Latest news with #stc
Biz Bahrain
a day ago
- Business
- Biz Bahrain
Stc successfully lands the first Bahraini submarine cable system; 2Africa Pearls in Bahrain
Marking a significant milestone in global connectivity, stc has announced that the 2Africa cable system – Pearls, the world's longest submarine cable, has successfully landed in Bahrain. With a US$ 205 million investments in 2Africa Pearls submarine cable system, this massive lift up in international connectivity toward Bahrain will reinforce the Kingdom as a powerful ICT hub, speeding up digital transformation across connected countries, attracting significant international investment opportunities, creating jobs and boosting innovation across sectors. The live landing of 2Africa Pearls submarine cable system next to Seef District on 4th of June was witnessed by H.E. Dr. Shaikh Abdullah bin Ahmed Al Khalifa, Minister of Transportation and Telecommunications and Telecommunications and Eng. Khalid Al Osaimi, Chief Executive Officer, stc Bahrain. The landing operation, which involved connecting the on-board cable to the ground infrastructure, was completed in record time. On this occasion, H.E. Dr. Shaikh Abdullah bin Ahmed Al Khalifa, Minister of Transportation and Telecommunications, expressed pride in Bahrain's advanced telecommunications infrastructure, noting that this achievement reflects the Kingdom's commitment to strengthening its position as a regional and global digital hub, in line with the goals of Bahrain's Economic Vision 2030. He emphasized the Ministry's dedication to fostering fruitful partnerships with the private sector, especially the strategic collaboration with stc Bahrain, which stands as a successful model of public-private synergy in advancing digital transformation. H.E. added that the landing of the 2Africa Pearls submarine cable in Bahrain represents a qualitative leap that will enhance the Kingdom's global connectivity, support its digital economy, and open new horizons for innovation and investment. Eng. Khalid Al Osaimi, Chief Executive Officer of stc Bahrain said, 'We are thrilled to land the 2Africa Pearls submarine cable to Bahrain, this will increase Bahrain's current connectivity capacity by 10x, further scalable to accommodate future growth. This is in line with our commitment to advancing Bahrain's position as a leading communications and digital hub for the region, directly aligning with Bahrain's Economic Vision 2030, and its goals for the ICT sector to create a diversified, knowledge-based economy.' Spanning 45,000 km with a massive 180 terabits per second design capacity, the 2Africa submarine cable will enable faster adoption of new technologies and digital solutions. 2Africa Pearls is the only cable in GCC capable of meeting the growing demands of data-heavy applications, including content streaming, cloud computing, and gaming. With the landing of 2Africa Pearls submarine cable system, the cable's massive capacity and low latency will serve as a catalyst for innovation and growth in emerging technologies like 5G, AI, and IoT, providing the essential infrastructure needed to support data-intensive applications and services. The increased connectivity will empower businesses with improved communication, access to global markets, and enhanced operational efficiency. Moreover, for consumers, this transformative project will provide reliable internet services and richer digital experience.
Zawya
a day ago
- Business
- Zawya
Bahrain plugs into global data highway via 2Africa Pearls Cable
Saudi telecom group stc has announced that the 2Africa cable system - Pearls, the world's longest submarine cable, has successfully landed in Bahrain. This massive $205 million lift up in global connectivity toward Bahrain will reinforce the kingdom as a powerful ICT hub. Marking a significant milestone in global connectivity, Saudi telecom group stc has announced that the 2Africa cable system - Pearls, the world's longest submarine cable, has successfully landed in Bahrain. With a $205 million investments in 2Africa Pearls submarine cable system, this massive lift up in international connectivity toward Bahrain will reinforce the kingdom as a powerful ICT hub, speeding up digital transformation across connected countries, attracting significant international investment opportunities, creating jobs and boosting innovation across sectors. The live landing of 2Africa Pearls submarine cable system next to Seef District was witnessed by Dr. Shaikh Abdullah bin Ahmed Al Khalifa, Minister of Transportation and Telecommunications and Telecommunications and Eng. Khalid Al Osaimi, Chief Executive Officer, stc Bahrain. Spanning 45,000 km with a massive 180 terabits per second design capacity, the 2Africa submarine cable will enable faster adoption of new technologies and digital solutions. It is the only cable in GCC capable of meeting the growing demands of data-heavy applications, including content streaming, cloud computing, and gaming, it stated. The landing operation, which involved connecting the on-board cable to the ground infrastructure, was completed in record time. Speaking on the occasion, Dr. Shaikh Abdullah bin Ahmed Al Khalifa, Minister of Transportation and Telecommunications, said this achievement reflects the kingdom's commitment to strengthening its position as a regional and global digital hub, in line with the goals of Bahrain's Economic Vision 2030. Dr. Shaikh, expressing pride in Bahrain's advanced telecommunications infrastructure, stated that his ministry remained fully dedicated to fostering fruitful partnerships with the private sector, especially the strategic collaboration with stc Bahrain, which stands as a successful model of public-private synergy in advancing digital transformation. The landing of the 2Africa Pearls submarine cable in Bahrain represents a qualitative leap that will enhance the kingdom's global connectivity, support its digital economy, and open new horizons for innovation and investment, he added. stc Bahrain CEO Engineer Khalid Al Osaimi said: "We are thrilled to land the 2Africa Pearls submarine cable in the kingdom. This will increase Bahrain's current connectivity capacity by 10x, further scalable to accommodate future growth." "This is in line with our commitment to advancing Bahrain's position as a leading communications and digital hub for the region, directly aligning with Bahrain's Economic Vision 2030, and its goals for the ICT sector to create a diversified, knowledge-based economy," he added. With the landing of 2Africa Pearls submarine cable system, the cable's massive capacity and low latency will serve as a catalyst for innovation and growth in emerging technologies like 5G, AI, and IoT, providing the essential infrastructure needed to support data-intensive applications and services. stc said the increased connectivity will empower businesses with improved communication, access to global markets, and enhanced operational efficiency. Moreover, for consumers, this transformative project will provide reliable internet services and richer digital experience, it added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. ( MANAMA
Zawya
2 days ago
- Business
- Zawya
Stc successfully lands the first Bahraini submarine cable system; 2Africa Pearls in Bahrain
Manama, Bahrain – Marking a significant milestone in global connectivity, stc has announced that the 2Africa cable system - Pearls, the world's longest submarine cable, has successfully landed in Bahrain. With a US$ 205 million investments in 2Africa Pearls submarine cable system, this massive lift up in international connectivity toward Bahrain will reinforce the Kingdom as a powerful ICT hub, speeding up digital transformation across connected countries, attracting significant international investment opportunities, creating jobs and boosting innovation across sectors. The live landing of 2Africa Pearls submarine cable system next to Seef District on 4th of June was witnessed by H.E. Dr. Shaikh Abdullah bin Ahmed Al Khalifa, Minister of Transportation and Telecommunications and Telecommunications and Eng. Khalid Al Osaimi, Chief Executive Officer, stc Bahrain. The landing operation, which involved connecting the on-board cable to the ground infrastructure, was completed in record time. On this occasion, H.E. Dr. Shaikh Abdullah bin Ahmed Al Khalifa, Minister of Transportation and Telecommunications, expressed pride in Bahrain's advanced telecommunications infrastructure, noting that this achievement reflects the Kingdom's commitment to strengthening its position as a regional and global digital hub, in line with the goals of Bahrain's Economic Vision 2030. He emphasized the Ministry's dedication to fostering fruitful partnerships with the private sector, especially the strategic collaboration with stc Bahrain, which stands as a successful model of public-private synergy in advancing digital transformation. H.E. added that the landing of the 2Africa Pearls submarine cable in Bahrain represents a qualitative leap that will enhance the Kingdom's global connectivity, support its digital economy, and open new horizons for innovation and investment. Eng. Khalid Al Osaimi, Chief Executive Officer of stc Bahrain said, 'We are thrilled to land the 2Africa Pearls submarine cable to Bahrain, this will increase Bahrain's current connectivity capacity by 10x, further scalable to accommodate future growth. This is in line with our commitment to advancing Bahrain's position as a leading communications and digital hub for the region, directly aligning with Bahrain's Economic Vision 2030, and its goals for the ICT sector to create a diversified, knowledge-based economy.' Spanning 45,000 km with a massive 180 terabits per second design capacity, the 2Africa submarine cable will enable faster adoption of new technologies and digital solutions. 2Africa Pearls is the only cable in GCC capable of meeting the growing demands of data-heavy applications, including content streaming, cloud computing, and gaming. With the landing of 2Africa Pearls submarine cable system, the cable's massive capacity and low latency will serve as a catalyst for innovation and growth in emerging technologies like 5G, AI, and IoT, providing the essential infrastructure needed to support data-intensive applications and services. The increased connectivity will empower businesses with improved communication, access to global markets, and enhanced operational efficiency. Moreover, for consumers, this transformative project will provide reliable internet services and richer digital experience.
Al Bawaba
2 days ago
- Business
- Al Bawaba
stc honors top high school achievers and children of the Company employees for their excellence
Kuwait Telecommunications Company – stc, a world-class digital leader providing innovative services and platforms to customers enabling digital transformation in Kuwait, announced the recognition of a distinguished group of high-achieving high school students, outstanding students from special needs schools, and the children of stc employees who achieved academic excellence during the year. The recognition ceremony was held under the umbrella of stc's comprehensive corporate social responsibility (CSR) framework, through its educational 'upgrade' initiative, which was launched primarily to support the education sector and empowering the next event took place at stc's headquarters in Olympia Tower and was attended by Maryam Al-Enezi, Assistant Undersecretary for Educational Development and Activities at the Ministry of Education. stc executives also attended the ceremony, including Mr. Khaled AlSudairy, Chief Strategy Officer and Mr. Raed Maree, Chief Human Resources Officer. Family members joined to celebrate and share in this proud moment of achievement for the on the occasion, Ahmed Al Nowaibet, Director of Public Relations and Social Media at stc, said, 'Recognizing academic excellence among students reflects our ongoing commitment to empowering Kuwait's future leaders. Through programs like the educational 'upgrade' initiative, we aim to encourage young people to strive for success, embrace their potential, and inspire their peers to pursue their goals with passion and determination.'Al Nowaibet added, 'At stc, we believe in the importance of empowering the younger generation by celebrating their achievements and acknowledging the hard work and effort that they have put in to achieve their academic goals. This is why our recognition ceremony has become an annual celebration where we can invite high-achieving students and celebrate what they have accomplished in the presence of their loved ones. Such events strongly align with the various strategic pillars defined under our extensive CSR program, focusing primarily on supporting the community. Through our educational 'upgrade' initiative and ongoing collaborations across the education sector, stc will continue to foster a culture that values knowledge, creativity, and personal growth.'Maryam Al-Enezi, Assistant Undersecretary for Educational Development & Activities Sector at the Ministry of Education expressed her thanks and appreciation to Kuwait Telecommunications Company stc for its continuous contribution and support to the educational initiatives through meaningful activities and events to empower future leaders. She pointed out that collaboration between the private and government sectors contributes strategically to highlighting the importance of promoting and developing education and focusing on sustainable education to create a lasting and positive impact on society. In a statement, stc expressed that the Company has been a long-time supporter of students and graduates, having participated in numerous events. These initiatives align with the Company's strategy to empower and attract ambitious Kuwaiti talents who fit stc's dynamic culture. Additionally, the Company has participated in and sponsored various initiatives that aimed to support and contribute to the local education arena, especially under the umbrella of its educational 'upgrade' initiative. The Company highlighted that it will continue to explore opportunities of strategic collaborations within the education sector, stressing on the importance of knowledge and education to further develop the economy.
Fintech News ME
5 days ago
- Business
- Fintech News ME
Tali Ventures Invests in Tarmeez Capital to Support Sukuk Market Growth
Tali Ventures, the corporate venture capital arm of stc group, has led a strategic funding round in Tarmeez Capital, a fintech company specialising in sukuk and debt instruments in Saudi Arabia. The investment marks Tarmeez Capital's transition from a self-funded business to one backed by a major national investor and supports stc group's broader strategy to invest in digital platforms contributing to the Kingdom's financial infrastructure. Tarmeez Capital, licensed by the Capital Market Authority (CMA), offers digital financing solutions across multiple sectors. Its Sharia-compliant sukuk products are available to both institutional and retail investors. The company has facilitated financing programmes exceeding SAR 2 billion and serves more than 180,000 users. Over the past year, sukuk issuances grew by 459%, supported by the firm's proprietary technology, which enables faster issuance processes compared to traditional channels. The investment follows significant growth in Saudi Arabia's corporate debt market, which reached SAR 140 billion in 2024. Digital platforms licensed by the CMA accounted for SAR 3.5 billion in issuances, a 127.36% increase year-on-year, with the total number of issuances rising 317.62% to 4,527. Majed Al Jarboua, General Manager of Corporate Fund and Entrepreneurship at stc group, stated: 'Tarmeez Capital is gaining ground in a sector that's becoming central to how companies access capital in Saudi Arabia. stc group is proud to back a homegrown fintech pushing the boundaries of digital finance. This investment marks a strategic step in scaling the next generation of financial infrastructure.' Nasser Al-Saadoun, Founder and CEO of Tarmeez Capital, commented: 'We're glad to partner with stc group, whose vision aligns with ours in advancing innovative, Sharia-compliant financial solutions. We're also grateful to the Capital Market Authority for fostering an environment where fintechs can thrive, and to our exceptional team for their continued dedication and drive.' Tarmeez Capital has facilitated financing in sectors such as industrial services and real estate. Red Sea International secured Sharia-compliant capital through the platform to fulfil contracts with Baker Hughes and Red Sea Global. The funding supported prefabricated infrastructure deployment in the Eastern Region. In the housing sector, RASF Real Estate Development is using sukuk financing for the Deem project in Al Khobar, a townhouse development targeting the Kingdom's growing middle class. Tarmeez Capital's platform also provides retail access to sukuk, contributing to broader financial inclusion and aligning with demand for ethical and ESG-compliant investment products, particularly among younger and underserved investor groups. The development supports the objectives of Vision 2030 to expand access to capital markets and promote sustainable economic growth.
