Latest news with #Paris-headquartered
Time of India
13-07-2025
- Business
- Time of India
Did FATF just call Pakistan's bluff on terror financing?
Did FATF just call Pakistan's bluff on terror financing? Jayanta KalitaRajesh Sharma Jul 13, 2025, 15:34 IST IST Days after condemning the Pahalgam carnage, the Paris-based intergovernmental body has identified state-sponsored terrorism as a global threat. It also gave details on how groups like Jaish and Lashkar used sham NGOs and digital platforms to raise and move funds In a first, the Paris-headquartered Financial Action Task Force ( FATF ) has turned its attention to state-sponsored terrorism, identifying it as a 'longstanding TF [terrorist financing] threat to international peace and security as well as to the stability of regional financial and political systems'. The latest FATF report vindicates India's longstanding stance by indirectly referencing Pakistan 's role in supporting terrorism. In June, the global money laundering and terrorist financing watchdog condemned the April 22 Pahalgam carnage and said such attacks would not have been possible 'without money and the means to move funds between terrorist supporters'.
Canada Standard
10-07-2025
- Business
- Canada Standard
UK to invest EUR163.3 million in French satcom firm Eutelsat; Macron says
Paris [France], July 10 (ANI): The UK will invest Euro 163.3 million in Paris-headquartered satellite communications company Eutelsat, retaining a 10.89 per stake, a company statement said Thursday. This additional investment commitment from the UK (The Secretary of State for Science, Innovation and Technology of the United Kingdom) will increase the total amount to be raised to Euro 1.5 billion, underpinning the execution of Eutelsat's long-term strategic vision. The other investors in Eutelsat are France's Agence des Participations de l'Etat, Bharti Space Limited, CMA CGM, FSP, and others. 'Thanks to our British friends as they continue to follow us on the Eutelsat adventure! We're over the moon to keep going with you. Together we go further!' French President Emmanuel Macron said in a post on X. Macron is on a state visit to the UK. In June 2025, Macron, while speaking at the Paris Air Show in Le Bourget, had called for more investment from other countries as well such as India to team up with France. He had said 'This must be the solution for our major strategic partners in the Gulf, India, Canada and Brazil.' Peter Kyle, Secretary of State for Science, Innovation and Technology added satellites underpin industrial activity worth Euro 364 billion to the UK economy. 'But their critical role extends far beyond economic growth,' noted Kyle. Sunil Bharti Mittal, Co-Chairman, Eutelsat Group stated: 'I am delighted that the UK has joined Bharti and the French State in announcing further investment in Eutelsat Group, and I thank Prime Minister Starmer for his vision and leadership on this matter.' 'Today, governments require secure and reliable sovereign connectivity solutions, and Eutelsat is uniquely positioned to meet this need. Eutelsat's OneWeb was the first complete low-Earth orbit constellation, and the company is the first and only provider able to provide customers with access to both low-Earth orbit and geostationary orbit services. This new capital injection will allow Eutelsat to go further and faster in developing innovative new technologies and services under the leadership of its new CEO, Jean-Francois Fallacher.' 'I echo President Macron's words at the Paris Air Show last month, where he urged France's major strategic partners in the Gulf, India, Canada and Brazil to join the coalition backing Eutelsat Group as the global Space Champion,' Mittal added. Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023. It is headquartered in Paris and the Eutelsat Group employs more than 1,500 people across more than 50 countries. (ANI)
Canada News.Net
10-07-2025
- Business
- Canada News.Net
UK to invest EUR163.3 million in French satcom firm Eutelsat; Macron says "together we go further"
Paris [France], July 10 (ANI): The UK will invest Euro 163.3 million in Paris-headquartered satellite communications company Eutelsat, retaining a 10.89 per stake, a company statement said Thursday. This additional investment commitment from the UK (The Secretary of State for Science, Innovation and Technology of the United Kingdom) will increase the total amount to be raised to Euro 1.5 billion, underpinning the execution of Eutelsat's long-term strategic vision. The other investors in Eutelsat are France's Agence des Participations de l'Etat, Bharti Space Limited, CMA CGM, FSP, and others. 'Thanks to our British friends as they continue to follow us on the Eutelsat adventure! We're over the moon to keep going with you. Together we go further!' French President Emmanuel Macron said in a post on X. Macron is on a state visit to the UK. In June 2025, Macron, while speaking at the Paris Air Show in Le Bourget, had called for more investment from other countries as well such as India to team up with France. He had said 'This must be the solution for our major strategic partners in the Gulf, India, Canada and Brazil.' Peter Kyle, Secretary of State for Science, Innovation and Technology added satellites underpin industrial activity worth Euro 364 billion to the UK economy. 'But their critical role extends far beyond economic growth,' noted Kyle. Sunil Bharti Mittal, Co-Chairman, Eutelsat Group stated: 'I am delighted that the UK has joined Bharti and the French State in announcing further investment in Eutelsat Group, and I thank Prime Minister Starmer for his vision and leadership on this matter.' 'Today, governments require secure and reliable sovereign connectivity solutions, and Eutelsat is uniquely positioned to meet this need. Eutelsat's OneWeb was the first complete low-Earth orbit constellation, and the company is the first and only provider able to provide customers with access to both low-Earth orbit and geostationary orbit services. This new capital injection will allow Eutelsat to go further and faster in developing innovative new technologies and services under the leadership of its new CEO, Jean-Francois Fallacher.' 'I echo President Macron's words at the Paris Air Show last month, where he urged France's major strategic partners in the Gulf, India, Canada and Brazil to join the coalition backing Eutelsat Group as the global Space Champion,' Mittal added. Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023. It is headquartered in Paris and the Eutelsat Group employs more than 1,500 people across more than 50 countries. (ANI)
India Gazette
10-07-2025
- Business
- India Gazette
UK to invest EUR163.3 million in French satcom firm Eutelsat; Macron says
Paris [France], July 10 (ANI): The UK will invest Euro 163.3 million in Paris-headquartered satellite communications company Eutelsat, retaining a 10.89 per stake, a company statement said Thursday. This additional investment commitment from the UK (The Secretary of State for Science, Innovation and Technology of the United Kingdom) will increase the total amount to be raised to Euro 1.5 billion, underpinning the execution of Eutelsat's long-term strategic vision. The other investors in Eutelsat are France's Agence des Participations de l'Etat, Bharti Space Limited, CMA CGM, FSP, and others. 'Thanks to our British friends as they continue to follow us on the Eutelsat adventure! We're over the moon to keep going with you. Together we go further!' French President Emmanuel Macron said in a post on X. Macron is on a state visit to the UK. In June 2025, Macron, while speaking at the Paris Air Show in Le Bourget, had called for more investment from other countries as well such as India to team up with France. He had said 'This must be the solution for our major strategic partners in the Gulf, India, Canada and Brazil.' Peter Kyle, Secretary of State for Science, Innovation and Technology added satellites underpin industrial activity worth Euro 364 billion to the UK economy. 'But their critical role extends far beyond economic growth,' noted Kyle. Sunil Bharti Mittal, Co-Chairman, Eutelsat Group stated: 'I am delighted that the UK has joined Bharti and the French State in announcing further investment in Eutelsat Group, and I thank Prime Minister Starmer for his vision and leadership on this matter.' 'Today, governments require secure and reliable sovereign connectivity solutions, and Eutelsat is uniquely positioned to meet this need. Eutelsat's OneWeb was the first complete low-Earth orbit constellation, and the company is the first and only provider able to provide customers with access to both low-Earth orbit and geostationary orbit services. This new capital injection will allow Eutelsat to go further and faster in developing innovative new technologies and services under the leadership of its new CEO, Jean-Francois Fallacher.' 'I echo President Macron's words at the Paris Air Show last month, where he urged France's major strategic partners in the Gulf, India, Canada and Brazil to join the coalition backing Eutelsat Group as the global Space Champion,' Mittal added. Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023. It is headquartered in Paris and the Eutelsat Group employs more than 1,500 people across more than 50 countries. (ANI)
Mint
09-07-2025
- Business
- Mint
Pakistan-based terror groups use non-profit organisations to raise funds: Financial Action Task Force report
New Delhi: Pakistan-based terrorist groups Jaish-e-Mohammed (JeM) and Lashkar-e-Tayyiba (LeT) were reportedly using sham non-profit organisations to raise and move funds for terror financing, Financial Action Task Force (FATF) said in its latest report. JeM, designated a terrorist organisation by the UN, the US, the UK and India, was involved in the 2001 Parliament attack and the Pulwama attack in 2019, while LeT was responsible for the 2008 Mumbai attacks. Both the groups are associated with Al-Qaeda (AQ), which was responsible for the 9/11 attack. The global agency that develops policies to combat money laundering and terrorism financing said fundraising campaigns are conducted by such non-profit organisations through social media, direct messaging, offline and online campaigns, and crowdfunding. FATF's report titled 'Comprehensive Update on Terrorist Financing Risks' also said that these non-profit organisations or NPOs involved in terror financing with or without their knowledge can be outside the regional control of the terrorist group or be those founded in the areas under their control. Sham NPOs are set up or registered knowingly for the purpose of terror financing and used to raise, store, and move funds, commonly under false charitable pretexts, the report said. 'For example, in East Asia, JeM, and Lashkar-e-Tayyiba (LeT) both associated with AQ, were reported to abuse humanitarian assistance donation programs using sham NPOs to divert funds and finance operational activities,' the report said. 'Funds tend to flow through banks, other financial institutions, and unlicensed money value transfer services (MVTS). In the end, funds are often converted to cash and logistical assets and services,' said the FATF report. A person informed about the development said it is for the first time that the concept of state-sponsored terrorism has been introduced in an international report. State-sponsored terrorism means a state actively financing terrorist activities as part of its state policy. India had identified state sponsored terrorism from Pakistan as a source of terrorist financing risk and the finding of the FATF report reinforces India's position, the person said, requesting anonymity. The report highlighted that over the past decade, terrorists have demonstrated a persistent ability to exploit the international financial system to support their activities and carry out attacks. While the methods they employ can vary widely, the overall trend underscores their adaptability and determination. 'This continued abuse of the financial system poses a serious threat to global security and undermines international peace,' the report said. Earlier this month, FATF had condemned the 22 April terror attack in Jammu & Kashmir in which 26 tourists were killed. The Paris-headquartered agency's comments came in the wake of India's efforts to put global pressure on Pakistan, which it holds responsible for the terrorist attack in Pahalgam. The FATF report pointed out that storage of gold or jewellery is also reported on rarer occasions as a means of terror financing, adding that individuals inspired by terrorist outfits can use this storage method for small funds, either keeping assets themselves or having relatives hide them. FATF also highlighted the use of e-commerce platforms by terrorists in procuring materials for attacks. The report cited the February 2019 suicide bombing of a convoy of Indian security forces by Jaish-e-Mohammed, in which forty soldiers were killed. A key component of the improvised explosive device used in the attack— aluminium powder—was procured through e-commerce, the report said.
