Latest news with #stcGroup
Leaders
6 days ago
- Business
- Leaders
GASTAT, stc Group Sign Agreement to Broaden Statistical Data Sources
The General Authority for Statistics (GASTAT) has signed a memorandum of cooperation with stc Group to boost collaboration and coordinate efforts in diversifying and strengthening statistical data sources. The agreement aims to foster integration between the two entities, enabling them to achieve shared objectives and exchange expertise in their respective domains. The signing ceremony was attended by GASTAT President Fahad Al-Dossari and stc Group CEO Olayan Alwetaid. This partnership is part of GASTAT's broader initiative to build ties with public and private sector organizations to improve the availability and quality of statistical data and indicators. It also supports the adoption of advanced technologies to enhance service delivery. The memorandum aligns with Saudi Arabia's digital transformation goals, contributing to the national economy and sustainable development in line with Saudi Vision 2030. Related Topics : Saudi STC Launches Major Lending Push Backed by Western Union GASTAT Reports 13.4% Growth in Non-Oil Exports in Q1 2025, 10.7% Increase in March Saudi Arabia Welcomes Foreign Real Estate Investors Outside Holy Cities All You Need to Know about Hajj Rituals: A Step-by-Step Guide Short link : Post Views: 8 Related Stories
Wamda
09-07-2025
- Business
- Wamda
Saudi fintech Tarmeez Capital raises strategic round from Tali Ventures
Saudi Arabia-based sukuk fintech Tarmeez Capital has raised a strategic funding round led by Tali Ventures, the corporate VC arm of stc group. Founded in 2022 by Nasser Alsaadoun, the platform streamlines sukuk issuance at 7x the speed of traditional methods, supporting over 180,000 users with accessible Islamic finance. Tarmeez Capital plans to scale its platform, expand retail sukuk access, and support Vision 2030 financial inclusion goals. Press release: Tali Ventures, the corporate venture capital arm of stc group, has led a strategic funding round in Tarmeez Capital, one of Saudi's fastest growing fintech players in the sukuk and debt instruments space – an area playing an increasingly vital role in deepening the Kingdom's capital markets. This milestone marks the company's transition from a successfully bootstrapped venture to one backed by a major national investor. The investment supports stc group's broader strategy to back high-growth digital platforms shaping the future of finance and strengthen the Kingdom's financial ecosystem. Tarmeez Capital, licensed by the Capital Market Authority (CMA), provides end-to-end digital financing services for companies across various sectors. Its Sharia-compliant sukuk products are accessible to both institutional and retail investors. To date, the Company has facilitated over SAR 2 billion in financing programs and has opened access to over 180,000 users. Over the last year alone, it has grown sukuk issuances by 459 percent. Through leveraging technology, Tarmeez Capital seamlessly connects finance-seeking businesses with purpose-driven investors. The Company's proprietary technology and data analytics enable them to streamline Sukuk issuance seven times faster than other traditional channels benefiting businesses and investors alike. The investment comes at a time of rapid expansion in Saudi Arabia's corporate debt market, which reached SAR 140 billion in 2024. Issuances via CMA-licensed digital platforms surged to SAR 3.5 billion, up 127.36% year-on-year, with the number of issuances rising to 4,527, a 317.62% increase from 2023. stc group's backing is expected to support Tarmeez Capital's continued growth, helping it scale its offering and deliver cutting-edge financial solutions across the market. 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: 'This investment marks a pivotal milestone for Tarmeez Capital as we scale our offerings in the sukuk and debt market. 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.' In construction and industrial services, Red Sea International has accessed Sharia-compliant capital via Tarmeez to fulfil contracts for Baker Hughes and Red Sea Global. The funds support the design and deployment of prefabricated facilities critical to the Eastern Region's infrastructure buildout. 'Tarmeez's digital issuance model and access to flexible, diverse funding sources enabled us to mobilise quickly and meet tight project timelines while maintaining our regulatory obligations,' as stated by Ghassan Alashkar, Acting CEO of Red Sea International. In housing and urban development, RASF Real Estate Development is deploying sukuk financing for the Deem project in Al Khobar, a contemporary townhouse complex aimed at the Kingdom's growing middle class. 'Flexible, fast access to capital means we can respond to housing demand in real time,' said Ahmed Al Sayyari, CEO of RASF. 'This model allows us to focus on delivering communities that reflect the lifestyle aspirations of today's Saudis.' By opening sukuk to retail investors, Tarmeez Capital is making ethical, Sharia-compliant finance more accessible. This aligns with growing demand for ESG-aligned investments, particularly among younger and underserved investors, and supports Saudi Arabia's Vision 2030 goals for financial inclusion and sustainable growth. 'Tarmeez Capital is positioned to play a leading role in the Kingdom's journey to expand the sukuk and debt market to SAR 954 billion by 2030. Looking ahead, our focus is on scaling our platform, deepening market participation, and contributing to the Kingdom's vision of a dynamic, inclusive, and globally competitive financial sector.', Nasser Al-Saadoun, Founder and CEO of Tarmeez Capital, added.
Tahawul Tech
09-07-2025
- Business
- Tahawul Tech
Ericsson reinforces its commitment to the KSA by establishing regional HQ in Riyadh
Ericsson, one of the leading global ICT vendors has reinforced its commitment to the Kingdom of Saudi Arabia, following its decision to inaugurate its new regional headquarters in Riyadh. The new headquarters reiterates Ericsson's strong commitment to the Kingdom and the strategic role of the country in the company's regional operations across the Middle East and Africa. The ceremony was attended by His Excellency Eng. Haytham AlOhali, Vice Minister at Ministry of Communications and Information Technology; His Excellency Dr. Abdullah A. Aldubaikhi, Assistant Minister of the Ministry of Investment of Saudi Arabia (MISA); Her Excellency Petra Menander, Swedish Ambassador to Saudi Arabia; Börje Ekholm, President and Chief Executive Officer of Ericsson Group; and Patrick Johansson, President of Europe, Middle East and Africa at Ericsson in addition to other Ericsson leadership team members. Also present were Eng. Olayan bin Mohammed Alwetaid, Chief Executive Officer of stc Group, and Eng. Nezar H. Banabeela, Chief Executive Officer of Mobily. The event featured discussions around the evolution of network technologies, the roadmap to 6G, and the impact of Vision 2030 on shaping long-term innovation strategies. With a strong focus on collaboration, talent development, and 5G leadership, Ericsson emphasized on the importance of cross-sector engagement and technological advancement in building an inclusive digital infrastructure for Saudi Arabia and the wider region. His Excellency Dr. Abdullah A. Aldubaikhi, Assistant Minister of the Ministry of Investment of Saudi Arabia (MISA), says: 'The establishment of Ericsson's regional headquarters in Riyadh reinforces Saudi Arabia's position as a leading destination for global investment in advanced technologies. It also aligns with our national ambition to build a dynamic digital economy and foster innovation-led growth. We look forward to continued collaboration with global partners like Ericsson to unlock new opportunities and enable sustainable, technology-driven development across the region.' His Excellency Eng. Abdulrahman AlMufadda, Deputy Minister of Communications and Information Technology for Telecom and Digital Infrastructure, says: 'This milestone reflects the confidence that global companies have in the Kingdom and underscores its growing status as a regional hub for technology and innovation. We thank Ericsson for its strategic partnership and for strengthening its regional presence through Riyadh, which serves as a center for technology and innovation in the region. This strategic presence contributes to realizing the goals of Saudi Vision 2030 by empowering national talent, advancing technological innovation and artificial intelligence, and building a knowledge-based digital economy. In this context, global partnerships are a key driver of progress, accelerating the adoption of emerging technologies and shaping a more connected and sustainable future.' Eng. Olayan bin Mohammed Alwetaid, Chief Executive Officer of stc group, says: 'Ericsson's new regional headquarters in Riyadh represents an important step for us at stc, as the region's digital enabler, in strengthening digital infrastructure, innovation, and digitization across the region. This move reflects the long-standing partnership with Ericsson, and we highly value its contributions to the development of emerging technologies and digital infrastructure. We look forward to continuing our collaboration to deliver world-class connectivity and unlock new horizons for growth and innovation.' Eng. Nezar H. Banabeela, Chief Executive Officer of Mobily, says: 'The inauguration of Ericsson's regional headquarters in Riyadh highlights the Kingdom's global leadership in the digital transformation. At Mobily, we are proud of our strong and long-standing partnership with Ericsson, built on a shared vision to enhance the efficiency of digital infrastructure and strengthen its role in positioning the Kingdom as a regional digital hub for technology and innovation.' Dr. Talal bin Ahmed Al-Sudairy, Senior Vice President for Research and Development at King Abdulaziz City for Science and Technology, says: 'The partnership between King Abdulaziz City for Science and Technology and Ericsson reflects our shared commitment to driving innovation and developing advanced connectivity solutions in the Kingdom. The opening of Ericsson's new regional headquarters marks an important step in strengthening this collaboration. Joint initiatives, such as the Blink Lab, contribute to accelerating the development of future connectivity technologies and use cases that require ultra-reliable communication such as gaming and immersive experiences and supporting local innovation ecosystems in alignment with the objectives of Saudi Vision 2030.' Patrick Johansson, President of Ericsson Europe, Middle East and Africa, says: 'The establishment of our new Middle East and Africa regional headquarters in Riyadh strengthens our presence in the region. This is a pivotal step in our journey to support digital growth, innovation, and collaboration. The new headquarters will also enable us to further deepen our close partnerships with customers and partners, accelerate the adoption of advanced technologies, and build a more connected future.' Saudi Arabia continues to play a central role in Ericsson's regional strategy. The company has contributed to the development of the Kingdom's telecommunications sector by expanding mobile infrastructure, supporting the adoption of 5G, and enabling digital transformation. Ericsson's Gen-E Graduate Program has been hosted at the 5G Innovation Hub in Riyadh since 2018, professionally developing over 190 Saudi graduates from leading national and international universities, with women making up 50 percent of the cohort. The program provides comprehensive training on Ericsson's technologies, tools, and methodologies, including technical workshops led by Ericsson's experts and the Ericsson KSA leadership team. Since its launch, it has contributed to the development of diverse 5G and Internet of Things (IoT) use cases across multiple sectors like robotics, 5G edge computing, and mixed reality monitoring and control, supporting Saudi Arabia's innovation and digital transformation efforts. Over the years, Ericsson has closely partnered with stc, Mobily, Zain KSA, King Abdullah University of Science and Technology (KAUST), and King Abdulaziz City for Science and Technology (KACST) on initiatives focused on research, innovation, and the development of advanced connectivity solutions. Ericsson and King Abdulaziz City for Science and Technology have partnered in 2024 to establish a joint advanced connectivity lab for gaming and beyond at King Abdulaziz City for Science and Technology premises, named 'Blink Lab'. The lab will feature a private 5G network and serve as a testbed for training, research, product development and commercialization of innovative gaming solutions from global and local ecosystems. Another R&D collaboration in Saudi Arabia is between Ericsson and KAUST to propel 5G and 6G in the Kingdom. The partnership aims to continue fostering scientific findings and developing talent in line with Saudi Arabia's Vision 2030, further contributing to the Kingdom's Information and Communications Technology sector growth. These efforts support the objectives of Saudi Arabia's Vision 2030 by strengthening the Kingdom's digital ecosystem and accelerating the adoption of new technologies across various sectors.
Al Bawaba
08-07-2025
- Business
- Al Bawaba
stc group Empowers Saudi Arabia's Key Sectors with Launch of the Business-Critical Network
stc group has unveiled its latest wireless communications network, the Business-Critical Network, designed to revolutionize connectivity for Saudi Arabia's most critical sectors, including government, healthcare, and oil and gas. As one of the first networks of its kind in the kingdom, it delivers high-speed, high-availability, and encrypted communication capabilities, empowering industries to operate with unparalleled efficiency and resilience. The network is engineered with future-readiness at its core, offering seamless adaptability and compatibility with emerging and evolving technologies such as artificial intelligence, edge computing, and the Internet of Things (IoT). Compliant with global Mission Critical and 3GPP standards, the network is built on a dedicated LTE network that spans the entire Kingdom and is engineered to meet the highest benchmarks for security, reliability and agility. It is specifically tailored to address the unique demands of business-critical operations, where high-stakes environments require split-second decision-making and flawless communication. Its scalable architecture paves the way for next-generation innovations, including autonomous operations, real-time situational awareness, and advanced crowd management solutions, empowering industries to stay ahead in an increasingly dynamic and data-driven world. 'The launch of the Business-Critical Network marks a new era of critical communications for Saudi Arabia,' said Riyadh Muawad, Chief Business Officer at stc group. 'This purpose-built network sets a new benchmark for mission-critical communications, empowering key industries with the speed, security, and intelligence needed to operate in high-pressure environments. It reflects our commitment to enabling national sectors with future-ready capabilities and cementing stc group's position as a trusted partner in advancing the Kingdom's digital future.' The Business-Critical Network delivers a robust, all-in-one solution for essential digital communications, offering advanced features such as encrypted push-to-talk, shock-resistant devices, emergency alerts, and secure group messaging. Purpose built for high-demand environments, the network integrates artificial intelligence to enable smarter decision-making, predictive maintenance, and heightened situational awareness across complex operations. 'As the sales arm behind this groundbreaking launch, we are proud to deliver a service that meets the unique communication needs of critical industries,' said Eng. Khaled Al-Dharrab, CEO of specialized by stc. 'The Business Critical Network empowers organizations to strengthen operational control, improve responsiveness, and elevate safety —ensuring seamless performance even in the most demanding and high-pressure environments. The launch of the Business Critical Network responds to the growing need for reliable, resilient communications across Saudi Arabia's vital sectors. With cutting-edge speed and a steadfast emphasis on security, the system is poised to become a cornerstone for industries ranging from critical infrastructure to public safety and emergency response. This milestone reinforces stc group's commitment to driving national connectivity and technological advancement in support of the Saudi Vision 2030.
Zawya
07-07-2025
- Business
- Zawya
STC group advances to A in MSCI ESG ratings, strengthening global sustainability position
Morgan Stanley Capital International (MSCI), an investment research firm and a leading global Environmental, Social, and Governance (ESG) index provider, has upgraded stc group from 'BBB' in 2024 to 'A' in 2025 in its latest ESG ratings, marking a significant leap for the leading digital enabler from the 2024 rankings. stc group is now among the top 31% of telecom companies worldwide to receive an 'A' rating, out of a total of 62 telecom companies ranked by MSCI. This ranking reflects the group's consistent progress in embedding sustainability, governance, and transparency across its operations. In the MSCI report, findings on stc group's improvements highlighted strengths in data privacy and cybersecurity. This included a comprehensive framework for external IT audits, robust emergency response protocols, and continuous oversight at the highest levels of the group's digital infrastructure. The data protection strengths extended across stc's supply chain and tailored training for employees and contractors. Commenting on the ranking, Olayan Alwetaid, stc group's CEO remarked: 'This upgrade reflects stc group's sustainable growth and strong commitment to the highest ESG standards. It also recognizes our leading role and our positive contribution to advancing sustainability and transparency globally.' It is noted that the classification of the stc group in the MSCI index has witnessed rapid increases in recent years, as the group has been keen to enhance its efforts related to environmental protection, social responsibility, data security, and privacy. This is through adopting the best local and international standards and practices, employing sustainable technologies and innovative digital solutions, and empowering individuals and communities, along with adhering to the highest standards of integrity and transparency in all its practices. stc group is a digital enabler, offering advanced solutions and driving a role in the digitalization process. The group provides a comprehensive suite of services encompassing digital infrastructure, cloud computing, cybersecurity, Internet of Things (IoT), digital payments, digital media, and digital entertainment. The group comprises 13 subsidiaries across the Kingdom of Saudi Arabia, the Middle East, North Africa, and Europe. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
