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Australia to Invest $570m in domestic missiles production

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Australia unveiled a $570 million deal to build missiles domestically Thursday, a bid to beef up military capabilities amid a regional arms race.

Defence Industry Minister Pat Conroy announced a deal to develop naval and air-launched Joint Strike Missiles (JSM) at a plant north of Sydney.

The factory will break ground later this year, producing anti-ship cruise missiles and JSMs that can be fitted to state-of-the-art F-35A aircraft.

“This is about investing in our advanced, high-tech manufacturing industry and developing our sovereign defence industrial base,” said Conroy.

A defence official told AFP the factory would begin production in 2027 and would be capable of producing 100 missiles a year.
Both missiles were developed by Norway’s Kongsberg.

Concerns about China’s massive defence spending and Russia’s invasion of Ukraine have led many US allies to voice concern about a shortfall in munitions manufacturing capabilities.

Australia is among several Asia-Pacific nations dramatically increasing defence spending.

Asian defence spending reached a record US$510 billion in 2023, according to the International Institute for Strategic Studies, a London-based think tank.

Australia has launched a string of ambitious defence projects, including the development of a fleet of nuclear-powered submarines.

AFP

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International

Doumboya wins Guinea presidential election

Doumbouya, 41, faced eight rivals for the presidency but the main opposition leaders were barred from running and had urged a boycott of the vote held over the weekend.

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Guinea President Mamady Doumbouya (C) greets supporters during his final campaign rally ahead of the country’s presidential election in Conakry on December 25, 2025. (Photo by PATRICK MEINHARDT / AFP)

Guinea’s junta chief Mamady Doumbouya, who had pledged not to run for office after he seized power four years ago, has been elected president.

Doumboya secured a sweeping majority of the vote – 86.72 percent of the first-round vote, according to the General Directorate of Elections, well over the threshold that would trigger a runoff vote.

Voter turnout stood at 80.95 percent, according to Djenabou Toure, head of the General Directorate of Elections, on Tuesday

Doumbouya, 41, faced eight rivals for the presidency but the main opposition leaders were barred from running and had urged a boycott of the vote held over the weekend.

Doumbouya had placed well ahead in districts of the capital Conakry, often winning more than 80 percent, according to official partial results read out by Toure earlier on RTG public television.

He had a similar lead in several other areas, including Coyah, a town near Conakry, and in other parts of the country, such as Boffa and Fria in the west, Gaoual in the northwest, northern Koundara and Labe, and Nzerekore

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International

China to launch digital yuan” or “e-CNY” Jan 1

People’s Bank of China (PBoC) Deputy Governor Lu Lei, said “The future digital yuan will be a modern digital payment and circulation means issued and circulated within the financial system.”

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Image: China digital currency

China will on January 1 launch an “action plan” for boosting management and operations of its digital currency, a deputy governor of the country’s central bank said Monday.

AFP reports that monetary authorities around the world have in recent years been exploring ways to digitalise currencies, propelled by a boom in online payments during the pandemic and the increased popularity of cryptocurrencies such as bitcoin.

People’s Bank of China (PBoC) Deputy Governor Lu Lei, said “The future digital yuan will be a modern digital payment and circulation means issued and circulated within the financial system.”

In the next step towards that goal, a “new generation” arrangement for digital yuan will be launched on January 1, Lu said, encompassing a “measurement framework, management system, operating mechanism and ecosystem”.

The “action plan” will see banks pay interest on balances held by clients in digital yuan — a move to incentivise broader adoption of the currency.

The plan also includes a proposal to establish an international digital yuan operations centre in the eastern financial hub of Shanghai, the report said.

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Crime

Invictus Obi Released from U.S. Prison After Serving Time in $11 Million Fraud Case

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Obinwanne Okeke, the Nigerian businessman popularly known as Invictus Obi, has been released from United States federal prison after serving approximately six years for his involvement in an $11 million internet fraud scheme, multiple reports confirmed on Thursday.

Records from the U.S. Federal Bureau of Prisons (BOP) inmate locator indicate that Okeke is listed as “Not in BOP Custody as of: 12/23/2025,” signaling his exit from federal incarceration ahead of his original projected release date of September 3, 2028.

Okeke, 38, was sentenced to 10 years in prison in February 2021 after pleading guilty to conspiracy to commit wire fraud. The charges stemmed from a sophisticated business email compromise (BEC) scheme between 2015 and 2019, where he and associates used phishing tactics to divert funds, including a major interception targeting Unatrac Holding Limited, a UK-based exporter linked to Caterpillar Inc.

Prosecutors described the operation as causing “staggering losses of about $11 million” to victims through impersonation and computer hacking.

His early release is widely attributed to good conduct credits and provisions under the First Step Act, a U.S. criminal justice reform law that allows sentence reductions for certain non-violent offenders.

Reports from outlets including Linda Ikeji’s Blog, Peoples Gazette, and BusinessDay indicate that deportation proceedings to Nigeria are underway, consistent with his non-U.S. citizen status and the terms of his plea agreement. As his crimes were federal, a transfer to state custody is considered unlikely.

Once hailed as a rising star in African entrepreneurship, Okeke founded the Invictus Group, claiming investments in construction, agriculture, oil and gas, telecommunications, and real estate across Nigeria, South Africa, and Zambia.

In 2016, he was featured on Forbes Africa’s 30 Under 30 list, celebrated for his purported success story from humble beginnings.

His 2019 arrest by the FBI at Dulles International Airport as he attempted to leave the U.S. marked a dramatic fall, sparking widespread discussions on cybercrime, the allure of quick wealth, and scrutiny of young Nigerian entrepreneurs.

With his release, questions now focus on Okeke’s future: potential supervised release conditions in the U.S., his return to Nigeria, and any ongoing restrictions.

No official statement has been issued by U.S. authorities or Okeke’s representatives regarding the exact terms of his release.

The case continues to highlight global efforts to combat BEC scams, which remain a significant threat to businesses worldwide.

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