The Tawazun Council awarded contracts worth Dh4.5 billion ($1.2 billion) on the first day of the International Defence Exhibition and Conference (Idex), with several deals going to local companies.
The procurement arm of the UAE Armed Forces, which signed 11 contracts, awarded five deals worth Dh2.2 billion to international companies, while domestic companies won six contracts worth Dh2.3 billion, Zayed Al Meraikhi, the council's spokesman, said on Monday.
Among the domestic companies was munitions maker Halcon, which clinched a deal valued at Dh2.14 billion for the Thunder P3 weapons system. Maplin Marine Systems and Services was awarded a Dh78 million deal to provide ships with technical support services.
Other UAE companies that sealed deals included Mohamed Abdulrahman Al Bahar, which signed a Dh45 million contract to provide technical support on tracked vehicles, and Atlas Telecom, to procure SR Hawk and portable radar for Dh26 million.
Among international companies, PT Pal Indonesia won the biggest foreign deal of the day. It received a Dh1.5 billion contract for the procurement of a multi-mission ship.
The UAE Armed Forces signed deals worth Dh20.95 billion during the five-day event in 2021.
This year's Idex involves 65 countries, up 10 per cent from the previous event in 2021, said Saeed Al Mansoori, chief executive of Capital Events, an arm of Abu Dhabi National Exhibitions Company
He said nine countries were attending the defence expo for the first time this year — Uzbekistan, Ireland, Nigeria, Montenegro, Kuwait, Lithuania, Bangladesh, Colombia and Monaco.
Idex, which began in Abu Dhabi on Monday, is the Middle East’s largest defence expo. It has drawn industry leaders eager to display their latest military technology, from drones to armoured vehicles.
Major international companies, such as Boeing, Raytheon Technologies, Lockheed Martin, France’s Thales, the Naval Group and Saudi Arabian Military Industries, are among those participating.
Kalashnikov Concern — the largest Russian manufacturer of small arms, guided artillery shells and high-precision weapons — is displaying its AK-15 rifles among dozens of other products.
Al Yah Satellite Communications, better known as Yahsat, and Sweden's Saad are also taking part.
Defence companies use Idex as a platform to show their wares and all eyes will be on UAE conglomerate Edge, which on Monday unveiled 11 products and systems.
Set up in 2019, Edge specialises in building advanced technology for weapons systems, cyber protection and electronic warfare, with more than 25 companies under its umbrella.
Ahead of Idex, Edge said it acquired a majority stake in Estonia's Milrem Robotics to develop capabilities in robotics and autonomous systems in line with the UAE's expanding manufacturing sector.
Edge's expansion is in line with the UAE's Operation 300bn strategy, which seeks to increase the contribution of the local industrial sector to the country's gross domestic product to Dh300 billion by 2031, from Dh133 billion in 2021.
In June, the UAE's Ministry of industry and Advanced Technology, the Emirates Development Bank (EDB) and Edge Group signed an agreement to boost manufacturing in the defence sector.
Tallinn-based Milrem Robotics — which specialises in the development of intelligent unmanned ground vehicles, robotic warfare, concept of operations and warfare analysis — will become a new entity under Edge's platforms and systems cluster.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Ruwais timeline
1971 Abu Dhabi National Oil Company established
1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants
1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed
1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.
1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex
2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea
2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd
2014 Ruwais 261-outlet shopping mall opens
2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies
2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export
2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.
2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery
2018 NMC Healthcare selected to manage operations of Ruwais Hospital
2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13
Source: The National
At Eternity’s Gate
Director: Julian Schnabel
Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen
Three stars
Stuck in a job without a pay rise? Here's what to do
Chris Greaves, the managing director of Hays Gulf Region, says those without a pay rise for an extended period must start asking questions – both of themselves and their employer.
“First, are they happy with that or do they want more?” he says. “Job-seeking is a time-consuming, frustrating and long-winded affair so are they prepared to put themselves through that rigmarole? Before they consider that, they must ask their employer what is happening.”
Most employees bring up pay rise queries at their annual performance appraisal and find out what the company has in store for them from a career perspective.
Those with no formal appraisal system, Mr Greaves says, should ask HR or their line manager for an assessment.
“You want to find out how they value your contribution and where your job could go,” he says. “You’ve got to be brave enough to ask some questions and if you don’t like the answers then you have to develop a strategy or change jobs if you are prepared to go through the job-seeking process.”
For those that do reach the salary negotiation with their current employer, Mr Greaves says there is no point in asking for less than 5 per cent.
“However, this can only really have any chance of success if you can identify where you add value to the business (preferably you can put a monetary value on it), or you can point to a sustained contribution above the call of duty or to other achievements you think your employer will value.”
MATCH INFO
Uefa Champions League semi-finals, second leg:
Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE
Game is on BeIN Sports
Top financial tips for graduates
Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:
1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.
2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.
3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.
4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
I Care A Lot
Directed by: J Blakeson
Starring: Rosamund Pike, Peter Dinklage
3/5 stars
MATCH INFO
Manchester City 6 Huddersfield Town 1
Man City: Agüero (25', 35', 75'), Jesus (31'), Silva (48'), Kongolo (84' og)
Huddersfield: Stankovic (43')
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
Zayed Sustainability Prize
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