WASHINGTON America and Britain led the world in conventional arms export agreements in 1996, displacing Russia from its number one ranking the year before, according to U.S. estimates. Topping its rivals by wide margins, the U.S. posted $11.3 billion worth of conventional arms export agreements last year, up from $9.2 billion in 1995 and accounting for 35.5% of the nearly $32 billion grand total registered in 1996.

LONDON The U.K.’s National Audit Office (NAO) said more than half of 25 major defense equipment programs it reviewed are over budget and only five achieved or were on track to meet projected in-service dates. The independent accounting office’s annual report to Parliament for 1996 said the 25 programs, worth more than 33 billion pounds ($54 billion), are estimated to cost 694 million pounds ($1.1 billion), or 2%, less than originally forecast.