logo
Thales takes a key role in industrial drone project

Thales takes a key role in industrial drone project

Tahawul Tech3 days ago
Thales is planning to take part in Finnish drone project to deploy unmanned aerial vehicles across a variety of industrial sectors.
The French multinational is set to provide the Technical Research Centre of Finland (VTT) with an unmanned traffic management system (UTM) to handle flight authorisation, geographic information and network identification, and traffic information services.
Thales explained its UTM is the first step VTT is taking in Drolo 2, a project to develop and deploy automated drone systems.
Work is initially focused on U-Space Finland, a set of regulatory frameworks covering unmanned aerial vehicles (UAVs) which forms part of wider European initiatives to enable drone operations.
Thales stated the frameworks could pave the way for drones to be used in fields spanning 'logistics, agriculture, forestry, airport and construction operations'. Another element of the work involves creating a business environment for the UAV industry, with an overarching goal of putting Finland in the vanguard of drone launches and testing in compliance with European regulations.
A testing site is located near the city of Oulu, which Thales explained is an ideal proving ground due to having a 'medium-sized international airport, seaport, inhabited island', a mid-sized city centre and a 5G development centre.
Source: Mobile World Live
Image Credit: Stock Image
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Acwa Power signs pacts to export renewable energy and green hydrogen to Europe
Acwa Power signs pacts to export renewable energy and green hydrogen to Europe

The National

time6 hours ago

  • The National

Acwa Power signs pacts to export renewable energy and green hydrogen to Europe

Saudi Arabia's Acwa Power has signed preliminary agreements to export renewable energy and green hydrogen to Europe under the India-Middle East-Europe Economic Corridor (IMEC) project. A multi-party deal was signed by Acwa Power with Italy's Edison, France's TotalEnergies Renewables, Zhero Europe from Netherlands and Germany's EnBW, Saudi Arabia's Ministry of Energy said on Sunday. "This deal establishes a collaborative framework to assess the market demand and feasibility of developing large-scale renewable energy projects dedicated for export in Saudi Arabia and the creation of a corridor to deliver generated electricity to Europe," it said. Acwa Power also signed individual pacts with companies involved in the development of electricity corridors, including technical consultant Cesi (Italy) and HVDC technology and cable providers Prysmian (Italy), GE Vernova, Siemens Energy (Germany) and Hitachi (France). "These agreements aim to develop advanced energy transmission corridors that enhance supply reliability and the efficiency of cross-border energy infrastructure," the ministry said. A joint development agreement was also signed with EnBW to collaborate on the first phase of the Yanbu Green Hydrogen Hub, which is planned to be ready for commercial operations by 2030. The hub seeks to be a fully integrated base with its own captive electricity generation from renewable sources, desalination plants to support its hydrogen electrolysis and ammonia conversion facilities, and an export terminal. The project leverages Saudi Arabia's potential to develop renewable energy at competitive rates and supply global industrial demand, the ministry said. The latest pacts, which were signed in Riyadh, are part of the IMEC, which was announced during the G20 summit in 2023. The project consists of an eastern route connecting India to the Gulf and a northern pathway connecting the Gulf to Europe. The cross-border, ship-to-rail transit corridors are expected to reduce shipping costs across the network and support trade in goods and services to, from and between the UAE, Saudi Arabia, India and Europe. The combined exports from these regions are projected to account for 44 per cent of global trade by 2030. Acwa Power, backed by Saudi Arabia's sovereign wealth fund, the Public Investment Fund, is one of the largest renewable energy developers in the Middle East. It currently has operations in 14 countries across the Middle East, Africa, and Central and South-east Asia. It is an investor in and operator of 101 power generation and water desalination projects in operation, construction and advanced development with an overall portfolio size of about $107.5 billion as of February. Last week, Saudi Arabia signed agreements worth more than 31 billion riyals ($8.3 billion) for seven renewable energy projects with an Acwa Power -led consortium to boost the kingdom's green energy capacity. In February, Acwa Power also signed a preliminary agreement with the German company Securing Energy for Europe (Sefe) to produce and supply green hydrogen to Europe. Under the pact, Acwa Power and Sefe will establish a hydrogen bridge between Saudi Arabia and Germany, with an initial target of supplying 200,000 tonnes of green hydrogen annually by 2030. Acwa Power will act as the lead developer, investor, and operator of green hydrogen and green ammonia production assets. Sefe will be a co-investor and the primary off-taker to market the green hydrogen to its German and European customers, the companies said at the time. The Saudi company is also a partner in the $5 billion Neom Green Hydrogen project, the world's largest, which is expected to be completed next year. The other venture partners are Neom and the US-based Air Products, which has secured an off-take agreement for all the green ammonia produced at the site.

Foreign investors are warming to London's unloved stocks
Foreign investors are warming to London's unloved stocks

Khaleej Times

time10 hours ago

  • Khaleej Times

Foreign investors are warming to London's unloved stocks

Britain's stock market finally appears to be reversing years of underperformance against the rest of Europe, as a UK/U.S. trade deal, lighter regulation and cheap stocks deliver juicy returns that are starting to attract foreign investors. The FTSE 100 has gained nearly 10% this year to hit record highs this week, beating the STOXX 600, which is up 7.5%. On a year-to-date basis, London's blue-chip index has performed better than its European counterpart for the last six weeks, its longest such stretch since late 2022, when a weak pound beefed up revenues for the export-focused FTSE. This week, the financial regulator said it will roll out new rules to boost Britain's capital markets, while Chancellor Rachel Reeves told the financial industry to paint a less negative picture of UK stocks for would-be retail investors, as she seeks new ways to revive a stagnating economy. For foreign investors, the blue-chip index is already looking appealing given sterling's rally this year, while asset managers say the narrative around the UK is shifting. "We are seeing signs of big asset allocators coming back to the UK," Justin Onuekwusi, chief investment officer at St. James's Place. "I am talking about non-UK endowments, pension funds, asset owners, wealth managers who were all very underweight the UK post-Brexit," he said. In dollar terms, the FTSE-100 is up nearly 18% so far this year, set for the biggest dollar-denominated returns since 2009, compared with a 6% year-to-date gain in the SP 500, which has also hit record highs. The pound, up 7% this year against the dollar as investors turn away from U.S. assets in response to heightened U.S. policy uncertainty under U.S. President Donald Trump, acts as a headwind for FTSE constituents, 80% of whom get their revenues from overseas. Yet the index's wealth of large defensive companies, including healthcare, utilities and food retailers, help insulate it against swings in the underlying economy, like drugmaker AstraZeneca or supermarket chain Tesco It also has growth-sensitive resource stocks such as Anglo American and BP to tap into strength in oil, copper and gold. Britain meanwhile is one of the few economies facing less trade uncertainty with a U.S. trade deal in place. In contrast, the European Union faces the threat of 30% tariffs if there is no agreement by August 1. 'Tea and biscuit' "The UK stock market is the calming cup of tea and biscuit in an uncertain world. There's nothing fancy on offer, just reliable names that do their job day in, day out," AJ Bell investment analyst Dan Coatsworth said. Valuations for FTSE-100 companies have lagged those elsewhere in Europe for years. The 2016 Brexit vote accelerated that trend, with fewer companies using London to list their shares and fewer cropping up as MA targets, given the political and economic uncertainty that prevailed at the time. Now the UK market is catching up. The FTSE-100's 12-month forward price-to-earnings ratio of 12.5 is the highest for around five years, compared with 14.11 for the STOXX, the narrowest gap in around 18 months, LSEG data shows. The SP trades at a ratio of 23, a near-10 point premium to the FTSE, compared with under 2 points 10 years ago. "The relatively poor performance we've seen in the UK versus particularly the U.S. over the past two years has begun to unwind. We're in the foothills of that," Michael Stiasny, head of UK Equities, MG Investments, said, adding that the UK market has traded at a "significant discount". The pound is close to a four-year high against the dollar, but has weakened against the euro this year, offering a tailwind to the FTSE's big exporters. The EU is Britain's largest trading partner, accounting for 41% of exports in 2024, followed by the United States, with 22%, according to official data. It isn't all rosy. The British economy is flagging, inflation is well above the Bank of England's target of 2% and business activity and employment are slowing. Barclays data shows UK equities have seen a net outflow of $20 billion in 2025, although outflows have almost dried up in the last month, compared with Europe's year-to-date inflow of $13 billion and rapidly slowing inflows. Sebastian Raedler, head of European equity strategy and Bank of America Merrill Lynch, said he felt the FTSE's strong run was a function of the currency and in line with the rest of Europe. "Net-net, the FTSE has mildly outperformed, but I would say in an environment where there are a lot of big stories ... a 2% (out)performance of the UK this year would rank further down the radar from my perspective," he said, referring to the percentage gain in the FTSE in 2025 versus that of the STOXX.

NBK marks milestone with $800mln additional Tier 1 Bond listing on the London Stock Exchange
NBK marks milestone with $800mln additional Tier 1 Bond listing on the London Stock Exchange

Zawya

time15 hours ago

  • Zawya

NBK marks milestone with $800mln additional Tier 1 Bond listing on the London Stock Exchange

The listing underscores NBK's deep-rooted relationship with one of the world's most prominent stock exchanges Robust investor appetite reflects global confidence in NBK's strong credit fundamentals and regional leadership National Bank of Kuwait (NBK) celebrated the listing of its US$800 million Additional Tier 1 bond on the London Stock Exchange. This milestone highlights the Bank's strong and growing presence in global capital markets and reaffirms NBK's expansive global footprint, with a branch network spanning four continents across 13 countries. Among its key international markets, London holds strategic importance through National Bank of Kuwait (International) PLC (NBK - London), which delivers a full spectrum of banking products and services to its clientele. The listing ceremony took place at the London Stock Exchange—one of the world's leading financial marketplaces—with the participation of senior executives from NBK and NBKI (NBK-London), Leading the occasion were Mr. Zaid Al-Sager, Deputy CEO – International Banking Group at NBK; Mr. Meshari Bin Salamah, EVP - Global Head of Corporate Banking and Commercial Real Estate and Mr. Bassem Boustany, Managing Director of National Bank of Kuwait, London (NBK International) and Mr. Abdul Amir Fadel EVP - Global Head of Consumer Banking – IBG. The event underscores the Bank's strategic commitment to diversifying its funding base and reinforcing its footprint across international capital markets. The listing of the bonds on the London Stock Exchange reinforces NBK's ongoing commitment to deepening its long-standing relationships with leading global exchanges. It also reflects the growing confidence in the Bank's robust credit profile, as demonstrated by the consistently strong demand for its debt issuances across international markets. The successful issuance and listing of the bonds on the London Stock Exchange underscores NBK's leadership in the regional banking landscape and reflects its strategic vision for global expansion. It is a testament to the Bank's long-standing legacy of excellence, innovation, and prudent growth. This issuance marks the Bank's largest to date under this tranche, driven by robust investor demand that enabled an upsizing beyond initial expectations. Following a brief pause in GCC bond activity within the first tranche of additional capital—after a wave of issuances in May—NBK's transaction drew robust interest from a globally diversified investor base. Investor appetite for the issuance was exceptionally strong, with subscription orders reaching US$2.2 billion, representing a 2.75x oversubscription rate. Demand was driven by a broad and diversified base of global investors and financial institutions, with private banking platforms playing a pivotal role in the placement process. The results underscore investor confidence in NBK's robust credit profile and reaffirm Kuwait's standing as an appealing investment destination. MENA-based investors represented the largest share of the allocation, accounting for 47% of total demand, followed by investors from the United Kingdom at 19%, the United States at 18%, Europe at 13%, and Asia at 3%. By investor type, asset managers and investment funds accounted for 48% of total demand, followed by banks and private banking services at 44%, while sovereign entities, insurance companies, and pension funds represented the remaining 8% of total subscription applications. Robust investor demand enabled NBK to achieve highly favorable pricing for the issuance, with the final yield set at 6.375% (% (equivalent to UST+240.3bps), representing a 50 basis point tightening from the initial price thoughts (IPTs) of 6.875%. The investment-grade credit rating of the issuance, including a Baa3 rating from Moody's, further enhanced its appeal—driving strong interest from international private banking platforms and global asset managers. Citigroup, J.P. Morgan, HSBC, and Standard Chartered acted as Global Coordinators for the issuance, while the Joint Lead Managers included Citigroup, J.P. Morgan, HSBC, Standard Chartered, First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, KAMCO Investment Company, and National Bank of Kuwait.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store