UAE signs $5.45 bln defence contracts

The United Arab Emirates' Armed Forces signed AED 20 billion ($5.45 billion) in defence contracts this week at the IDEX military exhibition in Abu Dhabi, a spokesman said on Thursday.

The armed forces signed contracts worth 268 million dirhams with international companies and 135.1 million dirhams with local companies on Thursday, the spokesman for the military said. ($1 = 3.6728 UAE dirham)