5G in the UAE - GN Business - video Dailymotion

The UAE is working on completing the necessary infrastructure to Launch 5G by 2020. See more at: http://gulfnews.com/videos

Transcript

00:00Hello and welcome to gulf news daily business wrap-up. This is Sudesh and I'll

00:04take you to the stories that are making headlines today. This week is busy in

00:08terms of conferences so today we had the international telecommunication

00:12conference for 2018 and UAE is been trying to put infrastructure in place to

00:18roll out 5G by 2020. UAE will be one of the few countries that will be

00:23implementing this technology of the fast speed network. In other news tomorrow

00:28will be the first day of the global Islamic economic summit which will

00:33basically discuss about the innovation and sustainability in the Islamic

00:37economy. The Islamic economy is pretty big in terms of numbers 2.1 trillion

00:42dollar worth of market in 2017 as far as lifestyle is concerned. In other news

00:46Saudi Arabia has been benefiting from high oil prices. Remember there has been

00:51many fold jump in oil prices which has impacted the economy positively. Consumer

00:56spending is up, balance sheets are looking good. In the third quarter of

00:592018 consumer spending rose by 9% much more than what was expected.

01:04Remember we had a weak first half as far as consumer spending went. In other

01:09international news IBM decided to buy Red Hat a cloud computing company for

01:1537 billion dollars. It's a premium of about $80 per share of Red Hat. Remember

01:21last week Red Hat shares closed at about $116 per share and IBM will offer

01:29shareholders about $190 per share. On that exciting note this is the end of

01:34daily wrap-up. Thanks for watching.