logo
IDEX and NAVDEX conclude with total of Dhs25.15b in deals in Abu Dhabi

IDEX and NAVDEX conclude with total of Dhs25.15b in deals in Abu Dhabi

Gulf Today21-02-2025

Tawazun Council announced 15 deals valued at Dhs1.43 billion with both local and international companies. This brought the total number of deals signed during the five-day exhibition to 55, with a total value of Dhs25.15 billion, marking a 10% growth compared to the 2023 edition.
The total contracts signed amounted to Dhs3.97 billion on the first day, Dhs5.80 billion on the second day, Dhs10.18 billion on the third day, and Dhs3.77 billion on the fourth day.
The announcement was made during a press conference attended by Majed Ahmed Al Jabri, Mohamed Saif Al Zaabi, and Mahra Bilal Al Dhaheri, the official spokespersons for Tawazun Council, who shared details about the council's agreements for the Ministry of Defence at the exhibitions.
Mahra Bilal Al Dhaheri revealed that the total value of local deals on the fifth and final day of the exhibitions reached 11 deals worth Dhs766.3 million. Among them were three contracts with "International Golden Group': the first for purchasing ammunition valued at Dhs145.3 million, the second for renewing licenses and programs for the Electronic Medical File System (HIS) infrastructure, worth Dhs180 million, and the third for purchasing military uniforms and equipment valued at Dhs136.8 million.
Other notable local deals included contracts with "Al Jaber Land Systems' for the provision of support services and spare parts for trailers worth Dhs28 million, "Itqan AL Khaleej Computers' for the development of infrastructure for the Ministry of Defence's " Sheryan" system valued at Dhs74.1 million, and "Al Taif' for maintenance services of air defence systems worth Dhs29 million.
A contract was awarded to "e-Marine' for maintenance and repair services of submarine cables for the Sharyan Network project, valued at Dhs30 million. Additionally, an Dhs25 million contract was signed with "Trans Orient' for technical support services for Armed Forces vehicles. Another agreement, worth Dhs22.5 million, was secured with "Al Aberah Electrical' Works to provide technical support.
Furthermore, "Fast Marine' was contracted to supply inspection boats for Dhs68.8 million, while the final deal involved "Etimad Strategic Security Solutions,' which secured an Dhs26.8 million contract for the purchase of a specialised vehicle.
Mohamed Saif Al Zaabi highlighted that the total value of international deals on the fifth day of the "IDEX and NAVDEX 2025" exhibitions amounted to 4 contracts worth Dhs661.6 million. These included a contract with US-based "Lockheed Martin" for the alignment of new Sidewinder missiles, valued at Dhs429.4 million, and a contract with US-based' INSITU "for maintenance, repair, and sustainment services for drone systems, valued at Dhs55.1 million.
The deals also included an agreement with French company "Safran Helicopter Engines" for technical and engineering support services, as well as the supply of spare parts for aircraft engines, valued at AED23.6 million. Additionally, a contract was signed with South Africa's "GEW Technologies" for the purchase of a wireless jamming system worth AED153.5 million.
Majed Ahmed Al Jabri emphasised that the success of IDEX and NAVDEX 2025 highlights the UAE's prominent position as a global leader in the defence industry. He added that the increased confidence in the UAE's defence and security investment environment reflects the country's role as a key strategic partner in this vital sector. Tawazun Council remains committed to enhancing the competitiveness of the national industry, supporting innovation, and ensuring defense readiness by attracting the latest global technologies and solutions.
He continued, "With the conclusion of the 17th edition of IDEX and the 8th edition of NAVDEX, we reaffirm Tawazun's role in achieving its goals of adding value through strategies that adopt the best practices in procurement and acquisition management, in close cooperation with our strategic partner, the Ministry of Defence, in line with the UAE's vision of developing a future-oriented defense sector.'
Al Jabri concluded, "We take this opportunity to celebrate the immense success of this year's exhibitions and are confident that future editions will see further growth and progress, thanks to the visionary leadership of our wise leaders and the ongoing journey of comprehensive development toward a prosperous future.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Saudi Oil Flow to China Inches Down Amid OPEC+ Expansion
Saudi Oil Flow to China Inches Down Amid OPEC+ Expansion

Arabian Post

timean hour ago

  • Arabian Post

Saudi Oil Flow to China Inches Down Amid OPEC+ Expansion

Saudi Arabia will export about 47 million barrels of crude to China in July, marking a modest decline of one million barrels compared with June allocations. Despite the slight reduction, this remains the third consecutive month of elevated shipments to the world's largest crude importer, underscoring Riyadh's resurgence in securing market share. This shift follows a decision by OPEC+—a coalition of the Organisation of the Petroleum Exporting Countries and key allies—to increase collective oil production by 411,000 barrels per day in July, mirroring identical output hikes in May and June. Within this framework, Saudi Arabia has strategically adjusted its allocations across refiners within China's vast energy landscape. State-owned giants Sinopec and PetroChina, alongside the Aramco-Sinopec joint-venture Fujian refinery, are designated to receive greater volumes in July. Conversely, independent processors such as Rongsheng Petrochemical, Hengli Petrochemical, and Shenghong Petrochemical face reductions. This redistribution highlights a prioritisation of established, integrally linked buyers amid a backdrop of expanding OPEC+ supply. ADVERTISEMENT Although Aramco has yet to comment publicly, the company's allocation strategy aligns with broader pricing adjustments. Saudi Arabia recently reduced the official selling price of its Arab Light grade to Asia for July, setting it at $1.20 per barrel above the Oman/Dubai benchmark—20 cents less than June's pricing and the lowest benchmark since May. This pricing decision reflects two intertwined considerations: increased global supply and sustained domestic demand. Internally, Saudi Arabia ramps up crude consumption for power generation and refinery throughput during the summer months. This seasonal domestic demand can restrict exportable volumes, prompting a more conservative OSP reduction compared with the broader cutbacks anticipated by markets. Meanwhile, the continued output expansion under OPEC+ serves both competitive and geopolitical objectives, helping Riyadh reclaim influence in key markets. OPEC+ members have collectively unwound approximately 1.37 million bpd of previously implemented cuts since April, which form part of an initial 2.2 million bpd reduction plan initiated in early 2025. The restored output aims to counterbalance growing global non-OPEC production and mitigate domestic political pressure—particularly from the US, which has advocated for greater oil supply. Notably, seven other nations in the coalition also agreed to this third consecutive increase, reinforcing OPEC+'s strategic shift towards output recovery. Market analysts indicate that larger increases in crude availability have begun to weigh upon Middle Eastern benchmarks, with the June OSP developments 'less aggressive' than anticipated, partly due to Saudi Arabia's own intensified refinery runs. Global demand dynamics further complicate the outlook, with potential softening in Chinese economic indicators and US-China trade negotiations influencing futures pricing. This recalibrated export approach reflects a nuanced balancing act for Saudi Arabia: securing long-term contracts with major Chinese refiners while managing domestic consumption and contributing effectively to global supply strategies. Analysts point out that the kingdom has largely succeeded. Brent crude futures have remained stable around $65 per barrel, with occasional upward pressure following confirmation of July's OPEC+ increment. ADVERTISEMENT Within China, diversions in allocations have specific implications. State refiners, many with government backing and deeper logistical links to Aramco, stand to gain from increased shipments. Independent refiners, essential drivers of private-sector energy demand, are compelled to source a greater share of crude from alternative suppliers such as Russia, the Middle East, or emerging West African producers. Their reduced access to Saudi barrels may translate to thinner margins amid said competition. Chinese crude throughput data underscores this evolving dynamic. Earlier this year, the nation's refiners reached record-high processing levels—nearing 14.8 million barrels per day—yet faced maintenance schedules and weakening export margins for oil products. These factors have cooled demand from some processors, slightly alleviating pressure on upstream supply chains. Within OPEC+, calls for coherence and strict quota compliance persist. Saudi Arabia has publicly censured members like Kazakhstan for exceeding agreed production levels, underlining Riyadh's insistence on an equitable distribution of output responsibilities. Expectations remain that OPEC+ may complete the unwind of its 2.2 million bpd voluntary cuts by the end of September, though some analysts caution that internal discipline could falter, potentially reshaping future output and pricing trajectories. Against this backdrop, Saudi Arabia's adjusted supply to China illustrates both strategic recalibration and geographic realignment. By trimming shipments marginally from independents, bolstering allocations to state-linked refiners, recalibrating export prices, and synchronising with collective OPEC+ policies, the kingdom is reinforcing its position in a price-sensitive, competitive marketplace. July's allocations represent not a retreat but a fine-tuned manoeuvre in a complex global chessboard. Saudi Arabia is both maintaining influence and responding to evolving domestic and international demands. While Chinese imports continue at robust levels, the marginal dip signals a deliberate redistribution rather than a market-driven contraction.

Arqaam Capital Intensifies ECM and DCM Push Amid Gulf Deal Boom
Arqaam Capital Intensifies ECM and DCM Push Amid Gulf Deal Boom

Arabian Post

timean hour ago

  • Arabian Post

Arqaam Capital Intensifies ECM and DCM Push Amid Gulf Deal Boom

Arqaam Capital is stepping up its equity capital markets, debt capital markets, and loan syndication operations in response to an upswing in transaction volume across Saudi Arabia and the UAE, positioning itself as a more prominent regional player. The Dubai‑based financial services firm, with licenced offices in the UAE, Saudi Arabia, Egypt and Lebanon, has secured permissions in the Kingdom of Saudi Arabia to advise on ECM mandates. Rawad Kassouf, Head of ECM Execution & Syndicate, noted that the Saudi team is undergoing expansion and actively leveraging a 27‑strong research analyst base to deepen research capabilities and strengthen regional and international distribution for issuers. Arqaam, originally a sales and trading brokerage, entered the ECM arena by managing the Dubai Holding REIT as a joint bookrunner. Kassouf, who joined from ADCB in August 2024 to spearhead ECM expansion, said, 'We're getting deals from the UAE, Saudi Arabia and Oman, and we expect to advise on more ECM transactions by year end'. He anticipates increasing activity in Saudi listings, particularly from industrial and real estate sectors driven by large family-owned businesses seeking to list on Tadawul. ADVERTISEMENT Expansion across the debt-markets is being led by Omar Musharraf, newly appointed Managing Director of Debt Solutions and DCM. Musharraf joined less than two months ago from Oman Investment Bank, where he headed structured finance and DCM. At Arqaam, he is tasked with growing the debt platform by anchoring flow business in DCM and loan syndications, as well as higher‑margin structured finance and private credit. GCC debt capital markets had outstanding debt exceeding US$1 trillion by end‑Q1 2025, rising 10 % year‑on‑year, with quarterly issuance hitting US$89 billion—a modest 3 % year‑on‑year decline despite quarterly growth. Musharraf remarked on the sophistication of issuances and tighter pricing, increasing competition and compressing fees: 'Value creation now hinges on structuring complexity and execution'. By year‑end, Musharraf expects a full debt solutions strategy supported by new fixed‑income analysts added to the research team. Arqaam has already supported key transactions, such as the Sobha deal, and is involved in several additional corporate, financial institution, and sovereign debt transactions, also evaluating private credit opportunities. The firm is staging its DCM expansion prudently, targeting high‑quality credit issuers—government‑linked entities or private sector firms aligned with regional priorities, including oil and gas. It is also aiming to tap deeper into sukuk markets and Additional Tier 1 issuances across Saudi and the UAE. New regulatory standards are catching attention: AAOIFI's Standard 62 introduces potential complexities to sukuk issuance, prompting careful monitoring by Arqaam. ADVERTISEMENT Forecasts indicate around US$35 billion of debt refinancing across the GCC in 2025–26, driven by sovereign and corporate maturities as well as infrastructure financing and economic diversification strategies. Musharraf commented, 'Debt refinancing alone will keep us active, with a significant volume of sovereign, corporate and FI maturities on the horizon,' alongside new issuances from regional and global players. Kassouf highlights Oman as a potential growth market: an upgrade from frontier to emerging market status—possibly scheduled for next year—could attract increased foreign direct investment, re‑ratings and valuation boosts. Despite the growth trajectory, both ECM and DCM businesses face pressures. Kassouf points to 'tight fees and stiff competition,' especially in post-launch aftermarket performance, which requires a delicate equilibrium between issuer objectives and investor returns. Musharraf echoes this sentiment, acknowledging fee compression and the escalating demand for intricate structuring. Arqaam is taking a strategic approach in response. The firm is intensifying recruitment across ECM and DCM, enhancing its research infrastructure to include fixed-income analysts and emphasising structuring capabilities that justify its advisory fees. This expansion is underpinned by strong macroeconomic fundamentals in the Gulf region. Saudi Arabia—responsible for 45.1 % of GCC DCM outstanding—and the UAE, with Qatar, are at the forefront. ECM activity is gaining momentum, with growing participation from real estate conglomerates looking to diversify via public listings. Government‑related entities are expected to fuel much of the pipeline in Q3 and Q4, though privately owned firms are increasingly opining on listing possibilities. Oman's evolving market classification adds another source of upside, potentially drawing new players and capital. Looking ahead, Arqaam Capital seems poised to navigate the complexities of Gulf capital markets with a reinforced advisory model, deeper research backing, and a dual‑track strategy across ECM and DCM. The firm is strategically augmenting its teams, refining product offerings, and tracking regulatory and market shifts to capitalise on Gulf investment flows while standing firm against competitive and pricing headwinds.

Chinese rocket delivers e-commerce packages in sea recovery test
Chinese rocket delivers e-commerce packages in sea recovery test

Al Etihad

timean hour ago

  • Al Etihad

Chinese rocket delivers e-commerce packages in sea recovery test

10 June 2025 12:19 BEIJING (AGENCIES) A Chinese private rocket firm has successfully tested transporting packages from Taobao, one of the country's largest e-commerce platforms, using a reusable rocket. The rocket was later recovered from the sea, marking a significant advancement in commercial space a Beijing-based startup, completed its inaugural "rocket delivery" experiment on May 29 when its XZY-1 verification rocket carried over 20 kilogrammes of packages during a test flight off China's eastern coast, Xinhua News Agency 26.8-metre stainless steel rocket, weighing 57 tonnes, flew for 125 seconds and reached an altitude of 2.5 kilometre before successfully landing vertically on the sea surface near Shandong Province. Following an 18-hour recovery operation, the rocket was retrieved intact and returned to the facility in excellent condition, according to rocket's cargo bay, measuring 120 cubic metres, is designed to carry up to 10 tonnes of goods and could theoretically transport cars and small experimental cargo in the recent testing launch included items from two Taobao marketplace stores, including products from the National Library's official flagship store, as well as commemorative postcards created specifically for the Founder Wei Yi said, "The experimental parametres show that the express delivery warehouse meets the expected standards in fire resistance, moisture resistance and shock absorption." The rocket company's collaboration with Alibaba's Taobao signified China's exploration into the burgeoning field of point-to-point rocket transport. This technology promises to revolutionise global logistics by reducing intercontinental delivery times from days to minutes.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store