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 Georgian Defence Minister Irakli Chikovani was in Yerevan, Armenia on Monday for an official visit following an invitation by his Armenian counter...
The European Union is reportedly considering banning the use of ethanol as an active ingredient in biocidal products — including hand sanitisers —...
European nations are reportedly collaborating with Ukraine on a 12-point plan aimed at ending Russia’s conflict along the existing front lines, acco...
Syrian civil defence teams have discovered a new mass grave east of Douma, near the capital Damascus, recovering the remains of 20 people — most of ...
China’s imports of Russian crude oil increased in September, highlighting Beijing’s continued energy cooperation with Moscow despite persistent pr...
Germany has recalled its ambassador to Georgia, Ernst Peter Fischer, for what it says are “consultations on how to proceed”.
Britain's King Charles will welcome German President Frank-Walter Steinmeier to Windsor Castle for a three day trip in December, the first state visit by a German President in 27 years, a statement from Buckingham Palace said.
A newly elected German mayor survived multiple stab wounds in a family attack.
Germany has ended its fast-track citizenship programme, reflecting a shift in public attitudes toward migration and integration.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
A planned summit between President Donald Trump and Russian President Vladimir Putin was paused on Tuesday after Moscow rebuffed calls for an immediate ceasefire in Ukraine, casting fresh doubt over hopes that another high-profile meeting might restart stalled peace efforts.
European nations are reportedly collaborating with Ukraine on a 12-point plan aimed at ending Russia’s conflict along the existing front lines, according to Bloomberg News on Tuesday.
Syrian civil defence teams have discovered a new mass grave east of Douma, near the capital Damascus, recovering the remains of 20 people — most of them women and children.
China’s imports of Russian crude oil increased in September, highlighting Beijing’s continued energy cooperation with Moscow despite persistent pressure from the United States to desist.
Several countries and international organisations have welcomed the ceasefire agreement between Afghanistan and Pakistan, describing it as a vital step towards easing tensions and fostering regional stability.
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