Abu Dhabi groups UAE defense firms under one roof to cut costs - Reuters:
Abu Dhabi plans to group more than 25 state-owned and private entities in the UAE defense sector, with combined annual revenues of $5 billion, into a single defense company.
The United Arab Emirates, of which Abu Dhabi is the oil-wealthy capital, is one of the top buyers of Western arms and defense systems, mostly from its key ally the United States, and to a lesser extent from Russia and China.
In a further consolidation after a 2014 merger of state-run defense firms, Abu Dhabi said on Tuesday it was forming EDGE to invest in technology, including artificial intelligence, as well as research and development.
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