TOP STORIES FROM THE GCC

Why the UAE is closer to rolling out 6G

Using a 6G mobile network could be just a matter of years away as UAE mobile network provider, etisalat by e&, has announced plans to unveil what is regarded as the one of the final versions of 5G in the country.

This is according to a white paper that has just been published this week by etisalat by e& entitled “5G-Advanced: The Future of Wireless Communications in the UAE”. The telecoms player says it plans to launch 5G-Advanced in the Emirates in 2025/26 and this will specifically consist of version 18 and 19 of 5G. READ MORE

WATCH: Saxo Bank CIO on global risks, opportunities in 2024

By how much will the US Federal Reserve actually lower rates in 2024? And where will the safe havens be for investors looking to navigate these challenging times?

These are all interesting questions to ask as we kick off the year, and who better to ask about these burning topics than the Chief Investment Officer (CIO) of Saxo Bank, Steen Jakobsen. At Gulf Business, we had the privilege of hosting Jakobsen at our studios in Dubai while he was on one of his business trips to the UAE.

And in this wide-ranging interview, Jakobsen told us about some of the key risks facing the global economy in 2024. READ MORE

BMW Middle East’s managing director tells Gulf Business that the German brand is exploring alternative powertrains and fuels to accelerate transition to emission-free mobility. ?BMW is diligently preparing for the series production of vehicles with hydrogen drive systems, including the BMW iX5 Hydrogen.

This model is currently in the pilot phase, used primarily to demonstrate and improve fuel cell technology. Full-scale production and availability of this vehicle for customers are contingent upon several factors. READ MORE

See inside Dubai’s Dhs600m penthouse, along with ‘Hay Room’

Emerald Palace Group (EPG), which owns the luxurious Raffles The Palm Dubai, has announced the development’s Super Penthouse R1, is up for grabs for a whopping Dhs600m or $163m. The size and the cost make it the largest private residence in the history of the city. In fact, it is even bigger than the White House, home to the US President.

The property comprises of the top three levels and rooftop of the majestic Raffles The Palm Dubai Residences. The developer promises the plush penthouse will “redefine the pinnacle of luxury living at one of the most coveted locations in Dubai”. VIEW PHOTOS

Beating back Januworry: 9 ways to start saving money now

The UAE has the sixth-largest number of migrants in the world. A staggering 88 percent of its 10 million people are international migrants, according to Human Rights Watch. These expatriate workers in the UAE contributed to their home countries more than $47.5bn in 2021, making the UAE the second biggest source of remittances in the world, notes the ILO.

Tying in with this statistic is a survey conducted in 2022 by insurance company Friends Provident International which found that retiring early remains out of reach for many in the workforce, with 45 per cent of residents saying they had not yet started saving for their golden years. READ MORE

For more such stories and insights, visit GulfBusiness.com