WORLD MILITARY EXPENDITURE

Despite Western sanctions over the Ukraine war, Russia has transitioned from an upper-middle to a high-income economy, according to the World Bank's latest rankings. Factors such as increased military activity, a rebound in trade and construction, a...

Gold prices eased as traders reduced rate cut expectations by the U.S. Federal Reserve, awaiting U.S. inflation data this week.

Kenneth Rogoff, former chief economist of the IMF and Maurits C. Boas Chair of International Economics at Harvard University, discusses the record rise in military expenditure worldwide. He argues that military spending is not good for growth or con...

China's defence budget for 2024 increases by 7.2% to CNY 1.66554 trillion ($231.4 billion), prioritizing the People's Liberation Army (PLA). Premier Li Qiang aims to achieve Xin Jinping's goal of creating a modern military by 2027, with a focus on T...

India and China's rise is changing the world order, impacting the global geopolitical scenario. The relations between the two countries have faced disruptions due to China's military build-up. Efforts have been made to maintain equilibrium, but buil...

Finance Minister Nirmala Sitharaman has unveiled a staggering allocation of Rs 6.21 lakh crore for the Ministry of Defence during the Interim Budget presentation. This marks a 4.3% increase from the previous year, constituting 13.04% of the Union Bu...

China's top lawmakers ousted nine senior military officers from the national legislative body on Friday, state media reported, a step that typically precedes further punishment for wayward cadres. Many of these were from the Rocket Force - a key arm...

2024 is likely to be a year where political risks eclipse hard economic risks. These go beyond the possibility of an escalation of tensions in Ukraine, or the Gaza conflict spreading to the larger Arab world. Elections are known to breed uncertainty...

The world depends on China for batteries because of the country’s material processing and battery production capacity. The effort is on to reduce this grip.

With a focus on self-reliance, large investment outlays in research and development, and a push towards setting up defence corridors, India is steadily transforming into a hub for defence production.

Russia's 2022 invasion of Ukraine has left tens of thousands of dead, displaced millions and sown economic turmoil across the world. The war has caused death on a level not seen in Europe since World War Two. From Feb. 24, 2022 to May 21, 2023, 8,89...

The independent Swedish watchdog said that last year, the three largest arms spenders were the United States, China and Russia, who between them accounted for 56% of global expenditure. The rise "is a sign that we are living in an increasingly insec...

Historian Peter Frankopan has said climate change may not be the catalyst for major changes but could become a “complicator” adding to existing problems. Trade has been critically linked to climate throughout history, and Frankopan explains that pas...

Reducing chances of corruption and wastage leads to positive public opinion due to the confidence that public money is being spent optimally and prudently and this increases the possibility of greater funding by the legislature, the defence minister...

State media reports indicated Kim didn't attend the Supreme People's Assembly's two-day session that ended on Wednesday. Pyongyang's official Korean Central News Agency didn't mention any comments by assembly members toward the United States or Sout...

"The five largest spenders in 2021 were the United States, China, India, the United Kingdom and Russia, together accounting for 62 per cent of expenditure," SIPRI said in its latest report.

Defence Minister Rajnath Singh on August 28 said the demand for military equipment is increasing continuously and by 2023 the expenditure on security around the world is going to reach US$ 2.1 trillion. Expenditure on security around world going to ...

India’s annual military expenditure, of course, includes a huge pension bill for 33-lakh million veterans and defence civilians. In the 2021-2022 defence budget, for instance, the pension bill was Rs 1.15 lakh crore out of the total Rs 4.78 lakh cro...

The five biggest spenders in 2020, which together accounted for 62% of military spending worldwide, were the United States, China, India, Russia and Britain in that order.