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. Supreme Court has struck down President Trump's sweeping tariffs on Friday (20 February), which he imposed under a law intended for national ...
Spain’s Constitutional Court has rejected an appeal by the father of a 25‑year‑old woman who opposed her right to euthanasia, clearing the way f...
Europe's five largest defence powers are teaming up on a multi-million-euro project to bring low-cost air-defence systems such as autonomous drones or...
NASA successfully completed a critical fueling rehearsal on Thursday (19 February) for its giant moon rocket, Artemis II, after earlier hydrogen leaks...
Uzbekistan's president Shavkat Mirziyoyev has held a series of high-level meetings in the U.S. aimed at strengthening bilateral economic and strategic...
Europe's five largest defence powers are teaming up on a multi-million-euro project to bring low-cost air-defence systems such as autonomous drones or missiles into production within 12 months, ministers meeting in Krakow, Poland, said on Friday (20 February).
Britain and Germany’s highest ranking military chiefs have made an unprecedented joint appeal to the public to accept the “moral” case for rearmament and prepare for the threat of war with Russia.
Norway is holding a commanding lead in the medal standings with 12 golds and a total of 26, with Italy having an historic performance on home soil on the ninth day of the Milano-Cortina Winter Olympics on Sunday (15 February).
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 15th of February, covering the latest developments you need to know.
Israel is preparing for the possibility of receiving a green light from the United States to launch strikes against Iran’s ballistic missile system, according to Israel’s public broadcaster KAN.
Aghdam’s Qarabag FK experienced a 6–1 defeat to England’s Newcastle United in the first leg of their UEFA Champions League play-off tie in Azerbaijan's capital Baku Wednesday evening (18 February).
U.S. President Donald Trump’s 'Board of Peace' will hold its first leaders’ meeting on Thursday (19 February) in Washington, D.C., launching an initiative aimed at stabilising Gaza and addressing global conflicts. It's drawn support from regional powers but refusals from several EU countries.
The Board of Peace will be "looking over the United Nations," said U.S. President Donald Trump at the inaugural Washington meeting, where representatives from over 20 countries gathered to unveil plans for Gaza’s reconstruction and coordinate international support.
Russian President Vladimir Putin met Cuban Foreign Minister Bruno Rodriguez in the Kremlin on Wednesday, telling him that new restrictions imposed on the communist-run island were unacceptable.
The U.S. Supreme Court has struck down President Trump's sweeping tariffs on Friday (20 February), which he imposed under a law intended for national emergencies.
Spain’s Constitutional Court has rejected an appeal by the father of a 25‑year‑old woman who opposed her right to euthanasia, clearing the way for the procedure to go ahead, the court said on Friday (20 February).
Europe's five largest defence powers are teaming up on a multi-million-euro project to bring low-cost air-defence systems such as autonomous drones or missiles into production within 12 months, ministers meeting in Krakow, Poland, said on Friday (20 February).
Russian Foreign Minister Sergey Lavrov reaffirmed Russia’s support on Friday (20 February) for the negotiation process between Washington and Tehran amid escalating regional tensions.
Relations between Russia and Japan have effectively collapsed due to Tokyo’s “unfriendly” stance towards Moscow, the Kremlin said on Friday (20 February), adding that there is currently no dialogue aimed at concluding a peace treaty.
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