French automaker Renault signed on Monday a long-awaited joint venture deal with Iran worth 660 million euros ($779 million) to build up to 300,000 cars per year. The new deal puts Renault in partnership with Iran’s state Industrial Development and Renovation Organisation (IDRO) and private firm Parto Negin Naseh. Renault will hold a 60-percent stake with IDRO and Parto Negin Naseh 20 percent each. Source The Local
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The Defense Ministry plans to introduce a land-based Aegis missile defense system to respond to North Korea’s missile threats and will seek funding in the next fiscal year to cover system design costs, a government source said Wednesday.
Bulgaria has decided to increase its border security measures in order to prevent illegal migration from Turkey, Bulgarian Defense Minister Krasimir Karakachanov said in an interview published on Thursday. Source: Daily Sabah
Austria is sending soldiers to stop migrants coming from Italy, while Bulgaria has said the EU should “defend” its borders by “force of arms”. Austria said it would deploy 70 soldiers, but no armoured vehicles, at the Brenner Pass to Italy on Thursday (17 August). Source: Euobserver