The Dubai-listed telecoms service provider du will be a stepping stone in connecting South East Asia to Europe through the Middle East.
Du has joined 14 telecoms companies to form a consortium called the South East Asia - Middle East - Western Europe 5 (SEA-ME-WE 5).
A 20,000 kilometre undersea cable system connecting 15 countries is expected to improve the quality of data service and internet from the UAE to Europe and SouthEast Asia.
In the UAE, the cable system will touch down in Fujairah, du’s landing station. It will open to commercial traffic by 2016.
Last week, du secured a $1.17 billion loan deal for three to five years from Abu Dhabi Commercial Bank, National Bank of Abu Dhabi, Saudi Arabia’s Samba Financial Group, the UK’s Standard Chartered Bank and DBS Singapore. The money will go towards refinancing existing debt and financing equipment purchases.
“The more connected life for all residents mean that the demand for internet bandwidth and data-hungry applications is only going to grow, hence our investment in this project is part of our forward planning to remain ahead of our customers’ requirements individuals and businesses,” said Farid Faraidooni, the chief operations officer for du, who was in Kuala Lumpur, Malaysia, to sign the deal on Friday.
The SEA-ME-WE 5 network will adopt 100 gigabytes per second (Gbps) technology. When fully loaded, it is capable of carrying 24,000Gbps of capacity, about the same as transmitting 4,800 high-definition movies per second, according to du.
The participating telecoms providers include Bangladesh Submarine Cable, China Mobile International, China Telecommunications Global, China United Network Communications Group, Orange, Myanmar Post and Telecom, Telekomunikasi Indonesia International, Saudi Telecom, Singapore Telecommunications, Sri Lanka Telecom, Telekom Malaysia, Telecom Italia Sparkle, TOT of Thailand, and Yemen International Telecommunications.
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
The biog
Family: wife, four children, 11 grandchildren, 16 great-grandchildren
Reads: Newspapers, historical, religious books and biographies
Education: High school in Thatta, a city now in Pakistan
Regrets: Not completing college in Karachi when universities were shut down following protests by freedom fighters for the British to quit India
Happiness: Work on creative ideas, you will also need ideals to make people happy
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test Thursday-Monday at Colombo
- 3rd Test August 12-16 at Pallekele
Company%20Profile
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.