Latest news with #Scorpène
Time of India
06-07-2025
- Business
- Time of India
PM Modi Hugs Argentina President Milei In Buenos Aires, Pays Tribute At San Martin Memorial
PM Modi's Brazil Visit- Key Military Deals, UN Push, BRICS Currency and Trade Surge On Agenda PM Narendra Modi's historic visit to Brazil marks a turning point in India-Brazil ties. Ambassador Kenneth da Nóbrega calls it "unprecedented," citing 72 business missions from Brazil to India and 40+ in the reverse direction within just two years. The focus? Trade, tech, defence, and global reforms. Talks are underway on India supplying Akash missile systems and patrol vessels, plus collaboration on the French-origin Scorpène submarines. Brazil is pushing for BRICS-level trade in local currencies and alternative payment systems. Both nations are aligned on pushing UN Security Council reform, reflecting a multipolar world order. With a $20 billion trade target in sight, PM Modi's visit could redefine South-South cooperation. Don't miss this game-changing moment in India-Latin America diplomacy.#pmmodi #narendramodi #modiinbrazil #bricscurrency #unscreform #indiaforeignpolicy #modivisitbrazil #india #brazil #brics #defencedeals #toi #toibharat #bharat #trending #breakingnews #indianews 318 views | 2 days ago
Time of India
04-07-2025
- Business
- Time of India
PM Modi's Brazil Visit- Key Military Deals, UN Push, BRICS Currency and Trade Surge On Agenda
PM Narendra Modi's historic visit to Brazil marks a turning point in India-Brazil ties. Ambassador Kenneth da Nóbrega calls it "unprecedented," citing 72 business missions from Brazil to India and 40+ in the reverse direction within just two years. The focus? Trade, tech, defence, and global reforms. Talks are underway on India supplying Akash missile systems and patrol vessels, plus collaboration on the French-origin Scorpène submarines. Brazil is pushing for BRICS-level trade in local currencies and alternative payment systems. Both nations are aligned on pushing UN Security Council reform, reflecting a multipolar world order. With a $20 billion trade target in sight, PM Modi's visit could redefine South-South cooperation. Don't miss this game-changing moment in India-Latin America diplomacy.#pmmodi #narendramodi #modiinbrazil #bricscurrency #unscreform #indiaforeignpolicy #modivisitbrazil #india #brazil #brics #defencedeals #toi #toibharat #bharat #trending #breakingnews #indianews Read More
New Straits Times
22-05-2025
- Business
- New Straits Times
Najib denies link to Scorpene submarine bribery scandal
KUALA LUMPUR: Datuk Seri Najib Razak has denied any involvement in alleged bribery linked to Malaysia's 2002 submarine procurement deal, as reported by Bloomberg, which cited claims by French prosecutors relating to the US$1.2 billion purchase. In a statement issued by his legal representatives, Messrs Shafee & Co, the former prime minister firmly rejected allegations that any funds connected to the deal were intended for him, or that he had received any unlawful payments. "The funds allegedly 'designed to remunerate Malaysian public decision-makers' are in no way linked to our client, Najib," the statement read, adding that the article itself noted "no evidence shows he received any of those payments." The legal team said that French prosecutors had not recommended Najib be charged or indicted, and that the Bloomberg report did not raise any issue of criminal liability against him. "Any insinuation to the contrary is entirely unfounded and lacks factual basis," the firm said. Bloomberg previously reported that French financial prosecutors alleged Najib had attended meetings with executives from defence firms to facilitate contracts related to the 2002 Scorpène submarine acquisition. It was claimed the contracts were designed to financially benefit key Malaysian figures, including Najib's then-adviser, Abdul Razak Baginda. A classified document cited in the report purportedly suggested that the contracts were structured to reward Najib and several others financially. These allegations stem from a wider investigation involving French defence companies Thales SA and DCN International — now part of the Naval Group, based in Paris. Najib's lawyers also dismissed claims that his alleged influence obstructed French investigators from accessing Malaysian documents, describing such assertions as speculative and illogical. They said that since 2018, Malaysia had experienced three separate administrations, all of which were politically opposed to Najib. "Throughout this period, the Malaysian Anti-Corruption Commission and various parliamentary committees have had full access to the Defence Ministry records and other official sources. "No document has ever been produced to implicate Najib — because none exists," the statement said. Addressing references to Najib's involvement in negotiations during the procurement process, the legal team said such engagement fell squarely within his duties as then defence minister. "To recast a ministerial role as evidence of wrongdoing — without proof of personal enrichment or unlawful conduct — is not only baseless, but a mischievous attempt to mislead public opinion." The firm said that the Bloomberg report presented no legal implications for Najib and amounts to a "non-issue" in terms of his legal standing.
Morocco World
03-03-2025
- Business
- Morocco World
Morocco to Reportedly Boost Navy with Two Military Submarines
Rabat – Morocco is reportedly planning to buy two submarines to bolster the country's navy, according to an article by the American magazine Military Africa. Two European shipbuilders are running to win the bid and deliver their latest state-of-the-art submarines to the North African country. Both France's Naval Group and Germany's ThyssenKrupp Marine Systems (TKMS) are showcasing their latest advancement in terms of submarine designs to win a deal with Rabat. France's shipbuilder Naval Group is pulling out all the stops, offering Morocco two Scorpène-class submarines while also vying for the concession to operate a new shipyard in Casablanca. Military Africa reported that the French group's Scorpène is 'incredibly stealthy and autonomous,' with a flexible design that can be customized to Morocco's needs. This advanced submarine can integrate the latest innovations, including lithium-ion batteries, increasing endurance and technological edge. The Scorpène is also equipped with an integrated French combat system and a fully automated centralized platform control system. This ensures a high level of diving safety with a smaller crew, making it ideal for coastal waters. The relationship between Naval Group and Morocco is already in place, as the country's Royal Armed Forces have been in talks with the group for a potential submarine contract since 2021. In 2014, the company delivered a multi-mission frigate to Morocco, further solidifying its presence in the country. 'By 2022, Naval Group will be the sole bidder to manage the future Casablanca shipyard, positioning it as a frontrunner in this competition,' Military Africa wrote. On the other side, Germany's TKMS is also bringing its submarine technologies to the table with the HDW Class Dolphin AIP submarine and the HDW Class 209/1400mod. Read also: Defense: Morocco Invests in Accelerating Shift from Importer to Manufacturer TKMS' Dolphin delivers 'high operational value' with an integrated fuel cell system that significantly boosts submerged endurance, featuring a state-of-the-art combat system, and a versatile weapon expulsion system capable of launching torpedoes, missiles, and mines. Although with an older design, the HDW Class 209/1400mod remains a reliable and proven option, adding depth to Germany's bid, according to the magazine. The news comes as the North African country is working to enhance its military capabilities to improve its ability to respond to various security challenges and protect its territorial integrity. Morocco increased its defense budget for 2025 to over MAD 133 billion (approximately $13 billion), as part of a strategy to strengthen its military capabilities in the face of rising regional tensions. Tags: Morocco navyMorocco's militarySubmarine
