live Iran's Araghchi says Hormuz deal 'very close' but hinges on U.S. compensation
A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that t...
Taiwan’s cabinet is set to propose a 16 per cent annual increase in defence spending for 2027, taking the total above T$1 trillion ($31 billion) for the first time, according to the official Central News Agency.
The increase comes as Taipei seeks to strengthen its military amid growing pressure from China and calls from Washington for Taiwan to spend more on its own defence.
The Central News Agency said the total, as in 2026, would exceed 3 per cent of Taiwan’s gross domestic product. Detailed figures are expected to be finalised at the cabinet’s last meeting before the announcement.
Taiwan has made military modernisation a key policy priority and has repeatedly pledged to increase defence spending, including through the development of domestically produced submarines.
China regards democratically governed Taiwan as part of its territory, a claim strongly rejected by Taipei, and has stepped up military and political pressure around the island in recent years.
Chinese military aircraft and vessels operate around Taiwan on an almost daily basis, while Beijing has also staged periodic military exercises, most recently in late December.
China is also rapidly modernising its armed forces with new aircraft carriers, stealth fighter jets and missile systems.
In March, Beijing announced a 7 per cent increase in its defence spending for 2026, taking the budget to 1.91 trillion yuan ($283.08 billion).
Washington has also urged Taiwan to increase its defence spending, a position President Lai Ching-te has supported.
Taiwan is currently holding its annual Han Kuang military exercises, designed to test the island’s readiness for a range of possible security scenarios.
Speaking while observing drills in the northern city of Taoyuan on Sunday, Lai said each exercise helped build experience and strengthen confidence within the military.
“Every bit of solid preparation in peacetime adds another measure of stability and strength for our nation,” Lai said in comments posted on Facebook.
China refuses to engage with Lai, describing him as a “separatist”. Lai says Taiwan’s future can only be decided by its people.
On Taiwan’s east coast, the military also conducted a nuclear, biological and chemical decontamination exercise on Sunday, simulating a chemical weapons attack.
Soldiers, tanks and armoured vehicles were decontaminated and disinfected as part of the drill.
The exercise was intended to test the military’s ability to respond rapidly to such an attack and return personnel and equipment to front-line operations as quickly as possible.
An agreement between Iran and the U.S. to reopen the Strait of Hormuz is expected "soon," a U.S. official has said. The deal would result in the resumption of commercial shipping through the sea passage and the lifting of an American naval blockade on Iranian ports.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 8th of August, covering the latest developments.
U.S. President Donald Trump said negotiations to reopen the Strait of Hormuz are progressing and suggested an agreement with Iran could be reached “soon”.
U.S. President Donald Trump may have to accept concessions he previously opposed if he wants to secure a deal with Iran to reopen the Strait of Hormuz, according to analysts, as negotiators move closer to a temporary agreement.
A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that the reopening of the waterway depends on the U.S. meeting other conditions, including paying compensation to Iran.
Global food commodity prices rose in July to their highest level since January 2023, driven by higher cereal, sugar and vegetable oil prices, according to the UN Food and Agriculture Organization (FAO).
Ukrainian President Volodymyr Zelenskyy said Ukraine is increasingly penetrating Russia's air-defence network, as both sides stepped up overnight strikes on energy, logistics and port infrastructure.
Türkiye has started restricting commercial ship traffic into the Black Sea due to the government's increasing concern about a surge in Russian and Ukrainian attacks on ships, Bloomberg News has reported, citing unnamed sources.
Spain checked around 200 travellers arriving from Italy on the first day of reintroduced border controls, following a dispute between the two countries over irregular migration.
Typhoon Dolphin is expected to make landfall on China’s east coast overnight on Sunday, bringing torrential rain and powerful winds as authorities prepare for flooding and landslides across large parts of eastern China.
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