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Straits Times
26-05-2025
- Business
- Straits Times
NATO's Rutte says he assumes alliance will agree on 5% spending target
FILE PHOTO: NATO Secretary General Mark Rutte arrives at the 6th European Political Community summit at Skanderbeg Square in Tirana, Albania May 16, 2025. Leon Neal/Pool via REUTERS/File Photo BRUSSELS - NATO Secretary General Mark Rutte said on Monday that he assumes alliance members will agree to a broad defence spending target of 5% of gross domestic product during a summit in The Hague next month. "I assume that in The Hague we will agree on a high defence spend target of in total 5%," Rutte said at a meeting of the NATO Parliamentary Assembly in Dayton. "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 defence-related spending," he added. Reuters reported earlier this month that Rutte had proposed NATO members raise defence spending to 3.5% of their GDP, and a further 1.5% on broader security-related items to meet U.S. President Donald Trump's demand for a 5% target. NATO aims to agree on the new targets at a summit of alliance leaders in The Hague on June 24-25. Dutch Prime Minister Dick Schoof said earlier this month that "Rutte has sent a letter to all NATO members to say that he expects that the commitment at the NATO summit will be 3.5% on hard military spending, to be reached in 2032, and 1.5% on related spending such as on infrastructure, cyber security, and similar things also to be reached by 2032". REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
22-05-2025
- Business
- Straits Times
EU says it has begun to ease sanctions on Kosovo
FILE PHOTO: Vice-President of the European Commission Kaja Kallas arrives at the 6th European Political Community summit at Skanderbeg Square in Tirana, Albania May 16, 2025. Leon Neal/Pool via REUTERS/File Photo EU says it has begun to ease sanctions on Kosovo The EU's top diplomat Kaja Kallas on Thursday said the bloc has begun to lift sanctions on Kosovo, but that the process would be conditional on a sustained de-escalation of violence and hostilities in the north. The European Union placed economic curbs on the country in 2023 for its role in tensions in the Serb-dominated north, where leftist Albanian nationalist Prime Minister Albin Kurti has sought to extend government control. The bloc cut at least 150 million euros ($170 million)in funding, Reuters found. "As a sign of our commitment, I can announce that the EU has begun to gradually lift measures introduced in June 2023," Kallas told reporters in Pristina. "The decision opens the door for greater opportunities for crossovers, development and also closer ties with Europe. But it's conditional on sustained de-escalation in the North." Kallas also urged Kosovo's political parties to end disputes that have blocked the formation of a new government after February elections, saying functioning institutions were needed to secure EU membership. Kurti has repeatedly failed to secure the election of a new speaker, prompting fears of an economic backlash after months of political stalemate in one of Europe's poorest countries. Lawmakers have been meeting every 48 hours since mid-April to elect a new speaker, a step required before Kurti, who failed to win a majority in a February election, can try to form a coalition government. Kallas, who earlier on Thursday also visited Serbia, said that the 27-member bloc was opened to enlargement and wanted Kosovo to take advantage of the bloc's 6 billion euro Growth Plan for the Western Balkans. "For that to happen, Kosovo needs functioning institutions that can effectively implement reforms, and that's why I encourage all parties to break the political stalemates and swiftly form a government," she said. Both Kosovo and Serbia aim to join the European Union, but in order to make progress they need to normalise ties with each other and establish diplomatic relations. In 2013 the parties agreed to an EU sponsored dialogue, but little progress has been made. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
22-05-2025
- Business
- The Star
EU says it has begun to ease sanctions on Kosovo
FILE PHOTO: Vice-President of the European Commission Kaja Kallas arrives at the 6th European Political Community summit at Skanderbeg Square in Tirana, Albania May 16, 2025. Leon Neal/Pool via REUTERS/File Photo (Reuters) -The EU's top diplomat Kaja Kallas on Thursday said the bloc has begun to lift sanctions on Kosovo, but that the process would be conditional on a sustained de-escalation of violence and hostilities in the north. The European Union placed economic curbs on the country in 2023 for its role in tensions in the Serb-dominated north, where leftist Albanian nationalist Prime Minister Albin Kurti has sought to extend government control. The bloc cut at least 150 million euros ($170 million)in funding, Reuters found. "As a sign of our commitment, I can announce that the EU has begun to gradually lift measures introduced in June 2023," Kallas told reporters in Pristina. "The decision opens the door for greater opportunities for crossovers, development and also closer ties with Europe. But it's conditional on sustained de-escalation in the North." Kallas also urged Kosovo's political parties to end disputes that have blocked the formation of a new government after February elections, saying functioning institutions were needed to secure EU membership. Kurti has repeatedly failed to secure the election of a new speaker, prompting fears of an economic backlash after months of political stalemate in one of Europe's poorest countries. Lawmakers have been meeting every 48 hours since mid-April to elect a new speaker, a step required before Kurti, who failed to win a majority in a February election, can try to form a coalition government. Kallas, who earlier on Thursday also visited Serbia, said that the 27-member bloc was opened to enlargement and wanted Kosovo to take advantage of the bloc's 6 billion euro Growth Plan for the Western Balkans. "For that to happen, Kosovo needs functioning institutions that can effectively implement reforms, and that's why I encourage all parties to break the political stalemates and swiftly form a government," she said. Both Kosovo and Serbia aim to join the European Union, but in order to make progress they need to normalise ties with each other and establish diplomatic relations. In 2013 the parties agreed to an EU sponsored dialogue, but little progress has been made. ($1 = 0.8866 euros) (Reporting by Daria Sito-Sucic; Editing by Conor Humphries)
Straits Times
19-05-2025
- Business
- Straits Times
EU and UK reach tentative agreement ahead of summit, say EU officials
FILE PHOTO: TIRANA, ALBANIA - MAY 16: Ursula von der Leyen, President of the European Commission and Keir Starmer, Prime Minister of the United Kingdom stand together, ahead of their bilateral meeting at the 6th European Political Community summit on May 16, 2025 at Skanderbeg Square in Tirana, Albania. Leon Neal/Pool via REUTERS/File Photo FILE PHOTO: The European union flag is seen near The The Elizabeth Tower, commonly known as Big Ben in London, Britain, March 19, 2025. REUTERS/Carlos Jasso/File Photo BRUSSELS - The European Union and Britain reached a tentative agreement on defence and security, fisheries and youth mobility ahead of a EU-UK summit on Monday, paving the way for British firms to participate in large EU defence contracts, EU officials said. Representatives of EU governments in Brussels received a text of a Common Understanding between Britain and the EU and the document is now being approved by all 27 EU governments, the officials said. British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen and European Council President Antonio Costa will meet later on Monday in London. "There is an agreement ... on the different texts and parallel aspects of the EU-UK Summit," one EU diplomat said. "From my understanding, all member states seem to be happy with what's put on the table as the summit is about to start. There is now an ongoing written procedure to have the formal agreement of all member states but it shouldn't cause any problem," the diplomat said. Britain is poised to agree the most significant reset of ties with the European Union since Brexit on Monday, seeking closer collaboration on trade and defence to help grow the economy and boost security on the continent. "With the positive signs coming from the negotiators in London in the last days and hours, the scene is now all set for a very successful and constructive reset of the relationship, that both the EU and UK will benefit from," the diplomat said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
18-05-2025
- Business
- Straits Times
UK-EU edge towards a reset on e-gates, food and defence
British Prime Minister Keir Starmer arrives at the 6th European Political Community summit at Skanderbeg Square in Tirana, Albania May 16, 2025. Leon Neal/Pool via REUTERS/File Photo LONDON - Britain hopes to secure a reset deal with the European Union on Monday that would boost defence and security cooperation, and smooth the arrival of people and also food into the bloc, its chief negotiator said on Sunday. Prime Minister Keir Starmer will host EU leaders in London on Monday in the most significant effort to reset ties since Britain left the EU in 2020 after four years of acrimonious divorce talks. Wary of reigniting domestic battles over Brexit, and with its chief campaigner Nigel Farage a fierce political rival, Starmer is trying to secure a deal that will include tangible benefits for Britons to offset the concessions it will need to make to Brussels. Britain wants the deal to include the use of faster e-gates for British travellers at EU borders, reduced red tape on food trade, and a new defence and security partnership that could allow British companies access to an EU loan scheme worth 150 billion euros ($167 billion). It also hopes to agree closer ties on energy and carbon markets, better cooperation on migration smuggling gangs, the mutual recognition of certain professional qualifications, as well as access for touring artists and data sharing. In return, it is likely to agree a limited youth mobility scheme to enable young people in Britain and the EU to live and work in each other's countries, a British return to the Erasmus+ student exchange programme, and a longer-term agreement on fishing. While the outline of the defence and security pact is likely to emerge on Monday, it remains unclear how many other elements will be signed off by then. EU ambassadors were due to meet to discuss the final terms on Sunday. "We want a deal that makes a difference for the British people," Britain's EU negotiator Nick Thomas-Symonds, told Sky News. "What we are looking to deliver tomorrow is a deal that is going to be good for jobs, that's going to help to secure our borders, and it's going to help to lower household bills." Polls show that a majority of Britons regrets voting to leave the EU in 2016 and, while there are political risks in moving closer to Brussels, the government says Russia's invasion of Ukraine and uncertainty around U.S. protection for Europe mean new alliances are needed. The government has also made growing the economy its number one priority. A refusal to rejoin the EU's single market and customs union will limit the economic impact, but easier and faster trade across UK-EU borders will help. Starmer's government, which has struggled since it was elected last July, also secured a free trade deal with India earlier this month and persuaded U.S. President Donald Trump to reduce tariffs on some sectors. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
