transparency measures, those opposing surveillance systems clearly have something to conceal. 'If the allegations in this case are true, then it will vindicate Sars's approach to enhance monitoring of the tobacco sector. The illicit cigarette trade now commands more than 70% of the South African cigarette market, robbing the country of approximately R30 billion in tax revenue annually. This massive revenue loss undermines public health initiatives, education funding, and essential government services.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Abramjee added that this R96 million case is just the tip of the iceberg. 'The Government must ensure that Sars has the resources to expand these investigations to other major players in the illicit tobacco trade.' FITA chairperson Sinenhlanhla Mnguni said that they note the recent judgment delivered by the High Court of South Africa, KwaZulu-Natal Local Division, Durban, in the matter of Commissioner for South African Revenue Service v Kajee and Others (Case No. D1514/2025). 'FITA respects the judicial process and the role of the courts in upholding the rule of law. FITA has consistently and unequivocally supported all legitimate efforts by the state, regulatory authorities, and industry stakeholders to combat smuggling and the illicit trade in cigarettes. These illicit activities undermine the integrity of the market, deprive the fiscus of vital revenue, and harm legitimate businesses across the sector.' Mnguni added that they commend any actions that promote transparency, accountability, and fair competition, and stand ready to collaborate with Sars and other entities to eradicate these threats. 'Compliance in the tobacco industry must be approached holistically, taking into account the full spectrum of challenges and dynamics at play. It is concerning when enforcement appears to be selectively focused on isolated aspects, potentially overlooking broader systemic issues that contribute to non-compliance. This narrow lens risks distorting the true picture of the industry, which is far more complex.' Mnguni said that they urge all stakeholders, including Sars, to adopt a comprehensive and equitable strategy that addresses root causes such as economic disparities, regulatory gaps, and unfair trade practices affecting smaller, independent players. 'Only through such a balanced approach can we achieve sustainable compliance and a level playing field for all participants in the South African tobacco market.' Professor Corné van Walbeek, the director of the Research Unit on the Economics of Excisable Products, from the University of Cape, said that illicit trade in South Africa is a very serious matter. 'The illicit trade in cigarettes accounts for more than 50% of the total market. A large proportion of illicit cigarettes in South Africa are under-declared local production. The fact that Amalgamated Tobacco Manufacturing Company has been charged for tax evasion by Sars is long overdue.' BUSINESS REPORT TAX Justice South Africa (TJSA) in a statement on Tuesday welcomed a High Court judgment confirming a preservation order against Amalgamated Tobacco Manufacturing and 19 other entities, who are accused of a sophisticated multi-million-rand tax evasion racket. . Image: Courtney Africa/Independent Newspapers TAX Justice South Africa (TJSA) in a statement on Tuesday welcomed a High Court judgment confirming a preservation order against Amalgamated Tobacco Manufacturing and 19 other entities, who are accused of a sophisticated multi-million-rand tax evasion racket. . Image: Courtney Africa/Independent Newspapers
eNCA
2 hours ago
- eNCA
Oil giant BP surprises with better than expected earnings
Oil giant BP, which recently pivoted away from green energy, posted Tuesday better-than-expected quarterly earnings and announced a fresh review of costs. The British group's return to profit in the second quarter contrasted with weaker results from energy rivals, as lower exceptional charges offset falling oil prices. Profit after tax came in at $1.63 billion in the April-June period, compared with a net loss of $129 million in the second quarter of 2024, BP said in an earnings statement. Stripping out exceptional items, underlying net profit was down nearly 15 percent. "This has been another strong quarter for BP operationally and strategically," chief executive Murray Auchincloss said in the earnings statement. BP on Monday said it made its biggest oil and gas discovery in 25 years off the coast of Brazil. In February, BP launched a major pivot back to its more profitable oil and gas business, shelving its once industry-leading targets on reducing carbon emissions and slashing clean energy investment. However, energy prices have come under pressure in recent months on concerns that US President Donald Trump's tariffs will hurt economic growth, while OPEC+ nations have produced more oil. BP managed to post a profit for the second quarter thanks to impairments which were lower than one year earlier, along with a revaluation of assets -- notably in relation to liquefied natural gas (LNG) -- and divestments. - Sector woes - By contrast, US rivals ExxonMobil and Chevron, along with French group TotalEnergies, posted heavy falls to their net profits in the second quarter. As did oil giant Saudi Aramco, which on Tuesday announced its 10th straight drop in quarterly profits as a slump in prices hit revenues. The average price for Brent North Sea crude, the international benchmark, stood at $67.9 per barrel in the second quarter, down from $85 one year earlier. British rival Shell still managed to post a slight increase to its profit after tax for the latest reporting period. As for BP, Auchincloss said the company was launching "a further cost review and, whilst we will not compromise on safety, we are doing this with a view to being best in class in our industry". Shares in BP gained 2.2 percent in London morning deals following its results and news of a fresh dividend and share buyback. "A slick turnaround plan pumped up BP's second-quarter results," noted Derren Nathan, head of equity research at Hargreaves Lansdown. "Despite lower oil and gas prices, it's managed to push underlying profits up by nearly $1 billion from the first quarter to $2.4 billion, well ahead of analyst forecasts." Nathan added that "shareholders will be glad to see this matched with financial discipline". BP already announced plans this year to cut cleaner energy investment by more than $5 billion annually and offload assets worth a total of $20 billion by 2027. It recently agreed to sell its onshore wind energy business in the United States, while Shell has also scaled back its climate objectives. BP last month named Albert Manifold as its new chairman, replacing Helge Lund, whose departure was announced amid the strategy reset. The group's net profit plunged 70 percent in its first quarter, hit by weaker oil prices. By Ben Perry
eNCA
4 hours ago
- eNCA
Wirtz unfazed by huge Liverpool price tag
Florian Wirtz says his huge price tag "doesn't matter" as he prepares for his first season in the Premier League after a switch to champions Liverpool from Bayer Leverkusen. The attacking midfielder arrived at Anfield for an initial £100 million ($132 million) that could rise to £116 million with add-ons, making his move a potential British record. However, speaking after impressing in a 3-2 friendly win over Athletic Bilbao on Monday, the 22-year-old brushed off the size of his transfer fee. "I don't think about it. I just want to play football and how much money the clubs pay between each other, it doesn't matter," he said. "Of course the big challenge is to win the title again and it is the most difficult thing so (I will) try and just create chances and also work against the ball. AFP | Darren Staples "I can also run a lot so (I will) bring this to the team and then with the ball I can make the team better and bring my teammates into better situations." Liverpool face FA Cup winners Crystal Palace in the season-opening Community Shield on Sunday and kick off their Premier League title defence at home to Bournemouth on August 15. Germany international Wirtz said he was relishing the challenge. "There are some differences to Germany but I think there is also something I can learn and make me better so I am really looking forward to it," he said. "It's more intense and more physical, every player is really strong, really fast. That is what everybody is telling me." - Big spenders - Liverpool have spent more than £250 million so far in the summer transfer window on a clutch of new players including Wirtz, Hugo Ekitike, Milos Kerkez, Jeremie Frimpong, who also came from Leverkusen, and Giorgi Mamardashvili. The club are understood to have made a bid of around £110 million plus potential add-ons for unsettled Newcastle striker Alexander Isak last week, which was rejected. Manager Arne Slot said after two friendlies against Athletic Bilbao at Anfield on Monday that there was "always room for improvement" despite the club's march to a record-equalling 20th league title last season. "We've added a few, in my opinion, extra weapons," said the Dutchman. "So, Florian has a lot of creativity in the final third. We've lost with Trent (Alexander-Arnold, who has signed for Real Madrid) a lot of creativity from the back. "Trent's crosses and picking out runners was so special -– I think Flo has this quality as well in a totally different position." Liverpool paid tribute to late forward Diogo Jota in their first matches at Anfield since the forward and his brother Andre Silva died in a car crash in Spain last month. Slot said in his programme notes that it had been a "tough time for everyone connected with the club, but especially for Diogo's family, his wife, his children and friends". "We cannot imagine the pain that they have been going through, and the club will continue to give them all the support they can going forward," he wrote.
