War Financial News

Russia plans to produce more than 32,000 drones each year by 2030 and for domestic producers to account for 70% of the market, the TASS news agency cited First Deputy Prime Minister Andrei Belousov as saying on Saturday. Drones have been widely used by Moscow and Kyiv since Russia's February 2022 invasion of Ukraine and both sides are sharply increasing military production as the war drags on. «The annual production volume of unmanned aerial vehicles (UAVs) — excluding educational UAVs — is planned at 32,500 units,» Belousov told TASS.

Guards vowed on Saturday to reach «the enemy» far and near as tensions soar on key shipping routes where Tehran's allies have been attacking vessels. «Today, we are facing an all-out battle with the enemy,» said Guards commander Hossein Salami at a ceremony in the southern Gulf port city of Bandar Abbas, where the Guards' navy unveiled a new ship named «Abu Mahdi» and 100 missile launchers. Salami did not name the enemy, but 22 nations have agreed to participate in a U.S.-led coalition to safeguard commercial traffic in the Red Sea from attacks by Yemen's Iran-backed Houthi movement. The Houthi attacks since November are a show of support for the Palestinian group Hamas in its war with Israel. In response, many major shipping companies have switched to the longer and more costly route around the Africa's Cape of Good Hope rather than pass through the Suez Canal, which handles about 12% of global trade. «We need to defend our national interests to wherever they extend,» Salami said in a televised speech. «It will be harmful for the enemy to be found near and at a half distant.

Red Sea have thrown global shippers of vital goods for a loop — but it is hardly the only issue that big carriers are facing as 2024 kicks off. Giants like Maersk say the industry, which handles 90% of global trade, faces the possibility of significant disruptions, from ongoing wars to droughts affecting key routes like the Panama Canal. Complex vessel schedules are likely to be knocked out of sync for giant container ships, fuel tankers and other commodity haulers throughout the year.

infrastructure splurge is gathering pace. Liberum, a bank, calculates that a one-percentage-point rise in its forecast for annual global GDP growth would boost commodities demand by 1.5%. Freakish weather would have a deeper impact.

Christian Oliver and his two daughters died in a plane crash near a tiny private island in the eastern Caribbean, according to police in St Vincent and the Grenadines. The crash occurred Thursday just west of Petit Nevis island near Bequia as the plane headed for nearby St Lucia, police said in a statement.

Their Middle East visits came three months since Hamas militants from Gaza attacked Israel, triggering an offensive that has devastated the enclave, uprooted 90% of its population, and killed 22,600 people, according to Palestinian officials.

United Nations Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator Martin Griffiths said that Gaza has become "uninhabitable" and called for an immediate cessation of hostilities. Tens of thousands of people, mostly women and children, have been killed or injured during the attacks.

AP reported that Donald Trump, speaking at a campaign event in Iowa, said: “All I want is fair. I just hope that they’re going to be fair." The court will be considering for the first time the meaning and reach of a provision of the 14th Amendment “barring some people who engaged in insurrection from holding public office." Enacted in 1868 in the aftermath of the Civil War, the amendment has seen infrequent utilization, with the nation's highest court.

Palestinian militant group's financial mechanisms, the State Department said on Friday. The reward offering follows four rounds of U.S. sanctions on Hamas after the group's deadly incursion into Israel on Oct.

Hollywood stars including Cate Blanchett, Leonardo DiCaprio and Cameron Diaz have been named in the newly-released legal documents linked to the pedophile Jeffrey Epstein. Their names have been mentioned only once in the expansive documents, spanning hundreds of pages. However, all three have issued a personal denial of any involvement in the case. Blanchett and DiCaprio’s names were mentioned in a witness statement citing a false press report claiming the witness had met them. Other Hollywood stars to be mentioned in this section include Kevin Spacey, Bruce Willis and Star Wars director George Lucas. But the naming of these stars does not indicate any wrongdoing or any involvement in Epstein’s crimes. Blanchett, DiCaprio, Diaz, Spacey, Willis or Lucas have not been accused of any crime or involvement in Epstein’s abuse.

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The U.N. Food and Agriculture Organization says global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022

Ministry of Defence lost a decade-long legal battle on the deficient supply of kidney beans or rajma to the Kendriya Bhandar (KB), with the Army Purchase Organisation being directed by the arbitrator to return the cashed bank guarantee amount of Rs 44.5 lakh to KB with 7.5 per cent interest since 2012, a TOI report stated. The Supreme Court, led by Chief Justice of India DY Chandrachud, informed the Attorney General R Venkataramani, who represented the Ministry of Defence, that there were no grounds to challenge the findings of the trial court and the Delhi High Court, which had upheld the arbitral award. In May 2011, the Army Purchase Organisation (APO) had invited tenders for the supply of 1,200 tonnes of rajma for defence services, estimated at a cost of Rs 4.44 crore. KB was awarded the contract and provided a bank guarantee of Rs 44.5 lakh as a security deposit. A dispute arose over the quality of rajma supplied by KB.

America’s president, in one of his many public statements about the nearly month-long war in Gaza. Rishi Sunak, the British prime minister, has made similar comments; so has Emmanuel Macron, the French president. An emergency meeting of the Arab League last month ended with a call for “serious negotiations" towards a two-state solution.

North Korea fired artillery rounds near its disputed sea boundary with South Korea on Friday in violation of a fragile 2018 military agreement, officials said, prompting the South to plan similar drills. The rivals' drills are the first in about a year and are expected to deepen their already-serious animosity. South Korea’s Joint Chiefs of Staff said North Korea fired 200 rounds in the waters north of their disputed western sea boundary.

South Korea on Friday ordered an evacuation on Yeonpyeong, an island near its border with North Korea, a local official told Reuters. South Korea's military did not immediately respond to requests for more information. Earlier a newspaper reported that the South's military was due to resume live-fire drills there.

Oil and natural gas prices have started rising as traders bet on the continuation of Houthi attacks disrupting shipping in the Red Sea. The Yemen-based rebel formation, backed by Iran, has been attacking shipping along this critical region with suicide drones, missiles and rockets since the Gaza War. This is part of a strategy to impose a naval blockade of Israel, since the Houthis are allies of Hamas due to their strong connections with Iran.

Houthi-controlled Yemen got within a “couple of miles" of U.S. Navy and commercial vessels in the Red Sea before detonating on Thursday, just hours after the White House and a host of partner nations issued a final warning to the Iran-backed militia group to cease the attacks or face potential military action. Vice Admiral Brad Cooper, the head of U.S.

Investments Authority of the Ministry of Economy and Industry and the Tax Authority are working to provide individual support to entrepreneurs among the evacuees from the war zones who own residential buildings. As such, it has already been approved for a company that owns a residential apartment building, which holds written approval from the administration in the «building for rent» route, to contract with a government company for the occupancy of the apartments in this building by the evacuee population.

Investing.com-- Oil prices rose in Asian trade on Friday as focus remained on supply disruptions in the Middle East, although gains were somewhat limited in anticipation of key U.S. payrolls data.

(Reuters) — U.S. aerospace and defense company RTX said on Thursday industry veteran Phil Jasper will become president of its Raytheon (NYSE:RTN) unit after Wesley Kremer retires at the end of the first quarter.