Adani Group playing key role in India's defence tech
Built in Bengaluru under the 'Make in India' initiative, the SkyStriker drones deliver precision strikes with up to two-hour loitering capability. This marks a leap forward in India's self-reliance in advanced defence technology.
"The mission's success boosted Elbit's stock, reflecting global confidence in the Indo-Israeli venture. Adani's role underscores its growing influence in strategic sectors and reaffirms India's path to becoming a defence manufacturing hub," the company said.
Adani Defence and Aerospace Chief Ashish Rajvanshi said: "With deep pride and gratitude, we salute our Armed Forces for 'Operation Sindoor'. Your courage inspires a united nation.
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Time of India
30 minutes ago
- Time of India
Turkish firm Celebi withdraws plea in Bombay HC against revocation of airport security clearance
Mumbai: The subsidiary of Turkiye-based airport ground handling services major Celebi on Thursday withdrew its plea in Bombay high court against revocation of its security clearance by the Bureau of Civil Aviation Security (BCAS) in the aftermath of Operation Sindoor . A bench of Justices B P Colabawalla and Firdosh Pooniwalla allowed the same and disposed of the plea. Bombay HC had been deferring hearing of the plea awaiting a verdict on an identical plea before Delhi high court, which was dismissed last month. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai | Gold Rates Today in Mumbai | Silver Rates Today in Mumbai On July 7, Delhi HC dismissed a writ petition by another Celebi subsidiary seeking suspension and annulment of the security clearance cancellation. Celebi's counsel Chetan Kapadia on Thursday told Bombay HC bench that the firm seeks to withdraw its plea, which the court accepted. The petition had sought suspension and annulment of the administrative decision of security clearance cancellation granted by BCAS under the Ministry of Civil Aviation of India. The HC had last month also vacated its earlier interim order restraining Mumbai International Airport Limited (MIAL) from finalising tenders for ground and bridge handling services post termination of Celebi's contract. A single bench had then said the interim protection granted in May cannot be continued in view of the judgment passed by Delhi HC in July dismissing the petition filed by Celebi against similar contract termination of the Delhi airport and revocation of security clearance. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Amid the backlash in India over Turkiye's support to Pakistan during Operation Sindoor, India's aviation security regulator BCAS revoked the security clearance of Celebi Airport Services India on grounds related to national security with immediate effect. The company had moved HC against revocation of its security clearance and subsequent termination of its contract with MIAL. Celebi holds 59% capital of Celebi Nas Airport Services India Pvt Ltd. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Economic Times
4 hours ago
- Economic Times
Pakistan-based JeM launches Rs 3.91 billion fundraising drive after losses during Operation Sindoor
ANI Terrorist infrastructure was targeted during Operation Sindoor After suffering severe setbacks during Operation Sindoor, Pakistan-based Jaish-e-Mohammad (JeM) terror outfit has launched a massive fundraising drive in that country under the garb of building over 300 mosques to replicate Lashkar-e-Taiba's decentralization policy, security officials said. The JeM has come out with a new mechanism with the support of Pakistan's Inter-Services Intelligence (ISI) to collect funds. It is using digital wallets like 'EasyPaisa' and 'Sadapay' controlled by its founder and most wanted terrorist Masood Azhar's family members to bypass scrutiny by global agencies like the Financial Action Task Force (FATF), the officials said citing inputs from across the border. The Rs 3.91 billion fundraising drive would secure JeM's operational and weapons financing for at least a decade, they armed forces carried out missile strikes on terror infrastructure in Pakistan and Pakistan-occupied Kashmir in the early hours of May 7 in retaliation to the Pahalgam terror attack. Pakistan retaliated and the intense border skirmishes continued till May 10 before the two countries reached an understanding to end the officials said the JeM's headquarters 'Markaz Subhanallah', along with four other training camps -- Markaz Bilal, Markaz Abbas, Mahmona Joya, and the Sargal training camp - were destroyed during the Operation Sindoor. While Pakistan's government has announced funding to rebuild these destroyed facilities, the JeM has launched an online fundraising campaign through digital wallets to collect Rs 3.91 billion for constructing 313 new markaz buildings under the garb of constructing mosques across Pakistan, the officials said. On social media platforms like Facebook and WhatsApp, JeM-linked proxy accounts and those used by JeM commanders have posted posters, videos, and a letter from Masood Azhar, urging supporters to donate wholeheartedly as each mosque requires Rs 12.5 million (Rs 1.25 crore) for construction and smooth running, they said. According to the officials, several of the digital wallet accounts were found linked to the mobile number of Azhar's brother Talha Al Saif (Talha Gulzar) and JeM Haripur district commander Aftab Ahmad based in Khala Batt Township. They said another fundraising channel was linked to a mobile number run by Azhar's son Abdullah Azhar (Abdullah Khan) while in Khyber Pakhtunkhwa, JeM commander Syed Safdar Shah is collecting donations for the organization's markaz via a number registered near Melwarah post office, Oghi, Mansehra district. In addition to these three accounts, over 250 EasyPaisa wallets are reportedly being used to raise funds for the JeM's fundraising campaign. Alongside social media appeals, the terror outfit circulated an audio recording of Azhar's brother, Al Saif, via its official propaganda channel, MSTD Official, urging supporters to contribute Rs 21,000 per person, the officials said. The speech was delivered at a gathering at Markaz Usman-o-Ali during a Friday congregation on August 15. In the audio clip, Al Saif also instructed the establishment of 20 new markaz this year, as part of JeM's overall target of 313 centres, the officials said citing JeM's organizational posters and videos. To build these mosques, the officials said the JeM may have two key motives -- first, to replicate LeT's vast markaz network, decentralising its training camps so that future Indian strikes would have minimal impact on its terror infrastructure in Pakistan. Second, to establish secure, lavish safe houses for Azhar and his family to allow Pakistan to maintain plausible deniability about their whereabouts, the officials said. Under this plan, three-four large markaz centres would function as safe houses, medium-sized facilities would serve as training camps, and the remainder would handle logistics, allowing JeM to operate nationwide while Pakistan's government continues to deny Azhar's presence, they said. While JeM claims each markaz will cost Rs 12.5 million, estimates suggest a Markaz Bilal-sized facility costs only Rs 4-5 million. Larger markaz like Subhanallah or Usman-o-Ali may cost around Rs 100 million, but it is unlikely all 313 will be this large. If built, with three large markaz and 310 smaller ones, the total construction cost would be about Rs 1.23 billion (Rs 123 crore) leaving a large surplus for weapons purchases, the officials said. Given JeM-Hamas-TTP (Tehreek-e-Taliban) connections and leadership meetings, the officials said the surplus could be used to acquire advanced weaponry and maybe attack drones or quadcopters used by TTP. It is widely known that Pakistan's intelligence agency ISI helps JeM procure arms cheaply from the black market, the officials said. "Today, JeM's arsenal already includes machine guns, rocket launchers, and mortars. Thus this Rs 3.91 billion campaign could heavily bolster its arms stockpile," an official said. In 2019, Pakistan was placed in grey list by the international watchdog working on blocking terror financing and accordingly, the Pakistani Government implemented the National Action Plan and presented to FATF that it had curbed JeM by taking its markaz under government control and placing JeM chief and his brother's bank accounts under official watch, the officials said. It also banned cash transactions, animal hide donations, and other forms of fundraising which resulted in Pakistan getting formally removed from FATF's grey list in 2022. Now, instead of donations going into bank accounts, the money is being transferred to the digital wallets used by Azhar's family members and this way, Pakistan could falsely claim to FATF by showing only bank account details that JeM's funding had been cut off, the officials said.
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First Post
4 hours ago
- First Post
Israel raises 2025 budget by $9 billion. Just how much is it spending on Gaza?
The Israeli government has approved increasing its 2025 budget by $9 billion. The development comes just months after it approved the previous budget of $205 billion. This rise is equivalent to around 1.67 per cent of Israel's GDP, which currently stands at $540 billion. So how much is the war costing the nation? Most of the new money, around $8.5 billion, will go towards defence. Defence, at 41.5 billion, now comprises a fifth of Israel's entire spending. Israeli Prime Minister Benjamin Netanyahu. Reuters Israel is spending billions on its war in Gaza. The government of Prime Minister Benjamin Netanyahu earlier this week agreed to add billions to the 2025 budget. However not everyone is happy with the development including some members of Netanyahu's Cabinet and the Opposition. The additional funds will also need to be approved by Israel's parliament, which is known as the Knesset. The development comes in the backdrop of the Israeli government passing an austerity budget in the backdrop of its Gaza war. STORY CONTINUES BELOW THIS AD But what do we know? How much is Israel spending every day on the Gaza war? Let's take a closer look: What do we know? The Israeli government has approved increasing the 2025 budget by $9 billion. The development comes just months after Israel's government approved the previous budget of $205 billion. This rise is equivalent to around 1.67 per cent of Israel's GDP, which currently stands at $540 billion. Most of the new money, around $8.5 billion, will go towards defence. Defence, at 41.5 billion, now comprises a fifth of Israel's entire spending. That's roughly twice the amount Israel was envisaging spending before the war broke out. Of the new funds, $473 million is set to go towards humanitarian aid for Gaza. Members of Hamas' armed wing hold a Palestinian flag atop an Israeli tank in the southern Gaza Strip on October 7, has increased its defence spending in recent years particularly since the war began after the October 7 2023 attacks by Hamas. AP Israel has increased its defence spending in recent years particularly since the war began after the October 7 2023 attacks by Hamas. The defence budget, which was at $16 billion in 2023, escalated to $26.73 billion in 2024. The defence budget for 2025 was pegged at $31 billion. Israel's defence spending is now nearly 7.7 per cent of its GDP. In 2022, that number was at 3.8 per cent and in 2023 that number was at 5.7 per cent. Government debt, which was at $281 billion at the end of 2022, touched $338 billion in the second half of 2024. Israel's budget deficit has also been similarly increasing. The budget deficit in 2024 reached 6.9 per cent of GDP although it has since eased to 5.1 per cent in April. The debt-to-GDP ratio rose 7.7 points last year to 69 per cent. Israel's finance ministry in June had already lowered its GDP growth forecast for 2025 from 4.3 per cent to 3.6 per cent. The ministry blamed the extended reserve duty and decreased civilian productivity. How much is Israel spending on the Gaza war? Israel had called up around 300,000 reservists in the early days of the war. The Finance Ministry says 300,000 reservists cost the government around $60 million every single day in salaries. However this does not include feeding and sheltering the soldiers. With that it rises to around $81 million per day. However, all this does not take account the drain on the economy – which the finance ministry estimates at another $90 million per day for the 300,000 reservists. Israel is also spending money on arms, ammunition and equipment – which in all comes to around $292 million. STORY CONTINUES BELOW THIS AD A Palestinian boy carries a stroller at the site of a morning Israeli strike on a house, in Gaza City, August 8, 2025. Reuters Till 2024, Israel had spent around $67 billion on its war in Gaza. A piece also estimated around $1.62 billion worth of damage to its southern towns. Meanwhile, the Israeli Tax Authority's Compensation Fund has paid out approximately $640 million to cover civilian property damage between January and May 2025 alone. Total fund withdrawals reaching around $800 million. Israel is increasing its defence spending even as it cuts down in other areas. For example, the earlier 2025 budget approved tax hikes and cuts in non-defence spending. Israel has mandated a 3.35 per cent cut for all ministerial budgets starting at the beginning of 2026 with the National Security Ministry most likely to be affected. Israel has proposed cutting higher education by $108 million, the transportation budget by $189 million and the Ministry of Economy budget by $73 million. The previous budget had imposed austerity with the aim of bringing the budget deficit down to four per cent of GDP. STORY CONTINUES BELOW THIS AD Yali Rothenberg, Israel's Accountant General in May warned that defence spending was too high and risks hurting reduction in civilian expenses. 'We need to reduce the debt-to-GDP ratio,' Rothenberg said. 'The year 2026 will be very important - a test year - we need to restore fiscal space and we need a budget for 2026, because a budget creates certainty and we need certainty for all government ministries.' He noted that in cutting the deficit next year to 3-4 per per cent of GDP, it 'will require difficult decisions; but this is the core of fiscal governance - not just numbers but choosing priorities.' Smotrich in October 2024 had warned that the military would not have an unlimited budget in 2025. 'It is important that we transmit stability and control and a hand on the wheel of the economy so that all our partners in the economy … will move the economy forward,' Smotrich said. 'Now, the economy serves security. We will end the war with victory and bring security and with it also a good economy.' STORY CONTINUES BELOW THIS AD 'We are in the longest and most expensive war in Israel's history,' Smotrich said. 'In the last year we have demonstrated an amazing ability to withstand all the efforts of the war and its costs. There is great resilience in the economy.' Smotrich after the budget passed had claimed it was 'everything we need to win on the front and the home front'. Bibi Cabinet divided, Oppn attacks The Israeli Cabinet is not happy with the revised budget. National Security Minister Itamar Ben Gvir and Education Minister Yoav Kisch On Tuesday Saddam a joint statement that they would oppose this budget unless it was amended to include funding for educational institutions. Kisch warned that failing to do so could result in the school year being delayed. Kisch during the meeting had about aid to Gaza being increased, while his demand for money for mental health assistance for students was ignored. 'You prefer the children of Gaza over the children of Israel', Kisch told Finance Minister Bezalel Smotrich He further accused Smotrich of being a 'small man with a big ego'. STORY CONTINUES BELOW THIS AD Israel's National Security Minister Itamar Ben Gvir Ben Gvir also slammed Benjamin Netanyahu during the meeting, calling him 'the one responsible' for this 'disgrace'. AFP Ben Gvir also slammed Netanyahu during the meeting, calling him 'the one responsible' for this 'disgrace'. Netanyahu responded that 'the money does not go to Hamas, but to the aid centers, to the residents of Gaza'. To which Ben Gvir wondered 'why prioritise the children of Gaza?' Smotrich responded by slamming 'populist ministers' who were more interested in 'hurling personal insults and creating headlines'. Meanwhile, Opposition figure and Yisrael Beytenu chairman Avigdor Liberman claimed the government was 'paying taxes to Hamas'. Opposition leader Yair Lapid also derided the move. 'The government's decision to cut the health basket means both shame is dead, and sick people will die as well. Funding could come from closing 15 superfluous ministries and canceling coalition funds for corruption and draft dodgers,' Lapid wrote on X. 'Instead, the worst government in Israel's history is cutting healthcare, education, and welfare. Disgraceful.' With inputs from agencies
