Latest news with #MargaritaRobles
Yahoo
4 days ago
- Business
- Yahoo
Spain will stick to 2% of GDP defence spending goal, defence minister says
MADRID (Reuters) -Spain stands by its defence spending target of 2% of GDP, Spanish Defence Minister Margarita Robles said on Thursday, as pressure grows from NATO leadership and the United States for the Mediterranean country to increase it. "We think that this 2% is enough to meet the responsibilities we have committed to," Robles said. Spain will not veto a NATO decision to raise the defence spending target during a summit to be held later this month in The Hague, she said. "What is important is that each country is able to meet the objectives it has set itself," she added. Spanish Prime Minister Pedro Sanchez announced in April a plan to increase military spending by 10.5 billion euros ($11.99 billion) this year, bringing forward to this year a goal to meet the 2% of GDP target from its previously self-imposed deadline of 2029. Despite the new plan Spain, which spent just 1.3% on defence in 2024, the lowest among NATO members, is under pressure to spend even more. European defence commissioner Andrius Kubilius said on May 3 Spain ought to raise spending to 3% of GDP. ($1 = 0.8755 euros)
Reuters
4 days ago
- Business
- Reuters
Spain will stick to 2% of GDP defence spending goal, defence minister says
MADRID, June 5 (Reuters) - Spain stands by its defence spending target of 2% of GDP, Spanish Defence Minister Margarita Robles said on Thursday, as pressure grows from NATO leadership and the United States for the Mediterranean country to increase it. "We think that this 2% is enough to meet the responsibilities we have committed to," Robles said. Spain will not veto a NATO decision to raise the defence spending target during a summit to be held later this month in The Hague, she said. "What is important is that each country is able to meet the objectives it has set itself," she added. Spanish Prime Minister Pedro Sanchez announced in April a plan to increase military spending by 10.5 billion euros ($11.99 billion) this year, bringing forward to this year a goal to meet the 2% of GDP target from its previously self-imposed deadline of 2029. Despite the new plan Spain, which spent just 1.3% on defence in 2024, the lowest among NATO members, is under pressure to spend even more. European defence commissioner Andrius Kubilius said on May 3 Spain ought to raise spending to 3% of GDP. ($1 = 0.8755 euros)
Straits Times
4 days ago
- Business
- Straits Times
Spain will stick to 2% of GDP defence spending goal, defence minister says
Spanish Defence Minister Margarita Robles speaks during the La Toja Forum on global challenges in Lisbon, Portugal, April 1, 2025. REUTERS/Pedro Nunes/File Photo Spain will stick to 2% of GDP defence spending goal, defence minister says MADRID - Spain stands by its defence spending target of 2% of GDP, Spanish Defence Minister Margarita Robles said on Thursday, as pressure grows from NATO leadership and the United States for the Mediterranean country to increase it. "We think that this 2% is enough to meet the responsibilities we have committed to," Robles said. Spain will not veto a NATO decision to raise the defence spending target during a summit to be held later this month in The Hague, she said. "What is important is that each country is able to meet the objectives it has set itself," she added. Spanish Prime Minister Pedro Sanchez announced in April a plan to increase military spending by 10.5 billion euros ($11.99 billion) this year, bringing forward to this year a goal to meet the 2% of GDP target from its previously self-imposed deadline of 2029. Despite the new plan Spain, which spent just 1.3% on defence in 2024, the lowest among NATO members, is under pressure to spend even more. European defence commissioner Andrius Kubilius said on May 3 Spain ought to raise spending to 3% of GDP. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
CTV News
6 days ago
- Business
- CTV News
Spain cancels contract for anti-tank missiles built by Israeli subsidiary
Spain's Defence Minister Margarita Robles arrives for a meeting of the Ukraine Defence Contact Group at NATO headquarters in Brussels, on April 11, 2025. (AP Photo/Geert Vanden Wijngaert, File) MADRID — Spain has cancelled a deal for anti-tank missile systems that were to be manufactured in Madrid by a subsidiary of an Israeli company, in a bid to move away from Israeli military technology, the Defence Ministry said Tuesday. The decision will affect the licence for 168 SPIKE LR2 anti-tank missile systems with an estimated value of 285 million euros (US$325 million). The systems would have been developed in Spain by Pap Tecnos, a Madrid-based subsidiary of Israel's Rafael Advanced Defense Systems, according to local press. 'The goal is clear...a total disconnection from Israeli technology,' government spokesperson Pilar Alegría told reporters, adding the government is studying 'the effects of the cancellation.' Israel's Defense Ministry referred questions on the decision to Rafael, which declined to comment. Pap Tecnos did not comment. Spain approved the deal on Oct. 3, 2023, four days before an insurgent assault led by Hamas on southern Israel that sparked a devastating war in Gaza. Spain's leftist government says it stopped exporting arms to Israel as of Oct. 2, 2023, but there where reports some shipments slipped through. Authorities argued at the time that the systems used by the Spanish forces were obsolete and should be replaced for up-to-date versions like those used by allied armies. Spain formally recognized a Palestinian state in May 2024 a coordinated effort with Norway and Ireland. A month later, Spain became the first European country to ask the top United Nations court, the International Court of Justice, permission to join a case mounted by South Africa that accuses Israel of genocide in Gaza. Israel strongly denies the charge. ____ AP journalist Natalie Melzer in Nahariya, Israel, contributed. The Associated Press
Mid East Info
04-04-2025
- Business
- Mid East Info
EDGE Group Strengthens Regional Partnership with Indra at LAAD 2025 - Middle East Business News and Information
Both companies expand operations in Latin America, advancing defence and security projects with local governments Rio de Janeiro, Brazil:EDGE Group LATAM Office and Indra, a leading global Defence and Technology company, have announced a Regional Agreement at LAAD 2025, Latin America's largest defence and public security exhibition, currently taking place in Rio de Janeiro. The agreement builds on the PULSE joint venture, formalised by EDGE Group and Indra and officially signed last year in the presence of the Spanish Minister of Defence Margarita Robles. It aims to enhance cooperative engagements in the Latin American defence and security market. By consolidating their partnership, EDGE and Indra will deliver solutions for government and municipal clients, leveraging their advanced defence and security portfolios. This collaboration strengthens regional ties and reinforces their commitment to expanding strategic operations across Latin America. About EDGE: Launched in November 2019, the UAE's EDGE is one of the world's leading advanced technology groups, established to develop agile, bold and disruptive solutions for defence and beyond, and to be a catalyst for change and transformation. It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive. With a focus on the adoption of 4IR technologies, EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security, working with front-line operators, international partners, and adopting advanced technologies such as autonomous capabilities, cyber-physical systems, advanced propulsion systems, robotics and smart materials. EDGE converges R&D, emerging technologies, digital transformation, and commercial market innovations with military capabilities to develop disruptive solutions tailored to the specific requirements of its customers. Headquartered in Abu Dhabi, capital of the UAE, EDGE consolidates more than 35 entities into six core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, Technology & Innovation, and Homeland Security. About Indra: Indra is a leading Spanish multinational and one of the foremost global defence, air traffic and space companies that, through technology, protects our current way of life and anticipates the needs of the future. Its committed team of experts, its in-depth knowledge of the business and the latest technologies, and its unique innovation and systems integration capabilities make it the trusted technology partner for key operations and digitalization for its customers around the world. Thanks to its leadership in major European programs and projects, as well as its spirit of collaboration and partnership strategy, it drives the industrial and innovative ecosystem in these sectors. The company is part of Indra Group, which posted revenues totalling €4.843 billion in the 2024 fiscal year, with a local presence in 49 countries and business operations in over 140 countries.
