Posts filtered by tags: Saudi Telecom[x]


 

Western Union Buys 15% Stake in #Saudi Telecom’s STC Pay Unit - Bloomberg

Western Union Buys 15% Stake in Saudi Telecom’s STC Pay Unit - Bloomberg Western Union Co. has acquired a 15% stake in STC Pay, an arm of Saudi Telecom Co. that is focused on digital payments and financial technology services.Western Union purchased the stake for $200 million, the Saudi-based telecom operator said in a statement Saturday, valuing the company at about 5 billion riyals ($1.3 billion).STC Pay, which goes by lower case lettering in its branding, is a financial company that launched ...
Tags: Travel, Western Union, STC, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, STC Pay Unit Bloomberg, STC Pay Unit Bloomberg Western Union Co


MIDEAST STOCKS- #Saudi Arabian shares see broad-based losses, Industries #Qatar weighs | Nasdaq

Saudi Arabian shares fell sharply on Thursday, incurring losses across the board due to weak oil prices, while the Qatari benchmark was dragged lower by heavyweight Industries Qatar.Oil prices slumped 5% in the previous session, with Brent hitting a four-month low, as surging coronavirus infections in the United States and Europe prompted renewed lockdowns and raised concerns of new declines in fuel demand. O/RThe kingdom's benchmark index .TASI declined 1.6%, with oil giant Saudi Aramco 2222.SE...
Tags: Travel, Europe, Qatar, United States, United Arab Emirates, Saudi Aramco, Petroleum Exporting Countries OPEC, Tasi, Rupert Neil Bumfrey, Saudi Telecom, Industries Qatar IQCD QA, Industries Qatar Oil, Qatar Insurance QINS


Omantel Is Said to Explore a $500 Million Sale of Tower Network - Bloomberg

Omantel Is Said to Explore a $500 Million Sale of Tower Network - Bloomberg:Oman’s biggest phone company is weighing the sale of its tower network, a deal that may fetch about $500 million, according to people with knowledge of the matter.State-controlled Oman Telecommunication Co., valued at 474 million rials ($1.2 billion), is seeking to sell about 3,000 towers in the sultanate, the people said, asking not to be identified because the information is private. The transaction will probably attra...
Tags: Travel, Africa, South Africa, Middle East, Oman, State, IHS, Zain, Rupert Neil Bumfrey, Saudi Telecom, Tower Network Bloomberg, Oman Telecommunication Co, Telkom SA SOC Ltd


#Saudi Telecom Said to Weigh IPO for Internet-Services Unit - Bloomberg

Saudi Telecom Said to Weigh IPO for Internet-Services Unit - Bloomberg:Saudi Telecom Co. plans to spin off its internet-services unit through an initial public offering on the local stock exchange late next year, in a listing that could value the business at about 10 billion riyals ($2.7 billion), according to people familiar with the matter.Saudi Telecom is considering selling as much as 30% of the unit, Solutions by STC, although no final decisions have been made and the company may still deci...
Tags: Travel, Riyadh, STC, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co


Vodafone Remains in Talks to Sell Stake in Egypt Unit to STC - Bloomberg

Vodafone Remains in Talks to Sell Stake in Egypt Unit to STC - Bloomberg:Vodafone Group Plc said it remains in talks to sell its Egyptian business to Saudi Telecom Co. after failing to finalize the terms before a deadline.Vodafone “remains in discussions with Saudi Telecom to finalize the transaction in the near future,” and “now looks to Saudi Telecom and Telecom Egypt to find a suitable agreement to enable the transaction to close,” the U.K.-based mobile carrier said in a statement.Saudi Telec...
Tags: Travel, Egypt, Vodafone, Vodafone Group Plc, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, Vodafone Egypt, Vodafone Remains, STC Bloomberg, Saudi Telecom and Telecom Egypt, Telecom Egypt Saudi Telecom


Middle East Deals: #Saudi Telecom Seeks to Cut Offer for Stake in Vodafone Egypt - Bloomberg

Middle East Deals: Saudi Telecom Seeks to Cut Offer for Stake in Vodafone Egypt - Bloomberg:Saudi Telecom Co. is in discussions to reduce its non-binding $2.39 billion offer for a stake in Vodafone Egypt, two people with direct knowledge of the talks said.The discussions come as a deadline nears for STC to move ahead with the non-binding offer first made in January. The Saudi company in July extended the memorandum of understanding for 60 days due to the impact of the coronavirus pandemic.The ca...
Tags: Travel, Vodafone, STC, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, Vodafone Egypt, Vodafone Egypt Bloomberg, Telecom Egypt STC


MIDEAST STOCKS-Gulf bourses gain ahead of earnings, #Dubai's DAMAC surges - Agricultural Commodities - Reuters

MIDEAST STOCKS-Gulf bourses gain ahead of earnings, Dubai's DAMAC surges - Agricultural Commodities - Reuters:Most major stock markets in the Gulf rose in early trade on Sunday ahead of the usual flurry of corporate results that begins after July 15 each year, with DAMAC Properties leading Dubai shares higher.Last Thursday, an investment firm said that on behalf of Hussain Sajwani - founder and Chairman of DAMAC Properties - and his group, it was exploring the possibility of his buying out minor...
Tags: Travel, Saudi Arabia, Vodafone, Dubai, Gulf, Riyad Bank, DAMAC Properties, Rupert Neil Bumfrey, Saudi Telecom, Damac, Hussain Sajwani, Al Rajhi Bank, Vodafone Egypt, Agricultural Commodities Reuters


#Saudi Telecom extends Vodafone Egypt stake purchase for second time - Reuters

Saudi Telecom extends Vodafone Egypt stake purchase for second time - Reuters:Saudi Arabia’s largest telecoms operator Saudi Telecom Co (STC) (7010.SE) said on Sunday it would need another two months to complete the purchase of Vodafone Group’s 55% stake in Vodafone Egypt.STC signed a non-binding agreement in January to buy the majority stake for $2.4 billion, but extended the process in April by 90 days, citing logistical challenges caused by the coronavirus pandemic.In a statement, STC said it...
Tags: Travel, Saudi Arabia, Reuters, STC, Vodafone Group, Rupert Neil Bumfrey, Saudi Telecom, Vodafone Egypt, Saudi Telecom Co STC, Vodafone Egypt STC


#Kuwait Stock Exchange Delays Trading Debut on Coronavirus - Bloomberg

Kuwait Stock Exchange Delays Trading Debut on Coronavirus - Bloomberg:The Kuwait Stock Exchange is delaying the listing of its shares due to restrictions on work triggered by the coronavirus pandemic.The listing, scheduled for April 19, has been postponed until further notice “due to exceptional circumstances that are imposed by the spread of the coronavirus pandemic,” the bourse said in a statement. Kuwait’s would have been the second stock exchange in the Gulf region to list its shares after D...
Tags: Travel, Dubai, Bahrain, Kuwait, Gulf, Rupert Neil Bumfrey, Saudi Telecom, Ahli United Bank BSC, Kuwait Finance House KSCP, Vodafone Egypt, Kuwait Stock Exchange, Coronavirus Bloomberg


#Saudi Telecom Delays $2 Billion-Debt Talks for Vodafone Deal - Bloomberg

Saudi Telecom Delays $2 Billion-Debt Talks for Vodafone Deal - Bloomberg:Saudi Telecom Co. has postponed talks to raise debt to fund the acquisition of Vodafone Group Plc’s stake in its Egyptian business because of the coronavirus outbreak, according to people with knowledge of the matter.Work on the acquisition is still continuing and the kingdom’s largest telecoms operator may resume negotiations with banks for a loan of more than $2 billion once things have settled, the people said, asking no...
Tags: Travel, Vodafone, Vodafone Group Plc, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, Vodafone Egypt, Saudi Telecom Delays, Vodafone Deal Bloomberg


Mideast Stocks: #Saudi stocks gain ahead of OPEC meet, other major Gulf markets mixed | ZAWYA MENA Edition

Mideast Stocks: Saudi stocks gain ahead of OPEC meet, other major Gulf markets mixed | ZAWYA MENA Edition:The Saudi Arabian stock market gained in early trade on Thursday as oil prices strengthened ahead of an OPEC meeting to discuss supply cuts, while other major Gulf markets were mixed.Oil prices rose more than 1% ahead of the meeting in which Saudi Arabia is expected to push OPEC and its allies including Russia to agree to further output cuts to support the market.Prices of brent crude have t...
Tags: Travel, Saudi Arabia, Russia, Opec, Gulf, Saudi Aramco, State, Mideast, Rupert Neil Bumfrey, Saudi Telecom, Al Rajhi Bank


Vodafone to sell stake in Egyptian unit to Saudi Telecom for $2.4 billion - Reuters

Vodafone to sell stake in Egyptian unit to Saudi Telecom for $2.4 billion - Reuters:Vodafone Group (VOD.L) has struck a preliminary deal to sell its 55% stake in its Egyptian unit to Saudi Arabia’s largest telecoms operator STC (7010.SE) for $2.4 billion, the companies said on Wednesday. The non-binding deal values Vodafone Egypt at $4.4 billion and the two companies have agreed a arrangement over the long-term use of the Vodafone brand and other services in Egypt.Selling the stake is in line wi...
Tags: Travel, Europe, Saudi Arabia, Egypt, Vodafone, Reuters, Nick Read, STC, Vodafone Group, Rupert Neil Bumfrey, Saudi Telecom, Vodafone Egypt, Saharan Africa Vodafone


Vodafone to sell stake in Egyptian unit to Saudi Telecom for $2.4 billion

Vodafone Group has struck a preliminary deal to sell its 55% stake in its Egyptian unit to Saudi Arabia's largest telecoms operator STC for $2.4 billion, the companies said on Wednesday.
Tags: Money, Saudi Arabia, businessNews, Vodafone, STC, Vodafone Group, Saudi Telecom


Vodafone to sign MOU with Saudi Telecom for Egypt unit stake sale - Egyptian government

Vodafone Group is to sign a memorandum of understanding with Saudi Telecom for the possible sale of a stake in Vodafone Egypt , the Egyptian cabinet said in a statement on Tuesday.
Tags: Money, businessNews, Egypt, Vodafone, MOU, Vodafone Group, Saudi Telecom, Vodafone Egypt


MIDEAST STOCKS- #Saudi extends gains, Air Arabia propels #Dubai - Reuters

MIDEAST STOCKS-Saudi extends gains, Air Arabia propels Dubai - Reuters:Saudi Arabia’s stock market rose on Tuesday, extending gains for a third straight session, while Air Arabia aided a Dubai rebound.In Saudi Arabia, the benchmark index rose 0.5% with Al Rajhi Bank and Saudi Telecom gaining 0.9% and 0.7% respectively.Mediterranean and Gulf Cooperative Insurance and Reinsurance (MedGulf) rose 0.8%. On Sunday, the insurer signed a health insurance contract with Saudi Electricity.Elsewhere, Basic ...
Tags: Travel, Saudi Arabia, Dubai, Mediterranean, Dubai Reuters, Air Arabia, Rupert Neil Bumfrey, Saudi Telecom, Al Rajhi Bank, Jubail Industrial City, Gulf Cooperative Insurance and Reinsurance MedGulf


MIDEAST STOCKS-Gulf stocks gain ahead of corporate earnings, #Qatar outperforms - Reuters

MIDEAST STOCKS-Gulf stocks gain ahead of corporate earnings, Qatar outperforms - Reuters:All major Gulf stock markets gained on Monday ahead of corporate earnings, which are expected to gather pace later this week, with Qatar outperforming its regional peers.Qatar’s index was up 0.5%, led by lenders. Masraf Al Rayan advanced 2.8%, while Qatar Islamic Bank rose 1.3% ahead of its nine-month earnings on Wednesday.Saudi Arabia’s index inched up 0.2% after five straight sessions of losses, with Al Ra...
Tags: Travel, Saudi Arabia, Qatar, Gulf, Reuters, Qatar Islamic Bank, Rupert Neil Bumfrey, Saudi Telecom, Al Rajhi Bank, Masraf Al Rayan


Mideast Stocks: #Saudi gains ahead of MSCI entry, banks lift most Gulf markets | ZAWYA MENA Edition

Mideast Stocks: Saudi gains ahead of MSCI entry, banks lift most Gulf markets | ZAWYA MENA Edition:Saudi Arabia's stock market rose on Wednesday with most of its banks gaining ahead of MSCI entry later this month. Lenders also lifted most major Gulf bourses.Saudi's index was up 0.9% in early trade. Al Rajhi Bank increased 1%, petrochemical maker Saudi Basic Industries added 0.9% and Saudi Telecom was 1.9% higher.The three stocks will be the largest additions to the MSCI Emerging Markets Index me...
Tags: Travel, Saudi Arabia, Gulf, Rupert Neil Bumfrey, Saudi Basic Industries, Saudi Telecom, Al Rajhi Bank, MSCI Emerging Markets Index


#Saudi Telecom issues $1.25 billion debut sukuk - Reuters

Saudi Telecom issues $1.25 billion debut sukuk - Reuters:State-run Saudi Telecom has issued $1.25 billion in international sukuk, or Islamic bonds, the company said on Sunday.The 10-year bonds - the first U.S. dollar denominated sukuk issued by the company - have been arranged by HSBC, JPMorgan, Standard Chartered, Samba, First Abu Dhabi Bank and KFH.Saudi Telecom’s new bonds, which will be listed on the Irish Stock Exchange, offer a 3.89 percent return. [Author: [email protected] (Rupert N...
Tags: Travel, Reuters, Irish Stock Exchange, Rupert Neil Bumfrey, Saudi Telecom, KFH Saudi Telecom


#Saudi Telecom starts marketing debut 10-year dollar sukuk - Reuters

Saudi Telecom starts marketing debut 10-year dollar sukuk - Reuters:State-run Saudi Telecom has started marketing its debut sale of U.S. dollar-denominated sukuk, or Islamic bonds, with an initial price of around 155 basis points over midswaps, a document issued by one of the banks leading the deal showed.Saudi Arabia’s biggest telecommunications operator, rated A1 and A-(minus) by Moody’s and S&P, respectively, is expected to issue the paper later on Thursday, according to the document.The bond...
Tags: Travel, Saudi Arabia, Reuters, Moody, Rupert Neil Bumfrey, Saudi Telecom, State run Saudi Telecom


#Saudi Telecom hires banks for debut dollar sukuk - Reuters

Saudi Telecom hires banks for debut dollar sukuk - Reuters:State-run Saudi Telecom has hired six banks to arrange its first issue of U.S. dollar-denominated sukuk, or Islamic bonds, the company said on Thursday.Saudi corporates are increasingly expected to tap the international debt markets following the inclusion of Saudi government and quasi-government debt in key JP Morgan emerging market bond indexes this year.The recent jumbo inaugural bond by state-owned oil giant Saudi Aramco has also att...
Tags: Travel, Jp Morgan, Reuters, Saudi Aramco, Rupert Neil Bumfrey, Saudi Telecom


Outdoing Uber, Facebook by Letting Saudis Bargain for Deliveries

Once the customer picks out items from a store or restaurant, couriers bid to run the errand, offering a delivery price within a certain range, which shoppers can reject if they find the quotes too expensive. “People like to conduct business by conversing with others,” said Abdulrahman Tarabzouni, chief executive officer of STV, a $500 million venture capital fund anchored by Saudi Telecom that recently took part in Mrsool’s first funding round. Created in 2015, Mrsool tapped into the quirks o...
Tags: Science, STV, Saudi Telecom, Abdulrahman Tarabzouni, Mrsool


Delivery App Outdoes Uber by Letting Saudis Bargain on the Go

Once the customer picks out items from a store or restaurant, couriers bid to run the errand, offering a delivery price within a certain range, which shoppers can reject if they find the quotes too expensive. “People like to conduct business by conversing with others,” said Abdulrahman Tarabzouni, chief executive officer of STV, a $500 million venture capital fund anchored by Saudi Telecom that recently took part in Mrsool’s first funding round. Created in 2015, Mrsool tapped into the quirks o...
Tags: Science, STV, Saudi Telecom, Abdulrahman Tarabzouni, Mrsool


MIDEAST STOCKS-Saudi index rise for third straight day, banks lift Qatar | Reuters

MIDEAST STOCKS-Saudi index rise for third straight day, banks lift Qatar | Reuters:Saudi Arabia’s stock market rose on Tuesday for a third consecutive day, fuelled by gains in energy and telecommunications shares, while Qatari stocks were lifted by financials.Saudi Arabia’s main index added 0.5 percent, with Saudi Telecom rising 1.8 percent and oil refiner Petro Rabigh up 1.4 percent.Saudi market, which has added about 11 percent in the year-to-date, has been buoyed by inflows of foreign funds i...
Tags: Travel, Saudi Arabia, Qatar, Reuters, Riyadh, Rupert Neil Bumfrey, Saudi Telecom, Petro Rabigh


MIDEAST STOCKS-Saudi posts third-day of gains, Dubai weak on Emirates NBD | Reuters

MIDEAST STOCKS-Saudi posts third-day of gains, Dubai weak on Emirates NBD | Reuters:The Saudi index edged up 0.13 percent on Tuesday morning trade, staying in positive territory for the third day running, while Dubai stocks fell, driven by Emirates NBD and Emaar PropertiesThe Saudi market, which has added 10.94 percent in the year-to-date, has been buoyed by inflows of foreign funds in anticipation of Riyadh joining emerging market indexes next year. Recent exchange data indicates those inflows ...
Tags: Travel, Dubai, Reuters, Riyadh, Emirates NBD, Emaar, Rupert Neil Bumfrey, Saudi Telecom, Samba Financial


MIDEAST STOCKS-Saudi rise on inflows, strong earnings, Dubai hit by weak investor confidence.

MIDEAST STOCKS-Saudi rise on inflows, strong earnings, Dubai hit by weak investor confidence.:"Saudi stocks rose to the highest level in more than two years as optimism over increased foreign inflow and strong earnings sustained positive investor sentiment for the Gulf’s biggest market. Latest exchange data showed foreigners bought a record $384 million of Saudi Arabian stocks on a net basis last week, showing sustained international interest in the market. The Tadawul index rose above 8300 poin...
Tags: Travel, Dubai, Bahrain, Gulf, Tadawul, Saudi Arabian, Mobily, Rupert Neil Bumfrey, Saudi Telecom, Bank AlJazira, Ahli United Bank


MIDEAST STOCKS-Saudi continues slide after FTSE decision, Qatar climbs again

MIDEAST STOCKS-Saudi continues slide after FTSE decision, Qatar climbs again:"Saudi Arabia’s stock market closed down on Monday, falling for a third straight day after FTSE Russell decided last week to upgrade the bourse to emerging market status. The rest of the region was mixed but Qatar continued climbing. The Saudi index shed 0.2 percent in active trade, which analysts attributed to moderate profit-taking after a months-long surge preceding FTSE’s decision. The biggest contributor to the ind...
Tags: Travel, Saudi Arabia, Qatar, Russell, NCB Capital, Rupert Neil Bumfrey, Saudi Telecom, Dar Al Arkan


MIDEAST STOCKS-Saudi continues climb, most of Gulf lower on ex-dividends

MIDEAST STOCKS-Saudi continues climb, most of Gulf lower on ex-dividends:"Most Gulf stock markets were soft in early trade on Thursday as several companies in Dubai, Abu Dhabi and Qatar went ex-dividend, while Saudi Arabia continued to climb on optimism over its entry into emerging market indexes. The Saudi index rose 0.8 percent in the first hour, anticipating FTSE’s decision at the end of March on whether to upgrade Riyadh to secondary emerging market status. The biggest market movers included...
Tags: Travel, Saudi Arabia, Qatar, Gulf, Riyadh, Saudi Basic Industries Corp, Dubai Abu Dhabi, Rupert Neil Bumfrey, Saudi Telecom


Qatar's Ooredoo Is Said to Plan Rival Bid for Turk Telekom Owner - Bloomberg

Qatar's Ooredoo Is Said to Plan Rival Bid for Turk Telekom Owner - Bloomberg:"Qatari phone carrier Ooredoo QSC decided to bid for the insolvent owner of Turkey’s biggest telecommunications company to rival an offer from Saudi Telecom Co., three people with knowledge of the matter said. Ooredoo will seek to acquire Ojer Telekomunikasyon AS, or Otas, a special purpose vehicle that owns 55 percent of Turk Telekomunikasyon AS, said the people, who asked not to be identified because the matter is pri...
Tags: Travel, Qatar, Turkey, Myanmar, Algeria, Doha, Ooredoo, Rupert Neil Bumfrey, Saudi Telecom, Saudi Telecom Co, Otas, Turk Telekomunikasyon AS, Ojer Telekomunikasyon AS, Oger Telecom, Turk Telekom Owner Bloomberg, Ooredoo QSC


MIDEAST STOCKS-Petchems, Saudi Telecom beat lift Riyadh; rest of Gulf sluggish

MIDEAST STOCKS-Petchems, Saudi Telecom beat lift Riyadh; rest of Gulf sluggish:"Petrochemical stocks and an earnings beat by Saudi Telecom Co lifted Riyadh’s stock market on Sunday while other Gulf bourses were sluggish, once more ignoring a strong performance by Wall Street on the previous trading day.The Saudi stock index climbed 0.7 percent. Unusually, four of the 10 most active stocks were petrochemical producers after oil prices rose sharply at the end of last week, with Brent crude hitting...
Tags: Travel, Gulf, Reuters, Riyadh, Rupert Neil Bumfrey, Saudi Basic Industries, Saudi Telecom, Saudi Telecom Co, Petchems Saudi Telecom


UPDATE 1-Saudi Telecom asks banks for more time in Turk Telekom debt talks -sources

UPDATE 1-Saudi Telecom asks banks for more time in Turk Telekom debt talks -sources:"Saudi Telecom Company (STC) has asked banks to extend a payment deadline in debt talks related to Turk Telekom, the Turkish fixed-line telecoms company in which STC is interested in buying a stake, sources close to the matter said.Saudi Telecom’s request was made on behalf of Turk Telekom’s parent, Oger Telecom, in which STC has a 35 percent holding, three sources familiar with the situation said.The request to ...
Tags: Travel, Dubai, STC, Rupert Neil Bumfrey, Saudi Telecom, Türk Telekom, Saudi Telecom Company STC, Oger, Oger Telecom