Volkswagen Faces Billions in Losses from US Tariffs Volkswagen, Europe’s largest carmaker, has suffered financial losses worth several billion euros due to ongoing US tariffs. CEO Oliver Blume revealed the impact during an interview at the IAA Munich car show. He stated that the costs have already appeared on this year’s balance sheet, significantly affecting the group’s performance. Porsche, one of Volkswagen’s key brands, is especially vulnerable. According to Blume, it faces pressure from both weak demand in China and high import tariffs in the United States. He described the situation as a “sandwich position,” with both major markets squeezing…
Author: Kanika Sharma
Read More
$570 Million Investment Planned for Satellite Infrastructure Amazon plans to roll out its Kuiper satellite broadband services in Vietnam, according to a statement from the Ministry of Science and Technology. The announcement followed a meeting in Hanoi between Deputy Minister Pham Duc Long and Gonzalo de Dios, Amazon’s head of Global Licensing and Project Kuiper. The US tech giant has committed to investing $570 million by 2030. The funds will support infrastructure development, including up to six ground stations and terminal manufacturing facilities. These will be located in the northern province of Bac Ninh through partnerships with local firms. New…
Boeing Moves to Replace Striking Union Workers Boeing Defence has announced plans to hire permanent workers to replace members of the International Association of Machinists and Aerospace Workers (IAM) who are currently on strike in the St. Louis area. These workers assemble munitions, military aircraft, and fighter jets. The move was confirmed in a message sent to employees by Boeing Defence Vice President Dan Gillian on Thursday. “Today, we’re starting the process to hire permanent replacement workers for manufacturing roles,” Gillian said. “This will ensure we’re properly staffed to keep supporting our customers.” Union Pushes for Talks, Not Replacements Union…
Military Veterans Fuel Europe’s Defence Tech Boom Amid Ukraine War Former soldiers are taking a leading role in transforming Europe’s defence technology sector. Their combat-tested insights are shaping products and driving investment at record levels. As the war in Ukraine continues, demand for effective battlefield tools has surged, pushing veterans into key roles as founders, advisors, and investors. One such example is Matt Kuppers, a former German officer and co-founder of Defence Invest. While testing an anti-drone system from an Austrian startup, he noticed the barrel heated too quickly during use. This detail, overlooked by the civilian team, affected the…
Spy satellite Ofek 19 launched from central coast Israel launched its Ofek 19 spy satellite on Tuesday night (Sept. 2), surprising many residents who were unaware of the event. The launch took place at 10:30 p.m. local time from Palmachim Airbase, located around 15 kilometres south of Tel Aviv. The satellite was carried into orbit by a Shavit rocket, commonly used for sending small satellites into space. Soon after launch, the satellite entered orbit successfully and began transmitting data. Israel’s Ministry of Defence confirmed the mission’s success. Unannounced launch caused confusion Although the launch achieved its goals, it caused unexpected…
APEDA Launches BHARATI Initiative to Boost Agri-Food Exports The Agricultural and Processed Food Products Export Development Authority (APEDA) has launched BHARATI — Bharat’s Hub for Agritech, Resilience, Advancement and Incubation for Export Enablement. The initiative was unveiled during the Food & Beverages Sector Stakeholders Meeting chaired by Union Minister of Commerce and Industry Shri Piyush Goyal. UAE’s Minister of Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, and Union Minister of Food Processing Industries Shri Chirag Paswan joined him in launching the programme. Empowering Start-ups for Global Competitiveness BHARATI aims to empower 100 agri-food and agri-tech start-ups by providing an…
FAA to End Leases on Satellite Offices The US Federal Aviation Administration (FAA) is preparing to cancel leases on its satellite offices in the Washington, D.C. area. The move comes as part of a broader effort to consolidate operations and relocate headquarters staff into the main building of the US Department of Transportation (USDOT). In an email to employees, FAA Administrator Bryan Bedford said the shift would improve efficiency and teamwork. “We will work more effectively when we’re together, rather than spread across six different office locations,” he wrote. Bedford added that the move would lower operating costs and strengthen…
SpaceX Starship Test Marks Key Progress with Satellite Deployment and Heat Shield Trial SpaceX achieved major milestones on Tuesday as its Starship rocket successfully deployed a batch of mock Starlink satellites and tested advanced heat shield tiles during re-entry. This progress marks a turning point for the company following a series of earlier test failures. Starship Launches and Completes Major Objectives The Starship system, standing 403 feet tall, launched at 7:30 p.m. EDT (2330 GMT) from SpaceX’s Starbase in south Texas. Just three minutes into the flight, the Super Heavy booster released the Starship upper stage into space. Roughly 30…
India and Japan to Deepen Ties at Annual Summit Prime Minister Narendra Modi will travel to Japan on 29–30 August for the 15th India-Japan Annual Summit. He will meet Japanese Prime Minister Shigeru Ishiba to discuss regional cooperation, defence, space, and critical minerals. The Ministry of External Affairs has underlined the importance of the Quad grouping, which includes India, Japan, Australia, and the US, in advancing stability and economic growth in the Indo-Pacific region. Indian Foreign Secretary Vikram Misri said Quad has become an essential platform for peace and development. He added that its agenda has broadened to include practical…
India Emerges as a Global Hub for Electric Vehicle Manufacturing Prime Minister Narendra Modi inaugurated major green mobility initiatives at the Suzuki Motor plant in Hansalpur, Gujarat. This event marks a turning point for India’s electric vehicle (EV) sector under the Make in India campaign. Highlighting India’s progress, the Prime Minister launched the “e-VITARA”, Suzuki’s first global Battery Electric Vehicle (BEV) manufactured in India. Starting today, India will begin EV exports to over 100 countries, including Europe and Japan. PM Modi noted that this achievement reflects India’s strength in democracy, demography, and a skilled workforce—making it an attractive destination for…