Less than 5,000 users have managed to transfer their mobile number to another operator since the launch of mobile number portability last month.
Mohammed Al Ghanim, the director general of the Telecommunications Regulatory Authority (TRA), confirmed that 5,000 requests to transfer numbers to another network have been received since the launch of mobile number portability (MNP) on December 30.
Many but not all of the requests have been successfully completed, he said, declining to give more details.
Mr Al Ghanim said that he was satisfied with the number of people looking to transfer their numbers thus far, but admitted that it was too early to draw too many conclusions.
“It’s premature for us to judge the impact that MNP will have,” he said. “We have to give it at least a month or two before there is meaningful data.”
Mr Al Ghanim, speaking on the sidelines of an ICT workshop co-organised by the TRA and Enterprise Ireland, declined to give an indication of whether more users had opted to transfer their number from Etisalat or du.
Both Etisalat and du did not respond to requests for comments about the number of subscribers that have transferred their number to the other operator.
The relatively small number of users looking to transfer their numbers comes as no great surprise, said Matthew Reed, an analyst with Informa in Dubai.
“Mobile markets such as the UAE are dominated by prepaid subscriptions, which have traditionally been less impacted by the launch of mobile number portability,” he said.
Subscribers on monthly contracts, who are far more likely to want to transfer their number when changing operators, account for about 13 per cent of the total for the UAE at the end of September, he said.
The UAE is the last country in the GCC to offer mobile number portability. The matter had been on the TRA’s agenda for more than three years but was delayed due to a series of technical difficulties.
Bahrain, which has a similar mix of contract and prepaid subscriptions to the UAE, recorded just 10,000 successful requests to transfer a number to a different network, in the three months after introducing MNP in July 2011.
Only 59,000 Bahraini numbers, representing 2.8 per cent of the country’s total subscriber base, were ported to a different network in the 18 months after MNP was introduced.
Despite the small numbers involved, both UAE operators have not been blase about MNP, launching a range of aggressive marketing campaigns to try and attract subscribers from their rival.
“From the customer’s point of view, it is clearly better to have MNP than not,” said Mr Reed. “It removes one barrier to switching provider, and it might spur providers into improving services.”
Having launched mobile number portability, the regulator intends to address the equally pressing issue of increasing competition in the fixed line and internet segment, said Mr Al Ghanim.
“We’ve finished conducting a technical feasibility study for opening up of the fixed line market,” he said. “What’s left to do now is to finalise pricing details.”
The regulator ordered Etisalat in July to open its fixed line infrastructure up to du to enable customers to choose between the two operators, but little has been achieved since then.
Mr Al Ghanim said that the regulator hopes to make progress on the issue during this year, but would not be drawn further on timing.
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Other ways to buy used products in the UAE
UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.
Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.
Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.
For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.
Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.
At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
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.”
Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
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- Avoid leather interiors as these absorb more heat
Russia's Muslim Heartlands
Dominic Rubin, Oxford