US, Israel Conclude Exercise to Seize Warship in Red Sea

A flotilla of Israeli navy ships on August 10, 2021. (AFP/Getty Images)
A flotilla of Israeli navy ships on August 10, 2021. (AFP/Getty Images)
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US, Israel Conclude Exercise to Seize Warship in Red Sea

A flotilla of Israeli navy ships on August 10, 2021. (AFP/Getty Images)
A flotilla of Israeli navy ships on August 10, 2021. (AFP/Getty Images)

The Israeli Army announced on Friday that its commando unit, Shayetet 13, concluded a four-day joint maritime exercise with US naval forces.

The exercise included an operation to seize an enemy warship deep in the Red Sea.

The Israeli Defense Forces (IDF) Spokesperson's Unit said in a statement that the Israeli and US navies concluded the “Noble Rose” joint exercise, which took place in the Red Sea with the participation of Israeli commandos and the US 5th Fleet and a refueling tanker.

The forces simulated various operational scenarios in the Red Sea, including the seizure of a naval vessel and the use of advanced naval equipment.

“We strengthened the scope of our operations and deepened the professional dialogue between our navies,” the spokesperson said.

The exercise is part of a series of drills and international cooperation activities that have been held recently as part of Israel’s annual training plan for 2022.

Summing up the maneuver, Commander of the Israeli Navy Vice Adm. David Saar Salama stressed that maintaining the superiority of the navy in the maritime domain is a direct contribution to Israel’s security.

"During this exercise we managed to deepen our relations with Israel's most important ally - the United States. Together we develop solutions, share knowledge, create a common language and increase our scope of activity. I am certain that the dialogue will continue to increase, and will bring about significant achievements in the future."

He noted that he was confident that Israel will continue to strengthen its dialogue with the US to realize great achievements in the future.



Saudi Minister of Industry Stresses Kingdom’s Commitment to Expanding Partnerships with Russia

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at Monday's event. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at Monday's event. (SPA)
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Saudi Minister of Industry Stresses Kingdom’s Commitment to Expanding Partnerships with Russia

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at Monday's event. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at Monday's event. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef stressed on Monday the Kingdom’s commitment to deepening its industrial and investment partnerships with Russia and leveraging joint opportunities across several priority sectors to achieve the mutual interests of both countries.

He made his remarks during the keynote speech at the International Industrial Exhibition “INNOPROM. Saudi Arabia,” underway in Riyadh and continuing until February 10. The event is witnessing wide participation from leaders in the public and private sectors, as well as major industrial companies from the Kingdom, Russia, and several other countries.

Alkhorayef said that Riyadh’s hosting of INNOPROM reflects the mutual interest between Saudi Arabia and Russia in boosting industrial and investment cooperation, building on historical relations spanning over a century.

This helps in expanding strategic industrial partnerships and stimulating targeted investments between the two countries, the minister added.

Riyadh’s hosting of the exhibition shortly after the Kingdom’s participation as a partner country in its previous edition in Russia underscores both countries’ commitment to deepening bilateral relations and developing cooperation in priority sectors, particularly industry, logistics, and supply chains, he went on to say.

Moreover, the minister underlined the Saudi and Russian governments' commitment to establish a strong cooperative foundation that provides a stable and secure investment environment for long-term investors.

Alkhorayef addressed the mining and minerals sector, noting that the Kingdom views Russia’s advanced experience in this field as a model to benefit from.

Promising opportunities exist in Saudi Arabia for Russian companies specializing in mining and mine services to participate in developing the vital sector, which constitutes the third pillar of the national industry under Saudi Vision 2030, he remarked.

The Kingdom also possesses an integrated system to support industrial projects, including advanced industrial cities, modern infrastructure, industrial financing, and training and qualification programs, alongside policies that support localization and knowledge transfer, all contributing to enabling high-value industrial investments and bolstering their sustainability, he noted.

INNOPROM is one of the leading international industrial exhibitions, organized annually for more than 15 years in Russia, attracting major industrial companies.

The current edition in Riyadh features broad Saudi and Russian participation, along with a business program that includes dialogue sessions and bilateral meetings aimed at building strategic partnerships that support the economic development objectives of both countries.


Israel’s Netanyahu Is Meeting with Trump This Week to Push for a Far Broader Iran Deal

President Donald Trump answers a question from a reporter at the end of a news conference with Israel's Prime Minister Benjamin Netanyahu at Mar-a-Lago, Dec. 29, 2025, in Palm Beach, Fla. (AP)
President Donald Trump answers a question from a reporter at the end of a news conference with Israel's Prime Minister Benjamin Netanyahu at Mar-a-Lago, Dec. 29, 2025, in Palm Beach, Fla. (AP)
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Israel’s Netanyahu Is Meeting with Trump This Week to Push for a Far Broader Iran Deal

President Donald Trump answers a question from a reporter at the end of a news conference with Israel's Prime Minister Benjamin Netanyahu at Mar-a-Lago, Dec. 29, 2025, in Palm Beach, Fla. (AP)
President Donald Trump answers a question from a reporter at the end of a news conference with Israel's Prime Minister Benjamin Netanyahu at Mar-a-Lago, Dec. 29, 2025, in Palm Beach, Fla. (AP)

Prime Minister Benjamin Netanyahu is heading to Washington on Tuesday to encourage President Donald Trump to expand the scope of high-stakes nuclear talks with Iran. The negotiations resumed last week against the backdrop of an American military buildup.

Israel has long called for Iran to cease all uranium enrichment, dial back its ballistic missile program and cut ties to militant groups across the region. Iran has always rejected those demands, saying it would only accept some limits on its nuclear program in return for sanctions relief.

It's unclear if Iran's bloody crackdown on mass protests last month, or the movement of major US military assets to the region, has made Iran’s leaders more open to compromise, or if Trump is interested in broadening the already difficult negotiations.

Netanyahu, who will be in Washington through Wednesday, has spent his decades-long political career pushing for stronger US action toward Iran. Those efforts succeeded last year when the US joined Israel in 12 days of strikes on Iran's military and nuclear sites, and the possibility of additional military action against Iran is likely to come up in this week’s discussions.

Decisions are being made

Netanyahu's visit comes just two weeks after Trump’s special envoy Steve Witkoff and Jared Kushner, Trump’s son-in-law and Middle East adviser, met with the prime minister in Jerusalem. The US envoys held indirect talks in Oman with Iran's foreign minister on Friday.

“The Prime Minister believes that any negotiations must include limiting ballistic missiles and ending support for the Iranian axis,” Netanyahu's office said over the weekend, referring to Iran-backed armed groups like the Palestinian Hamas and Lebanon's Hezbollah.

Years of nuclear talks have made little progress since Trump scrapped a 2015 agreement with Iran, with strong encouragement from Israel. Iran has shown little willingness to address the other issues, even after suffering repeated setbacks. But the meeting with Trump gives Netanyahu an opportunity to shape the process and may also bolster his standing back home.

“Clearly these are the days when decisions are being made, America is expected to complete its force buildup, and it’s trying to exhaust the prospect of negotiations,” said Yohanan Plesner, head of the Israel Democracy Institute, a Jerusalem-based think tank.

“If you want to have influence on the process, only so much can be done via Zoom.”

Israel fears a narrow agreement

rump threatened a military strike against Iran last month over the killing of protesters and concerns of mass executions, moving a number of military assets into the region. Thousands were killed and tens of thousands detained at Iranian authorities crushed the protests over widespread economic distress.

As the protests largely subsided, Trump shifted his focus to Iran's nuclear program, which the US, Israel and others have long suspected is aimed at eventually developing weapons. Iran insists its program is entirely peaceful and says it has the right to enrich uranium for civilian purposes.

Sima Shine, an Iran expert formerly with Israel's Mossad spy agency who is now an analyst at Israel's Institute for National Security Studies, said Israel fears that the US might reach a narrow agreement with Iran in which it would temporarily halt uranium enrichment.

A deal in which Iran halts enrichment for several years would allow Trump to claim victory. But Israel believes any such agreement that does not end Iran's nuclear program and reduce its ballistic missile arsenal will eventually require Israel to launch another wave of strikes, she said.

Iran might be unable to enrich uranium after last year’s strikes, making the idea of a temporary moratorium more appealing.

In November, Iranian Foreign Minister Abbas Araghchi said Iran was no longer enriching uranium due to the damage from last year's war. The US and Israeli airstrikes killed nearly 1,000 people in Iran, while Iranian missile barrages killed almost 40 in Israel.

It's unclear how much damage was done to Iran's nuclear program. Inspectors from the International Atomic Energy Agency have been unable to visit the bombed nuclear sites. Satellite images show activity at two of them.

Netanyahu faces election this year

Netanyahu, who faces elections later this year, has long touted his close ties to world leaders, particularly Trump, who he has praised as the best friend Israel has ever had in the White House. This week's meeting allows Netanyahu to show Israelis he is a player in the Iran talks.

“The issue of relations between Netanyahu and Trump will be the issue of the campaign, and he is saying, ‘Only I can do this, it’s only me,’” Shine said.

Netanyahu is Israel's longest-serving prime minister, having held the office for a total of over 18 years. His government, the most nationalist and religious in Israel's history, is expected to survive until the election in October, or close to it.

Netanyahu was originally scheduled to visit Washington next week for the Feb. 19 launch of Trump's Board of Peace, an initiative that was initially framed as a mechanism for rebuilding Gaza after the Israel-Hamas war but has taken on a larger mandate of resolving global crises.

Netanyahu agreed to join the initiative, but is wary of it because it includes Türkiye and Qatar, countries he does not want to have a presence in postwar Gaza because of their relations with Hamas.

Moving the visit up could provide an “elegant solution” that allows Netanyahu to skip the launch without offending Trump, Plesner said. Netanyahu's office declined to comment.


Kering’s Fourth-Quarter Sales Fall Less Than Expected as Gucci Slide Continues

The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
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Kering’s Fourth-Quarter Sales Fall Less Than Expected as Gucci Slide Continues

The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)

Kering reported on Tuesday a slightly smaller-than-expected drop in fourth-quarter sales, as investors await details of CEO Luca de Meo's plans ​to revive the Gucci owner's flagging fortunes.

Sales reached 3.9 billion euros ($4.64 billion), down 3% from the previous year when adjusted for currency swings. That beat analysts' consensus forecast for a 5% drop, according to Visible Alpha.

The revenue drop was 10% at Italian flagship label Gucci, which accounts for most of Kering's profits, versus analyst expectations of a 12% decline.

It ‌was the brand's ‌10th straight quarter of revenue ‌decline.

Finance ⁠Chief ​Armelle ‌Poulou told journalists Gucci saw some improvement at the end of last year in "almost all regions", helped by newly introduced products and handbag sales.

Grappling with weak sales since the maximalist styles of Gucci's former star designer Alessandro Michele fell out of fashion in 2022, Kering has faced heightened investor scrutiny over its high ⁠debt and declining profitability.

Free cash from operations fell by 35% last year ‌when excluding one-off payments from real estate ‍sales, reaching 2.3 billion euros, Kering ‍said.

"For Kering, it's really about (restoring) the broad desirability globally," said ‍JPMorgan analyst Chiara Battistini.

Facing an uncertain business outlook, the group, which also owns Gucci Balenciaga, Bottega Veneta and Yves Saint Laurent, further reduced its store network by 75 boutiques with further closures planned, Poulou said.

The ​earnings underscored the steep challenges Kering faces to catch up with peers even though its shares have ⁠risen around 50% since de Meo's appointment was announced last June.

"2025 did not reflect Kering's true potential or the strength of our brands, but it enabled us to lay the foundations for our future recovery," said Poulou.

Kering's annual operating income reached 1.63 billion euros, less than a third of its 2022 level. Kering's operating profit margin fell to 11% group-wide and 16% at Gucci, down from 28% and 36% three years earlier.

By contrast, LVMH delivered a 22% margin last year amid ‌a broader luxury slowdown, with its leather and fashion division - home to Louis Vuitton and Dior - hitting 35%.