Spain has stepped forward with a bold €14.1 billion relief package to shield its economy from the ripple effects of new U.S. tariffs, as Economy Minister Carlos Cuerpo warns of potential hits to the country’s GDP amid growing global trade tensions.
The series of tariffs announced by U.S. President Donald Trump on Wednesday could have a negative effect on Spain's gross domestic product, potentially reducing it by several tenths of a percentage point, Economy Minister Carlos Cuerpo warned on Friday.
While Spain’s direct economic exposure to the United States is relatively limited compared to other European Union nations, Cuerpo emphasized that a global slowdown in trade could indirectly impact the Spanish economy.
In response to the potential fallout, Spain on Thursday unveiled a substantial financial support package valued at €14.1 billion ($15.55 billion), comprising loans and direct aid. This initiative positions Spain as one of the few major economies to present a concrete and proactive solution to mitigate the repercussions of the newly imposed U.S. tariffs.
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The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
On 14 August, Azerbaijan’s Minister of Foreign Affairs Jeyhun Bayramov spoke by phone with his Kazakh counterpart, Murat Nurtleu.
Türkiye will provide Syria with weapons systems, logistics and military training under a new cooperation deal aimed at bolstering Syrian state forces and territorial integrity, a Turkish Defence Ministry source said on Thursday.
Kyiv has received $1.5 billion in commitments from European partners to purchase U.S.-made weapons, Ukrainian President Volodymyr Zelensky said on Thursday. He hailed the NATO mechanism enabling the deal as one that “truly strengthens our defence.”
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A resumption of Iraq’s Kurdish oil exports is not expected in the near term, sources familiar with the matter said on Friday, despite an announcement by Iraq’s federal government a day earlier stating that shipments would resume immediately.
A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
Kyiv has received $1.5 billion in commitments from European partners to purchase U.S.-made weapons, Ukrainian President Volodymyr Zelensky said on Thursday. He hailed the NATO mechanism enabling the deal as one that “truly strengthens our defence.”
Malaysian Prime Minister Anwar Ibrahim said on Thursday (14 August) that he has ordered authorities to conduct a swift and thorough investigation into an attack on a former minister's son that took place a day earlier.
Ukrainian President Volodymyr Zelenskyy will meet British Prime Minister Keir Starmer in London on Thursday, a day before U.S. President Donald Trump holds talks with Russian President Vladimir Putin in Alaska.
A major forest fire in northern Morocco is now largely under control, though efforts to fully extinguish it are still underway, the national water and forests agency (ANEF) said on Wednesday.
Supporters of the ruling Serbian Progressive Party (SNS) threw flares and firecrackers at anti-government protesters in Novi Sad on Wednesday evening, according to Reuters, prompting police to intervene to end the standoff, a major escalation of nine-month-long protests in Serbia.
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