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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

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ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

$2.65bn in contracts signed during first two days of IDEX and NAVDEX 2025

The council signed five deals on the second day. (WAM)
  • Tawazun Council signed five deals worth a total of AED 5.8 billion with local and international companies on the second day of IDEX and NAVDEX 2025.
  • Tawazun Council is UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry of Defense and security agencies.

Abu Dhabi, UAE — Tawazun Council, UAE’s authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry of Defense and security agencies, said Tuesday that it had signed five deals worth a total of AED 5.8 billion with local and international companies on the second day of IDEX and NAVDEX 2025.

With these agreements, the total value of contracts signed during the first two days of the exhibitions has reached AED 9.77 billion ($2.65 billion) across 18 deals.

The announcement was made during a press conference attended by Majed Ahmed Al Jaberi, Mohammed Saif Al Zaabi, and Mahra Bilal Al Dhaheri, the official spokespersons for Tawazun Council.

The press briefing detailed the council’s contracts for the Ministry of Defense at IDEX and NAVDEX 2025, organized by ADNEC Group in collaboration with the Ministry of Defense and Tawazun Council.

Mahra Bilal Al Dhaheri stated that the second day’s local deals amounted to three contracts worth AED 5.57 billion. These included a contract with “Calidus Aerospace” to Procure HEDA Missile System (Phase 1) worth AED 3.76 billion, a contract with “International Golden Group” for the procurement of ammunition worth AED492 million, and an agreement with “DTEC Industries Limited” to purchase 50-meter marine traffic boats worth AED 1.38 billion.

Meanwhile, Mohammed Saif Al Zaabi announced that international contracts for the second day of IDEX and NAVDEX 2025 amounted to two deals worth AED213 million. These included an agreement with the French company “MBDA” to provide spare parts, maintenance, repairs, and technical support for naval equipment, valued at AED32 million. Additionally, a contract was signed with “Augusta Westland Aviation Services “of Italy to provide technical, engineering, and logistics support, along with aircraft spare parts, worth AED181 million.