Red Sea Security & Trade: Houthi forces have rapidly seized Yemen’s Red Sea coastline, including Mocha and islands near Bab el-Mandeb, raising war-risk costs as traffic reportedly drops to around 26 ships a day versus pre-crisis levels near 70. Djibouti Humanitarian Pressure: Djibouti says arrivals of Yemenis fleeing the fighting have already exceeded national capacity, with Interior Minister Omar Abdi Said warning numbers could reach about 10,000 soon. Aid & Refugee Support: Qatar Charity pledged an initial $1mn for emergency assistance in Djibouti, targeting shelter, food, water, healthcare and hygiene for displaced families. Agri-Food Investment: Djibouti and the World Bank launched the Djibouti AgriConnect Compact to cut food import dependence by boosting livestock, horticulture and date value chains, with IFAD joining to support rural livelihoods and jobs. Regional Business & Logistics: Ethiopia inaugurated the first phase of its expanded Modjo logistics hub, doubling capacity to about 1 million containers and aiming to reduce reliance on Djibouti ports. Security Watch on Djibouti: A US think tank report says China upgraded its Djibouti base with new antennas and communications gear, potentially improving monitoring across the Middle East and Africa.