EU and Canada Prepare to Sign Security Pact Ahead of NATO Summit
The European Union and Canada are expected to sign a security and defense partnership on Monday at a summit that will kick off a range of discussions about how they can work closer together.
Canadian Prime Minister Mark Carney landed in Brussels late Sunday for the meetings, and one of his government's objectives is to see Canada participate in SAFE, the EU's €150 billion ($173 billion) joint military procurement loan fund.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Washington Post
15 minutes ago
- Washington Post
NATO leaders are set to agree a historic defense spending pledge, but the hike won't apply to all
THE HAGUE, Netherlands — NATO leaders are expected to agree this week that member countries should spend 5% of their gross domestic product on defense, except the new and much vaunted investment pledge will not apply to all of them. Spain has reached a deal with NATO to be excluded from the 5% of GDP spending target , while President Donald Trump said the figure shouldn't apply to the United States, only its allies.
Associated Press
24 minutes ago
- Associated Press
PETRONAS Lubricants India Secures Aftermarket Service Fill Contract from Mahindra Automotive Division, Strengthening Its Presence in India
MUMBAI, INDIA - Media OutReach Newswire - 23 June 2025 - PETRONAS Lubricants (India) Pvt. Ltd. (PLIPL), a subsidiary of PETRONAS Lubricants International (PLI), has been awarded the Aftermarket Service Fill contract by Mahindra & Mahindra Ltd. (Mahindra), India's leading SUV manufacturer, strengthening its footprint in the country's automotive lubricant segment. [From L-R] R. Veeraghavan, Senior Vice President Strategic Sourcing, Mahindra & Mahindra Ltd.; and Binu Chandy, Chief Executive Officer of PETRONAS Lubricants India Pvt. Ltd at the signing ceremony. PLIPL will be the sole distributor of vehicle fluids to Mahindra's authorised dealers, workshops and stockists under the Maximile brand within Mahindra's South Zone Distribution network in India. This includes engine oils, transmission oils, axle oils and steering fluids, spanning 50 Stock Keeping Units (SKUs), catering to a wide range of passenger cars and SUVs across the region. This collaboration marks a strategic step for PLIPL, reinforcing its commitment to deliver high performance, OEM-aligned solutions to India's rapidly growing automotive market. Through decades of engineering expertise, PLIPL's innovative products will now be accessible to a broader market, enabling more customers to experience its award-winning Fluid Technology Solutions™ while supporting the future of mobility in India with Mahindra as a trusted partner. Binu Chandy, Chief Executive Officer of PETRONAS Lubricants India Pvt. Ltd. [7th from Left] and R. Veeraghavan, Senior Vice President Strategic Sourcing, Mahindra & Mahindra Ltd., [6th from Left] accompanied by other PETRONAS Lubricants International and Mahindra representatives at the signing ceremony held in Mumbai on 19 June 2025. It reflects a shared vision between Mahindra and PETRONAS Lubricants International for delivering superior quality and performance in the automotive sector. With proven capabilities in R&D, manufacturing, and global distribution, PETRONAS Lubricants International is ideally positioned to support Mahindra's expansive service network and evolving customer expectations. The agreement was signed by Binu Chandy, Chief Executive Officer of PETRONAS Lubricants India Pvt. Ltd. and R. Veeraraghavan, Senior Vice President Strategic Sourcing, Mahindra & Mahindra Ltd., at the signing ceremony held in Mumbai on 19 June 2025. Hashtag: #PETRONASLubricantsInternational The issuer is solely responsible for the content of this announcement. About PETRONAS Lubricants International PETRONAS Lubricants International (PLI) is the global lubricants manufacturing and marketing arm of PETRONAS, Malaysia's dynamic global energy group. Established in 2008, PLI manufactures and markets a full range of high-quality automotive and industrial lubricant products in over 100 markets internationally. Headquartered in Kuala Lumpur, PLI also has offices around the world including Turin, Belo Horizonte, Beijing, and Chicago. PLI is the technical resource behind PETRONAS' partnership with the Mercedes-AMG PETRONAS Formula One Team, responsible for the design, development and delivery of the Fluid Technology Solutions™, which includes customised lubricants, fuels and transmission fluids to power the Silver Arrows. We are a progressive energy and solutions partner, enriching lives for a sustainable future. Our commitment remains to conduct and grow our business in ways that contribute positively to society and the environment. PLI is driving an aggressive business growth agenda as one of the leading global lubricants companies at the forefront of the industry, providing custom-made solutions for every need. For more information, please visit
Associated Press
24 minutes ago
- Associated Press
NATO leaders are set to agree a historic defense spending pledge, but the hike won't apply to all
THE HAGUE, Netherlands (AP) — NATO leaders are expected to agree this week that member countries should spend 5% of their gross domestic product on defense, except the new and much vaunted investment pledge will not apply to all of them. Spain has reached a deal with NATO to be excluded from the 5% of GDP spending target, while President Donald Trump said the figure shouldn't apply to the United States, only its allies. In announcing Spain's decision Sunday, Prime Minister Pedro Sánchez said the spending pledge language in NATO's final summit communique — a one-page text of perhaps half a dozen paragraphs — would no longer refer to 'all allies.' It raises questions about what demands could be insisted on from other members of the alliance like Belgium, Canada, France and Italy that also would struggle to hike security spending by billions of dollars. On Friday, Trump insisted the U.S. has carried its allies for years and now they must step up. 'I don't think we should, but I think they should,' he said. 'NATO is going to have to deal with Spain.' Trump also branded Canada 'a low payer.' NATO's new spending goals The 5% goal is made up of two parts. The allies would agree to hike pure defense spending to 3.5% of GDP, up from the current target of at least 2%, which 22 of the 32 countries have achieved. Money spent to arm Ukraine also would count. A further 1.5% would include upgrading roads, bridges, ports and airfields so armies can better deploy, establishing measures to counter cyber and hybrid attacks and preparing societies for future conflict. The second spending basket is easy for most nations, including Spain. Much can be included. But the 3.5% on core spending is a massive challenge. Last year, Spain spent 1.28% of GDP on its military budget, according to NATO estimates, making it the alliance's lowest spender. Sánchez said Spain would be able to respect its commitments to NATO by spending 2.1% of GDP on defense needs. Spain also is among Europe's smallest suppliers of arms and ammunition to Ukraine, according to the Kiel Institute, which tracks such support. It's estimated to have sent about 800,000 euros ($920,000) worth of military aid since Russia invaded in 2022. Beyond Spain's economic challenges, Sánchez has other problems. He relies on small parties to govern and corruption scandals have ensnared his inner circle and family members. He is under growing pressure to call an early election. Why the spending increase is needed There are solid reasons for ramping up spending. The Europeans believe Russia's war on Ukraine poses an existential threat to them. Moscow has been blamed for a major rise in sabotage, cyberattacks and GPS jamming incidents. European leaders are girding their citizens for the possibility of more. The alliance's plans for defending Europe and North America against a Russian attack require investments of at least 3%, NATO experts have said. All 32 allies have endorsed these. Each country has been assigned 'capability targets' to play its part. Spanish Foreign Minister José Albares said Monday that 'the debate must be not a raw percentage but around capabilities.' He said Spain 'can reach the capabilities that have been fixed by the organization with 2.1%.' Countries much closer to Russia, Belarus and Ukraine all have agreed to reach the target, as well as nearby Germany, Norway, Sweden and the Netherlands, which is hosting the two-day summit starting Tuesday. The Netherlands estimates NATO's defense plans would force it to dedicate at least 3.5% to core defense spending. That means finding an additional 16 billion to 19 billion euros ($18 billion to $22 billion). Setting a deadline It's not enough to agree to spend more money. Many allies haven't yet hit an earlier 2% target that they agreed in 2014 after Russia annexed Ukraine's Crimean Peninsula. So an incentive is required. The date of 2032 has been floated as a deadline. That is far shorter than previous NATO targets, but military planners estimate Russian forces could be capable of launching an attack on an ally within five to 10 years. The U.S. insists it cannot be an open-ended pledge and a decade is too long. Still, Italy says it wants 10 years to hit the 5% target. The possibility of stretching that period to 2035 also has been on the table for debate among NATO envoys. An official review of progress could also be conducted in 2029, NATO diplomats have said. ___ Suman Naishadham in Madrid contributed to this report.
