The European Commission is poised to act on proposals aimed at relaxing budget rules to enable European Union member states to boost defense spending, according to Executive Vice President Valdis Dombrovskis. Ahead of a meeting of EU finance ministers in Brussels, Dombrovskis emphasized that the EC plans to work on specific modalities in the coming...
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Category: Investment Security
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EDGE Business, Lockheed Martin to Explore Opportunities in the UAE
EPI, an EDGE business focused on advanced precision engineering solutions, has signed a letter of intent with Lockheed Martin to explore opportunities in several defense domains that would drive the United Arab Emirates industrial growth, national defense capabilities and self-sufficiency. The deal was formalized with government and business leaders in attendance, including Khaled Al Zaabi,...
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CAE Appoints New Chair, Board of Directors
Montreal-based aircraft simulation solutions provider CAE has named four new members to its board of directors: Calin Rovinescu, Peter Lee, Katherine A. Lehman and Louis Tetu. Rovinescu was nominated chair of the board, bringing years of experience as a corporate director, venture capital investor and senior adviser to several businesses. He succeeds Alan N. MacGibbon,...
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Safran Forms Partnership With Bharat Electronics for Weapons Manufacture in India
French company Safran Electronics & Defense and Bharat Electronics Ltd, an Indian government-owned company, have announced a joint venture to manufacture Safran’s smart precision-guided air-to-ground weapon in India. According to their memorandum of understanding announced Tuesday, the partnership will cover the sale, maintenance and customization of the French firm’s HAMMER weapon. HAMMER, which stands for Highly...
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Justin Hotard to Take Over as Nokia President, CEO
Finnish telecommunications company Nokia has named Justin Hotard as president and CEO, effective April 1. Hotard brings 25 years of experience driving innovation, delivering revenue growth and leading technology. He will be joining the company from Intel, where he is currently executive vice president and general manager of Data Center & Artificial Intelligence. Before joining...
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UK Spurs Construction of Small Nuclear Power Plants
The U.K. government is revising its nuclear energy policy to achieve the country’s goals of energy security and clean power. London announced in a statement Thursday that the revisions include integrating small nuclear power stations in policy planning to facilitate the plants’ construction in areas that need them. It added that Britain’s limit on eight...
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Riyadh Wooing Defense Companies With Incentives, Saudi Official Says
Saudi Arabia’s General Authority for Military Industries has invited defense companies to explore business opportunities in Saudi Arabia. GAMI Governor Ahmad Abdulaziz bin Al-Ohali, addressing participants at a recent defense and aerospace conference in Antalya, said the agency has partnered with industry stakeholders to create investment incentives for companies serving local and international defense markets....
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Amazon Web Services Signs News Deal With Australia, Accelerates Access to Cloud
Australia’s Digital Transformation Agency and Amazon Web Services Australia have signed a three-year whole-of-government arrangement that builds on the success of a previous deal from 2019, which aimed to accelerate access to cloud computing services. The initial agreement promised a faster way to procure AWS services. The reduction in time, resources and effort is made...
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IBM, Telefonica to Explore Cryptographically Relevant Quantum Computing Issues
IBM has signed a collaboration agreement with Telefonica Tech, Spanish telecommunication company Telefonica’s digital unit, to develop solutions that would address future cryptographically relevant quantum computer-related problems. The deal will see IBM extend its quantum technology portfolio while Telefonica Tech will provide managed and professional cybersecurity services. IBM has been working on a wide range...
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CGI Agrees to Acquire BJSS; Merger to Close in February
IT and business consulting firm CGI is set to acquire BJSS after signing a share purchase agreement with the U.K.-based technology and engineering consultancy. Pending regulatory approval and other customary closing conditions in February, the acquisition will add BJSS’s workforce of more than 2,400, including experts in health, government and financial services, to CGI’s global...