Search Site

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

US approves $1bn for Iron Dome defense system

The US has approved $1 billion in funding to resupply Israel's Iron Dome missile system.
  • The money had originally been included in legislation addressing a looming government shutdown and a potential October debt crisis
  • But progressives in the House of Representatives said they would tank that unless the funding was removed from it

US lawmakers on Thursday, September 23, greenlit $1 billion to resupply Israel’s Iron Dome missile defense system.

This came after the funding was controversially stripped from a separate bill following a revolt from the left flank of the Democrats.

The money had originally been included in legislation addressing a looming government shutdown and a potential October debt crisis.

But a group of progressives in the Democrat-controlled House of Representatives said they would tank that unless the Iron Dome funding was yanked from the wording.

The cash transfer ultimately advanced from the House on a comfortable 420-9 vote.

“Passage of this bill reflects the great unity in Congress… for Israel’s security,” Nancy Pelosi, the leader of the House Democrats, said in a speech on the chamber floor.

“Assistance to Israel is vital, because Israel’s security is an imperative for America’s security.”

Iron Dome has destroyed thousands of short-range rockets and shells launched by Hamas militants from Gaza before they were able to hit populated areas, Israeli officials have said.

It has been backed by the United States since it was launched a decade ago to the tune of $1.6 billion, according to the Congressional Research Service.

The progressive group’s move had angered members of both parties, with House Republican leader Kevin McCarthy denouncing what he called a Democratic capitulation to “the anti-Semitic influence of their radical members.”

Dean Phillips, a Democratic congressman from Minnesota, tweeted he was “incredulous” that his colleagues would object to defending “one of our most important allies and only Jewish nation in the world” from Hamas rockets.

Israel’s Prime Minister Naftali Bennett thanked both parties for their commitment to the country’s security and the American people for their “steadfast friendship.”

The objections to the funding underlined, however, that progressives are becoming increasingly skeptical of no-strings-attached aid to Israel, three months after Naftali ousted hardline right-wing premier Benjamin Netanyahu.

Rashida Tlaib and Ilhan Omar, the first Muslim US congresswomen, have both tweeted their disapproval of the funding, citing allegations of human rights violations against Palestinians and illegal settlement expansion.