July 16, 2024
Image default
Worldwide

Defence stocks climb as Germany boosts military spending

Published by
Reuters UK

(Reuters) -Defence stocks in Europe and the United States surged in a falling market on Monday after news that Germany will increase its military spending in response to Russia’s invasion of Ukraine. German Chancellor Olaf Scholz said on Sunday that defence spending in Europe’s biggest economy will be increased to 2% of gross domestic product, from an estimated 1.53% in 2021, according to NATO statistics. The country has resisted pressure to increase its military spending in the past, owing to its 20th-century history and despite international pressure to do so. An increase to 2% would match t…

Read More

Related posts

Biden announces new $700 million in military aid for Ukraine

The_Proponent

Ukraine reports Russian attacks from multiple directions

The_Proponent

U.S. and UK to punish Putin’s elite friends if Russia invades Ukraine

The_Proponent

EU to hit Russia with new sanctions over ‘barbaric attack’ on Ukraine

The_Proponent

Putin grants Edward Snowden Russian citizenship

The_Proponent

More seek gun training in Taiwan as Ukraine war drives home China threat

The_Proponent

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.