Latest news with #HeikoBecker
The Star
4 days ago
- Business
- The Star
ECB supervisors focus on risks from tariffs to cyber attacks, central bank sources say
FILE PHOTO: A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo FRANKFURT/MADRID (Reuters) -European Central Bank supervisors are focusing on issues ranging from tariffs to cyber attacks and a possible dollar shortage as they assess potential risks to the region's banking industry, five senior central bank officials told Reuters. The ECB is looking into these risks amidst a global trade war and conflicts, such as the war in Ukraine. Chief ECB supervisor Claudia Buch said on Tuesday the central bank would test banks' resilience to geopolitical risk next year, telling them to come up with scenarios that had the potential to wipe out large chunks of their capital. In addition to this, ECB supervisors have been incorporating these risks into their regular checks for months, the sources, who asked to remain anonymous as details of the ECB's supervisory work are confidential, said. Banks have been told to watch their exposure to other countries, both via operations abroad and through credit to exporters, supervisors have told Reuters. Cyber attacks are also seen as a risk, particularly in Baltic countries, which have previously been the targets of Russian hackers, the sources said. The ECB has also told banks to prepare for a global dollar drought, for example if the Federal Reserve withdraws its lifelines, as Reuters reported earlier this year Supervisors are not telling banks to cut their exposures and they are not making specific recommendations at this stage, but rather urging banks to tighten their controls and think about contingency plans. The checks are taking place as part of the ECB's annual Supervisory Review and Evaluation Process and banks' own estimate of their liquidity needs, known in regulatory jargon as the Internal Liquidity Adequacy Assessment Process. An ECB spokesperson declined to comment. (Reporting by Francesco Canepa and Jesus Aguado; Editing by Sharon Singleton)
The Star
4 days ago
- Politics
- The Star
Germany's top court dismisses complaint against U.S. drone missions via Ramstein
German Constitutional Court second senate vice president Doris Koenig announces a verdict at Germany's Federal Constitutional Court on the 2012 U.S. drone strikes in Yemen, that were steered from the U.S. air base in Ramstein, in Karlsruhe, Germany, July 15, 2025. REUTERS/Heiko Becker BERLIN (Reuters) -Berlin is not violating international law by allowing the United States to use a military base on German soil to conduct drone strikes, Germany's constitutional court ruled on Tuesday. The court ruling was in response to a constitutional complaint filed by Yemeni nationals whose relatives were killed in a U.S. drone strike in 2012. At issue is the question of whether Germany has a responsibility to ensure that using a relay station for sending satellite data to drones at Ramstein Air Base does not violate international law. The court ruled that while Germany does have a general duty to protect fundamental human rights, even those of foreigners abroad, the conditions triggering that duty were not met. Berlin's view that the U.S. interpretation of international law is fundamentally acceptable falls within the discretion granted it in foreign and security policy, said the court. The German government had argued that Germany's ability to take part in military alliances would be jeopardised if it had to ensure operations conducted by foreign militaries abroad adhered to Germany's understanding of international law simply because they had a base on German soil. The United States and Germany are allies in NATO and Washington has had a military base at Ramstein since 1948. (Reporting by Ursula Knapp, Writing by Miranda Murray, editing by Kirsti Knolle and Madeline Chambers)
Straits Times
4 days ago
- Business
- Straits Times
Germany's top court dismisses complaint against U.S. drone missions via Ramstein
Find out what's new on ST website and app. German Constitutional Court second senate vice president Doris Koenig announces a verdict at Germany's Federal Constitutional Court on the 2012 U.S. drone strikes in Yemen, that were steered from the U.S. air base in Ramstein, in Karlsruhe, Germany, July 15, 2025. REUTERS/Heiko Becker BERLIN - Berlin is not violating international law by allowing the United States to use a military base on German soil to conduct drone strikes, Germany's constitutional court ruled on Tuesday. The court ruling was in response to a constitutional complaint filed by Yemeni nationals whose relatives were killed in a U.S. drone strike in 2012. At issue is the question of whether Germany has a responsibility to ensure that using a relay station for sending satellite data to drones at Ramstein Air Base does not violate international law. The court ruled that while Germany does have a general duty to protect fundamental human rights, even those of foreigners abroad, the conditions triggering that duty were not met. Berlin's view that the U.S. interpretation of international law is fundamentally acceptable falls within the discretion granted it in foreign and security policy, said the court. The German government had argued that Germany's ability to take part in military alliances would be jeopardised if it had to ensure operations conducted by foreign militaries abroad adhered to Germany's understanding of international law simply because they had a base on German soil. The United States and Germany are allies in NATO and Washington has had a military base at Ramstein since 1948. REUTERS Top stories Swipe. Select. Stay informed. Singapore $3b money laundering case: MinLaw acts against 4 law firms and 1 lawyer over seized properties Singapore Man charged with attempted murder of woman at Kallang Wave Mall Singapore Ex-cleaner jailed over safety lapses linked to guard's death near 1-Altitude rooftop bar Singapore Real estate firm PropNex donates $6 million to Community Chest for 25th anniversary Singapore Sengkang-Punggol LRT gets 15.8 per cent capacity boost with new trains Singapore Air India crash: SIA, Scoot find no issues with Boeing 787 fuel switches after precautionary checks Singapore $230,000 in fines issued after MOM checks safety at over 500 workplaces from April to June Multimedia From local to global: What made top news in Singapore over the last 180 years?
Straits Times
08-07-2025
- Business
- Straits Times
Trading with dictators, EU may be funding threats to itself, ECB says
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo FRANKFURT - The European Union is increasingly trading with autocratic regimes, funding their often expansionary strategy and potentially aiding an existential challenge to the bloc itself, a European Central Bank blog post said on Tuesday. The EU has long prided itself on running a values-based economic policy, with trade relations taking into consideration factors such as social justice, human rights, labour rules, and environmental standards. But reality is quite different and trade with autocratic regimes has steadily risen from 1999 until the bloc imposed widespread sanctions on Russia after its invasion of Ukraine, the blog post authored by ECB economists Claudia Marchini and Alexander Popov argued. "Our findings show that, despite its pledges, the EU is indeed increasingly trading with countries run by autocrats and dictators," the blog, which does not reflect the ECB's views, said. "We see an interruption to this trend only recently." The shift comes as the EU has reallocated imports in favour of less democratic countries and because the quality of democratic governance has declined among existing trading partners. "'Trading with dictators' amounts to generating profits for regimes that often have an explicit expansionary and militaristic agenda," the blog said. "Ultimately, this can potentially become an existential challenge to the EU." The article, however, dismisses the argument that increased trade with China is the culprit, claiming that a similar trend can be observed even if China is excluded. Top stories Swipe. Select. Stay informed. Singapore NDP celebrations to be held at 5 heartland sites, including Bishan and Punggol, on Aug 10 Singapore NDP 2025: Tank that bumped into traffic light lost steering and braking power due to faulty part Singapore AI cannot supplant learning, it must enable it: Desmond Lee Singapore SIA flight from Brisbane to Singapore diverted to Perth due to technical issue: Report Business ShopBack to scale up its payments business as it gets major payment institution licence Asia China warns Trump on tariffs, threatens retaliation on supply chain deals Singapore Grab to trial driverless shuttle for staff between Media Circle office and one-north MRT station Multimedia 'I suspect he's cheating': She finds proof when spouses stray It also disputes that democracy was itself on the decline, arguing that the median country outside the bloc has actually become more democratic. On top of the reputational and existential threats, the trend is also concerning since many of the key resources needed for the bloc's green transition are found in countries run by autocrats, the blog added. "Our findings suggest a trade-off associated with the green transition," the blog said. "Current low-carbon technologies rely on a range of rare earth materials that are typically found in countries with autocratic regimes." REUTERS
The Star
21-06-2025
- Sport
- The Star
Soccer-Mbappe skips training again, set to miss Pachuca game
FILE PHOTO: Soccer Football - Nations League - Third Place Play Off Match - Germany v France - MHPArena, Stuttgart, Germany - June 8, 2025 France's Kylian Mbappe REUTERS/Heiko Becker/File Photo PALM BEACH GARDENS, Florida (Reuters) -Real Madrid forward Kylian Mbappe skipped Saturday's collective training session and is set to miss the 15-times European champions' Group H game against Pachuca at the Club World Cup, the club said. Mbappe, who was admitted to a Miami area hospital earlier this week with acute gastroenteritis, had stayed at the team hotel and would not be travelling to Charlotte, North Carolina, for Sunday's match, a Real spokesperson said. (Reporting by Julien Pretot; Editing by Clare Fallon)
