partnership

Firefly updates 2026 revenue outlook to $440m-$450m amid $1.3b AST SpaceMobile partnership (NASDAQ:FLY)

Earnings Call Insights: Firefly Aerospace Inc. (FLY) Q3 2026

Management View

  • “Our intellectual property, Supply and Services Agreement valued at more than $1.3 billion marks the beginning of a 3-year partnership” with AST SpaceMobile, CEO Jason Kim said, adding, “As a nondilutive agreement, this more than $1.3 billion

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Carney hosts EU leaders as Trump pushes Canada toward Europe

Prime Minister Mark Carney called Canada “the most European of non-European countries” early in President Trump’s trade war. Now, he’s hosting European leaders to pursue an unprecedented alliance, but the proposed European Union “associate member” designation faces resistance even as the EU’s top official champions it.

European Commission President Ursula von der Leyen and European Council President António Costa are in Montreal for a two-day summit aimed at deepening trade, defense and economic ties as Canada and Europe seek to reduce their dependence on Washington in a changing world order.

Speaking in Montreal on Thursday, Von der Leyen warned that economic relationships once considered sources of stability were increasingly being used as instruments of pressure. Without naming Trump, she described the consequences for ordinary families and warned that national sovereignty was under threat.

“When trade becomes a tool of economic pressure, it is families that pay the price, from the supermarket shelf to the cost of a new car,” Von der Leyen said. “We are seeing in real time our sovereignty being attacked.”

She warned that dependence on a single supplier for energy, semiconductors or critical minerals could be exploited and said countries faced a choice between acting alone or working with trusted partners to protect their economic security.

Trump has suggested Canada’s proposed EU arrangement could be a “hostile act” and threatened tariffs on Europe if he considered it unfriendly. Asked Wednesday about possible retaliation, a senior Canadian government official told reporters the closer relationship was not directed against the United States but reflected long-standing shared interests.

The summit puts Carney’s vision for a new global order to the test. At the World Economic Forum in Davos, Switzerland, in January, he warned that the U.S.-led international order was breaking down and urged middle powers to unite against economic coercion.

Von der Leyen stands by her plan for Canada’s new status

The structure and even the name of the proposed partnership remain unsettled, with some EU member states questioning the “ associate member ” designation proposed last month by Von der Leyen.

Despite resistance from EU member states, Von der Leyen showed no sign of abandoning the idea.

“Canada cannot become a full-fledged member of the EU because of geography, but we both want to bring our relationship to the highest level possible,” she said. “This is why we are discussing the idea of Canada becoming the first associate member of the European Union.”

Von der Leyen described the proposed relationship as an “association without accession,” saying it could bring Canada closer to EU membership than any previous arrangement with a country outside the bloc. She said the arrangement would deepen cooperation on everything from artificial intelligence and energy to defense and trade.

Anand Sundar, a special adviser at the European Council on Foreign Relations, said France and Germany are among the countries unhappy with the designation and that it may not survive the summit.

“The fact that member states have rejected the associate membership framing is very embarrassing for Von der Leyen,” Sundar said.

More talks ahead, Carney said

Carney said Tuesday the summit would be followed by further negotiations over the next year.

“It doesn’t matter about specific names or nomenclature,” Carney said. “What matters is the difference that it will make to lives of Canadians.”

Carney said the partnership could create new opportunities for Canadian students, businesses and researchers while strengthening the country’s independence and sovereignty.

Carney has ruled out formally joining the EU, saying any enhanced partnership would require approval by Canada’s Parliament.

An alliance without membership

The summit is expected to launch an “Alliance for the Future,” a framework for closer cooperation on trade, defense, critical minerals, technology and research.

Von der Leyen said Canada and the EU would finalize an agreement Friday giving Canadian companies, startups and researchers access to Europe’s network of 12 advanced supercomputers, strengthening cooperation on artificial intelligence.

She also announced plans to strengthen strategic supply chains and encourage joint investment in industries critical to economic security.

The partnership could expand opportunities for Canadian students and researchers through the EU’s Erasmus+ and Horizon Europe programs and make it easier for professionals to work on both sides of the Atlantic.

European commissioners and Canadian Cabinet ministers will hold sector-specific meetings, beginning with a business forum Thursday before formal leaders’ talks Friday. Officials hope to develop the broader partnership for possible endorsement next year.

A changing world order reshapes economic and defense ties

Canada is the only non-European country participating in the EU’s $167-billion SAFE defense procurement program, allowing Canadian companies to take part in joint European military purchases.

But deeper defense cooperation faces obstacles. Sundar said France is pushing for strict “Made in Europe” rules that could limit Canadian companies’ access to future EU defense spending, while Germany favors broader participation. He said negotiations over the EU’s next seven-year budget could prove more consequential for Canada than anything announced in Montreal.

The two sides already have a sweeping free trade agreement, known as CETA, that eliminated most tariffs. Most provisions have been in force since 2017, although some EU member states have yet to ratify it.

The United States accounted for 71.7% of Canada’s merchandise exports last year. Carney wants to double exports to other countries over the next decade.

Canada and the EU are seeking closer cooperation on critical minerals as both sides work to diversify supply chains. Von der Leyen said the value of EU imports of Canadian critical raw materials rose 62% last year to 3.3 billion euros, including lithium, cobalt, nickel and graphite.

Tobias Gehrke, a senior policy fellow at the European Council on Foreign Relations, said the disagreement over terminology was unlikely to derail closer cooperation.

“There is no magic shortcut to rapidly reducing Europe’s and Canada’s reliance on the U.S. economy and military — not least since Washington might retaliate,” Gehrke said. “But the political window is now wide open to take a much bigger step than was previously conceivable.”

Gillies writes for the Associated Press.

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Does Russia offer African countries an equal partnership? | Vladimir Putin News

President Vladimir Putin hosts African leaders at a summit in Moscow.

The Russian president, speaking at the third Russia-Africa Summit being held in Moscow, has told African leaders that his country is a better partner than the West.

Vladimir Putin says Russian companies operate in Africa on an equal footing, accusing Western countries of still focusing on exploiting the continent’s resources.

Some African nations have turned to Russia for security assistance in recent years. Trade and economic ties are also growing.

And Russia has highlighted the importance of what it calls a “multipolar world” – while it seeks support from the Global South to counter Western pressure over its war in Ukraine.

So, what are Russia and African countries getting out of this gathering?

Presenter: Dareen Abughaida

Guests:

Beverly Ochieng – Associate director at Control Risks, specialising in Francophone Africa and the Sahel

Andrey Kortunov – Russian foreign affairs analyst and the former director general of the Russian International Affairs Council

Sanusha Naidu – Foreign policy analyst and senior research associate at the Institute for Global Dialogue

 

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Carney, Erdogan launch ‘strong and resilient’ Canada-Turkiye partnership | Business and Economy News

On trade, investment and innovation, leaders will work toward conclusion of a Canada-Turkiye Free Trade Agreement.

Canadian Prime Minister Mark Carney and Turkish President Recep Tayyip Erdogan have announced the launch of a Canada-Turkiye Strategic Partnership, backed by a three-year action plan.

“In an increasingly complex global security environment, rising geopolitical uncertainties, and evolving humanitarian challenges, a strong and resilient Canada-Turkiye partnership is essential, providing a foundation to mitigate shared threats and capitalise on new opportunities,” said a statement by the two leaders on Thursday.

This comes as Carney is on a two-day visit to Turkiye, seeking to forge a new partnership as Canada looks to reduce its dependence on the United States.

The partnership’s three-year action plan rests on four pillars: trade and investment; defence and security; energy; and ties between people, the statement said.

On trade, investment and innovation, the two leaders agreed to “work toward successful conclusion of a Canada-Turkiye Free Trade Agreement”, it said. They will also expand bilateral trade and investments in priority sectors including energy supply, defence production, aerospace, and Artificial Intelligence (AI).

On defence and security, the leaders “underlined their intent to deepen bilateral and multilateral cooperation”. They also agreed to “strengthen cooperation in support of peace and security in the Euro-Atlantic region and beyond including Ukraine, South Caucasus, and the Middle East, in particular Gaza”.

Meanwhile, energy ministers from both countries will work on areas such as LNG, nuclear energy and critical minerals.

‘Launching a new era’

Speaking to reporters in Ankara alongside Carney on Thursday, Erdogan said the two countries “hope to increase our trade volume, which currently stands at around $3 billion, to $5 billion initially and then to $10 billion through the steps we will take”.

He said the two sides had agreed to begin free trade agreement negotiations before the end of the year to boost trade and investment, adding that elevating Turkiye-Canada relations to the level of a strategic partnership would not be merely a symbolic step on paper.

“We have today overcome the disconnect that had persisted between Turkiye and Canada for many years. Now we are launching a new era between Turkiye and Canada,” he said.

Canadian and Turkish leaders will convene next month in Ankara for the first round of trade talks, the joint statement said.

Carney is on the first bilateral visit by a Canadian prime minister to Turkiye, although he travelled to Ankara in July to attend the NATO summit.

He was scheduled to meet with Erdogan and other officials before travelling to Istanbul for talks with Turkish business groups as the two countries seek to deepen trade ties.

The Canadian prime minister has sought to diversify partnerships and reduce reliance on the US amid an escalating trade war with President Donald Trump, marked by US tariffs on Canadian goods, retaliatory measures by Canada and statements questioning Canadian sovereignty.

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Qatar to unveil regional defence partnership | News

Qatar is preparing to announce a new regional defence partnership aimed at strengthening its military capabilities, Qatar’s Deputy Prime Minister and Minister of State for Defence Affairs, Sheikh Saoud bin Abdulrahman al-Thani, told the Global Security Forum in Doha.

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