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, No 4, Monday 23rd February, 2015

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MAIN HEADLINES FROM THIS ISSUE:

  • India set to approve a civil offset policy

    India’s Committee of Secretaries is set to finalise the country’s national offset policy. The new policy is expected to require foreign firms selling goods worth over Rs 300 crore ($40m) to the government or public sector undertakings (PSUs) to source part of their supplies from domestic manufacturers.

  • Airbus cuts royalties, UK saves jobs

    Airbus has quietly persuaded the British government to accept a big cut in royalty payments in return for a guarantee that the company will keep work in Britain. A spokesman for the Department for Business, Innovation, and Skills told CTO the deal is exclusive to the commercial work that Airbus performs in the UK.

  • The new Buy American minefield

    The Republican Senate Majority Leader, Mitch McConnell, has promised to expand in 2015 Buy American constraints for federally-funded procurement projects. A multitude of Buy American laws are already on the books and several new rules are planned.

  • Polish group faces default penalty for Indian contract

    The Polish Weapons Group is facing default under a contract to supply India with 204 WZT-3 armoured recovery vehicles worth $275m. Should a default occur, the Polish Defence Holding will face contractual penalties on non-performance of both the sales and the offset contracts.

  • SSM fines Thyssen Krupp

    Turkey has fined Thyssen Krupp Marine Systems €100m for delays in the construction of six submarines contracted in 2009. The value of the contract is estimated at €2.5bn and includes an offset commitment for 80 percent of purchase contract value.

AND LOT'S MORE...

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