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Global Defense Spending Rises for First Time in 5 Years

A closely watched global defense report says 2014 will see the first overall increase in worldwide military spending in five years, led by increases in the Middle East, Russia and Asia. The annual IHS Jane's Defense Budget Review says it expects total global defense spending to reach $1.547 trillion dollars this year, a 0.6 percent increase from the previous year. The report adds that in 2013, four of five fastest-growing defense markets were in the Middle East, led by Saudi...

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