ISDEF to Establish Israeli Pavilion at Abu Dhabi's International Defense Exhibition

Combined logos of IDEX and NAVDEX via WAM
Combined logos of IDEX and NAVDEX via WAM
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ISDEF to Establish Israeli Pavilion at Abu Dhabi's International Defense Exhibition

Combined logos of IDEX and NAVDEX via WAM
Combined logos of IDEX and NAVDEX via WAM

IDEX, the International Defense Exhibition and Conference organized by Abu Dhabi National Exhibition Company, ADNEC, said it signed a strategic agreement with ISDEF, the Israeli Defense, Homeland Security and Cyber Expo to promote Israeli defense, security, and technology companies.

IDEX will take place at the Abu Dhabi National Exhibitions Center in Abu Dhabi from 21st to 25th February 2021.

The addition of the pavilion to the exhibition highlights the continuous growth and development of IDEX and NAVDEX since their launch in the early 1990s.

Since the inception of IDEX and NAVDEX, ADNEC has shown an impressive track record in shaping the regional business tourism landscape for the industry, state news agency WAM reported.

Previously, ISDEF hosted major Israeli companies from the defense and cyber sectors, such as OSG, IWI, NSO Group, Skylock, Elsight, and others, displaying advanced technologies and solutions including cybersecurity, intelligence and Internet of Things, IoT, mobile infrastructure, smart sensors, military and police equipment and training.

The opening of registration for Israeli companies to participate as part of the Israeli pavilion at IDEX is to be officially announced in the next few weeks.

Commenting on the signing of the agreements, Humaid Matar Al Dhaheri, Managing Director and Group CEO of ADNEC, said, "At ADNEC, we are happy to sign this partnership with ISDEF to introduce a new pavilion to IDEX and NAVDEX 2021. We look forward to working with our new partners, who will help us increase the attendance of both delegates and visitors to this leading regional event."

Stacy Dotan, Chief Marketing Officer and member of the Board of Directors of Avnon Group commented, "Following the recently signed historic peace agreement, I believe that there will be some amazing opportunities between the UAE and Israeli companies in the business and security sectors.

Matti Weinberg, CEO of ISDEF, said, "This agreement reflects ISDEF’s professional and forward-thinking approach as a major marketing platform for Israel’s innovative cybersecurity, defense and HLS technologies. This is an important step towards the recognition of leading technologies and exports promotion."

The upcoming edition of IDEX and NAVDEX is expected to cater to more than 1,300 companies specializing in different applications of the defense sector.



Gold Prices Climb on Safe-Haven Demand; US Payrolls Data in Focus

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
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Gold Prices Climb on Safe-Haven Demand; US Payrolls Data in Focus

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices climbed on Friday, supported by safe-haven demand arising from the Middle East conflict, while spotlight shifted towards US payrolls report to gauge the trajectory of the Federal Reserve's policy path.
Spot gold was up 0.3% at $2,662.50 per ounce, as of 0325 GMT, after climbing to an all-time high of $2,685.42 on Sept. 26. Bullion has gained 0.2 for the week.
US gold futures edged 0.1% higher to $2,682.10.
The dollar eased 0.1%, pulling back from over a one-month high, making greenback-priced bullion less expensive for other currency holders, reported Reuters.
Geopolitical tensions, particularly concerning Israel and Iran, are supporting gold prices and unless these risks subside, prices are likely to remain near record levels, said Ajay Kedia, director at Kedia Commodities, Mumbai.
The US is discussing strikes on Iran's oil facilities as retaliation for Tehran's missile attack on Israel, President Joe Biden said, while Israel's military hit Beirut with new air strikes in its battle against Lebanese armed group Hezbollah.
Bullion is considered a safe investment during times of political and financial uncertainty, and thrives in a low-rate environment.
The US nonfarm payroll data is due at 1230 GMT. New York Fed President John Williams and Chicago Fed President Austan are also scheduled to speak later in the day.
If the NFP report comes in strong, it will be positive for the dollar and then gold prices will see some profit-booking, Kedia added.
Traders see a 69% chance of a 25-basis-point Fed rate cut in November, according to CME FedWatch Tool.
BMI said in a note it expects gold prices to trade within the range of $2,500 to $2,800 in the coming months.
Spot silver rose 0.4% to $32.17 per ounce and has gained about 1.8% so far this week.
Platinum climbed 1.1% to $1,001.79 and palladium advanced 1.4% to $1,013.46.