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Iran making ‘significant developments’ in building its weapon arsenal: Israeli media

Iran has recently made significant advances in the development of its weapon arsenal, including precision-guided rockets and missiles, cruise missiles and drones, Israeli media reported Wednesday.
According to Amos Harel, one of Israel’s leading experts on military and defense issues, Israeli intelligence has observed a rise in Iranian capabilities, which are now being extensively distributed across Iran’s radical axis of proxy forces in the Middle East, including Hezbollah in Lebanon, the Assad regime in Syria, the Shia militias in Iraq, and the Houthi militia in Yemen.
Writing in Israel’s Haaretz newspaper, Harel citied intelligence officials as stating that, for the first time, the Iranian arms industry has become “an industry encompassing the entire radical axis.”
“One unit from the Revolutionary Guards, Unit 340 of the Quds Force, is responsible for the research and development that serves all the terrorist and guerilla organizations operating with Tehran’s patronage and financing,” said Harel. “The knowhow gained by the Iranians is quickly and effectively relayed to their proxies throughout the region.”
Harel explained that Tehran’s aim is to enable these organizations to achieve independent production capability in their respective countries, without being dependent upon Iranian smuggling operations. This will help these proxy forces should Israel successfully strike any part of Iran’s various smuggling channels.
Last week, Iran blamed Israel for a blast on an Iranian cargo ship in the Mediterranean, with an Iranian Foreign Ministry spokesperson noting that Iran would consider “all options” in response, according to reports in local media.

The container ship Shahr e Kord was hit by an explosive object which caused a small fire, but no one on board was hurt.
“Israel is especially concerned by Hezbollah’s acceleration of its “precision project,” in which it plans to do a massive upgrade of its arsenal of rockets and missiles so they can strike within just a few meters of their targets,” Harel said. “In recent years, in the wake of the Israeli strikes on its smuggling operations, Hezbollah has made several attempts to build facilities in Lebanon to manufacture weaponry and convert arms to precision-guided weapons.”
He said, officially, Israel talks about Hezbollah having dozens of precision rockets, but some assessments say that number has surged in the past couple of years and is now reputedly in the hundreds.
“Hezbollah is working on developing several types of improvements for its missiles – greater precision, greater lethal impact and ability to circumvent the active Israeli defense systems,” said Harel. “In his speeches, Hezbollah leader Hassan Nasrallah often talks about the level of precision of his organization’s weaponry and boasts that in the event of a war, Israel will be surprised by Hezbollah’s capabilities.”
He said another nearby arena where similar progress has been made is the Gaza Strip.
“Hamas, with Iranian aid, has significantly boosted its production capacity for rockets and drones and conducts very frequent test firings that are directed westward into the Mediterranean.”
In the last few years, Hamas members have traveled to Iran and elsewhere for training in weapons development, claimed Harel.
He pointed out that in late February, an Israeli naval operation reportedly destroyed Hamas weapons off the Gaza coast.
This, said Harel, turned out to be a Hamas boat.
The Houthi militia in Yemen, which operates in close consultation with the Revolutionary Guards, have also been “dramatically upgraded,” Harel said.
He points that in recent weeks, the Iran-backed Houthis have stepped up their attacks against airfields and oil facilities in Saudi Arabia, firing dozens of drones and missiles at the Kingdom in recent weeks.

“At present, the Houthis are not showing much interest in friction with Israel,” said Harel. “They are too preoccupied with the war on the Saudis. But intelligence officials say that in the future, Iran may try to deploy drones and missiles in Yemen that could reach southern Israel."
source: Jennifer Bell
Levant
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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