-
WeGolden Receives Best Gold Trading Platform Asia 2026 Recognition from TrustFinance Awards
-
WeMasterTrade Receives Best Instant Prop APAC 2026 Recognition from TrustFinance Awards
-
BtcDana Wins “Best Customer Support Experience – CFD Broker 2026” at the TrustFinance Performance Awards
-
MH Markets Recognized as Most Transparent Broker at the TrustFinance Awards 2026
-
Belgian pie-thrower, scourge of celebrities, dies at 80
-
Stocks, oil slip ahead of US threat of economic war against Iran
-
Eto'o urges support for embattled FIFA president Infantino
-
Trump claims Iran 'collapsing' as US threatens 'economic D-Day'
-
India in driver's seat in second Sri Lanka Test
-
Noosha Aubel: How much more administrative failure can Potsdam tolerate?
-
Despair and anger in Conakry after deadly landfill collapse
-
Liverpool must improve on 'unacceptable' season, says Van Dijk
-
OSCE says Kazakh elections lacked choice after ruling party wins landslide
-
UK PM dismisses Russian threats as Ukraine allies gather in Kyiv
-
India declare on 503-9 after Jurel hundred
-
Attacks on Red Cross in DR Congo making Ebola fight 'harder'
-
Kremlin says UK preventing peace by giving missile info to Ukraine
-
Oil falls ahead of US plan for economic war on Iran
-
Springboks change half-backs for second All Blacks Test
-
Millions of Teslas recalled in China over door handle safety
-
Jurel hits 95 not out as India reach 475-8 at tea in Sri Lanka Test
-
IUX Launches New Education Webinar Series to Support Traders’ Financial Literacy
-
Ingebrigtsen buoyed by fourth in Diamond League comeback
-
Dutch say won't participate in 'no longer' neutral Eurovision
-
Kenyans get creative to join manga cosplay craze
-
Kenyan farmers turn to bugs as organic demand grows
-
Pant, Jurel half-centuries take India past 400 in Sri Lanka Test
-
'His feet are his pillars': Nepal para swimmer gives all for Asian glory
-
Migrants, rescue ships face threats, harassment at sea: aid group
-
New Zealand moves to ban social media for under-16s
-
UEFA's Ceferin tells Infantino to go, but 'not interested' in replacing him
-
Hyundai union back in wage talks after rare full-day strike
-
Oil falls as Trump pledges economic war on Iran
-
Shein grapples with EU backlash, but clients keep coming
-
Yamashita marches to nine-shot win in LPGA Canadian Women's Open
-
Key facts about Chinese-founded fast-fashion giant Shein
-
Gauff powers past Pegula to win US Open warm-up in Cincinnati
-
Shein to make market debut in Hong Kong in September
-
Japan's Olympic figure skating heroes to wed
-
Fils tops Tiafoe to claim first ATP Masters title in Cincinnati
-
Cummins eyes ODI return ahead of 'big' South Africa Test series
-
Gauff powers past Pegula to win Cincinnati WTA 1000 crown
-
India police used excessive force during protests: Amnesty
-
Ukraine backers gather as war escalates, air defence runs low
-
Rookie La Sasso wins LIV season-ender as tour's future in doubt
-
Syria says Israel talks addressed de-escalation, staying out of Israel-Turkey tensions
-
Fils tops Tiafoe to claim first ATP Masters title in Cincinnati bb/amz
-
Tourism boom pushes limits of Athens air traffic control
-
Clark fends off McIlroy to win BMW Championship
-
Liga holders Barcelona crush Elche, Atletico salvage Villarreal draw
Australia, Britain vow AUKUS nuclear-powered subs will be built
Australia and Britain said Friday that a landmark deal to develop AUKUS nuclear-powered submarines would go ahead, despite mounting fears about costs, capabilities and the possible return of Donald Trump.
Under the fledgling AUKUS deal, the two countries along with the United States have pledged to beef up their military muscle in a bid to counter China's rise.
Defence chiefs this week unveiled ambitious plans to supply Australia with a fleet of nuclear-powered submarines, a key pillar of the agreement.
"The three governments involved here are working at pace to make this happen," Australian defence minister Richard Marles told reporters on Friday.
"This is going to happen and we need it to happen," he added.
Barely two years old, there are already signs that AUKUS and its central project could be under threat.
Some fear Trump could jettison the pact if he wins this year's presidential election, returning to his "America first" style of foreign policy.
UK foreign secretary David Cameron suggested that "brilliant" AUKUS and other alliances like NATO -- which he dubbed "the most successful defence alliance in history" -- needed to be fighting fit come US election time.
"I think whoever is president, the best thing we can do is to get those alliances, to get those projects into the best possible shape so whoever is the new president can see that they're working," Cameron said.
He added that the nuclear-powered submarines deal was "a huge project, a huge undertaking, but absolutely essential for our security", adding that he had "total confidence" that the deal would go ahead.
- Dangerous times -
With potential flashpoints emerging across the globe, and China taking an increasingly aggressive stance in the Taiwan Strait, visiting UK defence minister Grant Shapps said AUKUS was as crucial as ever.
After decades of relative peace, Shapps said the planet was slowly shifting from a "post-war" era to a "pre-war" footing.
"We are living in more dangerous times," he said during a tour of the Osborne Naval Shipyard in South Australia.
UK defence contractor BAE Systems has been enlisted to help construct Australia's fleet of nuclear-propelled submarines.
Australia hopes to have eight nuclear-powered vessels in the water by the 2050s -- a mix of the new AUKUS-class subs built at home and in the UK, and Virgina-class vessels purchased from the United States.
Marles said a "drumbeat" of AUKUS-class submarines would then continue to roll off Australian production lines "every few years" in perpetuity.
"There is no country in the world which has obtained the capability to build nuclear-powered submarines, which has then turned that capability off," he said.
"We will see submarines being produced here on an enduring basis."
- Potent threat -
Although the financial details of the BAE deal are under wraps, Australian defence officials want to initially build at least five AUKUS-class nuclear-powered subs at a cost of billions of dollars.
The subs will be quieter and stealthier than Australia's existing diesel fleet, and capable of deploying over vast distances without surfacing, posing a potent threat to any foe.
BAE Systems, one of the largest defence contractors in Europe, said it was "already making good progress on the design and development of the next generation submarine".
The company has a close relationship with the UK navy, and is responsible for building its Astute-class and Dreadnought-class nuclear-powered vessels.
The scale of the project is vast, and questions have been raised about whether Australia -- with limited nuclear experience and a relatively small navy -- can pull it off.
Australian officials believe about 20,000 workers will be needed for the homegrown nuclear industry -- among them an army of technicians, metal workers, electricians and welders.
The Australian navy has struggled to maintain its current fleet of ageing diesel-electric subs, which have been plagued by design flaws and cost blowouts.
In total, the AUKUS submarine project could cost up to Aus$368 billion (US$240 billion) over the next 30 years.
M.Gameiro--PC