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Ukrainian troops have completed training in the fastest anti-aircraft missile in the world that will present a severe threat to Russian aircraft, the British defence secretary has confirmed.
Ben Wallace said the advanced Starstreak weapon that travels at more than 5,000kph and is made in Belfast had been deployed into the war zone for the first time and would be used imminently against the Russian offensive.
Britain’s defence industry is benefitting significantly from the Ukraine conflict with shares soaring among companies supplying missiles and other hardware.
“One of the biggest challenges is that the more you go up in sophistication of weapons systems, the more training you require to use them,” he told The Mail on Sunday. With Britain providing more than 10,000 anti-tank and anti-aircraft missiles, it was “doing more than pretty much anyone else” to help Ukraine's military, he said.
Ukraine’s troops are understood to have been trained in the more challenging Starstreak system via remote online learning and potentially by British instructors operating in Eastern Europe.
Unlike other surface-to-air missiles (SAMs), Starstreak, built in Northern Ireland, follows a laser beam-guidance system rather than heat-seeking that can be deterred by magnesium flares.
It is incredibly fast, reaching a maximum velocity of three times the speed of sound, or Mach 4, much faster than the top speed of a Stinger anti-aircraft missile which can travel at Mach 2.5. It also has a range of seven kilometres, with each missile carrying three tungsten-alloy darts each weighing 450g.
Ukraine’s medium range SAM threat has largely forced Russian jets to fly low and fast, which will make them vulnerable to the shoulder-launched weapon. Starstreak will prove particularly deadly for helicopters, giving pilots little time to react.
The weapon that is proving decisive in hitting Russian armour is the British-made Next Generation Anti-Tank Weapon (NLAW). A Ukraine army official has said up to 40 per cent of all Russian tanks destroyed in the conflict have been hit by NLAWs.
Defence minister James Heappey argued in the Commons on Monday that small detachments of Ukrainian troops armed with NLAWs had proven highly capable at attacking the large, slow-moving Russian armoured formations.
“We have seen on the footage of Ukrainians, interrupting activities of fast armoured columns, that small bands of determined people with the right missile technology are far more lethal than any opposing armoured force might prove to be,” he said.
Britain has sent more than 4,000 of the advanced but easy-to-use missiles, which at £20,000 ($26,170) each are significantly cheaper than US-made Javelin, estimated at £156,000.
The NLAWs and Starstreaks are both made at the former Shorts factory in Belfast that is now owned by Thales, a French company.
With the company advertising 22 jobs, including one for a “missile architect”, it is clearly experiencing a post-pandemic boon in which share prices for some defence companies have increased by up to 72 per cent in a day. Thales’s share price has risen by 42 per cent in the past month.
With the German defence budget leaping to $100 billion a year, it is expected that more military items will be bought from British companies, including the Eurofighter Typhoon and meteor air-to-air missiles, which are made in Bolton, Greater Manchester.
The specs
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Transmission: seven-speed
Power: 620bhp
Torque: 760Nm
Price: Dh898,000
On sale: now
Results
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The five pillars of Islam
Our Time Has Come
Alyssa Ayres, Oxford University Press
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Straightforward ways to reduce sugar in your family's diet
- Ban fruit juice and sodas
- Eat a hearty breakfast that contains fats and wholegrains, such as peanut butter on multigrain toast or full-fat plain yoghurt with whole fruit and nuts, to avoid the need for a 10am snack
- Give young children plain yoghurt with whole fruits mashed into it
- Reduce the number of cakes, biscuits and sweets. Reserve them for a treat
- Don’t eat dessert every day
- Make your own smoothies. Always use the whole fruit to maintain the benefit of its fibre content and don’t add any sweeteners
- Always go for natural whole foods over processed, packaged foods. Ask yourself would your grandmother have eaten it?
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1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
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8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
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Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
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The President's Cake
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Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
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