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Germany Considers EU Borrowing Exemption to Boost Defence Spending

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Germany is likely to request an exemption from the European Union’s borrowing limits to ramp up defence spending without violating fiscal rules, German Finance Minister Joerg Kukies said on Friday. Speaking on the sidelines of the IMF and World Bank meetings in Washington, Kukies noted that the final decision is yet to be made and is under discussion within the German government in coordination with the incoming coalition partners. The move aligns with a European Commission proposal allowing member states to increase defence spending by up to 1.5% of GDP annually over four years, despite potential budget deficits.

Several countries, including Portugal and Poland, are expected to pursue similar exemptions as the EU aims to strengthen its collective defence capabilities by investing €650 billion over the next four years. Germany’s parliament recently approved a sweeping €500 billion fiscal package, including a special fund for infrastructure and measures to exempt defence spending from domestic borrowing caps. Kukies emphasized that Germany supports common European financing for military efforts but insists it must focus on genuine joint defence projects.

With Germany being the only G7 nation to see economic stagnation over the past two years, Kukies stressed the urgency of avoiding further recession. He highlighted the importance of reaching a trade agreement with the U.S. to prevent harmful tariffs, which could significantly affect both German and American economies. The new coalition government in Berlin is also prioritizing economic and tax reforms to revive growth, with the Social Democrats set to retain the finance ministry under the agreement reached after the February 23 election.

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Ajit Ravi Concludes 100 Life Challenge: A Mission of 100 Months of Giving

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After 100 consecutive months of sustained giving, Ajit Ravi has completed the “100 Life Challenge” — a commitment that saw him donate 80% of his 8-hour salary every month to support a wide range of charitable initiatives. The effort began in 2015 while he was working at Cochin International Airport Limited (CIAL), starting with financial aid for heart surgeries and eventually growing to include support for education, essential supplies, and other life-critical needs.

His unwavering consistency even through financial challenges and professional hurdles — including a period where he didn’t receive any salary — sets an inspiring example. Instead of stepping back, Ajit matched the intended donation with funds from elsewhere, ensuring not a single month went by without giving.

Ajit’s initiative was shaped by the concept of “Individual Social Responsibility (ISR),” which he developed to advocate for personal accountability in social change. “I hoped this would spark a movement,” he reflected, “but no one has followed through yet — and that’s disheartening.” Ajit’s journey reminds us all that one person’s steady commitment can create a ripple effect of change — and that doing good, no matter how quietly or consistently, is always worth celebrating.

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Attempt to Arrest Serb Leader Milorad Dodik Thwarted by Armed Police Forces

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Bosnia’s state police force, SIPA, attempted to arrest Milorad Dodik, the president of the Serb-dominated Republika Srpska, on Wednesday in East Sarajevo, but were blocked by heavily armed regional police loyal to Dodik. The arrest was ordered by the state court after Dodik and two of his close allies failed to respond to summonses linked to their separatist legislation, which had been suspended by Bosnia’s constitutional court.

Despite an active arrest warrant, Dodik has continued his public engagements across Republika Srpska under heavy protection. SIPA spokeswoman Jelena Miovcic confirmed that their officers were warned by Serb Republic police that any attempt to detain Dodik would be met with force. This ongoing defiance has heightened political tensions and exposed a growing rift between Bosnia’s central institutions and the Serb region’s leadership.

Dodik, who was previously sentenced to a year in prison and banned from politics for six years, remains at the center of Bosnia’s most serious political crisis since the 1990s war. His actions, backed by Russia and Serbia, have drawn condemnation and sanctions from the U.S., U.K., Germany, and Austria. Interpol recently declined a red notice request for his arrest, highlighting the international divisions over the escalating situation.

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UK Pay Growth Holds Steady at 3% Amid Economic Shifts

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British employers maintained pay increases at 3% during the three months to March, marking the fourth consecutive rolling quarter at this rate, according to new data from human resources analytics firm Brightmine. This figure also represents the joint-lowest rate of increase since December 2021, offering a potential sign of easing wage inflation—something likely to be welcomed by the Bank of England (BoE) as it weighs future interest rate cuts.

Despite significant policy changes taking effect in April—including a rise in national insurance contributions and a near 7% hike in the national minimum wage—there has been no immediate shift in employer wage strategies. “Currently the data isn’t showing any signs of a knee-jerk reaction to recent national insurance changes,” noted Sheila Attwood, Brightmine’s senior content manager. However, she added that many employers are adopting a “watch and wait” approach, suggesting potential adjustments may emerge later in the year.

The BoE is closely monitoring wage trends as it assesses the extent to which inflationary pressures in the labor market are subsiding. A clearer picture is expected in the second half of 2025, which could influence the central bank’s anticipated interest rate decision on May 8. Brightmine’s analysis covered 125 pay settlements impacting approximately 192,000 employees, revealing a shift toward more modest pay deals, particularly at the lower end of the pay spectrum.

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Russia Increases Hybrid Threats Against Netherlands, Warns Dutch Intelligence

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Russia is escalating its hybrid attacks aimed at undermining the Netherlands and its European allies, according to the latest annual report from the Dutch military intelligence agency (MIVD). MIVD Director Peter Reesink revealed that Russian hackers recently attempted cyber sabotage on a Dutch public service—marking the first known incident of its kind. Although the attempt was thwarted, the agency noted this as a significant escalation in Russia’s cyber activities targeting Europe.

The MIVD report further highlighted a Russian cyber operation against critical infrastructure in the Netherlands, potentially as groundwork for future sabotage. The intelligence agency also reiterated concerns about Russian espionage efforts in the North Sea, where infrastructure such as internet cables and energy supplies are being mapped for possible disruption. Western nations, including Britain, have recently echoed similar concerns, accusing Moscow of reckless acts of sabotage, though Russia has denied any involvement.

In addition to Russian threats, the report also flagged China’s continued espionage activities, particularly in the Dutch semiconductor sector. The MIVD warned of China’s increasing alignment with Russia’s war efforts and its pursuit of Western technological knowledge. Reesink called on European nations to accelerate military preparedness, noting that Russia’s rapid military buildup poses a growing risk that Europe must be ready to deter.

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UK Supreme Court Rules Equality Act Defines ‘Woman’ by Biological Sex

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In a landmark ruling on Wednesday, Britain’s Supreme Court declared that under the Equality Act 2010, the term “woman” refers to biological sex, not gender identity. The unanimous decision follows a legal challenge by campaign group For Women Scotland (FWS) against Scottish government guidance that included trans women with gender recognition certificates in female public sector board quotas. The court’s ruling affirms that single-sex services such as women’s refuges, hospital wards, and sports can legally exclude trans women, bringing clarity to a long-standing legal ambiguity.

The ruling has sparked mixed reactions across the country. While the UK government and groups like FWS welcomed the decision as a step toward protecting biological women’s rights and safety, LGBTQ+ advocates expressed deep concern. Organizations such as Stonewall warned that the decision could have far-reaching and harmful consequences, especially in areas like employment and healthcare access, though the court reiterated that trans people remain protected from discrimination under the Equality Act.

The case has reignited debate around transgender rights and women’s spaces in Britain, a topic that remains deeply polarized. High-profile figures like author J.K. Rowling praised the ruling for affirming the reality of biological sex, while trans campaigners like Ellie Gomersall described it as another setback for trans rights. Legal experts highlighted that while the decision brings clarity, it may prompt urgent calls for legislative reform to address gaps in trans protections.

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Russian Strikes Hit Sumy Again After Deadly Attack, Ukraine Demands Global Response

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Russia launched fresh missile and guided bomb attacks on the northeastern Ukrainian city of Sumy Monday evening, a day after a deadly missile strike killed 35 and wounded over 100. According to Ukraine’s Air Force, Russian aircraft dropped guided bombs shortly after another missile targeted the city outskirts, where no casualties were initially reported. The attack followed Sunday’s devastating strike, which President Volodymyr Zelenskiy condemned as a war crime, urging the international community to respond firmly.

Russia’s Defence Ministry claimed responsibility for the Sunday strike, saying two Iskander-M missiles hit a meeting of Ukrainian military officers, allegedly killing over 60 soldiers. Moscow also accused Ukraine of using civilians as human shields by placing military personnel in densely populated areas—an accusation Kyiv has not yet addressed. Ukrainian officials, however, maintained that the strike deliberately targeted civilians, occurring on Palm Sunday, a day when many people were gathered in churches.

Global leaders swiftly reacted to the violence. Zelenskiy confirmed that nearly 50 nations and organizations had expressed support. Britain, Germany, Italy, and France condemned the attacks, while U.S. President Donald Trump called it “a terrible mistake” without elaborating. Meanwhile, Russian officials reiterated that their military only targets strategic objectives. The UN has reported over 12,600 civilian deaths in Ukraine since the war began, underscoring the escalating humanitarian toll.

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Niox Group Halts Sale as Keensight Capital Withdraws Buyout Interest

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British medical device company Niox Group (NIOX.L) has announced the termination of its sale process following the withdrawal of interest from Keensight Capital. The Paris-based private equity firm had proposed acquiring Niox for £22.4 million ($29.1 million), offering 81 pence per share, an increase from its earlier bid of 78 pence. The deal, however, has now been scrapped due to deteriorating macroeconomic conditions, the company said on Friday.

Keensight’s decision to back out comes amid growing economic uncertainty driven by escalating global trade tensions. The ongoing trade war, intensified by sweeping tariffs from the U.S. under President Donald Trump’s administration, has shaken global markets and raised fears of a looming recession. The Bank of England also issued a warning this week, highlighting the UK’s vulnerability as an open economy with a significant financial sector.

In March, Niox had indicated that it was in talks with other potential buyers but expressed a preference for Keensight’s proposal, subject to a formal offer. With the latest development, the company has not provided updates on any alternative bids, leaving its future direction unclear amidst broader economic headwinds.

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Merz Secures Coalition with SPD Amid Trade War Fears and Rising AfD Support

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German conservative leader Friedrich Merz has successfully formed a coalition government with the centre-left Social Democrats (SPD), aiming to revitalize the country’s sluggish economy amid growing global trade tensions. After weeks of negotiation following February’s inconclusive election, the deal was announced Wednesday, just as fears of a global recession mount due to escalating tariffs triggered by U.S. President Donald Trump. At a press conference, Merz declared “Germany is back on track,” pledging tax cuts, increased defence spending, and a push to strengthen the electric vehicle industry.

The coalition agreement outlines major economic reforms, including lowering energy prices, scrapping a controversial supply chain law, and revisiting Germany’s strict “debt brake” policy. It also signals a harder stance on migration, with plans to restrict asylum processes and introduce voluntary military service. While Merz emphasized unity within the EU as a key to navigating global trade disputes, the coalition aims for a future transatlantic free trade deal. The CDU will control the chancellery, foreign, and economy ministries, while the SPD is expected to lead finance and defence, potentially retaining Boris Pistorius as defence minister.

However, the new government faces immediate challenges, as the far-right Alternative for Germany (AfD) has overtaken Merz’s conservatives in the latest Ipsos poll with 25% support. Despite Merz’s push for a borrowing-driven investment plan to boost infrastructure and defence, critics argue it undermines fiscal discipline. Economists warn that swift implementation of agreed policies is vital to cushioning Germany’s export-heavy economy from further trade shocks and averting a third straight year of recession.

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UK Finance Minister Rachel Reeves to Hold High-Level Talks Amid Market Volatility

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British Finance Minister Rachel Reeves is set to hold discussions with top executives from major financial firms including Hargreaves Lansdown, Legal & General, Lloyds Banking Group, and M&G, Sky News reported on Tuesday. The meetings come in response to ongoing volatility in global financial markets. While the finance ministry declined to comment on the report, the planned engagements signal a proactive approach to maintaining economic stability.

In a separate development, Reeves announced on Tuesday that she would soon meet with U.S. Treasury Secretary Scott Bessent. The talks are part of broader efforts to establish a new economic partnership between the United Kingdom and the United States. London is aiming to reduce tariff levies that have impacted trade between the two countries in recent years.

The push for a new partnership follows the imposition of steep tariffs by former U.S. President Donald Trump, including a 10% levy on most British imports and a 25% tariff on critical sectors such as automobiles and steel. As part of its economic strategy, the UK is seeking to renegotiate terms that could ease the burden on key industries and strengthen transatlantic trade relations.

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