Abu Dhabi-based Nimr, part of defence conglomerate Edge, has signed an agreement with Saudi Arabian Military Industries (Sami) to transfer technology for manufacturing JAIS 4x4 military vehicles in the kingdom.
The two companies signed the deal during the World Defence Show 2022 held in Riyadh this week. Nimr and Sami had signed a co-operation agreement during the International Defence Exhibition (Idex) held in Abu Dhabi last year.
“The new agreement further solidifies the partnership between Sami and Nimr,” Walid Abukhaled, chief executive of Sami, said on Thursday.
“With this manufacturing licence agreement, we at Sami are taking a huge step towards our mission to develop world-class defence technologies and systems within Saudi Arabia, in line with the Vision 2030 objective to localise 50 per cent of the kingdom’s military spending.”
Gulf countries, particularly the UAE and Saudi Arabia, are working to localise manufacture of military equipment as they focus on reducing their economic reliance on oil.
Sami, which operates through five main divisions, aims to generate $5 billion in annual sales by 2025 as it looks to become one of the top 25 defence companies in the world. The company is owned by the kingdom’s sovereign wealth fund, the Public Investment Fund.
Nimr is one of the 25 entities that make up Edge — a defence group formed in 2019 that specialises in developing advanced technology for weapons systems, cyber protection and electronic warfare.
Other businesses in the conglomerate include Adasi, Abu Dhabi Ship Building and arms manufacturer Caracal.
“It is truly a defining moment for us to enter the first major defence procurement programme between the UAE and Saudi Arabia,” said Abri du Plessis, chief executive of Nimr.
Nimr plans to export its military vehicles to more countries. It unveiled its second-generation Ajban 4x4 and Hafeet 6x6 armoured vehicles during Idex last year.
Saudi Arabia signed deals worth 29.7bn Saudi riyals ($7.9bn) during its inaugural World Defence Show, which concluded this week.
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
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
Killing of Qassem Suleimani
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Killing of Qassem Suleimani
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Dust and sand storms compared
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Dust storm
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- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
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UAE currency: the story behind the money in your pockets
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Company profile
Name: Oulo.com
Founder: Kamal Nazha
Based: Dubai
Founded: 2020
Number of employees: 5
Sector: Technology
Funding: $450,000
