Seoul, April 27 (IANS) Hanwha Systems Co., the defense solutions arm of Hanwha Group, said on Monday it swung to a net loss in the first quarter from a year earlier, citing substantial equity losses tied to its US shipyard investment.For the three months ended March, the company reported a net loss of 95.75 billion won ($65 million), compared with a net profit of 24.36 billion won a year earlier, reports Yonhap news agency.The decline was largely attributed to increased equity losses from Hanwha…
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Tehran, April 26 (IANS) Iran’s main military command, Khatam al-Anbiya Central Headquarters, vowed to react if the United States continues its “blockade, banditry and piracy” in the West Asia region.It made the announcement in a statement carried by Iranian media while pointing to the US naval blockade imposed on the Strait of Hormuz, which prevents vessels traveling to and from Iranian ports from transiting the waterway, and actions against Iran-bound ships over the past few days, Xinhua news a…
Washington, April 24 (IANS) The United States on Friday said its expanding naval blockade of Iran was tightening “by the hour”, as Defence Secretary Pete Hegseth asserted that Tehran faced a stark choice between a nuclear deal and mounting economic collapse under sustained American pressure.“Operation Epic Fury has delivered decisive military results in just weeks,” Hegseth told reporters at the Pentagon, contrasting it with “endless wars of the past” that “dragged on for years and…
Washington, April 21 (IANS) The fragile two-week US-Iran ceasefire is set to expire Wednesday evening, clouding prospects for fresh negotiations and the future of the Strait of Hormuz, after US President Donald Trump depicted extension of the truce as “highly unlikely.” Asked if he expects strikes to resume immediately afterwards if no deal is reached, Trump said, “If there’s no deal, I would certainly expect.”The remarks came as Washington reportedly sought to keep diplomatic channels open. US …
Washington, April 21 (IANS) The United States has seized an Iran-flagged cargo vessel after opening fire on it in the Arabian Sea. Tehran condemned the move as “armed piracy” and warn of retaliation, escalating tensions days before a fragile ceasefire is set to expire.The US Navy fired on the Iranian-flagged vessel, M/V Touska, after it attempted to breach a naval blockade imposed on Iranian ports, according to US Central Command (CENTCOM).CENTCOM said American forces issued repeated warning…
Washington, April 21 (IANS) US President Donald Trump said it is “highly unlikely” he would extend a two-week ceasefire with Iran if a deal is not reached before it ends this week, according to a Bloomberg report.The Strait of Hormuz would remain blocked until a peace agreement is finalized, Trump said in a phone interview.”They want me to open it. The Iranians desperately want it opened. I’m not opening it until a deal is signed,” he said. Oil prices jumped as Washington maintained its blockade…
New York, April 20 (IANS) US President Donald Trump said that US forces have intercepted and taken custody of an Iranian-flagged cargo ship that tried to bypass its blockade in the Gulf of Oman.”Today, an Iranian-flagged cargo ship named TOUSKA, nearly 900 feet long and weighing almost as much as an aircraft carrier, tried to get past our Naval Blockade, and it did not go well for them,” Trump wrote in a post on his social media Truth Social.A US destroyer intercepted the TOUSKA in the Gulf of O…
Washington, April 16 (IANS) The US on Thursday asserted that it controls maritime traffic in and out of the Strait of Hormuz, dismissing Iranian claims of dominance over the strategic waterway as tensions remain high despite a fragile ceasefire. Defence Secretary Pete Hegseth said Iran lacked the naval capability and situational awareness to control shipping routes, accusing it of resorting to threats against commercial vessels.”You’d like to say publicly, Iran, that you control the Strait of Ho…
Washington, April 16 (IANS) A US Navy guided-missile destroyer has intercepted and redirected an Iranian-flagged cargo vessel in the Strait of Hormuz, the US Central Command has said. “Yesterday, an Iranian-flagged cargo vessel tried to evade the US blockade after leaving Bandar Abbas, exiting the Strait of Hormuz, and transiting along the Iranian coastline,” the command said on X. on Wednesday (local time). “The guided-missile destroyer USS Spruance (DDG 111) successfully redirected the vessel,…
Washington, April 14 (IANS) US Vice President JD Vance said negotiations with Iran had made “a lot of progress” but fell short of a deal, with Washington holding firm on key demands, including removal of enriched uranium and verifiable limits on Tehran’s nuclear programme.In an interview with Fox News, Vance said the talks — held at a high level in Pakistan — clarified both areas of flexibility and firm US “red lines”.“I wouldn’t just say that things went wrong. I also think thin…