Eutelsat shares surge on deal with French armed forces
There is a "real appetite" for sovereignty across the industry, CEO Jean-Francois Fallacher said at the Paris Air Show this week, according to an Eutelsat post on X.
France's Ministry of the Armed Forces said in a statement that the agreement was part of a programme to strengthen its space communications by supplementing its Syracuse military satellites which are in higher geostationary orbit with a constellation of satellites in low Earth orbit (LEO).
"While not entirely unexpected, the deal is a clear positive for Eutelsat, reaffirming the growing strategic relevance of LEO and the EU's push for sovereign satellite capabilities independent of foreign players like Starlink," said Alessandro Cuglietta, analyst at Kepler Cheuvreux.
The French ministry also said the deal underlines the importance and strategic nature of Europe's
IRIS² programme
, which is an EU-backed satellite constellation due to launch in 2030.
The deal will also shore up Eutelsat's finances as it works on raising funds for a second generation of its
LEO satellites
and to fulfil its commitments to the IRIS² project.
It needs more than three times the satellites than previously thought, requiring up to €2.2 billion in financing.
($1 = €0.8721)
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Indian Express
an hour ago
- Indian Express
Daily subject-wise quiz : International Relations MCQs on African Union, Khmer Kingdom and more (Week 121)
UPSC Essentials brings to you its initiative of subject-wise quizzes. These quizzes are designed to help you revise some of the most important topics from the static part of the syllabus. Attempt today's subject quiz on International Relations to check your progress. 🚨 Click Here to read the UPSC Essentials magazine for July 2025. Share your views and suggestions in the comment box or at With reference to the African Union (AU), consider the following statements: 1. The AU's secretariat, the African Union Commission, is based in Nairobi. 2. The official languages of the Union and all its institutions are only Arabic and French. 3. It was officially established in 2002 as the successor of the Organisation of African Unity. How many of the statements given above are correct? (a) Only one (b) Only two (c) All three (d) None Explanation — The African Union (AU) is an intergovernmental organisation of the 55 member states located on the continent of Africa. — It was officially established in 2002 as the successor of the Organisation of African Unity (OAU, 1963-1999). Hence, statement 3 is correct. — The African Union Commission, the organization's secretariat, is headquartered in Addis Ababa. The organisation has a combined GDP of $3 trillion and 1.4 billion people. Hence, statement 1 is not correct. — However, its primary goal was to assist in the liberation of the continent's colonial countries. To accomplish this, the OAU mobilised diplomatic support and gave logistical assistance to liberation movements throughout Africa. — The official languages of the Union and its institutions will be Arabic, English, French, Portuguese, Spanish, Kiswahili, and any other African language. Hence, statement 2 is not correct. Therefore, option (a) is the correct answer. (Other Source: With reference to the World Economic Outlook, consider the following statements: 1. It provides a comprehensive picture of the global economy as well as details of individual countries. 2. It is published by the World Bank once every two years. Which of the statements given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Explanation — The International Monetary Fund (IMF) released the latest update of its World Economic Outlook (WEO). The IMF has 191 member countries, and its overall goal is to strive for their 'sustainable growth and prosperity'. It does so by fostering international trade, economic growth, and policies that encourage countries to cooperate, especially when it comes to monetary policy. The IMF releases the WEO twice every year, in April and October, apart from updating it twice — in January and July. Hence, statement 2 is not correct. — The WEO is the IMF's benchmark publication as it provides a comprehensive picture of the global economy as well as details of individual countries. Hence, statement 1 is correct. — The broader message is captured by the title of the update — 'Global Economy: Tenuous Resilience amid Persistent Uncertainty'. There are two main takeaways for the state of the global economy. — First, the global economy has proven to be resilient, albeit tenuous, and second, the outlook is plagued by persistent uncertainty. Therefore, option (a) is the correct answer. Consider the following statements: 1. Until July 20, this country was the 58th largest economy in the world. A day later, it rose three spots to the 55th rank, overtaking Ukraine, Qatar, and Hungary in the process as it added more than $50 billion, or roughly 30 per cent of its GDP, in 2024. 2. This is not the first time this country has seen such a huge increase in its GDP due to the base year revision. More than a decade ago, change in the base year from 1990 to 2010 had helped propel this nation to the position of Africa's largest economy thanks to an even-larger 89 per cent increase in the GDP to $510 billion in 2014. The above mentioned statements refer to: (a) Sudan (b) Nigeria (c) Tanzania (d) South Africa Explanation — On July 21, Nigeria's National Bureau of Statistics (NBS) published the results of its GDP rebasing exercise, which saw the base year of the indicator being updated to 2019 from 2010, among other changes. Nigeria's GDP in 2024 is now estimated at $243 billion in nominal terms, up from $187 billion forecast by the International Monetary Fund (IMF). — Nigeria's base-year revision exercise included other more meaningful changes in the manner in which the African nation calculates the GDP. This included increasing the scope of its methodology to include previously undercounted sectors such as digital services, pension fund operations, and e-commerce activities, among others. — This is not the first time Nigeria has seen such a huge increase in its GDP due to the base year revision. More than a decade ago, change in the base year from 1990 to 2010 had helped propel Nigeria to the position of Africa's largest economy thanks to an even-larger 89 per cent increase in the GDP to $510 billion in 2014. Therefore, option (b) is the correct answer. With reference to the places in news and the region associated, consider the following statements: 1. Zaporizhzhia nuclear plant – Iran 2. Sochi – Russia 3. Oaxaca region – Brazil How many of the pairs given above are correctly matched? (a) Only one (b) Only two (c) All three (d) None Explanation — More than 120 firefighters were trying to extinguish a blaze at an oil depot in the Russian city of Sochi that was sparked by a Ukrainian drone attack, regional Governor Veniamin Kondratyev said. — In the Krasnodar region on the Black Sea where Sochi is located, a fuel tank with a capacity of 2,000 cubic metres (70,000 cubic feet) was on fire, Russia's RIA news agency reported, citing emergency officials. — The International Atomic Energy Agency (IAEA) said that its team at Ukraine's Zaporizhzhia Nuclear Power Plant (ZNPP) heard explosions and saw smoke coming from a nearby location. — A 5.7 magnitude earthquake struck the southern Mexican state of Oaxaca, the German Research Center for Geosciences (GFZ) said. Therefore, option (a) is the correct answer. Which of the following organisations is known as the world's 'Atoms for Peace and Development'? (a) International Energy Agency (b) International Renewable Energy Agency (c) World Energy Council (d) International Atomic Energy Agency Explanation — The International Atomic Energy Agency is the world's central intergovernmental forum for scientific and technical cooperation in the nuclear field. — It promotes the safe, secure, and peaceful use of nuclear science and technology, therefore contributing to world peace and security and the United Nations' Sustainable Development Goals. — The IAEA, often known as the 'Atoms for Peace and Development' organisation within the United Nations family, is the international centre for nuclear cooperation. Therefore, option (d) is the correct answer. (Source: The Khmer Kingdom, which reached its political peak in the 12th and 13th centuries, encompassed which of these countries or portions of present-day countries? 1. Cambodia 2. Thailand 3. Laos 4. Vietnam 5. Myanmar Select the correct answer using the codes given below: (a) 1, 2, 3, 4 only (b) 2, 3, 4 and 5 only (c) 1, 2 and 5 only (d) 1, 2, 3, 4 and 5 Explanation — One of the conflicts drawing global attention in 2025 is the dispute between the Southeast Asian neighbours — Thailand and Cambodia. At its core lies a border. Stretching across 508 miles, this boundary was drawn when France occupied Cambodia in the late eighteenth century. — Cambodia is situated in mainland Southeast Asia, with Thailand to the west and Vietnam to the east. It shares its northeastern border with Laos. The ethnic majority of Cambodia, the Khmers, reached their political peak in the twelfth and thirteenth centuries, when the Khmer kingdom of Angkor encompassed portions of what are now Thailand, Laos, Vietnam, and Myanmar. Since the thirteenth century, however, this stronghold steadily weakened. Therefore, option (d) is the correct answer. Recently, Chin State was in the news due to a faceoff between two anti-military forces. Which country is this referring to? (a) Cambodia (b) Philippines (c) Thailand (d) Myanmar Explanation — Around 4,000 new refugees from Myanmar have entered Mizoram over the past few days following a renewed outbreak of fighting in the neighbouring country's Chin State. — The Chin State in Myanmar has been witnessing a faceoff between two anti-military junta forces – the Chin National Defence Force (CNDF) and the Chinland Defence Force (CDF) Hualnogram – since July 2. As a result, thousands of residents have streamed into Mizoram's Champhai district. Therefore, option (d) is the correct answer. The 'Two-State Solution,' often seen in news, refers to: (a) Division of the Korean Peninsula into North Korea and South Korea as two sovereign nations. (b) Creation of two independent states for Israelis and Palestinians living side-by-side in peace and security. (c) Separation of Sudan and South Sudan into two independent republics following a UN-mediated referendum. (d) Division of Cyprus into Greek and Turkish parts under a UN-brokered peace deal. Explanation — The Two-State Solution refers specifically to the proposal that Israel and Palestine should exist as two independent, sovereign states, coexisting peacefully within mutually agreed and secure borders. — This solution is supported by the United Nations and most of the international community, including India, as reaffirmed at the UN high-level conference in July 2025. — India stated that it's time to move from paper solutions to practical implementation through diplomatic dialogue. Therefore, option (b) is the correct answer. Daily Subject-wise quiz — History, Culture, and Social Issues (Week 119) Daily subject-wise quiz — Polity and Governance (Week 121) Daily subject-wise quiz — Science and Technology (Week 121) Daily subject-wise quiz — Economy (Week 121) Daily subject-wise quiz — Environment and Geography (Week 121) Daily subject-wise quiz – International Relations (Week 120) Subscribe to our UPSC newsletter and stay updated with the news cues from the past week. Stay updated with the latest UPSC articles by joining our Telegram channel – IndianExpress UPSC Hub, and follow us on Instagram and X. Manas Srivastava is currently working as Senior Copy Editor with The Indian Express (digital) and leads a unique initiative of IE - UPSC Essentials. He majorly writes on UPSC, other competitive exams and education-related projects. In the past, Manas has represented India at the G-20 Youth Summit in Mexico. He is a former member of the Youth Council, GOI. A two-time topper/gold medallist in History (both in graduation and post-graduation) from Delhi University, he has mentored and taught UPSC aspirants for more than five years. His diverse role in The Indian Express consists of writing, editing, anchoring/ hosting, interviewing experts, and curating and simplifying news for the benefit of students. He hosts the YouTube talk show called 'Art and Culture with Devdutt Pattanaik' and a LIVE series on Instagram and YouTube called 'LIVE with Manas'.His talks on 'How to read a newspaper' focus on newspaper reading as an essential habit for students. His articles and videos aim at finding solutions to the general queries of students and hence he believes in being students' editor, preparing them not just for any exam but helping them to become informed citizens. This is where he makes his teaching profession meet journalism. He is also the editor of UPSC Essentials' monthly magazine for the aspirants. He is a recipient of the Dip Chand Memorial Award, the Lala Ram Mohan Prize and Prof. Papiya Ghosh Memorial Prize for academic excellence. He was also awarded the University's Post-Graduate Scholarship for pursuing M.A. in History where he chose to specialise in Ancient India due to his keen interest in Archaeology. He has also successfully completed a Certificate course on Women's Studies by the Women's Studies Development Centre, DU. As a part of N.S.S in the past, Manas has worked with national and international organisations and has shown keen interest and active participation in Social Service. He has led and been a part of projects involving areas such as gender sensitisation, persons with disability, helping slum dwellers, environment, adopting our heritage programme. He has also presented a case study on 'Psychological stress among students' at ICSQCC- Sri Lanka. As a compere for seminars and other events he likes to keep his orating hobby alive. His interests also lie in International Relations, Governance, Social issues, Essays and poetry. ... Read More
Mint
3 hours ago
- Mint
Wall Street Banks Lose Ground in Europe as Tariffs Spook Clients
(Bloomberg) -- As US President Donald Trump has ratcheted up his rhetoric against trading partners in Europe — corporates across the continent are taking notice. As a result, some companies have begun to diversify their banking relationships away from the giants of Wall Street, according to data compiled by Bloomberg. That's been a boon for Europe's leading banks, which have been actively vying to win the extra business. 'Some players are saying that it's better to go to European or French investment banks for advice on financing or mergers and acquisitions,' said Arnaud Petit, managing director of Edmond de Rothschild's corporate finance business. Deutsche Bank AG Chief Executive Officer Christian Sewing sees similar in potential clients' requests for proposals: 'It is happening every day with client wins and RFPs and new business that we put on.' So far this year, roughly half of the euro bond deals from non-US companies did not involve any of the five biggest US banks, according to data compiled by Bloomberg. That's up five percentage points from a year earlier. For sterling bonds the gap has widened even further — Wall Street banks were shut out of just 47% of deals throughout all of last year. So far this year, though, they've been excluded from 64% of them. The emergence of the ability of a few European banks 'to be able to offer competitive services and advice to clients' has created a desire among clients to switch, according to UBS Group AG Chief Executive Sergio Ermotti. 'We believe we are well placed to continue to benefit from that diversification.' Even before Trump's trade war kicked off in earnest, the biggest of the US banks warned that it was starting to see an impact. By April, JPMorgan Chase & Co. had already lost 'a couple' of bond deals tied to the tariff uncertainty, with companies opting for local banks instead, Chief Executive Officer Jamie Dimon said in an interview with Fox Business at the time. He warned that the tumult was 'causing cumulative damage including huge anger at the United States.' The latest example of a win for non-US banks came this week, when Zurich-based insurer Chubb Ltd. issued an offshore yuan-bond. It opted for Standard Chartered Plc to help take on the deal. The bank was told: 'We want to bank with the regional champions, rather than just with global banks in general,' Standard Chartered Chief Financial Officer Diego de Giorgi said. 'Because we think that you guys bring specific skills in a world that is fragmenting.' Chubb is not an exception. The effect is most pronounced in Asia, where economies are expected to be hard hit by the changing trade regimes and the re-routing of supply chains, said Ruchirangad Agarwal, head of corporate banking for Asia and the Middle East at the research firm Coalition Greenwich. 'The willingness of companies in Asia to change their transaction bank is currently at a high: a third of them plan to issue a new RFP within the next 12 months,' Agarwal said. Already, US lenders' market share in financing trade for Chinese companies has dropped in recent years - from 12% in 2017 to about 7% share now, he added. 'We expect to see heightened uncertainty and customer churn at US banks as large corporates take an active risk management stance on FX, interest rates, counterparty risk, geopolitical tensions and supply chain disruptions,' said Martin Smith, head of markets analysis at East & Partners. BNP Paribas SA, meanwhile, has gained more share than any other player in Asia, Smith said. 'There are clearly strategic opportunities in the tectonic shifts that the world has been seeing in recent months' Societe Generale SA CEO's Slawomir Krupa said of companies looking to shift toward European banking partners. 'The logic behind this form of risk diversification has become more apparent for companies.' --With assistance from Harry Wilson, Claudia Cohen and Noele Illien. More stories like this are available on
NDTV
4 hours ago
- NDTV
Financial Planning: 1 Crore May Be Not Enough For A Comfortable Life Post Retirement
People often ask how much savings is enough for a comfortable life after retirement in India. It has been a general assumption that Rs 1 crore is enough to make ends meet after retiring from the job. But because of inflation, the situation has changed. Rs 1 crore today will significantly lose its value over time. For instance, with a 6 per cent inflation rate, Rs 1 crore would be worth only Rs 55.84 lakh in 10 years and Rs 31.18 lakh in 20 years. To combat inflation, it's essential to invest in assets that yield returns higher than the inflation rate, such as stocks, real estate or bonds. Early planning and diversified investments are crucial to ensure financial security in the long run, NDTV Profit reported. Once it was, but now Rs 1 crore is not the amount to set as an ultimate goal, it's just a pit stop. According to the India Retirement Index Study (IRIS) by Max Life Insurance (IRIS 4.0), only 44% of respondents believe retirement planning should start before the age of 35, highlighting the need for greater awareness and planning. To build a corpus of Rs 1 crore or more, people consider a monthly SIP. For example, investing Rs 1,15,000 monthly for five years could help accumulate Rs 1 crore, assuming a certain rate of return. PPF investment will also help, as if someone invests Rs 1.5 lakh annually in a Public Provident Fund (PPF) for 25 years, it could yield over Rs 1 crore, given the current interest rate of 7.1%. Another crucial benefit of PPF is that it is a long-term debt investment instrument and comes under the Exempt-Exempt-Exempt (EEE) category, which means investments are tax-exempt. The interest earned and withdrawals would also be tax-free. PPF also offers a guaranteed tax-free return.
