Finance news

Fire kills 5 in South Korea after blast at defence giant Hanwha Aerospace’s factory

Five people have died and two others were injured in a fire at a factory operated by South Korea’s Hanwha Aerospace in the city of Daejeon, authorities said on Monday. The two survivors, including one who was badly burned, had escaped from the facility themselves, a fire official told a briefing. “Authorities have yet to identify the victims ‌because their bodies were severely damaged,” a health official told the same briefing. A fire official said that an explosion had triggered the blaze,...

US Strikes Iran’s Air Defence, Ground Control Station After MQ-1 Shootdown Amid Ongoing Talks

The US launched airstrikes on Iranian radar and drone control sites after Iran shot down a US MQ-1 drone over international waters. The strikes targeted systems in Goruk and Qeshm Island, neutralizing air defenses and attack drones that threatened regional ships. No American personnel were harmed in the operation. submitted by /u/Aware_Apartment_8959 [link] [comments]

Shangri-La Dialogue: what China, US and Japan said

US Defence Secretary Pete Hegseth praised stabilised ties with China at the recently concluded Shangri-La Dialogue in Singapore, as Chinese delegate Major General Meng Xiangqing warned against hegemonism and Japanese military expansion, while Japan’s Defence Minister dismissed claims of a “new militarism”. Read the full text of all three speeches below. Major General Meng Xiangqing: Remarks by Professor Meng Xiangqing, Head of the PLA Delegation of Experts and Scholars, National Defence U... by.

Mitsubishi Electric - Thoughts?

What are people's thoughts on Mitsubishi (either electric, heavy or chemicals) as an investment? Mitsubishi Electric has experienced a massive 90% run up this year but I'm wondering if there's still quite a lot of room for growth - as it seems to serve almost all of the emerging high-growth industries. For example, Mitsubishi Heavy Industries supplies reactor-related systems, steam turbines and plant infrastructure for nuclear energy, as well as hydrogen production systems, turbines, and solid o

Japan’s defense minister rebuffs ‘militarism’ allegation, defends defense policies

Shinjiro Koizumi says arms sales, more visible regional military presence aims to help partners defend themselves

United Airlines flight to Spain turns back to Newark, US after possible security threat

A United Airlines flight bound for Spain from Newark Liberty International Airport turned around mid-flight on Saturday due to a possible security threat in-flight. The flight departed at around 6pm local time for Palma de Mallorca, Spain, but landed back at Newark at 9.37pm, according to the Port Authority of New York and New Jersey. The airline said there were 190 passengers and 12 crew members on the Boeing 767 aircraft. According to air traffic control audio, security came to inspect the...

Philippines, Japan seek to strengthen defense ties amid US-China thaw

'Gyaru' and jazz: Tourists get lost in Osaka's unexpected charms

The Race to Build the World’s Largest Solar Farms Is Accelerating

Over the last two decades, solar panels have fallen in price while efficiency has increased. Greater uptake and high levels of investment in research and development have led to vast improvements in solar power technology. As panel prices fall and governments worldwide look to diversify their energy mix and cut emissions, several developers are now launching mega-projects to meet the growing demand. Most major solar projects developed in recent years provide hundreds of megawatts of clean power.

Shangri-La Dialogue: can Asia do ‘less Shangri-La, more ships, more subs’?

As the Shangri-La Dialogue drew to a close on Sunday, two issues dominated discussions throughout the event: defence spending and the varying level of commitment of countries to maintain peace in the region after calls by Washington for its allies and others to pull their weight. Analysts said the 3.5 per cent of gross domestic product for defence spending proposed by US Defence Secretary Pete Hegseth was not something that most Asean countries – aside from Singapore – could commit to. Hegseth..

Philippines, Japan seek to strengthen defense ties amid U.S.-China thaw

Armament: Bundeswehr chief demands clear announcements on US troop levels in Europe

Bundeswehr Inspector General Carsten Breuer wants a clear plan from the USA regarding its troop plans in Europe. Arming the continent takes time.

Security: Japan warns against China's arms buildup at Shangri-La dialogue

The tensions between the two countries became clear at the conference. US Defense Secretary Pete Hegseth is calling on Asian allies to increase military spending.

Defense spending, China in Asia and lessons from Ukraine: Takeways from the 2026 IISS Shangri-La Dialogue

The summit sees top world leaders, defence officials and key executives gathering in Singapore from May 29 to 31

Philippines says Beijing main hurdle to South China Sea code of conduct

Members of Asean might have conflicting claims in the South China Sea but mutual trust exists in the bloc, Philippine defence chief Gilberto Teodoro Jnr said on Sunday, singling out Beijing as the biggest obstacle to a code of conduct in the disputed waterway. Teodoro delivered strong words for China in the final panel of the Shangri-La Dialogue security forum in Singapore, taking aim at Manila’s long-time maritime rival for disregarding an international arbitral tribunal which ruled in favour..

Malaysia blasts ‘conspicuously muted’ response over axed Norway missile deal

Malaysia’s Defence Minister Mohamed Khaled Nordin slammed the international community’s “muted” response on Sunday at a security forum over Norway’s decision to scrap a missile deal with Kuala Lumpur. In a charged speech at the Shangri-La Dialogue in Singapore, Khaled said the “deafening silence” on Oslo’s cancellation of the agreement sent a message that certain countries were “simply above scrutiny”, questioning if global rules were subject to the will of bigger powers. Earlier this month, the

Japanese defence minister rejects ‘new militarism’ label from China in Shangri-La speech

Japan’s defence minister has rejected suggestions that his country is reviving its militaristic past, telling a regional security conference that changes to its defence strategy would allow it to play a new cooperative role. Shinjiro Koizumi also used his speech at the Shangri-La Dialogue on Sunday to state that Tokyo opposed “unilateral changes to the status quo by force or coercion”, a comment believed to refer to Beijing’s maritime activities, including in the East and South China seas, and..

Japan seeks candid dialog, defense minister says, rejecting 'neo-militarism' claims

Koizumi calls for transparency and dialog as he addresses tensions in the region.

India seals BrahMos missile deal with Vietnam, eyes Indonesia next

India ⁠has signed ⁠a deal with Vietnam under which it will supply BrahMos missiles which it has jointly ‌developed with Russia and is in “final stages” for a similar deal with Indonesia, India’s Defence Secretary Rajesh Kumar Singh said on ⁠Saturday. India has a strong commitment ‌to Asean nations, Singh said, without disclosing more details ‌of the deals related to BrahMos. Singh ⁠was ⁠speaking at Asia’s premier defence forum, ‌the Shangri-La Dialogue in Singapore. India, which has been...

New Zealand tells US it lacks billions ‘under the couch’ to raise defence spending

New Zealand does not have the fiscal headroom to increase defence spending to the levels the US might expect, Finance Minister Nicola Willis said. US Defence Secretary Pete Hegseth told delegates at an Asia security forum in Singapore on Saturday that New Zealand’s target of raising defence spending to 2 per cent of the economy is not enough and was an example of “freeloading”. He hinted that nations should aspire to a target as high as 3.5 per cent. “That would be extremely challenging,” Willis

Russia Signs Military Cooperation Deal With Afghanistan’s Taliban Government

Russia and Afghanistan’s Taliban government have signed a military agreement, in a move that signals deepening cooperation between the sides, experts said. The deal was signed on May 27 by Sergei Shoigu, secretary of Russia’s Security Council, and the Taliban’s defense minister, Mohammad Yaqub, on the sidelines of a security forum outside of Moscow, Russian media reported. Neither side has released the text of the military cooperation agreement or offered details about its scope, making it diffi

FDP: “Never work with the AfD” – Kubicki becomes the new FDP party leader after a vote

He had to tremble for a moment: Defense politician Strack-Zimmermann surprisingly competed against FDP veteran Kubicki at the party conference. After his victory, he makes an announcement for Saxony-Anhalt.

AUKUS partners sign agreement on underwater drones, speed up sub plan

Australia will now forgo the purchase of a new build Virginia-class submarine and acquire another ex-US Navy boat instead.

China dials down rhetoric but regional risks persist at Shangri-La Dialogue

The world faces challenges from “hegemonism” and “bloc confrontation” driven by “certain countries”, China’s delegation to Asia’s premier security conference said on Saturday, without directly naming the United States. Major General Meng Xiangqing, the head of the Chinese delegation to the Shangri-La Dialogue in Singapore, sent the warning during a special session on managing threats to strategic stability. Meng, a professor at the People’s Liberation Army National Defence University, also used.

US general holds rare meeting with Cuban military officials near Guantanamo Bay

The meeting is the first in recent memory by a head of U.S. Southern Command and comes amid growing concerns in Cuba of a possible U.S. military attack.

Hanwha against TKMS: With this delicate strategy, Korea wants to outdo Germany in the submarine business

Germany and Korea are fighting for Canada's billion dollar deal. In the final phase, Berlin sends its defense minister, Seoul plays the entire country. Who secures the contract?

17 nations launch pact to protect vital undersea cables amid US, China absence

Seventeen countries have agreed to collaborate on defence strategies for critical marine infrastructure such as undersea cables, an effort that analysts warn may be undermined by the absence of superpower involvement. At the Shangri-La Dialogue in Singapore on Saturday, defence ministers and representatives from these countries attended the launch of the Guiding Principles for Underwater Infrastructure Defence Exchanges (Guide), which aims to bring countries together to explore potential areas..

Shangri-La Dialogue: Hegseth in Singapore: The US Secretary of Defense doesn't mention Taiwan at all

While he heavily criticizes Europe, the US defense secretary strikes a mild tone towards China at Asia's most important security conference. This is likely to cause unrest in Taipei.

VW's transformation: "We are in contact with the Ministry of Defense"

Volkswagen has to get rid of factories and is looking for new ones for upgrades: the company is therefore taking the plunge into becoming an arms company.

Shangri-La Dialogue: Hegseth attacks Europe - and warns about China's hegemony

In Singapore, US Defense Secretary Hegseth calls for more military commitment from allies - and stronger deterrence in the Indo-Pacific.