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Red tape delays licences for satellite-based ISPs | The Express Tribune

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Red tape delays licences for satellite-based ISPs | The Express Tribune



ISLAMABAD:

Satellite-based internet service providers have expressed serious concern over the bureaucratic hurdles in the way of finalising a licensing regime, which can halt investments of millions of dollars.

Five satellite-based internet service providers (ISPs), including Starlink, have applied for licences to provide broadband services in Pakistan. But they complain that state-owned entities are delaying the process.

Sources in the Pakistan Space Activities Regulatory Board (PSARB) said that five companies, including Starlink and Shanghai Spacecom Satellite Technology Limited providing satellite-based internet, had expressed interest in entering into the Pakistani market.

Other companies are OneWeb (Eutelsat Group), Project Kuiper of the Amazon Group and Canadian satellite firm Telesat, which are willing to invest and have completed groundwork for launching services in Pakistan.

The registration process awaits the go-ahead from PSARB, which has not yet finalised the licensing regime.

A senior PSARB official said that the draft for the registration process for low-earth orbit (LEO) to beam down internet service had not been finalised so far, adding that consultation with stakeholders was underway. The official stressed that more time would be required to finalise regulations for registration.

On the other hand, officials of the Ministry of IT and Telecommunication revealed that the matter primarily pertained to the security clearance of companies and draft regulations had been circulated among the government departments concerned. A senior executive of one of the interested companies said that the registration process at PSARB was the first step while PTA was set to finalise its LEO-based internet policy in the coming weeks, but establishing the administrative and infrastructure network would take time.



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Interest rates expected to be held by Bank of England

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Interest rates expected to be held by Bank of England


Kevin PeacheyCost of living correspondent

Getty Images External shot of the Bank of England building taken from a low view with pillars either side in the foreground.Getty Images

Interest rates are widely expected to be held at 4% when policymakers at the Bank of England meet on Thursday.

The Bank rate, which heavily influences borrowing costs and savings rates, was cut from 4.25% to 4% by the Bank’s Monetary Policy Committee (MPC) at its last meeting in August.

It took the rate down to its lowest level for more than two years, but many analysts believe there will be no further cuts during the rest of this year.

The decision will be revealed at 12:00 BST and comes after official data on Wednesday showed prices were rising at nearly twice the target level, driven by the higher cost of food.

The rate of inflation remained at 3.8% in August, well above the 2% target. The Bank rate is policymakers’ main tool for controlling inflation.

In theory, making borrowing more expensive means people have less money to spend, which slows prices rises. However, increasing borrowing costs can also harm the economy.

Closely-watched vote

The decision to cut the Bank rate in August was taken after an unprecedented second vote by the nine members of the MPC.

Andrew Bailey, governor of the Bank, said the decision to cut interest rates was “finely balanced”.

Analysts expect Thursday’s vote to be more clear cut, with no change expected.

The relatively high rate of inflation means policymakers are unlikely to risk pushing that higher by cutting the Bank rate.

However, they do expect the inflation rate to start to drop soon, which leaves the possibility open of further interest rate cuts.

A line chart showing interest rates in the UK from Jan 2021 to August 2025. At the start of January 2021, rates were at 0.1%. From late-2021, they gradually climbed to a high of 5.25% in August 2023, before being cut to 5% in August 2024, 4.75% in November, 4.5% in February 2025, 4.25% in May, and 4.0% on 7 August.

The Bank rate has a big impact on the interest homeowners face when taking out a new fixed-rate mortgage.

Lenders use the Bank rate to set their own rates. As a result, the expectation of interest rate rises can push up mortgage rates while the expectation of interest rate cuts can pull mortgage rates down.

Mortgage rates have dropped very slightly since the MPC’s last meeting in August, but further moves are uncertain, according to Rachel Springall, from the financial information service Moneyfacts.

“Many will be waiting with bated breath for the Budget. This waiting game, alongside forecasts for inflation to remain above target, makes it less likely for the Bank of England to make further rate cuts this year,” she said.

She said that savers had seen a downward trend in returns during the time when the Bank has been lowering the Bank rate.

“The average easy access [savings] rate has fallen further below 3%, so savers must act now and switch their variable rate account if it no longer pays a decent return on their hard-earned cash,” she said.

Global picture

The government would be keen to see interest rates fall further, to boost growth in the UK economy.

The Resolution Foundation think-tank, which which focuses on those on low to middle incomes, said living standards needed to improve after a “lost” 20 years of growth.

But ministers will be aware of the inflationary risk that remains in the UK, especially as prices are rising slower in countries such as the US, Germany, and France.

Thursday’s MPC decision will come after the US central bank chose to cut interest rates on Wednesday to a range of 4% to 4.25% for the first time since December.

Last Thursday, the European Central Bank chose to hold its interest its at 2%.



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‘Little progress’ made opening up top jobs to state-educated people – charity

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‘Little progress’ made opening up top jobs to state-educated people – charity



The privately educated are “maintaining a vice-like grip” on the top jobs in Britain, a charity has said, and is calling for employers to be required to report on the economic backgrounds of their workforce.

The Sutton Trust has found the most influential people in the UK remain five times more likely to have gone to a private school than the general population in its report Elitist Britain, similar to what the social mobility charity found in 2019.

Of the FTSE 100 chief executives who were educated in the UK, only a third (34%) attended a state comprehensive school, which the Sutton Trust said has remained unchanged since 2019. In comparison, 37% of these chief executives attended private schools, and the rest went to grammar schools.

Sutton Trust chief executive Nick Harrison said: “It’s a disgrace that most of the top jobs in Britain are still dominated by those from privileged education backgrounds, representing a small fraction of the wider population. Little progress has been made in opening up positions of power, with those from private schools maintaining a vice-like grip on the most important roles.

“In 2025 you can still buy advantage, massively increasing your chance of getting into the most powerful roles in the country.

“This is grossly unfair, and a waste of talent on a huge scale. If we want a fairer country and a stronger economy, employers and policymakers must take responsibility for levelling the playing field, where privilege is no longer a passport to power.”

In the general UK population, around 7% attend private schools.

The Sutton Trust also said more than two thirds of FTSE 100 chairs were privately educated in 2025, in a 15 percentage point increase from 2019. Nearly half (45%) of chairs attended Oxbridge, and 41% went to both private school and Oxbridge.

Around a third of charity chief executives (34%) went to a private school, 62% of senior judges, 52% of the House of Lords, 50% of newspaper columnists, 45% of podcasters, 47% of political commentators, and 47% of permanent secretaries, the charity said. Among permanent secretaries, 66% are Oxbridge educated, up 10 percentage points since 2019.

This year, the Sutton Trust looked at the educational background of social media influencers and content creators for the first time, and found among this group, 18% had attended private school, and 68% went to a state comprehensive.

A poll by YouGov for the Sutton Trust of 1,492 business senior decision makers also found just 9% of employers said they ask whether employees were eligible for free school meals, and only 15% ask about the profession or class background of employees’ parents, similar levels to 2019.

The polling found there has been a slight increase in the proportion of companies saying they were using contextual recruitment, which considers applicants’ credentials in the context of their background. Up 2% on 2019, 17% of firms said they were using contextual recruitment practices.

The Sutton Trust is calling for the Government to require employers with more than 250 staff to report on the socio-economic background of their workforce, and encourage reporting of class pay gaps. The charity also said employers should look at educational achievements in the context of disadvantage.

Carl Cullinane, director of research and policy at the Sutton Trust, said: “This polling suggests that most employers aren’t building a talent pipeline of young people from less advantaged backgrounds.

“And while there have been efforts to make business more inclusive, work on social mobility is patchy, and too often, social class is not included in the diversity conversation. Just one in 10 companies run specific schemes to support employees in terms of social mobility.

“This means they’re potentially limiting their talent pool. Making the most of talent, wherever it comes from, means employers can move beyond a narrow cohort of candidates from the most advantaged backgrounds. This can be a win-win for employers, society and the economy.”



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US to invest £150bn in UK, promising thousands of jobs

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US to invest £150bn in UK, promising thousands of jobs


A record-breaking £150bn package of US investment into the UK has been announced during US President Donald Trump’s State Visit.

The UK government is calling this the largest commercial deal of its kind and expects it to create more than 7600 “high-quality jobs” across the country.

A large majority of the money will come from Blackstone, the world’s largest alternative asset manager, which has unveiled plans for a £90bn investment in the UK over the next decade.

Prime Minister Keir Starmer said the investments “are a testament to Britain’s economic strength and a bold signal that our country is open, ambitious, and ready to lead”.

“Jobs, growth and opportunity is what I promised for working people, and it’s exactly what this State Visit is delivering,” he added.

On Thursday, major UK and US investors will meet the Prime Minister and President Trump at Chequers to discuss how both countries can go further to deepen their economic ties and future collaborations.

Blackstone previously announced in June that it would invest £370bn in Europe over the next decade.

Earlier this week, Microsoft pledged to spend £22bn in the UK over the next four years, and Google pledged £5bn over the next two years to expand an existing data centre in Hertfordshire.

These investments will also help act as a powerful counterweight to the exodus of investment seen in the pharmaceutical sector.

However, the investments announced by Google and Microsoft are less than 4% of their annual spend, and the 7,600 jobs it is hoped to be created is a small number compared to the 160,000 payroll jobs lost since last year.

Blackstone’s large investment is in addition to the £10bn it previously announced for data centre development in the UK.

Real estate investment trust Prologis is also set to invest £3.9bn into the UK’s life sciences and advanced manufacturing.

Palantir will invest up to £1.5bn in UK defence innovation and plans to create up to 350 new jobs.

American tech company Amentum plans to create more than 3,000 jobs and expand its UK workforce by over 50%.

Boeing has said it will convert two 737 aircraft in Birmingham for the US Air Force, which would be the first USAF aircraft built in the UK for over 50 years, and could create 150 high-skilled jobs.

US Engineering firm, STAX, has also committed up to £38m to expand its UK operations.

The 7,600 total jobs promised are intended to be in all areas of the UK.

This is set to include 1,000 new jobs in Belfast and 6,000 more roles from Glasgow to Warrington, the Midlands and the North-East.

Business and trade secretary Peter Kyle said the deal reflects growing confidence in the UK’s industrial strategy.

“These record-breaking investments will create thousands of high-quality jobs across the UK,” he said.

“It’s a clear sign that our Plan for Growth is delivering for working people.”

The government said it wants to give “real opportunities for working people”, including apprenticeships in clean energy and careers in biotech and AI.

This comes ahead of the signing of the Tech Prosperity Deal on Thursday, which is a major new deal to accelerate the building of new nuclear power in both the US and the UK.



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