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Israel Grants Intel $3.2 Billion for New $25 Billion Chip Plant, the Largest Ever Company Investment in Jewish State

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. Photo: REUTERS/Dado Ruvic

The Israeli government has agreed to give the American chipmaker Intel Corp a $3.2 billion grant to help build a new $25 billion plant in southern Israel, which will be the largest investment ever by a company in the Jewish state, both sides announced on Tuesday.

Intel said in a statement that the expansion to its existing 26-mile-long chip plant in Kiryat Gat, south of Tel Aviv, is an “important part of Intel’s efforts to foster a more resilient global supply chain, alongside the company’s ongoing and planned manufacturing investments in Europe and the United States.” Construction on the new $25 billion chip plant has already started, and it is expected to open in 2028 and operate through 2035, according to Reuters.

“Support from the Israel government will … ensure that Israel remains a global center of semiconductor technology and talent,” Intel Vice President Daniel Benatar said.

“The timing, which comes as the world is highly competing for chip investments, is a significant vote of confidence in Israel’s economy,” Israel’s Finance Ministry said in a statement.

Referencing the ongoing conflict between Israel and the Hamas terror group, Israeli Finance Minister Bezalel Smotrich added that the investment, “at a time when Israel wages war against utter wickedness, a war in which good must defeat evil, is an investment in the right and righteous values that spell progress for humanity.”

Intel began its operations in Israel in 1974 in Haifa, which became the chipmaker’s first development center outside the United States, according to the company’s website. In 1981, Intel’s first factory outside the US was established in Jerusalem. The company currently employs 11,700 people in Israel and is the largest private employer in the Israeli hi-tech sector. It has three development centers in Israel — located in Haifa, Petah Tikva, and Jerusalem — as well as its manufacturing facility in Kiryat Gat. The Centrino chip, which enables the use of WiFi, and its Core processors were developed in Israel.

Intel’s CEO Patrick Gelsinger recently appeared on the FOX Business show The Claman Countdown and discussed how the ongoing Israel-Hamas war has affected Intel operations in Israel. He said about 17 percent of Intel employees in Israel are on reserve duty in the Israel Defense Forces and “several” employees have been killed in the war.

“The Israeli people are the most resilient people on earth,” he added. “They have not missed a single wafer commitment or product commitment despite the conflict. That’s why we believe so deeply in them … this is a resilient people. We will support them. We pray for peace to come quickly to the region and a more permanent solution. But we are deeply committed to our operations there.”

The post Israel Grants Intel $3.2 Billion for New $25 Billion Chip Plant, the Largest Ever Company Investment in Jewish State first appeared on Algemeiner.com.

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UN Security Council Meets on Iran as Russia, China Push for a Ceasefire

Members of the Security Council cast a vote during a United Nations Security Council meeting on the 3rd anniversary of Russia’s invasion of Ukraine at UN headquarters in New York, US, Feb. 24, 2025. Photo: REUTERS/David Dee Delgado

The U.N. Security Council met on Sunday to discuss US strikes on Iran’s nuclear sites as Russia, China and Pakistan proposed the 15-member body adopt a resolution calling for an immediate and unconditional ceasefire in the Middle East.

It was not immediately clear when it could be put to a vote. The three countries circulated the draft text, said diplomats, and asked members to share their comments by Monday evening. A resolution needs at least nine votes in favor and no vetoes by the United States, France, Britain, Russia or China to pass.

The US is likely to oppose the draft resolution, seen by Reuters, which also condemns attacks on Iran’s nuclear sites and facilities. The text does not name the United States or Israel.

“The bombing of Iranian nuclear facilities by the United States marks a perilous turn in a region that is already reeling,” U.N. Secretary-General Antonio Guterres told the Security Council on Sunday. “We now risk descending into a rathole of retaliation after retaliation.”

“We must act – immediately and decisively – to halt the fighting and return to serious, sustained negotiations on the Iran nuclear program,” Guterres said.

The world awaited Iran’s response on Sunday after President Donald Trump said the US had “obliterated” Tehran’s key nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution.

U.N. nuclear watchdog chief Rafael Grossi told the Security Council that while craters were visible at Iran’s enrichment site buried into a mountain at Fordow, “no one – including the IAEA – is in a position to assess the underground damage.”

Grossi said entrances to tunnels used for the storage of enriched material appear to have been hit at Iran’s sprawling Isfahan nuclear complex, while the fuel enrichment plant at Natanz has been struck again.

“Iran has informed the IAEA there has been no increase in off-site radiation levels at all three sites,” said Grossi, who heads the International Atomic Energy Agency.

Iran requested the U.N. Security Council meeting, calling on the 15-member body “to address this blatant and unlawful act of aggression, to condemn it in the strongest possible terms.”

Israel‘s U.N. Ambassador Danny Danon said in a statement on Sunday that the U.S. and Israel “do not deserve any condemnation, but rather an expression of appreciation and gratitude for making the world a safer place.”

Danon told reporters before the council meeting that it was still early when it came to assessing the impact of the U.S. strikes. When asked if Israel was pursuing regime change in Iran, Danon said: “That’s for the Iranian people to decide, not for us.”

The post UN Security Council Meets on Iran as Russia, China Push for a Ceasefire first appeared on Algemeiner.com.

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Israel Rejects Critical EU Report Ahead of Ministers’ Meeting

FILE PHOTO: Smoke rises from Gaza after an explosion, as seen from the Israeli side of the border, June 11, 2025. Photo: REUTERS/Amir Cohen/File Photo

Israel has rejected a European Union report saying it may be breaching human rights obligations in Gaza and the West Bank as a “moral and methodological failure,” according to a document seen by Reuters on Sunday.

The note, sent to EU officials ahead of a foreign ministers’ meeting on Monday, said the report by the bloc’s diplomatic service failed to consider Israel’s challenges and was based on inaccurate information.

“The Foreign Ministry of the State of Israel rejects the document … and finds it to be a complete moral and methodological failure,” the note said, adding that it should be dismissed entirely.

The post Israel Rejects Critical EU Report Ahead of Ministers’ Meeting first appeared on Algemeiner.com.

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Pope Leo Urges International Diplomacy to Prevent ‘Irreparable Abyss’

FILE PHOTO: Pope Leo XIV holds a Jubilee audience on the occasion of the Jubilee of Sport, at St. Peter’s Basilica, at the Vatican June 14, 2025. Photo: REUTERS/Yara Nardi/File Photo

Pope Leo on Sunday said the international community must strive to avoid war that risks opening an “irreparable abyss,” and that diplomacy should take the place of conflict.

US forces struck Iran’s three main nuclear sites overnight, joining an Israeli assault in a major new escalation of conflict in the Middle East as Tehran vowed to defend itself.

“Every member of the international community has a moral responsibility: to stop the tragedy of war before it becomes an irreparable abyss,” Pope Leo said during his weekly prayer with pilgrims.

“No armed victory can compensate for the pain of mothers, the fear of children, the stolen future. Let diplomacy silence the weapons, let nations chart their future with peace efforts, not with violence and bloody conflicts,” he added.

“In this dramatic scenario, which includes Israel and Palestine, the daily suffering of the population, especially in Gaza and other territories, risks being forgotten, where the need for adequate humanitarian support is becoming increasingly urgent,” Pope Leo said.

The post Pope Leo Urges International Diplomacy to Prevent ‘Irreparable Abyss’ first appeared on Algemeiner.com.

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