INSEAD Day 4 - 728x90

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.

Salik profit slips in H1

The company said traffic recovery supported resilience.

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

US approves $825 mn Stinger missile sale to Morocco

Members of the Moroccan royal armed forces (FAR) take part in the joint US military exercise "African Lion" in the Tan-Tan region in southwestern Morocco on May 31, 2024. AFP
  • The proposed sale will improve Morocco's capability to meet current and future threats, the US Defense Security Cooperation Agency (DSCA) said in a statement
  • This will contribute to the Moroccan Army's goals of updating capability and further enhancing interoperability with the US and other allies, the statement added

Washington, United StatesThe United States on Tuesday announced the approval of an $825 million sale of up to 600 Stinger anti-air missiles and related equipment to Morocco.

“The proposed sale will improve Morocco’s capability to meet current and future threats. Morocco intends to use these defense articles and services to modernize its armed forces and expand its existing army short range air defense options,” the US Defense Security Cooperation Agency (DSCA) said in a statement.

“This will contribute to the Moroccan Army’s goals of updating capability and further enhancing interoperability with the US and other allies,” it said.

The State Department approved the possible sale and the DSCA on Tuesday provided the required notification to the US Congress, which still needs to sign off on the transaction.