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Thursday, February 26, 2009

UAE defence spending spree hits 4.6 billion dollars

DHC-8-Q300The United Arab Emirates on Wednesday continued its buying spree at the country's biennal IDEX defence show, lifting its orders to a record 4.6 billion dollars despite the global credit crunch.

"Total orders up to date have reached 16.8 billion dirhams" (4.6 billion dollars), IDEX 2009 defence show spokesman General Obeid al-Ketbi boasted.

The enormous spending tally excludes a large order for 48 trainer aircraft M346 from Italian manufacturer Alenia Aermacchi which was announced Wednesday, as the value of that contract has yet to be finalised, he said.

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