Skip to content 
Search

Latest Stories

India buys Israeli missiles ahead of Netanyahu visit

India is to buy 131 surface-to-air missiles from Israel in a $70 million deal, the defence ministry announced Tuesday ahead of a visit by Israeli prime minister Benjamin Netanyahu.

The Barak missiles made by Rafael Advanced Defense Systems are to be used for India's first aircraft carrier which is under construction.


Netanyahu will lead a business delegation to India on a four day trip expected in mid-January. Israel has become a major defence supplier to India, selling an average of $1 billion of military equipment each year.

Last April the two countries signed a military deal worth nearly $2 billion which includes the supply over several years of medium-range surface-to-air missiles, launchers and communications technology.

It was unclear whether the deal announced Tuesday was part of that.

The Indian defence ministry also said it had approved the purchase of 240 bombs from Russia's JSC Rosonboron Exports for $188 million.

"This procurement will address the deficiency of precision-guided munitions in the IAF (Indian Air Force) arsenal, besides enhancing the offensive capabilities of the IAF," it said in a statement.

India, which has longstanding territorial disputes with neighbours China and Pakistan, has signed several big-ticket defence deals since prime minister Narendra Modi came to power in 2014.

It has however been moving away from relying on traditional ally Russia for military hardware.

More For You

Asian firm acquires Kings Court Hotel for £2.75m

UK-based Nanak Hotels acquired the 60-room Kings Court Hotel in Warwickshire for £2.75 million. (Photo: Colliers International UK)

Asian firm acquires Kings Court Hotel for £2.75m

UK-BASED Nanak Hotels recently acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for £2.75 million. This is the first regional acquisition by the privately held firm led by British Indians Harpreet Singh Saluja and Karamvir Singh.

Nanak Hotels, which operates a UK property portfolio, plans to invest in the property's refurbishment and repositioning, according to a statement from Colliers International UK, which brokered the transaction.

Keep ReadingShow less
Priya Nair becomes first woman CEO in Hindustan Unilever's history

Priya Nair (Photo: Unilever)

Priya Nair becomes first woman CEO in Hindustan Unilever's history

PRIYA NAIR has been appointed as the CEO and managing director of Hindustan Unilever Ltd (HUL), effective from August 1. She will be the first woman to lead the company in its history.

The announcement was made by HUL on Thursday (10). Nair, who currently serves as president, Beauty & Wellbeing at Unilever, will take over the role from Rohit Jawa, who will step down on July 31 to pursue other interests.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy shrinks again in May, hitting Labour’s growth plans

THE UK economy contracted unexpectedly in May, marking the second consecutive monthly decline, according to official data released on Friday. The figures present a challenge for the Labour government as it attempts to revive economic growth.

Gross domestic product fell by 0.1 per cent in May, following a 0.3 per cent contraction in April, the Office for National Statistics (ONS) said in a statement.

Keep ReadingShow less
SBI UK cuts mortgage rates

The bank's commitment to green lending reflects focus on sustainability (Photo: Getty Images)

SBI UK cuts mortgage rates

BANKING major State Bank of India (UK) has cut interest rates on its buy-to-let mortgage products to help landlords reduce borrowing costs.

The bank said the rate cuts would help landlords invest in rental properties and meet growing demand for rental homes across the UK.

Keep ReadingShow less