How UAE defence giant EDGE Group plans to double its exports
The UAE defence conglomerate has put an aggressive strategy in place to increase its share of exports while navigating the growing gap between East and West.
Wizz Air has announced that it plans to launch a new service between Lviv in Ukraine to Venice Treviso in Italy on 14 May.
Flights will initially operate twice a week on brand new Airbus 320s. Wizz Air already operates a flight between Kyiv and Venice Treviso which was launched in October 2009.
The UAE defence conglomerate has put an aggressive strategy in place to increase its share of exports while navigating the growing gap between East and West.
The US Congress has raised concerns about how inflation rates and cuts in main acquisition programmes could affect the US military.
Washington’s ageing inventory and the pace Moscow and Beijing have been modernising their capabilities put in check the US Nuclear deterrence.
The Pentagon has been operating under temporary funding since October 2023, which has impacted its main acquisition and development programmes, increasing the capability gap between the US and China.
In 2023, defence spending increased by an unprecedented 11% across European NATO countries and Canada. Since 2014, the group has spent an additional US$600 billion on defence.
The DoD requested nearly US$850 billion to fund operations over the next fiscal year. Despite the amount being 1% higher than the FY2024 budget request, it has not covered the 3% inflation rate, which could impact the DoD’s main programmes in the medium and long term.