The UK could gain access to more than £38 billion in economic benefits through its UAE-backed Full Fibre roll-out, a report has shown.
The report by consultancy firm Hatch says CityFibre's continuing roll-out across the UK will bring billions into the economy over a 15-year period and support the government's nationwide levelling-up programme.
It says the initiative will unlock economic growth and reduce the digital divide in different areas of the country that currently experience vast differences in both coverage and service quality.
CityFibre is rolling out its Full Fibre infrastructure in 285 cities, towns and villages in England and Scotland.
The London-based company, which launched over a decade ago, has networks in more than 60 towns and cities.
Its full-fibre networks run fibre optic connections directly from an exchange to homes, allowing for much faster transmission speeds.
Last September, it attracted significant investment from Abu Dhabi’s Mubadala Investment Company, one of the world’s leading sovereign investors, and Interogo Holding, an investment group.
The financing, which was the largest capital raise dedicated to full fibre deployment in the UK, is supporting and accelerating CityFibre’s roll-out to a third of the UK market by 2025.
The UK's UAE embassy has welcomed the move.
“With @Mubadala support, @CityFibre, the UK's largest independent Full Fibre programme, is unlocking economic growth for communities across the UK. [UAE] investment in [the UK] is helping to boost tech innovation and will drive positive social and economic benefits in the years to come,” it tweeted.
CityFibre, the brainchild of broadband guru Greg Mesch, is now the UK’s third largest national digital infrastructure platform, behind long-established companies BT and Virgin Media.
“This report demonstrates just how powerful a tool Full Fibre is in levelling up the UK,” Greg Mesch, chief executive at CityFibre, said.
“Digital infrastructure competition is driving billions of pounds of private investment from incumbents and challengers and every pound spent is unlocking economic growth, new jobs and more efficient public services in some of the most deprived parts of the country.
“We’re delighted to see the impact of our contribution and we look forward to playing an ever-larger role in future.”
The report, “Economic Impact of Full Fibre Infrastructure from CityFibre’s Network”, commissioned by CityFibre, says productivity improvements and innovation are responsible for the largest impact, driving more than £22bn in gross value added gains nationwide.
“This is due to the positive effect that far faster and more reliable digital connectivity has been shown to have on business productivity and innovation, increasing turnover and contributing to the formation of new businesses and business models,” it said.
“The continuing transition to home and flexible working, supported by Full Fibre access at home and in the office, coupled with advances in the development of e-recruitment software, contribute to businesses being able to exercise greater choice from a larger pool of labour.”
It says the widening of the workforce is expected to unleash £4.8bn while flexible working productivity uplifts are estimated to exceed £1.2bn.
The report also identified up to £15bn added to the value of homes reached by the new networks.
The north of England is identified as the region that stands to be the biggest beneficiary of the project, with the roll-out spanning more than 100 locations across the north-east, the north-west and Yorkshire.
Hatch estimates the positive impacts on the north of the country include £8bn in productivity and innovation gains, £1.5bn from a widened workforce, £410 million in local authority efficiency savings and £4bn in increased house value.
“This report from CityFibre highlights the huge productivity boost Full Fibre can give the economy and is a critical part of levelling up, with the north of England standing to benefit the most from private led investment,” said Henri Murison, director of the Northern Powerhouse Partnership.
“It is now the role of government to make sure that any public investment maximises what can be achieved through piggybacking on these benefits derived from effective competition.”
CityFibre’s rise has been helped by the UK government’s ambition to boost the economy through superfast broadband access.
Its attraction is offering superfast broadband directly to homes and businesses, instead of using fast fibre to connect to a street’s exchange and then switching to slower copper cabling when delivering it to properties.
At present, full-fibre broadband is available in only 14 per cent of UK homes, compared with 80 per cent in countries such as Japan.
CityFibre now has network roll-outs under way that will give eight million homes, 800,000 businesses, 400,000 public sector sites and 250,000 5G mobile sites access to full fibre by 2025.
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Match statistics
Abu Dhabi Harlequins 36 Bahrain 32
Harlequins
Tries: Penalty 2, Stevenson, Teasdale, Semple
Cons: Stevenson 2
Pens: Stevenson
Bahrain
Tries: Wallace 2, Heath, Evans, Behan
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
The specs
Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel
Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power: 1877bhp
Torque: 2300Nm
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
Greatest Royal Rumble match listing
50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias
Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match
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United States Championship Jeff Hardy (champion) v Jinder Mahal
SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos
Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt
Casket match The Undertaker v Rusev
Singles match John Cena v Triple H
Cruiserweight Championship Cedric Alexander v Kalisto
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
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Mohammed bin Zayed Majlis
Brief scoreline:
Liverpool 2
Mane 51', Salah 53'
Chelsea 0
Man of the Match: Mohamed Salah (Liverpool)
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
