Taiwan President Lai Ching-te announced Friday that he hopes the island’s defence spending will reach 5% of gross domestic product (GDP) by 2030, raising the target for bolstering the military budget in line with U.S. recommendations.

Foreign weapons and defense technology manufacturers appear set to benefit from Europe's defense surge, potentially sidelining the continent's own industry despite rapidly increasing military budgets.

Europe’s small and medium-sized defense companies are struggling to secure financing for innovation and production growth, despite rising demand from the war in Ukraine and other conflicts, according to government officials, firms, and experts, New.Az reports citing Reuters .

German Defence Minister Boris Pistorius has expressed his dissatisfaction with the outcome of the budget negotiations for the country's defence budget, News.Az reports citing DW.

Poland’s defence spending for 2025 will soar to a new record high, 10 per cent up than last year, the country’s Defence Minister Władysław Kosiniak-Kamysz has announced.

NATO’s European allies will boost their military spending for a fair burden-sharing on both sides of the Atlantic, German Defense Minister Boris Pistorius said on Friday, News.Az reports citing Anadolu Agency.