Trump orders easing of commercial space flight rules, in boon to Musk's SpaceX
Trump's order, among other things, directs the US transportation secretary to eliminate or expedite environmental reviews for launch licences administered by the Federal Aviation Administration, the White House said.
The declaration also calls on the secretary to do away with 'outdated, redundant or overly restrictive rules for launch and re-entry vehicles'.
'Inefficient permitting processes discourage investment and innovation, limiting the ability of US companies to lead in global space markets,' the executive order states.
While Musk and Trump had a high-profile falling out months ago, the billionaire entrepreneur's SpaceX rocket and satellite venture potentially stands to be the single biggest immediate beneficiary of Trump's order on Wednesday.
SpaceX, though not mentioned by name in Trump's order, easily leads all US space industry entities, including NASA, in the sheer number of launches it routinely conducts for its own satellite network, the US space agency, the Pentagon and other enterprises.
Jeff Bezos' private rocket company Blue Origin and its space tourism business could also gain from a more relaxed regulatory regime.
Musk has repeatedly complained that environmental impact studies, post-flight mishap investigations and licensing reviews required by the FAA have needlessly slowed testing of SpaceX's Starship rocket, under development at the company's South Texas launch facility.
Starship is the centrepiece of Musk's long-term SpaceX business model, as well as a core component of NASA's ambitions for returning astronauts to the moon's surface, establishing a permanent human lunar presence and ultimately sending crewed missions to Mars.
Musk has viewed FAA oversight as a hindrance to his company's engineering culture, considered more risk-tolerant than many of the aerospace industry's more established players. SpaceX's flight-test strategy is known for pushing spacecraft prototypes to the point of failure, then fine-tuning improvements through frequent repetition.
This has appeared to run afoul at times with the FAA's mission of safeguarding the public and the environment as it exercises its regulatory jurisdiction over commercial space flight.
Earlier this year, the FAA grounded Starship test flights for nearly two months after back-to-back post-launch explosions rained debris over Caribbean islands and forced dozens of airliners to change course. The FAA ended up expanding the aircraft hazard zone along Starship's launch trajectories before licensing future flights.
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IOL News
9 minutes ago
- IOL News
India's bold economic play: Adapt or lose!
Director of the National Gandhi Libray from New Delhi,India Professor Annamalai Alagan addresses guests at the 132nd anniversary of Mohandas Gandhi forcibly ejected at the Pietermaritburg railway station. New Delhi has chosen a different path: swift recalibration, strategic diversification, and an unflinching focus on long-term resilience. Image: Rajesh Jantilal / File IN THE grand theatre of global economics, protectionism and Trump's Economic Nationalism, which have reshaped global trade, India has once again demonstrated why it remains one of the most adaptive players in the Global South and BRICS+ nations. The recent tariff shocks unleashed by the Trump administration, which have been boisterous, sudden, and strategically disruptive, have sent weaker economies into a spiral of retaliatory rhetoric or defensive stagnation. But India, true to form, responded with the quiet pragmatism of a nation that understands the oldest rule of economic survival: adapt or perish. As the Greek philosopher Heraclitus once declared: 'The only constant in life is change.' India, a cornerstone of the BRICS Plus bloc, seems to have internalised this wisdom better than most. While Washington's nationalist and protectionist trade policies have forced many nations into reactive posturing, New Delhi has chosen a different path: swift recalibration, strategic diversification, and an unflinching focus on long-term resilience. For Africa, a continent still wrestling with the ghosts of colonial era resource dependency and sluggish industrialisation, India's playbook offers not just inspiration, but an urgent blueprint. 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. 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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 ✕ When the US government under Donald Trump announced aggressive tariffs on Indian exports, the immediate reaction in some quarters was one of outrage. After all, India and the US have enjoyed a steadily deepening trade relationship, with bilateral exchanges exceeding $100 billion (about R18 trillion) in recent years. Yet, rather than succumbing to knee-jerk protectionism or hollow threats, India's policymakers went to work quietly, methodically, and with the precision of a chess grandmaster anticipating the next move. Reports from *Economic Times* reveal that New Delhi is already crafting a multipronged response to counter stiff US tariffs through enhanced export incentives, tax rebates for manufacturers, and a renewed push to deepen trade ties with Europe, Africa, and Southeast Asia while continuing trade negotiations with Washington. This is not the behaviour of an economy caught off guard; it is the hallmark of a leadership that sees crisis as an opportunity for growth and its national interest in guarding its every move. Compare this to the trajectory of many African economies, where trade policy often remains shackled to raw material exports and reactive rather than proactive adjustments. South Africa, once the continent's undisputed industrial powerhouse, has seen its manufacturing base erode over decades, leaving it overly reliant on mineral exports even as global demand patterns shift, while still beholden to Cold War slogans. The lesson? Economic resilience is not about the absence of shocks, but the capacity to diversification as an end and not a means to an end. India's agility in the face of US trade pressures is not happening in a vacuum. As a key member of BRICS+, New Delhi has not only diversified its trade partnerships but has also made strategic inroads into Africa's critical industries. Indian firms now dominate the continent's steel sector, control vast iron ore mining operations, and have positioned themselves as leading suppliers of lab-grown diamonds. This shift has sent shockwaves through traditional diamond producers like Botswana, which failed to anticipate the global consumer shift away from organic diamonds. While Botswana struggles to adjust to the reality that 'diamonds are not forever', India's lab-grown diamond exports are booming, proving once again that foresight and adaptability define economic survival. This is not just about circumventing tariffs; it's about rewriting the rules of engagement in a world where economic power is no longer monopolised by a handful of Western capitals. For Africa, the implications are profound. The continent remains the world's last great frontier of consumer market growth, yet too many of its economies remain trapped in the colonial era role of raw material suppliers. If India, a fellow developing economy, can reposition itself as a global manufacturing and services hub while navigating US protectionism, why can't Africa's industrial bases do the same? Africa's struggle with diversification is not for lack of opportunity. The African Continental Free Trade Area promises to be the world's largest single market, yet progress remains frustratingly slow. South Africa, despite its historical industrial advantages, has seen its manufacturing sector shrink from 20% of GDP in the 1990s to just 12% today. Instead of leveraging its early lead into sustained value-added production, the economy remains tethered to mining exports, a vulnerability starkly exposed whenever commodity prices fluctuate. India, meanwhile, has spent decades building economic shock absorbers. When the 1991 balance of payments crisis struck, it responded with sweeping reforms that unleashed its private sector. When the 2008 financial meltdown hit, it doubled down on domestic consumption. Now, faced with Trump's tariffs, it is accelerating its shift toward alternative markets and high-value exports. The difference is not just policy, but mindset. India operates with the understanding that global economic conditions are perpetually in flux, and survival belongs to the agile. Africa, by contrast, has often treated diversification as an academic ideal rather than an immediate imperative. The result? While India's GDP has multiplied fivefold since 2000, too many African economies remain hostage to the same commodity cycles that have dictated their fortunes for a century. The message for Africa is clear: The time for passive reliance on raw material exports is over. India's response to US tariffs proves that economic sovereignty is not about defiance, as we have seen with Advanced Economies such as Japan and Singapore, but about diversification, options and adaptability. If New Delhi can cultivate new trade alliances, incentivise value-added production, and navigate geopolitical headwinds without losing momentum, so too can Africa if it chooses to. As the world moves toward multipolar trade blocs and competing spheres of influence, India's example offers a masterclass in strategic adaptation. Trump's tariffs may have been designed to force concessions, but New Delhi's response has been something far more powerful: a demonstration of resilience that Africa would do well to emulate. In the end, Heraclitus was right: change is the only constant. But the real question is: In the Global South, who will change or perish? India, it seems, already has its answer. Africa must now find its own. * Phapano Phasha is the chairperson of The Centre for Alternative Political and Economic Thought. ** The views expressed here do not reflect those of the Sunday Independent, IOL, or Independent Media. Get the real story on the go: Follow the Sunday Independent on WhatsApp.
Daily Maverick
13 hours ago
- Daily Maverick
Investing in What Matters – And Avoiding What Doesn't
Recent global investor discussions have tended to focus on macro challenges, Trump tariffs, and the concentration of market value in a small number of technology companies. In addition, our Laurium Capital global equity team has spent a lot of time highlighting to investors the runway of growth benefiting electrification stocks as well as select pharmaceutical companies. In the case of the electrification investment thesis, the companies in our portfolio remain ongoing beneficiaries of positive demand growth as well as the need to renew and upgrade the existing electricity grid infrastructure as new generation sources are added and load management becomes more complex. In the pharmaceutical arena, we have been confronted with the opportunities presented by significant advances in oncology treatments as well as weight-loss drugs – the GLP-1 (or 'Ozempic') boom. These specific areas have provided for much of the content of our investor debates and discussions, and we have often expanded on this in our written market commentaries. However, there is another aspect of our work that we have hardly mentioned. This is what has been the 'missing' element from our global equity portfolio in recent periods – the areas of the global economy and stock market that we have actively avoided investing in, and why. In our case, the most noteworthy of these has been in consumer goods. In recent times, we have generally steered clear of companies that produce discretionary consumer goods and even those involved right through the fast-moving consumer goods (FMCG) value chain, save for some Coke bottlers and Heineken (we will touch on those later). This underweight is unusual for a fund that follows a 'quality' style-bias, as we do, where a company's strong financial health, pricing power, and enduring end-demand for the underlying product or service usually appeals to us as investors. These characteristics have often been closely associated with the large, successful FMCG and consumer blue-chips. So, what has kept us from investing a greater proportion of the portfolio in these consumer goods businesses, and why has this view been justified? The Concept of 'Over-Earning' Many consumer-focused businesses benefited from a unique, favourable confluence of events following the pandemic—boosted demand out of lockdown, limited competition, and enhanced pricing power. On this latter point, many companies used this strong inflation period to push prices up very meaningfully, in some cases well ahead of the level that customers are willing and/or able to pay. 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There is increasing demand for health-conscious, sustainable, and locally relevant brands, which challenges the dominance of traditional global FMCG giants. Digital-first and direct-to-consumer brands are growing in market share, and brand loyalty is no longer as dependable. Private label brands are of good quality, and easy to buy. As such, many of the previously 'defensive' brands in the consumer space may be less well-positioned for the next phase of consumer evolution. Hurdles to the Flow of Goods Ongoing global tensions have created several friction points in global trade, notably between producers in China and consumers in the US: Tariffs and protectionist policies, some originating during the first Trump administration as well as under Biden, remain in place and have expanded in scope. Strategic near-shoring and shifts in supply chains have increased costs and reduced efficiency. Immigration controls and labour shortages in certain markets have impacted production and distribution. Cultural fragmentation and regionalization are making global brand strategies more complex and costly. Taken together, these headwinds introduce structural challenges for global consumer businesses, especially those heavily reliant on scale and smooth cross-border logistics. Selective Exposure While we've generally remained underweight in consumer goods, we have made selective investments in companies like Coca-Cola bottlers and Heineken. These companies have demonstrated resilient demand, strong local execution models, and better ability to adapt to regional nuances and price ladders. Their exposure to emerging markets and beverages (a relatively defensive consumption category) makes them more attractive in the current environment and have helped the fund to deliver strong overall performance during a challenging period. DM About the Fund The Laurium Global Active Equity Fund is an actively managed, concentrated portfolio of global equities that aims to outperform the MSCI All Country World Index (ACWI). The Fund is managed by Rob Oellermann, who brings extensive experience in global markets, and is supported by Laurium's broader Investment, Trading, and Quants teams. The team follows a disciplined, quality-oriented investment approach, focused on long-term value creation while remaining highly attuned to macroeconomic shifts, sector dynamics, and structural changes shaping the global landscape. The Laurium Global Active Equity Fund was launched in August 2021 and has delivered excellent performance since inception. It is up 20.3% in USD for the 12 months ended 31 July 2025, versus the MSCI All Country World Index return of 15.9%. It is available for USD and ZAR investments either directly or via select platforms. For more information, visit Disclaimer: Laurium Capital (Pty) Ltd is an authorised financial services provider (FSP 34142). Collective Investment Schemes in Securities (CIS) should be considered as medium to long-term investments. The value may go up as well as down and past performance is not necessarily a guide to future performance. CISs are traded at the ruling price and can engage in scrip lending and borrowing. A schedule of fees, charges and maximum commissions is available on request from the Manager. A CIS may be closed to new investors in order for it to be managed more efficiently in accordance with its mandate. There is no guarantee in respect of capital or returns in a portfolio. Performance has been calculated using net NAV to NAV numbers with income reinvested. The performance for each period shown reflects the return for investors who have been fully invested for that period. Individual investor performance may differ as a result of initial fees, the actual investment date, the date of reinvestments and dividend withholding tax. Full performance calculations are available from the manager on request. Annualised performance shows longer term performance rescaled to a 1-year period. Annualised performance is the average return per year over the period. Actual annual figures are available to the investor on request. Highest and lowest is returns for any 1 year over the period since inception have been shown. NAV is the net asset value represents the assets of a Fund less its liabilities. Prescient Management Company (RF) (Pty) Ltd is registered and approved under the Collective Investment Schemes Control Act (No.45 of 2002). For any additional information such as fund prices, fees, brochures, minimum disclosure documents and application forms please go to
The Citizen
14 hours ago
- The Citizen
Trump to meet Putin in high-stakes Alaska summit
In their first meeting since 2019, Trump and Putin hold high-risk talks in Alaska with Ukraine's fate hanging in the balance. US President Donald Trump and Russian counterpart Vladimir Putin meet Friday in Alaska in a high-stakes, high-risk summit that could prove decisive for the future of Ukraine. Putin will step onto Western soil for the first time since he ordered the invasion of Ukraine in February 2022, a war that has killed tens of thousands of people and on which Russia has not relented, making rapid gains just before the summit. Trump extended the invitation at the Russian leader's suggestion, but the US president has since been defensive and warned that the meeting could be over within minutes if Putin does not compromise. Every word and gesture will be closely watched by European leaders and Ukrainian President Volodymyr Zelensky, who was not included and has publicly refused pressure from Trump to surrender territory seized by Russia. Trump has called the summit a 'feel-out meeting' to test Putin, whom he last saw in 2019. 'If it's a bad meeting, it'll end very quickly, and if it's a good meeting, we're going to end up getting peace in the pretty near future,' Trump said Thursday. ALSO READ: Ramaphosa speaks to Putin on Ukraine crisis, bilateral issues He gave the summit a one-in-four chance of failure. Russian Foreign Minister Sergei Lavrov responded to a question from Russian state TV by saying that Moscow would not make guesses on the outcome of the meeting. 'We never make any predictions ahead of time,' Lavrov said after he reached Alaska, wearing what appeared to be a shirt with 'USSR' written across it in Cyrillic script. '… our position is clear and unambiguous. We will present it,' he said. Trump has promised to consult with European leaders and Zelensky, saying that any final agreement would come in a three-way meeting with Putin and the Ukrainian president to 'divvy up' territory. Trump's latest shift Trump has boasted of his relationship with Putin, blamed predecessor Joe Biden for the war and vowed before his return to the White House in January to bring peace within 24 hours. ALSO READ: Ukraine is becoming the wedge driving US and Europe apart But despite repeated calls to Putin, and a stunning February 28 White House meeting in which Trump publicly berated Zelensky, the Russian leader has shown no signs of compromise. Trump has acknowledged his frustration with Putin and warned of 'very severe consequences' if he does not accept a ceasefire — but also agreed to see him in Alaska. The talks are set to begin at 11:30 am (1900 GMT) Friday at the Elmendorf Air Force Base, the largest US military installation in Alaska and a Cold War base for surveillance of the former Soviet Union. Adding to the historical significance, the United States bought Alaska in 1867 from Russia — a deal Moscow has cited to show the legitimacy of land swaps. The Kremlin said it expected Putin and Trump to meet alone with interpreters before a working lunch with aides. Neither leader is expected to step off the base into Anchorage, Alaska's largest city, where protesters have put up signs of solidarity with Ukraine. ALSO READ: Ukraine war 'existential,' Kremlin says, launching revenge strikes Exiled Russian opposition figure Yulia Navalnaya — whose husband Alexei Navalny died in prison last year — urged the two leaders to strike a deal to 'release Russian political activists and journalists, Ukrainian civilians, (and) those who were imprisoned for anti-war statements and posts on social media.' A 'personal victory' for Putin? The summit marks a sharp shift from the approach of Western European leaders and Biden, who vowed no discussion with Russia on Ukraine's future unless Ukraine was also at the table. Putin faces an arrest warrant from the International Criminal Court, leading him to curtail travel sharply since the war began. However, the United States is not party to the Hague tribunal and Trump's Treasury Department temporarily eased sanctions on top Russian officials to allow them to travel and use bank cards in Alaska. Zelensky said on Tuesday that the Alaska summit was a 'personal victory' for Putin. With the trip, Putin 'is coming out of isolation' and he has 'somehow postponed sanctions,' which Trump had vowed to impose on Russia without progress. ALSO READ: Russia signals severe retaliation after Ukraine's strikes Secretary of State Marco Rubio has also called for security guarantees for Ukraine — an idea downplayed by Trump at the start of his latest term. Daniel Fried, a former US diplomat now at the Atlantic Council, said Trump had the means to pressure Putin but that the Russian could distract him by seeming to offer something new. Putin, Fried said, 'is a master of the new shiny object which turns out to be meaningless.' – By: © Agence France-Presse
