ABU DHABI // Exhibitors will use up every square metre of the National Exhibition Centre when doors to the International Defence Exhibition and Conference open today.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, described Idex yesterday as "among the world's most important defence shows", and expressed his pride in the event's ability to constantly expand.
Since its launch in 1993, Idex has recorded steady year-on-year growth to become the biggest regional exhibition of land, sea and air defence systems. "We are pleased to announce the exhibition has nearly doubled in size since the previous edition," said Idex director Saleh Al Marzooqi.
Eighty companies representing 15 nations have registered to take part, and 5,000 visitors are expected at the 73,000-square-metre venue.
In addition, the quay at the centre has been extended to accommodate six vessels, compared with three before. "Ensuring the exhibition has the facilities needed to meet growing demand, we have expanded the quay wall by 50 per cent and installed escalators facilitating easier movement between Idex and Navdex, the Naval Defence Exhibition," said Mr Al Marzooqi.
Sheikh Mohammed said Idex should not be seen as an arms market, but rather a platform to promote the latest innovations.
"States do not send delegations to exhibitions in order to buy arms," he said.
"They do so to expand their knowledge, learn and view what is new. Armies do not determine their weapon systems within days or weeks, rather they take enough time to study, test and compare between alternatives before they take a decision. Deals that are concluded at such exhibitions are preceded by a decision that is made over months or even years," Sheikh Mohammed said.
"For the UAE, the exhibition offers its Armed Forces an ideal opportunity to update their information and to test new weapons and equipment to help increase their capabilities and readiness."
The UAE will host the largest country pavilion at the exhibition, testament to the growth of its local defence industry.
More than 147 UAE companies will be exhibiting, taking up more than 12,500sqm of exhibition space.
Tawazun will have the largest exhibition space (2,918sqm), and Mubadala has reserved 1,870sqm.
The Ministry of Interior will showcase its "most advanced e-services and some of its latest projects using geographic information systems, which will lead the way in the region", said Maj Gen Ahmed Nasser Al Raisi, director general of central operations at Abu Dhabi Police.
"Idex is a real opportunity to stay updated on the latest innovations in information technology," he said.
This year's exhibition growth follows the 12 per cent growth of country pavilions at the last Idex event in 2011.
China, Ukraine and South Africa increased the size of their exhibition space by 77, 53 and 46 per cent respectively, according to Al Ittihad, The National's Arabic-language sister newspaper. The country pavilions of Bulgaria, Austria and the United States expanded by 38, 35 and 28 per cent respectively.
The defence industry is growing significantly worldwide and regionally, and Arab countries' demand for cutting-edge defence products from regional and international suppliers is among the highest rates worldwide.
Defence spending in the Middle East is projected to exceed US$100 billion (Dh367.3bn) by 2015, according to the consulting firm Frost & Sullivan, and the defence budgets of the GCC countries and Jordan is expected to be around $80 billion by the same year.
According to the International Institute for Strategic Studies, the Middle East and North Africa accounted for 8 per cent of the world's military expenditure in 2011.
Data published by the Stockholm International Peace Research Institute showed the volume of worldwide conventional arms transfers in 2007-2011 was 24 per cent higher than in 2002-2006.
According to the Congressional Research Service, the value of arms-transfer agreements with developing nations in 2011 was about $71 billion - more than double the figure of 2010.
Against this backdrop of this fast-growing arms industry, worldwide and regionally, the value of transactions during the present and future editions of Idex are forecast to increase.
newsdesk@thenational.ae
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Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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Date started: December 24, 2018
Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer
Based: Dubai Media City
Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)
Sector: ConsumerTech and FinTech
Cashflow: Almost $1 million a year
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Results:
5pm: Baynunah Conditions (UAE bred) Dh80,000 1,400m.
Winner: Al Tiryaq, Dane O’Neill (jockey), Abdullah Al Hammadi (trainer).
5.30pm: Al Zahra Handicap (rated 0-45) Dh 80,000 1,400m:
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6pm: Al Ras Al Akhdar Maiden Dh80,000 1,600m.
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6.30pm: Al Reem Island Handicap Dh90,000 1,600m.
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7pm: Al Khubairah Handicap (TB) 100,000 2,200m.
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7.30pm: Wathba Stallions Cup Handicap Dh80,000 2,200m.
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Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
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Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
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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