The world finally got a glimpse of the new BlackBerry 10 (BB10) operating system from Research In Motion tonight.
The Canadian company also revealed that it would now be known as BlackBerry as part of its comeback plan.
Dubai was one of six destinations chosen for the global launch of the new platform, and two new devices that the company hopes will save its future against rivals such as Samsung and Apple.
"This is a very significant event in the company's history,"said Robert Bose, the managing director of RIM Middle East and Africa. "What we are launching is a redesigned, reengineered platform. It really is the era of mobile computing. "We are very happy this is being done here in Dubai, it shows the significance of the Middle East to our business."
It has been one of the most highly anticipated technology launches of recent years, but it remains to be seen whether BB10 will help RIM claw back market share, especially since the Chinese telecoms vendor Huawei now claims the third spot in global smartphone sales, according to new figures from IDC.
Most analysts consider the success of BB10 to be crucial for RIM's long-term viability, although doubts remain about the ability of the new operating system to help it back from the brink, especially with fewer apps when compared with Google's Android and Apple's iOS.
RIM boasts 70,000 apps in its new BlackBerry store, but major players such as WhatsApp and Skype are currently missing, but have committed to creating an app for BB10.
"RIM is now relying on its BB10 platform, which it has developed from scratch to regain consumer confidence in its brand. The success, or otherwise, of the first device powered by the new platform will determine RIM's future," said Malik Saadi, the principal analyst at Informa Telecoms and Media.
Mr Bose described BB10 as a "reinvention of BlackBerry", with new features that include BlackBerry Flow, which make use of simple gestures to switch seamlessly between different applications instead of carrying out commands through the old menu and back buttons.
BlackBerry Messenger (BBM) has been a unique selling pointfor the company's devices, enabling users to message one another for free. But with the likes of cross-platform messaging apps such as WhatsApp and Viber now taking hold, the appeal has diminished. BBM Voice and Video, an upgraded version of the messenger that incorporates free voice and video calls, has been introduced with the new platform, although it may face restrictions in a number of markets where such services are restricted.
In the UAE, RIM is awaiting authorisation from the Telecoms Regulatory Authority for BBM Voice.
"We are working with our carrier partners to bring all the enhanced experience to users here," said Mr Bose.
The company's two new phones are the Z10, a full touchscreen device which will be available on February 10 for Dh2,599 (US$707); and the Q10, which sports the traditional qwerty keyboard and will be available in the second quarter of this year.
thamid@thenational.ae
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The specs
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 760Nm
Price: Dh898,000
On sale: now
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
SPEC SHEET
Display: 10.4-inch IPS LCD, 400 nits, toughened glass
CPU: Unisoc T610; Mali G52 GPU
Memory: 4GB
Storage: 64GB, up to 512GB microSD
Camera: 8MP rear, 5MP front
Connectivity: Wi-Fi, Bluetooth 5.0, USB-C, 3.5mm audio
Battery: 8200mAh, up to 10 hours video
Platform: Android 11
Audio: Stereo speakers, 2 mics
Durability: IP52
Biometrics: Face unlock
Price: Dh849
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.”
