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Space42’s Thuraya 4 Satellite Successfully Launched Into Orbit

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Thuraya 4 will provide more secure capacity, faster speeds, and wider coverage across Africa, Europe, Central Asia and the Middle EastLaunching the business’s sixth geostationary satellite will be pivotal in Space42’s plans to introduce 15 new products

ABU DHABI, UAE and CAPE CANAVERAL, Fla. , Jan. 4, 2025 /PRNewswire/ — Space42 (ADX: SPACE42), the UAE-based AI-powered SpaceTech company with global reach, has successfully launched its Thuraya 4 (T4) telecommunications satellite into orbit. The launch represents a significant milestone in Space42’s journey as a provider of premium geospatial data, geospatial analytics AI platforms and services, non-terrestrial networks (NTN), and secure connectivity solutions.

The satellite was launched aboard SpaceX’s Falcon 9 rocket from Cape Canaveral Space Force Station, Florida, USA, at 20:26 Eastern Time. Following the deployment of Thuraya 4 into space, the satellite ignited its built-in electrical thrusters for Electrical Orbit Raising (EOR). This process will span several months until Thuraya 4 reaches its operational geostationary orbit at 44° East, approximately 36,000 kilometers above Earth.

The next-generation mobile telecommunications system, Thuraya 4, significantly expands Space42’s capabilities. As one of the largest MSS communication satellites produced, it complements the company’s plans to launch more than 15 new products to cater to the rapid growth in use cases across various sectors, including defense, government and enterprise. Space42’s sixth geostationary (GEO) satellite will provide more security, faster speeds and expanded coverage across Africa, Europe, Central Asia and the Middle East.

His Excellency Mansoor Al Mansoori, Chairman of Space42, said: “The successful launch of Space42’s next generation mobility satellite, Thuraya 4, is a clear testament to our commitment to push the innovation boundaries and actively participate in strengthening the UAE’s leadership in the SpaceTech sector globally. This key milestone in Space42’s journey not only propels its capabilities to reshape the future of connectivity but also and further advances the UAE’s ambitious National Space Strategy 2030.”

Karim Michel Sabbagh, Managing Director, Space42, said: “The launch of Thuraya 4 marks a significant milestone in Space42’s journey. It lays the foundation for our next-generation mobile satellite solutions capabilities, expanding our offering to our partners and customers and creating new avenues for innovation. The launch reinforces Space42’s leadership position in the global SatCom industry.”

Ali Al Hashemi, CEO of Yahsat Space Services, Space42, commented:
“Launching Thuraya 4 is a monumental step forward for Space42, continuing a legacy built upon disruptive technology, innovation and connectivity. We are proud of today’s accomplishment as we pursue one of our core strategic pillars to become a global non-terrestrial networks leader, venture into emerging business segments, including direct-to-device and Internet of Things, and diversify our offerings to customers across the globe.”

Alain Fauré, Head of Space Systems at Airbus said: “We open a new chapter in the story of Airbus and Space42: Thuraya 4 satellite successfully launched into space! After being transported from our cleanrooms in France to its launch site in Florida onboard our own Airbus Beluga, the latest telecommunications satellite is now ready to provide increased flexibility for our customer Space42’s communications satellite fleet. Leveraging the state-of-the-art all-electric Airbus Eurostar Neo platform, the Thuraya 4 launch represents a major milestone and reinforces our longstanding partnership with Space42, stretching back more than 10 years. Along with our partners at the European Space Agency, CNES and UKSA, the Eurostar Neo family of Airbus telecommunications satellites continues to deliver.”

Thuraya is the satellite mobility arm under Space42’s Yahsat Space Services. Powered by the cutting-edge Airbus Eurostar Neo platform, Thuraya 4 features a 12-meter antenna operating in L-Band and a payload equipped with advanced onboard processing. These capabilities enable unparalleled routing flexibility of up to 3,200 channels with dynamic power allocation across multiple spot beams.

The successful launch of Thuraya 4 underscores the UAE’s commitment to advancing its SpaceTech sector globally, aligning with the National Space Strategy 2030.

Legal Notice and Cautionary statement regarding forward-looking information
This announcement may include forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, words such as “expect”, “will”, “looking ahead” and any other words and terms of similar meaning. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and its investments, and speak only as of the date of this announcement. Forward-looking statements are based on assumptions of future events and information currently available to the Company which may not prove to be accurate, and the Company does not accept any responsibility for the accuracy or fairness thereof and expressly disclaims any obligation to update any such forward looking statement. No representation or warranty is made that any forward-looking statement will come to pass. You are therefore cautioned not to place any undue reliance on forward-looking statements. Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction.

Contact: Media@space42.ai

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SOURCE Space42

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New GFT research reveals 1 in 4 Brits keep cash on hand amid growing IT failure concerns

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33 minutes ago

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January 8, 2025

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Research reveals mounting worries amongst UK banking customers about IT outages at financial institutions

LONDON, Jan. 8, 2025 /PRNewswire/ — As digital banking becomes the norm, over a third (34%) of Brits are worried about the potential of IT failures at their banks, and 25% now keep cash on hand as a precaution against outages.

This trend reflects the growing uncertainty consumers feel about the reliability of digital financial services, as the availability of in-person banking continues to decline.

Over the past year, one in six (17%) people have been affected by IT failures within their banks, facing an average disruption time of six hours, with customers unable to access their funds or pay for essential goods and services.

This data comes from GFT’s latest Banking Disruption Index, a bi-annual assessment of consumer sentiment towards digital banking.

The research also uncovered growing concern about the security and resiliency of third-party technology providers supporting banks, with 38% of respondents worried about the potential of these organisations to cause an IT outage at a bank, highlighting a broader scepticism around the security and reliability of outsourced digital services.

Additionally, 42% of those surveyed said they were wary of cyber-attacks, fearing that an outage could lead to personal information theft. This underscores the growing expectation for banks to protect both consumer data and access to funds.

Richard Kalas, Client Solutions Director, Retail Banking at GFT, said: “These findings reveal a clear disconnect between the rapid digitalisation of banking services and consumer confidence around the security and resilience of these measures. While digital banking offers numerous benefits, it’s essential that banks continue to clearly demonstrate the various measures they are taking to ensure all critical customer services are resilient.”

The role of banks in enhancing security

As digital banking continues to grow, so do consumer concerns about security and reliability. In response, banks are under increased pressure to strengthen their resilience strategies, ensure operational stability, and better safeguard customers.

To meet these expectations, financial institutions must continue to invest in robust IT infrastructure and cybersecurity measures, and partner with trusted organisations to effectively prevent and swiftly recover from outages.

What’s more, under recent Payment Systems Regulator (PSR) guidelines effective from 7th October, banks must now refund fraud victims up to £85,000 within five days. By shifting a significant portion of responsibility back to banks, the regulation reinforces the importance of customer protection and proactive fraud prevention.

To download the full Banking Disruption Index report, please follow this link.

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Route Mobile Partners with PT MRT Jakarta to launch first-of-its-kind WhatsApp ticketing via vending machines and Email

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33 minutes ago

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January 8, 2025

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MUMBAI, India, Jan. 8, 2025 /PRNewswire/ — Route Mobile Limited (“Route Mobile”), a leading cloud communication platform service provider, has partnered with PT MRT Jakarta, Jakarta’s premier urban rail transit provider, to launch an innovative, first-of-its-kind WhatsApp based metro ticketing solution through vending machines. The solution streamlines the whole process, delivering essential ticket and travel information to commuters via WhatsApp for a smoother, more convenient journey.

With over 91,000 daily riders and 33.5 million annual ridership, Jakarta MRT plays a vital role in the city’s transportation infrastructure. Currently, it operates a North-South line with 13 stations, from Lebak Bulus to Bundaran HI, serving as a critical transit route that alleviates traffic congestion and improves urban mobility.

Through this innovative WhatsApp solution, passengers who purchase tickets from MRT Jakarta vending machines will receive the following three automated messages to simplify their journey:

Easy-to-follow instructions on using the QR codeA unique QR code to be scanned for entry at the origin stationA unique QR code to be scanned for exit at the destination

This multi-step WhatsApp engagement reduces friction, enhances user convenience, and significantly improves the commuter experience by enabling instant, reliable access to crucial travel details.

In addition to the core WhatsApp solution, Route Mobile is also supporting MRT Jakarta’s marketing initiatives by offering an email solution. This will allow MRT Jakarta to engage passengers through targeted email campaigns, sharing event updates, promotional content, special offers, and other relevant information that deepens customer engagement beyond their transit journey.

This strategic, one-year agreement will streamline the ticketing experience and introduce new marketing capabilities, enhancing customer engagement and convenience for MRT Jakarta commuters.

Gautam Badalia, Chief Executive Officer, Route Mobile, expressed his excitement about this pioneering collaboration, “We are honoured to partner with PT MRT Jakarta on this innovative project, which brings the convenience of WhatsApp communication to the MRT ticketing experience. With Route Mobile’s solution, customers will benefit from real-time information and seamless QR-based entry and exit, setting a new standard for public transit efficiency. We look forward to enhancing PT MRT Jakarta’s customer engagement through our WhatsApp and email solutions.”

About Route Mobile Limited (www.routemobile.com) (BSE: 543228) (NSE: ROUTE)

Established in 2004, Route Mobile Limited (“RML”) is a cloud communications platform service provider catering to enterprises, over-the-top (OTT) players, and mobile network operators (MNO). RML’s portfolio comprises solutions in messaging, voice, email, SMS filtering, analytics, and monetization. RML has a diverse enterprise client base across various industries, including social media companies, banks and financial institutions, e-commerce entities, and travel aggregators. RML is headquartered in Mumbai, India, with a global presence in Asia Pacific, the Middle East, Africa, Europe, and the Americas. Route Mobile is now a part of Proximus Group, a provider of digital services and communication solutions operating in Belgium and international markets.

Additional Resources

Follow Route Mobile on LinkedIn: https://in.linkedin.com/company/routemobilelimited
Become a fan of Route Mobile: https://www.facebook.com/Routemobilelimited

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BIT Mining Limited Announces Results of Annual General Meeting

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33 minutes ago

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January 8, 2025

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AKRON, Ohio, Jan. 8, 2025 /PRNewswire/ — BIT Mining Limited (NYSE: BTCM) (“BIT Mining” or the “Company”), a leading technology-driven cryptocurrency mining company, today announced the results of its annual general meeting of shareholders (the “AGM”) held on January 7, 2025.

At the AGM, the shareholders of the Company passed the resolution increasing the authorised share capital of the Company to US$440,000 divided into 8,399,935,000 Class A Ordinary Shares of a nominal or par value of US$0.00005 each, 65,000 Class A Preference Shares of a nominal or par value of US$0.00005 each, and 400,000,000 Class B Ordinary Shares of a nominal or par value of US$0.00005 each, by the creation of 6,800,000,000 Class A Ordinary Shares of a nominal or par value of US$0.00005 each.

About BIT Mining

BIT Mining (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company with operations in cryptocurrency mining, data center operation and mining machine manufacturing. The Company is strategically creating long-term value across the industry with its cryptocurrency ecosystem. Anchored by its cost-efficient data centers that strengthen its profitability with steady cash flow, the Company also conducts self-mining operations that enhance its marketplace resilience by leveraging self-developed and purchased mining machines to seamlessly adapt to dynamic cryptocurrency pricing. The Company also owns 7-nanometer BTC chips and has strong capabilities in the development of LTC/DOGE miners and ETC miners.

For more information:

BIT Mining Limited
ir@btcm.group
Ir.btcm.group  
www.btcm.group  

Piacente Financial Communications
Brandi Piacente
Tel: +1 (212) 481-2050
Email: BITMining@thepiacentegroup.com

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SOURCE BIT Mining Limited

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