Latest news with #MinistryOfDefense
Yahoo
10 hours ago
- Business
- Yahoo
Finland Ministry of Defense selects ICEYE for Space-Based Intelligence and Surveillance Capabilities
ICEYE will provide SAR satellites to the Finnish Defense Forces. HELSINKI, June 27, 2025 /PRNewswire/ -- ICEYE, the European leader in new defense technology and the global leader in Synthetic Aperture Radar (SAR) satellite operations, and the Finnish Ministry of Defense have signed a Letter of Intent that enables the Finnish Defense Forces to acquire ICEYE SAR satellites. The cooperation aims to enhance the Defense Forces' intelligence and surveillance capabilities from space. The agreement outlines a preliminary delivery plan and timeline. It also encompasses the technical solutions and systems needed to establish an autonomous national capability for space-based surveillance. Data from these satellites will support real-time situational awareness for Finland's national leadership and relevant authorities. "We are proud to contribute to strengthening Finland's national security. Timely and reliable Earth observation data from space is a strategic asset that supports a wide range of decisions. With this capability, Finland will be well positioned to become a global leader in the field, and our collaboration with the Finnish Defense Forces is something our team deeply values. It also creates a vital environment for advancing capabilities that support the defense readiness of other NATO allies," says Pekka Laurila, Co-founder and CSO at ICEYE. "As space becomes increasingly critical, Finland is now taking a unique step forward in national defense. By acquiring our own satellites, we are strengthening our independent space-based intelligence and surveillance capabilities, and at the same time, we are supporting the domestic high-tech defense industry and creating new opportunities to deepen cooperation with allies and partners," says Minister of Defence Antti Häkkänen. This cooperation offers the Finnish defense administration a rapid path to developing intelligence and surveillance capabilities and it plays a significant role in the overall development of the Defense Forces' space-based capabilities. ICEYE owns and operates the world's largest SAR satellite constellation, providing unlimited global access and the highest revisit frequency on the market. ICEYE SAR satellites provide 25 cm ground resolution, enabling accurate object detection and situational awareness in all weather and light conditions. To date, ICEYE has launched 54 SAR satellites into orbit for ICEYE's and its customers' use. About ICEYE ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before. Owning the world's largest synthetic aperture radar (SAR) satellite constellation, ICEYE provides objective, near real-time insights, ensuring that customers have unmatched access to actionable data, day or night, even in challenging environmental conditions. As a trusted partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as defense and intelligence, insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance, enabling decision-making that contributes to community resilience and sustainable development. ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, the UAE, Greece, and the US. We have close to 900 employees, inspired by the shared vision of improving life on Earth by becoming the global source of truth in Earth Observation. Media contact: press@ Visit and follow ICEYE on LinkedIn and X for the latest updates and insights. View original content to download multimedia: SOURCE ICEYE Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arab News
13 hours ago
- Business
- Arab News
Pakistan approves 10 percent gas price hike for industry, power plants under IMF conditions
KARACHI: Pakistan on Friday approved a 10 percent increase in natural gas prices for industrial users and power plants starting next month, in line with reforms mandated by the International Monetary Fund (IMF) to ensure cost recovery and tariff rationalization, an official statement said. The decision was taken by the Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb. While prices for bulk consumers and gas-fired power plants will rise, household consumers will be shielded from the increase. 'To protect household consumers, gas prices will remain unchanged, with only fixed charges revised,' the Finance Division said in a statement released after the meeting. 'However, prices for bulk consumers, industrial units and power plants will be increased by an average of 10 percent.' The statement said the revised pricing structure, submitted by the Petroleum Division, complies with regulatory obligations under the OGRA Ordinance and meets structural benchmarks under Pakistan's ongoing loan program with the IMF. It also supports a shift from cross-subsidies to direct, targeted assistance for low-income consumers. DEFENSE GRANT The ECC also approved a Rs15.8 billion ($55.3 million) supplementary grant for the Ministry of Defense to cover a shortfall in salaries, allowances and pending dues. The funding includes disbursements under the prime minister's compensation package for martyrs of the recent Pakistan-India war fought last month. In a separate decision, the committee gave in-principle approval to launch a risk coverage scheme for small farmers and underserved regions by August 14. The program is expected to bring 750,000 new borrowers into the formal credit system and unlock a Rs300 billion ($1.05 billion) agricultural loan portfolio over three years (FY2026-28). The statement said the total budgetary support for the scheme, covering risk coverage and bank operating costs, is estimated at Rs37.5 billion ($131.25 million), to be disbursed between FY2027 and FY2031. The government has directed relevant ministries to incorporate additional safeguards before the official rollout.
Argaam
2 days ago
- Business
- Argaam
Lana wins waste transport containers project with Defense Ministry
Lana Medical Co. was awarded a project with the Ministry of Defense to provide non-medical waste transport containers for Prince Sultan Military Medical City. The project's value will not exceed 5% of the company's 2024 revenues, according to a statement to Tadawul today, June 26. The deal entails providing non-medical waste containers for a period of 36 months, starting from the date of site receipt. The project is pending the contract signing and the Ministry of Finance's approval, in accordance with the project documents, specifications, and bills of quantities. This project is deemed key in the company's plan to expand its provision of integrated waste management solutions in the healthcare sector. This is given its focus on improving the quality of environmental services, implementing global best practices in waste management, supporting national initiatives to reduce pollution and promote public health, achieving sustainability, and reducing the environmental impact resulting from transportation and disposal operations. The financial impact of the project is expected to be reflected in Lana's financials starting from Q3 2025, the company noted. The project also reflects Lana's ability to implement large-scale projects within healthcare facilities, while also adopting the highest technical and operational standards. This project award is an extension of Lana's strategy to strengthen its leadership in the Saudi environmental services sector. It should also contribute effectively to achieving the goals of Saudi Vision 2030 in the field of environmental sustainability, the statement added. According to data available on Argaam, Lana reported a revenue of SAR 84.09 million in 2024. Therefore, a 5% portion makes around SAR 4.2 million.
CTV News
20-06-2025
- Politics
- CTV News
Pro-Palestinian activists say they damaged planes on a U.K. air force base
LONDON — British police are searching for suspects after pro-Palestinian activists claimed to have broken into a Royal Air Force Base and damaged two planes with red paint, officials said Friday. The group Palestine Action said two members entered RAF Brize Norton on Wednesday and used electric scooters to approach the Voyager jets, which are used for air-to-air refueling. The duo sprayed red paint into the planes' turbine engines with repurposed fire extinguishers and caused further damage with crowbars, according to the group, which released video footage appearing to show an individual approach a jet and spray paint into the engine. The activists left the base without being detained, Palestine Action said. The group said in a statement that 'despite publicly condemning the Israeli government, Britain continues to send military cargo, fly spy planes over Gaza and refuel US/Israeli fighter jets.' It called the U.K. 'an active participant in the Gaza genocide and war crimes across the Middle East.' Britain's Ministry of Defense confirmed the incident, saying: 'We strongly condemn this vandalism of Royal Air Force assets.' Planes from Brize Norton, 70 miles (112 kilometers) northwest of London, regularly fly to RAF Akrotiri in Cyprus, Britain's main air base for operations in the Middle East. The U.K. has sent more Typhoon fighter jets and Voyager tankers to Cyprus since the Israel-Iran war started a week ago for what Prime Minister Keir Starmer called 'contingency support.' Iran has threatened to attack U.S., French and British bases in the region if those countries help Israel fend off Iranian strikes. Thames Valley Police said in a statement that it had 'received a report of people gaining access to RAF Brize Norton and causing criminal damage.' Officers were working with staff at the base and the Ministry of Defense Police to arrest the perpetrators, the department said. The Associated Press
LBCI
20-06-2025
- Politics
- LBCI
Pro-Palestinian activists say they damaged planes at UK military base
Pro-Palestinian activists in Britain said they had broken into a Royal Air Force base in central England on Friday and damaged two military aircraft. The campaign group Palestine Action said that its activists had entered the Brize Norton base in Oxfordshire and escaped undetected. "Flights depart daily from the base to RAF Akrotiri in Cyprus," the group said on X accompanied by video footage. "From Cyprus, British planes collect intelligence, refuel fighter jets and transport weapons to commit genocide in Gaza." There was no immediate response from Britain's Ministry of Defense. Reuters
