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US, Japan mull biggest defense agreement update in 6 decades

The United States and Japan plan the largest update of the security agreement in over 60 years in a bid to counter China and North Korea, the Financial Times reported.

Chinese-owned tanker hit by Houthi missile in Red Sea

A Chinese-owned oil tanker was attacked off Yemen Saturday by ballistic missiles from Houthi rebels, who have intensified strikes on Red Sea shipping, the United States military said.

Somali forces, foreign navies prepare operation on hijacked Bangladeshi ship

Somali police and international navies were preparing on Monday to attack the Bangladesh commercial ship “MV Abdullah” that was hijacked by Somali pirates last week, the Puntland region`s police force said, two days after Indian commandos rescued another cargo vessel held by pirates.

Europe short of €56bn per year to achieve NATO target

European NATO member states require additional €56 billion every year year in order to achieve the target defense spending level of 2 per cent of GDP, the Financial times reported, citing the research by the Leibniz Institute for Economic Research at the University of Munich (ifo).