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Day: May 28, 2026
Hong Kong has overtaken Switzerland for the first time to become the world’s leading hub for offshore wealth management, driven by a powerful inflow of capital from mainland China and the strong recovery of the local stock market, AzerNEWS reports.
The post Hong Kong overtakes Switzerland in foreign capital first appeared on The South Caucasus News – SouthCaucasusNews.com.
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Hong Kong has overtaken Switzerland for the first time to become the world’s leading hub for offshore wealth management, driven by a powerful inflow of capital from mainland China and the strong recovery of the local stock market, AzerNEWS reports.
The post Hong Kong overtakes Switzerland in foreign capital first appeared on The South Caucasus News – SouthCaucasusNews.com.
Military parade in Armenia marks Republic Day
Armenia is marking Republic Day. A military parade took place on Republic Square in central Yerevan. The government showcased modern weapons and military equipment that the armed forces have added to their arsenal in recent years.
Prime Minister Nikol Pashinyan said in his speech that “Armenia’s military cooperation network” now spans seven countries. Until recently, Armenia had effectively relied on a single main arms supplier — Russia. The prime minister stressed that international arms markets opened up to Armenia after agreements reached in Prague on 6 October 2022.
That day, leaders held a four-party meeting during the summit of the European Political Community in Prague. The meeting brought together President of the European Council Charles Michel, French President Emmanuel Macron, Nikol Pashinyan and Azerbaijani President Ilham Aliyev. After the meeting, Armenia and Azerbaijan recognised each other’s territorial integrity and sovereignty under the 1991 Alma-Ata Declaration.
According to Pashinyan, international arms and military equipment markets had previously remained largely inaccessible to Armenia.
He said “international partners refused to supply weapons because they believed Armenia would use them outside its internationally recognised territory”, referring to Nagorno-Karabakh.
During the parade, Armenia also showcased domestically produced weapons and military equipment, including strike and reconnaissance drones.
“Since 2022, Armenia’s government has invested around 170 billion drams (approximately $466 million) in the military-industrial sector. And we have achieved results we can now be proud of,” the prime minister said.
According to Nikol Pashinyan, Armenian-made weapons and military equipment are “taking their first but confident steps towards securing stable positions on the international market”.
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Drones, including domestically produced models, showcased at parade
The military parade featured modern reconnaissance and strike drones. Armenia showcased both foreign-made UAVs and domestically produced systems.
The parade presenter told attendees that Armenian-made drones represent unique technological solutions. He said cooperation between the Military-Industrial Committee, the armed forces and local private companies made their development possible.
Among the systems on display was the locally produced giant UAV “Aghegh” (“Bow”), a multifunctional drone designed for reconnaissance, target detection and strike missions.
The drone has a wingspan of 18 metres and a length of 8.5 metres. It can fly at a speed of 200 km/h for up to 28 hours. The UAV can reach an altitude of 8,600 metres above sea level and has a flight range of 2,000 kilometres.
Fighter jets over Yerevan
The parade also featured new helicopters and aircraft that have recently entered the country’s air force arsenal.
They included multirole helicopters, Sukhoi Su-30 fighter jets and Sukhoi Su-25 attack aircraft.
What else the parade showcased
Separate army units showcased new weapons systems, including precision-guided and AI-assisted equipment. The display also featured remotely operated robotic military systems and electronic warfare equipment.
Military vehicles and weapons systems that rolled across the square included:
- Bastion armoured vehicles,
- heavy artillery systems,
- infantry rocket launchers,
- air defence missile systems,
- radar stations,
- anti-tank guided missile systems,
- mortar systems,
- D-30 and “Tork” howitzers,
- self-propelled artillery systems,
- rocket artillery systems.
Fourteen military formations took part in the parade. Participants included defence ministry personnel, members of several units of the National Security Service of Armenia, female service members and cadets from military academies.
The event also featured a ceremonial honour guard performance.
An orchestra from the armed forces closed the parade. A group of children then entered the square and released doves into the sky as a symbol of peace.
Anyone interested in military equipment has the opportunity to take a closer look at the weapons systems showcased during the parade. Authorities will keep all of the equipment on display along one of the capital’s main avenues until the end of the day.
“Army is a factor for peace, not war” — Pashinyan
Armenian Prime Minister Nikol Pashinyan said this year’s Republic Day comes under new “historic” conditions.
Pashinyan stressed that peace has been established between Armenia and Azerbaijan after nearly 35 years of conflict.
In Pashinyan’s view, the army remains the country’s most important state institution even in peacetime.
“Today, the Armenian army is a factor for peace, not war, because a country without a capable and strong army can become a tempting target for aggression. We cannot allow such a situation,” Nikol Pashinyan said.
Pashinyan stressed the importance of showing Armenians a renewed army equipped with new weapons, uniforms and ideology. According to him, that ideology rests on a simple principle:
“The army’s only mission is to defend Armenia’s internationally recognised sovereign territory.”
The prime minister explained that the army should not operate outside the country’s borders except as part of peacekeeping missions. He said the government’s approach made it possible for Armenia to achieve what the country showcased during the parade.е.
According to Nikol Pashinyan, the military parade served as a kind of report not only to Armenia’s citizens, but also to soldiers who died for the homeland.
He has repeatedly said that Armenia became more independent, sovereign and secure at the cost of their lives.
Participants in the military parade honoured their memory with a minute of silence. Artillery salutes then followed in their honour.
Military parade in Armenia marks Republic Day
The post ‘New army, new weapons’: military parade in Yerevan marks Republic Day first appeared on The South Caucasus News – SouthCaucasusNews.com.
Ferrari CEO Benedetto Vigna defended the automaker’s first all-electric car, the Luce, saying it was receiving ‘strong interest’ from new and existing customers despite a backlash over its unconventional design and shift away from petrol engines reut.rs/4dzKYNz
Video
— @Reuters May 28, 2026
The post Ferrari CEO Benedetto Vigna defended the automaker’s first all-electric car, the Luce, saying it was receiving ‘strong interest’ from new and existing customers despite a backlash over its unconventional design and shift away from petrol engines https://reut.rs/4dzKYNz first appeared on October Surprise 2016 – octobersurprise2016.org.
IBM to invest $10 billion for large-scale quantum computer by 2029 reut.rs/3PRgmOl reut.rs/3PRgmOl
— @Reuters May 28, 2026
The post IBM to invest $10 billion for large-scale quantum computer by 2029 http://reut.rs/3PRgmOl http://reut.rs/3PRgmOl first appeared on October Surprise 2016 – octobersurprise2016.org.
