Mobily partners with Nokia for 5G tests in KSA

The MoU was signed recently in Barcelona by Ahmed Aboudoma, Mobily CEO, and Ashish Chowdhary, chief customer operations officer at Nokia.
Updated 04 March 2018
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Mobily partners with Nokia for 5G tests in KSA

Etihad Etisalat (Mobily) has signed a memorandum of understanding with Nokia to launch 5G tests for the first time in the Kingdom. The MoU was signed recently in Barcelona by Ahmed Aboudoma, Mobily CEO, and Ashish Chowdhary, chief customer operations officer at Nokia.
Mobily and Nokia are collaborating in a strategic vision to develop 5G toward the next generation of advanced bandwidth networks. The MoU includes introducing new technologies in the Mobily network, such as 4.5G LET, 4.9G, 5G, transport modernization for both optic and IP, and fixed wireless access technologies including FastMile and wireless PON.
Mobily CEO Aboudoma said: “We are working at Mobily to achieve one of the pillars of the Kingdom’s Vision 2030, in which the Kingdom is seeking to increase high-speed Internet coverage in different regions of the country, and enhance the quality of connection. In order to achieve this goal, we are signing an MoU with Nokia and other enterprises that have a track record in launching new telecom technologies.”
The MoU is in line with Mobily’s aim to achieve one of the goals of Vision 2030, focusing on the development of the Kingdom’s technologies to be at par with the international telecom industry.


GIB Capital takes 4 EMEA Finance awards

Updated 12 December 2018
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GIB Capital takes 4 EMEA Finance awards

GIB Capital, a Riyadh-based regional investment banking and asset management arm of Gulf International Bank (GIB), has won awards in four categories in the EMEA Finance Middle East Banking Awards 2018.

The awards for the 11th year are recognizing the achievements of the best banks, asset managers and brokers in countries across the Middle East. 

Recognizing GIB Capital’s continued regional market leadership across investment banking products, EMEA Finance named GIB Capital as the “Best Investment Bank in the Middle East,” “Best Local Investment Bank — Saudi Arabia” and “Best Local Investment Bank — Bahrain,” each for the third consecutive year. GIB Capital was also named the “Best Foreign Investment Bank — Oman” for the second consecutive year. 

Osamah Mohammed Shaker, CEO of GIB Capital, said: “We’re extremely proud of the work that GIB Capital is doing for our clients across the GCC and of the recognition and confidence we continue to enjoy from the market for excellence in investment banking. The continued recognition that we have received across a number of geographies underscores our position as a leading player in our core markets.” 

During the 12-month review period for the EMEA Finance awards, GIB Capital completed over $17 billion in capital market transactions including sovereign issuances for Saudi Arabia, Bahrain and Oman. GIB Capital also assisted the shareholders of Saudi Tabreed District Cooling Company with the sale of a minority shareholding to IDB Infrastructure Fund II, in which the major investors include the Islamic Development Bank (IDB), Public Investment Fund (PIF), Public Pension Agency (PPA) of Saudi Arabia, Ministry of Finance of Bahrain and the Ministry of Finance of Brunei Darussalam. 

In another landmark transaction, GIB Capital assisted the shareholders of Byrne Equipment Rental Company with the sale of 100 percent shareholding to a consortium of investors including CITIC Pacific, a Chinese sovereign wealth fund, and V-Power, a Chinese company engaged in power generation.

EMEA Finance is among the leading information sources for the finance industry, delivering compelling and relevant reporting about the activities, challenges and opportunities that exist in one of the world’s most dynamic and emerging regions — the combined emerging Europe, Middle East and Africa. Awards are set to be presented to winners at the magazine’s annual awards ceremony taking place in Dubai in February 2019.