SOCAR completes acquisition of Italy’s Italiana Petroli
SOCAR has completed the acquisition of a 99.82% stake in Italiana Petroli (IP) from API Holding after receiving all r...
Prime Minister Keir Starmer has launched a major defence overhaul to prepare Britain for modern threats, but experts warn that the lack of clear funding raises doubts about its viability.
Prime Minister Keir Starmer has announced the most significant overhaul of the UK's defence strategy since the Cold War, unveiling plans to strengthen the nation's military capabilities in response to rising global threats. The new Strategic Defence Review (SDR) outlines a broad expansion of the armed forces and increased investments in cutting-edge technologies, but it has also triggered a wave of criticism over its financial feasibility.
The SDR aims to expand the British Army to 100,000 personnel, commission up to 12 new nuclear-powered submarines, and invest heavily in artificial intelligence, drones, and cyber defence capabilities. A new Cyber and Electromagnetic Command will also be established to counter emerging digital threats.
Starmer pledged to raise defence spending to 2.5% of GDP by 2027, with an “ambition” to reach 3% during the next Parliament. However, critics argue that the absence of a firm timeline for the 3% target raises questions about the government’s commitment. Defence experts and political opponents warn that without secured and sustainable funding, the ambitious proposals risk remaining unrealised.
Paul Johnson, director of the Institute for Fiscal Studies, cautioned that the scale of planned investment may necessitate significant tax increases unless offset by spending cuts elsewhere. “You cannot boost defence at this scale without either cutting other areas or raising taxes,” Johnson said.
Opposition MPs have called the review an “empty wish list,” expressing concern that the Labour government is making promises it may struggle to deliver. They point out that previous defence reviews also set high aspirations that later had to be scaled back due to budget constraints.
Despite the criticism, the government maintains that all 62 recommendations of the review will be implemented and insists that the UK must be prepared for the shifting security landscape shaped by Russia, China, and the rise of state-based threats.
The SDR marks a clear pivot in the UK’s defence posture, with Starmer stating: “We must be battle-ready in a world that is increasingly unstable.” Still, without detailed financial planning, the success of the strategy remains uncertain.
The U.S military said it carried out retaliatory strikes on Iran on Thursday (7 May). Meanwhile, Iran's Joint Military Command accused the U.S. of breaching the ceasefire, by striking an Iranian oil tanker in the Strait of Hormuz and launching attacks on several Iranian cities.
The U.S. and Iran exchanged fire in and around the Strait of Hormuz, though both sides signalled they did not want escalation. The clashes come as Washington awaits Tehran’s response to a proposed deal to end the war while leaving key disputes, such as Iran’s nuclear programme, unresolved for now.
Singapore has isolated and is testing two of its residents who travelled aboard a cruise ship linked to a deadly hantavirus outbreak, the Communicable Diseases Agency (CDA) said on Thursday.
Efforts to end the U.S.-Iran war appeared to stall as the two sides exchanged fire in and around the Strait of Hormuz. A reported CIA assessment suggested Tehran could withstand a U.S. naval blockade for months despite mounting sanctions and renewed Gulf attacks.
Ukraine’s military said it struck a Russian Karakurt-class small missile carrier in the Caspian Sea near Russia’s Dagestan region on Thursday. The extent of the damage is still being assessed, according to Kyiv.
Somalia is facing a severe malnutrition crisis and urgently needs additional humanitarian funding to prevent conditions deteriorating further, the World Food Programme has warned.
British Prime Minister Keir Starmer vowed to carry on as leader on Friday (8 May) after his ruling Labour Party suffered heavy losses in local elections. Labour lost hundreds of councillors across the country, as some figures in the party said he should stand down.
Indonesian rescue teams have located two Singaporeans who went missing after Mount Dukono erupted on Friday (8 May) on the island of Halmahera, though authorities say it remains unclear whether they are alive.
Health authorities are monitoring a widening hantavirus alert after new suspected cases emerged in Spain and on a remote South Atlantic island, days after an outbreak on a cruise ship left three people dead and several others infected.
The U.S. Defense Department has released dozens of previously classified files on unidentified anomalous phenomena (UAP) on Friday (8 May), following an order from President Donald Trump. U.S. officials described as a push for “unprecedented transparency”.
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