INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

US gears up to sell 18 military choppers to Israel for $3.4 billion

    • The deal would mean the choppers would be fitted with 60 T408-GE-400 Engines

    • They would also have a mix of communications equipment, GAU-21 .50-caliber machine guns, and mission systems

    The US State Department has given its nod to the sale of 18 military helicopters to Israel, in a deal that is potentially valued at $3.4 billion.

    All 18 choppers are Sikorsky CH-53K King Stallion heavy-lift helicopters, said the reports.

    This apparently comes amid heightened demands from Tel Aviv for more American weaponry.

    The deal would mean the choppers would be fitted with 60 T408-GE-400 Engines and a mix of communications equipment, GAU-21 .50-caliber machine guns, and mission systems, said the local reports.

    US firm Lockheed Martin is said to be the prime supplier of the weaponry for the deal.

    Pentagon’s Defense Security Cooperation Agency notified the US Congress of the helicopter deal on Friday

    It said in the notification statement: “The United States is committed to the security of Israel, and it is vital to US national interests to assist Israel to develop and maintain a strong and ready self-defense capability.”

    Israel’s Military chief Benny Gantz was cited by local media saying about the deal that it was “essential” for the regime’s military forces “to carry out a wide range of operational activities.”

    This comes almost simultaneously with the news that Israel-based Rafael will develop a laser defense system with Lockheed Martin.

    While that system is expected to be built primarily for Israel, their contract contains language that experts say could enable them to market it in the US as well.