DUBAI (Reuters) -Saudi defence company SCOPA Industries and Airbus have signed an agreement to jointly produce civil and military helicopters in the kingdom, SCOPA CEO Fawaz Alakeel told Saudi state TV on Monday. The deal was announced on the sidelines of a Saudi-French investment forum being held during a visit by Saudi Arabia’s Crown Prince…
By Hyunsu Yim SEOUL (Reuters) -An unusually candid North Korea has said the botched launch of a military satellite last month was the “gravest failure” but it vowed it would soon succeed in its quest, state media reported on Monday. North Korea’s ruling party made the assessment of its May 31 launch at a three-day…
PARIS (Reuters) -A French government spending review has identified 10 billion euros ($11 billion) in budget savings that will be targeted in the coming years, Finance Minister Bruno Le Maire said on Monday. French public spending as a share of GDP, long among the highest in the world, exploded during the COVID-19 pandemic and then…
SYDNEY/BEIJING (Reuters) -New Zealand Prime Minister Chris Hipkins said on Monday he would visit China from June 25 to 30, leading a trade delegation that includes some of the country’s biggest companies. Hipkins will meet President Xi Jinping, Premier Li Qiang, and the chairman of the standing committee of the National People’s Congress Zhao Leji…
By Allison Lampert, Tim Hepher and Valerie Insinna PARIS (Reuters) – For dealmakers, this week’s Paris Air Show will showcase the boom in demand for commercial planes and military technology. What won’t be on display is the problem that has consumed time and attention of executives and consultants for the past two years: the long…
MOSCOW (Reuters) – A Russian warship and cargo ship rescued 68 people overnight from a boat in the Mediterranean Sea, Russia’s Defence Ministry said on Monday. It said in a statement that the Admiral Gorshkov warship had been the first to receive a distress call from the Avalon, which it described as a “yacht-type vessel”…
By Saurabh Sharma LUCKNOW, India (Reuters) – At least 54 people died in a district in the northern Indian state of Uttar Pradesh over the last few days, the Times of India newspaper reported on Monday, as authorities probed if the loss of lives was due to the heat wave in the region. Another 45…
By Anton Bridge TOKYO (Reuters) – The Japanese operator of McDonald’s restaurants said on Monday it would raise prices at 184 city centre branches, equivalent to about 6% of its 3,000 stores, to help absorb higher rents and labour costs. Until now, 40 stores in some city centres and special locations such as airports and…
By Kate Abnett LUXEMBOURG (Reuters) -A late proposal to extend subsidies for coal plants has upset European Union countries’ plans on Monday to approve a reform of the bloc’s power market, which was designed to shift the electricity system towards cleaner energy. EU countries’ energy ministers meet in Luxembourg on Monday to agree a joint…
By Rachna Uppal and Yousef Saba DUBAI (Reuters) – Buoyed by a swift economic rebound post-COVID, Dubai is racing to attract people and capital to drive long-term growth, betting it can avoid past debt crises that dented its global ambitions. The approach pursued by the glitzy Gulf city-state is a reboot of a flamboyant economic…
