UAE announces $1.1 bln of military deals with international companies — IDEX

Abu Dhabi’s Crown Prince Mohammed bin Zayed Al-Nahyan (2nd L) and Dubai’s Ruler Sheikh Mohammed bin Rashid Al-Maktoum, Prime Minister and Vice President of the United Arab Emirates (R) attend the International Defense Exhibition & Conference (IDEX) in Abu Dhabi, United Arab Emirates February 17, 2019. (Reuters)
Updated 17 February 2019
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UAE announces $1.1 bln of military deals with international companies — IDEX

  • Real estate companies see sentiment improve despite sluggish market where downward pressures remain on rents and prices

ABU DHABI: The United Arab Emirates (UAE) said on Sunday it had signed military deals worth 3.87 billion UAE dirhams ($1.1 billion) with international companies.
A spokesman for the IDEX defense conference said the UAE had also announced military deals worth 1.1 billion UAE dirhams with local companies.
($1 = 3.6726 UAE dirham)

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 Emaar, Aldar post better-than-expected results.  Real estate sector gets confidence boost.  DAMAC gains despite 87 percent drop in Q4 net profits.


Hundreds of Algerian lawyers protest against Bouteflika

Updated 26 min 33 sec ago
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Hundreds of Algerian lawyers protest against Bouteflika

  • They gathered in Algiers’ center, the scene of mass protests for one month
  • Algerians first took to the streets a month ago to protest against Bouteflika’s plan to seek a fifth mandate

ALGIERS: Hundreds of Algerian lawyers protested again on Saturday in the capital to demand the immediate resignation of President Abdelaziz Bouteflika who has been for 20 years in power.
They gathered in Algiers’ center, the scene of mass protests for one month, holding up slogans that read: “Respect the will of the people” and “Yes to a judiciary free from corrupt dignitaries.”
Algerians first took to the streets a month ago to protest against Bouteflika’s plan to seek a fifth mandate.
The 82-year old, who has rarely been seen in public since suffering a stroke in 2013, bowed to the protesters last week by reversing plans to seek re-election.
But he stopped short of quitting as head of state and said he would stay on until a new constitution is adopted. The move further enraged Algerians, and many of Bouteflika’s allies have turned against him.
Some members of the ruling National Liberation Front party, known by its French acronym FLN, have also sided with the demonstrators.
The powerful military has been watching the protests unfold.
The generals have intervened in the past at momentous times, including canceling an election which Islamists were poised to win in 1992, triggering a civil war in which an estimated 200,000 people were killed.
On Friday, hundreds of thousands protested across the North African country.