Abu Dhabi’s defence group Edge has become the first company from the Middle East to rank in the top 25 companies worldwide for global sales of military equipment and services, according to new data.
Edge, which was created through the merger of more than 25 smaller companies last year, is now the 22nd-biggest company in the world in terms of domestic and foreign arms sales, the Stockholm International Peace Research Institute (Sipri) said.
“Edge is a good illustration of how the combination of high national demand for military products and services with a desire to become less dependent on foreign suppliers is driving the growth of arms companies in the Middle East,” Pieter Wezeman, senior researcher of Sipri’s Arms and Military Expenditure Programme, said.
The data from Sipri’s Arms Industry Database showed sales by the defence industry’s 25 biggest companies rose by 8.5 per cent last year to $361 billion.
The top five arms companies globally are all based in the US – Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics. Between them, they generated $166bn in annual sales.
Some 12 of the top 25 companies in the rankings were from the US, accounting for 61 per cent of the $361bn generated by the top 25. Four Chinese companies made the rankings – three of which were in the top 10. Aviation Industry Corporation of China ranked sixth, China Electronics Technology Group Corporation was eighth and China North Industries Group Corporation, or Norinco, was ninth.
Chinese arms companies’ sales grew 4.8 per cent and “are benefitting from military modernisation programmes for the People’s Liberation Army”, Sipri senior researcher Nan Tian said. Chinese defence companies generated 16 per cent of the top 25’s combined sales.
The revenues of the two Russian companies in the top 25 – Almaz-Antey and United Shipbuilding – decreased by a combined $634 million between 2018 and 2019, Sipri said. A third Russian company, United Aircraft, lost $1.3bn in sales and dropped out of the top 25.
“Domestic competition and reduced government spending on fleet modernisation were two of the main challenges for United Shipbuilding in 2019,” researcher Alexandra Kuimova said.
There were also six companies from Western Europe that accounted for 18 per cent of sales. France’s Dassault Aviation Group reported the biggest annual percentage increase in sales – up 105 per cent during the year – as it exported a large number of its Rafale combat aircraft to customers.
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
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- On sale: 2026
- Price: Not announced yet
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The specs: 2018 Renault Koleos
Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
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Power: 170hp @ 6,000rpm
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Yemen's Bahais and the charges they often face
The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.
The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran.
Today, some 2,000 Baha'is reside in Yemen, according to Insaf.
"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said.
Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer.
The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy.
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Killing of Qassem Suleimani
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The five pillars of Islam
