1. Business
  2. Morning briefing
August 13, 2018updated 10 Aug 2018 11:21am

Trump spends $717bn on defence / Korea continues unification talks / Saudi Airlines cancels Canada flights

By Luke Christou

Good morning, here’s your Monday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.

Trump signs over $717bn for national defence

President of the United States Donald Trump today travels to the Fort Drum United States military reservation in New York to sign off on the annual National Defense Authorization Act, the White House has confirmed.

The act will confirm how much the US Government will spend on defence and on which policies the money will be spent in 2019. According to reports, some $717bn will be committed to the defence budget.

The President has hiked defence spending in a bid to rebuild the military a White House official has said.

The visit was first confirmed by US Representative Elise Stefanik, whose district includes the Fort Drum base.

“I am honoured that President Trump has accepted my invitation to visit Fort Drum and the brave men and women of the 10th Mountain Division on Monday,” Stefanik said. “I am honoured that the president will sign the historic National Defense Authorization Act in our district at Fort Drum.”

North and South Korea continue unification talks

North and South Korea will meet today for the latest high-level talks on reunification of the Korean Peninsula.

South Korean Unification Minister Cho Myoung-Gyon will lead the talks as the two nations push on to implement the Panmunjom Declaration, which was drawn up following ground-breaking talks between leaders Moon Jae-in an Kim Jong Un back in April.

The declaration outlines the plans and commitments that each nation has agreed to in a bid to end the Korean War and bring about a new era of peace.

Included is North Korea’s agreement to denuclearise the peninsula. Kim Jong Un’s government has reluctantly started to move towards completing that goal, dismantling a number of nuclear weapon assembly plants following promising talks with South Korea, the United States and China.

Saudi Airline suspends flights to Toronto

All flights between Toronto and Saudi Arabia will be suspended from today onwards, as the dispute between the Arab state and Canada continues.

The suspension is a result of a Tweet posted by the Canadian government earlier this month, which willed Saudi Arabia to “immediately release” peaceful civil and women’s rights activists.

The Saudi government hasn’t taken the Tweet too well. It has since expelled Canada’s ambassador from the country and asked its own envoy to return from Canada immediately. Saudi Arabian trainee doctors and students have also been ordered to leave the North American country. Likewise, it has vowed to halt future trade with Canada.

The suspension of flights between Canada and Saudi Arabia comes as more than two million worshippers prepare to descend on Mecca for the annual Hajj pilgrimage on 19 August, throwing the plans of many into chaos.

Last week’s highlights

Spoilers, social media and selling: The future of the movie advertisement business

Impossible Burger creators: ‘innovative’ and ‘sustainable’ will become synonymous for future businesses

The best Netflix original series 2018 – Stranger Things is finally toppled