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.
On 4 August, relatives of missing persons and human rights activists marched through Mexico City, demanding answers and justice amid the country’s o...
Democratic lawmakers in Texas left the state on 4 August in a dramatic move to deny Republicans the quorum needed to pass a redistricting plan backed ...
A former US Army soldier suspected of fatally shooting four people in rural Montana remains at large as of 4 August, authorities said, triggering a st...
Belgium has launched a humanitarian aid mission to the Gaza Strip, officials confirmed on 4 August, as the humanitarian crisis in the war-torn territo...
A senior adviser to Donald Trump accused India on 4 August of helping finance Russia’s war in Ukraine through its ongoing oil trade with Moscow, spa...
Türkiye’s first domestically produced electric SUV, the Togg T10X, is expected to hit the German market by the end of 2025, German daily Bild reported.
Germany announced on Friday it will send two more Patriot air defence systems to Ukraine, following a deal with the United States that ensures Berlin will be prioritised for receiving the latest replacements.
Recognition of a Palestinian state should come at the end of talks on a two-state solution but Berlin would respond to any unilateral actions, after citing "annexation threats" by some Israeli ministers, according to Germany's foreign minister on Thursday.
Germany’s cabinet has approved a draft 2026 budget on Wednesday featuring record investments and a borrowing level nearly three times higher than last year’s, aiming to strengthen infrastructure and defence while efforts to revive growth.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Supporters of Brazil’s former president Jair Bolsonaro gathered in São Paulo on 3 August, calling for justice reform and denouncing legal cases against the far-right leader as politically motivated.
On 4 August, relatives of missing persons and human rights activists marched through Mexico City, demanding answers and justice amid the country’s ongoing crisis of enforced disappearances.
Democratic lawmakers in Texas left the state on 4 August in a dramatic move to deny Republicans the quorum needed to pass a redistricting plan backed by Donald Trump, aiming to preserve the GOP's narrow House majority ahead of the 2026 elections.
A former US Army soldier suspected of fatally shooting four people in rural Montana remains at large as of 4 August, authorities said, triggering a state-wide manhunt and warnings to residents.
Belgium has launched a humanitarian aid mission to the Gaza Strip, officials confirmed on 4 August, as the humanitarian crisis in the war-torn territory continues to worsen.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment