Category: 3. Business

  • Rheinmetall Receives German Army Order for Tank Ammunition

    Rheinmetall Receives German Army Order for Tank Ammunition

    By Cristina Gallardo

    Rheinmetall said it received an order to supply tank ammunition to the German armed forces worth several hundred million euros.

    The German arms maker said Monday that the German armed forces placed an order for 120mm tank ammunition, as well as additional combat and training ammunition.

    This order comes under an existing framework contract signed in July 2023 between the German armed forces and Rheinmetall for the supply of tank ammunition with a total value of around 4 billion euros ($4.66 billion). The framework contract runs until the end of 2030.

    Write to Cristina Gallardo at cristina.gallardo@wsj.com

    (END) Dow Jones Newswires

    December 08, 2025 03:31 ET (08:31 GMT)

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  • A renewables-based energy system will save Europe trillions

    A renewables-based energy system will save Europe trillions

    Renewables are the cheapest form of power generation. But this doesn’t tell the full story. What about the costs of grids, storage and back-up ?

    WindEurope’s latest study done in cooperation with Hitachi Energy shows that even when accounting for the grids, storage and back-up, a system running on high shares of renewables is the cheapest by far.

    WindEurope and Hitachi Energy have mapped out the total system costs of 5 energy scenarios. 4 scenarios that deliver net zero and one ‘slow transition’ scenario where Europe does not meet its climate targets.

    Scenarios relying more heavily on nuclear, hydrogen or CCS would all be more costly than a renewables-based scenario. By 2050 the differences in costs range from €487bn to €860bn.

    And a renewables-based energy system is €1.6tn less expensive than a system where Europe fails to deliver on net zero. The €1.6tn difference is largely due to residual fuel costs and the costs of carbon in the slow transition scenario. Already by 2035 the renewables scenario saves €331bn compared to the slow transition scenario.

    The cumulative savings from running our energy system on renewables are equivalent to what Europe collectively spends on healthcare each year. And 9% of the European Union’s GDP.

    The renewables-based energy system entails a major increase in the share of electricity in the energy mix. And that electrification requires major investment, especially in heavy industry. We’ve factored this into the study. Even when accounting for investment in electrification a renewables-based scenario is the cheapest overall.

    A system based on high shares of renewables also ensures system stability and has a big energy security margin with energy production far outstripping demand.

    And a renewables-based energy system is the most resilient to external shocks such as the one we experienced following Russia’s invasion of Ukraine. Of all the scenarios the renewables scenario has the lowest dependency on energy fuel imports.  Energy fuel imports are only 22% of the total energy supply in 2050, compared to 54% in the slow transition scenario.

    A renewables-based energy system also comes with additional benefits. Jobs in particular. The European wind industry employs 440,000 people today and will employ 600,000 by 2030.

    There is no upside to diminished climate ambition. There is no upside to slow walking renewables.

    As the IEA said in its 2025 World Energy Outlook, we are in the Age of Electricity. And renewables are the best placed to deliver that. Let’s lean into it – this is our competitive edge as Europeans.

    This transition is already underway. As Europe looks ahead to 2050, it is revealing to think what our energy system looked like 25 years ago. Back in 2000 the share of wind and solar in Europe’s electricity was a combined 0.8%. It’s 30% today. And Europe’s emissions are down by nearly 1/3 on 2000 while the economy has grown 45%. Let’s build on this success.

    See the study

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  • China's car sales extend decline in November – Reuters

    1. China’s car sales extend decline in November  Reuters
    2. CPCA estimates China Nov NEV wholesale sales hit record 1.72 million units  CnEVPost
    3. Auto market stays firm ahead of policy change  China Daily
    4. AAC TECH Donates $2M to Support Tai Po Fire Relief  AASTOCKS.com
    5. Leapmotor sets a new sales record.  autogear.pt

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  • India's fuel demand hits six-month peak in November – Reuters

    1. India’s fuel demand hits six-month peak in November  Reuters
    2. Diesel Consumption Hits Six-Month High; Agricultural & EV-3W Segments Show Strength: Shriram Mobility Bulletin  Newspatrolling.com
    3. Truck Rentals on Major Routes Rise 6-11% YoY in November on Firm Freight Demand  KNN India
    4. Petrol sales slow in November while Diesel, ATF, LPG sales pick up speed  The Economic Times
    5. Diesel demand hits 6-month high in Nov on festive boost  The Times of India

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  • OTMEC initiative aims to bridge gaps in industrial cybersecurity in Middle East, North Africa

    OTMEC initiative aims to bridge gaps in industrial cybersecurity in Middle East, North Africa

    The Operational Technology Middle East Community (OTMEC) has officially launched as a regional initiative dedicated to enhancing ICS/OT cybersecurity across the Middle East and North Africa. The co-founders of the initiative include Reem Faraj AlShammari, Bryson Bort, Thomas VanNorman, Saltanat Mashirova, and Michael Hoffman. The advisory board includes Robert M. Lee and Tim Conway.

    OTMEC aims to foster vendor-neutral knowledge sharing, build and support the OT security workforce, and drive collaboration, innovation, and the protection of critical infrastructure. The community provides a platform for ICS and OT cybersecurity professionals in the region to exchange insights and best practices. It seeks to strengthen workforce training, encourage collaboration and innovation within the industry, and advocate for greater public awareness and robust cybersecurity policies related to critical infrastructure.

    The leadership detailed to Industrial Cyber that, before OTMEC, the region faced clear gaps, including siloed knowledge-sharing among asset owners, vendors, and national bodies. There was no region-wide, vendor-neutral OT/ICS-focused community. The OT workforce lacked mentorship pathways and structured development. Critical infrastructure sectors worked independently instead of exchanging lessons learned. Digital transformation and modernization were accelerating faster than security maturity.

    With backing from the co-founders, ICS Village, and Women in CyberSecurity Middle East (WiCSME), communities renowned for hands-on education, empowerment, and global collaboration, OTMEC positions the Middle East as a key driver of industrial cybersecurity excellence.

    They added, “Our long-term mandate extends beyond geography. Inspired by WiCSME’s global growth, OTMEC is building a five-year blueprint for how an OT community should operate globally, creating opportunity, shaping best practices, and raising awareness around the world.”

    The executives identified that the Middle East faces a unique combination of industrial intensity, rapid digital transformation, and elevated geopolitical threats, making OT and ICS cybersecurity especially critical. 

    OTMEC focuses on the core challenges that consistently emerge across the region. These typically include legacy, heterogeneous industrial systems that are difficult to patch, monitor, or secure consistently across large-scale operations. Rapid IT/OT convergence and IIoT expansion, which widen the attack surface and introduce new cyber-physical risks. Shortage of OT-experienced cyber professionals, leading to gaps in incident response, architecture design, and risk management.

    It also covers siloed approaches among operators, vendors, and regulators, limiting the region’s ability to respond cohesively to sophisticated threats. Lack of structured mentorship and community-driven knowledge transfer, especially for early-career professionals, and uneven awareness at executive and policy levels, meaning OT risks are not always treated with the urgency they require.

    “While not the core driver of today’s challenges, the region’s increasing adoption of AI-enabled monitoring, predictive maintenance, and digital twins introduces additional considerations around data integrity, system trust boundaries, and operational validation,” the leadership added. “OTMEC incorporates these developments into its dialogues and workforce initiatives to ensure organizations are future-ready. By aligning practitioners and decision-makers around shared challenges and solutions, OTMEC aims to elevate regional OT readiness, strengthen competency, and enhance industrial resilience across the Middle East.”

    OTMEC is intentionally designed as a collaboration engine that aligns the region’s entire OT ecosystem. This includes a vendor-neutral membership model open to practitioners, operators, vendors, regulators, and academia; technical workshops, training, and hands-on events, supported by ICS Village; partnerships with regional cybersecurity conferences, including the initiative’s launch at BlackHat MEA; and online collaboration channels enabling continuous discussion and cross-border knowledge exchange. 

    It also covers mentorship programs, inspired by WiCSME’s model, to grow the next generation of OT security professionals; working groups and advisory oversight to develop practical, community-driven guidance; and constructive engagement with national cyber authorities to help shape policies grounded in operational reality. 

    When it comes to measuring impact, the leadership pointed to community growth and diversity across sectors, disciplines, and countries; participation and outcomes from events, workshops, and training activities; workforce development metrics, including certifications, career progress, and mentorship results; and adoption of community-generated best practices within member organizations. It also includes engagement from regulators and national authorities, and feedback from operators demonstrating improved preparedness, visibility, and resilience. 

    “Ultimately, OTMEC’s success will be measured by whether our community strengthens industrial resilience, reduces operational risk, and advances regional and global standards for OT security,” the leadership added. “We want to evolve from a regional hub into a globally connected OT community shaping the future of industrial cybersecurity worldwide.”

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  • Unilever completes ice cream demerger with Magnum set to list – Reuters

    1. Unilever completes ice cream demerger with Magnum set to list  Reuters
    2. Initial admission to the Official List  marketscreener.com
    3. FTSE 100 Set to Fall, Pound Holds Steady  Bloomberg.com
    4. Magnum Ice Cream’s reference price for market debut set at 12.80 euros, Euronext says  KELO-AM
    5. demerger Archives  marketech apac

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  • Tieto Tech Consulting Traficom’s provider for testing services

    Tieto Tech Consulting Traficom’s provider for testing services

    The Finnish Transport and Communications Agency Traficom has selected Tieto Tech Consulting (Tietoevry Finland Oy) as the provider of comprehensive quality assurance and testing services following a competitive tendering process during the autumn. The scope of the agreement covers services throughout the entire lifecycle of software development and maintenance. The procurement consists of two phases: an implementation project and a continuous service.

    The contract period is five years, with two optional one-year extensions. The estimated value of the procurement over the full contract period is approximately EUR 24 million, with a total volume of around 28,000 person-days. Tieto Tech Consulting received the highest quality scores among the bidders.

    The service includes testing, development of quality assurance practices, and performance testing. The quality assurance and testing services will primarily target systems developed in-house by Traficom. Test automation will play an important role, with the goal of achieving at least 30% cost savings during the contract period. The service is designed to scale flexibly according to Traficom’s evolving needs.

    Traficom’s decision reflects strong trust in our expertise in quality assurance and testing – something we can be proud of. Together, we can enhance testing processes to be even more impactful by leveraging automation and scalable service models. Our goal is to ensure that the solutions effectively support the continuous development of Traficom’s digital services in a cost-efficient and sustainable way,” says Petteri Lahtinen, Country Lead, Tieto Tech Consulting, Finland

    Tieto Tech Consulting delivers agile and scalable digital development services that support business transformation and growth. This agreement further strengthens Tieto’s position as a trusted technology partner for the public sector.

    For more information, please contact: Tietoevry Newsdesk, news@tietoevry.com, tel. +358 40 570 4072

    Traficom: About Traficom | Traficom

    Tieto Tech Consulting is a global leader in design, data, and digital engineering services. Combining local expertise with the power of 9,000 global team members, we build tailored digital solutions that align with our customers’ business objectives and maximize their value. We make it our business to accelerate your business and together, we build the digital world of tomorrow.

    We are part of Tieto, a leading technology company with the annual revenue of approximately EUR 2 billion. Tieto’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs.

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  • Advancing India’s net-zero plans: New India–Sweden projects pioneer a greener future for steel and cement in India – Stockholm Environment Institute

    1. Advancing India’s net-zero plans: New India–Sweden projects pioneer a greener future for steel and cement in India  Stockholm Environment Institute
    2. Alfa Laval’s National Forum Calls Cleaner Technologies and Energy Efficiency Critical to Advancing India’s Net Zero Transition  Business Wire India
    3. DST Releases Landmark CCUS R&D Roadmap for Decarbonisation Push  Chemical Industry Digest
    4. India’s Net Zero Mission Accelerates with Technology, Collaboration in Focus  Punekar News
    5. India must capture carbon to unleash climate action  BusinessLine

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  • Yara confirms US ammonia strategy in line with capital allocation policy

    Yara confirms US ammonia strategy in line with capital allocation policy

    Yara and Air Products announced today (link: https://newsweb.oslobors.no/message/661437) advanced negotiations to partner on low-emission ammonia projects.

    Yara has matured a project portfolio for potential investment in cost competitive US ammonia to diversify its energy position and increase competitiveness of its European nitrate production, enabling robust returns.

    As emphasized in recent quarter releases, Yara will execute potential US projects in line with its capital allocation policy and the potential partnership with Air Products would be consistent with this. Yara has indicated an average capex level of approximately 1.2 billion USD (real) throughout the cycle, as well as an annual maintenance capex level between 700-850 million USD. During project execution 2026-2030 and up until the closing would take place, Yara will be restrictive on other growth projects, maintaining strict capital discipline and enabling shareholder distributions.

    A final investment decision is targeted mid-2026.

    Contact
    Maria Gabrielsen
    Head of Investor Relations
    M: +47 920 900 93
    E: maria.gabrielsen@yara.com

    About Yara

    Yara’s mission is to responsibly feed the world and protect the planet. We pursue a strategy of sustainable value growth through reducing emissions from crop nutrition production and developing low-emission energy solutions. Yara’s ambition is focused on growing a nature-positive food future that creates value for our customers, shareholders and society at large and delivers a more sustainable food value chain.

    To drive the green shift in fertilizer production, shipping, and other energy intensive industries, Yara will produce ammonia with significantly lower emissions. We provide digital tools for precision farming and work closely with partners at all levels of the food value chain to share knowledge and promote more efficient and sustainable solutions.

    Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. With 17,000 employees and operations in more than 60 countries, sustainability is an integral part of our business model. In 2024, Yara reported revenues of USD 13.9 billion.

    www.yara.com 
     

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  • Scatec signs equity partnership agreements for Obelisk in Egypt

    Scatec signs equity partnership agreements for Obelisk in Egypt

    Oslo/Cairo, 08 December: Scatec ASA, a leading renewable energy solutions provider, has signed shareholder agreements with Norfund, the Norwegian investment fund for developing countries and EDF power solutions, an international energy player which develops, builds and operates renewable and low-carbon energy production facilities, for an equity partnership in Scatec’s 1.1GW solar and 100MW/200MWh battery storage hybrid project, Obelisk in Egypt.

    “We are very pleased to continue our valuable collaborations with Norfund and EDF power solutions through these partnerships. Obelisk is Scatec’s largest project to start construction to date and combines solar and batteries to deliver stable and cost competitive renewable energy to support Egypt’s growing power demand and energy transition,” says Scatec CEO Terje Pilskog.

    Following the transaction, Norfund will own 25% of the Obelisk holding company with Scatec owning the remaining 75%. EDF power solutions will own 20% of the operating company (SPV), bringing Scatec’s and Norfund’s total economic interest to 60% and 20% respectively with Scatec retaining economic control of the power plant.

    Inviting equity partners at several ownership levels is part of Scatec’s strategy to enhance capital efficiency and increase value creation, while retaining control of the power producing entities. Scatec is in advanced discussions with additional equity partners, aiming to reduce Scatec’s economic interest in the project further.

    For further information, please contact:
    For analysts and investors:
    Andreas Austrell, SVP IR
    andreas.austrell@scatec.com
    +47 974 38 686

    For media:
    Meera Bhatia, SVP External Affairs & Communications
    meera.bhatia@scatec.com
    +47 468 44 959

    About Scatec 
    Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.2 GW in operation and under construction across five continents today. We are committed to growing our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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