Latest news with #ArabianInternetandCommunicationsServicesCo
Argaam
22-04-2025
- Business
- Argaam
solutions signs SAR 142.4M contract with stc
Arabian Internet and Communications Services Co. (solutions) signed, on April 21, a contract with stc to establish and develop stc's internet and telecommunication networks, at a total value of SAR 142.4 million. In a statement to Tadawul, the company said the contract includes expanding existing and new network nodes, as well as providing supply, installation, integration, and testing services for equipment, tools, software, and systems, in accordance with the agreed scope of work between the two parties. Under the agreement, the internal network capacity will be upgraded to accommodate growing internet service demands. The project also involves the development of internal network infrastructure across nine sites located in five main regions of the Kingdom: Central, Eastern, Western, Northern, and Southern, the statement added. The scope includes providing dedicated DC-GW PE terminals for IP/MPLS network integration, along with the supply, installation, integration, and testing of related hardware and software. The financial impact of the 36-months contact is expected to be reflected starting from Q3 2025. The statement pointed out that stc is the largest shareholder in solutions, owning a 79% stake.
Zawya
10-03-2025
- Business
- Zawya
Saudi Exchange approves Morgan Stanley Saudi Arabia as Market Maker on eight listed securities
RIYADH — The Saudi Exchange Company has approved Morgan Stanley Saudi Arabia to conduct Market Making activities on eight listed securities in both the Main Market and Nomu – Parallel Market, effective March 10, 2025. In the Main Market, Morgan Stanley Saudi Arabia will act as a Market Maker for Arabian Internet and Communications Services Co. (7202), Electrical Industries Co. (1303), Elm Co. (7203), and The Company for Cooperative Insurance (8010). The Market Maker obligations for these securities include a minimum presence of orders at 80%, minimum sizes ranging from SR75,000 to SR150,000, and a maximum spread of 0.65%. In the Nomu – Parallel Market, Market Making activities will apply to National Environmental Recycling Co. (9540), International Human Resources Co. (9545), Almuneef Company for Trade, Industry, Agriculture and Contracting (9569), and Aqaseem Factory for Chemicals and Plastics Co. (9539). These securities will have a minimum presence of orders at 50%, minimum size of SAR 50,000, and a maximum spread of 5.00%. Morgan Stanley Saudi Arabia will operate under the Market Making Regulations and Procedures set by the Saudi Exchange, facilitating liquidity and efficiency in the market. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Argaam
13-02-2025
- Automotive
- Argaam
solutions signs revenue-sharing contract with Sports Boulevard Foundation
Arabian Internet and Communications Services Co. (solutions) signed a revenue-sharing contract with Sports Boulevard Foundation to provide a comprehensive suite of smart parking solutions and integrate them into the Sports Boulevard project. Under the five-year contract, solutions will render and integrate a comprehensive range of smart parking solutions into the Sports Boulevard project in order to enhance accessibility, efficient use of parking spaces, and improve the overall user experience, according to a Tadawul filing today, Feb. 13. The project aims to streamline the parking process for visitors by providing convenient and smart parking features, including real-time tracking and mobile payments. The contract value may exceed 5% of solutions' topline as per the latest audited annual financial statements for 2023. These revenues are not fixed, depending on the volume of transactions in which solutions would garner a revenue share. The related financial impact on the company's earnings would appear starting from Q1 2026. There are no related parties to the deal. This contract demonstrates solutions' commitment to achieving its strategic objectives, being part of its efforts to enhance and enable digital transformation in the Kingdom by fostering public-private partnerships, it pointed out. Sports Boulevard is one of Riyadh's mega projects, launched by King Salman bin Abdulaziz on March 19, 2019. The Sports Boulevard Foundation is chaired by Crown Prince Mohammed bin Salman. The project aims to place Riyadh as one of the most livable cities in the world and as a global hub, contributing to achieving the most prominent goals of Saudi Vision 2030. It is set to promote physical, mental and social wellbeing, which building a community whose members enjoy a decent life, a healthy lifestyle, and an environment that provides a positive and attractive setting for Riyadh's residents and visitors alike.
