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    European Union sues IBM and two European companies over troubled border system: Report

    The European Union has initiated legal proceedings against IBM, Atos, and Leonardo for delays in the Entry/Exit System. EU-Lisa reported these delays occurred during the system's development, not affecting its operation. The consortium was awarded a contract in 2019 for implementation and maintenance. In a letter from October 2021, the companies contested a fine imposed on them. They cited external factors like the COVID-19 pandemic as reasons for the delays.

    US Pilot waited 11 years to draw giant GTA 6 artwork in sky for 8 hours; his sky art goes viral. Who's the man behind it?

    In a stunning display of aerial artistry, pilot Benjamin McDaniel, dubbed The Pilot Picasso, spent over eight hours crafting a grand sky drawing in Arkansas, influenced by the popular video game Grand Theft Auto VI. His meticulous flight path featured iconic elements such as the game's logo, lush palm trees, and a helicopter, showcasing his skill and dedication to safety.

    How are global stock markets reacting to the US midterm election results?

    Following the midterm elections where Democrats took control of both Congressional chambers, global stock markets felt the impact. Initial hesitation in European stocks soon gave way to strength, driven by financial sector gains. Precious metals experienced a notable uptick, but defense stocks reeled from concerns over military expenditures. In Asia, markets showed volatility, underscoring investors' adaptative strategies to the altering political scenario.

    HAL, BEL, Paras Defence, other stocks rise up to 4% after DAC clears proposals worth Rs 2.12 lakh crore

    India’s Defence Acquisition Council approved defence procurement proposals worth ₹2.12 lakh crore, with 82% expected from domestic industry. The clearances cover helicopters, drones, air-defence systems, artillery and naval platforms, supporting military modernisation. Defence stocks may gain investor attention, while indigenous manufacturing, rising capital expenditure and policy support strengthen long-term sector growth prospects.

    Defence Ministry clears ₹2.12 lakh crore military acquisitions, including 200 helicopters

    The Defence Acquisition Council has approved various acquisition proposals for the Indian armed forces, amounting to ₹2.12 lakh crore. This includes the procurement of 323 K9 Vajra artillery guns and 200 Light Multi-Role Helicopters. Additional equipment, such as Very Short-Range Air Defence Systems and long-range surveillance drones, will also be acquired. The Indian Air Force will receive 24 Special Utility Helicopters for VVIP transport and new radar systems.

    Drones, guns, helicopters: DAC clears Rs 2.12 lakh crore defence buys

    On October 26, the Defence Acquisition Council granted Acceptance of Necessity for various capital acquisition proposals. The total worth of these proposals is approximately Rs 2,12,000 crore for the armed forces. A significant portion, about 82%, will be sourced from the Indian industry to promote domestic procurement. The approved procurements encompass a diverse array of platforms and weapons for all three armed forces.

    The Economic Times
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