Israel Signs $34 Million Deal to Extend Range of F-35 Fighters

Israel’s Defence Ministry has signed a $34 million contract with defence firm Elbit’s subsidiary Cyclone to increase the range of its F-35 fighters. The agreement was announced on Thursday as Israeli air strikes continued across southern Lebanon. The National News Agency reported strikes in the towns of Seddiqine, Tuffahta, Kafra, Majdal Selem and Souaneh that caused several injuries.

About 30 minutes before those reports, the Israeli military said it had begun a new wave of air strikes targeting Hezbollah sites. Separately, Israel’s military stated that a drone fired by Hezbollah landed near the border with Lebanon, wounding several civilians who were evacuated and hospitalised.

Hezbollah has continued launching rockets into northern Israel and said it struck an Israeli tank in the south.

Israeli officials are scheduled to begin in Washington later Thursday as an existing ceasefire arrangement nears its expiration. The discussions aim to extend the truce. Hezbollah is not participating in the talks and has described direct discussions between Lebanon and Israel as capitulation.

The group has called instead for a full ceasefire, Israeli withdrawal, the return of displaced residents and the start of reconstruction. The Lebanese government is proceeding with the talks, stating that some of those issues can be addressed within the parameters of the negotiations.

Reporting from Beirut, Rory Challands noted that the talks are viewed as controversial in Lebanon.

Palestinian President Mahmoud Abbas’s party faces internal divisions and public frustration over the lack of progress in the Israeli-Palestinian peace process. Jibril Rajoub, the current secretary-general, said the conference comes as the Palestinian national movement confronts some of the most serious challenges in its struggle.

He expressed hope that the meeting would help keep the establishment of a Palestinian state and the role of the Palestine Liberation Organization as the sole legitimate representative on the international agenda. Fatah has historically been the main component of the PLO, which includes most Palestinian factions except Hamas and Islamic Jihad.

Iran’s Foreign Minister Araghchi stated that the Strait of Hormuz remains open to commercial vessels that cooperate with Iranian authorities. Iranian officials are implementing a new mechanism under what they call the Persian Gulf Strait Authority. Vessels must submit cargo details, ownership information, destination, route plans and timing in advance and receive approval for a transit permit.

Ships from countries considered hostile to Iran, as well as U.S. or Israeli warships, will not be permitted to pass. The White House said that Presidents Trump and Xi, meeting in Beijing during Trump’s three-day state visit to China, agreed on the need for the Strait of Hormuz to reopen for the free flow of energy.

The statement added that Xi expressed opposition to the militarization of the strait, any effort to charge a toll, and interest in purchasing more American oil to reduce China’s dependence on the waterway. Both leaders agreed that Iran can never have a nuclear weapon.

Turkiye’s central bank raised its end-2026 inflation target to 24 percent from 16 percent, citing the inflationary effects of the US-Israel war on Iran. Governor Fatih Karahan said the bank also increased its end-2027 target to 15 percent from 9 percent while setting the end-2028 target at 9 percent.

He identified the duration of regional tensions and pressures on energy supply as a critical risk factor. Monthly inflation in Turkiye reached 4.18 percent in April and the annual rate stood at 32.37 percent. The surge in energy prices has affected import-heavy economies in the region.