Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, met a number of top military officials while attending the first day of the International Defence Exhibition on Sunday.
Sheikh Mohamed met representatives from the UK, Greece, Russia and Ethiopia, and discussed ways to bolster ties between their countries and increase defence and military co-operation.
They spoke of Idex's importance in building regional and international defence partnerships and showcasing the latest defence technology, systems and services.
"It is a pleasure to announce the start of Idex 2021. Idex is an important defence platform shaping the global defence industry and also helping to forge new partnerships between countries," Sheikh Mohamed said.
Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, and a number of senior UAE officials attended the meetings.
The first day of the five-day exhibition, held at Abu Dhabi National Exhibition Centre, was deemed a success after the UAE Armed Forces awarded Dh5.03 billion ($1.37bn) in contracts.
The majority of the 19 deals signed by the Armed Forces went to local companies – who won contracts worth Dh3.9 billion ($1.06) – while seven contracts worth Dh1.1bn were awarded to international companies, Staff Brig Gen Mohammed Al Hassani, official spokesman for Idex and its sister event the Naval Defence and Maritime Security Exhibition, said.
With about 1,000 companies represented, Idex is the largest defence exhibition in the region and showcases the latest in military hardware.
It is also the first major in-person event to be held in Abu Dhabi since the pandemic broke out.
Rigorous safety measures are in place to prevent the spread of Covid-19.
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Idex 2021: day one in pictures
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Charles Dufour of Cebair, with the Chimera, an anti-drone system. Victor Besa / The National -

Idex 2021, the first major in-person exhibition held in Abu Dhabi since the start of the Covid-19 pandemic, opened its doors on Sunday morning. Victor Besa / The National -

Abdulelah Al Mohaimeed, of Wahaj of Saudi Arabia, shows his company's 50-calibre heavy machine gun, at Idex 2021 in Abu Dhabi. Victor Besa / The National -

Saeed Al Mansoori examines a Glock 9mm pistol at at Idex 2021. The event features up to 1,000 defence companies. Victor Besa / The National -

A model of the NHIndustries NH90 multi-role military helicopter on display at Idex 2021. Victor Besa / The National -

Visitors view a Desert Sting-16 missile, built by UAE defence conglomerate EDGE, at Idex 2021. About 15 per cent of the 1,000 companies represented at event are Emirati. Victor Besa / The National -

Idex 2021 is the first major in-person exhibition in Abu Dhabi since the start of the Covid-19 pandemic. International attendees do not need to quarantine, but must undertake regular PCR tests. Victor Besa / The National -

Strict anti-coronavirus measures are in place at Idex 2021, including reminders for visitors to adhere to social distancing. Victor Besa / The National -

A robot mops the floor as visitors explore the 35,000 square metres of exhibition space at Idex 2021. Victor Besa / The National -

Omar Al Matrooshi and Rashed Al Raess hold 9mm pistols made by Austrian manufacturer Glock. About 800 international companies are attending Idex 2021. Victor Besa / The National -

Omar Al Matrooshi and Rashed Al Raess examine Glock 9mm pistols at Idex 2021. There are 12 exhibition halls at the event. Victor Besa / The National -

Visitors examine sniper rifles made by UAE arms manufacturer Caracal, at Idex 2021. Victor Besa / The National -

A close-up view of a 100-kilogram laser/satellite guided bomb at Idex 2021. Victor Besa / The National -

Organisers expect 70,000 visitors to attend Idex 2021. Victor Besa / The National -

Visitors adhere to strict social distancing at Adex 2021, the first major in-person exhibition in Abu Dhabi since the start of the Covid-19 pandemic. Victor Besa / The National. -

A visitor arrives at Idex 2021. Victor Besa / The National. -

Visitors attending Idex 2021 in Abu Dhabi. The biennial event was first held in 1993. Victor Besa / The National -

Strict social distancing measures are being implemented at Idex 2021. Victor Besa / The National -

Exhibitors at Idex 2021 range from the manufacturers of armoured vehicles to cybersecurity companies. Victor Besa / The National -

The total value of deals the UAE is expected to sign this year is likely to be similar to the levels of 2019, organisers have said. Rashed Al Mansoori / Ministry of Presidential Affairs -

Sheikh Hamed bin Zayed, Member of Abu Dhabi Executive Council. The UAE Armed Forces awarded Dh5.03 billion in contracts on the first day of Idex, with the lion’s share of the deals going to local companies. Rashed Al Mansoori / Ministry of Presidential Affairs -

Sheikh Hamed bin Zayed, Member of Abu Dhabi Executive Council. Participants at this year's Idex are focusing on cyber security, autonomous weapons, and using advanced technologies such as artificial intelligence in defence applications and safe-guarding supply chains during the global health crisis. Rashed Al Mansoori / Ministry of Presidential Affairs
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Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.
At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.
It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.
But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties.
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The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
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