STC inks deal with Nokia for 5G network

Updated 06 March 2018
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STC inks deal with Nokia for 5G network

STC and Nokia have announced that they are collaborating to launch STC’s 5G network this year. They agreed to collectively work toward finding the most optimal network strategy and relevant use cases for 5G deployment in the Saudi market. As a first step, hundreds of 5G base stations are planned to be deployed in the Kingdom’s western region (Makkah, Madinah and Yanbu).
The 5G collaboration aims to use Nokia’s equipment and solutions, including the 5G-ready AirScale platform and AirFrame data center for the network launch. The unique combination of high-speed and low-latency in 5G technology opens up a number of new and exciting use cases, such as virtual reality, augmented reality, connected cars, industrial robots, remote health care, and others.
Acting STC Group CEO Nasser Al-Nasser said: “We have been working closely with Nokia over the last 20 years. It is a testimony for this successful partnership that we have decided to collaborate with Nokia for this critical launch, with the aim of making 5G a reality in 2018. We are confident that Nokia’s proven expertise and technology leadership in 5G will work in our favor and will help us in deploying pioneering and innovative 5G services.”
Amr K. El-Leithy, head of the Middle East and Africa market at Nokia, said: “We have defined a 5G Future X portfolio that draws on our research across radio, optics, IP and software technologies. Our market-leading, end-to-end portfolio including Nokia AirScale radio and the Nokia AirFrame datacenter solution will allow STC to evolve its network, managing 4G demands today and the 5G demands of the future.
“Working together with STC, we will leverage our technology expertise to define the strategies and services that will help STC achieve its ‘Vision 2020.’”


Emirates NBD opens branch in Alkhobar

Updated 20 September 2018
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Emirates NBD opens branch in Alkhobar

Emirates NBD, a banking group in the Middle East, has expanded its presence in the Kingdom with the opening of its first branch in Alkhobar in the Eastern Province. Emirates NBD now covers three key regions in Saudi Arabia with a presence in Riyadh, Jeddah and Alkhobar. 

As Saudi Arabia progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time frame. 

UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.

Emirates NBD also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia. 

“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD. 

“Saudi Arabia is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.” 

Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program, which aims to promote financing to small and medium enterprises (SMEs) within the country.

Loai Abduljawad, CEO of Emirates NBD KSA, said: “Emirates NBD’s expanded network strengthens our offering to individuals and corporates in Saudi Arabia looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalized advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.” 

Emirates NBD is a leading banking group in the region. As of June 30, 2018, its total assets were 477.5 billion dirhams, ($130 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 percent of all financial transactions and requests conducted outside of its branches. The bank was declared the “Most Innovative Financial Services Organization of the Year” at the 2017 BAI Global Innovation Awards.