Armed forces

Global military spending hit an all-time high in 2023, report says

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Three servicemen are staying in a tank of the 1st Tank Brigade of the Ukrainian Ground Forces, concealed by camouflage nets in Ukraine, on March 31, 2024. (Photo by Ukrinform/NurPhoto via Getty Images) Ukrinform | Nurphoto | Getty Images Global military spending reached a record high of $2,443 billion in 2023 amid a “global deterioration … Read more

Red Sea battle expands with EU stepping up its efforts against Houthis

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The battle for the freedom of navigation in the Red Sea has expanded with the entrance of a European Commission naval defense effort in the past week, and more U.S. and allied strikes against Houthi land targets over the weekend, but to date, combined military efforts have not deterred rebel attacks. On Saturday evening, United … Read more

Trade leaders urge governments around world to join Red Sea defense

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A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. Sayed Hassan | Getty Images Trade associations representing sectors across the global economy have joined an open letter urging more governments around the world to join Red Sea maritime security efforts. The letter, obtained exclusively by CNBC, was … Read more

How chaos in the Red Sea is putting the U.S. Navy to the test

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The U.S. Navy is encountering a tenacious threat in the Red Sea. The Iran-backed Houthi rebels have launched wave after wave of low-cost precision weapons at vessels transiting the area, including attacks on U.S. warships themselves. “That’s one of the things [that] the Red Sea sort of demonstrates … we never know where the maritime … Read more