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☆ A Norwegian fisherman accidentally caught a US submarine in his nets
▼ + stars: | 2024-11-14 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

A Norwegian fisherman caught a US submarine in his nets this week. The US Navy has sent several vessels into nearby waters in recent months amid tensions with Russia. AdvertisementA Norwegian fisherman made a surprising catch on Monday in the form of a US submarine. In June, the Ohio-class ballistic missile submarine USS Tennessee and the cruiser USS Normandy were deployed to the Norwegian Sea in response to Russian maneuvers, defense news site Army Recognition reported. AdvertisementIn September, US lawmakers expressed concerns about delays and soaring costs in building new vessels, including Virginia-class submarines, particularly in light of China's recent naval expansions.

Persons: —, Harald Engen, Engen, Pierson Hawkins, Hawkins, Harry S, Wales, Jason Dunham, USS Stout, Ken Calvert Organizations: US Navy, Service, NRK, Norwegian Coast Guard, Barents Observer, Fleet, Forces, Truman Carrier Strike, British, USS, US Naval Forces Locations: Norwegian, Russia, Malangen, Norway's, Virginia, Tromsø, Norway, Ohio, Tennessee, Normandy, Barents, US Naval Forces Europe, Africa

☆ Hoard of silver coins dating from Norman Conquest is Britain’s most valuable treasure find ever
▼ + stars: | 2024-10-22 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

London CNN —A hoard of Norman-era silver coins unearthed five years ago in southwestern England has become Britain’s most valuable treasure find ever, after it was bought for £4.3 million ($5.6 million) by a local heritage trust. The coins date from one of the most turbulent periods in English history. “The hoard was buried in around 1067-1068 on an estate in Chew Valley which later belonged to Giso, the Bishop of Wells. We think it was probably buried for safekeeping during the time of rebellions against William in the South West. Finding coins that were in use almost 1,000 years ago is exceptionally rare – this hoard contains twice as many coins from during Harold II’s reign as had previously been found.

Persons: King Edward the Confessor, Harold Godwinson, Earl of Wessex, Harald Hardrada, King of Norway, William, Duke of Normandy, Edward, King Harold II, Harold II, William I, William the, Amal Khreisheh, Wells, “, Harold’s, Khreisheh, Harold II’s Organizations: London CNN, British, South West Heritage Trust, British Museum Locations: London, England, Chew, Bristol, Hastings, Chew Valley, Giso, South, Exeter, Ireland, Somerset

☆ New cervical cancer treatment cuts risk of death from disease, according to trial results
▼ + stars: | 2024-10-16 | by ( Sam Tupper | ) edition.cnn.com time to read: +5 min

All had locally advanced cervical cancer, although none had tumors that had spread to other organs. This discovery led to the development of an HPV vaccine that can help prevent cervical cancer in women. Brawley stressed the importance of routine cervical screening as advanced-stage cervical cancer rises among White and Black women in the US. According to the US Centers for Disease Control and Prevention, cervical cancer screenings typically test for signs of HPV that can cause cell changes on the cervix. “Of the 4,400 deaths from cervical cancer, none of them get screened every year.”Chemotherapy to treat cervical cancer can come with unpleasant side effects like nausea, vomiting and hair loss, Brawley noted.

Persons: ” Dr, Mary McCormack, “, ”, Otis Brawley, Harald zur Hausen, Brawley, White, Dr, Sanjay Gupta, It’s, ” Brawley, “ We’re Organizations: CNN, Mary McCormack of University College Hospital, Cancer Research, Johns Hopkins University, American Cancer Society, US Centers for Disease Control, CNN Health, US Food and Drug Administration Locations: Brazil, India, Italy, Mexico, United States

☆ The princess and the shaman: Norway's royal wedding unlike any other
▼ + stars: | 2024-08-31 | by ( Alexander Smith | ) www.cnbc.com time to read: +2 min

Norway's Princess Martha Louise and her American fiancé Durek Verrett on their way to the gala dinner for Princess Ingrid Alexandra at the castle in Oslo on June 17, 2022. A Norwegian princess marrying her Hollywood fiancé — it sounds like exactly the sort of fairy tale to charm a world beset by war and political strife. But the wedding on Saturday of Princess Märtha Louise to Durek Verrett, an American spiritual healer and self-professed shaman, is mired in controversy and criticism. The wedding has intensified scrutiny and criticism of the views — and associated businesses — pedaled by the princess and the shaman. And it has added to a growing tone of dissatisfaction with the historically popular Norwegian royals.

Persons: Martha Louise, Princess Ingrid Alexandra, Princess Märtha Louise, Durek, Märtha Louise, Norway's, King Harald, Queen Sonja, Prince Haakon, Mette, Marit, Verrett Organizations: Hollywood, UNESCO, Heritage, Netflix Locations: Oslo, Norwegian, American, California, Verrett, Geiranger

COPENHAGEN, Denmark (AP) — Europe’s oldest monarch, King Harald V of Norway, is getting a permanent pacemaker on Tuesday, the palace said, adding that the monarch will followingly remain in hospital for a few days. In a brief statement, the royal household said the 87-year-old would get it at Oslo's university hospital, Rikshospitalet. Last month, Harald fell ill during a private holiday with his wife Queen Sonja on the Malaysian resort island of Langkawi. Harald returned to Norway aboard a medical airplane and was immediately transferred to an Oslo hospital. He ascended to the throne following the death of his father, King Olav, in 1991.

Persons: King Harald V of, followingly, Harald, Queen Sonja, Queen Margrethe II of Denmark, King Olav, Prince Haakan Organizations: — Locations: COPENHAGEN, Denmark, King Harald V of Norway, Malaysian, Langkawi, Norway, Oslo

On a more positive note, Guggenheim upgraded GSK to buy thanks to strength across multiple product pipelines. Elsewhere, RBC upgraded Lyft to outperform, calling for a major rally ahead. Analyst Brad Erickson upgraded Lyft shares to outperform from sector perform, and raised his price target by $6 to $23, implying roughly 40.7% potential increase. — Pia Singh 6:10 a.m.: DoorDash upgraded by RBC on new partnerships potential, higher order growth RBC Capital Markets upgraded DoorDash to outperform from sector perform. Analyst Seamus Fernandez upgraded shares to buy from neutral and assigned a £20.31 price target, representing 21% upside to GSK's latest close.

Persons: Guggenheim, Wells Fargo, Timur Braziler, Braziler, — Pia Singh, Lyft, Brad Erickson, Erickson, Seamus Fernandez, Fernandez, Citi downgrades Ferrari, Ferrari, Harald Hendrikse, Fred Imbert Organizations: CNBC, Citi, Ferrari, GSK, RBC, Popular, RBC Capital Markets RBC Capital Markets, DASH, Capital Markets, Guggenheim Securities, drugmaker GSK, Guggenheim Locations: Wells Fargo, Puerto Rico, U.S, Wells, Shingrix, Arexvy, Milan

☆ Norway’s King Harald fitted with pacemaker after falling ill on holiday
▼ + stars: | 2024-03-02 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +1 min

CNN —Norway’s King Harald has had a temporary pacemaker fitted at a hospital in Malaysia after falling ill on holiday there. His transport will be facilitated by The Norwegian Government, while the Norwegian Armed Forces are responsible for the practical arrangements for his return to Norway, the royal household noted. The king, who was on holiday, fell ill with an infection earlier in the week. He has been king of Norway since 1991, and is Europe’s oldest monarch. His next official engagement, where he is due to preside over the Council of State at the Royal Palace, is scheduled to take place on March 8, according to the royal household’s website.

Persons: CNN — Norway’s King Harald, Maliha Organizations: CNN, The, The Norwegian Government, Norwegian Armed Forces, of State Locations: Malaysia, Langkawi, Norway, The Norwegian

☆ The Apple car is the latest casualty in the brutal EV market
▼ + stars: | 2024-02-28 | by ( Hayley Peterson | Nora Naughton | ) www.businessinsider.com time to read: +2 min

Read previewThe Apple car is dead (apparently). The scrapped plans would be a grim sign for the EV market in the US, which has suffered from flagging demand. As BI reported earlier this month, car companies are rethinking EV plans in response to softening demand for pure electric cars. Apple's "Project Titan" car was also supposed to be an autonomous, expensive technology that most car companies have already put on the back burner. Automakers shift EV plansLike Apple, US auto companies have been shifting plans to account for softer EV demand.

Persons: —, Apple's, BYD, We're, Stella Li, Li, Mary Barra, Elon Musk's Tesla, Musk, Harald Wilhelm, Mercedes Organizations: Service, EV, Apple, Bloomberg, Business, Yahoo Finance, General, Volvo, Polestar, Benz Locations: North America

☆ The Apple car's apparent death is another grim sign for EVs
▼ + stars: | 2024-02-28 | by ( Hayley Peterson | Nora Naughton | ) www.businessinsider.com time to read: +3 min

Apple appears to be tapping out as car companies scramble to adjust EV plans. AdvertisementThe Apple car is dead (apparently). The scrapped plans would be a grim sign for the EV market in the US, which has suffered from flagging demand. As BI reported earlier this month, car companies are rethinking EV plans in response to softening demand for pure electric cars. Automakers shift EV plansLike Apple, US auto companies have been shifting plans to account for softer EV demand.

Persons: —, Apple's, BYD, We're, Stella Li, Li, Mary Barra, Elon Musk's Tesla, Musk, Harald Wilhelm, Mercedes Organizations: Apple, Service, EV, Bloomberg, Yahoo Finance, General, Volvo, Polestar, Benz Locations: North America

☆ Mercedes Benz ditches plan to sell only EVs by 2030
▼ + stars: | 2024-02-23 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

In 2021, the German carmaker announced plans only to sell electric vehicles — "where market conditions allow" — by 2030. And, as of Thursday's release, it expects its overall EV sales to reach just 50% by the time 2030 rolls around. During a September interview at the Munich car show, Mercedes CEO Ola Källenius first hinted at a more narrow outlook for the EV market. AdvertisementMercedes expects its EV sales to account for about 19% to 21% of new car sales this year. Mercedes isn't the only automaker that is reevaluating its EV plans.

Persons: Mercedes, Ola Källenius, It's, Mercedes isn't, Harald Wilhelm Organizations: Benz, carmaker, EV, Mercedes, Reuters Locations: Munich

☆ Aleksander Aamodt Kilde recalls horror crash that resulted in emergency surgery
▼ + stars: | 2024-01-18 | by ( Matias Grez | Coy Wire | ) edition.cnn.com time to read: +5 min

CNN —Aleksander Aamodt Kilde remembers seeing the net along the edge of the ski slope rushing towards him at 120 km/h (74.6 mph). Mikaela Shiffrin was waiting at the hospital when Kilde came out of surgery. The American, widely considered one of the greatest skiers of all time, then traveled to Austria where she earned an emotional victory – her 94th overall World Cup win, the most in men’s or women’s skiing history – in the FIS World Cup women’s slalom. “Really, really proud of this evening,” she said, per the Olympic channel. “She just shows up, the star she is, and for me how much love she brings and how much care she brings into something that’s really, really difficult,” he said.

Persons: CNN — Aleksander Aamodt Kilde, ” Kilde, CNN Sport’s Coy Wire, Mikaela Shiffrin, Kilde, Harald Steiner, ”, “, Petra Vlhova, they’ve, Shiffrin, Aleks, …, ’, ” Shiffrin, Giovanni Auletta, that’s, he’s Organizations: CNN, CNN Sport’s, FIS Locations: Norwegian, Wengen, Switzerland, Bern, Kilde, Austria, Innsbruck, men’s

☆ Far-right parties eye gains in next year's EU parliament elections
▼ + stars: | 2023-12-03 | by ( Alvise Armellini | ) www.reuters.com time to read: +3 min

ROME, Dec 3 (Reuters) - European far-right parties met in Italy on Sunday vowing to reshape the European Union after next year's European Parliament elections, toughening the bloc's approach on immigration and softening its climate policies to protect jobs and industry. Parties from around a dozen countries gathered in Florence, galvanised by last month's general elections in the Netherlands, which handed a surprise win to Geert Wilders' anti-immigration Freedom Party (PVV). The far-right Identity and Democracy (ID) group is now the sixth-largest in the EU assembly, also behind liberal, green and conservative groups, but current polling data place it in fourth position. Salvini, who has failed to include in his alliance Prime Minister Giorgia Meloni and her poll-leading Brothers of Italy party, fronted a previous unsuccessful push in 2019 for a far-right breakthrough in EU elections. Wilders hailed Salvini, leader of the League party, as an inspiration and his "number one Italian friend."

Persons: Geert Wilders, Matteo Salvini, Salvini, Giorgia Meloni, Wilders, Tino Chrupalla, Jordan Bardella, righters, Chrupalla, Harald Vilimsky, Vladimir Putin, Chizu Organizations: European Union, Party, League, Marine, Austrian Freedom Party, Thomson Locations: Italy, European, Florence, galvanised, Netherlands, Europe, Germany, Africa, Austrian, Russia, Ukraine, Israel

☆ ‘I have frozen my penis,’ says Swedish cross-country skier Calle Halfvarsson after racing in icy temperatures
▼ + stars: | 2023-11-27 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Swedish cross-country skier Calle Halfvarsson experienced an unusual but not unheard-of consequence of competing in icy temperatures in Finland at the weekend. After taking part in the 20-kilometer World Cup event in Ruka, Halfvarsson said that he had to take shelter in the warmth after sustaining a frozen penis. According to Reuters, temperatures dropped to a chilly five degrees Farenheit (-15 degrees Celsius) at the start of the race. For real,” Halfvarsson told Swedish outlet Expressen. Leindholm, like Halfvarsson, had also previously experienced a frozen penis while competing in Ruka.

Persons: Halfvarsson, ” Halfvarsson, it’s, Jan Thomas Jenssen, Michel Novák, Harald Østberg Amundsen, Finland’s Remi Leindholm, ” Prince Harry, Kate Middleton Organizations: CNN, Calle, Expressen, Ruka Locations: Swedish, Finland, Ruka, Czech, Beijing

☆ Ford buys EV charging startup in bid to help rescue its electric dreams
▼ + stars: | 2023-11-03 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Ford has bought an electric charging startup called AMP, TechCrunch reported. AdvertisementAdvertisementFord is buying an electric charging startup as it tries to reinvigorate its flagging EV push. The auto giant is purchasing Auto Motive Power (AMP), an electric charging startup that makes battery management software, as it seeks to overhaul its charging technology and reduce the cost of its electric vehicles. A Ford representative told TechCrunch that the deal aimed to accelerate its efforts to encourage EV adoption and improve its charging technology. Other car makers have taken a similarly cautious approach to electric vehicles in recent months, with several ditching ambitious targets amid slowing demand.

Persons: —, Ford, it's, Bill Ford, Harald Wilhelm, Elon, carmaker Organizations: Ford, TechCrunch, Service, Auto Motive, The New York Times, Benz, EV, GM, Subaru Locations: California, Kentucky

☆ Auto execs are coming clean: EVs aren't working
▼ + stars: | 2023-10-26 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +4 min

Dealers have been warning of slowing EV demand for months. While GM's about-face was somewhat of a surprise to investors, the Detroit car company is not alone in this new view of the EV future. Just a few months after dealers have started coming forward to warn of slowing EV demand, manufacturers appear to be catching up to that reality. In July, the company extended its self-imposed deadline to hit annual electric vehicle production of 600,000 by a year, and abandoned a 2026 target to build 2 million EVs . In scrapping plans with GM to co-develop sub-$30,000 EVs, Honda CEO Toshihiro Mibe said the shifting EV environment was difficult to gauge.

Persons: Mercedes, —, Mary Barra, Bolt, GM doesn't, Tesla's Elon Musk, Harald Wilhelm, Mercedes isn't, Ford, Toshihiro Mibe, Mibe Organizations: EV, Dealers, Service, GM, Barra, Benz, Honda, Bloomberg Locations: Detroit

The company on Thursday reported a 12.4% adjusted return on sales in its cars division in the third quarter. Mercedes-Benz described the market environment as "subdued", but Wilhelm said "we are beyond the worst" when it comes to inflation and energy pricing. Mercedes-Benz earlier this month reported a 4% drop in overall third-quarter sales, with top-end sales down 11%, partly caused by model changeovers and a shortage in 48-volt systems supplied by Bosch. Car revenue dipped 3.8% due to the fall in deliveries, but the average selling price remained stable, the company said. ($1 = 0.9485 euros)Reporting by Victoria Waldersee; Editing by Rachel More, Jacqueline Wong and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, BEV, Harald Wilhelm, Wilhelm, Mercedes, Tesla, Victoria Waldersee, Rachel More, Jacqueline Wong, Jan Harvey Organizations: Mercedes, Benz, Japan, REUTERS, EV, BMW, VW, Ford, Porsche, Bosch, Thomson Locations: Tokyo, Japan, BERLIN, Germany, United States, China, stoke

☆ Mercedes-Benz shares fall 6% as profit falls; CFO bemoans 'brutal' EV pricing
▼ + stars: | 2023-10-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Mercedes-Benz shares were sharply lower Thursday after the German carmaker reported a decline in profit and revenue as challenges from electrical vehicle competition to supply chains. On an analyst call regarding the results, Chief Financial Officer Harald Wilhelm described the EV market as a "pretty brutal space," Reuters reported. "I can hardly imagine the current status quo is fully sustainable for everybody," Wilhelm said, according to the news agency. Group earnings before interest and taxes (EBIT) fell 7% to 4.8 billion euros ($5.06 billion) in the third quarter. Revenue was down 1.4% to 37.2 billion euros, below the consensus estimate, as passenger car sales dropped 5%, partially due to supply chain challenges.

Persons: Harald Wilhelm, Wilhelm Organizations: Mercedes, Benz, Reuters, Revenue Locations: Brussels, Belgium, Frankfurt, London, EVs

Magnus Mæland, the municipality mayor, then angrily removed the Russian wreath — only to have a woman, described by Norwegian public broadcaster NRK as being Russian, put it back. In 2019, on the 75th anniversary, Russia’s Foreign Minister Sergei Lavrov laid wreaths at the monument and stood side-by-side with Norway’s foreign minister. On Saturday, Konygin gave a speech at the war memorial in the same Norwegian border town. Visiting locals from the Russian border town of Nikel faced the diplomat while residents from Kirkenes silently turned their back to him, according to the online outlet the Barents Observer. Locals had already placed a wreath at the monument before Konygin arrived, with the text “to our Ukrainian heroes from 1944 and 2022," according to the Barents Observer.

Persons: Magnus Mæland, ” Mæland, Marit Bjerkeng, Harald Sunde, Sergei Lavrov, Nikolai Konygin, Konygin Organizations: NRK, Russia’s, Observer, Locals, Barents Observer, Soviet Union Locations: COPENHAGEN, Denmark, Russian, Kirkenes, Norway, Soviet, Norwegian, Russia, Ukraine, Nazi Germany, Nikel

☆ Review: Ballet Theater Revisits Its Past With a Hit and Two Misses
▼ + stars: | 2023-10-19 | by ( Gia Kourlas | More About Gia Kourlas | ) www.nytimes.com time to read: +1 min

American Ballet Theater opened its fall season on a high note: Alexei Ratmansky’s “Piano Concerto No. The program, part of the first New York season created by the company’s artistic director, Susan Jaffe, gradually lost steam. “Petite Mort” (1991) is flimsier than ever. Devon Teuscher’s clean, classical elegance lent the overlong work a boost of grace and energy, but the ballet, created in 1948, is hardly a good time capsule. In a program note, Lander describes his ballet as “an expression of myself, and of my thoughts on dance.

Persons: Alexei Ratmansky’s “, Mort ”, Jiri Kylian, Harald Lander, Susan Jaffe, Devon Teuscher’s, George Balanchine’s, Frederick Ashton’s “, ”, “, Lander Organizations: Ballet Theater, New, Lincoln Center Locations: New York

”It was a very strong moment for us — emotionally charged,” activist Ella Marie Hætta Isaksen told the VG newspaper after the meeting with King Harald and Crown Prince Haakon at the royal palace in Oslo. The activists say a transition to green energy shouldn’t come at the expense of the rights of Indigenous people. They have protested several times since the Supreme Court of Norway ruled in October 2021 that the construction of the turbines had violated the rights of the Sami, who have used the land for reindeer for centuries. They had asked for the meeting with the Norway's monarch, who has a ceremonial role as the country's head of state. The palace confirmed the meeting took place and “they presented their view" to the monarch and his son.

Persons: Ella Marie Hætta Isaksen, King Harald, Crown Prince Haakon, ”, Elle Nystad, Sami, Jonas Gahr Støre Organizations: VG, Ministry of Petroleum, Energy Locations: COPENHAGEN, Denmark, Norway, Norwegian, Oslo, “, Norway’s Fosen, Fosen

☆ Runestones from Denmark praising a Viking queen hint at her power
▼ + stars: | 2023-10-13 | by ( Mindy Weisberger | ) edition.cnn.com time to read: +6 min

Both Jelling runestones also named a royal figure: Queen Thyra, mother of then-reigning King Harald Bluetooth. In recent years, archaeologists have revised prior interpretations of Viking warrior burials as exclusively male, finding that Viking women were fighters, too. The new findings add to the picture of influential Viking women holding prominent roles in statecraft as well as on the battlefield. Fewer than 10 runestones in Denmark from the pre-Christian era mention women at all — and four of those are of Queen Thyra. “Runestones in Denmark were mostly erected in honour of men, but Thyra is commemorated on more runestones than any other person in Viking Age Denmark,” Imer said.

Persons: CNN —, —, Thyra, “, ”, Katherine Cross, ” Cross, King Harald Bluetooth, King Gorm, Harald, Lisbeth, Imer, ” Imer, Queen Thyra, ” Mindy Weisberger Organizations: CNN, telltale, John University, National Museum of Denmark, Museum of, National Museum of, Scientific Locations: Denmark, Sweden, York, Europe, Jelling, Copenhagen, Museum of Denmark, National Museum of Denmark, dak, DAK, statecraft, Viking

STAVANGER, Norway (AP) — The Norwegian king’s eldest child, Princess Märtha Louise, will marry her Hollywood partner, the self-professed shaman Durek Verrett, next summer, the couple announced Wednesday. The Norwegian princess can trace her ancestry back to Britain’s Queen Victoria. The couple, who toured the country in 2019 as “The Princess and The Shaman,” have created waves in Norway with their alternative beliefs. The wedding will take place on Aug. 24 in Geiranger, prized for its typical Norwegian scenery among mountains and fjords. Although Princess Märtha Louise is the first child of King Harald V, her brother, Crown Prince Haakon, who is two years younger than her, will succeed his father as king.

Persons: Princess Märtha Louise, Durek Verrett, King Harald V, “, ” Verret, Victoria, Märtha Louise, Norway’s, Crown Prince Haakon, wasn't, Haakon, Princess Ingrid Alexandra, ___ Jan M, Olsen Organizations: NRK Locations: STAVANGER, Norway, Norwegian, California, Geiranger, Bergen, Copenhagen, Denmark

☆ The discussion around renewable energy shouldn't be centered around cost, says B.Grimm Chairman
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe discussion around renewable energy shouldn't be centered around cost, says B.Grimm ChairmanHarald Link, chairman of the Thai conglomerate discusses the energy transition and why he thinks it is more important to focus on the "total system" rather than the upfront costs associated with renewable energy sources.

Persons: Harald Link

☆ South Korea should maintain current monetary, fiscal policies, IMF says
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsSEOUL, Sept 6 (Reuters) - South Korea should maintain current, restrictive monetary and fiscal policies as it needs to take steps to return to sustainable finances and address inflation, the International Monetary Fund (IMF) said on Wednesday. Instead of undermining economic growth, the prudent fiscal policy is judged to be instrumental in keeping South Korea's economic fundamentals strong in the medium term, Finger said at a press conference. Finger told reporters the IMF decided not to evaluate South Korea's foreign exchange reserve adequacy based on its Assessing Reserve Adequacy (ARA) metrics from July. The measure is mostly for emerging economies, and given its economic characteristics, it is more appropriate to assess South Korea's on a scenario basis, Finger said.

Persons: Yuri Gripas, Harald Finger, Finger, China's, Cynthia Kim, Jihoon Lee, Jacqueline Wong, Christopher Cushing Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, South Korean, Bank of Korea, IMF, Thomson Locations: Washington , U.S, Rights SEOUL, South Korea, Korea

☆ German arms maker Diehl to ramp up production of IRIS-T air defence system
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

TODENDORF, Germany, Sept 5 (Reuters) - German arms maker Diehl Defence aims to significantly ramp up the production of its IRIS-T air defence system to satisfy growing demand due to Russia's war on Ukraine, Chief Program Officer Harald Buschek said on Tuesday. Germany so far has supplied two IRIS-T units to Ukraine, where they are mainly used to guard Kyiv against Russian missile attacks. Buschek said Ukraine had shot down more than 110 targets, most of these cruise missiles such as the Kalibr, with a hit rate of almost 100%. The system successfully countered an attack on Kyiv by a swarm of 13 Russian cruise missiles at the start of the year, intercepting all missiles, Buschek said. In the small town of Todendorf, Berlin will host the training of partner nations on the modern IRIS-T air defence system, one of the most coveted weapons that Kyiv has received from the West.

Persons: Harald Buschek, Berlin, Buschek, Sabine Siebold, Friederike Heine, Miranda Murray, Jason Neely Organizations: Diehl Defence, IRIS, Kyiv, Russian, NATO, Thomson Locations: TODENDORF, Germany, Ukraine, Todendorf, Kyiv, Russian, Berlin, Moscow, Russia, Estonia, Latvia

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