-
FCNR(B) deposit drive puts sharper margin pressure on private banks
-
Gold ETF flows turn negative after 13 weeks as bullion loses 4%
-
Noel Tata requests records of September 17 Tata Sons board meeting
-
Pakistan's last antique restorers give old treasures new life
-
Reparations calls to dog King Charles's tough Caribbean trip
-
India braces for Cyclone Arnab with evacuations
-
Global rates and foreign outflows remain key risks for Indian markets
-
Steel Strips Wheels gains 36% in two sessions on growth outlook
-
Neha Nagar says ₹3 crore can fund retirement with disciplined planning
-
Cavs edge T'Wolves in overtime despite superb Edwards
-
Vikas Satija says steady SIP flows shielded Indian equities from deeper losses
-
Prescott fires Cowboys to 38-21 win over plummeting Eagles
-
Brewers rout Rays to reach brink of World Series sweep
-
Kuwait padel chief hails national showing at Premier Padel Major
-
Mbappe dropped by Chinese brands for 'offending national sentiments'
-
Britain prepares constrained budget as debt and defence pressures mount
-
Kuwait exhibition presents Ukraine’s Islamic heritage and cultural ties
-
Valkyries beat Dream to reach brink of WNBA title
-
Tech firms track Wall St rally on mixed day for Asian markets
-
Benjamin Netanyahu: Israel's longest-serving PM fighting for survival
-
Jay-Z to perform at Super Bowl LXI halftime show: NFL
-
Kuwait receives invitation to 2026 UN Water Conference in Abu Dhabi
-
Climate-threatened Fijian utopia rejects calls to relocate
-
Arab World Institute president outlines plans for stronger Kuwait-France cultural links
-
Israel to give verdict on Netanyahu in pivotal election
-
Bolsonaro's party says it recognizes Lula's election win in Brazil
-
$1m bounties, dawn arrests: Trump presses voter fraud campaign
-
Meghan on TV menu for 'Junior MasterChef Australia'
-
Gasping for air: Borneo residents struggle as island burns
-
South Korea's chip boom fuels forecast-beating third-quarter growth
-
Doha exhibition charts a millennium of Chinese maritime ceramics trade
-
US-brokered truce begins in Ukraine city occupied by Russia
-
New Zealand ex-PM Ardern to teach leadership in Sydney
-
Qatar launches Fashion and Crafts Council to connect talent with global markets
-
Ballon d'Or 'beyond wildest dreams' but Kane has plenty more to prove
-
Jordan strikes militant groups in Syria after church attack
-
No envy, no secrets: How Spain's Gipuzkoa became football coaching hotbed
-
FIA chief praises Middle East motorsport volunteers and officials
-
South Korea economy grows three times faster than expected in Q3
-
Australia warns of 'unprecedented' AI threat
-
Al-Thawadi urges technology to deepen human connection through shared experiences
-
Qatar Amir arrives in Moscow for eighth GECF summit
-
Ballon d'Or: Harry Kane's crowning moment
-
Kane beats Yamal and Mbappe to taste Ballon d'Or glory
-
Harry Kane wins men's Ballon d'Or
-
Ballon d'Or crowns Putellas's return to top of women's game
-
Lula win rattles Brazil markets over spending spree fears
-
Godts stars as PSG beat Lyon to go top of Ligue 1
-
De la Fuente wins men's Ballon d'Or coach of year
-
NBA inks deal with Kalshi and Polymarket, citing safeguards
Europe to step up ammunition production amid Ukraine warnings
The European Union said Friday it will drastically increase ammunition production this year in response to Ukraine's growing pleas for support in its war against Russia, which summoned the French ambassador to protest at the country's "growing involvement" in the conflict.
Ukraine meanwhile called on western nations to stop Russia sourcing key parts for its own weapons production for the war that will soon be two years old and has left tens of thousands dead.
The EU will be able to churn out at least 1.3 million rounds of ammunition by the end of this year, EU internal market commissioner Thierry Breton said on a visit to Estonia.
"We are at a crucial moment for our collective security in Europe, and in the war of aggression run by Russia in Ukraine, Europe must and will continue to support Ukraine with all its means," Breton told reporters.
Breton said that by March or April the 27 EU nations would reach a production capacity target for one million ammunition shells each year.
"We will continue to enhance our production capacity, probably around 1.3 to 1.4 million... at the end of this year and continue to increase significantly next year," he added.
"We need to make sure that most of this is coming to Ukraine in priority. Because this is where there is an urgent need," he said.
- 'The West must get serious' -
Ukraine said on Thursday that it faced a "pressing" need for ammunition and Foreign Minister Dmytro Kuleba on Friday made a call for greater efforts to stop Russia sourcing weapons parts for its offensive.
"The West must get serious about strangling Russia's ability to produce weapons," Kuleba said in a social media post.
"According to some data, up to 95 percent of the foreign-produced critical components found in Russian weapons destroyed in Ukraine come from Western countries," he added.
Kuleba did not provide evidence for the claim, but Kyiv regularly disassembles Russian missiles and drones that fall on its territory to analyse their components.
On the battle front, Ukraine staged an attack that sparked a huge inferno at an oil depot in western Russia, a Ukrainian security services source told AFP.
The attack targeted a depot in Klintsy, some 70 kilometres (about 45 miles) from the Ukrainian border.
The strike was the second on a Russian oil depot in two days, after Kyiv claimed to have hit an oil storage facility in the northern Leningrad region on Thursday.
Kyiv has targeted Russian oil and gas infrastructure throughout the almost two-year conflict, attacks they argue are fair retaliation for strikes on Ukrainian territory.
Russia stepped up diplomatic pressure, summoning France's ambassador in Moscow and to make a formal complaint over his country's "growing involvement" in the conflict.
- 'Clumsy Russian manipulation' -
Moscow claimed this week -- without providing evidence -- that it had killed a group of French mercenaries in a strike on the northeastern town of Kharkiv.
Russia's foreign ministry said that ambassador Pierre Levy was "presented with evidence of Paris's growing involvement in the conflict over Ukraine."
Moscow said dozens of fighters were killed in the late night attack Tuesday in Kharkiv, which Russian forces have been shelling since February 2022.
France's foreign ministry denied the mercenaries claim as "another clumsy Russian manipulation".
France has been a key ally for Ukraine since Russia's assault, and President Emmanuel Macron this week announced that Paris was sending dozens of long-range missiles to Ukraine.
Macron on Friday urged defence manufacturers to boost production to increase arms supplies for Ukraine.
"We must amplify the transformation we have begun" to respond more quickly to Ukraine's needs, Macron said in a New Year's address to the French armed forces.
"We can't let Russia think that it can win," Macron added, warning that "a Russian victory would mean the end of European security".
W.Huber--VB