EU Flexes Muscle Boosts Defense and Backs Ukraine

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The EU makes a strong move with a €150 billion defence pledge to back Ukraine and boost its military strength. Meanwhile, Trump is considering new measures to push Russia towards peace, and India faces crucial trade talks with the U.S.

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WORLD
EU Boosts Defense, Reaffirms Support for Ukraine

European leaders have pledged to increase defence spending and stand by Ukraine, fearing U.S. uncertainty under Donald Trump. At a Brussels summit, they backed €150 billion in joint borrowing for military funding, signalling a push for greater self-reliance.

French President Emmanuel Macron and Polish PM Donald Tusk stressed the need for autonomous defence, while German Chancellor Olaf Scholz urged efforts to keep U.S. support. A 26-member declaration reaffirmed backing for Ukraine, though Hungary’s Viktor Orban abstained.

Ukrainian President Volodymyr Zelenskiy proposed an air and sea truce to test Russia’s intent. Meanwhile, France’s nuclear deterrent emerged as a possible European security option. With 40% of Ukraine’s military aid previously from the U.S., EU nations like Germany and Norway are increasing defence budgets to counter growing threats.

MORE ABOUT THE WORLD
Trump Mulls Sanctions, Tariffs to Push Russia-Ukraine Peace

President Trump is considering banking sanctions and tariffs on Russia to force a ceasefire with Ukraine. This follows his pause on military aid to Kyiv, pressuring it to negotiate as Russia gains ground. With existing sanctions already hitting Russia’s economy, Trump's move could tighten the squeeze further.

WHAT’S GOING ON?
Russia Attacks Ukraine's Power System

Russia unleashed a massive missile and drone barrage on Ukraine’s energy infrastructure, crippling power supplies and wounding civilians. Ukraine’s air defences, including newly deployed French Mirage-2000 jets, intercepted many strikes, but key energy sites took a hit.

With U.S. aid frozen and battlefield struggles mounting, Zelenskyy is scrambling for support. He secured Turkey’s backing for a ceasefire on civilian infrastructure, while EU leaders pledged to boost defence spending. As Trump pushes for immediate peace talks, Ukraine faces a fight for survival—both on the battlefield and diplomatically.

ECONOMY
US to India: lower tariffs, distance from Russia, and Seal the Deal

The US is pushing India to slash tariffs and ramp up defence purchases from American firms as part of a broader trade deal, Commerce Secretary Howard Lutnick said. He urged India to reduce reliance on Russian military equipment and open up protected sectors like agriculture.

With Trump’s reciprocal tariffs set to take effect in April, Washington wants India’s duties—among the world’s highest—brought down to near-zero in most sectors. Aiming for $500 billion in trade by 2030, both nations are negotiating a phased deal, with initial agreements expected by fall 2025.

India, which bought $20 billion in US defence products since 2008, may soon acquire F-35 fighter jets. However, Washington remains firm—lower tariffs and deeper defence ties are key to a “grand” bilateral deal.

ENERGY
DNO to Acquire Sval Energi for $1.6 Billion

DNO has agreed to acquire Sval Energi for $1.6 billion, including a $450 million cash payment and debt assumption. The deal boosts DNO’s North Sea production to 80,000 boepd, bringing total output to 140,000 boepd by 2024.

Sval’s assets, including stakes in 16 fields like Ekofisk, strengthen DNO’s North Sea presence, reversing its focus after years in the Middle East. However, challenges remain in Iraq’s Kurdistan region, where DNO faces legal disputes affecting oil sales. The acquisition will be financed with cash and debt.

AI & TECHNOLOGY
Google’s Larry Page Launches AI Startup Dynatomics

Google co-founder Larry Page is reportedly building a new AI-focused startup, Dynatomics, aiming to revolutionize product manufacturing. The company is working on AI-driven technology to create optimized designs for products and enable factories to produce them. Chris Anderson, former CTO of Kittyhawk, is leading the project.

Dynatomics joins a growing list of companies exploring AI’s potential in manufacturing. Other firms, like Orbital Materials and PhysicsX, are using AI to innovate in fields such as material discovery and engineering simulations, while Instrumental applies AI to detect factory anomalies.