
NATO head expects members to agree to spend 5% GDP on defense
NATO Secretary-General Mark Rutte addresses a press conference following an informal meeting foreign ministers of member nations on May 15, 2025. On Monday, he said he expects member nations to agree to spend 5% GDP on defense spending next month in The Hague. Photo by NATO/UPI | License Photo
May 27 (UPI) -- NATO Secretary-General Mark Rutte said that he expects alliance members to agree during next month's summit to a defense spending target of 5% of gross domestic product.
Rutte made the revelation during the sixth and final day of the NATO Parliamentary Assembly in Dayton, Ohio.
"I assume that in The Hague we will agree on a hard defense spend target of 5%," he said.
"Let's say that this 5%, but I will not say what is the individual breakup, but it will be considerably north of 3% when it comes to the hard spend and it will be also a target on defense-related spending."
"We need this, because otherwise we can never, ever, ever reach the capability targets," he added.
All NATO members have agreed to spend at least 2% of their GDP on defense by 2025, with no country yet reaching the 5% threshold.
NATO spending by member nations has long been an issue of contention for U.S. President Donald Trump, who has called for European nations to pay more, accusing them of relying on Washington for their defense.
Since returning to the White House in January, Trump has been calling for NATO members to increase defense spending to 5%.
Of the 32 NATO nations, Poland spent an alliance-high 4.12% of GDP on defense last year, according to statistics from the security alliance, with Estonia second at 3.43% and the United States third at 3.38%.
Eight countries spent below the 2% GDP on defense last year, with Spain coming in last at 1.28% GDP.
The NATO Summit is to be held in The Hague from June 24-25, where world leaders and defense chiefs of alliance members will congregate to discuss pressing security issues and decide on the alliance's strategic direction.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
H.I.G. Capital Expands Its European Middle Market Private Equity Team with the Addition of Antonin Marcus
PARIS, June 2, 2025 /PRNewswire/ -- H.I.G. Capital ("H.I.G." or the "Firm"), a leading global alternative investment firm with $70 billion of capital under management, is pleased to announce today that Antonin Marcus has joined the Firm as a Managing Director on H.I.G.'s Middle Market Private Equity team in France. Based in Paris, Antonin is a proven private equity investor with over 15 years of experience in private equity and finance, covering several sectors and investment strategies. Prior to joining H.I.G., he spent eight years with Eurazeo. Before that, Antonin worked for H.I.G. in Paris, and he began his career with Goldman Sachs in London. Olivier Boyadjian, Managing Director and Head of H.I.G. Paris office, commented: "Antonin is a highly regarded private equity investor. We are excited to have him rejoin H.I.G. as a Managing Director in charge of our Middle Market LBO activities in France." Markus Noe-Nordberg, Managing Director and Head of the H.I.G. European Middle Market LBO team, said: "We are delighted to welcome Antonin to our team. His deep experience and extensive network will be instrumental to our continued success in France." In commenting on his new role, Antonin Marcus added: "I am thrilled to be back with the H.I.G. team and build upon the success in Europe. Through H.I.G.'s Middle Market LBO strategy, we will further complement the Firm's breadth of capabilities in France with an additional focus on larger transactions." About H.I.G. Capital H.I.G. is a leading global alternative investment firm with $70 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco and Stamford in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, and Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to mid-sized companies, utilizing a flexible and operationally focused/value-added approach: H.I.G.'s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses. H.I.G.'s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance. H.I.G.'s real estate funds invest in value-added properties, which can benefit from improved asset management practices. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector. Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm's current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at *Based on total capital raised by H.I.G. Capital and its affiliates. Contact: Olivier BoyadjianHead of H.I.G. Paris officeoboyadjian@ Markus Noe-NordbergManaging Directormnordberg@ H.I.G. European Capital S.A.S.2, Rue Lord Byron5th Floor75008 ParisFranceP: +33 (0) 1 53 57 50 View original content to download multimedia: SOURCE H.I.G. Capital Sign in to access your portfolio
Yahoo
22 minutes ago
- Yahoo
Nasdaq Wants to Wrap This $11.5B Altcoin in an ETF
Forget Ethereum, there's a new altcoin coming for the $10 trillion ETF industry. Nasdaq and the European crypto issuer 21Shares filed for an exchange-traded fund in May that would hold $SUI, a relatively new coin from a blockchain technology called Sui. While XRP and Solana filings are already in the works, the secret behind the Sui network is its focus on instant settlements that allow unrelated transactions to close simultaneously. The Palo Alto, California-based startup behind the technology is backed by Andreessen Horowitz and FTX Ventures, among others, with a valuation of about $2 billion. $SUI's market cap stands at around $11.5 billion, far lower than more prominent coins like Ethereum at $307 billion. 'SUI presents a differentiated bet on speed, developer adoption, and novel architecture,' said Mike Cahill, CEO of the crypto developer Douro Labs. 'Not to mention, the fact that an ETF provides the cleanest way to express that view under compliance constraints.' READ ALSO: Vanguard's 2 New Muni ETFs Have an Advantage Over Mutual Funds and American Century's Head of ETF Solutions to Depart $SUI is already traded in a regulated exchange-traded product in Europe. The 21Shares ASUI fund has approximately $165 million in assets and that's after just about 10 months of trading. 'There's real balance-sheet demand once custody and compliance boxes are ticked,' said Felix Xu, CEO at the blockchain company ARPA Network. 21 Shares said in a filing that the $SUI token has four main use cases: It functions as a liquid asset for apps or programs that run on the Sui network. Alternatively, the coins can be used to pay gas fees, transaction fees that charge users to process moves on the blockchain. Like other altcoins, $SIU can be staked to earn rewards, and it can also serve as a governance token. 'Pension funds, insurance firms, RIAs … these guys aren't buying tokens on-chain,' Xu told Advisor Upside. 'They want ticker symbols on Nasdaq.' Parallel Execution: Sui network's instant settling means it can process transactions much faster than competing blockchains in some situations, which Xu said is perfect for gaming and high-frequency DeFi. Daily active addresses are already in the millions, he said, and stable-coin liquidity is closing in on a billion dollars. If that went over your head, we had Xu simplify it: 'In other words, this isn't a ghost chain.' This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
22 minutes ago
- Yahoo
Dai-ichi Life to acquire 15% stake in British insurer M&G
Dai-ichi Life Holdings has revealed plans to acquire a 15% stake in UK-based insurer M&G through on-market purchases 'to capture long-term value creation opportunities across an array of strategic initiatives'. The acquisition, subject to regulatory approvals, is part of a long-term strategic partnership between the two companies covering asset management and life insurance. Once the 15% threshold is reached and certain conditions are met, Dai-ichi will have the right to appoint a director to M&G's board. Under the terms, M&G will become Dai-ichi's preferred asset management partner in Europe. The partnership will focus on growth, distribution and product development, with the aim of generating new business flows for both companies. M&G expects the partnership to support its expansion into European private markets and open new business opportunities in Japan and Asia. Dai-ichi will gain access to M&G's investment capabilities across public and private markets to support its own portfolio and client needs, and will collaborate to enhance Dai-ichi's expertise in bulk purchase annuities. Dai-ichi Life HD president and CEO Tetsuya Kikuta said: 'Dai-ichi Life Holdings is delighted to enter into a strategic alliance with M&G, a highly regarded global player in the insurance and asset management industries, to collaborate and develop capabilities together in multiple areas, especially in Europe. 'We see our partnership with M&G acting as a spearhead to develop our presence across Europe and the UK, accelerating our strategy to become a global top-tier insurance group.' The partnership is expected to generate at least $6bn in flows into M&G funds over five years, with Dai-ichi expecting at least $2bn (Y285.83bn) in new flows through investments and distribution of its products. An implementation agreement outlines Dai-ichi Life HD's governance rights and includes restrictions such as a two-year lock-up, a 19.99% shareholding cap and an orderly market arrangement for share disposals. Commenting on the partnership, M&G Group CEO Andrea Rossi stated: 'It brings together two highly complementary international businesses with shared growth ambitions who aim to deliver excellent client service and sustainable shareholder returns.' In April, TAL, a subsidiary of Dai-ichi Life Holdings, agreed to acquire a 15.1% stake in retirement solutions provider Challenger for Y80bn. "Dai-ichi Life to acquire 15% stake in British insurer M&G " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data