Skip to content
Search

Latest Stories

OneWeb suspends Baikonur launches

OneWeb suspends Baikonur launches

GLOBAL satellite communications company OneWeb has announced that its board had voted to suspend all launches from Russia's Baikonur Cosmodrome in Kazakhstan.

With this, OneWeb has joined a growing list of companies snapping or suspending ties with Russia.


Russia's space agency Roscosmos has sought guarantees from OneWeb and Europe's Arianespace that satellites it plans to launch this year will not be used for military purposes.

It also demanded the UK government give up its stake in OneWeb because of what it said was London's "hostile position on Russia".

OneWeb satellite OneWeb satellite

But UK Business Secretary Kwasi Kwarteng said the government was not selling its share and on Thursday (3) welcomed the company's suspension of launches.

"The UK Government supports OneWeb's decision," he wrote on Twitter.

"In light of Russia's illegal and unprovoked invasion of Ukraine, we are reviewing our participation in all further projects involving Russian collaboration."

Roscosmos had imposed a deadline for 6.30 pm on Friday (4) for OneWeb to provide "exhaustive legally binding guarantees".

Otherwise, it added, a planned launch of a Soyuz with 36 satellites on Saturday (5) would be cancelled.

OneWeb, backed by India’s Bharti Enterprises, has been working to complete the construction of a constellation of low earth orbit satellites to provide enhanced broadband and other services around the globe.

The company is aiming for its global commercial internet service to be operational by next year, supported by some 650 satellites.

A Soyuz rocket, operated by Arianespace, blasted 24 satellites into space for OneWeb on February 10 from the Guiana Space Centre in French Guiana.

Arianespace has worked with Russia for nearly two decades and is under contract to make 16 Soyuz launches between December 2020 and the end of this year.

On February 26, Russia suspended space launches from French Guiana and withdrew technical personnel in response to EU sanctions over Moscow's invasion of Ukraine.

OneWeb, which will offer broadband via a constellation of 650 satellites, was rescued from bankruptcy by Britain and Bharti Global in 2020. Eutelsat and SoftBank have also invested.

Elon Musk, the billionaire chief executive of SpaceX, has donated Starlink satellite internet terminals to Ukraine, where internet connections have been disrupted due to the Russian invasion.

Starlink, like OneWeb, uses small low earth orbit (LEO) satellites to provide internet access.

(AFP & Reuters)

More For You

Shein-Reuters

Shein had aimed to go public in London in the first half of this year, subject to regulatory approvals in the UK and China. (Photo: Reuters)

Shein cuts valuation to £40 billion for London listing

SHEIN is preparing to lower its valuation to around £40 billion for a potential initial public offering (IPO) in London, according to three Reuters sources familiar with the matter.

This is nearly 25 per cent lower than the company's 2023 fundraising valuation as it faces increasing challenges.

Keep ReadingShow less
Northern-Superchargers-Getty

Ben Stokes and Matthew Short of Northern Superchargers walk out to bat during The Hundred match between Manchester Originals and Northern Superchargers on August 11, 2024 in Manchester, England. (Photo: Getty Images)

Sunrisers Hyderabad to acquire Northern Superchargers in £100 million deal

INDIAN Premier League franchise Sunrisers Hyderabad is set to become the first full owners of an English Hundred team after agreeing to buy Yorkshire’s Northern Superchargers for a reported £100 million.

The Sun Group will be the third IPL-linked investor in the eight-team Hundred competition, following Reliance Industries, which owns Mumbai Indians, and RPSG, which runs Lucknow Super Giants.

Keep ReadingShow less
BT-Getty

A view of the British Telecom (BT) headquarters in central London. (Photo: Getty Images)

BT to remove diversity targets from manager bonuses

BT will remove diversity, equity, and inclusion (DEI) targets from its manager bonus scheme, replacing them with a measure of overall employee engagement.

The change, set to take effect in April, follows consultation with major investors and has received “strong support,” according to the company, The Telegraph reported.

Keep ReadingShow less
India's central bank cuts interest rates for first time since 2020

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.. (Photo credit: Reuters)

India's central bank cuts interest rates for first time since 2020

THE RESERVE BANK OF INDIA (RBI) reduced interest rates on Friday for the first time in nearly five years, citing concerns over economic growth despite inflation risks.

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.

Keep ReadingShow less
Sri Lanka seeks to negotiate with Adani over renewable energy plants

Gautam Adani

Sri Lanka seeks to negotiate with Adani over renewable energy plants

SRI LANKA’S government started talks with India’s Adani Group to lower the cost of power from two wind power projects the group will build in the island nation’s northern province, the cabinet spokesman said last Tuesday (28).

Sri Lanka has been reviewing the group’s local projects after US authorities in November accused billionaire founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. Adani has denied the allegations.

Keep ReadingShow less