Israel Sets 2026 Defense Budget at $34 Billion Despite Ceasefire in Gaza

FILED - 25 June 2024, Israel, Jerusalem: Israeli Defense Minister Israel Katz is pictured during an event in Jerusalem. Photo: Hannes P Albert/dpa
FILED - 25 June 2024, Israel, Jerusalem: Israeli Defense Minister Israel Katz is pictured during an event in Jerusalem. Photo: Hannes P Albert/dpa
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Israel Sets 2026 Defense Budget at $34 Billion Despite Ceasefire in Gaza

FILED - 25 June 2024, Israel, Jerusalem: Israeli Defense Minister Israel Katz is pictured during an event in Jerusalem. Photo: Hannes P Albert/dpa
FILED - 25 June 2024, Israel, Jerusalem: Israeli Defense Minister Israel Katz is pictured during an event in Jerusalem. Photo: Hannes P Albert/dpa

Israel's defense budget for 2026 has been set at 112 billion shekels ($34.63 billion), the defense minister's office said on Friday, up from 90 billion shekels budgeted in an earlier draft.

Defense Minister Israel Katz and Finance Minister Bezalel Smotrich agreed on the defense spending framework as the cabinet has begun debating next year's budget, which needs to be approved by March or could lead to new elections.

Ministers began what is usually a marathon session on Thursday ahead of a vote that could come early on Friday. If it passes, it heads to parliament for its initial vote.

Katz said the military will continue its to address the needs of its fighters and reduce the burden on reservists.

"We will continue to act decisively to reinforce the IDF and to fully address the needs of the fighters and to reduce the burden on reservists - in order to ensure the security of the State of Israel on every front," his office quoted him as saying.

The Gaza war has been costly for Israel, which spent $31 billion in 2024 on its military conflicts with Hamas and with Hezbollah in Lebanon.

Israel has since entered ceasefire deals with both militant groups.

Smotrich's office said that the 2026 defense budget has seen an increase of 47 billion shekels compared to 2023 on the eve of the war.

"We are allocating a huge budget to strengthen the army this year, but also one that allows us to return the State of Israel to a path of growth and relief for citizens,"
Smotrich said, according to his office.



Trump Says Working Well with Venezuela’s New Leaders, Open to Meeting

A motorcyclist rides past graffiti depicting former Venezuelan President Nicolas Maduro, who is facing trial in the United States after US forces captured him, in Caracas, Venezuela, Sunday, Jan. 11, 2026. (AP)
A motorcyclist rides past graffiti depicting former Venezuelan President Nicolas Maduro, who is facing trial in the United States after US forces captured him, in Caracas, Venezuela, Sunday, Jan. 11, 2026. (AP)
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Trump Says Working Well with Venezuela’s New Leaders, Open to Meeting

A motorcyclist rides past graffiti depicting former Venezuelan President Nicolas Maduro, who is facing trial in the United States after US forces captured him, in Caracas, Venezuela, Sunday, Jan. 11, 2026. (AP)
A motorcyclist rides past graffiti depicting former Venezuelan President Nicolas Maduro, who is facing trial in the United States after US forces captured him, in Caracas, Venezuela, Sunday, Jan. 11, 2026. (AP)

US President Donald Trump said Sunday his administration was working well with Venezuela's interim leader Delcy Rodriguez -- and that he would be open to meeting with her.

Trump's upbeat remarks came just over a week after Venezuelan leader Nicolas Maduro was seized in a US special forces raid and brought to New York to face drug trafficking charges.

Trump has said that the United States now has de facto control of Venezuela, as it enforces a naval blockade of the South American nation's vital oil exports.

Rodriguez, despite being a close Maduro ally, has indicated a willingness to work with the United States, saying she is open to cooperate on Trump's demands for access to Venezuelan oil.

Her government has also vowed to release political prisoners and begin talks on reestablishing diplomatic ties with Washington.

US envoys visited Caracas on Friday to discuss reopening Washington's embassy there.

"Venezuela is really working out well. We're working along really well with the leadership," Trump told reporters Sunday aboard Air Force One.

Asked if he planned to meet with Rodriguez, Trump said: "At some point I'll be."

He also said he expected to meet with Venezuelan opposition leader Maria Corina Machado on Tuesday or Wednesday.

Many were stunned when Trump dismissed the possibility of Machado serving as Venezuela's interim leader following the toppling of Maduro, and instead accepted Rodriguez's ascent.

Machado was given the Nobel Peace Prize last year and dedicated it to Trump, though he has made no secret of his frustration at being passed over for the award.

- Political prisoners -

The Venezuelan government began to release prisoners jailed under Maduro on Thursday, saying a "large" number would be released -- but rights groups and the opposition say only about 20 have walked free so far, including several prominent opposition figures.

Relatives have gathered outside prisons believed to be holding political detainees, to await their loved ones' release, sometimes even camping outside.

Rights groups estimate there are 800 to 1,200 political prisoners currently being held in Venezuela.

"Venezuela has started the process, in a BIG WAY, of releasing their political prisoners. Thank you!" Trump said in a post late Saturday on his Truth Social platform.

"I hope those prisoners will remember how lucky they got that the USA came along and did what had to be done."

Meanwhile, a detained police officer accused of "treason" against Venezuela died in state custody after a stroke and heart attack, the state prosecution service confirmed Sunday.

Opposition groups said the 52-year-old man, Edison Jose Torres Fernandez, had shared messages critical of Maduro's government.

"We directly hold the regime of Delcy Rodriguez responsible for this death," Justice First, part of the Venezuelan opposition alliance, said on X.

Late Saturday, families held candlelight vigils outside El Rodeo prison east of Caracas and El Helicoide, a notorious jail run by the intelligence services, holding signs with the names of their imprisoned relatives.

Prisoners include Freddy Superlano, a close ally of Machado who was jailed after challenging Maduro's widely contested reelection in 2024.

"He is alive -- that was what I was most afraid about," Superlano's wife Aurora Silva told reporters.

"He is standing strong and I am sure he is going to come out soon."

Maduro's supporters rallied in Caracas on Saturday but the demonstrations were far smaller than his camp had mustered in the past, and top figures from his government were notably absent.

- Oil -

Trump pressed top oil executives at a White House meeting on Friday to invest in Venezuela, but was met with a cautious reception.

ExxonMobil's chief executive Darren Woods notably dismissed the country as "uninvestable" without sweeping reforms -- earning a rebuke from Trump.

"I didn't like Exxon's response. You know, we have so many that want it, I'd probably be inclined to keep Exxon out. I didn't like their response. They're playing too cute," Trump said Sunday.

Experts say Venezuela's oil infrastructure is creaky after years of mismanagement and sanctions.


Fed Chair Powell Says Targeted by Federal Probe

US Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the US Federal Reserve in Washington, DC, US, December 10, 2025. (Reuters)
US Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the US Federal Reserve in Washington, DC, US, December 10, 2025. (Reuters)
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Fed Chair Powell Says Targeted by Federal Probe

US Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the US Federal Reserve in Washington, DC, US, December 10, 2025. (Reuters)
US Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the US Federal Reserve in Washington, DC, US, December 10, 2025. (Reuters)

Federal Reserve Chairman Jerome Powell said Sunday that US prosecutors have opened a probe into his comments to lawmakers and threatened an indictment, a move he said is part of President Donald Trump's pressure campaign on monetary policy decisions.

Powell added in a statement that the bank received grand jury subpoenas on Friday, "threatening a criminal indictment" related to his Senate testimony in June, which concerned a major renovation project of Federal Reserve office buildings.

He dismissed the possible threat of indictment over his testimony or the renovation project as "pretexts."

"The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President," Powell said.

He branded the "unprecedented action" part of the "administration's threats and ongoing pressure."

The Fed, which makes independent monetary policy decisions, has a dual mandate to keep prices stable and unemployment low.

Its main tool in doing so is by setting a key interest rate that influences the cost of borrowing across the economy, while its board members typically serve under both Republican and Democratic presidents.

Trump has consistently pressured Powell and the central bank to move faster in lowering interest rates, in a breach of the long-standing independence of the institution.

Trump on Sunday denied any knowledge of the Justice Department's investigation into the Federal Reserve.

"I don't know anything about it, but he's certainly not very good at the Fed, and he's not very good at building buildings," NBC quoted Trump saying.

- 'Corrupt takeover' -

Senators from both sides of the aisle blasted the investigation.

"It is now the independence and credibility of the Department of Justice that are in question," Republican Thom Tillis said.

"I will oppose the confirmation of any nominee for the Fed - including the upcoming Fed Chair vacancy - until this legal matter is fully resolved," he added.

Senate Minority Leader Chuck Schumer, a democrat, called the probe an assault on the Fed's independence.

"Anyone who is independent and doesn't just fall in line behind Trump gets investigated," Schumer said.

Powell's term as chairman of the Federal Reserve ends in May, and Trump told Politico in an interview last month that he would judge Powell's successor on whether they immediately cut rates.

The US president has openly spoken about ousting Powell but stopped short of doing so, and focused instead on cost overruns for renovation of the Fed's Washington headquarters.

In July, the cost of the Fed's facelift of its 88-year-old Washington headquarters and a neighboring building was up by $600 million from an initial $1.9 billion estimate.

That same month, Trump made an unusual visit to the construction site during which the two men, clad in hard hats, bickered over the price tag for the makeover.


China Says Opposes Foreign ‘Interference’ in Iran, Germany Condemns Violence against Protests

Demonstrators and activists rally in support with Iranian people amid anti-government protests raging across Iran, in Paris, France, January 11, 2026. (Reuters)
Demonstrators and activists rally in support with Iranian people amid anti-government protests raging across Iran, in Paris, France, January 11, 2026. (Reuters)
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China Says Opposes Foreign ‘Interference’ in Iran, Germany Condemns Violence against Protests

Demonstrators and activists rally in support with Iranian people amid anti-government protests raging across Iran, in Paris, France, January 11, 2026. (Reuters)
Demonstrators and activists rally in support with Iranian people amid anti-government protests raging across Iran, in Paris, France, January 11, 2026. (Reuters)

China said on Monday it opposes foreign "interference" in other countries after US President Donald Trump threatened to intervene militarily if Tehran killed protesters.

"We always oppose interference in other countries' internal affairs," foreign ministry spokeswoman Mao Ning told a regular news conference when asked about Trump's comments.

"We call on all parties to do more things conducive to peace and stability in the Middle East," she added.

German Chancellor Friedrich Merz said on Monday that Iran's use of "disproportionate and brutal violence" against protesters was "a sign of weakness".

"We condemn this violence in the strongest possible terms," he said during a visit to India.

"This violence is not an expression of strength, but rather a sign of weakness. This violence must end."