On October 25th, at EXPO 2020, Ericsson launched a new, end-to-end solution for Time-Critical Communication aimed at delivering consistent low latency and high reliability needed to realize a variety of use cases beyond enhanced mobile broadband services. The new solution is designed to address the need for consistent low latency and highly reliable performance which many time-critical use cases demand and deliver on the full promise of 5G.
Time-Critical Communication is a software toolbox for resolving lags and interruptions. The software product delivers consistent low latency (50ms to 1ms) end to-end (e2e) at specified guarantee levels (99.9 percent to 99.999 percent) – enabling time-critical use cases at scale. This e2e solution includes RAN, Transport, 5G Core, Management & Orchestration, BSS, and Support Services to address Time-Critical Communication needs across various industries. It will enable new use case categories, generating new business opportunities and revenue streams beyond MBB services. Ericsson is enabling Time-Critical Communication through its new Critical IoT product – easily deployable as a software upgrade on public and private 5G networks, on any 5G frequency band.
The ongoing deployments of standalone 5G networks with Massive multiple-input and multiple-output (MIMO), Quality of Service (QoS) differentiation, edge computing, and network slicing provide a solid foundation for delivering time-critical services in co-existence with mobile broadband, targeting consumer-driven innovative applications such as real-time media.
With an end-to-end solution that can consistently and reliably support time-critical applications and services, Ericsson is taking a crucial step forward to unlocking the full potential of 5G and delivering ROI for communications service providers.
Another business driver for Critical IoT is the emergence of non-public network for industrial use, which requires specific features such as integration of 5G with real-time Ethernet. So, this is the right time to think about how to evolve the different deployments for the new use cases, based on consistent (bounded) low latency and reliability to address new revenue streams.
The Ericsson e2e Critical IoT solution addresses four fundamental time-critical use case categories that are common across various verticals: real-time media, remote control, industrial control, and mobility automation. The solution also addresses three main network deployment scenarios: general public network infrastructure, dedicated network infrastructure in wide-area and dedicated network infrastructure in local-area. In addition, it addresses time-critical use cases in the wide area by adding support for Critical IoT connectivity to the NR carriers through SW upgrades.
Critical IoT is intended for time-critical applications and services that demand data delivery within a specified time duration with a certain guarantee; for example, data delivery within 50ms with 99.9 percent certainty (reliability). This is fundamentally different from enhanced mobile broadband connectivity, which maximizes data rates without any guarantee of latency. Early adoption of Ericsson’s Time-Critical Communication solution is expected for remote control and real-time media applications via public and dedicated networks.
In practical terms, where will we see C-IoT applied?
The majority of the emerging 5G applications are time-critical in nature, demanding reliable low latency connectivity. Most time-critical applications can be classified into the following four categories. Each category covers use cases with a wide range of time-critical requirements – from tens of milliseconds bounded latency down to single digit millisecond bounded latency.
Real-time media includes applications where media is produced and consumed in real-time, for example, interactive cloud gaming and cloud-based AR and VR for consumers and enterprises. Time-Critical Communication enables offloading of processing and rendering to the mobile network edge, thereby enabling the use of lightweight and cost-efficient devices (e.g., head-mounted).
Remote control refers to remote control of machines, equipment, and vehicles by people. Remote control can improve the work environment by moving humans out of inconvenient or hazardous areas and can give access to a broader workforce in offsite locations. Remote control is also an important functionality for autonomous vehicles, to take temporary control in case the autonomous function fails or requires assistance.
With Time-Critical Communication, real-time sensor information is transmitted from the teleoperated machine/vehicle to the remote operator, based on which reliable control commands are sent from the operator to the remotely controlled machine/vehicle.
Industrial control includes a broad set of use cases for industrial automation systems. For example, real-time process monitoring and control, controller-to-controller communication, smart grid control, machine vision for robotics, and motion control. Time-Critical Communication enables reliable exchange of real-time information between sensors, controllers, and actuators, which is a fundamental requirement. 5G connectivity offers great benefits in terms of mobility, flexibility, cost-cutting, and digitalization compared to wired communication that is dominant in industrial automation today.
Mobility automation refers to the automation of control loops for vehicles and mobile robots. Major applications in this category include automated guided vehicles, autonomous mobile robots, cooperative maneuvering of vehicles, critical communication for trains, and advanced intersection safety. Time-Critical Communication enables reliable real-time information exchange between moving vehicles/robots and the environment, for control and coordination.
THE BIO:
Sabri Razouk, 74
Athlete and fitness trainer
Married, father of six
Favourite exercise: Bench press
Must-eat weekly meal: Steak with beans, carrots, broccoli, crust and corn
Power drink: A glass of yoghurt
Role model: Any good man
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Our Time Has Come
Alyssa Ayres, Oxford University Press
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
About Okadoc
Date started: Okadoc, 2018
Founder/CEO: Fodhil Benturquia
Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
Funding stage: Series B fundraising round to conclude in February
Investors: Undisclosed
UAE currency: the story behind the money in your pockets
THE APPRENTICE
Director: Ali Abbasi
Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong
Rating: 3/5
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
The biog
Favourite hobby: I love to sing but I don’t get to sing as much nowadays sadly.
Favourite book: Anything by Sidney Sheldon.
Favourite movie: The Exorcist 2. It is a big thing in our family to sit around together and watch horror movies, I love watching them.
Favourite holiday destination: The favourite place I have been to is Florence, it is a beautiful city. My dream though has always been to visit Cyprus, I really want to go there.
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UAE currency: the story behind the money in your pockets
