Flooding and Landslides Hit Italy’s Tuscany and Emilia-Romagna
Italy’s Tuscany and Emilia-Romagna regions are grappling with severe flooding and landslides, prompting a red weather alert as heavy rains inundate streets and homes.
Italy has approved Baykar's acquisition of Piaggio Aerospace, a move to strengthen Turkish aviation in Europe, expanding production capacity and preserving a historic brand.
Italy has approved the acquisition of Italian aircraft maker Piaggio Aerospace, by Baykar, Turkish producer of unmanned combat aerial vehicle (UCAV).
Established in 1884, Piaggio Aerospace – unconnected to Vespa scooter maker Piaggio – had been under government-controlled special administration since filing for protection from creditors in 2018. The company specializes in designing and constructing aircraft and aeronautical engines for both military and civil applications.
Without disclosing financial details, the ministry stated that Baykar's offer among two others is considered “the most suitable to guarantee the interests of the employees and creditors of Piaggio Aerospace and to relaunch the Group's industrial prospect.”
"The relaunch of the company is guaranteed, with a clear and ambitious industrial vision," - said the Minister of Enterprise and Made in Italy, Adolfo Urso. “After six years of waiting, we are giving a future to Piaggio Aerospace that is a strategic asset of our country.”
Baykar committed to maintain and expand the production of aircraft and related technical support, training and logistics activities, as well as engine maintenance and engine component manufacturing, the statement added.
Baykar has turned into the world's largest drone company. Türkiye controls “65% of the global drone market,… and almost 60% of this market belongs to Baykar,” – said Anadolu Agency referring to Selcuk Bayraktar, the Chairman and Chief Technology Officer of Turkish drone maker.” Baykar's revenues were $2 billion last year, up from $1.4 the previous year, with 90% from foreign markets. The company accounts for around a third of Turkey's total defence and aerospace exports.
"As Baykar, we are strengthening the Turkish aviation industry’s position in Europe by acquiring Piaggio Aerospace, a company with a rich 140-year legacy," - Haluk Bayraktar, the company's CEO, wrote on platform X.
"With this strategic move, we are not only enhancing our production capacity but also taking on the responsibility of carrying a historic brand into the future."
XPeng Motors plans to mass-produce flying cars by 2026, becoming the first company globally to do so. CEO He Xiaopeng also highlighted advancements in autonomous driving and humanoid robotics as part of the company’s future tech initiatives.
World leaders welcomed the 30-day ceasefire proposal that Ukraine has agreed to, calling it a step toward ending the conflict with Russia.
Regarding the Armenia-Azerbaijan process, we cannot forget the years of occupation, and we will not forget them, President Ilham Aliyev said in his speech at the opening ceremony of the 12th Global Baku Forum.
In Tuesday’s closely watched parliamentary election, Greenland’s pro-business opposition Demokraatit party took a commanding lead after over 90% of the ballots were counted.
BioNTech forecasts a revenue decline for 2025, expecting between 1.7 billion and 2.2 billion euros, down from 2.75 billion euros last year. This drop is due to Pfizer write-downs and stable vaccination rates. BioNTech also plans significant job cuts and new hires.
At least five people were killed and 27 injured when a concrete beam from an under-construction expressway bridge collapsed on Rama 2 Road in Thailand. Authorities are searching for missing individuals as investigations into the cause continue.
The United States of America on Friday gave marching orders to the South African Ambassador Ebrahim Rasool declaring him ‘persona non grata’ - the latin phrase for “unwelcome person”.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment