STC inks deal with Nokia for 5G network

Updated 06 March 2018
0

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.’”


GIB Capital takes 4 EMEA Finance awards

Updated 12 December 2018
0

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.