paris

France recalls envoys in U.S. and Australia over submarine deal

On Thursday, Australia said it would scrap the $ 40 billion deal with France's Naval Group to build a fleet of conventional submarines and would instead build at least eight nuclear-powered submarines with U.S. and British technology after striking a trilateral security partnership

skou

Maersk CEO sees no sign of freight market easing this year

He expects global trade volumes to grow 7%-8% this year compared with 2020. "We see very, very strong end-user demand combined with re-stocking and the fact that capacity in ports, warehouses and on ships is not fully utilized due to COVID-19"

next week

Germany, France, Spain aim for fighter jet agreement

Berlin - Disagreements over intellectual property rights mean Germany, France and Spain have yet to agree the next steps for a joint fighter jet project, the defence ministry in Berlin said on Saturday after a deadline to find a solution ran out

U.N. report

North Korea developed nuclear, missile programs in 2020

New York - North Korea maintained and developed its nuclear and ballistic missile programs throughout 2020 in violation of international sanctions, helping fund them with some $300 million stolen through cyber hacks, according to a confidential United Nations report seen by Reuters on Monday. The report by independent sanctions monitors said Pyongyang "produced fissile material, maintained nuclear facilities and upgraded its ballistic missile infrastructure"

Strategies

Israel venture capital firm JVP in talks for potential UAE innovation centre

Dubai - Israeli venture capital firm Jerusalem Venture Partners (JVP) is in talks with potential partners in the United Arab Emirates to set up an innovation hub there, its chairman said on Monday. JVP Chairman Erel Margalit has met with potential partners and looked at at least one possible site for a hub during a visit to the UAE this week

The promise

ArcelorMittal commits to becoming carbon neutral by 2050

Brussels - ArcelorMittal, the world's largest steelmaker, committed on Wednesday to being carbon neutral by 2050, although it said a level playing field with green border adjustments and abundant, affordable clean energy would be required to get there. The company, which makes around 5% of the world's steel, said last year it aimed to reduce carbon dioxide emissions by 30% by 2030

Containers

CMA CGM hit by cyber attack

Marseille - French liner major CMA CGM confirmed that it was currently dealing with a cyber-attack impacting peripheral servers. The attack does not include CEVA Logistics: “As soon as the security breach was detected, external access to applications was interrupted to prevent the malware from spreading

Diplomacy

Israeli tech's thirst for UAE cash must overcome old enmity

Dubai - A thaw in relations between Israel and the United Arab Emirates has raised expectations of an influx of funding in Silicon Wadi, Israel's answer to Silicon Valley: "The UAE has excess amounts of money, but not enough places to invest it in the Middle East" said Eldad Tamir, founder and CEO of the Tamir Fishman investment house, one of Israel's top investment funds

Pressing on Brussels

European battery makers power up for a green recovery

Bruxelles - European battery makers are gearing up to take advantage of massive "green" stimulus packages unveiled since the coronavirus pandemic though many acknowledge it will be tough to match the Asian giants that dominate the mainstream market. While Sweden's Northvolt, and more recently France's Verkor, are making a play for large-scale production

Rivaling Fincantieri and Naval Group

Berlin is reportedly brokering a deal to consolidate German naval shipbuilders

Cologne - The German government is facilitating talks between major naval shipbuilders in an effort to set up a national conglomerate rivaling industry champions like Naval Group in France and Fincantieri in Italy, according to a local media report. Negotiations to that effect have been ongoing behind closed doors since the beginning of 2020

Shipping and technology

Wartsila misses Q4 expectations

Finnish ship technology and power-plant maker Wartsila reported on Thursday lower-than-expected quarterly profit, burdened by slower demand

Global warming

Fincantieri enters the nuclear project ITER

Fincantieri has been awarded a prestigious order, worth almost 100 million euros, for a number of high-profile equipment furniture and installations as part of the International Thermonuclear Experimental Reactor

technology

Fimer acquires ABB solar activities

Milan - Fimer, a company active in the market of inverters for renewable energy for «utility steps», has signed an agreement with ABB for the acquisition of the solar inverter business of the Swedish-Swedish multinational group

technology

Ports of Genoa propose incentives on cold ironing

Genova - «From the economic point of view the cold ironing is a bloodbath: for shipowners, ports, terminal operators ». Believe it, if a say it is Davide Sciutto, responsible Technological systems of the Port System Authority Genova-Savona (Ports of Genoa)

technology

Wärtsilä supports Italy in reaching energy targets

Rome - Embassy of Finland in Italy and Wärtsilä Corporation hosted a “Smart Energy Future Seminar ” in Rome, Italy on June 18, 2019. The event focused on analysing how renewable energy is changing the existing electricity market in Italy