Red Sea Security Shock: Saudi Arabia says it intercepted and destroyed a Houthi ballistic missile aimed at Riyadh at dawn, after residents reported explosions and black smoke near King Khalid International Airport; flights were cancelled or delayed before an all-clear. Shipping & Insurance Costs: With Bab el-Mandeb risk rising, war-risk cover and detours are pushing up oil and freight prices, while traffic through the strait thins and becomes more selective. Djibouti Refugee Pressure: UN agencies report over 112,000 people displaced in Yemen in two weeks, with nearly 3,000 fleeing by sea to Djibouti; Djibouti is preparing for up to 10,000 arrivals, straining health and education services. Regional Response: The AU calls for Red Sea de-escalation, warning attacks on economic infrastructure and threats to merchant shipping could hit African economies and energy security. Djibouti Trade & Port Momentum: Djibouti ranks 53 globally in the World Bank container port performance index, jumping sharply from last year, reinforcing its role as a key gateway for the Horn of Africa. China’s Djibouti Base Upgrade: A US think tank says China has expanded monitoring capabilities at its Djibouti base with new antennas and communications assets, boosting its regional intelligence reach.