Armenia–Azerbaijan ties lift economic outlook, Fitch says
Fitch Ratings, one of the world’s three major credit rating agencies, says the start of trade and economic relations between Armenia and Azerbaijan ...
Australia is set to accelerate A$1 billion in defence expenditure in Tuesday’s federal budget, as part of a broader effort to enhance its military capabilities, Defence Minister Richard Marles announced on Monday.
Marles outlined that the federal budget would include an increase of A$10.6 billion (US$6.66 billion) for defence over the next four years—a key component of a previously announced A$50 billion boost over a decade. He described this package as the most significant surge in defence spending since the end of World War II.
Speaking at the Avalon Air Show in Victoria, Marles emphasized that the accelerated spending would enable Australia to fast-track critical projects, including the development of guided weapons manufacturing capabilities, the establishment of an AUKUS submarine base at HMAS Stirling in Western Australia, and the procurement of a new frigate into the service fleet within the decade.
“This additional A$1 billion is necessary to accelerate our capability and development,” Marles said, highlighting that the funds will facilitate readying HMAS Stirling and launching the Henderson Defence Precinct as the base for the Submarine Rotational Force West. He also noted that the move will help advance the Guided Weapons and Explosives Enterprise at a faster pace.
Under the AUKUS pact, up to four U.S.-commanded and one British-commanded nuclear-powered submarines are expected to rotate through Australia’s largest naval base from 2027. The early injection of funds will also support the broader strategy of enhancing long-range strike capabilities.
In related developments, Australia has already received the first two of 42 High Mobility Artillery Rocket Systems (HIMARS) launcher vehicles ordered from Lockheed Martin. Brigadier Nick Wilson explained that the mobile, truck-mounted system—used in the war in Ukraine—will significantly enhance the nation's ability to deploy coastal operations, as it can be easily transported by ship or via C-17 and C-130 aircraft.
Defence Industry Minister Pat Conroy added that the Precision Strike Missile, with a 500-kilometre range, is slated for delivery this year to integrate with the HIMARS, further bolstering Australia’s regional strike capabilities.
The move comes amid ongoing pressure from U.S. President Donald Trump and other security allies for Australia to increase its defence spending, reflecting heightened regional security challenges and the need for a modernised military infrastructure.
At least four people were injured after a large fire and explosions hit a residential building in the Dutch city of Utrecht, authorities said.
A railway power outage in Tokyo disrupted the morning commute for roughly 673,000 passengers on Friday (16 January) as two main lines with some of the world's busiest stations were halted after reports of a fire.
Russian President Vladimir Putin has warned that the international situation is worsening and that the world is becoming more dangerous, while avoiding public comment on events in Venezuela and Iran.
President Donald Trump announced Thursday evening that the long-awaited “Board of Peace” to oversee Gaza’s reconstruction has officially been formed.
Venezuelan opposition leader Maria Corina Machado said she presented her Nobel Peace Prize medal to U.S. President Donald Trump during their meeting on Thursday, 15 January.
The UK economy grew more strongly than expected in November, according to official figures, offering signs of resilience after months of weak performance.
China recorded the world’s largest-ever trade surplus in 2025, reaching $1.2 trillion as exporters shifted focus away from the U.S. amid ongoing trade tensions.
A coalition of women’s rights organisations, technology watchdogs and progressive campaigners is urging Apple and Google, owned by Alphabet, to remove the social media platform X and its associated chatbot, Grok, from their app stores.
Boeing booked more aircraft orders than Airbus in 2025 for the first time since 2018, official figures showed, even as the European manufacturer delivered more planes during the year.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
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