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☆ World-class ships and new supersonic jets mark the quiet rise of a new defense industry powerhouse in Asia
▼ + stars: | 2023-03-10 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

South Korea's defense industry has seen meteoric growth in recent years. 2023 is also shaping up to be a good year for South Korea's defense industry. South Korea's defense industry was originally tailored to meet the country's own needs, and Seoul assisted its growth with subsidies and other incentives. As South Korea's defense products increased in quality, so too did its exports. The South Korean defense industry's most anticipated product might be the KF-21 Boramae, a multi-role combat jet optimized for air-superiority missions.

☆ Poland has delivered tanks to Ukraine, government announces on war's first anniversary
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

WARSAW, Feb 24 (Reuters) - Poland has delivered four Leopard tanks to Ukraine already and is prepared to deliver more quickly, Polish Prime Minister Mateusz Morawiecki said on Friday, as Western nations increase their support to Kyiv a year after Russia invaded the country. We will definitely not leave you, we will support Ukraine until complete victory over Russia," Morawiecki said during a visit to Kyiv, standing next to Ukrainian President Volodymyr Zelenskiy. Warsaw's commitment to its neighbour has been instrumental in persuading European allies to donate heavy weapons to Ukraine, including tanks, a move opposed by several governments, including Berlin, until recently. Poland said last month it aimed to get training time for Ukrainian soldiers on Leopard 2 tanks down to five weeks. Reporting by Marek Strzelecki, Anna Koper, Pawel Florkiewicz Editing by Alex Richardson, Tomasz Janowski and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Sweden to send up to 10 Leopard tanks to Ukraine
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, Feb 24 (Reuters) - Sweden will donate up to 10 Leopard 2 tanks and HAWK anti-aircraft systems to Ukraine, the Nordic country's government said on Friday, in its latest tranche of military support to help Kyiv push back the Russian invasion. "The Swedish tanks reinforce the Leopard 2 contribution that other European countries make. Coordination of support is ongoing with international partners donating Leopard 2 or other tanks," the government said in a statement. Earlier on Friday, the one-year anniversary of the invasion, Poland said it had delivered four Leopard tanks to Ukraine already and was prepared to deliver more quickly. Warsaw's commitment to its neighbour has been instrumental in persuading European allies to donate heavy weapons to Ukraine, including tanks, a move opposed by several governments, including Berlin, until recently.

☆ Russia's war on Ukraine latest: Putin gives nuclear warning, Biden rallies allies
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +3 min

[1/7] Russia's President Vladimir Putin takes part in an event marking Gazprom's 30th anniversary, via video link at a residence outside Moscow, Russia February 17, 2023. Feb 21 (Reuters) - Russian President Vladimir Putin on Tuesday delivered a nuclear warning to the West over Ukraine, suspending a bilateral nuclear arms control treaty, announcing new strategic systems were on combat duty and warning that Moscow could resume nuclear tests. DIPLOMACY* "One year ago, the world was bracing for the fall of Kyiv," Biden said at Warsaw's Royal Castle. "I can report: Kyiv stands strong, Kyiv stands proud, it stands tall and, most important, it stands free." * A year on from Russia's invasion, Ukraine and its government have not just survived.

Hours before Biden spoke in Poland following a surprise visit to Ukraine, Russian President Vladimir Putin vowed that Moscow would achieve its objectives in Ukraine and accused the West of plotting to destroy Russia. Biden proclaimed "unwavering" support for Kyiv and a commitment to bolstering NATO's eastern flank facing Russia, while rejecting Moscow's contention that the West was plotting to attack Russia. "I can report: Kyiv stands strong, Kyiv stands proud, it stands tall and, most important, it stands free. "When President Putin ordered his tanks to roll into Ukraine, he thought we would roll over. Putin said Ukraine had sought to strike a facility deep inside Russia where it keeps nuclear bombers, a reference to the Engels air base.

☆ Explainer: How to correctly re-export German tanks
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +7 min

The following explains defence export rules in Germany and other countries and the way such deals have been handled previously:HOW DO GOVERNMENTS CORRECTLY RE-EXPORT GERMAN TANKS? The same goes for cases where the weapons may be used to wage a war of aggression or the re-export approval might violate Germany's obligations under international law. As defence exports are a touchy issue in Germany, foreign countries usually do not directly submit a formal request for re-export to the German authorities. If not, the foreign country abstains from submitting a formal re-export request, and no diplomatic harm is done. GERMANY'S HIGH HURDLES FOR DEFENCE EXPORTSGermany has one of the toughest defence export regimes in the world – largely due to its bloody pre-1945 past.

☆ German green-light for Leopard tanks is 'secondary' issue, Poland says
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

Poland is pushing for countries who have Leopards to send them to Ukraine, even if Germany does not want to join them. Even if we did not get this approval ... we would still transfer our tanks together with others to Ukraine", Morawiecki told reporters. Poland's Prime Minister Mateusz Morawiecki arrives for a European Union leaders' summit in Brussels, Belgium December 15, 2022. German Foreign Minister Annalena Baerbock said on Sunday that Berlin would not stand in the way if Poland sent its Leopard 2 tanks to Ukraine. However, a German government spokesperson said on Monday that Berlin had still not received any requests to authorise the re-export of the tanks.

Below are the events, trends and topics investors expect to shape the outlook for emerging markets next year. "The economic downturns along with the aggressive monetary tightening and geopolitical and commodity shocks that induce them will be temporarily painful in financial and emerging markets," said David Folkerts-Landau, group chief economist at Deutsche Bank. Globally, the war has transformed energy markets and inflation pressures, food security and geopolitical risk perception - factors that are often more keenly felt in emerging economies. "There's not actually a lot of debt maturing next year," said Carmen Altenkirch, emerging markets sovereign analyst at Aviva Investors. 6/ TURKEY ELECTIONSPresident Tayyip Erdogan could face the biggest political challenge of his two decades in power as Turks head to the ballot box in the most high-profile vote in emerging markets.

☆ Polish regulator to appeal after Gazprom Nord Stream 2 fine annulled
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

WARSAW, Nov 21 (Reuters) - UOKiK will appeal a ruling that annulled fines it imposed on Russia's Gazprom (GAZP.MM) and five other companies responsible for building the Nord Stream 2 pipeline, the Polish regulator said on Monday. UOKiK in 2020 fined Gazprom more than 29 billion zlotys ($6.33 billion) for building the Nord Stream 2 gas pipeline without Warsaw's approval. It also imposed a total fine of 234 million zloty spread across five other companies involved in financing the project. The other companies affected by the fines were Engie Energy (ENGIE.PA), Uniper (UN01.DE), OMV (OMVV.VI), Shell (SHEL.L) and Wintershall. Poland was a staunch opponent of the Nord Stream 2 project because it feared Russia could use energy supplies to exert influence over European countries.

"The destruction that occurred on the same day simultaneously on three strings of the offshore gas pipelines of the Nord Stream system is unprecedented," said network operator Nord Stream AG. Gazprom (GAZP.MM), the Kremlin-controlled company with a monopoly on Russian gas exports by pipeline, declined to comment. Danish Defence Command/Handout via REUTERS Read MoreRussia slashed gas supplies to Europe via Nord Stream 1 before suspending flows altogether in August, blaming Western sanctions for causing technical difficulties. The new Nord Stream 2 pipeline had yet to enter commercial operations. European gas prices rose on the news of the leaks, with the benchmark October Dutch price up almost 10% on Tuesday.

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