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Tag: approves

U.S. approves sale of missile defense system to Romania

U.S. approves sale of missile defense system to Romania

Business
Oct. 16 (UPI) -- The United States cleared Romania to purchase coastal defense missiles in a $ 300 million deal, the Defense Security Cooperation Agency announced Friday. The State Department approved the sale of two Naval Strike Missile Coastal Defense Systems and related equipment. Advertisement The system includes missiles suited for land attack missions because they can climb and descend with the terrain as well as having sea-skimming capabilities. It was successfully tested in a land-based mobile launcher configuration in 2018 as part of a multinational military exercise, its manufacturer, Raytheon, said. Raytheon builds the system in conjunction with Norwegian defense company Kongsberg Defence Aerospace. In 2019, the U.S. Marine Corps became a customer, integrating a land-based Nava...
State Department approves $14B sales of F-35s, F-18s to Switzerland

State Department approves $14B sales of F-35s, F-18s to Switzerland

Business
Oct. 1 (UPI) -- The State Department approved the possible sales -- for $ 14 billion -- of 80 military aircraft to Switzerland this week. The Defense Security Cooperation Agency issued two separate press releases relating to the deals this week: one announcing a possible $ 6.58 billion deal to sell 40 F-35 Joint Strike Fighter Aircraft to Switzerland, and another announcing the possible $ 7.452 billion sale of F/A-18E/F Super Hornet aircraft to the country. Advertisement According to DSCA, the government of Switzerland asked to buy the aircraft along with related equipment, including 40 Sidewinder AIM-9X Block II+ (Plus) Tactical Missiles for the F-35s, 12 Bomb MK-82s for the F-35s and 16 spare F414-GE-400 engines for the Super Hornets. Both requests also included U.S. government contract...
RBI approves 3-member committee of directors to manage Lakshmi Vilas Bank

RBI approves 3-member committee of directors to manage Lakshmi Vilas Bank

Finance
Mumbai: The Reserve Bank of India (RBI) has approved a three-member committee of directors to run the day-to-day functioning of cash-strapped Lakshmi Vilas Bank. The development comes a few days after its shareholders rejected the appointment of seven directors, including the Managing Director, Chief Executive Officer and auditors at the annual general meeting. The shareholders rejected the appointments a time when the private sector lender is facing a major financial crisis due to deterioration of asset quality and lack of capital. LVB is in dire need of capital and has been scrambling to find a buyer. The private lender is in talks with Clix Capital for a merger and secure the much-needed capital. In a statement issued late on Sunday, LVB said the RBI-approved three-member committee of d...
FDA approves remdesivir to treat COVID-19

FDA approves remdesivir to treat COVID-19

Health
May 1 (UPI) -- The U.S. Food and Drug Administration on Friday granted emergency use authorization for the antiviral remdesivir to treat COVID-19. Although clinical trials of the drug for treatment of the novel coronavirus, SARS-CoV-2, have produced mixed results, the largest study to date suggested that up to 50 percent of those given the drug for a five-day period showed improvement in symptoms. Roughly the same percentage were well enough to be discharged from the hospital within two weeks of receiving their first dose of the drug, which is delivered intravenously. The agency said the drug has not been approved as a general treatment for COVID-19. Rather, it is only intended for emergency use on severely ill patients who have been hospitalized. "Today's action is an important step in...
State Dept. approves $194M upgrade deal for South Korea’s F-16s

State Dept. approves $194M upgrade deal for South Korea’s F-16s

Business
March 30 (UPI) -- The State Department approved a sale of upgrades to South Korea's F-16 fighter planes, the Defense Security Cooperation Agency said on Monday. The $ 194 million sale, expected to be approved by Congress, calls for South Korea to obtain Mode 5 Identification Friend or Foe equipment, known as IFF, and Link 16 Technical Datalink equipment for its F-16 Block 32 fleet. IFF, in use since the 1940s and improved regularly, identifies and tracks military aircraft, and Mode 5 is the most recent implementation of the system. It uses waveform modulation, coding, and cryptographic techniques to quickly determine the identity and heading of an aircraft. Link 16 is a military data link network allowing military ships and aircraft to share tactical picture of a situation in real time, ...