DIRS.INFO The most relevant business & tech news

☆ European markets mixed as tech stocks sink 2% on weak U.S. earnings
▼ + stars: | 2023-07-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were muted on Thursday as investors assessed the implications of some big U.S. corporate results and the start of earnings season at home. The pan-European Stoxx 600 hovered around the flatline in early trade, with tech stocks shedding 2.4% to lead losses on the back of weak U.S. earinings, while mining stocks added 1.4%. Markets in Asia-Pacific were mixed overnight as investors digested a slew of economic data across the region. Japan's Nikkei 225 led losses after the country posted a surprise trade surplus of 43 billion yen ($308 million), its first surplus in 23 months. Stateside, Nasdaq 100 futures slid in after-hours trading Wednesday evening as shares of Netflix sank after the company missed second-quarter earnings expectations.

Persons: Tesla, Elon Musk Organizations: Nikkei, Nasdaq, Netflix, Sweden's Volvo, SAP, France's, Nokia, ABB, Givaudan Locations: Asia, Pacific, Europe, France's Publicis

☆ Swedish embassy in Baghdad stormed, set alight over Quran burning plans
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: +2 min

Supporters of Iraqi Shiite cleric Moqtada al-Sadr gather for a protest outside the Swedish embassy in Baghdad on July 20, 2023. Hundreds of protesters stormed the Swedish embassy in central Baghdad early on Thursday, scaling its walls and setting it ablaze in protest against the expected burning of a Quran in Sweden. Swedish Foreign Minister Tobias Billstrom said embassy staff were safe but that Iraqi authorities had failed in their responsibility to protect the embassy in accordance with the Vienna Convention. Swedish police denied several applications earlier this year for protests that were set to include burning the Quran, citing security concerns. "Yes, yes to the Quran," protesters chanted.

Persons: Moqtada al, Sadr, Tobias Billstrom, Muqtada Sadr, STT Organizations: Swedish, Vienna Convention, TT, Telegram Locations: Swedish, Baghdad, Sweden, Vienna, Finnish, Stockholm, Iraqi

☆ Air forces are ditching runways to prepare their jets to keep operating when enemies aim for their bases
▼ + stars: | 2023-07-19 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

It is meant to be a test of the British air force's ability to operate away from its main bases. Some air forces moved away from that capability after the Cold War and now have to train for it again. US Air Force/Senior Airman Jonathan Valdes MontijoThe US military has also been planning distributed air operations from unconventional airfields and runways. When done correctly, ACE "complicates the enemy's targeting process, creates political and operational dilemmas for the enemy, and creates flexibility for friendly forces," according to the Air Force's ACE doctrine. Gen. James Hecker, the head of US Air Forces in Europe, said last year that his command was sending airmen to study the Swedish approach.

Persons: Jon Hobley, Air Marshal Harvey Smyth, Smyth, Janis Laizans, Sweden's JAS, Jonathan Valdes Montijo, Phil Speck, James Hecker, " Hecker, Janes, Stavros Atlamazoglou Organizations: Service, Royal Air Force Eurofighter, FGR4, Coningsby, Getty, NATO, Britain's Royal Air Force, Air, Aviation, RAF, REUTERS, US Air Force, Marine Corps, Agile, US Air National Guard, Air Force, Aircraft, US Air Forces, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: Wall, Silicon, Ukraine, London, Finland, Finnish, Russia, Sweden, Guam, Estonia, Wyoming, Europe, Swedish, Johns

Swedish Foreign Minister Tobias Billstrom said staff at the Swedish embassy in Baghdad were safe but Iraqi authorities had failed in their responsibility to protect the embassy. Thursday's demonstration was called by supporters of Shi'ite cleric Muqtada al-Sadr to protest at the second planned Koran burning in Sweden in weeks, according to posts in a Telegram group linked to the influential cleric and other pro-Sadr media. He stood by the embassy storming on Thursday, telling a press conference the U.S. "has no right to condemn the burning of the Swedish embassy but should have condemned the burning of the Koran". "Yes, yes to the Koran," protesters chanted. Sweden has seen several Koran burnings in recent years, mostly by far-right and anti-Muslim activists.

Persons: Tobias Billstrom, Sayyed Hassan Nasrallah, Mohammed Shia Al, Billstrom, Muqtada al, Moqtada al, Read, Tayyip Erdogan, Ulf Kristersson, Timour Azhari, Anna Ringstrom, Supantha Mukherjee, Johan Ahlander, Marie, Louise Breusch Rasmussen, Ahmed Rasheed, Tom Hogue, Tom Perry, Lincoln, Bernadette Baum, William Maclean, Alison Williams, Cynthia Osterman Organizations: NATO, Sweden's Ericsson, State Department, Telegram, Turkish, Sweden's, Islam, Marie Mannes, Thomson Locations: Iraq, BAGHDAD, STOCKHOLM, Swedish, Stockholm, Baghdad, Iraqi, Sweden, Tehran, Turkey, Washington, Sadr, Copenhagen

Swedish news agency TT reported on Wednesday that Swedish police granted an application for a public meeting outside the Iraqi embassy in Stockholm on Thursday. "Yes, yes to the Koran," protesters chanted. [1/5]Protesters clash with security forces members as they gather near the Swedish embassy in Baghdad hours after the embassy was stormed and set on fire ahead of an expected Koran burning in Stockholm, in Baghdad, Iraq, July 20, 2023. Late last month, Sadr called for protests against Sweden and the expulsion of the Swedish ambassador after the Koran burning in Stockholm by an Iraqi man. Two major protests took place outside of the Swedish embassy in Baghdad in the aftermath of that Koran burning, with protesters breaching the embassy grounds on one occasion.

Persons: Muqtada Sadr, Baghdad's, Ahmed Saad, Sadr, Timour Azhari, Anna Ringstrom, Tom Hogue Organizations: Telegram, REUTERS, Sweden, United Arab, United, Thomson Locations: BAGHDAD, STOCKHOLM, Swedish, Baghdad, Sweden, Stockholm, Iraq, Iraqi, Turkey, United Arab Emirates, Jordan, Morocco, United States, Lincoln

LONDON, July 18 (Reuters) - The spectre of rising corporate debt defaults exacerbating a global economic slowdown has for months been largely brushed aside by resilient credit markets. Now, long-feared corporate debt woes are starting to hit home, while more companies are being downgraded to a junk credit rating - facing higher borrowing costs as a result. Retailer Casino, with 6.4 billion euros ($7.19 billion) of net debt, is in court-backed talks with creditors; Britain's Thames Water is in the headlines with its 14 billion pound ($18.32 billion) debt pile. For FACTBOX: Corporate debt woes are on the rise, click here. Nonetheless, not all firms may be able to survive the challenges of vast debt, higher interest and business costs and declining profits.

Persons: Julius Baer's, Markus Allenspach, Guy Miller, Miller, it's, Aymen Mahmoud, McDermott Will, Emery, Elena Lieskovska, Chiara Elisei, Dhara, Christina Fincher Organizations: SBB, P Global, U.S, Reuters, ICE, Zurich Insurance, ABN AMRO, European Central Bank, London Finance, Bain Capital, Thomson Locations: Swedish, Spain, Europe

☆ Factbox: Corporate debt woes are on the rise
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +4 min

Size of debt: 14 billion pounds ($18.33 billion). The firm said earlier in July shareholders would provide 750 million pounds, but warned it would need an extra 2.5 billion pounds between 2025-2030. Size of debt: 6.4 billion euros ($7.19 billion) in net debt. What's at stake: Casino faces 3 billion euros of debt repayments in the next two years, with rating agencies Moody's and Standard & Poor's warning a default is likely. Deadlines to watch: Casino aims to secure an agreement with creditors by July 27.

Persons: Toby Melville, What's, Jean, Charles Naouri, Casino, Daniel Kretinsky, Kretinsky, Chiara Elisei, Dhara, Christina Fincher Organizations: Thames, REUTERS, Water, Casino, SBB, Thomson Locations: London, Britain, LONDON, Sweden, France, England, Czech, Brookfield, Spain, Barcelona

☆ NATO's northernmost members are preparing for an undersea showdown with Russia
▼ + stars: | 2023-07-18 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +8 min

NATO navies worry about those subs and they've increased their focus on countering undersea threats. Nordic navies are investing in their own submarine fleets to keep track of Russia's boats. A particular concern for the alliance is Russia's submarines, many of which are assigned to those two fleets. The potential threat from Russia's undersea forces has prompted its neighbors to reevaluate their own submarine needs. But Sweden's western neighbors, Norway and Denmark, both see a need for bigger sub fleets.

Persons: Christopher Cavoli, OLGA MALTSEVA, Ronald Reagan, Fredrik Linden, Petty, Marlowe Dix, Michael Aastrup Jensen, Aastrup Jensen, HENRIK MONTGOMERY, Eirik Kristoffersen, Kristoffersen, Constantine Atlamazoglou Organizations: NATO, Nordic, Service, Baltic, US, Command, Allied, Getty, North Atlantic, Baltic Fleet, Navy, Submarine, Reuters, Naval, Norfolk, US Navy, Hudson Institute, Getty Images, Submarines, Armed Forces, Fletcher School of Law, LinkedIn, Twitter Locations: Ukraine, Wall, Silicon, Nordic, Gulf of Finland, St . Petersburg, AFP, Finland, North, Russia's, Kaliningrad, Russia, Baltic, Sweden, Swedish, Gotland, Blekinge, Navy Gotland, Sweden's, Norwegian Ula, Norway, Denmark, Danish, Ula, Oslo, Swedish Gotland, Halland, Stockholm

☆ 4 major fighter-jet deals could reshape the Middle East's biggest militaries for decades to come
▼ + stars: | 2023-07-16 | by ( Paul Iddon | ) www.businessinsider.com time to read: +11 min

Middle Eastern countries have for decades been major buyers of advanced fighter jets. Four potential deals involving Turkey, Iraq, Iran, and Egypt show that the trend will continue. Four looming acquisitions by Turkey, Iraq, Iran, and Egypt show that this trend will not change any time soon. Egypt's EaglesEgyptian Air Force MiG-29s during an exercise in Sudan in May 2021. While the Russian jets couldn't exchange data with Egypt's US-made aircraft, Cairo hoped they could operate as an "air force within an air force" and partially redress its limited air-to-air capabilities.

Persons: Cuneyt, MURAD, Erdogan, Mehmet Kaman, Recep Tayyip Erdogan's, Biden, Sen, Bob Menendez, hasn't, Iran's, Vladimir Putin, Ebrahim Raisi, ALEXANDR DEMYANCHUK, it's, —, Iran hasn't, ATTA KENARE, Mohammed Reza Ashtiani, Iraq's, KARIM SAHIB, Saddam Hussein's, Ali Mohammed, KARI, ASHRAF SHAZLY, Derek Seifert, Frank McKenzie, Israel, Paul Iddon Organizations: Service, United Arab Emirates, Dassault Rafales, Dassault, Vipers, NATO Air Policing, Anadolu Agency, Getty, US, Turkish Aerospace Industries, Getty Images, NATO, Senate Foreign Relations, SPUTNIK, Army Day, Iranian Parliament's National Security, Foreign, Iranian Defense, Rafale, ISIS, Getty Images Iraq, Thales Ground, AIM, Meteor, Egypt's Eagles Egyptian Air Force, Eagles, US Air Force, US Central Command Locations: Turkey, Iraq, Iran, Egypt, Wall, Silicon, Saudi Arabia, Israel, Poland, Ankara, Syria, Greece, Samarkand, Getty Images Iran, Russia, Ukraine, Moscow, Soviet, US, Tehran, AFP, Iranian, Persian, Baghdad, France, South Korea, Czech, Iraqi, Balad, Sudan, Qatar, Cairo, Derek Seifert Egypt

☆ Tumbling US dollar a boon to risk assets across the globe
▼ + stars: | 2023-07-14 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

NEW YORK, July 14 (Reuters) - Cooling U.S. inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit. Because the dollar is a linchpin of the global financial system, a wide range of assets stand to benefit if it continues falling. Raw materials, which are priced in dollars, become more affordable to foreign buyers when the dollar declines. "For markets, the weaker dollar and its underlying driver, weaker inflation, is a balm for everything, especially for assets outside the U.S.," said Alvise Marino, foreign exchange strategist at Credit Suisse. Reuters GraphicsIn the world of monetary policy, the dollar's decline may be a relief to some countries, as it removes the urgency for them to support their falling currencies.

Persons: Russell, Alvise Marino, Karl Schamotta, Paresh Upadhyaya, Upadhyaya, Kenneth Broux, Helen, pare, it's, Saqib Iqbal Ahmed, Dhara Ranasinghe, Ira Iosebashvili, Leslie Adler Organizations: YORK, U.S, Federal Reserve, Investment, Goldman Sachs, Credit Suisse, Treasury, Fed, Colombian, Kazakhstan tenge, Uruguayan, Reuters Graphics, Traders, Generale, stoke, Monex USA, Thomson Locations: U.S, Polish, Corpay, Kazakhstan, Japan, Swedish

Now it is at the epicentre of a property crash that threatens to engulf the Nordic state's economy. It has said it plans on selling roughly 6 billion Swedish crowns worth of assets this year. Speculators are betting that the stock price has further to fall. SBB shares are subject to more short-selling - a bet that the stock price will drop - than any other Swedish company, according to data from the financial regulator. "If, on the other hand, the SBB will be bought up, then the small shareholders will probably lose everything."

Persons: Maria De Geer, who've, Ilija Batljan, Batljan, Robert Bergqvist, SEB, Leiv Synnes, pare, De Geer, Pablo Mayo, Elaine Hardcastle Organizations: SBB, Swedish Shareholders Association, Organisation for Economic Cooperation, Development, Asset Management, SBB Treasury Oyj, Reuters, Thomson Locations: STOCKHOLM, FRANKFURT, Sweden, Swedish, Cerqueiro, London

Those export controls, which "were imposed for important reasons," remain in place, Canadian Prime Minister Justin Trudeau's office said in statement. "The Prime Minister discussed Sweden's accession to NATO with our partners in Vilnius, including with President Erdogan," the statement said. Ahead of the NATO summit, Turkey, already seeking assurances over the F-16s in talks with Washington, asked that Canada's export controls also be rolled in to the final discussion, the person familiar with the talks said. At Vilnius, Canada outlined its position to Turkey on rules regarding uses of any exported technologies, and was awaiting a response. This means the talks on export controls are no longer frozen, a move that helped play a role sealing Erdogan's pledge over Sweden, the person said.

Persons: Erdogan, Tayyip Erdogan's greenlight, Justin Trudeau's, Joe Biden, Devlet Bahceli, We've, Huseyin Hayatsever, Jonathan Spicer, Steve Scherer, John Irish, Tom Perry, Jamie Freed Organizations: NATO, Atlantic, Organization, Canada, Canadian, Washington, U.S, Kurdistan Workers Party, European Union, Nationalist Movement Party, Erdogan's, Thomson Locations: Turkey, Erdogan, ANKARA, Canada, Ankara, Sweden, Stockholm, Vilnius, Washington, United States, Armenia, Nagorno, Karabakh, Finland, Turkish, Ukraine, Turkey's, Helsinki, European, Istanbul, Ottawa

☆ A US Green Beret drill with fake guerrilla fighters shows how Sweden has been preparing for an 'unconventional' clash with Russia
▼ + stars: | 2023-07-13 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +8 min

In May and June, US Army Green Berets conducted unconventional warfare training in Sweden. In the US military, unconventional warfare is the bread and butter of the Green Berets of US Army Special Forces. Winning wars unconventionallyUS Army Green Berets demonstrate detainment procedures during training in Kalix, Sweden on May 29. Unconventional warfare can still play an important role in that kind of war, but it would be a supporting role. Cadets talk to role-players during West Point Irregular Warfare Group's Unconventional Warfare Exercise in April 2019.

Persons: Anthony Bryant, Patrik Orcutt, Anthony Bryant Sweden, refocusing, Erwin Rommel, Stavros Atlamazoglou Organizations: US Army Green Berets, Service, NATO, US Green Berets, Swedish Home Guard, US Army, Staff, Green Berets, US Army Special Forces, US Army Special Operations Command, Green, US Special Forces, 10th Special Forces Group, Sweden's, Guard, Home Guard, Operations Command, Green Beret, US Army Green, EU, Army Green Berets, Pentagon, Al, Delta Force, US Military, British Special Air Service, Commonwealth, Group, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: Sweden, Soviet Union, Russia, Wall, Silicon, Kalix, Europe, Soviet, Swedish, Stockholm, Al Qaeda, China, North Africa, Ukraine, Ukrainian, Johns

☆ CNBC Daily Open: Red hot tech
▼ + stars: | 2023-07-12 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange during morning trading on July 06, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Energy stocks led Wall Street gainsU.S. stocks rose for a second session Tuesday, with energy stocks the leading advancers in the S&P 500 as WTI crude rose to its highest level since May 1. [PRO] Goldman's bullish on XpengGoldman Sachs initiated coverage of Xpeng with a buy rating, seeing nearly 30% upside for the Chinese electric-vehicle maker.

Persons: Warren, Temasek's, Lina Khan's, Recep Tayyip Erdoğan, Xpeng Goldman Sachs Organizations: New York Stock Exchange, CNBC, Energy, Wall Street, Traders, Dow Jones Industrial, Buffett, Temasek, Federal Trade, Microsoft, Activision Blizzard, NATO, EU Locations: New York City, Berkshire, U.S, Temasek, India, Southeast Asia, EU, Turkey, Sweden

☆ Biden welcomes Finland to NATO ahead of summit with Nordic leaders
▼ + stars: | 2023-07-12 | by ( Steve Holland | ) www.reuters.com time to read: +3 min

Biden travelled to Finland, which shares a border with Russia, straight from this week's NATO talks in Vilnius, Lithuania to participate in a U.S.-Nordic summit with the leaders of Finland, Sweden, Denmark, Iceland and Norway. He will also hold a joint news conference with Finland's President Sauli Niinisto before heading back to Washington. Ahead of a bilateral meeting with Niinisto, Biden hailed Finland's as an "incredible asset" to the NATO military alliance. Niinisto said Finland's NATO membership heralded "a new era in our security", and applauded Biden for "creating unity" at the Vilnius summit which focused on uniting behind Ukraine. At this week's NATO summit, Biden described Finland and Sweden's push to join NATO as evidence Putin's "craven lust for land and power" had backfired, only serving to strengthen the military alliance.

Persons: Joe Biden disembarks, Finland Sauli, Joe Biden, Vladimir Putin, Biden, Sauli Niinisto, Niinisto, Finland's, Tayyip Erdogan, craven, Volodymyr Zelenskiy, Donald Trump, Putin, Steve Holland, Essi, Heather Timmons, Rosalba O'Brien, Emma Rumney Organizations: Air Force, United, Nordic, Summit, Read, NATO, Finland's, Russia, White, Ankara, White House, Thomson Locations: Helsinki, Vantaa, Finland, HELSINKI, Russia, Vilnius, Lithuania, U.S, Sweden, Denmark, Iceland, Norway, Washington, Soviet, Ukraine, Turkey

☆ Incoming NATO member Sweden has a military built for 'one thing, and one thing only: fighting Russia,' says expert
▼ + stars: | 2023-07-12 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Sweden is set to join NATO, a blow to Putin who considers the military alliance a threat to Russia. Sweden's military is built for one thing: fighting Russia, expert Robert Clark wrote in The Telegraph. Robert Clark, the director of defense and security for UK think tank Civitas and a British veteran, said that Sweden's "military is built for one thing, and one thing only: fighting Russia." He outlined the ways that Sweden's military being part of NATO is likely bad news for Russia. And with Sweden in NATO, every country in the Arctic would be in the alliance apart from Russia, he added.

Persons: Putin, Robert Clark, Vladimir Putin, —, Clark, Carl Bildt, Recep Tayyip Erdogan Organizations: NATO, The, Service, Sweden —, Google, Financial Times Locations: Sweden, Russia, The Telegraph, Wall, Silicon, British, NATO, Turkey, Ukraine, Finland, Northern Europe, Baltic, Russian, Iceland, Norway, Denmark, Canada, Swedish, Hungary

☆ Sweden's military will bring 'substantial capacities' to NATO, foreign minister says
▼ + stars: | 2023-07-12 | 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 EmailSweden's military will bring 'substantial capacities' to NATO, foreign minister saysTobias Billström, Sweden's minister for foreign affairs, explains his country's decision to join the military alliance.

Persons: Tobias Billström Organizations: NATO

☆ Putin went to war for 'less NATO,' military alliance chief says — and that's backfired
▼ + stars: | 2023-07-11 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

NATO Secretary-General Jens Stoltenberg at the NATO Summit in Vilnius, Lithuania, on July 11, 2023. "[Putin] went to war because he wanted less NATO. He's getting more NATO," Stoltenberg told reporters on Tuesday at the start of the NATO summit in Vilnius, Lithuania. watch nowStoltenberg's comments come after Turkey on Monday agreed to back Sweden's accession bid into the NATO alliance, after withholding its endorsement for over a year. Stoltenberg has confirmed that Zelenskyy will be attending the NATO summit.

Persons: Jens Stoltenberg, Vladimir Putin, Putin, Stoltenberg, Ankara's, Volodymyr Zelenskyy Organizations: NATO, Bloomberg, Getty, Sweden's, He's, European Union, Kyiv, Alliance Locations: Vilnius, Lithuania, Ukraine, Turkey, Moscow, Stockholm, Helsinki, Finland, Bucharest, Georgia, U.S, Russia

☆ Canadian pension fund taps Europe's green hydrogen hopes with Dutch investment
▼ + stars: | 2023-07-11 | by ( Tommy Wilkes | ) www.reuters.com time to read: +3 min

LONDON, July 11 (Reuters) - Canada's biggest pension fund, CPP Investments, has made its first bet on green hydrogen playing a growing role in cutting emissions, with a 130 million euro ($143 million) investment and the purchase of a majority stake in a three-year-old Dutch firm. "Europe is generally seen as the leading industrial market or consumer for these green molecules. Power2X's current projects include a green hydrogen and ammonia development in Portugal and a solar power and green hydrogen project in Spain. Expanding green hydrogen production will require more renewable power generation, and some questions remain over its potential use cases versus other low-emission technologies. Last month Canada's Investment Management Corporation of Ontario announced a $400 million investment in Sweden's battery producer Northvolt.

Persons: Bruce Hogg, CPPI, Hogg, Occo Roelofsen, Tommy Reggiori Wilkes, Conor Humphries Organizations: Investments, Reuters, Investor, McKinsey, Investment Management Corporation of Ontario, Thomson Locations: Amsterdam, Europe, Portugal, Spain, Power2X

Erdogan's ties to Russian President Vladimir Putin have weighed on Turkey's relations with its traditional Western allies for years, along with other factors including concern over his increasingly autocratic rule. "Turkey doesn't want the Turkish-Russian relationship to be badly hurt, but this will inevitably have an impact on relations. Ankara has been important to Moscow as Erdogan has refused to join Western sanctions against Russia over the Ukraine invasion. 'ROSE-TINTED SPECTACLES'The Kremlin said it intended to develop relations with Turkey "despite all the disagreements". In 2009, Cyprus blocked six out of the 35 chapters Turkey must conclude as part of its EU accession negotiations.

Persons: Erdogan, Tayyip Erdogan, Vladimir Putin, Volodymyr Zelenskiy, Dalay, Washington, Biden, Putin, Dmitry Peskov, Peskov, Evren Balta, Orhan Coskun, Tom Perry, Mark Heinrich Our Organizations: NATO Russian, NATO, Western, Analysts, Ukraine, Chatham, VISA, Turkish, Reuters, Kremlin, Russia, European Union, EU, Union, Ozyegin University, Thomson Locations: Sweden, Turkey, Washington, ANKARA, ISTANBUL, U.S, Russia, Ukraine, Ankara, Moscow, Turkish, NATO, Republic of Turkey, Europe, Cyprus

☆ US defense secretary discussed support for Turkish military modernization with counterpart
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: 1 min

July 10 (Reuters) - U.S. Defense Secretary Lloyd Austin discussed support for Turkey's military modernization during a call with his Turkish counterpart, according to a U.S. readout released late on Monday after Turkey said it would back Sweden's NATO accession. Turkey requested in October 2021 to buy $20 billion of Lockheed Martin Corp (LMT.N) F-16 fighters and nearly 80 modernization kits for its existing warplanes. "They ... discussed the positive talks between Turkiye, Sweden, and NATO Secretary General Stoltenberg, as well as the Department of Defense's support for Turkiye's military modernization," the Pentagon said of the phone call between Austin and Turkish Defense Minister Yasar Guler. Reporting by Costas Pitas; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Lloyd Austin, General Stoltenberg, Yasar Guler, Costas Pitas, Himani Sarkar Organizations: . Defense, Turkish, NATO, Lockheed Martin Corp, Department of, Pentagon, Turkish Defense, Thomson Locations: U.S, Turkey, Turkiye, Sweden, Austin

☆ Turkey extracted a slew of concessions for letting Sweden join NATO, including coveted F-16 fighter jets from the US
▼ + stars: | 2023-07-11 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Turkey's president on Tuesday agreed to back Sweden's NATO membership. Hours later, the US said it would move ahead with the transfer of F-16 fighter jets to Turkey. Sweden sought NATO membership in the wake of Russia's war on Ukraine. Turkey's president, Recep Tayyp Erdogan, drove a hard bargain in making his U-turn, and was seemingly rewarded with coveted F-16 fighter jets from the US. Erdogan has also attempted to use the NATO impasse to renew a push for Turkey's membership of the EU.

Persons: Recep Tayyp Erdogan, Jens Stoltenberg, Jake Sullivan, Erdogan, It's, Vladimir Putin, Rich Outzen Organizations: NATO, Service, NATO Allies, US, Brookings Institution, Washington Post, BBC, Erdogan's, Atlantic Council, Turkish Locations: Turkey, Sweden, Ukraine, Wall, Silicon, Vilnius, Lithuania, Baltic, Ankara, Washington, United States, Russia, Stockholm, EU

VILNIUS, July 11 (Reuters) - Washington will move ahead with the transfer of F-16 fighter jets to Turkey in consultation with Congress, U.S. National Security Adviser Jake Sullivan said on Tuesday, a day after Ankara gave the green light for Sweden to join NATO. He intends to move forward with that transfer," Sullivan told reporters, without giving any details on the timing. Both Turkish officials and the Biden administration have rejected any suggestion that Ankara's approval of Sweden's NATO accession was being linked to the F-16 sale in the months of talks to address Turkish opposition. Russian officials said Sweden's expected accession to NATO would have "negative implications" for Russia's security and that Moscow would have to respond. TIMING UNCERTAINThe timing of both the F-16 transfer and Sweden's NATO entry remains unclear.

Persons: Jake Sullivan, Sullivan, Joe Biden, Bob Menendez, Biden, Tayyip Erdogan, Camille Grand, Erdogan, Gerard Araud, Sweden's, Peter Szijjarto, Jens Stoltenberg, Steve Holland, Justyna, John Irish, Nick Macfie, Heather Timmons, Devika Organizations: U.S . National, NATO, Lockheed Martin Corp, Senate Foreign Relations, Democrat, Turkish, European Council, Foreign Relations, Twitter, Kurdistan Workers Party, EU, Monday, Finland's, Nordic, Thomson Locations: VILNIUS, Washington, Turkey, U.S, Ankara, Sweden, Lithuanian, Vilnius, NATO, French, Swedish, United States, Turkey's, Moscow, Hungary, Finland, Ukraine

☆ Erdogan's push for Turkey's EU membership is being met with surprise and skepticism
▼ + stars: | 2023-07-11 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Erdogan surprised many on Monday by linking Sweden's bid to join NATO with his country's accession to the EU. "I was quite surprised he linked this," Maria Demertzis, senior fellow at the Brussels-based think tank Bruegel, told CNBC Tuesday. The EU deemed that Turkey was putting forward a lot of political reforms that actually moved it "further away" from the bloc. One of the policy changes that infuriated the EU was a 2017 referendum that gave Erdogan more executive powers. "He needs money," an EU official, who did not want to be named due to the sensitive nature of the topic told CNBC Tuesday, regarding why Erdogan brought up this issue again now.

Persons: Recep Tayyip Erdoğan, aren't, Erdogan, Maria Demertzis, Erdogan's Organizations: European Union, NATO, EU, CNBC Locations: Turkish, Turkey, Sweden, Brussels, Ankara

Search resuls for: "Eden's"

25 mentions found