U.S. finalises $38 bn military deal with Israel
The United States will provide Israel’s military with $38 billion during the next 10 years, officials said on Tuesday, the largest batch of military assistance the U.S. has ever pledged to another country.
Following months of behind-the-scenes negotiations, the State Department said the two countries had reached a 10-year agreement, with a signing ceremony planned for Wednesday. The U.S. and Israel haven’t disclosed the exact sum, but officials familiar with the deal said it totals $3.8 billion a year up from the $3.1 billion the U.S. gave Israel annually under the previous 10-year deal.
Boost to U.S. industry
Mr. Obama’s national security adviser, Susan Rice, planned to attend the ceremony at the State Department, a senior Obama administration official said. Israel’s acting national security adviser, Jacob Nagel, arrived in Washington ahead of the announcement and was also expected to attend.
Under the agreement, Israel’s ability to spend part of the funds on Israeli military products will be gradually phased out, eventually requiring all of the funds to be spend on American military industries. Israel’s preference for spending some of the funds internally had been a major sticking point in the deal.
THE Income-Tax Department conducted search operations in two major pharmaceutical companies and a bakery chain. The pharma majors are Cipla Read more
INCOME-TAX authorities today raided the premises of Great Eastern Shipping Company, Ipca Laboratories and RNA Builders. Altogether, 40 premises have Read more
LONDON: A Non-Resident Indian plastic surgeon, who falsely claimed that his sister and uncle were killed in the September 11 Read more
NEW DELHI: San Francisco-based Farallon Capital Management, L.L.C. has invested Rs 88 crore for 33.3% stake in Indiabulls Credit Services Read more
