UAE

Idex 2013: Tomorrow's systems today

The National highlights some of the exhibits at the International Defence Exhibition and Conference (Idex) that is set to open its doors in the capital today.

Mohammed N Al Khan

February 17, 2013

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DUBAI // The security risk of costly trips between prison and court could be a thing of the past thanks to the Remote Trial system.

The Ministry of Justice and the Ministry of Interior teamed up to create the system, which will allow evidence to be given by video conferencing rather than have the accused transported to and from court.

Remote Trial will be on display at the exhibition along with land, sea and air-defence systems from about 80 companies.

Abu Dhabi Police will showcase their mobile operations room, known as Meydaniya. It is fitted with the latest technology for use at accident scenes and other situations, providing centralised communication with everyone in the field, and streaming video and audio to the command centre at police headquarters.

Police will also display special surveillance equipment, from a digital camera that can be fitted to rescue dogs, to the Sniper radar and monitoring system to catch drivers who jump red lights.

Among international exhibits will be Raytheon's unique communications unit, TransTalk, a portable two-way device that automatically translates speech and can be configured for any language pairing.

It is designed to ease the exchange of information between battlefield allies across language barriers.

AgustaWestland will exhibit its new range of commercial, government and military helicopter types - including scale models of the GrandNew, AW169, AW139, AW189 and AW101.

About 25 per cent of the world fleet of AW139s are in the Middle East region.

"We are confident that the concept of our family of new-generation helicopters will also find significant success in the region," said Bruno Spagnolini, AgustaWestland's chief executive.

Also on display is the Alenia Aermacchi M-346 aircraft, the latest version of the MB-339, which is used by Al Fursan, the UAE's national aerobatics team.

"Since more than 40 years ago our jet trainers, basic trainers and transport aircraft have been in service in several countries in Mena," said Giuseppe Giordo, chief executive of Alenia Aermacchi.

Selex ES will be exhibiting its range of radar and airspace-surveillance systems.

"In Idex's Navdex area, the Baynunah, Falah 2 and Abu Dhabi class naval vessels are displaying Selex ES naval combat-management systems - just part of our portfolio of advanced sensors and systems," said the company's chief executive Fabrizio Giulianini. "We're proud to be putting our most advanced technology on show in Abu Dhabi."

SPECS

Nissan 370z Nismo

Engine: 3.7-litre V6

Transmission: seven-speed automatic

Power: 363hp

Torque: 560Nm

Price: Dh184,500

MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

Killing of Qassem Suleimani
Mina Cup winners

Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat

MATCH INFO

Fixture: Thailand v UAE, Tuesday, 4pm (UAE)

TV: Abu Dhabi Sports

The years Ramadan fell in May

1987

1954

1921

1888

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Results

ATP Dubai Championships on Monday (x indicates seed):

First round
Roger Federer (SUI x2) bt Philipp Kohlschreiber (GER) 6-4, 3-6, 6-1
Fernando Verdasco (ESP) bt Thomas Fabbiano (ITA) 3-6, 6-3, 6-2
Marton Fucsovics (HUN) bt Damir Dzumhur (BIH) 6-1, 7-6 (7/5)
Nikoloz Basilashvili (GEO) bt Karen Khachanov (RUS x4) 6-4, 6-1
Jan-Lennard Struff (GER) bt Milos Raonic (CAN x7) 6-4, 5-7, 6-4

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

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.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Profile Box

Company/date started: 2015

Founder/CEO: Mohammed Toraif

Based: Manama, Bahrain

Sector: Sales, Technology, Conservation

Size: (employees/revenue) 4/ 5,000 downloads

Stage: 1 ($100,000)

Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)

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