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BRITISH prime minister’s trade envoy to Uganda Lord Dolar Popat led a successful trade mission to the country last week to boost bilateral relations with the region, a statement said.
Following the visit, a record £2.5 billion coverage was made available by UK export finance to help industrialise Uganda, the statement added.
Lord Popat met Uganda president Yoweri Museveni during the visit to discuss bilateral interests in health, investment, energy, transport and agriculture between Uganda and the United Kingdom.
Lord Popat said: “I recognise the immense potential of Uganda, but now is the time to turn that potential into tangible commercial outcomes. The aim of my visit was to turn opportunities into deals, but I need the support of the government of Uganda, business, and most importantly, the people of Uganda if we are to strengthen trade relations to grow our mutual prosperity”
Uganda celebrates the 60th year of independence in 2022 and the 50th anniversary of the expulsion of Ugandan Asians, of which Lord Popat is one, according to the statement.
President Museveni said that Uganda and the UK should be taking advantage of their shared values and history to further their business and trading links.
“The commonwealth is the only international organization where we don’t speak through translators. So, your coming back is a good thing. We should even work more," he said.
Last year, British company McDermott signed a £1.5bn deal to construct an oil pipeline across the country.
During the visit, Lord Popat discussed the Africa Free Trade Agreement. It is estimated the agreement will be able to lift an additional 30 million people out of extreme poverty by 2035 and increase exports by 8 per cent.
Lord Popat speaks during the meeting
UK Government has committed £35m to support negotiations and implementation of the deal.
The delayed introduction of the new Uganda Airlines service between Heathrow and Entebbe was also discussed during the meeting. Lord Popat first spearheaded it in 2018, after he helped negotiate the deal with the Ugandan government and Airbus to purchase two new aircraft which had Rolls Royce engines made in the UK.
However, the service has still not commenced with the new Uganda Airlines airbuses sitting on the tarmac in Entebbe. Lord Popat met with the minister of works and Transport to discuss progress and offer UK support to start the service.
Ugandan president promised to push both Uganda Airlines and the Civil Aviation Authority (CAA) to work together to ensure all legal requirements were met.
British high commissioner to Uganda, HE Kate Airey emphasised the need to have direct flights to the UK to promote tourism and links with the UK during the discussions.
“The UK does not believe in short term gain, instead we want to ensure that any investment made in Uganda will have long term sustainable outcomes that will deliver for generations to come. The UK is partnering with Uganda using our unique prosperity offer to support Uganda to catalyse economic growth and boost UK and Uganda’s mutual prosperity," the high commissioner said.
Lord Popat discussion with British envoy
Uganda’s flagship Namanve Industrial Park project, constructed by the British Lagan Group, a deal worth £200m was also brought up at the meeting. The project is almost complete, the statement further said.
Other construction projects included the Kabaale International Airport in Hoima, which represented the largest ever UK Export Finance (UKEF) loan (£270 million) to an African government to help finance the construction of a new international airport.
The campaign for recruiting Ugandan nurses, a collaboration to invest in the Hoima Hospital to serve the development in the area around the new airport, as well as setting up a Moorfield Park Hospital in the region were also discussed.
Lord Popat met with Francis Mwebesa, minister of trade, industry and cooperatives, Ruth Nankabirwa Ssentamu, minister of energy and mineral development, Robert Mukiza, DG Uganda investment authorities, Dr Diana Atwine of the ministry of health and Equity Bank CEO Dr James Mwangi, to explore opportunities.
MICROSOFT CEO Satya Nadella on Wednesday (17) said the American tech giant is “doubling down” on its investments in Britain as US president Donald Trump began his state visit with the launch of a US-UK Tech Prosperity Deal.
The agreement focuses on advancing fast-growing technologies such as artificial intelligence (AI), quantum computing, and nuclear innovation.
Trump spent the night at the US ambassador’s residence, Winfield House in central London, before receiving a royal welcome at Windsor Castle. He also spoke by phone with prime minister Keir Starmer ahead of their formal talks on Thursday (18).
The visit opened with a series of investment pledges described as a “generational step change”, committing joint resources and expertise into emerging technologies across both nations.
“We’re committed to creating new opportunity for people and businesses on both sides of the Atlantic, and to ensuring America remains a trusted and reliable tech partner for the UK,” Nadella, the Indian American Microsoft chief, said in a statement.
“That is why we are doubling down on our investment in the UK, investing more than $30 billion over four years, including building the country’s largest supercomputer,” he added.
Alongside Microsoft, NVIDIA, Google, OpenAI, and CoreWeave are among the US technology companies pledging a combined £31bn to strengthen the UK’s AI infrastructure, including data centres and computer chips.
Starmer welcomed the deal, saying: “This Tech Prosperity Deal marks a generational step change in our relationship with the US, shaping the futures of millions of people on both sides of the Atlantic, and delivering growth, security and opportunity up and down the country.
“By teaming up with world-class companies from both the UK and US, we’re laying the foundations for a future where together we are world leaders in the technology of tomorrow, creating highly skilled jobs, putting more money in people’s pockets and ensuring this partnership benefits every corner of the UK.”
The deal will support new AI models for breakthroughs in medicine, including cancer and rare disease treatment, as well as shared priorities such as fusion energy.
UK technology secretary Liz Kendall described the pact as “a vote of confidence in Britain’s booming AI sector – building on British success stories such as Arm, Wayve and Google DeepMind – that will boost growth and deliver tens of thousands of skilled jobs.”
As part of the agreement, a new AI Growth Zone will host early deployment of OpenAI’s Stargate UK project at Cobalt Park.
Sam Altman, CEO of OpenAI, said: “The UK has been a longstanding pioneer of AI, and is now home to world-class researchers, millions of ChatGPT users, and a government that quickly recognised the potential of this technology. Stargate UK builds on this foundation to help accelerate scientific breakthroughs, improve productivity, and drive economic growth.”
The Tech Prosperity Deal set the stage for Trump’s state welcome at Windsor Castle, featuring a gilded carriage procession, guard of honour, and a State Banquet hosted by King Charles.
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FILE PHOTO: A member of staff works on the production line at Jaguar Land Rover’s factory in Solihull, Britain. REUTERS/Phil Noble
BRITAIN's largest carmaker, Jaguar Land Rover, said a pause in production due to a cyber attack would now stretch to September 24, extending the stoppage at its plants to more than three weeks.
The luxury carmaker, owned by India's Tata Motors, said it shut down its systems in early September to contain the hack that has severely disrupted its retail and manufacturing operations.
Its three factories in Britain, which usually produce about 1,000 cars per day, will now not restart until September 24, the company said on Tuesday (16). It has told many of its 33,000 staff to stay at home.
"We have taken this decision as our forensic investigation of the cyber incident continues, and as we consider the different stages of the controlled restart of our global operations, which will take time," JLR said in a statement on its website.
There is concern about the financial impact of the stoppage on JLR's British supply chain, which includes many smaller companies and supports 104,000 jobs across the country. The Unite trade union has warned of job losses and said government support would be needed given the lengthy stoppage.
Chris McDonald, minister in the Department of Business and Trade, told Reuters he had met the company on Tuesday to "discuss their plans to resolve this issue and get production started again".
"Our cyber experts are supporting JLR to help them resolve this issue as quickly as possible," he added.
The Telegraph reported on Monday (15) that the production shutdown could last until November, although JLR said this was not its position.
JLR has said the incident has affected some data, although it remains unclear whether it involved customers, suppliers or internal systems.
The breach was the latest in a string of cyber and ransomware attacks targeting companies around the world. In Britain, household names including Marks & Spencer and the Co-op have fallen victim to increasingly sophisticated breaches.
The disruption comes as JLR faces broader challenges, including weaker demand in China and Europe, and delays to the launch of its electric vehicle models.
In July, JLR reported an 11 per cent drop in quarterly sales, partly due to a temporary pause in US shipments after tariffs were imposed. Although exports resumed in May, the company cut its profit margin target for fiscal 2026 to 5 per cent to 7 per cent, down from 10 per cent, citing ongoing trade uncertainty.
(Reuters)
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Donald Trump and Narendra Modi shake hands as they attend a joint press conference at the White House on February 13, 2025.
INDIA and the United States will hold trade discussions in New Delhi on Tuesday, officials and Indian media reports said, as the two countries look to resolve a tariff dispute.
India currently faces high US tariffs on most of its exports and has not yet been able to reach a trade deal that would ease the pressure.
Trump has sought to increase pressure on Moscow over the war in Ukraine. The move has added to tensions between Washington and New Delhi.
Both governments, however, have said they remain committed to talks.
Commerce ministry official Rajesh Agarwal said on Monday that officials would meet in person on Tuesday for discussions, The Indian Express reported.
According to broadcaster NDTV, Brendan Lynch, assistant trade representative for South and Central Asia, will be part of the US delegation. The report said the discussions would be a “precursor” to a later full round of negotiations.
The talks come a week after Trump said discussions would continue between the two sides to address trade barriers.
“I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!,” Trump posted on Truth Social last week, without providing details.
Indian prime minister Narendra Modi responded by calling India and the United States “close friends and natural partners” and said teams from both sides were working to conclude discussions “at the earliest”.
(With inputs from agencies)
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Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)
INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.
He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.
“Discussions have been going on in a positive atmosphere with seriousness since March. It is progressing, and both the countries are satisfied with the progress,” Goyal told reporters. On Wednesday, he had also said that India is in “active dialogue” with the United States.
Trump this week said there would be “no difficulty” for the two countries to reach a successful conclusion and that he looked forward to speaking with his “very good friend” Modi in the coming weeks. In a post on Truth Social, he wrote he was “pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two Nations.”
Modi responded on X, welcoming Trump’s statement and expressing confidence that the negotiations would help unlock the potential of the partnership. He said India and the US are close friends and natural partners and are working to conclude the discussions at the earliest.
The two countries have completed five rounds of negotiations since March. The sixth round, scheduled to take place in India last month, was deferred after Washington imposed an additional 25 per cent tariff on Indian goods over purchases of Russian crude oil.
The aim of the pact is to more than double bilateral trade in goods and services to USD 500 billion by 2030 from the current USD 191 bn. Trade ties have been strained due to tariffs, with the US imposing a 50 per cent import duty on Indian goods from August 27. The move has hit exports from labour-intensive sectors such as shrimp, textiles, leather and footwear. India has described the tariffs as unfair, unjustified and unreasonable.
Talks have also been delayed over US demands for greater access in sensitive sectors such as agriculture and dairy. India has said repeatedly that it will not compromise the interests of small and marginal farmers and cattle rearers.
The US is India’s largest trading partner. In 2024-25, bilateral trade in goods was USD 131.8 bn, with India’s exports at USD 86.5 bn and imports at USD 45.3 bn. The US is also the third-largest investor in India, with foreign direct investment of USD 76.26 bn between April 2000 and June 2025, accounting for 10 per cent of India’s total FDI inflows.
On protests in Nepal, Goyal said the Indian government is monitoring the situation and working to bring back Indian citizens stranded there. He added that the Indian mission in Nepal is ready to provide support and expressed hope for normalcy to return soon.
(With inputs from agencies)
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At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)
INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.
At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.
Bhatt was born in 1984 in Poquoson, Virginia, to immigrant parents from Gujarat, India. His father, an aerospace engineer, worked at NASA. He grew up in a household where English was a second language and money was limited. He later attended Stanford University, where he studied physics and earned a master’s degree in mathematics.
In 2013, Bhatt co-founded Robinhood with Vlad Tenev, a fellow Stanford graduate. The platform introduced commission-free stock trading to retail investors in the United States and later expanded into retirement accounts and high-yield savings products. The company gained widespread attention during the Covid-19 pandemic, when trading activity surged around so-called meme stocks.
Robinhood went public in 2021 at the height of the retail investing boom. Bhatt served as co-CEO with Tenev until 2020, when he moved into the role of chief creative officer. In 2024, he stepped down from his executive position but continues to serve on Robinhood’s board of directors while retaining his 6 per cent stake.
Robinhood’s stock has seen significant gains over the past year, rising by about 400 per cent. The increase has been linked to a boost in cryptocurrency-related sales, new products such as individual retirement accounts and high-yield savings, and a strong performance in 2024, when the company reported USD 3 billion (£2.2 billion) in revenue.
Bhatt’s recognition in the Forbes 400 list underscores the continuing influence of technology entrepreneurs in the American financial sector. His career reflects the trajectory of several Indian-origin leaders in the United States, who have made a mark in technology and finance in recent years.
Forbes’ annual ranking of the 400 wealthiest Americans is based on estimates of net worth, which include publicly disclosed stakes in companies, real estate holdings, and other assets. Bhatt joins the ranks of young billionaires who have built fortunes through technology-driven ventures.
In addition to his role with Robinhood, Bhatt has been noted for his early life influences. Growing up in Virginia, he was exposed to science and technology through his father’s aerospace career. His academic path at Stanford provided the foundation to pursue entrepreneurial opportunities in financial technology.
Robinhood, under the leadership of Bhatt and Tenev, has changed how millions of Americans approach investing by lowering barriers to entry. While Bhatt is no longer in an executive role, his continued stake in the company keeps him closely tied to its growth and future direction.
Bhatt’s inclusion in the 2025 Forbes 400 as one of the youngest billionaires highlights his role in shaping retail investing and signals the growing presence of Indian-origin entrepreneurs in the US technology and finance industries.