In a significant move, the United States and South Korea have finalized a new defense cost-sharing agreement that raises South Korea's contribution by 8.3% to $1.13 billion for 2026, after extensive negotiations.

Meanwhile, as global tensions escalate, the Nobel Prizes are set to be announced, kicking off with physiology or medicine and potentially spotlighting peace efforts in the Middle East or Sudan, despite debates on withholding the Peace Prize due to global conflicts.

Over in Germany, travelers may face delays at Frankfurt Airport due to a technical glitch in the air traffic control system affecting data transmission, reflecting a challenging day for travel amid an improving situation at other hubs like Dusseldorf.

Turning to Lebanon, the crisis deepens with displacement shelters overwhelmed by those fleeing Israeli strikes. Scarce shelter options and closed border crossings with Syria exacerbate the struggles for thousands, including many vulnerable workers from abroad.

In a brighter economic development, Saudi Arabia's reserve assets soared to a 21-month high, enhancing the kingdom's fiscal strength and supporting Vision 2030 initiatives, thanks to robust foreign reserves that underpin financial stability and investor trust.

Finally, on the Red Sea, tensions rose with the attack on the oil tanker Cordelia Moon by a Houthi drone, marking escalating maritime threats and incidents as broader geopolitical disputes continue to unfold in the region.