DIRS.INFO The most relevant business & tech news

☆ US restricts trade with 42 Chinese entities over Russia military support
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

Mark Schiefelbein/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Oct 6 (Reuters) - The U.S. Commerce Department on Friday added 42 Chinese companies to a government export control list over support for Moscow's military and defense industrial base, including supplying the Russian sector U.S.-origin integrated circuits. Another seven entities from Finland, Germany, India, Turkey, United Arab Emirates and the United Kingdom were also added to the trade export control list. Entity List when Washington deems them a threat to U.S. national security or foreign policy. Suppliers must then be granted generally hard-to-get licenses before shipping goods to entities on the list. The Chinese embassy in Washington did not immediately respond to a request for comment.

Persons: Janet Yellen, Mark Schiefelbein, Export Enforcement Matthew Axelrod, David Shepardson, Karen Freifeld, Mike Stone, Susan Heavey, Andrea Ricci Organizations: Rights, U.S . Commerce Department, United Arab Emirates, Commerce Department, U.S, Export Enforcement, Washington, Thomson Locations: United States, Diaoyutai, Beijing, China, U.S, Finland, Germany, India, Turkey, United Arab, United Kingdom, Russia, Ukraine, Russian, Washington

☆ Russian Foreign Minister Sergey Lavrov says the US is 'directly at war' with Moscow as the White House continues to pledge weapons to Ukraine
▼ + stars: | 2023-09-24 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Russian Foreign Minister Sergey Lavrov said Saturday the US is "directly at war" with Moscow. His statement comes after the White House pledged $600 million in additional aid to Ukraine. The US has pledged more than $100 billion in aid packages to Ukraine since the invasion began. "You can call this whatever you want to call this, but they are directly at war with us. In addition to the extensive aid packages, the US has implemented sanctions against nearly 100 Russian elites, as well as the country's industrial base, financial institutions, and technology suppliers.

Persons: Sergey Lavrov, Abrams, Biden Organizations: Russian, White House, US, Service, CNN, United States Department of Defense, Ukraine's Ministry of Defense, Government of, Russian Federation Locations: Moscow, Ukraine, Wall, Silicon, Russian, United States, Russia

☆ Ukraine to launch joint weapons production with US, Zelenskiy says
▼ + stars: | 2023-09-22 | by ( Olena Harmash | ) www.reuters.com time to read: +2 min

Ukrainian President Volodymyr Zelenskiy meets with U.S. President Joe Biden in the Oval Office of the White House in Washington, September 21, 2023. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsKYIV, Sept 22 (Reuters) - Ukraine and the United States have agreed to launch joint weapons production in a step that will enable Kyiv to start producing air defence systems, President Volodymyr Zelenskiy said on Friday as he wrapped up a visit to the U.S. "And a long-term agreement - we will work together so that Ukraine produces the necessary weapons together with the United States. Zelenskiy said the Ministry for Strategic Industries, which oversees weapons production in Ukraine, had signed cooperation agreements with three associations, uniting over 2,000 defence U.S. companies, on future possible work in Ukraine. The government is also implementing reforms at its main weapons production company - Ukroboronprom - to improve transparency, boost production capacity and enable it to cooperate more actively with Western producers.

Persons: Volodymyr Zelenskiy, Joe Biden, Kevin Lamarque, Zelenskiy, Olena Harmash, Timothy Heritage, Philippa Fletcher Organizations: U.S, White, REUTERS, Rights, Ministry for Strategic Industries, Western, Thomson Locations: Washington, Ukraine, United States, Kyiv, U.S

☆ Morocco's king keeps regal distance even in earthquake crisis
▼ + stars: | 2023-09-15 | by ( Aidan Lewis | ) www.reuters.com time to read: +5 min

Analysts and rights groups say the political class has been largely co-opted, while real power rests with the king and his "Makhzen", or Morocco's old political establishment. The tremor has, however, shown the unevenness of Morocco's economic development. Meanwhile, Forbes ranked the king in 2015 among Africa's richest men, with personal wealth valued at more than $5 billion. The king ordered Almada to donate 1 billion dirhams ($100 million) to an earthquake response fund. While the king has made few appearances since the earthquake, government officials have also kept a low profile.

Persons: King Mohammed VI, Hassan II, isn't, Aboubakr Jamai, Mohammed, Almada, Manar, Aidan Lewis, Edmund Blair Organizations: Royal Armed Forces, American College of, Forbes, Africa's, Thomson Locations: Rabat, Marrakech, Morocco, Africa, France, Tunisia, Egypt, Moroccan, Tangier, Casablanca, Almada, London

Senator Elizabeth Warren (D-MA) speaks to supporters in Memphis, Tennessee, U.S. March 17, 2019. L3 Harris said on July 26 it was informed that the U.S. Federal Trade Commission would not block its $4.7 billion deal for Aerojet Rocketdyne. The letter was signed by Warren, chair of the Senate Armed Services Committee Subcommittee on Personnel, as well as U.S. The lawmakers also requested correspondence between the Pentagon and the companies regarding potential conditions, including how they would be enforced. Reporting by Diane Bartz; additional reporting by Mike Stone; editing by Timothy GardnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Warren, Karen Pulfer Focht, Lloyd Austin, Harris, Warren, L3Harris, William LaPlante, Representatives John Garamendi, Mark Pocan, Diane Bartz, Mike Stone, Timothy Gardner Organizations: Democratic, U.S, REUTERS, Rights, Democrat, L3 Harris Technologies, U.S . Federal Trade Commission, Aerojet, Pentagon, Federal Trade Commission, Senate Armed Services, Representatives, Defense Department, Thomson Locations: Memphis , Tennessee, U.S, Austin

☆ The US is boosting production for artillery crucial to Ukraine's forces as it struggles to keep up with Russia's war machine
▼ + stars: | 2023-09-15 | by ( Jake Epstein | Erin Snodgrass | ) www.businessinsider.com time to read: +8 min

The US is ramping up its artillery production to continue aiding Ukraine and resupply its stockpile. A Pentagon official said the US aims to be producing 100,000 155mm artillery shells by 2025. "But every country struggles with munitions production as war goes on beyond a few months." Western officials, meanwhile, believe Russia is on track to manufacture two million artillery shells a year, the Times reported this week. A Ukrainian soldier carries 155mm shells for M777 artillery at a artillery position in the Donetsk Oblast on August 6, 2023.

Persons: Ukraine's, Mark Cancian, Bill LaPlante, that's, LaPlante, Diego Herrera Carcedo, Technology Douglas Bush, Bush, Cancian, Washington, Biden, sooth, Matt Rourke Organizations: Pentagon, Service, Russia, Artillery, Estonian, New York Times, US Marine Corps, Center for Strategic, Studies, Center, New, New American Security, Anadolu Agency, Getty, US Army, Army, Acquisition, Logistics, Technology, Ukraine, Times, White, Scranton Army, AP Locations: Ukraine, Russia, Wall, Silicon, Washington, Europe, New American, Donetsk Oblast, Kyiv, Ukrainian, Scranton, Pa

☆ Russia's war in Ukraine: live updates
▼ + stars: | 2023-09-14 | by ( Tara Subramaniam | Andrew Raine | ) edition.cnn.com time to read: +2 min

Vladimir Putin and Kim Jong-un visit a construction site of the Angara rocket launch complex on September 13. After a year and a half of high-intensity combat in Ukraine, Russia’s ammunition stocks have been heavily depleted, and US officials warned that North Korea and Russia were mulling potential deals to replenish supplies for Moscow’s war on Ukraine. North Korea has a substantial arsenal on the Korean peninsula. It’s a life-or-death race, with Putin apparently counting on support waning for Ukraine as the US enters a presidential election season. Putin appears to be extending a potential lifeline to Kim, apparently dangling the carrot of access to Russian technology.

Persons: Vladimir Putin, Kim Jong, Stringer, Sergei Shoigu, Russia –, It’s, Putin, Kim, “ Organizations: North, Russian, NATO, Ukraine, North Korea “ Locations: Pyongyang, Ukraine, Korea, Russia, North Korea, Europe

REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Sept 14 (Reuters) - The Biden administration on Thursday imposed sanctions on five Turkish companies and a Turkish national, accusing them of helping Russia evade sanctions and supporting Moscow in its war against Ukraine. The move is part of a bigger package of measures hitting Russia with sanctions on more than 150 targets, including the country's largest carmaker. The U.S. State Department imposed sanctions on Denkar Ship Construction for providing ship repair services to previously designated vessels of a company connected to the Russian Defense Ministry. The U.S. also imposed sanctions on a major local copper producer - Russian Copper Company. The Treasury slapped sanctions on Finland-based logistics firms Siberica Oy and Luminor Oy, accusing them of sending a wide variety of electronics into Russia.

Persons: Joe Biden, Biden, Jonathan Ernst, reconvenes, Wally Adeyemo, we've, Sanayi, Denkar, Ilker Dogruyol, Dogruyol, Tayyip Erdogan, Humeyra Pamuk, Daphne Psaledakis, Polina Devitt, Gleb Stolyarov, Don Durfee, Alexandra Hudson, William Maclean, Paul Simao Organizations: Cancer, White, REUTERS, Rights, Turkish, Ukraine, Reuters, NATO, Treasury, . Treasury Department, U.S . State Department, Denkar, Russian Defense Ministry, State Department, ID Ship Agency, GAZ Group, Russian Copper Company, Siberica, Luminor, U.S, Kurdistan Workers Party, European Union, United, Thomson Locations: Washington , U.S, Russia, Moscow, Turkey, Washington, Ankara, Sweden, United States, Ukraine, Sea, Turkish, U.S, Finland, Kyiv, Hungary, London

☆ Putin and Kim meet in Russia, but what are the main takeaways?
▼ + stars: | 2023-09-14 | by ( Nathan Hodge | ) edition.cnn.com time to read: +4 min

Video Ad Feedback See moment Putin greets Kim at Russian space port 00:46 - Source: CNNAnd there’s potential of something in return for Pyongyang. Kim’s regime is heavily isolated: Multiple rounds of sanctions have targeted North Korea over its nuclear and ballistic missile programs. Even Russia has signed on to North Korean sanctions in the past. So we are still dealing with a major unknown when it comes to a potential technology exchange between North Korea and Russia. The US believes Pyongyang has already been a player in the Ukraine war, providing the Russian mercenary group Wagner with arms.

Persons: Vladimir Putin, Kim Jong, Putin, Kim, ” –, Sergei Shoigu, Russia –, It’s, “, ” Putin, Mort Sahl, Wernher von Braun, Reuters Von, Wagner, Yevgeny Prigozhin Organizations: CNN, North, Vostochny, North Korean, Ukraine, Russian, NATO, North Korea “, Nazi, Reuters Locations: Amur, Russia, Russia’s Far, Pyongyang, Ukraine, Korea, North Korea, England, ”, Russian, Europe

☆ The war in Ukraine is pushing Russia away from its WWII-style artillery strategy, and experts say it's 'a concerning trend'
▼ + stars: | 2023-09-07 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

Russia and Ukraine have relied heavily on artillery to batter each other's forces. AdvertisementAdvertisement"This is a concerning trend, as over time it will likely significantly improve Russian artillery," write the report's authors, Jack Watling and Nick Reynolds. Russian artillery doctrine is still largely based on extensive analysis of World War II data to determine how many shells were needed to achieve a specific effect. REUTERS/Maxim Zmeyev"First, Russian forces lack the ammunition to sustain this volume of fire," the RUSI report said. According to the RUSI report, Russia continues "to rely heavily" on multiple-launch rockets, 120-mm mortars, and "other imprecise systems," and "corner-cutting in the production of its munitions is becoming apparent."

Persons: Jack Watling, Nick Reynolds, ANDREY KRONBERG, —, Stalin, Operation Bagration, Maxim Zmeyev, Andrey Rusov, Katyusha, Michael Peck Organizations: Service, Britain's Royal United Services Institute, Getty, REUTERS, Russian Defense Ministry, Defense, Foreign Policy, Twitter, LinkedIn Locations: Russia, Ukraine, Wall, Silicon, Western, Moscow, Volgograd, AFP, Berlin, Russian, Saratov, US, Soviet, Forbes

Last month, Biden asked Congress to approve $40 billion in additional spending, including $24 billion for Ukraine and other international needs and $16 billion in disaster relief, testing the country's willingness to keep supporting Ukraine during its counteroffensive against Russian invaders. The Republican-majority House is divided, with many Republicans backing the aid but some of the party's farthest-right members calling for an end to the Ukraine assistance. Citing Republican sources, CNN and other news outlets reported that House Speaker Kevin McCarthy is considering legislation including the disaster aid but leaving out the Ukraine funding. The White House issued a statement urging McCarthy to back the supplemental spending request and contrasting him with Senate Republicans. "Like Senate Republicans, Speaker McCarthy should keep his word about government funding," White House spokesperson Andrew Bates said in a statement.

Persons: Julia Nikhinson, Joe Biden's, Biden, Kevin McCarthy, Putin, Chuck Schumer, Vladimir, Mitch McConnell, Antony Blinken, Jake Sullivan, McCarthy, Andrew Bates, Patricia Zengerle, Jeff Mason, Phil Stewart, Idrees Ali, Don Durfee, David Gregorio Our Organizations: U.S . Capitol Police, REUTERS, Rights, U.S, Congress, Ukraine, Republican, Republicans, CNN, Democratic, ., National, White, Thomson Locations: Washington , U.S, Ukraine, U.S, Kyiv

The U.S. Capitol dome is seen from the Russell Senate Office Building on Capitol Hill in Washington, U.S., April 19, 2023. REUTERS/Sarah Silbiger/file Photo Acquire Licensing RightsWASHINGTON, Sept 5 (Reuters) - The Democratic and Republican leaders of the U.S. Senate expressed support for continued assistance for Ukraine on Tuesday, as lawmakers returned to Washington facing a tight deadline for passing spending bills. And this month we'll have the chance to do that with supplemental appropriations for urgent national security and disaster relief priorities," Republican leader Mitch McConnell said. Biden's request for Ukraine aid comes as lawmakers face an Oct. 1 deadline to pass at least a short-term spending bill or face an embarrassing government shutdown. Reporting by Patricia Zengerle, additional reporting by Katharine Jackson; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Silbiger, Joe Biden, Chuck Schumer, Mitch McConnell, Jake Sullivan, Sullivan, they've, Donald Trump, Patricia Zengerle, Katharine Jackson, Grant McCool Organizations: U.S, Russell Senate, REUTERS, Rights, Democratic, Republican, Senate, Ukraine, White, Kyiv, Thomson Locations: Russell, Washington , U.S, Washington, Ukraine

☆ US warns North Korea would ‘pay a price’ for any arms deal with Russia
▼ + stars: | 2023-09-05 | by ( Jessie Yeung | ) edition.cnn.com time to read: +4 min

CNN —US officials have warned North Korea it will “pay a price” if it strikes an arms deal with Russia, after saying that negotiations were “advancing” between the two nations. Sullivan did not elaborate on the potential repercussions for North Korea, which is already under United Nations and US sanctions imposed over Pyongyang’s weapons of mass destruction program. Kirby added that any potential new deals could include “multiple types of munitions” and raw materials from North Korea. The US and its allies are also concerned about the technology North Korea is seeking from Russia in return for weaponry, according to two US officials. North Korea is seeking technology that could advance its satellite and nuclear-powered submarine capabilities, officials said, which could significantly advance Pyongyang’s capabilities in areas the rogue regime has not fully developed.

Persons: Jake Sullivan, Sullivan, North Koreans –, they’re, ” Sullivan, Sergei Shoigu, Adrienne Watson, Kim Jong Un, Kim, Vladimir Putin, “, Putin, Jacquelyn Martin, ”, ’, Wagner, John Kirby, Kirby Organizations: CNN, House, United Nations, North Koreans, National Security Council, ”, North, New York Times, White House, AP, National Security, Korean Locations: North Korea, Russia, Pyongyang, Moscow, Ukraine, North Korean, Russian, Washington, Korea, ”, Iran, South Korea, Japan

☆ US says North Korea will 'pay a price' for any weapons supplies to Russia
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +4 min

Providing weapons to Russia "is not going to reflect well on North Korea and they will pay a price for this in the international community," U.S. national security adviser Jake Sullivan told reporters at the White House. "We will continue to call on North Korea to abide by its public commitments not to supply weapons to Russia that will end up killing Ukrainians," Sullivan said. As Russia's isolation over its war in Ukraine has grown, it has seen increasing value in North Korea, according to political analysts. The United States in August imposed sanctions on three entities it accused of being tied to arms deals between North Korea and Russia. North Korea has conducted six nuclear tests since 2006 and had been testing various missiles over recent years.

Persons: Vladimir Putin, Kim Jong, Alexander Zemlianichenko, Kim Jong Un, Jake Sullivan, Kim, Sullivan, Adrienne Watson, Putin, Dmitry Peskov, Sergei Shoigu, Keir Giles, Andrei Lankov, Trevor Hunnicutt, Andrew Osborn, Heather Timmons, Grant McCool Organizations: REUTERS, WASHINGTON, U.S, White, . National Security, New York Times, Russia's, Chatham House's, Eurasia, Russia, Seoul's Kookmin University, The, China, . Security, Thomson Locations: Vladivostok, Russia, MOSCOW, North Korea, Ukraine, Moscow, Soviet Union, PYONGYANG, Korean, Pyongyang, North, Chatham House's Russia, Russian, Korea, The United States, U.S

Watson did not say when and where a potential meeting between Kim and Putin in Russia might take place. North Korea does not currently have any nuclear-powered submarines, according to an assessment from Nuclear Threat Initiative, a think-tank focused on reducing nuclear threats. Earlier this month, the US Treasury imposed sanctions on three entities it accused of being tied to arms deals between North Korea and Russia. Apart from North Korea, Russia has also received drones and artillery from Iran. These are our neighbors,” Shoigu told reporters, referring to North Korea by its official name.

Persons: Kim Jong, Vladimir Putin, Sergei Shoigu, “, Kim Jong Un, Adrienne Watson, Watson, Kim, Putin, ”, Dmitry Peskov, John Kirby, Wagner, Kirby, ” Kirby, Biden, ” Shoigu, Xi Jinping, Li Zhanshu, China’s, Xi Organizations: CNN, North, National Security, ”, Russian, National Intelligence Service, ” CNN, Korean Central News Agency, Nuclear Threat Initiative, New York Times, Eastern Economic, US, Russian Defense, Democratic People’s, Economic, Communist Party, Group Locations: Russia, Moscow, Ukraine, North Korea, Pyongyang, Russian, Washington, Korea, North, Vladivostok, “, Iran, China, Democratic People’s Republic of Korea, East, Beijing, India

☆ Putin and Kim Jong Un have been trading letters as secret talks on getting North Korean weapons into Russia's hands are 'actively advancing,' White House says
▼ + stars: | 2023-08-30 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

Arms negotiations between Russia and North Korea are "advancing," a White House official said. Several months later, the White House disclosed that Russia had gone as far as to offer food to impoverished North Korea in exchange for military aid. He asserted that the US will take action by sanctioning individuals and entities "working to facilitate arms deals between these two countries." The Biden administration's new warning about Russia's quest for military support on Wednesday comes as Ukrainian forces continue to make slow and steady territorial gains amid their grueling counteroffensive in the eastern and southern regions. Despite criticism and concerns from some in the West about Ukraine's progress, Washington and its NATO allies have asserted their commitment to providing Kyiv with military support.

Persons: Putin, Kim Jong Un, Sergei Shoigu, Vladimir Putin, Kim Jong, John Kirby, Shoigu's, Kirby, Biden, Washington, We're, Bram Janssen, Janet Yellen Organizations: White, Service, Russia, Defense, Artillery, North, National Security, DPRK, Democratic People's, Russia's, Russian, Korean Central News Agency, KCNA, REUTERS, US, Wagner Group, Kremlin, White House, United Nations, AP, US Treasury Department, Slovakian, NATO, Pentagon Locations: Russia, North Korea, Wall, Silicon, Russia North Korea, Moscow, Ukraine, Russian, Pyongyang, North Korean, Korea, Democratic People's Republic of Korea, Iran, DPRK, Washington

It is also the most detailed evidence provided in recent months of Russia’s outreach to North Korea to help fuel its invasion of Ukraine. Earlier this month, the US Treasury sanctioned a sanctions evasion network aimed at supporting arms deals between Russia and North Korea. Kirby also said Russia’s attempts to source weapons from places like Iran and North Korea was a clear signal of Moscow’s distress. Linda Thomas-Greenfield, US ambassador to the United Nations, also accused Russia and North Korea of negotiating an arms deal during a Security Council Stakeout on Wednesday. Iran and North Korea have both denied these claims.

Persons: Biden, Sergei Shoigu’s, Vladimir Putin, Kim Jong Un, John Kirby, “, ” Kirby, Kirby, Russia’s, Linda Thomas, Greenfield, Wagner Organizations: CNN, Russian, North, National Security Council, DPRK, “, US Treasury, United Nations Locations: Russia, North Korea, Ukraine, Pyongyang, Russian, DPRK, Iran, Greenfield , US

☆ US Senator Vance asks US Steel to rule out foreign buyer
▼ + stars: | 2023-08-18 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +2 min

[1/2] Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. Vance on Thursday asked U.S. Steel (CLF.N) to rule out a foreign buyer, in a sign that the emerging bidding war for the iconic steel producer could run into political headwinds. Vance, a Republican, said potential U.S. buyers for the Pittsburgh-based company should have priority because domestic steel production is an important aspect of national security. "It appears to be political grandstanding from somebody out making a name for themselves more than any national security interest, said Spoores, principal analyst at CRU Group. Vance was elected to the Senate in 2022 after winning the endorsement of former President Donald Trump, a Republican who also pushed for greater domestic steel production.

Persons: Lawrence Bryant, J.D, Vance, David Burritt, David Sutherland, Josh Spoores, Spoores, Donald Trump, Bianca Flowers, Andy Sullivan Organizations: Steel, U.S . Steel, U.S . Steel Granite City, REUTERS, Thursday, Republican, . Steel, Reuters, Industry, CRU Group, The United Steelworkers Union, Senate, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, Pittsburgh, Cleveland, Luxembourg, Ohio, Chicago

☆ Ukraine is eating through a key artillery shell, but the US Army has a plan to make hundreds of thousands more each year
▼ + stars: | 2023-08-07 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

The high rate of fire has strained US stockpiles of 155 mm artillery shells that it's sent to Kyiv. But the Army has a plan to boost munitions production from 24,000 to over 80,000 a month. Ukrainian servicemen prepare to fire at Russian positions from a U.S.-supplied M777 howitzer in Kharkiv region, Ukraine, July 14, 2022. In any conflict, critical resources like artillery ammunition may be in high demand, Bush said. That includes more than 2 million 155 mm artillery rounds and nearly 200 howitzers that can be used to fire these munitions.

Persons: it's, Biden, Evgeniy, Technology Douglas Bush, Bush Organizations: Army, Service, Russian, NATO, US Army, Pentagon, AP, Acquisition, Logistics, Technology, Roman, Getty Locations: Ukraine, Kyiv, Wall, Silicon, Washington, White, U.S, Kharkiv region, Ukrainian, Bakhmut, Donetsk Oblast

☆ South Korean defense stocks power ahead as overseas interest grows for weapon systems
▼ + stars: | 2023-08-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

In this handout image released by the South Korean Defense Ministry via Dong-A Daily, a missile is fired during a joint training between the United States and South Korea on June 6, 2022 in East Coast, South Korea. South Korean Defense Ministry | Getty ImagesSouth Korean defense stocks have recorded stellar gains over the past 12 months, with one stock soaring more than 60% as tensions on the Korean Peninsula accelerate. The company manufactures air defense systems, armored fighting vehicles and artillery systems. Escalating tensions in the Korean Peninsula have also kept interest in South Korean weapon platforms high. Tech and industrial baseMorgan Stanley is optimistic about the outlook for the South Korean defense industry.

Persons: Ukraine —, Morgan Stanley, National Defense Mariusz Blaszczak, Maffei, Janes, Youngsoo Han, Kayoung Lee, KAI, Victor Cha, Cha, Yoon Suk Organizations: South Korean Defense Ministry, Getty, Hanhwa Aerospace, Hanhwa Group, Peace Research Institute, The, North, South Korea —, South Korean, K9, Hyundai Rotem, Korea Aerospace Industries, Korean, Poland's, National Defense, Nikkei, NATO, Krauss, South, FA, Samsung Securities, ., Center for Strategic, International, CNBC Locations: United States, South Korea, East Coast , South Korea, Ukraine, South, Stockholm, The U.S, East, Europe, Korean, U.S, Jeju, North Korea, Asia, Russia, Poland, Polish, South Korean, Malaysia, . Tech, Korea

☆ Ukraine's offensive is bearing down on Russian forces, but Chinese artillery could still bail Moscow out
▼ + stars: | 2023-08-02 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

The Russian military relies on artillery to compensate for other battlefield shortcomings. But its heavy use of artillery in Ukraine could outstrip its ability to make new shells and cannons. The commander of Russia's 58th Army in Ukraine was recently relieved after complaining about the state of Russian artillery, including "the lack of counter-battery fire" and "lack of artillery reconnaissance stations." Chinese artillery troops during a live-fire test in Anhui Province in October 2021. Chinese support could mean the difference between victory and defeat for Russia, but salvation from Beijing may be a long time coming.

Persons: Mao, ANDREY KRONBERG, People's Liberation Army —, China's, Vladimir Putin, Xi Jinping, Dmitri Lovetsky, Xi, Beijing hasn't Organizations: Service, War, Artillery, Royal United Services Institute, Getty, Army, Russia, Publishing, People's Liberation Army, Foreign Ministry, Ukraine, Reuters, China's Locations: Ukraine, Russia, Wall, Silicon, Kyiv, Iran, North Korea, China, British, Volgograd, AFP, Moscow, Anhui Province, St . Petersburg, Beijing, Western, Taiwan, Europe, cynically, Central Asia

☆ U.S. to help Australia develop guided missiles by 2025
▼ + stars: | 2023-07-30 | by ( ) www.cnbc.com time to read: +3 min

"We are pursuing several mutually beneficial initiatives with Australia's defence industry, and these include a commitment to help Australia produce guided multiple launch rocket systems... by 2025," Austin told a press conference. Austin and Secretary of State Antony Blinken are in Queensland state for the annual Australia-U.S. The U.S. will help Australia produce guided multiple-launch rocket systems by 2025, Defense Secretary Lloyd Austin said on Saturday, after the two nations' top officials pledged to engage with China but also oppose it if needed. U.S Secretary of State Blinken said "chief" among Saturday's high-profile talks with Australia was a shared commitment to a free and secure Indo-Pacific region. The games, however, were put on hold after an Australian military helicopter participating in the exercises crashed into the ocean, with at least four people onboard feared dead.

Persons: Richard Marles, Penny Wong, Antony Blinken, Defense Lloyd Austin, Austin, Lloyd Austin, Marles, Blinken Organizations: Australian, Defense, Conference, Queensland Government House, Austin, . Ministerial, Labor, U.S, Australia, Talisman Sabre Locations: Brisbane, U.S, Australia, Queensland, China, Taiwan, Australian, Ukraine, Russia, Beijing

☆ US to help Australia develop guided missiles by 2025
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +3 min

SYDNEY, July 29 (Reuters) - The U.S. will help Australia produce guided multiple-launch rocket systems by 2025, Defense Secretary Lloyd Austin said on Saturday, after the two nations' top officials pledged to engage with China but also oppose it if needed. Austin and Secretary of State Antony Blinken are in Queensland state for the annual Australia-U.S. "We are pursuing several mutually beneficial initiatives with Australia's defence industry, and these include a commitment to help Australia produce guided multiple launch rocket systems... by 2025," Austin told a press conference. U.S Secretary of State Blinken said "chief" among Saturday's high-profile talks with Australia was a shared commitment to a free and secure Indo-Pacific region. The games, however, were put on hold after an Australian military helicopter participating in the exercises crashed into the ocean, with at least four people onboard feared dead.

Persons: Lloyd Austin, Antony Blinken, Austin, Richard Marles, Marles, Blinken, Praveen Menon, Sam McKeith, William Mallard Organizations: SYDNEY, Austin, . Ministerial, Australian, Labor, U.S, Australia, Talisman Sabre, Thomson Locations: U.S, Australia, China, Queensland, Taiwan, Australian, Ukraine, Russia, Beijing

☆ Australia says it is 'confident' on US nuclear submarines as ministers meet
▼ + stars: | 2023-07-28 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, July 28 (Reuters) - Australia's Prime Minister Anthony Albanese said he was confident a deal for the U.S. to sell nuclear powered submarines to Australia was on track, ahead of talks between defence and foreign ministers of the two countries on Friday. Twenty-five U.S. Republican lawmakers told President Joe Biden on Thursday the plan to sell three attack submarines to Australia under the so-called AUKUS partnership would "unacceptably weaken" the U.S. fleet without a clear plan to replace them. The United States, Britain and Australia announced the three-way AUKUS defence agreement in 2021 under which Australia is to obtain nuclear submarine technology from the United States. The U.S. is Australia's major security ally and announced with Britain in March that the United States would sell Australia three U.S. Virginia class nuclear powered submarines in the early 2030s, before Britain and Australia produce a new submarine class - SSN-AUKUS - the following decade. "Now's the time to be working closely with friends, and Australia has no better friend than the United States of America," Marles said at the start of a meeting with his U.S. counterpart.

Persons: Anthony Albanese, Joe Biden, Antony Blinken, Lloyd Austin, Albanese, Richard Marles, Austin, Marles, Kirsty Needham, Alasdair Pal, Praveen Menon Organizations: SYDNEY, Australia's, Republican, U.S, Defence, ., Democrats, NATO, Britain, Australian Defence, Sky, U.S ., Marines, Thomson Locations: Australia, Queensland, United States, Britain, Lithuania, U.S, . Virginia, CHINA, East, South, Japan, United States of America, Darwin, Sydney, Lincoln

The US began ramping up ammunition production last year when it became clear that the war would drag on far longer than anticipated. But the ammunition will still take “years” to mass produce to acceptable levels, National Security adviser Jake Sullivan told CNN Sunday. Ukrainian troops now typically fire between 2,000 and 3,000 artillery shells per day at Russian forces, a US defense official told CNN. It was necessary, though, because of how low US stockpiles are, Sullivan told CNN Sunday. “All of us have had to struggle stimulating our supply chains, some of which went to sleep,” he told CNN.

Persons: Ben Wallace, that’s, Jake Sullivan, haven’t, –, Defense Lloyd Austin, John Kirchhofer, Mark Milley, Joe Biden, Sullivan, Biden, “, ”, ” Sullivan, ” Nebraska Republican Sen, Deb Fischer, Lockheed Martin, Fischer, ” Fischer, I’m, ‘, Ellen Lovett, ” Lovett, ” Wallace, ” Said, Volodymyr Zelenskyy, Recep Tayyip Erdogan, Rishi Sunak, Murat Kula, Charles Q, Brown, Jr Organizations: Washington CNN, NATO, CNN, US, National, CNN Sunday, Pentagon, The Defense Department, EyePress, Reuters, Defense, Defense Intelligence Agency’s, Joint Chiefs, Staff, National Press Club, ” Nebraska Republican, Senate’s Armed Services, Lockheed, “, Britain's, Anadolu Agency, Getty, European Union, EU, DoD, US Air Force, Joint Chiefs of Staff, Defense Industrial Base Locations: Europe, Ukraine, Russia, Berlin, Swiss, Germany, Switzerland, Ukrainian, Kreminna, Luhansk, “, United States, Vilnius

Search resuls for: "Industrial Base"

25 mentions found