5g

The Evolution of Mobile Networks in the Era of 5G

By Mohammed Al-Moneer, Regional Vice President, MENA at A10 Networks

Fifth generation networks, just like the preceding 4G LTE and WiMAX networks, are expected to greatly increase available bandwidth, with improved end-to-end performance providing a better end-user experience. In the most basic of terms, 4G LTE was the long-term evolution of Radio Access Networks (RAN); 5G is the next iteration.

Wireless carriers have invested billions into their networks to support the ongoing demand for faster network speeds. They must look for ways to increase revenue while delivering more value to the end user. This continues to drive new devices into the hands of the consumer. The demand for increased efficiencies, bandwidth, and coverage has pushed carriers towards a decentralised deployment model.

Network Virtualisation Remains in The Early Stages

Service providers monitor and review technology for advancements that will help deliver faster and less expensive networks. Recently, they have looked into areas of Network Function Virtualisation (NFV) and automation to support their advancements. Mobile network operators are investing heavily in reducing delays and errors through repetitive processes as they build and add capacity to existing 4G networks.

Virtualisation and Software Defined Networks (SDN) improvements are driving a shift from hardware to software. SDN is promising, but it’s not an instant solution, as purpose-built hardware still remains the preferred choice. NFV and SDN have offered service providers an alternative to existing methods, including dedicated appliances sitting idle. However, it’s safe to say that the age of virtualisation remains in the early stages.

Hardware manufacturers and service providers are now betting on the acceptance and success of virtualised functions. Software development continues at breakneck speed to meet timelines and demands for more integrated solutions, which easily scale and reduce operational overheads at the same time.

The 5G Revenue Opportunity

5G’s impact is expected to extend beyond the typical mobile network carriers/operators. It promises to enable increased connectivity and flexibility, that will drive additional functions throughout all supportive components of a mobile carrier’s network.

RAN access providers face the question of how to support the ever-increasing appetite for cutting the cord. How can we use our mobile devices in more ways than previously thought, as the end user goes about their daily tasks? This mobility, whether it’s tied to a carrier’s technology or even a simple Wi-Fi home network, reaches all corners of our day-to-day life.

This reach extends from the cloud to the data centre environments and continues to drive capacity needs, supported by both legacy appliances and the ever-increasing virtual environments. This continued appetite for consumption has opened up opportunities for all facets of technology and associated vendors.


5G Mobile Network Evolution

The continued expansion of 5G networks will have a revolutionary impact upon every mobile subscriber and business in the world.

The fundamental market forces of network evolution are not based on wired or wireless infrastructure. Companies are currently focused on upgrading existing mobile networks. Whereas at the exact same time, NFV, SDN and the global IoT industry are all preparing to utilise the next generation of mobile networks.

Software solutions are easier to move from concept to production and frequently offer a lower up-front investment cost. This all adds up to help drive increased functionality for all service providers, including the wired infrastructure.

5G and IoT will be demand-driven. As a result, the more the infrastructure expands to meet that demand, the more opportunities will be uncovered. It’s a positive feedback loop that will revolutionise how we think of the internet.

Get ready for a world that will be changed forever with the next generation mobile networks on the horizon.

nutanix

With Security and Flexibility Top of Mind, Financial Companies Embrace Hybrid Cloud

Nutanix, a leader in enterprise cloud computing, today announced the financial services industry findings of its second Enterprise Cloud Index Report, measuring financial firms’ plans for adopting private, public and hybrid clouds. The report found the financial sector outpaces all other industries in hybrid cloud deployments – hosting workloads in both private and public cloud – but trail others in their use of multiple public cloud services.

Most financial services companies must adhere to strict regulatory requirements and government mandates. Not surprisingly, 60% of respondents called out security as the single biggest influence on future cloud strategies. Additionally, because so many organizations struggle to migrate workloads between environments, financial services companies have the highest percentage of traditional data centers (59%) delivering key applications. Yet, in the face of digital transformation, the sector faces mounting pressure to modernize IT and to make services more convenient for end-users. Together, this explains why nearly 18% of financial companies have deployed hybrid cloud today, while 51% plan to shift investment to hybrid cloud in just three to five years.

 

Additional findings of this year’s report include:

  • Flexibility to move applications as needed is critical. Nearly three-quarters of financial companies surveyed (71%) shared their plans to move one or more applications running in a public cloud back on-premises. In the financial services industry, regulatory requirements are constantly evolving, meaning companies must keep pace with changing regulations that govern where these companies can store and manage their data. Respondents also ranked hybrid cloud as the most secure IT operating model (27% of the time) signaling the importance of flexibility, alongside security, in this ever changing environment.
  • The future of work and digital transformation plays a role in the financial sectors’ infrastructure decisions. Financial services selected “support for remote/branch office users” as a motivator for cloud decisions nearly 30% of the time, a significantly higher percentage than cross-industry averages, pointing to the increasingly remote workplace landscape and the role of digital transformation in customer experience. In the short term, respondents listed lack of adoption stemming from concerns around nascent tools for managing hybrid environments (66%), a lack of hybrid cloud skills (30%) and a lack of cloud-native development skills (23%).
  • Security is paramount for compliance and regulation. Data showed that financial companies are running the highest percentage of data centers today, with just over 59% of financial companies. Accounting in part for this trend is dissatisfaction with public cloud, with only 39% of financial services companies reporting public cloud services were completely meeting their expectations.

 

“The financial sector’s digital transformation is aggressively driving datacenter modernization and cloud adoption,” said Greg Smith, VP of Product Marketing at Nutanix. “Ambitious, but necessary, plans to shift investment to hybrid clouds clearly demonstrate that financial companies recognize the obvious benefits. With hybrid cloud infrastructure, financial companies can enjoy application mobility across clouds and gain greater control of their IT spend, while remaining confident in the security of their data.”

The 2019 respondent base spanned multiple industries, business sizes, and the following geographies: the Americas; Europe, the Middle East, and Africa (EMEA); and the Asia-Pacific (APJ) region.

To learn more about the global report and findings, please download the “Nutanix Enterprise Cloud Index 2019 or register to access the financial services industry findings.”

fusion

Kodak Alaris Partners with ibml to Offer World’s Fastest, Ultra-High-Volume, Intelligent Scanner

Kodak Alaris is partnering with Imaging Business Machines, LLC (ibml) to deliver the next generation of ultra-high-volume scanners to the Europe, Middle East and Africa (EMEA) market. With the recent launch of ibml FUSiON Scanners, and as ibml’s lead distribution partner in the region, Kodak Alaris is uniquely positioned to serve a market demanding smart solutions that deliver business process automation at higher speeds than ever before.

Gerry Kelliher, EMEA Managing Director, Kodak Alaris said, “Our partnership with ibml goes back nearly a decade and a half. The company’s world class solutions perfectly complement Kodak Alaris’ portfolio, allowing us to provide ultra-high-speed intelligent capture solutions to our customers. Our team has had great success delivering ibml solutions, where we are able to offer a range of maintenance options and professional services as part of an implementation. We are excited about the launch of the ibml Fusion series scanners, which will be a game-changer that speeds up digital transformation for enterprises in the region.”

The new ibml FUSiON Series ignites the fusion of disparate capture processes into one streamlined solution, using in-line intelligence at blazing fast throughput speeds up to 730 A4 pages per minute and 938 checks per minute. As the world’s fastest, intelligent, scalable document capture platform, ibml FUSiON accelerates customers’ mission-critical applications by extracting information from documents to digital processes, thus enabling digital transformation. 

In a survey by the Association for Intelligent Information Management (AIIM), 62 percent of organizations said they, “are committed to digital transformation.” Paper documents remain a large source of business input for organizations. Ever-increasing data volumes demand exponentially faster processing and ways to eliminate tedious and unnecessary pre-scan and post-scan labor, which eats 76 percent of total capture costs and majorly drains operational efficiency[1]. ibml’s FUSiON brings previously uncontrolled information under control.

“For nearly three decades, the world’s largest organizations in the most data-rich environments such as banking, government and BPOs have trusted ibml to overcome their core information management challenges,” said ibml President and CEO Martin Birch. “Using industry-leading intelligence and accelerated speeds, we extract actionable data, capture insights and expedite critical decision-making for our customers located in over 48 countries. With the ibml FUSiON, shifting to one infrastructure for all capture needs allows organizations to radically reduce real estate, labor and maintenance costs while pushing productivity forward. ibml FUSiON is poised to truly transform those industries with the most demanding document capture needs of today and tomorrow, empowering their digital transformation, while reducing costs.” 

ibml FUSiON Series sets new benchmarks for high-volume intelligent capture. Every part of the capture process is done smarter – from feeding to exception handling to automated sorting. With all this added intellect, employees are free to focus on other important tasks. The product has the fastest throughput in its class. It is 67 percent faster than its predecessor and allows customers to do mission-critical jobs in tight timelines and handle greater volume, driving better productivity and lowering costs. It features optimized usability and improved service accessibility with a sleek, ergonomic body design that’s engineered to last decades. Intuitive controls deliver a better operator experience—reducing training and increasing overall productivity.

“ibml FUSiON was developed with our customers, based on a deep understanding of their pain points with different devices they use for high-volume document capture,” said ibml Vice President of Engineering Pete Rudak. “We then applied the right technology and innovation to solve those problems, and the result is ibml FUSiON, a comprehensive solution that combines a sleek modern design with the fastest speed, the highest image quality and the intelligence everyone expects from ibml.”

For more information, please visit the Kodak Alaris website.

[1] The Total Cost of Scanning: A Framework for Analysis and Improvement, ECM Connection.

Fadi Matta

Mindware Signs Distribution Agreement with ESET in Saudi Arabia

Mindware, one of the leading Value Added Distributors (VADs) in the Middle East and Africa, has announced that it has signed a distribution agreement with ESET, a global leader in information security software.

As per the agreement, Mindware will offer the entire suite of ESET business products, including two-factor authentication, endpoint protection, endpoint encryption, endpoint detection and response among others. The distributor will target enterprise customers, small and medium businesses (SMBs) and government organizations in the Kingdom of Saudi Arabia through its expansive channel network.

Speaking about the partnership, Fadi Matta, General Manager at Mindware Saudi Arabia said, “Saudi Vision 2030 outlines that ‘a sophisticated digital infrastructure is integral to today’s advanced industrial activities’. In line with this vision, the government is looking to develop the ICT infrastructure in the Kingdom in conjunction with the private sector. As many digital transformation projects get underway, there is increasing awareness of the criticality in protecting digital infrastructure. A cyber risk is a business risk. Today cyber-attacks have evolved to unprecedented forms, putting businesses at unprecedented risks.”

“Against this scenario, Mindware is building out its security practice and portfolio. The intention is to help organizations in Saudi develop robust security postures as they undergo digital transformation. ESET is an award-winning security vendor that develops industry-leading IT security software and services. We believe that the vendor will add considerable value to our portfolio, and we see great potential for uptake of the company’s solutions, particularly its data loss prevention (DLP) and endpoint protection products.”  

For three decades, ESET has been helping organizations protect their digital infrastructures. Today the company has a user base of over 110 million in 202 countries. ESET products unobtrusively protect and monitor 24/7, updating defenses in real time to keep businesses safe and running without interruption. Backed by R&D centres worldwide, ESET is the first IT security company to earn 100 Virus Bulletin VB100 awards, identifying every single “in-the-wild” malware without interruption since 2003.

As part of the ramping up process, ESET will conduct sales and pre-sales workshops and provide training and certification to Mindware’s designated engineers. Mindware on the other hand will focus on driving ESET’s business by reaching out to existing partners as well as onboarding new partners. The distributor will provide knowledge transfer to partners through regular technical enablement sessions. It will also assist partners with potential business leads by helping them conduct proof-of-concepts (POCs).

Mindware and ESET will jointly conduct marketing activities that include events, promotions, traditional and digital advertising campaigns and much more.

“We are extremely excited about our partnership with Mindware in Saudi Arabia. The distributor with its extensive channel network of over 2000 partners will provide us additional depth to expand our market share in the Kingdom. A highly competent technical team from Mindware will be a great value to our offerings and enable us to jointly deliver ESET’s next-generation security solutions to businesses in the country,” concluded Husni Hammoud, Managing Director at ESET Middle East.

 

Featured image: Fadi Matta, General Manager at Mindware Saudi Arabia

Dubai expo

Over Half Of Dubai Businesses Are Looking Forward To An Increase In Commercial Activity In 2020

According to the Dubai Economy, more companies expect better business conditions and an increase in commercial activity due to the Dubai Expo 2020.

60% of companies in Dubai, UAE, are optimistic about better business conditions during 2020, in comparison to the 58% last quarter.

Business owners were less optimistic in 2019, particularly towards the end, with 19% of businesses rating their performance as below standards due to a lag in consumer spending and activity which deteriorated for the first time in ten years.

As a result of this, job numbers significantly fell, with the decline noted by economist David Owens as “one of the quickest recorded.”  

Additionally, ambiguity surrounding the US-China trade war also had an effect on entrepreneur sentiments.

However, despite this decline in business activity and optimism, companies in Dubai are now looking forward to the Expo 2020. Opening in October 2020, businesses are counting on the event to unlock future commercial opportunities.

Of the businesses surveyed by the Dubai economy, 56% said they expect a rise in commercial activity as a result of the Expo, 20% expect improvement in business or market conditions and 14% expect “visitor activity” to increase.

In relation to this, a spokesperson for the Dubai economy has stated that: “Improving domestic market conditions and strong prospects for international reach has seen businesses in Dubai welcoming 2020 with optimism.”

Mind Ware

Mindware Partners with Mist Systems to Distribute Industry’s First AI-Driven Wireless in Middle East and North Africa

Mindware, one of the leading Value Added Distributors (VADs) in the Middle East and Africa, today announced that it has signed a distribution agreement with Mist Systems, a Juniper company that is a pioneer in cloud-managed wireless networks powered by Artificial Intelligence (AI). As per the agreement, Mindware will offer Mist’s entire portfolio of solutions to enterprises across Middle East and North Africa (MENA) including the GCC countries, Afghanistan, Algeria, Egypt, Iraq, Jordan, Lebanon, Libya, Morocco, Pakistan, Tunisia and Yemen. Mindware will extend and enable the vendor’s regional channel, while also providing value-added services for support, implementation, training and business development.

The agreement marks a significant extension of Mindware’s long-standing partnership with Juniper Networks which spans over a decade. Having established proven expertise as a value-added distributor for Juniper Networks’ best-in-class wired LAN, SD-WAN and security solutions, Mindware is now ready to round out its portfolio by extending this competency into the wireless domain.

“Wi-Fi is the platform on which innovations in IoT, collaboration, workforce enablement, customer experience and a host of services essential to today’s customers and employees are dependent. Through our partnership with Mist, we are improving the reliability, predictability and measurability of Wi-Fi, while introducing unmatched convenience and simplicity through the intuitive and scalable cloud-management layer,” said Mr. Nicholas Argyrides, General Manager – Gulf at Mindware.

Mist has been first to market with an AI-driven wireless platform that includes the world’s first virtual IT assistant. In addition, Mist is the first vendor to bring enterprise-grade Wi-Fi, BLE and IoT together to deliver personalized, location-based wireless services without requiring battery-powered beacons. All operations are managed via Mist’s modern cloud architecture for maximum scalability, agility and performance. As a result, Mist is quickly becoming the WLAN standard for enterprise customers across numerous industries and Mindware intends to first capitalize on the growing demand for intelligent Wi-Fi solutions in the retail, education and healthcare sectors.

“We have built up the expertise and manpower to fully support this innovative vendor and are excited to introduce their exciting solutions to our wide base of regional businesses and the channel,” Mr. Argyrides added. As Mist’s value added distributor, Mindware will provide technical support, warehousing and logistics and financial services. The value-added distributor is set to partner with Mist in co-hosting a series of channel enablement roadshows, as well as trainings and certifications in the UAE, Saudi Arabia and broader GCC region through 2020. Mindware is also ramping up its service capabilities as it prepares to offer Professional Services on behalf of the vendor in the course of the year.

Commenting on the partnership, Yarob Sakhnini, Vice President, Emerging Markets, EMEA at Juniper Networks said, “The combination of our advanced WLAN platform with Mindware’s proven expertise and well-established channel community will act as a force multiplier to accelerate the adoption of AI-driven wireless in the region. We are confident that with the full support of Mindware’s team, the value and quality of the Mist portfolio will be maintained and enhanced through every stage and phase of delivery, so end-customers can realise the full potential of our industry leading solutions.”

HUAWEI

The Wait Is Over; HUAWEI MateBook D Series Pre-Booking in Saudi Arabia Is ready to kick off

With The Smart Connectivity, Fingerprint Login, and Huawei Share; Every Ground-Breaking Innovation Was Conceived to Bring You Better Experience.

 Huawei Tech Investment Saudi Arabia Company announced the kick-off the pre-booking phase for their innovative HUAWEI MateBook D Series which is now open. 

The new Huawei laptop series introduces a revolutionary cross-platform experience that allows users to seamlessly work with multiple devices through a single pane of glass.

 

Huawei Share

The latest HUAWEI MateBook D Series comes with a range of new features including support for Huawei Share Equipped with a full array of smart capabilities, the HUAWEI MateBook D Series stands as a powerful companion to today’s tech-savvy youth. The new Huawei Share feature allow users to project their smartphone display to a PC and control both devices simultaneously. Once the connection is established, users may drag and drop files across the systems to seamlessly transfer files and operate mobile apps directly on the PC – including editing documents.

 

Slim and Portable

The HUAWEI MateBook D Series is designed for young consumers. Its aesthetics reflect the characteristics of its target audience, the curvy, streamlined design endows it with a stylish and unique aesthetic identity. Compared to the rounded design of its predecessors, the new HUAWEI MateBook D Series has a bolder and sleeker design. The enhancements made to the small details – such as the thinner bezels and recessed camera – allow Huawei to further shrink the form factor of the laptops, further improving their portability.

Packing a FullView Display into an Ultra-slim laptop is difficult. Starting from the development of the first generation of HUAWEI MateBook, Huawei’s R&D team has been trying to solve the dilemma between size and weight. With size comes a better viewing experience, but often it comes at an expense of portability. 

 

Fingerprint Power Button

HUAWEI MateBook is the first Windows PC to feature a fingerprint sensor for user login. It is equipped with the fingerprint scanner. It is integrated into the power button, so users can power on their device while simultaneously having their identity authenticated. This means users don’t have to scan their fingerprint or input their password at the login screen to unlock their device. Using this scanner, users can get to Desktop immediately. The fingerprint scanner in HUAWEI MateBook D supports sensitivity much greater than the average. The scanner improves recognition consistency with use – the more it is used, the more consistent it becomes.

 

Availability and price:

The HUAWEI Matebook D Series is available for pre-order starting from February 6th till the 13th  of February 2020 at the price of 2,499 SAR  for the HUAWEI MateBook D 14 and 2,699 SAR for HUAWEI MateBook D 15 with valuable gifts (limited quantity) including HUAWEI WATCH GT,  12000mAh 40W SuperCharge Power Bank, HUAWEI Bluetooth Mouse and HUAWEI Backpack (during the pre-order period only) at the Huawei Flagship Store in Riyadh Park, Huawei E-shop, and several authorized retailers in Saudi Arabia.

Bahrain

Weak December Performance Caps Dreary Year for MENA Hotels

Profit was hampered by a weak top line that saw RevPAR down 7.4% YOY, pulled down by a 9.9% YOY decrease in average rate, even amid a 1.9-percentage-point uptick in occupancy.

A tough year for Middle East & North Africa hoteliers mercifully came to an end in December, a month that didn’t help their overall yearly results. Profit per available room was down 5.4% year-over-year, negatively contributing to an overall 9.3% YOY GOPPAR drop for the year, according to data from HotStats.

Profit was hampered by a weak top line that saw RevPAR down 7.4% YOY, pulled down by a 9.9% YOY decrease in average rate, even amid a 1.9-percentage-point uptick in occupancy. Decreases that also occurred in the F&B department brought total revenue down 6.5% compared to the same time the year prior.

 

The month’s drop in profit was almost entirely a result of weakened revenue, as expenses were kept in check and, in some cases, came down. Total costs among the undistributed departments decreased, among them, Sales & Marketing (-6.5%), Information & Technology (-19.3%) and Property & Maintenance (-8.7%), which included an 11.0% YOY drop in utilities. Total expenses on a per-occupied-room basis were down 9.7% YOY for the month, while total payroll on a per-available-room basis was down 7.3% YOY.

Still, hoteliers couldn’t overcome the difficult revenue predicament, which not even expense containment could help, ultimately leading to a profit drop.

Hoteliers can take some solace in profit margin, which was up 0.5 percentage points to 41.0%.

 

Profit & Loss Performance Indicators – Total MENA (in USD)

KPI

December 2019 v. December2018

RevPAR

-7.4% to $126.70

TRevPAR

-6.5% to $221.99

Payroll

-7.3% to $53.30

GOPPAR

-5.4% to $91.07

Bahrain stood witness to a year of violent swings on both the revenue and expense side of the coin. While RevPAR for the month was down 1.4% YOY, and TRevPAR was actually up 0.2%, GOPPAR was down a staggering 20.6% YOY. For the year, GOPPAR was down 3.2% YOY.

The story in December was expense. Costs were up across the undistributed departments, including Property & Maintenance (up 27.5%) and a 23.2% jump in utility expenses. Total overhead costs were up 18.5% YOY. Meanwhile, total labour costs were actually down 3.3% YOY on a per-available-room basis.

Profit margin for the month was down 4.9 percentage points to just 19%.

 

Profit & Loss Performance Indicators – Bahrain (in USD)

KPI

December 2019 v. December 2018

RevPAR

-1.4% to $89.67

TRevPAR

+0.2% to $177.87

Payroll

-3.3% to $59.48

GOPPAR

-20.6% to $33.75

Hotel performance in December in Dubai mimicked the greater MENA region. The emirate took a hit on both the top line and bottom line, evidenced by an 8.9% YOY decline in RevPAR, which was heavily impacted by a 9.8% YOY drop in average rate, despite a 0.7-percentage-point increase in occupancy.

Total revenue was down 8.5% YOY and 13.6% for the year.

The precipitous drop in revenue carried through to profit. GOPPAR was down 9.4% YOY (18.6% for the year), dragged down further by an 8.0% YOY decrease in total expenses on a per-occupied-room basis.

The drop was even more striking considering that expenses on a whole were also down in December. Total expenses on a per-occupied-room basis were down 8% YOY, while payroll on a per-available-room basis was down 8.3%. Total utilities were also down to the tune of 14.7% YOY.

Profit margin was down 0.4 percentage points to 47.3%.

 

Profit & Loss Performance Indicators – Dubai (in USD)

KPI

December 2019 v. December 2018

RevPAR

-8.9% to $189.42

TRevPAR

-8.5% to $318.65

Payroll

-8.3% to $64.43

GOPPAR

-9.4% to $150.61

Saudi Arabia

Saudi-Based Startups Draw Record Number Of Deals In 2019

Proving an outstanding year for entrepreneurship, 2019 saw Saudi Arabia’s startups attract $67 million worth of investments, a new report shows. This is an increase of 35 percent from 2018.

Last year also saw 71 investment deals, which is a staggering rise of 92 percent since 2018, and a record number in comparison to any other year, according to startup platform MAGNITT.

Additionally, there was an increase of 58 percent in institutional investors in startups based in the kingdom to a total of 41 institutions. Around one-third of these institutions were based outside Saudi, mainly in the UAE.

MAGNiTT’s Founder and CEO, Philip Bahoshy said: “There are several factors that contribute to the growth of the Saudi startup ecosystem in general: the size of its economy and population, as well as a high income per capita and internet penetration.

“This, combined with the increased government focus on the entrepreneurship sector through Funds of Funds, capital matching programs, accelerator programs, licensing schemes and other initiatives, contribute to the growth of the startup sector as a whole.”

This increase in business deals and capital funding in Saudi Arabia has placed it at the third highest spot for both categories in the MENA region, following UAE and Egypt.

The kingdom accounted for 12 percent of the total deals in the region, and 9 percent of the total funding.

Bank of Nigeria

Access confirmed for over 132,000 Nigerian bankers to CISI’s global professional development program

The significance of the Chartered Institute for Securities & Investment’s (CISI) global professional development programme in Nigeria has been officially recognised by the Chartered Institute of Bankers of Nigeria’s (CIBN) accreditation of CISI as an Educational Service Training Provider (ESTP).

The important accreditation means that CISI’s exemplary Continuing Professional Development (CPD) online learning programme can count towards CIBN members’ annual CPD requirements. The deal also means that CIBN members can study for CISI’s suite of global qualifications in the knowledge that they have CIBN’s endorsement. Some of the qualifications promoted under the partnership with CIBN include:

– International Certificate in Wealth Management (ICWIM)
– Risk in Financial Services
– Global Financial Compliance

With a history dating back to 1963, the CIBN’s vision is to be a global reference point for professionalism and ethics in the banking and finance profession in Nigeria.

With over 45,000 members in 100 countries, CISI’s 40,000 qualifications and exams are recognised by 60 global financial services regulators. The CISI’s global qualifications programme encompasses the professional financial services sectors of wealth management, financial planning and capital markets, offering an accessible study pathway for those looking to get into or develop their careers in the dynamic global financial services profession.

The CISI’s CPD digital platform contains over 180 e-learning modules, or “Professional Refreshers”, 500 videos on the CISI TV channel and 1,300 articles in the exclusive CISI member magazine The Review.

Praneet Shivaprasad, CISI Senior International Manager said: “We are honoured and excited to achieve this important accreditation from the CIBN, which has a critical role in capacity building and the promotion of ethics and professionalism in the Nigerian financial services sector. Our global qualifications and CPD e-learning programme will provide CIBN members with an opportunity to complement their excellent CIBN training and qualifications with our own CPD programme to help ensure their learning is relevant and up to date to meet the needs of our fast-moving, competitive, global capital markets.”

The CISI has been working in Nigeria for over four years and has agreements with a number of prestigious Nigerian institutions, in addition to the CIBN, including the Chartered Institute of Stockbrokers (CIS). Its agreement with the African Securities Exchange Association (ASEAN) has allowed it to develop a close relationship with the Nigerian Stock Exchange (NSE), who’s Chief Executive Oscar Onyema is a CISI member.

For further information on the CISI CPD programme contact [email protected]

Dubai real estate

Dubai Real Estate Deals Hit 11-Year High In 2019

Dubai registered a total of 41,988 real estate transactions in 2019, marking the highest number of sales transactions registered annually in Dubai since 2008, said Property Finder, a leading property portal in Mena.

The number of property deals during 2019 also marks a growth of 20 per cent in the volume of registered property sales transactions compared to 34,961 transactions in 2018, according to Data Finder, the real estate insights and data platform under the Property Finder Group.

There were 11,662 property sales transactions registered in Dubai in 2008. The Dubai real estate market has, therefore, grown by 260 per cent in the past 11 years in terms of the volume of transactions. The second highest number of property sales transactions registered in Dubai since 2008 was in 2017 (40,649).
This news comes on the heels of recent reports about the Dubai property market regaining momentum, especially after the announcement of the formation of the Higher Real Estate Committee to rebalance supply and demand, back in September 2019. The committee helped inspire market confidence, with both October and November 2019 seeing record number of transactions – 4,774 and 5,037, respectively.

December 2019 clocked in 2,989 registered property sales transactions. Other good months for property sales in Dubai last year were July (4,234), September (4,007) and May (3,512).

“Going into 2020 and leading up to the Expo, we should continue to see transaction levels increase and prices start to stabilise in certain areas. We have already started to see certain market dynamics shift as a direct effect from Expo and these trends will most likely continue throughout the year,” said Lynnette Abad, director of Data and Research, Property Finder.

Off-plan vs secondary transactions

There continues to be a preference for off-plan properties, with this asset class accounting for an overall 23,643 transactions in 2019. This could be because of attractive prices and incentives offered by developers such as a waiver of service fees, a wide range of post-handover payment plans, discount on registration charges and commissions, guaranteed rental returns, among others. However, new off-plan launches were considerably down from their 2017 and 2018 levels.

With several potential buyers still unable to afford the down payment stipulated by the UAE Central Bank to qualify for a mortgage, purchasers are increasingly opting for developer-sponsored payment plans to fund their off-plan properties. This has resulted in several first-time homebuyers getting on the property ladder.

Dubai registered 18,345 transactions in the secondary market last year. With new homes becoming completed thick and fast, developers are forced to come up with rent-to-own schemes and other initiatives to make sure that they are not left with unsold, ready units. This makes it a perfect buyer’s market, with attractive prices, good deals and plenty of options to choose from. However, in such schemes, the price of a property is typically higher than a comparable property currently on the market.

As per Data Finder project and supply data, there were over 45,000 units completed in 2019 which was the highest amount of units completed in one year over the last five years.

Meanwhile, the top 5 areas which witnessed the highest overall property sales transactions in 2019 were Business Bay (3,146), Downtown Burj Khalifa (2,816), Dubai Creek Harbour (2,492), Dubai Hills Estate (2,373) and Dubai South (2,048).

For off-plan sales, the top 5 performing areas in Dubai were Dubai Creek Harbour (2,423 transactions), Downtown (2,088), Dubai Hills Estate (1,949), Dubai South (1,942) and Business Bay (1,811).

On the secondary market, areas that witnessed the most sales were International City (1,342), Business Bay (1,335), Dubai Marina (1,280), Jumeirah Village Circle (1,108) and Jumeirah Lakes Towers (851).

Saudi Arabia

Saudi Arabia Launches Third Round Of National Renewable Energy Program

Saudi Arabia has launched the third round of its national program to build up solar power generation capacity in the Kingdom.

The Renewable Energy Project Development Office (REPDO) of the Ministry of Energy has issued the request for qualifications (RFQ) for Round Three of the Kingdom’s National Renewable Energy Program (NREP), the official Saudi Press Agency (SPA) said on Thursday.

The new phase comprises of four solar photovoltaic (PV) projects with a combined generation capacity of 1,200 megawatts (MW). The RFQ window for round three closes on February 6, 2020.

The statement said the third round would be divided into two categories – Category A targets smaller companies, and includes the 80 MW Layla and the 120 MW Wadi Al Dawaser solar PV projects while Category B includes the 300 MW Saad and 700 MW Ar Rass solar PV projects.

Projects within round three will carry a minimum requirement of 17 percent local content in order to increase the value-added contribution of products and services in the national economy, the statement quoted REPDO head Faisal Alyemni as saying.

In 2017, REPDO had tendered the first round which included the 300 MW Sakaka solar PV and the 400 MW Dumat Al Jandal wind power projects.

In July 2019, REPDO launched Round Two of the NREP which comprised of six solar PV projects totaling 1,470 MW. The deadline for receiving proposals is 20 January for Round Two projects and 3 February for Categories B and A.