Sweden’s defence and aviation company Saab has secured a 1.7 billion crown (approximately $159 million) contract from Germany to modernise and maintain the Taurus KEPD 350 cruise missiles for a ten-year period extending to 2035.
The contract, awarded by Taurus Systems—a joint venture between Saab and German missile systems firm MBDA Germany—calls for significant system upgrades and modernisation of the German Air Force’s TAURUS missiles, as well as comprehensive life cycle maintenance over the decade-long term.
Cruise missiles, which are noted for their low-altitude flight paths that help them evade detection by air defence radars, form a crucial component of Germany’s defence capabilities. The upgrade and maintenance programme is expected to ensure the operational readiness and technological relevance of the missile fleet well into the future.
Following the announcement, Saab’s shares experienced a notable surge, rising 10.8% in midday trading on the Stockholm stock exchange, after an earlier jump of up to 14% had pushed the stock to a record high. The strong market reaction comes as other European defence stocks also advanced amid growing expectations of increased military spending in the region following a recent summit of EU leaders.
The award underscores the continuing collaboration between Swedish and German defence industries and highlights ongoing investments in modernising military hardware to meet emerging security challenges.
The U.S. State Department has authorised a potential Foreign Military Sale of Advanced Medium Range Air‑to‑Air Missiles (AMRAAM) to Denmark, aimed...
Canadian Prime Minister Mark Carney has announced the appointment of Mark Wiseman, a former global investment banker and head of Canada’s largest pe...
Vince Zampella, co-creator of the Call of Duty franchise, has died after a Ferrari crash on Angeles Crest Highway north of Los Angeles....
U.S. President Donald Trump has approved plans to construct a new class of battleships, which he described as larger, faster and significantly more po...
It would be smart for Venezuelan President Nicolás Maduro to leave power, and the United States could keep or sell the oil it had seized off the coas...
Germany has confirmed a 43 million tonne lithium carbonate equivalent resource in the Altmark region, fuelling expectations that Europe could reduce strategic dependence on China as electric vehicle demand and clean transport targets accelerate.
President Volodymyr Zelenskyy offered to drop Ukraine's aspirations to join the NATO military alliance as he held five hours of talks with U.S. envoys in Berlin on Sunday to end the war with Russia, with negotiations set to continue on Monday.
Police in Berlin dispersed a protest on Saturday evening after around one thousand demonstrators gathered against alleged police violence.
Talks aimed at ending the war between Ukraine and Russia are set to continue in Berlin this weekend, with U.S. envoy Steve Witkoff due to meet Ukrainian President Volodymyr Zelenskyy and senior European leaders, a U.S. official said.
Vince Zampella, co-creator of the Call of Duty franchise, has died after a Ferrari crash on Angeles Crest Highway north of Los Angeles.
A major power outage swept across San Francisco on Saturday, leaving up to 130,000 customers without electricity, disrupting traffic and forcing some businesses to close temporarily, officials said.
Israel’s government has approved the creation of 19 new Jewish settlements in the occupied West Bank, a move that analysts say further undermines the prospects for a viable Palestinian state.
Israeli Prime Minister Benjamin Netanyahu said Israel is monitoring recent Iranian military exercises and will raise the issue with U.S. President Donald Trump during his visit to Washington next week.
Swedish customs officials have boarded a Russian freighter anchored in Swedish waters after confirming that the vessel and its owners are subject to European Union and U.S. sanctions.
The U.S. State Department has authorised a potential Foreign Military Sale of Advanced Medium Range Air‑to‑Air Missiles (AMRAAM) to Denmark, aimed at bolstering the Scandinavian nation’s air defence capabilities, the Pentagon’s Defence Security Cooperation Agency said on Monday.
Canadian Prime Minister Mark Carney has announced the appointment of Mark Wiseman, a former global investment banker and head of Canada’s largest pension fund, as the country’s next ambassador to the United States.
Vince Zampella, co-creator of the Call of Duty franchise, has died after a Ferrari crash on Angeles Crest Highway north of Los Angeles.
U.S. President Donald Trump has approved plans to construct a new class of battleships, which he described as larger, faster and significantly more powerful than any previous U.S. warship.
It would be smart for Venezuelan President Nicolás Maduro to leave power, and the United States could keep or sell the oil it had seized off the coast of Venezuela in recent weeks, U.S. President Donald Trump said on Monday.
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