Wednesday 23 April 2014
 
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Saudi Telecom

Saudi Telecom picks banks for debut sukuk

Saudi Telecom Co (STC) , the Gulf's biggest telecom operator by market value, has picked three banks to manage its debut Islamic bond offer, banking sources aware of the transaction told Reuters on Wednesday. It has chosen JP

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Saudi Telecom profits jump 54pc to $637m

Saudi Telecom Co (STC), the Gulf's No 1 telecom operator by market value, reported a 54 percent jump in first-quarter profit as provisions and losses from foreign units fell and it sold some assets. The firm, which competes do

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STC launches advanced 4G network

Saudi Telecom Company (STC) has partnered with top information and communications technology (ICT) solutions provider Huawei to upgrade the current commercial 4th generation LTE TDD network to the advanced LTE-A network. LTE-A net

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STC profit lifted by accounting change

Saudi Telecom Co's (STC) fourth-quarter profit rose more than expected after it changed its method of accounting for an Indian unit, the Gulf's No.1 telecom operator said. Saudi Telecom reported a net profit of 3.62 billio

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Saudi Telecom Q3 net profit surges 73pc

Saudi Telecom (STC), the Gulf's No.2 telecoms operator by market value, has posted a forecast-beating 73 per cent rise in third-quarter profit, attributing the rise to cost savings. Having announced surprise profit falls in ea

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Aegis wins Saudi Telecom contract

Aegis Limited, a global outsourcing and technology services company and part of the $39 billion conglomerate Essar, said its joint venture firm Contact Centre Company (CCC) has won a multi-million dollar contract from STC to provide human resour

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Saudi Telecom to sell Indonesia unit as profit drops

Saudi Telecom Co (STC) has begun steps to sell its Indonesian business, banking sources said on Monday, as the state-owned firm posted a 41-percent drop in second-quarter profit. Saudi Telecom has invested heavily in its Indonesia

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Mobily in $650m financing deal with Ericsson, NSN

Saudi Arabia's Mobily has signed memorandum of understandings with Nokia Siemens Networks and Ericsson to fund the purchase of $650 million of equipment from the firms, the telecom operator said on Sunday.

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High costs, foreign troubles challenge Saudi telecom giant

Saudi Telecom Company (STC) is a firm with a market capitalisation of $21 billion but no permanent chief executive. It has spent billions of dollars to buy foreign assets, but competitive pressures may force it t

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Viva Kuwait signs $270m loan with NBK

Viva Kuwait, an affiliate of Saudi Telecom Co (STC), has signed a $270 million, five-year loan with National Bank of Kuwait (NBK) to finance the operator's network expansion, it said in a statement on Tuesday. This borrowing i

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