Singapore markets closed
  • Straits Times Index

    2,537.39
    +8.98 (+0.36%)
     
  • Nikkei

    23,516.59
    +42.32 (+0.18%)
     
  • Hang Seng

    24,918.78
    +132.65 (+0.54%)
     
  • FTSE 100

    5,860.28
    +74.63 (+1.29%)
     
  • BTC-USD

    12,899.73
    -5.25 (-0.04%)
     
  • CMC Crypto 200

    259.63
    -1.82 (-0.70%)
     
  • S&P 500

    3,465.39
    +11.90 (+0.34%)
     
  • Dow

    28,335.57
    -28.09 (-0.10%)
     
  • Nasdaq

    11,548.28
    +42.28 (+0.37%)
     
  • Gold

    1,903.40
    -1.20 (-0.06%)
     
  • Crude Oil

    39.78
    -0.86 (-2.12%)
     
  • 10-Yr Bond

    0.8410
    -0.0070 (-0.83%)
     
  • FTSE Bursa Malaysia

    1,494.64
    -4.16 (-0.28%)
     
  • Jakarta Composite Index

    5,112.19
    +20.37 (+0.40%)
     
  • PSE Index

    6,484.06
    +139.43 (+2.20%)
     

EU looks to fast 5G, supercomputers to boost virus-hit economy

Foo Yun Chee
·1-min read

By Foo Yun Chee

BRUSSELS (Reuters) - The European Commission on Friday urged the 27-country bloc to work together to speed up the rollout of fibre and 5G networks to boost the region's virus-hit economy and secure its technology autonomy.

EU countries should develop a best practices toolbox by March 30 with the aim of cutting cost and red tape, provide timely access to 5G radio spectrum and allow for more cross-border coordination for radio spectrum for 5G services, the EU executive said.

The coronavirus outbreak showed how important internet services and 5G are, European digital chief Margrethe Vestager said.

"We have seen the current crisis highlight the importance of access to very high-speed internet for businesses, public services and citizens, but also to accelerate the pace towards 5G," she said in a statement. "We must therefore work together towards fast network rollout without any further delays."

The Commission also proposed a recommendation to boost research and activities to develop new supercomputing technologies.

"Keeping up in the international technological race is a priority, and Europe has both the know-how and the political will to play a leading role," Internal Market Commissioner Thierry Breton said in a statement.

The Commission is investing 8 billion euros ($9.46 billion)in the next generation of supercomputers.

(Reporting by Foo Yun Chee; Editing by Tomasz Janowski)