Latest news with #BalticStates
Yahoo
2 days ago
- Business
- Yahoo
Novaturas Group Secures Additional EUR 1 Million Loan
Tour operator Novaturas Group announces a decision by its Board of Directors to expand the loan agreement with its strategic investor from Turkey, Neset Kockar. The company has agreed with the investor to receive an additional EUR 1 million loan and to extend the maturity of the existing short-term EUR 1 million loan. This capital reinforcement will enable Novaturas to further strengthen its financial capacity necessary for achieving the operational goals. Novaturas first announced the loan from the Turkish investor in March this year. At that time, the company disclosed that it had signed an agreement with Mr. Kockar for a short-term loan of up to EUR 1 million, to be repaid by 30 June 2025, with an annual interest rate of 8.5%. Following the amendments to the agreement, the loan maturity is extended to 30 June 2026. In addition, the company will receive a further EUR 1 million loan under the same conditions: an annual interest rate of 8.5% and a maturity date at the end of June 2026. This new agreement reflects the growing cooperation between Novaturas and its strategic investor, as well as the benefits such partnership Novaturas Group is a tour operator offering the widest range of travel destinations from the Baltic States. It has been operating in the region for 25 years. The company offers summer and winter recreational, sightseeing, exotic, skiing, workation and group trips to many destinations worldwide. According to unaudited data, in 2024, Novaturas Group recorded revenues of EUR 201 mln. and served 239 thsnd. passengers in Lithuania, Latvia and Estonia. For more information:Darius UndzėnasCFO+370 678 05749Sign in to access your portfolio
Irish Times
3 days ago
- Politics
- Irish Times
The Irish Times view on Germany's new troop deployment: a sea change to the east
German chancellor Friedrich Merz told the cheering crowd in Lithuania's capital last week that 'Protecting Vilnius is protecting Berlin.' Inaugurating the first permanent deployment of Germany's military on foreign soil since the second World War, Merz pledged to help defend 'every inch' of Nato. Vladimir Putin's brutal war in Ukraine and his expansionist ambitions, notably aimed at countries he still regards as part of the Soviet Union, have buried any historical anti-German animus in nervous Baltic states. It has also removed Germany's historic reluctance to re-arm and deploy abroad. Today the UK has 900 soldiers stationed in Estonia and Canada, has 1,900 in Latvia. Germany's will in time be the biggest of the ramped up Nato deployments in the Baltic states. The German deployment currently numbers some 400 soldiers, to be increased by 2027 to a full 5,000, plus their families. By then the Lithuanians, at a cost close to €1.5 billion, will have built what amounts to a small town, including a school, day-care centres as well as barracks and shops, to accommodate them. The tank battalion will be stationed about 30km from the Belarusian border, its priority to safeguard the strategically critical 100 kilometre border with Poland, the 'Suwalki Gap', the only land link between the Baltic states and the rest of the EU. READ MORE The German deployment is a major manifestation of former Chancellor Olaf Shulz's radically new defence strategy, Zeitenwende – or 'sea change'– in response to the 2002 invasion of Ukraine. Merz has taken it on board with enthusiasm , backing Nato's five per cent of GDP defence spending target and pledging to spend up to €100 billion on re-equipping his country's neglected armed forces. The Bundeswehr marching through Vilnius, no less than the speedy accessions of Finland and Sweden to Nato, are the real fruit of Putin's bloody, misguided, and deeply counterproductive bid to curtail Nato's reach.
ABC News
6 days ago
- Politics
- ABC News
German troops to be based in Lithuania
Samantha Donovan: For the first time since World War II, German troops are to be based in another country. About 5,000 soldiers make up a new unit that will be stationed in Lithuania. After Russia's invasion of Ukraine, the unit's purpose is to bolster the defence of Lithuania and the neighbouring Baltic republics Latvia and Estonia. Isabel Moussalli prepared this report. Isabel Moussalli: In Lithuania's capital Vilnius, soldiers march through the streets while dozens of military helicopters fly above. This is a momentous occasion, the inauguration of a new German brigade. German Chancellor Friedrich Merz addresses the crowds. Friedrich Merz: We must be able to defend ourselves against such attacks at all times. Freedom is not for free and we are aware of our own responsibility. Isabel Moussalli: Germany has had troops in Lithuania since 2017, but this new unit represents a significant change as Germany works to strengthen its military in the face of Russian aggression. Lithuania borders the Russian area of Kaliningrad, which is detached from the rest of Russia, and Belarus, which is an ally to Moscow. Friedrich Merz: More than ever before, we depend on solidarity and friendship among liberal democracies. Peace in Europe has been broken. Each and every day, Russia is violating the order that we collectively adopted as a lesson from the horrors of the Second World War. With a criminal war of aggression against Ukraine, but also with attacks and murders in numerous European cities, with acts of espionage and sabotage. Isabel Moussalli: On these Lithuanian streets, residents take a closer look at the tanks moving through their neighbourhood. This man welcomes their arrival. Opinion: It really gives us more safety, more precaution and we are just, as a country, we are more ready about it. So I'm very happy that Germans are here. I'm very happy that my country is collaborating with Germany. Isabel Moussalli: But another resident, Nicole Zinkova, has mixed feelings. Nicole Zinkova: You need to defend yourself, so this is important to have. But at the same moment, it makes me sad pretty much, because we need it. Isabel Moussalli: Maria Rost Rublee is a professor of international relations at the University of Melbourne. Prof Maria Rost Rublee: This is pretty historic. This is the first time since World War II that Germany is going to have a permanent foreign troop deployment. And it's historic because of course, World War II, you know, the German loss and concerns about German aggression. Germany had taken a very low profile in terms of defence and military spending. But now, with concerns about Russia's aggression, you know, Germany has taken on a new role. Isabel Moussalli: While it may be a significant move, Professor Rublee says it's not significant in terms of numbers. Prof Maria Rost Rublee: Essentially, this is a German brigade, which is about 5,000 troops and supporting civilians. And so it's not as though that this is going to turn the tide against any Russian invasion if Russia did decide to invade Lithuania. But what this says is that Germany is taking on a new role that sees that Lithuania's security is German security, that NATO security is German security, and that they're essentially going to, you know, stand up and move past the backseat role that it's been taking in defence and security for a long time. Isabel Moussalli: And this isn't the only change. Prof Maria Rost Rublee: Another historic first in terms of defence and security for Germany. They've just amended the country's basic law, essentially their constitution, allowing them to exempt defence spending from Germany's strict debt rules. And so Germany is taking on a much more, a much more leadership role in Europe in terms of defence spending, military positioning and thinking as well. Isabel Moussalli: The new unit is expected to reach its full strength by the end of 2027. Samantha Donovan: Isabel Moussalli reporting.
Free Malaysia Today
6 days ago
- Business
- Free Malaysia Today
Merz to visit Lithuania as Germany helps bolster Nato's eastern flank
German Chancellor Friedrich Merz will participate in a ceremony in Lithuania's capital Vilnius to officially mark the formation of the heavy combat unit. (EPA Images pic) FRANKFURT : Chancellor Friedrich Merz visits Lithuania today to mark the official formation of Germany's first permanent overseas military unit since WWII, aimed at bolstering Nato's eastern flank against a hostile Russia. The decision to build up a 5,000-strong armoured brigade in Lithuania over the coming years came in response to Russia's full-scale invasion of Ukraine in 2022. The deployment is aimed at deterring potential Russian aggression towards Lithuania and fellow Baltic countries Estonia and Latvia, former Soviet states that have become Nato and EU members and fear they are increasingly in Moscow's crosshairs. While Germany has joined multinational military missions, including in Afghanistan and Mali, a pacifist tradition stemming from its dark WWII history meant Berlin was generally reluctant to do more. The establishment of a permanent brigade overseas is thus an unprecedented move for the Bundeswehr, as the German armed forces are known, in the post-war era. Merz, who became chancellor this month, will participate in a ceremony in the capital Vilnius that officially marks the formation of the heavy combat unit, the 45th tank brigade, also known as the 'Lithuania Brigade'. This will be an 'important milestone on the path to the permanent stationing of a German brigade on Nato's eastern flank', deputy government spokesman Steffen Meyer said last week. The brigade, to consist of around 4,800 troops and 200 civilian Bundeswehr employees, will be gradually deployed over the coming years and should reach full operational capability by 2027. An advance party of around 400 Bundeswehr personnel are already in the country, according to the defence ministry. Bigger role Merz, who has vowed to build up Europe's 'strongest conventional army' by ramping up defence spending, will be keen to use the trip to highlight that Berlin is taking on a bigger role on the international stage amid dizzying political upheavals. US President Donald Trump has heaped pressure on fellow Nato members to increase defence spending, sparked fears about American commitment to Europe, and caused shock with his overtures to Russian President Vladimir Putin as he pushes for a swift Ukraine peace deal. German defence minister Boris Pistorius, who will join Merz on the visit, said last month that the Lithuanian deployment 'sends a strong message of solidarity and readiness'. 'Germany is stepping up,' he added during events to mark the 70th anniversary of Germany joining the 32-member Nato military alliance. Merz is also due to meet Lithuanian President Gitanas Nauseda during his visit, with shared concern about Russia likely to dominate talks. Lithuania, with a population of 2.8 million, borders both the Russian exclave of Kaliningrad and Moscow's ally Belarus, and the German defence ministry considers it to be 'the most endangered state on Nato's eastern flank'. Growing hostility There have been signs of Russia ramping up hostile activities, with Moscow frequently accused of using 'hybrid warfare' tactics in the Baltic Sea. Earlier this month a Russian spy plane was spotted in Belarus apparently attempting to observe a multinational Nato military exercise in Lithuania, news outlet Der Spiegel reported. But Germany's troop deployment is not without its difficulties. Some question whether the Bundeswehr, suffering from personnel and equipment shortages after years of underfunding, is prepared for what the defence ministry describes as 'one of the most complex and ambitious projects' in its history. While Germany has been seeking to channel more funds to the military, new equipment will take years to order and produce. Meanwhile the Bundeswehr, which is aiming to boost its number of soldiers to 203,000 by 2031, has been struggling to recruit. Parliament in January passed a law aimed at making the military a more attractive career, including more flexible working arrangements and greater financial incentives.
The Guardian
7 days ago
- Politics
- The Guardian
Germany bolsters anti-Russian defence on Nato eastern flank
The Germany chancellor has visited Lithuania to mark Berlin's first permanent foreign troop deployment since the second world war, as he called on allies to dramatically expand their efforts to bolster European defences against a hostile Russia. As a crowd waved Lithuanian, German and Ukrainian flags, Friedrich Merz and his defence minister, Boris Pistorius, attended a ceremony launching the official formation of an armoured brigade aimed at protecting Nato's eastern flank. The new heavy combat unit, the 45th tank brigade, will be comprised of 4,800 German soldiers and 200 civilian staff. It was announced in response to Russia's full-scale invasion of Ukraine in 2022 and is scheduled to reach full operational capacity by 2027. Merz said: 'Together with our partners, we are determined to defend the alliance territory against any aggression. The security of our Baltic allies is also our security.' The deployment, unprecedented for the Bundeswehr, is aimed at shoring up the defence of Lithuania and fellow Baltic republics Estonia and Latvia, former Soviet states that have become Nato and EU members and which fear a Russian attack. At a news conference in Vilnius with Lithuania's president, Gitanas Nausėda, Merz said 'Russia's aggressive revisionism' seeking to redraw the European map created grave security risks for the entire continent, not just Ukraine. Merz, the first chancellor to have himself served in the Bundeswehr, said: 'We stand firmly by Ukraine but we also stand together as Europeans as a whole and we play, whenever possible, as a team with the US.' In the build-up to a Nato summit next month in The Hague, Merz said the alliance must 'sustainably strengthen European defence capabilities and our defence industry must expand its capabilities – it has to produce more for Europe and produce more in Europe'. Nausėda thanked Merz for Germany's show of support with the new combat unit formed at the request of Lithuania, which with its 2.9 million inhabitants borders Russia's Kaliningrad exclave and Moscow-allied Belarus. He said: 'We understand the threat and believe that we can face up to the threat with our allies,' noting that Lithuania planned to reach a new Nato goal of spending 5% of gross domestic product on defence by next year. Merz said Germany, as Europe's biggest economy, would reach the same benchmark by 2032 based on a calculation of 3.5% of GDP for military procurement and 1.5% for infrastructure of military relevance including roads, bridges and ports. Merz's muscular rhetoric has been welcomed by European partners as a continuation and expansion of the Zeitenwende (turning point) in defence policy set out by his predecessor Olaf Scholz. While Scholz's centre-left-led government created a €100bn (£84bn) special fund to buy defence equipment and eventually met a Nato commitment of defence spending of 2% of GDP, Merz has moved to release the constitutional debt brake to allow far more military investment. In his first significant speech to parliament last week, Merz vowed after years of neglect to build up Europe's 'strongest conventional army'. Germany has no nuclear weapons of its own. The German chancellor said: 'This is appropriate for Europe's most populous and economically powerful country. Our friends and partners also expect this from us. Indeed, they practically demand it.' Sign up to Headlines US Get the most important US headlines and highlights emailed direct to you every morning after newsletter promotion Pistorius, who was also defence minister under Scholz, pledged when the new government took over this month that Germany would be 'ready to defend every square inch of Nato territory' and called the Lithuania brigade 'a clear signal to any potential adversary'. Donald Trump has strong-armed fellow Nato members to boost military spending, often singling out Germany in his accusations of European 'freeloading' at Washington's expense. The US president has also troubled European allies with conflicting messages on his stance toward Ukraine's defence, while raising fears about the US commitment to Nato's mutual defence clause. Asked about reports Trump could order a draw-down from the continent, Merz said on Thursday he had 'no indication that the US would withdraw troops from Europe'. The commitment to Baltic security has posed several challenges for Germany, including finding enough personnel willing to serve there. In January, the Bundestag passed legislation to make the prospect more attractive, including more flexible working hours and increased allowances and overtime pay. Before Merz's visit, Lithuania's defence minister, Dovilė Šakalienė, told Germany's Frankfurter Allgemeine newspaper how crucial plausible deterrence toward Russia was, sharing Pistorius's assessment that Russia could be in a position to attack a Nato state within five years. She said: 'Every Lithuanian knows: if the Russians come, no one will be spared.'
