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The Spanish technology and defence company Indra Sistemas released its first quarter 2024 earnings on Monday, clocking in a revenue of €1.1 billion, up from €917 million in Q1 2023. This was a rise of about 22%, boosted by robust growth in the Mobility, Defence, Air Traffic Management (ATM) and Minsait departments. Net profit surged to €61 million in Q1 2024, from €44 million in the corresponding quarter in 2023, a jump of approximately 40%. Similarly, EBITDA also grew to €117 million in the first quarter of the year, from €92 million, while EBITDA margin rose to 10.4% from 10% in Q1 2023. Bas...
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Russia has blamed the "hostility" of Baltic states for them severing most of their ties with the country. "Because of the openly hostile line of Vilnius, Riga and Tallinn, all interstate, interdepartmental, regional and sectoral ties with Russia have been severed," said Russian foreign ministry spokeswoman Maria Zakharov on Sunday. She warned Moscow would respond with asymmetric measures, though did not specify exactly what the Baltics had supposedly done. "We will also respond to the hostile actions of the Baltic states with asymmetrical measures, primarily in the economic and transit spheres...
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NATO has issued a sharp warning over "hostile" Russian activity across Europe. In a statement released on Thursday, the 32-member military alliance said it was "deeply concerned about recent malign activities" by Moscow, which it called a threat to Western security. It pointed to "disinformation, sabotage, acts of violence, cyber and electronic interference... and other hybrid operations." Czechia, Estonia, Germany, Latvia, Lithuania, Poland and the United Kingdom have all been affected, according to NATO. The US-led military alliance called these incidents "part of an intensifying campaign of...
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At least four people have been killed in a Russian missile strike that hit a Gothic-style building in the southern Ukrainian city of Odesa. Known to locals as the "Harry Potter Castle", its turrets were still burning at nightfall and emergency services graded the blaze severe. Residents reportedly did not have enough time to take shelter as air raid alerts only happened a few minutes before the strike. "The type of missile is currently being checked; forensic specialists are carrying out the appropriate evaluations to this end," said a spokesperson for Ukraine's Southern Defense Forces, Dmytro...
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During his visit, Stoltenberg said NATO countries had failed to deliver in good time what they promised to Ukraine, but that 'support is on the way,' NATO countries failed to deliver in good time what they promised, said the NATO Secretary-General. Ukranian President Volodymr Zelenskyy met NATO Secretary-General Jens Stoltenberg in Kyiv on Monday. Stoltenberg said NATO countries failed to deliver in time what was promised to Ukraine, allowing Russia to exploit battlefield advantages and gain ground. ‘Ukraine has been outgunned for months,’ he said, ‘but it’s not too late for Ukraine to prevail...
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With the gaze of much of the world fixed on the wars unfolding in Gaza and Ukraine, Russian President Vladimir Putin continues to expand his country’s reach in Africa. He is now using Libya as a stepping stone to position Russian submarines in the central Mediterranean and place nuclear weapons on Europe’s southern flank. Enrico Borghi, a centrist MP and member of the Italian parliament’s intelligence committee, recently warned that Russia’s interest in Tobruk in Libya is no mystery, which could be a preamble for sending its nuclear submarines there, much like the Soviet Union sent its missile...
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A Russian attack on NATO would end in defeat for Moscow, but NATO must increase its defences, Poland’s Foreign Minister Radek Sikorski told parliament on Thursday. Sikorski was describing the new foreign policy direction of Prime Minister Donald Tusk's government, explaining to a world audience and those at home how Poland's priorities have changed since last year's election. He said Poland wants to return to the group of countries which sets the agenda of the European Union. Tusk’s government replaced a conservative administration, led by the right-wing Law and Justice party. While Law and Ju...
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UK Prime Minister Rishi Sunak has announced that his government will increase defence spending to 2.5% of GDP by the end of the decade. Sunak made the announcement during a visit to Warsaw, where he also unveiled a new pledge to send arms to Ukraine. He said the government is putting the UK's defence industry “on a war footing", describing it as the “biggest strengthening of our national defence for a generation”. "In a world that is the most dangerous it has been since the end of the Cold War, we cannot be complacent," he said at a news briefing in the Polish capital alongside NATO secretary ...
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Military spending in Central and Western Europe is now higher than the last year of the Cold War, a new report has found. According to new data released by the Stockholm International Peace Research Institute (SIPRI), Europe has seen a widespread surge in military spending since the start of 2022, reaching a total of €552 billion in 2023. The increase is 16% more than the countries concerned spent in 2022, and 62% more compared to 2014, where spending was €330 billion. All but three European NATO member countries – Greece, Italy and Romania – increased their military expenditure in 2023. Loren...
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On Friday Stoltenberg on Friday pressed member countries to give more Patriot missile systems to Ukraine as President Volodymyr Zelenskyy repeated Kyiv's almost daily appeals for more Western air defence equipment. “NATO has mapped out existing capabilities across the alliance and there are systems that can be made available to Ukraine,” Stoltenberg told reporters after an online meeting of defence ministers from the 32-nation alliance, which Zelenskyy took part in remotely. Russia’s air force is vastly more powerful than Ukraine’s, but sophisticated missile systems provided by Kyiv’s Western ...
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