Latest news with #Thaad
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Tencent increases Korea music exposure ahead of China K-Pop move
TENCENT Holdings Ltd. is snapping up a nearly 10% stake in SM Entertainment Co. Ltd valued at about $180 million, marking a rare Chinese investment into a South Korean company in recent years. Tencent will buy the stake from BTS-agency Hybe Co Ltd., which is selling its remaining 2.2 million shares in SM Entertainment at 110,000 won each, a 15.3% discount to Tuesday's close, according to a regulatory filing. The move comes as China is widely expected to lift its nearly decade old unofficial ban on K-pop performances in mainland China. That potentially opens South Korean companies such as SM Entertainment to resume music distribution through the relationship with Tencent. Before the restrictions, China was among the fast growing markets for K-pop. China imposed the so-called 'K-wave ban' in 2016 in retaliation for South Korea allowing the US military to deploy missile defence system called Thaad, or Terminal High-Altitude Area Defense, in its soil. Tencent, China's gaming and social media leader, was not available for an immediate comment. For Tencent, the deal would mark its first major investment in South Korea's music industry in years. It owns a 4.3% stake in YG Entertainment Inc. and a 5.95% holding in Kakao Corp., South Korea's biggest Internet company which is also the largest shareholder of SM Entertainment. The selldown will bring an end to the bitter battle for the control of SM Entertainment. Hybe and Kakao Corp sought to buy SM Entertainment in 2023, in what would have been one of the country's biggest media sector deals. But Hybe dropped its pursuit of SM after the bidding war pushed up the SM stock price and making it too expensive. The deal also resulted in Kakao founder Brian Kim getting caught up in the regulatory cross hairs, over charges that he allegedly tried to manipulate the SM Entertainment shares. Kim has repeatedly denied any wrongdoing. South Korean entertainment stocks have been among the biggest gainers in the Korean equity market this year, driven by expectations they will be shielded from tariff wars. The rally is also underpinned by expectations of China lifting its K-pop ban. SM Entertainment shares have rallied 72% so far this year while YG Entertainment Inc. jumped 77%. Hybe said in a statement it divested non-core assets and the proceeds will be used to fund future growth. –BLOOMBERG
Yahoo
21-05-2025
- Business
- Yahoo
Trump rolls out Golden Dome missile defense project and appoints leader
Donald Trump announced on Tuesday that his administration will move forward with developing the so-called 'Golden Dome' missile defense system that he envisions will protect the United States from possible foreign strikes using ground and space-based weapons. Flanked by the US defense secretary, Pete Hegseth, in the Oval Office, Trump also said that he wanted the project to be operational before he left office. He added that Republicans had agreed to allocate $25bn in initial funding and Canada had expressed an interest in taking part. 'Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world, and even if they are launched from space,' Trump said, 'forever ending the missile threat to the American homeland.' Related: US army parade could cost up to $45m and involve 6,600 soldiers What exactly the Golden Dome will look like remains unclear. Trump has not yet decided which of three options proposed by the defense department he wants to pursue. Pentagon officials recently drafted three proposals – small, medium and large – for Trump to consider. The proposals all broadly combine ground-based missile interceptors currently used by the US military with more ambitious and hi-tech systems to build a space-based defense program. The option that Trump chooses will determine its timeline and cost. The $25bn coming from Republicans' budget bill is only set to cover initial development costs. The final price tag could exceed $540bn over the next two decades, according to the congressional budget office. Trump said on Tuesday evening that he had settled on 'architecture' for the project and suggested the total cost of putting it into service would reach $175bn, but gave no specifics. Gen Michael Guetlein of the US Space Force will oversee implementation of the project, Trump said. The selection of Guetlein, the vice-chief of space operations, means the elevation of a four-star general widely seen at the Pentagon to be competent and deeply experienced in missile defense systems and procurement. The project is expected to end up largely as a partnership with major defense contractors, including Elon Musk's SpaceX, given it has the capacity to manufacture rockets to launch military payloads into orbit and satellites that can deliver next-generation surveillance and targeting tools. It will also rely on companies that manufacture ordnance currently used by the US military. The project's baseline capabilities are set to depend on existing systems including the Thaad and Aegis Ashore systems made by Lockheed Martin and Patriot surface-to-air missiles made by Raytheon. Golden Dome came into existence because Trump believes that the US should have a missile defense program to track and kill missiles headed towards domestic US targets, possibly sent by China, Russia, North Korea or other strategic foreign adversaries, similar to Israel's 'Iron Dome' program. Shortly after he took office again in January, Trump signed an executive order directing the Pentagon to develop proposals for a 'next-generation missile defense shield' in order to upgrade the US's missile defense capabilities, which he noted had not materially changed in 40 years. The order came as the defense department has become more concerned about the threat of long-range strikes from strategic adversaries. Last week, the Defense Intelligence Agency released an assessment that said China has about 400 intercontinental ballistic missiles, Russia has 350 and North Korea has a handful. Initially, the White House had named the options for a space-based missile defense system 'Moonshot Plus' and 'Moonshot Plus Plus'. They were later renamed by Hegseth to be called silver, gold and platinum-dome options based on the three tiers, two former Pentagon officials said.
TimesLIVE
25-04-2025
- Business
- TimesLIVE
US Congress Republicans seek $27bn for Golden Dome defence system in Trump tax bill
Republicans in the US Congress plan to introduce a sweeping $150bn (R2.8-trillion) defence package that will give an initial $27bn (R510bn) boost to President Donald Trump's controversial Golden Dome missile defence shield, according to a document and a congressional aide. The measure, which will be in addition to the approved $886bn (R16.7-trillion) national security budget for 2025, would also fund the building of 14 warships and lift homeland security spending. It will be part of Trump's sweeping tax cuts bill, which will cut taxes by about $5-trillion (R94.5-trillion) and add about $5.7-trillion (R107.7-trillion) to the federal government's debt over the next decade. The measure, details of which have not been previously reported, was designed to address the military's most pressing needs, Republican senator Roger Wicker, chair of the Senate armed services committee, told Reuters in an interview. He said it was focused on supercharging key areas such as naval shipbuilding, missile defence and space sensing and strengthening the country's military presence, particularly in the Indo-Pacific, part of a broader strategy to prevent conflict. 'Strength, particularly in the Indo-Pacific, will make China less eager to break the status quo, which has led to a vast global prosperity among people who've never had it before. This is part of a plan to prevent war,' Wicker said. Republican leaders of the House and Senate armed services committees hammered out the legislation that will be unveiled as soon as Friday night. The $27bn investment in Golden Dome will fund the building of more missile interceptors and the purchase of terminal high altitude area defence (Thaad) antiballistic missile batteries, according to the congressional aide. Thaad is made by Lockheed Martin.
Telegraph
07-04-2025
- Politics
- Telegraph
US ‘moves advanced missile system to Israel' as Iran war fears grow
America is understood to have delivered an advanced missile defence system to Israel ahead of Benjamin Netanyahu 's visit to Washington to discuss attacking Iran. Flight-tracking websites showed a C-5M Super Galaxy, the US's largest transport aircraft and capable of carrying the Terminal High Altitude Area Defence (Thaad) system, land at Nevatim airbase in southern Israel on Saturday and wait about eight hours before leaving. US media reported last month that defence officials had approved moving the system to the Middle East. If confirmed, it would mark the second Thaad system sent to Israel by America, the first having been put in place last year. It comes amid a rush of US military assets to the Middle East amid hostile rhetoric on Tehran from the White House. One carrier strike group is already operating in the region, while another is en route from Asia. A number of B-2 Spirit bombers, which can be armed with nuclear weapons, have also been sent to the Indian Ocean base of Diego Garcia, which is in range of Iran. Preventing Iran from obtaining a nuclear weapon is Israel's number one strategic priority, as well as being a key foreign policy aim for the Trump administration. Last week, Donald Trump threatened to bomb Iran and impose secondary tariffs if Tehran did not make an agreement with Washington over its nuclear programme. Iran said on Sunday that talks would be 'meaningless' if Mr Trump continued to threaten them. The theocracy, which claims its nuclear programme is for non-military use, is believed to have increased enrichment of uranium to 60 per cent purity, the only country in the world without a nuclear weapon to have done so. Behind the scenes in Israel there is concern among security officials of a deal that looks significant but does not, in reality, prevent Iran from obtaining a bomb – a so-called Singapore scenario, a reference to Mr Trump's high-profile, first-term summit with Kim Jong-un, after which North Korea retained its nuclear bombs. Israeli chiefs are said to be wary of allowing Iran to build up its capability while the US issues threats but takes no action. Mr Trump campaigned on a platform of ending wars, rather than starting them, and commentators believe his powerful vice-president, JD Vance, is instinctively opposed to striking Iran, as evidenced by the recent leaked Telegram messages in relation to strikes on the Houthis. Meanwhile, it has been reported for months now that Israeli military chiefs believe they have the capability to destroy Iran's nuclear enrichment facilities and deal a devastating blow to its stockpiles. However, in practice, Israel would need a green light from Washington. Such an attack, even if conducted unilaterally, would require coordination with the US. It would also need special US bunker-busting bombs that Washington has never before given to Israel, and the potential use of American refuelling aircraft. The Jewish state would also want US help to fend off retaliatory Iranian missile and drone barrages on Israeli cities and infrastructure. Thaad batteries integrate well into Israel's already state-of-the-art missile defence systems and there are believed to be about 100 US troops in Israel to operate them. The system comprises six truck-mounted launchers, with eight interceptors on each launcher. It costs more than $1 billion per unit, can intercept targets up to 124 miles away and has had a near-perfect success rate during trials. However, for a massive Iranian bombardment of the type experienced twice last year, Israel would ideally require US help in the form of intelligence, radar, fighter jets and naval surface-to-air missiles. Finally, the real-terms goal of a preemptive strike on Iran would be to drive it to accept a strict regime of weapons inspections, a deal that would require US involvement. Mr Netanyahu's hastily arranged visit to Washington on Monday is ostensibly to discuss US trade tariffs on Israel – the White House imposed 17 per cent, despite a last-minute Israeli scramble to remove import duties on American goods – and the war in Gaza and return of the hostages. However, Mr Netanyahu's office said the 'Iranian threat' was also on the agenda. A press conference in the East Wing of the White House will follow the talks. The last time the two men met in Washington, Mr Trump stunned the world – and, apparently, Mr Netanyahu – by revealing his vision of a ' Middle East Riviera ' for Gaza. On Monday, following the signing of a France-Egypt strategic partnership, Emmanuel Macron repeated France's opposition to any displacement of the Palestinians in Gaza, or annexation of the West Bank. He also reiterated his concerns over Iran's nuclear programme. 'Negotiations would be meaningless' Dr Raz Zimmt, an Iran expert, told the Yedioth Ahronoth newspaper that Iran believes it can achieve an agreement 'between the current situation and the previous nuclear agreement ' – which Mr Trump scrapped because he said it was too soft. The academic said: 'A clear red line is dismantling infrastructure, and I anticipate that if [Ayatollah Ali] Khamenei comes to face a choice between a military attack and dismantling the nuclear infrastructure – he will prefer a military attack.' Abbas Araghchi, the Iranian foreign minister, said on Sunday that 'direct negotiations would be meaningless with a party that constantly threatens to resort to force in violation of the UN Charter and that expresses contradictory positions from its various officials'. 'We remain committed to diplomacy and are ready to try the path of indirect negotiations,' Araghchi added. 'Iran keeps itself prepared for all possible or probable events, and just as it is serious in diplomacy and negotiations, it will also be decisive and serious in defending its national interests and sovereignty.'
Yahoo
07-04-2025
- Politics
- Yahoo
US ‘moves advanced missile system to Israel' as Iran war fears grow
America is understood to have delivered an advanced missile defence system to Israel ahead of Benjamin Netanyahu's visit to Washington to discuss attacking Iran. Flight-tracking websites showed a C-5M Super Galaxy, the US's largest transport aircraft and capable of carrying the Terminal High Altitude Area Defence (Thaad) system, land at Nevatim airbase in southern Israel on Saturday and wait about eight hours before leaving. US media reported last month that defence officials had approved moving the system to the Middle East. If confirmed, it would mark the second Thaad system sent to Israel by America, the first having been put in place last year. It comes amid a rush of US military assets to the Middle East amid hostile rhetoric on Tehran from the White House. One carrier strike group is already operating in the region, while another is en route from Asia. A number of B-2 Spirit bombers, which can be armed with nuclear weapons, have also been sent to the Indian Ocean base of Diego Garcia, which is in range of Iran. Preventing Iran from obtaining a nuclear weapon is Israel's number one strategic priority, as well as being a key foreign policy aim for the Trump administration. Last week, Donald Trump threatened to bomb Iran and impose secondary tariffs if Tehran did not make an agreement with Washington over its nuclear programme. Iran said on Sunday that talks would be 'meaningless' if Mr Trump continued to threaten them. The theocracy, which claims its nuclear programme is for non-military use, is believed to have increased enrichment of uranium to 60 per cent purity, the only country in the world without a nuclear weapon to have done so. Behind the scenes in Israel there is concern among security officials of a deal that looks significant but does not, in reality, prevent Iran from obtaining a bomb – a so-called Singapore scenario, a reference to Mr Trump's high-profile, first-term summit with Kim Jong-un, after which North Korea retained its nuclear bombs. Israeli chiefs are said to be wary of allowing Iran to build up its capability while the US issues threats but takes no action. Mr Trump campaigned on a platform of ending wars, rather than starting them, and commentators believe his powerful vice-president, JD Vance, is instinctively opposed to striking Iran, as evidenced by the recent leaked Telegram messages in relation to strikes on the Houthis. Meanwhile, it has been reported for months now that Israeli military chiefs believe they have the capability to destroy Iran's nuclear enrichment facilities and deal a devastating blow to its stockpiles. However, in practice, Israel would need a green light from Washington. Such an attack, even if conducted unilaterally, would require coordination with the US. It would also need special US bunker-busting bombs that Washington has never before given to Israel, and the potential use of American refuelling aircraft. The Jewish state would also want US help to fend off retaliatory Iranian missile and drone barrages on Israeli cities and infrastructure. Thaad batteries integrate well into Israel's already state-of-the-art missile defence systems and there are believed to be about 100 US troops in Israel to operate them. The system comprises six truck-mounted launchers, with eight interceptors on each launcher. It costs more than $1 billion per unit, can intercept targets up to 124 miles away and has had a near-perfect success rate during trials. However, for a massive Iranian bombardment of the type experienced twice last year, Israel would ideally require US help in the form of intelligence, radar, fighter jets and naval surface-to-air missiles. Finally, the real-terms goal of a preemptive strike on Iran would be to drive it to accept a strict regime of weapons inspections, a deal that would require US involvement. Mr Netanyahu's hastily arranged visit to Washington on Monday is ostensibly to discuss US trade tariffs on Israel – the White House imposed 17 per cent, despite a last-minute Israeli scramble to remove import duties on American goods – and the war in Gaza and return of the hostages. However, Mr Netanyahu's office said the 'Iranian threat' was also on the agenda. A press conference in the East Wing of the White House will follow the talks. The last time the two men met in Washington, Mr Trump stunned the world – and, apparently, Mr Netanyahu – by revealing his vision of a 'Middle East Riviera' for Gaza. On Monday, following the signing of a France-Egypt strategic partnership, Emmanuel Macron repeated France's opposition to any displacement of the Palestinians in Gaza, or annexation of the West Bank. He also reiterated his concerns over Iran's nuclear programme. Dr Raz Zimmt, an Iran expert, told the Yedioth Ahronoth newspaper that Iran believes it can achieve an agreement 'between the current situation and the previous nuclear agreement' – which Mr Trump scrapped because he said it was too soft. The academic said: 'A clear red line is dismantling infrastructure, and I anticipate that if [Ayatollah Ali] Khamenei comes to face a choice between a military attack and dismantling the nuclear infrastructure – he will prefer a military attack.' Abbas Araghchi, the Iranian foreign minister, said on Sunday that 'direct negotiations would be meaningless with a party that constantly threatens to resort to force in violation of the UN Charter and that expresses contradictory positions from its various officials'. 'We remain committed to diplomacy and are ready to try the path of indirect negotiations,' Araghchi added. 'Iran keeps itself prepared for all possible or probable events, and just as it is serious in diplomacy and negotiations, it will also be decisive and serious in defending its national interests and sovereignty.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
