ARMS PACKAGES
EU sanctions target Russian gas for the first time, diplomats say
The European Union has agreed on a new sanctions package against Russia, marking its first restrictions on Russian gas since the war in Ukraine began. This 14th package bans the re-export of Russian liquefied natural gas (LNG) within EU waters, although imports continue. While intended to curb Russia's revenue and access to technologies, experts suggest limited impact on overall Russian LNG exports.
Taiwan to receive 1,700 TOW 2B anti-tank missiles from US by year-end
Taiwan is set to receive all 1,700 TOW 2B anti-tank missiles and 100 launchers from the US by the end of this year, following a two-year delay. The delay was due to the weapons initially failing to meet US Army standards. However, after passing all required tests, delivery is now expected before year-end. These missiles are part of three major arms packages purchased from the US, including F-16V fighter jets and AGM-154 air-to-ground missile systems. The TOW 2B missiles target the tops of armored vehicles, enhancing Taiwan's defensive capabilities.
NATO to take greater role in coordination of military aid for Kyiv, says Stoltenberg
During a visit by Stoltenberg to Budapest, Prime Minister Viktor Orban said his country would not block NATO decisions on providing support for Ukraine but had agreed that it would not be involved.
Elon Musk says Tesla shareholders voting yes for his $56 billion pay package
Tesla shareholders are voting on a $56 billion pay package for Elon Musk and to relocate the company's legal home to Texas. The vote outcome will be announced at a meeting in Texas on Thursday.
US to send new $225 million military aid package to Ukraine, officials say
The U.S. is sending military aid worth USD 225 million to Ukraine, including ammunition for defending Kharkiv from Russian attacks, with the High Mobility Artillery Rocket System (HIMARS) among the weapons provided.
LTIMindtree CEO pay up 10%, LTTS chief’s package jumps over 100%
Debashis Chatterjee fixed pay was Rs 9.33 crore, variable compensation at Rs 9.9 crore for the fiscal 2024. The median remuneration of employees of LTIMindtree during the financial year grew by 12% to Rs 14,00,009. In FY23, the median remuneration of the employees was Rs 12,49,992.
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What is NATO chief's proposal for military aid for Ukraine?
NATO foreign ministers will debate a military support package for Ukraine proposed by alliance boss Jens Stoltenberg, due to uncertainty over future U.S. support for Ukraine due to the possible return of former president Donald Trump to the White House. Stoltenberg has proposed putting military aid for Kyiv on a longer-term footing, along with a multi-year financial pledge. NATO's 32 member countries have different views on the plan, and the ministers will seek to narrow those divisions at their meeting in Prague.
Hindalco's US arm Novelis to list on NYSE in 2 weeks
Novelis IPO: Novelis on Tuesday launched a roadshow for its proposed initial public offering (IPO), where Indian parent Hindalco plans to sell 45 million shares, or a 7.5% stake, in the company at $18-21 per share.
More PEs head to India armed with big money to bag deals
Growtheum Capital Partners, a private equity firm headquartered in Singapore, is scheduled to inaugurate its Mumbai office this July, joining the growing list of PE investors in India. At the same time, US-based private equity firm Platinum Equity is evaluating investment opportunities across various sectors such as healthcare, technology, and infrastructure as it prepares to enter the Indian market.
Pentagon vows to keep arming Kyiv amid fresh Russian assault
The US announced no new aid packages Monday, but has now provided about $50.6 billion in military assistance to Ukraine since Russia invaded in 2022. Meanwhile, Ukrainian officials said Kyiv's troops still control nearly 60% of Vovchansk and are fighting house-to-house to defend the border town in northeastern Kharkiv region from Russian attacks.
US announces new $400 mln military aid package for Ukraine, official says
The U.S. is set to provide a $400 million military aid package to Ukraine, utilizing the Presidential Drawdown Authority. This aid is part of a larger $95 billion bill, with expectations of increased contracts for defense companies like RTX and Lockheed Martin.
Israel due to get billions of dollars more in US weapons despite Biden pause
The Biden administration has paused a shipment of bombs to Israel and is reviewing other weapons sales, concerned about their potential use in attacks on civilians. This comes amid the ongoing conflict in Gaza, where over 1 million civilians are seeking refuge. While Israel has been urged not to invade certain areas without safeguards, the delay in weapons approval has raised concerns. Biden's support for Israel has faced criticism, particularly among young Democrats, as he navigates the political landscape.
Russia ramps up Ukraine offensive ahead of arms boost
Russia has intensified its offensive in Donbas, making significant gains over the past month. The recent capture of Ocheretyne follows the fall of Avdiivka in February, with Russian forces advancing westwards. Ukraine's defence ministry reported 125 Russian attacks along the front line in 24 hours, with a focus on Ocheretyne and Chasiv Yar. While there have been no major breakthroughs, the advance has surprised Ukraine and led to criticism within the country. Ukraine has warned of ammunition shortages, despite Western aid approval, which could take two months to materialize.
Taiwan happy with US aid package, China objects to arms sales
Taiwan's President Tsai Ing-wen expresses gratitude for the U.S. Congress passing a substantial foreign aid package, including arms support for Taiwan, amid China's opposition. The bills, approved by both chambers, signal continued U.S. backing for Taiwan, sparking tensions with Beijing, which demands an end to arms sales.
Mukesh Bansal’s Cultfit gets new CEO; Google unveils Arm-based chip
Cultfit has formally appointed Naresh Krishnaswamy as CEO. Details on this and more in today’s ETtech Top 5.
Google unveils Arm-based chip in fight with rivals to make cloud computing more affordable
The new custom silicon chip processor, which is already powering YouTube ads, Google Earth Engine and other Google services, will become available for customers later in 2024.
Timely intervention by govt improved Manipur's situation, says PM Modi
There has been a marked improvement in the situation in trouble-torn Manipur due to the timely intervention of the Centre and state government, the Prime Minister said in an interview to The Assam Tribune newspaper.
NATO chief urges 'reliable' Ukraine support as 100-bn-euro fund floated
NATO chief Jens Stoltenberg called for members to commit to long-term weapon deliveries for Ukraine, proposing a 100-billion-euro fund over five years. He emphasized the urgency, stating that delays have battlefield consequences. Stoltenberg aims for NATO to provide more consistent, less ad hoc support to Ukraine. The proposal, discussed at a NATO meeting in Brussels, seeks to ensure sustained security assistance and lessen reliance on voluntary contributions. The plan includes NATO taking a more active role in coordinating arms supplies to Kyiv.
US approves additional bombs, warplanes sales to Israel
Israeli Defence Minister Yoav Gallant's recent visit to Washington underscored Israel's urgent requests for expedited weaponry, with Gen Charles Q Brown Jr, chairman of the Joint Chiefs of Staff, acknowledging Israel's persistent demands for critical military supplies. However, the US has exercised discretion in fulfilling these requests, citing capacity limits and strategic considerations.
Central govt employees, pensioners: Rates of CGHS packages revised; full list of CGHS treatments, new rates, eligibility
Central govt employees, pensioners: The rates of the Central Government Health Scheme (CGHS) for general surgery have been revised. What are new charges of CGHS facilities? Where will the new CGHS rates will be applicable? All central govt employees and central govt pensioners must know.
Ukraine on the defensive as Russia war enters third year
Ukraine marks two years since Russia's invasion, facing challenges as Russia gains strength and Western aid falls short. Despite initial expectations of a quick Russian victory, Ukraine has fought back, but is now struggling due to a lack of manpower and ammunition. Western leaders visit Kyiv, but the US Congress blocking aid and delays in European deliveries have hampered Ukraine's efforts. The conflict has taken a toll on Ukraine's economy and civilians, with estimates of around 50,000 civilian deaths.
Hindalco arm Novelis eyes US IPO, files papers
The company is wholly owned by Hindalco through its subsidiary AV Minerals (Netherlands) NV, which will offload shares for the public offering. India-listed Hindalco will get all the proceeds from the sale, but the company did not disclose how many shares will be sold in the offer.
Volodymyr Zelenskiy urges leaders to end arms shortage that is helping Putin
Ukrainian President Zelenskiy called for more weapons at a global security conference to counter Russia's advances. German Chancellor Scholz urged European countries to match Germany's increased military aid to Ukraine and invest in their own security. The conference also discussed NATO's future and concerns about U.S. commitment under a potential return of former President Trump. The event was overshadowed by the death of Kremlin critic Alexei Navalny in a Russian prison. U.S. Vice President Harris reaffirmed U.S. support for NATO and Ukraine, while Navalny's wife called for accountability for Putin's actions.
Ukrainian President Zelenskyy takes command of country's armed forces amid escalating military tensions
President Volodymyr Zelensky has replaced General Valerii Zaluzhnyi as the head of Ukraine's armed forces, marking a significant shift in the country's military leadership amid ongoing tensions with Russia
Oil rises towards $80 as China announces stimulus
Oil rose slightly on Wednesday, with Brent trading near $80 a barrel, as a Chinese economic stimulus package and geopolitical tensions were countered by concerns over tepid demand and a stronger dollar.
CIC asks defence ministry to revisit refusal to disclose records on 'Agnipath' scheme
The Central Information Commission has directed the defence ministry to revisit its refusal to disclose records related to the Agnipath military recruitment scheme under the Right to Information Act. Activist Vihar Durve had filed an RTI application seeking records of deliberations on the Agnipath scheme. The defence ministry classified the files as "secret" and invoked Section 8(1)(a) of the RTI Act to deny the information.
Amazon India’s logistics unit sees revenue fall marginally to Rs 4,543 crore
Amazon Transportation Services' financial numbers are in line with a deceleration seen in Amazon’s other India businesses during the last fiscal, as the Seattle-based parent is pulling back on cash burn across the board.
Germany plans 'substantial' new Ukraine arms package
Germany will make a significant new pledge of military equipment for Ukraine during this week's NATO summit to bolster Kyiv's counteroffensive against Russia, a senior government official said on Monday. When asked about whether Berlin would make a new commitment to supply arms to Kyiv at the summit, the official, who spoke on condition of anonymity, said "yes... substantial. Very substantial".
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