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Bangladesh’s satellite starts service • Starlink autopilot sparks concern • SAS Global secures loan

22 May 2019, 18:00 UTC
Bangladesh’s satellite starts service • Starlink autopilot sparks concern • SAS Global secures loan
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Bangladesh has started commercial operations with a satellite launched last year. Bangabandhu-1, a 3,500-kilogram communications satellite from Thales Alenia Space, started broadcasting private television channels over the weekend. Bangladesh’s state-owned bank, Sonali Bank, also signed a memorandum of understanding for communications services using the satellite. Bangabandhu-1, run by the Bangladesh Communication Satellite Company, is Bangladesh’s first communications satellite. Telecom minister Mustafa Jabbar said work is underway on a second satellite, called Bangabandhu-2. [The Daily Star]
Sky and Space Global secured a $1.1 million convertible loan from Telefox, an Israeli financial provider. The cubesat constellation company said it will use the funds for working capital and to ensure more time in finalizing discussions regarding another “funding package.” Of the $1.1 million, $983,000 is available as the principal amount; the remainder is the initial interest payment and tax on that interest. As a convertible loan, SAS Global said Telefox can turn the loan amount into fully paid ordinary shares before SAS Global repays the outstanding loan amount so long as it gives the company written notice. SAS Global said in April that it ...

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