Israel's Defence Ministry said on Tuesday it had signed deals worth around $275 million with the country's largest domestic private arms maker Elbit to make heavy bombs and raw materials needed for defence,

Israel's Defense Ministry has signed two major agreements with Elbit Systems (NASDAQ:ESLT) to supply the Israeli Air Force with thousands of heavy air munitions. The deals, which are estimated to be worth NIS 1B ($276M),

Israel and Hamas are once again struggling to reach a ceasefire that could wind down the 15-month war in Gaza and bring home dozens of Israelis held hostage.

Hamas has named 34 hostages, some of them believed to have died in captivity, who it says it would return to Israel in the first phase of an evolving if still elusive ceasefire in Gaza.

Israel has warned on Sunday that its ceasefire agreement with Hezbollah could collapse if the Iran-backed group does not withdraw beyond the Litani River, one of the key stipulations of the truce.

With the deadline looming for the terms of a fragile cease-fire between Israel and Hezbollah to be met, an American diplomat on Monday said “much progress” had been made recently.

A senior Israeli leader has warned that the country’s ceasefire with Hezbollah could collapse if the U.S.-designated terrorist group does not abide by the conditions of the deal. Defense Minister Israel Katz said that Israel is “interested” in the complete implementation of the deal,