Business
Global Conflicts Drive Arms Industry to $679 Billion Record Revenues – SUCH TV
Sales by the world’s top 100 arms makers reached a record $679 billion last year, as conflicts in Ukraine and Gaza fueled demand, according to researchers. Production challenges, however, continued to hamper timely deliveries.
The figure represents a 5.9 percent increase from the previous year, and over the 2015–2024 period, revenues for the top 100 arms makers have grown by 26 percent, according to a report by the Stockholm International Peace Research Institute (SIPRI).
“Last year, global arms revenues reached the highest level ever recorded by SIPRI, as producers capitalized on strong demand,” said Lorenzo Scarazzato, a researcher with the SIPRI Military Expenditure and Arms Production Programme.
Regional Trends
According to SIPRI researcher Jade Guiberteau Ricard, the growth is mostly driven by Europe, though all regions saw increases except Asia and Oceania.
The surge in Europe is linked to the war in Ukraine and heightened security concerns regarding Russia.
Countries supporting Ukraine and replenishing their stockpiles have also contributed to rising demand.
Ricard added that many European nations are now seeking to modernize and expand their militaries, creating a new source of demand.
US and European Arms Makers
The United States hosts 39 of the world’s top 100 arms makers, including the top three: Lockheed Martin, RTX (formerly Raytheon Technologies), and Northrop Grumman. US companies saw combined revenues rise 3.8 percent to $334 billion, nearly half of the global total.
European arms makers (26 companies in the top 100) recorded aggregate revenues of $151 billion, a 13 percent increase.
The Czech company Czechoslovak Group recorded the sharpest rise, with revenues jumping 193 percent to $3.6 billion, benefiting from the Czech Ammunition Initiative, which supplies artillery shells to Ukraine.
However, European producers face challenges in meeting increased demand, as sourcing raw materials has become more difficult.
Companies like Airbus and France’s Safran previously sourced half of their titanium from Russia before 2022 and have had to identify new suppliers.
Additionally, Chinese export restrictions on critical minerals have forced firms such as France’s Thales and Germany’s Rheinmetall to restructure supply chains, raising costs.
Russian Arms Industry
Two Russian arms makers, Rostec and United Shipbuilding Corporation, are among the top 100, with combined revenues rising 23 percent to $31.2 billion, despite component shortages caused by international sanctions.
Domestic demand largely offset the decline in exports. However, Russia’s arms industry faces a shortage of skilled labor, limiting its ability to sustain production rates necessary for ongoing military operations.
Israeli weapons still popular
The Asia and Oceania region was the only region to see the overall revenues of the 23 companies based there go down — their combined revenues dropped 1.2 percent to $130 billion.
But the authors stressed that the picture across Asia was varied and the overall drop was the result of by a larger drop among Chinese arms makers.
“A host of corruption allegations in Chinese arms procurement led to major arms contracts being postponed or cancelled in 2024,” Nan Tian, Director of SIPRI’s Military Expenditure and Arms Production Programme, said in a statement.
Tian added that the drop deepened “uncertainty” around China’s efforts to modernise its military.
In contrast, Japanese and South Korean weapons makers saw their revenues increase, also driven by European demand.
Meanwhile, nine of the top 100 arms companies were based in the Middle East, with combined revenues of $31 billion.
The three Israeli arms companies in the ranking accounted for more than half of that, as their combined revenues grew by 16 percent to $16.2 billion.
SIPRI researcher Zubaida Karim noted in a statement that “the growing backlash over Israel’s actions in Gaza seems to have had little impact on interest in Israeli weapons”.
UK investment bank Peel Hunt has given some support to under-pressure Chancellor Rachel Reeves over last week’s Budget as it said efforts to boost the London market and invest in UK companies were “positive steps”.
Peel Hunt welcomed moves announced in the Budget, such as the stamp duty exemption for shares bought in newly listed firms on the London market and changes to Isa investing.
It comes as Ms Reeves has been forced to defend herself against claims she misled voters by talking up the scale of the fiscal challenge in the run-up to last week’s Budget, in which she announced £26 billion worth of tax rises.
Peel Hunt said: “Following a prolonged period of pre-Budget speculation, businesses and investors now have greater clarity from which they can start to plan.
“The key measures were generally well received by markets, particularly the creation of additional headroom against the Chancellor’s fiscal rules.
“Initiatives such as a stamp duty holiday on initial public offerings (IPOs) and adjustments to the Isa framework are intended to support UK capital markets and encourage investment in British companies.
“These developments, alongside the Entrepreneurship in the UK paper published simultaneously, represent positive steps toward enhancing the UK’s attractiveness for growth businesses and long-term investors.”
Ms Reeves last week announced a three-year stamp duty holiday on shares bought in new UK flotations as part of a raft of measures to boost investment in UK shares.
She also unveiled a change to the individual savings account (Isa) limit that lowers the cash element to £12,000 with the remaining £8,000 now redirected into stocks and shares.
But the Chancellor also revealed an unexpected increase in dividend tax, rising by 2% for basic and higher rate taxpayers next year, which experts have warned “undermines the drive to increase investing in Britain”.
Peel Hunt said the London IPO market had begun to revive in the autumn, although listings activity remained low during its first half to the end of September.
Firms that have listed in London over recent months include The Beauty Tech Group, small business lender Shawbrook and tinned tuna firm Princes.
Peel Hunt added that deal activity had “continued at pace” throughout its first half, with 60 transactions announced across the market during that time and 10 active bids for FTSE 350 companies, as at the end of September.
Half-year results for Peel Hunt showed pre-tax profits jumped to £11.5 million in the six months to September 30, up from £1.2 million a year earlier, as revenues lifted 38.3%.
Peel Hunt said its workforce has been cut by nearly 10% since the end of March under an ongoing savings drive, with full-year underlying fixed costs down by around £5 million.
Steven Fine, chief executive of Peel Hunt, said: “The second half has started strongly, with the group continuing to play leading roles across both mergers and acquisitions and equity capital markets mandates.”
Business
Gross GST collections for November stand at over Rs 1.70 lakh crore; up 0.7 per cent – The Times of India
GST collections: The Gross Goods and Services Tax (GST) collections for the month of November came in at over Rs 1.70 lakh crore. This is a rise of 0.7%, according to official data.SBI Research in a report in November had estimated that the gross domestic GST collections may come around Rs 1.49 lakh crore for November 25 (returns of October 25 but filed in Nov’25), a YoY growth of 6.8%.“Coupled with Rs 51,000 crore of IGST and cess on Import, the November GST collections thus could cross Rs 2.0 lakh crore, driven by the peak festive season demand led by lower GST rate and increased compliance while most of states experience positive gains,” SBI Research had said.This story is being updated
New Delhi: Several crucial deadlines have been extended in December 2025, including ITR for tax audit cases, ITR filing and PAN and Aadhaar linking. These deadlines will be crucial in ensuring that your financial affairs operate smoothly in the months ahead.
Here is a quick rundown of the important deadlines for December to help you stay compliant and avoid last-minute hassles.
ITR deadline for tax audit cases
The Central Board of Direct Taxes has extended the due date of furnishing of return of income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26 which is October 31, 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to December 10, 2025.
Belated ITR filing deadline
A belated ITR filing happens when an ITR is submitted after the original due date which is permitted by Section 139(4) of the Income Tax Act. Filing a belated return helps you meet your tax obligations, but it involves penalties. You can only file a belated return for FY 2024–25 until December 31, 2025. However, there will be a late fee and interest charged.
PAN and Aadhaar linking deadline
The Income Tax Department has extended the deadline to link their PAN with Aadhaar card to December 31, 2025 for anyone who acquired their PAN using an Aadhaar enrolment ID before October 1, 2024. If you miss this deadline your PAN will become inoperative which will have an impact on your banking transactions, income tax return filing and other financial investments.
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