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.
World leaders have expressed condolences and solidarity after 15 people were killed in a mass shooting during Hanukkah celebrations at Sydney’s Bond...
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 15th of December, covering the latest developments you need to...
The political pendulum in Santiago swung decisively to the conservative hardline on Sunday night, as voters delivered a commanding mandate to the Repu...
Thailand has stopped fuel shipments passing through its border with Laos over fears they were being diverted to Cambodia, as fierce fighting between t...
Two people were found dead at the Los Angeles home of actor-director-producer Rob Reiner, with law enforcement treating the deaths as an apparent homi...
Volodymyr Zelenskyy has signalled that Ukraine may be prepared to abandon its long-standing ambition to join the NATO military alliance, as he held more than five hours of talks with U.S. envoys in Berlin on Sunday aimed at ending the conflict with Russia. Negotiations are 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.
Ukraine has agreed on key elements of a post-war reconstruction plan in talks with Jared Kushner and other top U.S. officials, President Volodymyr Zelenskyy said on Wednesday (10 December), during ongoing peace efforts to reach a settlement in the nearly four-year war.
The Oligarch’s Design is an investigative documentary exploring how financial power, political influence and carefully constructed narratives can shape conflict and public perception.
Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
Russia’s human rights commissioner, Tatyana Moskalkova, has said that Ukraine has not provided Moscow with a list of thousands of children it alleges were taken illegally to Russia, despite the issue being discussed during talks in Istanbul.
Iranian authorities have seized a foreign tanker carrying more than 6 million litres of smuggled fuel in the Sea of Oman, detaining all 18 crew members on board.
An explosive device found in a vehicle linked to one of the alleged attackers in Bondi shooting has been secured and removed according to Police. The incident left 12 people dead.
World leaders have expressed condolences and solidarity after 15 people were killed in a mass shooting during Hanukkah celebrations at Sydney’s Bondi Beach on Sunday.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 15th of December, covering the latest developments you need to know.
The political pendulum in Santiago swung decisively to the conservative hardline on Sunday night, as voters delivered a commanding mandate to the Republican Party leader to restore public order and overhaul Chile's economy.
Thailand has stopped fuel shipments passing through its border with Laos over fears they were being diverted to Cambodia, as fierce fighting between the two neighbours shows no sign of easing.
Two people were found dead at the Los Angeles home of actor-director-producer Rob Reiner, with law enforcement treating the deaths as an apparent homicide, the Los Angeles Police Department (LAPD) said on Sunday (14 December).
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment