
Kyiv ramps up drone production following cuts in foreign military aid
Ukraine is ramping up domestic drone production with a goal of producing millions more units each year. Drones have become an increasingly critical component of the war with Russia. While Ukraine has relied on allies for military aid since Moscow's full-scale invasion, it hopes to eventually export drone technology - an effort that could fit in well with Europe's plans to boost its own defenses. William Denselow reports.
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Man City sign Dutch midfielder Reijnders ahead of Club World Cup
Manchester City confirmed the signing of midfielder Tijjani Reijnders from AC Milan on a five-year contract on Wednesday and said the Netherlands international will be available for this month's Club World Cup. Financial details were not released but a City team source has put the transfer fee at 55 million euros ($62.85 million). "City are one of the biggest teams in the world, with the best coach, world-class players and outstanding facilities. Under Pep Guardiola, City have won so many titles, and I want to help keep that going with a lot more success in the coming years," Reijnders said in a statement. "It is also a dream come true to play in the Premier League. This league has seen many of the best Dutch players perform through the years and it's an inspiration to follow in their footsteps. " The 26-year-old, who has been capped 23 times, joined Milan in 2023 on a five-year contract before extending it until 2030 in March. He made 104 appearances for the club in all competitions, winning the Italian Super Cup and was named Serie A's best midfielder last season. "He arrives here with extensive top-level experience in Europe both at club level as well as on the international stage with the Netherlands," City's Director of Football Hugo Viana said. Reijnders is City's fourth addition of the transfer window after left back Rayan Ait-Nouri, winger Rayan Cherki and goalkeeper Marcus Bettinelli. The expanded 32-team Club World Cup runs from June 14 to July 13 in the United States with $1 billion in prize money at stake. ($1 = 0.8751 euros)


CNA
3 hours ago
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AirAsia close to buying at least 100 Airbus jets in shift to A220, sources say
PARIS :AirAsia is in advanced discussions to place an order for at least 100 Airbus jets at next week's Paris Airshow, a deal likely to mark the introduction to its fleet of the planemaker's smallest jet, the A220, industry sources said.


CNA
11 hours ago
- CNA
Treasury chief returns to US as China trade talks ongoing
LONDON: US Treasury Secretary Scott Bessent on Tuesday (Jun 10) described closely watched trade talks with Chinese officials as productive, as scheduling conflicts prompted his departure from London with negotiations ongoing. Top officials from the world's two biggest economies held a second day of trade talks Tuesday at the UK's historic Lancaster House, with meetings stretching into the night. All eyes are on the outcomes as both sides try to overcome an impasse over export restrictions, with US officials earlier accusing Beijing of slow-walking approvals for shipments of rare earths. Bessent left the meetings early to return to Washington for testimony before Congress, a US official told AFP. But US Commerce Secretary Howard Lutnick and trade envoy Jamieson Greer, who were also part of the delegation, would further talks as needed with Chinese counterparts, the official said. Earlier on Tuesday, Lutnick told Bloomberg Television that the negotiations were "going well". Global stock markets were on edge, although Wall Street's major indexes climbed on hopes for progress. With meetings dragging on, "the lack of positive headlines weighed on stocks," said Kathleen Brooks, research director at XTB trading platform. The London negotiations follow talks in Geneva last month, which saw a temporary agreement to lower tariffs. This time, China's exports of rare earth minerals - used in a range of things including smartphones, electric vehicle batteries and green technology - are expected to dominate the agenda. "In Geneva, we had agreed to lower tariffs on them, and they had agreed to release the magnets and rare earths that we need throughout the economy," Trump's top economic adviser, Kevin Hassett, told CNBC on Monday. Even though Beijing was releasing some supplies, "it was going a lot slower than some companies believed was optimal", he added. "Our expectation is that after the handshake, any export controls from the US will be eased, and the rare earths will be released in volume," Hassett said. "MIRROR ARSENAL" Both countries "have developed almost a mirror arsenal of trade and investment weapons that they can aim at each other," said Emily Benson, head of strategy at Minerva Technology Futures. As they tap economic tools to try and shift global power structures, she told AFP, it may not be reasonable to expect a typical trade and investment deal from talks. But both sides could find ways to level off a downward spiral. Tensions between Washington and Beijing have heightened since Trump took office in January, with the countries engaging in a tariffs war. The Geneva pact temporarily brought new US tariffs on Chinese goods down from 145 per cent to 30 per cent, and Chinese countermeasures from 125 per cent to 10 per cent. But Trump later said China had "totally violated" the deal. A dialing-down of temperatures could involve Chinese efforts to shore up some export control licenses caught in their system, Benson said. She noted Beijing appeared understaffed given the volume of requests. On the US side, this could look like a relaxation of certain export curbs in the high-tech domain, she added. But observers remain cautious. "We doubt that the US will back off completely. That's likely to restrain any relief rally," said Thomas Mathews, head analyst of Asia Pacific markets for Capital Economics. Since returning to office, Trump has slapped a 10 per cent levy on friend and foe, threatening steeper rates on dozens of economies. His tariffs have dented trade, with Beijing data showing Chinese exports to the United States plunged in May. The World Bank on Tuesday joined other international organisations to slash its 2025 global growth forecast amid trade uncertainty. Meanwhile, China is in talks with partners including Japan and South Korea to try to build a united front countering Trump's tariffs. Chinese Vice Premier He Lifeng is heading the team in London, which includes Commerce Minister Wang Wentao and China International Trade Representative Li Chenggang.