Lockdown blues: Breakups boost UK housing market

first_img whatsapp Hopper says sales put on hold last year due to Brexit are also helping the market. And he adds people want to act fast because they “see dark clouds circling on the horizon later this year”. She says it was an odd experience, however. “We were able to visit and have a look round, but obviously fully masked and gloved up.” “It’s just unfortunate we’re seeing the boost from people deciding they no longer want to be together.” But Jonathan Hopper, chief executive of Garrington Property Finders, says it is also helping UK house prices. “It’s a real thing in the market and it is driving supply,” he says. Hopper says it is simply too difficult to predict. “National data should be taken with a healthy pinch of salt at the moment,” he says. “I think we will see property prices increase especially outside of London, because of the areas where property values fall up to the £500,000 mark.” The property market is currently defying gravity, with asking prices hitting an all-time high in July and spirits buoyant after the chancellor slashed the stamp duty homes tax. But viewings and moves were once again allowed in mid-May. And since then there has been a “mini boom” in the market, agents say.  UK house prices helped after lockdown eased Share Harry Robertson Tuesday 21 July 2020 7:00 am “There’s some markets that are performing exceptionally well [but] there are other markets that are really starting to feel the economic headwinds coming.” Lucy Pendleton, property expert at estate agent James Pendleton, agrees. She says the lettings market is “the one that you’re seeing the reaction from straight away”. Rightmove says asking rents outside London hit a record high in June. London rents slipped 0.6 per cent year on year, however. Although UK house prices have fallen slightly according to some indicators, the drop has so far not been as bad as expected (AFP via Getty Images) Also Read: Lockdown blues: Breakups and divorces support UK house prices Forrester says he was expecting the market to “plateau out” over the coming months. But he thinks the stamp duty cut has improved the outlook: “We are going to see a boom straight away.” But by Nationwide’s indicator, UK house prices fell 0.1 per cent year on year in June in the first annual decline since 2012. And Rightmove’s property index suggests the London market is depressed.  whatsapp Although UK house prices fell in June according to Nationwide and Halifax, the average asking price of property coming to market this month was up 2.4 per cent compared to March, property platform Rightmove said yesterday. And buyer enquiries were up 75 per cent year on year. Agents say the market has been supported by pent-up demand. The coronavirus pandemic has also caused people to reconsider their living situations. Breakups support both sales and rentals Yet he says it’s sometimes an uncomfortable situation: “As an estate agent it’s great to get valuations and new listings but it’s not nice obviously seeing what it’s for.” Although UK house prices have fallen slightly according to some indicators, the drop has so far not been as bad as expected (AFP via Getty Images) Buyers demand more space amid pandemic Cheerier events have also driven property market activity, however. Alex and her partner Dave (who asked for their surnames not to be used) decided to move to London together after enjoying their time in lockdown with each other. Although UK house prices have fallen slightly according to some indicators, the drop has so far not been as bad as expected (AFP via Getty Images) Also Read: Lockdown blues: Breakups and divorces support UK house prices Divorce enquiries have jumped by around 40 per cent since the start of the UK’s coronavirus lockdown, Co-op Legal Services said in June. And as people break up and move out, they look for a new place to live. Buyers are increasingly keen on garden space after spending months in lockdown (Getty Images) Lockdown blues: Breakups and divorces support UK house prices “We’re hearing so much doom and gloom about people breaking up but for us it’s been the absolute opposite,” Alex says. “We just got on even better.” “We are seeing a spike without a shadow of a doubt, and we’re starting to see that boost of stock come through,” says James Forrester, managing director of Barrows & Forrester estate agents in Birmingham. Yet Pendleton is slightly skeptical, saying people always want gardens in the summer. “If the sun is shining and you can smell a barbecue you don’t want to be in a third-floor flat, do you?” The big question is whether the property market can keep beating the odds as the UK economy limps through the coronavirus pandemic. Chancellor Rishi Sunak this month unveiled a stamp duty “holiday” to try to juice the sector, raising the payment threshold to £500,000 from £125,000. Some analysts are more skeptical, citing a likely wave of unemployment when the government’s furlough scheme ends.  North London estate agent Jeremy Leaf says breakups and divorces have driven activity in the rentals market in particular. “It’s easier to flip in and out of a property,” he says. Richard Donnell, research director at property website Zoopla, says that “London is lagging behind” as cities lose their allure during the coronavirus lockdown. “Some people are seeing the opportunity of ‘maybe I can work more remotely’,” he says. Alex says it was crucial they got a place with a garden in case “we have a second lockdown”. But estate agents say a less-publicised factor has been helping the property sector ride out economic turbulence better than most had predicted: A surge in lockdown breakups and divorces. Estate agents up and down the country have been seeing similar demands for outdoor space. Forrester says: “Gardens are now number one on the requirements for semi-detached and obviously detached homes.” Although UK house prices have fallen slightly according to some indicators, the drop has so far not been as bad as expected (AFP via Getty Images) Also Read: Lockdown blues: Breakups and divorces support UK house prices “Sadly I think some people have reevaluated what they want from life and I think it has been the catalyst for some people.”  Will UK house prices tumble? Although UK house prices have fallen slightly according to some indicators, the drop has so far not been as bad as expected (AFP via Getty Images) Also Read: Lockdown blues: Breakups and divorces support UK house prices The property market was frozen when Britain went into lockdown in March. In April and May, property sales were an enormous 50 per cent down year on year, HMRC data shows. Show Comments ▼last_img read more

Four-in-10 Londoners expect pay rise in next 12 months despite coronavirus recession

first_img Four-in-10 Londoners expect pay rise in next 12 months despite coronavirus recession Lee Biggins, founder and CEO of CV-Library comments: “It’s understandable that professionals in London are looking to regain some of their lost income in the coming months, particularly if they’ve been placed on furlough. whatsapp The survey found that half of Londoners who are currently unemployed feel confident they will secure a new role in the next three months.   “If you’re expecting a pay rise or promotion in the next year, it’s important that you remain realistic with your expectations. Biggins added: “The data clearly shows that professionals in London are hopeful about the future of the job market. While we are seeing an increase in the number of job opportunities available in the capital, job seekers may find that there is more competition for top roles.” “Many businesses have struggled during this difficult time and may not be able to offer you exactly what you want. According to CV Library data, salaries in London increased two per cent month-on-month in July and 6.1 per cent year-on-year. “That said, it’s still possible to secure a great offer. Just be sure to go to your manager with clear justifications and evidence for why you deserve that pay rise or promotion.”  (AFP via Getty Images) (AFP via Getty Images) Also Read: Four-in-10 Londoners expect pay rise in next 12 months despite coronavirus recession Additionally, 22 per cent of Londoners think they will be offered a promotion in the next 12 months. whatsapp (AFP via Getty Images) Also Read: Four-in-10 Londoners expect pay rise in next 12 months despite coronavirus recession Four in 10 Londoners expect a pay rise in the 12 months despite the impact of the coronavirus pandemic on the economy.  Show Comments ▼ A survey by job board CV Library found 43.8 per cent of Londoners expected a pay bump in the next year. “However, the government’s Job Retention Scheme will come to an end in October and a second wave of the virus could make the job market even more competitive in 2021.   Share Tuesday 25 August 2020 10:39 am James Booth More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comlast_img read more

For now, Hurricane Harvey not expected to impact Alaska’s oil and gas

first_imgAlaska’s Energy Desk | Energy & Mining | Nation & WorldFor now, Hurricane Harvey not expected to impact Alaska’s oil and gasAugust 29, 2017 by Rashah McChesney, Alaska’s Energy Desk – Juneau Share:Coast Guardsmen rescue 15 people in distress aboard three vessels after Hurricane Harvey made landfall near Aug. 26, 2017, near Port Aransas, Texas. (Photo courtesy Coast Guard Air Station Corpus Christi)Hurricane — now Tropical Storm — Harvey has caused nearly 100 oil and gas production platforms in the Gulf of Mexico to temporarily shut down.  Since the storm came ashore last Friday, oil production in the region has dropped by more than 300,000 barrels per day, according to data from the Bureau of Safety and Environmental Enforcement.According to agency estimates, about 22 percent of the oil production and 26 percent of the natural gas production in the Gulf of Mexico has been shut down.But that drop in production doesn’t necessarily translate to a higher demand for Alaska’s oil, because globally the oil market is oversupplied. “There’s a lot of ability for the market to absorb a temporary shut-in of some production here or there,” said Chief Economist for the Alaska Department of Revenue  Dan Stickel.Additionally, Alaska’s oil doesn’t compete with Gulf Coast oil. Stickel said they’re essentially going into two different markets.  “Alaska’s oil is all going to the West Coast and competing with international crude,” Stickel said.As long as production isn’t stalled long-term from the hurricane, Stickel said it’s not likely that oil prices are going to jump significantly.Alaskans aren’t likely to see an increase in the price of gasoline at the pump either.  Goldman Sachs estimates that the hurricane has taken about 3 million barrels a day of the nation’s refining capacity offline.  But, Stickel says that Alaska gets most of its gas from West Coast refineries. If Gulf Coast refineries stay offline for an extended period of time, gas prices in Alaska could be impacted. When Hurricane Katrina hit New Orleans in 2005, prices at the pump spiked all over Alaska. That storm left crucial oil pipelines and refineries in the Gulf Coast region unable to operate for weeks.   “We’re not really expecting that type of impact from this particular hurricane,” Stickel said.Share this story:last_img read more

Fresnillo profits plunge as gold prices struggle

first_imgWednesday 4 March 2015 8:42 pm Express KCS Tags: Gold prices whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof Show Comments ▼ Fresnillo profits plunge as gold prices struggle MEXICAN mining firm Fresnillo saw shares dip by 8.46 per cent yesterday, after reporting that pre-tax profits dropped by 40 per cent during 2014, plummeting from $419m (£275m) to $251m.The company also saw a 12.5 per cent decline in revenue for 2014, from $1.6bn in 2013 to $1.4bn.The group said that its “low cost operations, strong balance sheet, high quality assets and a solid pipeline of organic growth projects provided some defence” against a challenging year for precious metal producers, but acknowledged it was not enough to prevent a 10.2 per cent decline in the average realised gold price. The average realised silver price fell by 18.4 per cent.Fresnillo chairman Alberto Bailleres said that while geopolitics, global security issues, economic uncertainties and volatility “may have driven investors to precious metals as a safe haven in the past”, those factors had “no direct correlation to prices this year”.He added: “I am hard pressed to recall a time in this industry with such marked uncertainty regarding prec­ious metal prices. There is little consensus today on where we are in the current cycle and which catalysts might bear most impact on pricing. In the face of such uncertainties, we choose to be conservative in our projections.”Despite the uncertainty in the market, the company has raised capex for 2015 to around $700m, compared to $425.6m in 2014, due to on-going construction at its San Julian operation, and development of several other sites. whatsapp Sharelast_img read more

No General Election, €500,000 and the Liam McCarthy cup – It’s this week’s Top Stories

first_img WhatsApp WhatsApp By Sarah Cullen – 16th December 2018 Twitter Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ Pinterest Community Previous articleLIVE BLOG: Laois hurlers face Carlow in O’Moore ParkNext articleCarlow’s second half blows Laois out of the water Sarah Cullenhttp://www.laoistoday.ieSarah Cullen is a Journalism and New Media graduate from the University of Limerick. A Portlaoise native, she is happiest when tweeting and talking about dogs. Facebook No General Election, €500,000 and the Liam McCarthy cup – It’s this week’s Top Stories RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter Pinterest Community Council It was another busy week in LaoisToday and we’ve picked out some of the top stories of the week for you to look back on.We have everything from General Election news to a €500,000 Euromillions ticket.Check them out below.NEWS No General Election in 2019 as Fianna Fáil to extend confidence and supply arrangement, they concluded that Ireland cannot afford to have an election among uncertainty with Brexit.In Pictures: Liam McCarthy Cup and All-Ireland winning hurlers visit Timahoe NS, what a memorable day.Are you €500,000 richer this morning? EuroMillions ticket sold in Mountmellick, one lucky person woke up to some good news.‘Democracy has not won’ as Portlaoise will not become no poster town, this debate has been ongoing for the past number of weeks..Bridget Jones releases new book about Laois area, sounds like a great read.Well wishes pouring in for the McDonalds ahead of Ireland’s Fittest Family final, the whole county is behind them.Body discovered in the Midlands, the news broke on Thursday.SPORT McCaul kicks Portlaoise CBS into South Leinster semi finals, it will take place in January of next year.Former Dublin manager Lyons recalls famous 2003 loss to Laois in new book, Dublin – The Chaos Years.PROPERTY In Pictures: Three-bed semi in Boughlane Way in Portlaoise for €179,000, a very nice property. WE ARE LAOIS As Christmas approaches, here’s 20 of the best places to propose in Laois for anyone feeling romantic.SEE ALSO – Your guide to What’s On in Laois this very busy weekend TAGSTop Stories Home We Are Laois No General Election, €500,000 and the Liam McCarthy cup – It’s this… We Are Laois New Arles road opens but disquiet over who was invited to official opening Laois secondary school announces scholarship winners for new academic yearlast_img read more

Feds to end tax-planning opportunity associated with linked notes

Feds to allow incorporated professionals continued access to small business tax rate The Liberal government is proposing changes that would eliminate a tax-planning opportunity associated with linked notes, such as principal-protected and principal-at-risk notes, in this year’s federal budget. The proposed measure will apply to sales of linked notes that occur after September. The feds propose to make changes to the Income Tax Act so that the return on a linked note retains the same character whether it’s earned at maturity or reflected in a secondary market sale. Share this article and your comments with peers on social media Related news Facebook LinkedIn Twitter Under current legislation, some investors who hold their linked notes as capital property sell them prior to the determination date effectively to convert the return on the notes from ordinary income to capital gains, only 50% of which is included in their income. To facilitate this, issuers of linked notes often establish a secondary market in which investors can sell their linked notes prior to maturity to an affiliate of the issuer. “Linked notes pay interest based on the return of an underlying index,” says Jamie Golombek, managing director of tax and estate planning with Toronto-based Canadian Imperial Bank of Commerce’s wealth strategies division. “Some investors will sell the note days before the note matures and realize a capital gain rather than wait until the note matures and earn interest, which is taxable as ordinary income.” The federal government proposes that a deeming rule will apply for the purposes of the rule relating to accrued interest on sales of debt obligations. This deeming rule will treat any gain realized on the sale of a linked note as interest that accrued on the debt obligation for a period commencing before the time of the sale and ending at that time. “After Sept. 30, you can no longer get cap gains treatment simply by selling prior to maturity,” Golombek says. The budget is also proposing that when a linked note is denominated in a foreign currency, foreign currency fluctuations will be ignored for the purposes of calculating gain. An exception will also be provided where a portion of the return on a linked note is based on a fixed rate of interest. In that case, any portion of the gain that is reasonably attributable to market interest rate fluctuations will be excluded. A linked note is a debt obligation the return on which is linked to the performance of a reference asset or index over the term of the obligation. The reference asset or index can be a basket of stocks, an index, a commodity, a currency or units of an investment fund and is generally unrelated to the operations of the issuer. Ottawa aims to make post-secondary education more affordable Feds target life insurance tax loopholes for HNW clients Keywords Linked notes,  Budget 2016 Feds to invest in boosting the middle class Rudy Mezzetta Budget 2016: Personal tax changes read more

Pavilion to acquire U.S. firm Slocum & Associates

first_img Share this article and your comments with peers on social media Managers with $2.3 trillion in AUM sign anti-racism pledge At closing, a significant number of Slocum’s senior management team, consultants and researchers will become shareholders in Pavilion and will maintain key leadership positions in the combined organization. The transaction represents a strategic opportunity for both Pavilion and Slocum, says Daniel Friedman, Pavilion’s president and CEO, in a statement: “The combined team will have the resources and expertise to lead the industry across a wide range of areas such as health care, insurance and retirement benefit consulting. The combined resources and research-driven knowledge will allow the advisory teams to enhance their offering to both Pavilion and Slocum clients and to expand the quality advice and solutions they are seeking.” Slocum serves a broad array of institutional clients in the U.S. and Canada, including health-care systems, endowments and foundations, retirement plans, insurance companies, religious organizations and Native American tribal communities. Slocum’s services include enterprise risk modeling, asset allocation and liability studies, risk management, manager searches, investment policy development, performance analysis and reporting, and client education. Slocum advises on approximately US$125 billion in client assets. Meanwhile, Pavilion’s consultants provide tailored advice, strategies and solutions for institutional clients in every aspect of the investing process. In addition, Pavilion offers specialized advisory services on alternative asset classes to institutional clients through Pavilion Alternatives Group, one of the largest, dedicated alternative advisory groups in North America. Upon the deal’s closing, which is expected in the coming weeks subject to several conditions, Pavilion will combine the business of Slocum with its institutional investment consulting subsidiary in the U.S., Pavilion Advisory Group Inc., and the Slocum team will operate under the Pavilion name out of its current office in Minneapolis. Jeffrey Slocum, who will be retiring from institutional consulting after a brief transition period, says in a statement that the transaction provides a defined succession plan for the business he founded in 1986: “We found Pavilion’s commitment to employee-ownership to be a very compelling feature of the transaction since it aligns consultant and client interests. Further, Pavilion’s depth of expertise, its specialized and dedicated services and its commitment to meeting or exceeding client expectations are a good fit for our clients and our team.” Photo copyright: ltphoto/123RF Winnipeg-based Pavilion Financial Corp., which offers institutional investment consulting in Canada and the U.S. through Pavilion Advisory Group, announced an agreement on Tuesday to purchase Minneapolis-based Jeffrey Slocum & Associates Inc., which also provides investment advice to institutions in the U.S. and Canada. IE Staff Facebook LinkedIn Twitter Pension managers call for strengthened ESG disclosure by companies Richardson Wealth, Bloom Burton form healthcare sector–focused alliance Related news Great-West CEO mulls bringing firm’s three units under one brand Keywords Institutional investorsCompanies Pavilion Financial Corp. last_img read more

CU Engineering professor helps lead White House climate report

first_imgPublished: Nov. 26, 2018 • By Austin Braun A major climate change report released Friday by over a dozen U.S. federal agencies outlines the potential for significant economic and environmental damages in the coming years. The report included a chapter on the potential for impacts on roads, bridges and other infrastructure.Paul Chinowsky, a co-author of that chapter, is the director of CU Boulder’s Program in Environmental Design and a professor in the Department of Civil, Environmental and Architectural Engineering. His research focuses on costs, adaptations and infrastructure impacts related to climate change.As part of the release of the report, Dr. Chinowsky was quoted in the New York Times this weekend:Nevertheless, despite the satisfaction at seeing their scientific work made public, many of the authors expressed disappointment that Mr. Trump’s strategy appears to be to ignore the findings and move forward with plans to undo climate change policies.“It’s incredibly frustrating,” said Paul Chinowsky, a professor of civil engineering at the University of Colorado, Boulder, and a co-author of the report’s chapter on the effect of climate change on roads, bridges and other infrastructure. That chapter concludes that more extreme storms, flooding and heat waves, along with rising sea levels, will damage the nation’s roadways, leading to dangerous infrastructure collapses and up to $21 billion in damage by the century’s end.“I’m watching these arguments between politicians and scientists, but I’m on the ground with public works officials who say that argument’s irrelevant,” Mr. Chinowsky said. “People are going to get hurt and die if we don’t change the policy.”Categories:FacultyTags:Blog Share Share via TwitterShare via FacebookShare via E-maillast_img read more

PM Congratulates Retired Police Officer

first_imgPM Congratulates Retired Police OfficerJIS News | Presented by: PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQualityundefinedSpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenPlay FacebookTwitterWhatsAppEmail PM Congratulates Retired Police Officer Office of the Prime MinisterDecember 23, 2015Written by: Derrick Scott RelatedPersons with Disabilities Accessing Training Through HEART/NTA RelatedPrime Minister Congratulates Miss Jamaica World Jamaican born police Sergeant in the Hartford Police Department, Andrew Lawrence, has been lauded by Prime Minister, the Most Hon. Portia Simpson Miller for his 20 years of sterling service and distinguished contribution to the police department.“I take great pride in extending my deepest congratulations to this treasured son of Jamaica. The recognition being paid to you is a tribute to your meritorious service and is a much deserved honour,” Mrs. Simpson Miller said.The Prime Minister’s message was delivered by Jamaica’s Ambassador to the United States, His Excellency Ralph Thomas, at a celebration banquet at the West Indies Social Club held recently, to honour Sergeant Lawrence.She pointed out that Sergeant Lawrence’s meteoric rise in the Hartford Police Department is a reflection of his hard work and dedication as he worked diligently in so many areas of his professional life.In recognition of his tireless efforts to community service, he was promoted to Detective and later, Sergeant, while receiving numerous other accolades as well as awards.Prime Minister Simpson Miller also commented that she was pleased to note that Sergeant Lawrence’s involvement in community development, extended outside of the Hartford area to his home country, as well as the Caribbean region.He is the founder of the Caribbean Trade Council and also Director of Public Safety for the Northeast Region of the Jamaican Diaspora Advisory Council.Just over 300 persons including Jamaica’s Ambassador to the United Nations Courtney Rattary, Jamaica’s Consul General to New York Hermon Lamont, former North-East Diaspora Board Advisory member Erwin Claire, representatives of the Hartford Police department and members of Hartford’s City Council attended the celebration and paid tribute to Sergeant Lawrence.After 20 years of service, Sergeant Lawrence has retired from the Hartford Police Department.center_img Photo: Derrick ScottJamaica’s Ambassador to the United States, His Excellency Ralph Thomas (right) reads the message from Prime Minister the Most. Hon. Portia Simpson Miller to recognize Jamaican born police Sergeant in the Hartford Police Department, Andrew Lawrence for his 20 years of sterling service to the Department. The Prime Minister’s message was delivered at a retirement celebration held recently, at the West Indies Social Club. Advertisements RelatedInsurance Companies Selected to Cover Athletes Story HighlightsJamaican born police Sergeant in the Hartford Police Department, Andrew Lawrence, has been lauded by Prime Minister, the Most Hon. Portia Simpson Miller for his 20 years of sterling service and distinguished contribution to the police department.The Prime Minister’s message was delivered by Jamaica’s Ambassador to the United States, His Excellency Ralph Thomas, at a celebration banquet at the West Indies Social Club held recently, to honour Sergeant Lawrence.She pointed out that Sergeant Lawrence’s meteoric rise in the Hartford Police Department is a reflection of his hard work and dedication as he worked diligently in so many areas of his professional life.last_img read more

Middle East operators offer a 5G reality check

first_img Tags Justin Springham m360 – MENA18 – News Previous ArticleSmart, Nokia partner on emergency response systemNext ArticleBlog: Tencent stuck in regulatory crossfire Author Huawei issues 5G rallying cry 5GM360MENA AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 26 NOV 2018 center_img Ericsson fires 5G frequency warning shot Etisalat CTO laments past industry missteps Related LIVE FROM GSMA MOBILE 360 SERIES – MENA, DUBAI: The Middle East may be tipped to play a leading role in the deployment of 5G networks, but operators from the region are not expecting to reap short-term financial rewards from rollout of the next-generation technology.In a keynote session this morning (26 November), executives from Etisalat and STC admitted that 5G remains a future proposition, despite the region making headlines this year with claims of the industry’s first global launches.“There is no consumer proposition for 5G yet,” said Hatem Dowidar, CEO of Etisalat International (pictured, second from right). “There are no consumer devices yet; in 2019 there will be very few, one or two, and not the best devices. We will have to wait until 2020-2021 for those. So don’t expect 5G to make a big impact compared to 4G: 4G is already providing fast speeds and low latency for consumer needs.”Dowidar said 5G will be of most benefit to ultra-low latency applications such as remote surgery and autonomous cars: “but these will come with time when the technology is available.”STC chief executive Nasser bin Sulaiman Al-Nasser (pictured, second from left) agreed “there is huge promise of 5G,” with “everything sensored, connected and powered by the cloud.” But, he warned, “in the next five years it’s difficult to see the return from 5G; yes it’s necessary to invest but it will take time.”Regulatory supportBoth executives and GSMA chief regulatory officer John Giusti (pictured, right) urged the region’s regulators to provide a more supportive environment for launch of 5G services.Giusti stated: “At the GSMA we will be focusing on how we can ensure we do a better job of making sure policy makers understand the business of the industry we are in and also the impact it’ll have on 5G: 5G is not a given.”“We want to give regulators and governments our message that they can influence these outcomes in different ways; you can really put yourself ahead of others with the right choices.”Al-Nasser reflected that: “It’s very challenging when there are high spectrum fees for something that will take so much time to return.”Meanwhile Etisalat’s Dowidar noted “the important element for 5G is big chunks of contiguous spectrum…It’s very important for 5G to succeed.” Subscribe to our daily newsletter Back Homem360 – MENA18 – News Middle East operators offer a 5G reality check Justin manages the editorial content for the Mobile World Live portal and award-winning Mobile World Live TV service. In the last few years Justin has launched and grown a portfolio of premier media products, which include the Mobile World Congress… Read more last_img read more