Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > Nokia, Nvidia, defence firms back EU-funded drone infrastructure oversight project
    Headlines

    Nokia, Nvidia, defence firms back EU-funded drone infrastructure oversight project

    Nokia, Nvidia, defence firms back EU-funded drone infrastructure oversight project

    Published by Global Banking and Finance Review

    Posted on June 4, 2025

    Featured image for article about Headlines

    By Nathan Vifflin

    (Reuters) -A consortium of more than 42 organizations, led by Nokia, will work on an unmanned drone project aimed at protecting and bolstering the resilience of Europe's most critical infrastructures, the Finnish network equipment maker said on Wednesday.

    The member organizations, which include start-ups and universities, will build new capabilities such as laser or radar sensors on top of hardware platforms like drones built by defence companies.

    Russia's invasion of Ukraine has highlighted the European Union's inability to protect its vital systems, a vulnerability starkly underscored by drone warfare's increasing capacity to inflict devastation deep within adverse territory.

    "Safeguarding of our critical infrastructure has not always been a first priority," project leader Thomas Eder at Nokia said in an interview with Reuters, adding that EU-funding for a similar venture did not come through only a few years earlier.

    The project is funded in part by participating countries, companies and the EU under its Chips Joint Undertaking programme, which also allows non-EU countries such as Israel to participate.

    Among companies involved in the venture were Nvidia and European defence firms Safran, Leonardo and Saab.

    Nokia is looking to do more around defence as its new CEO has identified the sector as one of the company's priority areas, alongside data centres and AI, a Nokia spokesperson said.

    The aerial, ground and underwater robot project, initially scheduled to run for three years, is expected to generate 90 million euros ($102.7 million) in revenue by 2035, according to a statement seen by Reuters.

    Nokia was not able to confirm the total funding numbers for the project.

    While the initiative is targeted for civil security, when asked if it could be later spun-off into a dual-use project for defence purposes, Eder said, "I think it is highly possible."

    "But for the time being, this is a critical infrastructure project for power lines, for power plants, for railways, for ports, for any type of power grid applications," he said.

    ($1 = 0.8767 euros)

    (Reporting by Nathan Vifflin in Amsterdam, additional reporting by Supantha Mukherjee, editing by Milla Nissi-Prussak)

    Related Posts
    Italy removes emphatic 'Yes!' from national anthem
    Italy removes emphatic 'Yes!' from national anthem
    Two men found guilty of UK plot to kill hundreds of Jews as IS fears grow
    Two men found guilty of UK plot to kill hundreds of Jews as IS fears grow
    Factbox-Weight-loss drug developers line up to tap lucrative market as competition heats up
    Factbox-Weight-loss drug developers line up to tap lucrative market as competition heats up
    Russia's Lavrov to meet Syrian counterpart for talks in Moscow, TASS cites foreign ministry
    Russia's Lavrov to meet Syrian counterpart for talks in Moscow, TASS cites foreign ministry
    Germany deports criminal to Syria as pressure mounts on migration
    Germany deports criminal to Syria as pressure mounts on migration
    Campari's top shareholder regains seized shares after tax deal
    Campari's top shareholder regains seized shares after tax deal
    Israeli defence minister vows military to remain in Gaza
    Israeli defence minister vows military to remain in Gaza
    Two CMA CGM vessels navigate the Suez Canal in sign of easing tension
    Two CMA CGM vessels navigate the Suez Canal in sign of easing tension
    Jared Kushner's withdrawal from Serbia will hurt investment, official says
    Jared Kushner's withdrawal from Serbia will hurt investment, official says
    EU broadens industry compensation for emissions regulation costs
    EU broadens industry compensation for emissions regulation costs
    Ukraine's Zelenskiy says several draft documents ready after Miami talks
    Ukraine's Zelenskiy says several draft documents ready after Miami talks
    Italy's government wins upper house confidence vote on 2026 budget
    Italy's government wins upper house confidence vote on 2026 budget

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Headlines PostTrump envoy says risk levels 'going way up' after Ukraine struck Russian bombers
    Next Headlines PostBrookfield plans $10 billion AI data centre in Sweden

    More from Headlines

    Explore more articles in the Headlines category

    Greta Thunberg arrested at pro-Palestinian protest in London

    Greta Thunberg arrested at pro-Palestinian protest in London

    UK softens stance on farm tax after months of protests

    UK softens stance on farm tax after months of protests

    WhatsApp complains about restrictions in Russia after reported slowdown

    WhatsApp complains about restrictions in Russia after reported slowdown

    Novo Nordisk's weight-loss challenge in five charts

    Novo Nordisk's weight-loss challenge in five charts

    Spain set to re-enter Germany's top 10 export markets as shipments jump

    Spain set to re-enter Germany's top 10 export markets as shipments jump

    Major central banks deliver biggest easing push in over a decade in 2025

    Major central banks deliver biggest easing push in over a decade in 2025

    French lawmakers race to pass emergency rollover budget law

    French lawmakers race to pass emergency rollover budget law

    Russia and US discussed 'irritants' in relationship, key issues unresolved, Interfax reports

    Russia and US discussed 'irritants' in relationship, key issues unresolved, Interfax reports

    INSIGHT-Why the boss of a Russian defence factory set fire to himself on Red Square

    INSIGHT-Why the boss of a Russian defence factory set fire to himself on Red Square

    Cricket-England to probe reports of excessive drinking during Ashes break

    Cricket-England to probe reports of excessive drinking during Ashes break

    Novo Nordisk shares jump almost 8% after US approves Wegovy pill

    Novo Nordisk shares jump almost 8% after US approves Wegovy pill

    Two killed in underground explosion at Polish coal mine

    Two killed in underground explosion at Polish coal mine

    View All Headlines Posts