- Centerstage Events

The U.S. House of Representatives passing a $95 billion legislative package to provide security assistance to Ukraine, Israel, and Taiwan takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 3

Lockheed Martin has secured a $17 billion contract to develop...

Lockheed Martin has secured a $17 billion contract to develop the Next Generation Interceptor (NGI) for defending the U.S. against intercontinental ballistic missile attacks. This contract comes as a boost after reduced F-35 orders and the Army's halt on a helicopter project. The U.S. Missile Defense Agency will formalize the multi-year deal, with the first interceptor expected by 2028. Lockheed's shares rose over 1% on the news. The NGI, currently in technology development, will advance to product development in May.

Sunday, 14 April, 2024

Argentina has signed a 2.1 billion kroner ($300 million) deal...

Argentina has signed a 2.1 billion kroner ($300 million) deal to purchase 24 F-16 Fighting Falcons from Denmark. As Denmark transitions to new F-35 jets, it is selling its nearly 40-year-old but well-maintained and upgraded F-16s to Argentina. The agreement, finalized at a Danish air force base, will integrate Argentina into the global F-16 family. The handover date is yet to be announced, with transfers expected in the coming years.

Monday, 15 April, 2024

Vietnam has initiated an unprecedented $24 billion rescue for Saigon...

Vietnam has initiated an unprecedented $24 billion rescue for Saigon Joint Stock Commercial Bank (SCB), engulfed in the nation’s largest financial fraud. Reports indicate that without this intervention, SCB would collapse, but continued lending could exhaust the national treasury. The State Bank of Vietnam has injected special loans to stabilize SCB following a massive fraud involving real estate tycoon Truong My Lan, whose arrest triggered a bank run. Deposits have plummeted, and bad loans have surged dramatically.

Tuesday, 16 April, 2024

The US vetoed a Palestinian request for full UN membership,...

The US vetoed a Palestinian request for full UN membership, blocking recognition of a Palestinian state. In the 15-member Security Council, the vote was 12 in favor, with the US opposed and two abstentions from the UK and Switzerland. The US emphasized that Palestinian statehood should result from direct negotiations. The veto drew condemnation from the Palestinian presidency, Egypt, and Hamas, while Israel praised the decision. Palestinians currently hold non-member observer status at the UN.

Wednesday, 17 April, 2024

Tesla, Inc. is recalling 3,878 Cybertrucks due to accelerator pedal...

Tesla, Inc. is recalling 3,878 Cybertrucks due to accelerator pedal safety concerns. The pedals risk getting trapped by interior trim, potentially causing unintended acceleration and increasing crash risks. The recall affects vehicles produced between November 2023 and April 2024. Tesla will fix the issue for free and states that pressing the brake will override the accelerator. This comes amid falling sales, increased competition, and previous recalls for other safety defects. Tesla has not reported any collisions, injuries, or deaths related to this issue.

Thursday, 18 April, 2024

The U.S. House of Representatives has passed a $95 billion...

The U.S. House of Representatives has passed a $95 billion legislative package to provide security assistance to Ukraine, Israel, and Taiwan. The bill, which garnered strong bipartisan support, is expected to become law soon after Senate approval and President Biden's signature. The package includes $5.2 billion for Israel's missile defense, $3.5 billion for advanced weapons systems, $1 billion to boost weapons production, and $9.2 billion for humanitarian aid, excluding funds for UNRWA due to allegations of Hamas involvement.

Friday, 19 April, 2024

Over 13 million Ecuadorians are voting today in a referendum...

Over 13 million Ecuadorians are voting today in a referendum focusing on security issues that could impact President Daniel Noboa's political future. Noboa, the youngest president in Ecuador's history, has aggressively targeted crime since taking office last November. The referendum includes 11 questions, with key proposals to allow military-police patrols, extradition of Ecuadorians, and increased penalties for violent crimes. The vote indicates public support for Noboa's tough-on-crime policies and his potential re-election in 2025.

Saturday, 20 April, 2024