Economy

Nuclear weapons spending surges to record high of $119bn, report says

International Campaign to Abolish Nuclear Weapons says states spent an extra $16.8bn on their nuclear arsenals in 2025.

Chinese embassy in Washington, DC, condemns designation, calling it ‘discriminatory’.

Xi Jinping commits to deeper cooperation with Kim Jong Un on rare state visit to North Korea.

Botswana’s diamond-driven economy is under mounting strain as global demand weakens and production falls.

EXPLAINER

Chinese President Xi has been welcomed in Pyongyang for his first visit since 2019.

OpenAI did not disclose the size or terms of the offering and said a timeline has not yet been determined.

Cities remain optimistic despite lagging hotel bookings and high ticket prices that might deter foreign travellers.

In a ruling on Monday, a federal judge said the fee was a tax that Trump did not have the authority to impose.

IATA forecasts $350bn airline fuel bill for 2026, with profits dipping to their weakest margin since the COVID-19 years.

South Korea’s main index plunges nearly 9 percent, while stocks in Japan, Taiwan and Hong Kong also see sharp falls.