STC-GROUP
25.5.2022 09:32:05 CEST | Business Wire | Press release
stc Group, the leading national digital enabler announced the establishment of “Alibaba Cloud” in Riyadh, KSA, for high-capacity cloud services in partnership with the Chinese technology giant, “Alibaba Group”, eWTP Arabia for Technical Innovation Ltd., the Saudi Company for Artificial Intelligence (SCAI), and the Saudi Information Technology Company (SITE).
The establishment of the new company in the Saudi capital, Riyadh, came in response to the significant increase in demand for cloud computing services and solutions in the region. The company will provide advanced cloud computing services to companies operating in the Kingdom of Saudi Arabia, ensuring that they employ the highest standards of security and protection.
The new company’s capital will amount to SAR 894 million, and the new company will benefit from the distinguished position of stc Group in the services and technology solutions sector and will employ the best talent and expertise to support the local capabilities of the Kingdom and enable it to enhance digital development and build an advanced ecosystem capable of meeting the future needs of the Kingdom. Alibaba, one of the best providers of cloud computing services and solutions in the world, will offer a wide range of cloud computing services and solutions, a step that will enable local companies and institutions to digitize their businesses, employ the technologies of the Fourth Industrial Revolution, raise work standards and enhance businesses.
In line with the Kingdom’s efforts to enhance economic diversification and stimulate investment opportunities in the cloud computing sector, the new company will contribute to providing quality jobs, transferring knowledge and expertise to the Kingdom, and ensuring a safe work environment for entrepreneurs in the region.
stc’s investment with Alibaba for cloud computing services, in cloud computing solutions in Riyadh, reflects the company’s future vision and its great role in pushing digital transformation efforts in the Kingdom of Saudi Arabia, and its commitment to forging strong partnerships with leading technology companies around the world in line with the Kingdom’s 2030 vision to attract foreign and international investments into the Kingdom, creating a secure environment for entrepreneurs, and enhancing information security by protecting data internally in the Kingdom.
The establishment of the company specialized in cloud computing services and solutions in Saudi Arabia will contribute to developing the Kingdom’s digital infrastructure and preparing it to provide the latest digital data storage services and solutions and ensure its protection and security, which will enhance the Kingdom’s ability to provide cloud computing services to global companies.
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005407/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ouster Releases The REV8 OS Family: The World’s First Native Color Lidar4.5.2026 12:00:00 CEST | Press release
Powered by the Company’s breakthrough L4 and L4 Max Ouster SiliconFeatures the first patented native color lidar sensors with point for point 3D color visionIntroduces flagship OS1 Max sensor with double the range and resolution of Rev7Auto-grade, cybersecure, and designed for functional-safety Ouster, Inc. (Nasdaq: OUST) (“Ouster” or the “Company”), a leader in sensing and perception for Physical AI, announced today its new family of OS digital lidar sensors, Rev8, powered by its next-generation L4 Ouster Silicon. Ouster Rev8 features the world’s first patented native color lidar sensors, provides up to double the range and resolution of the previous generation, and is designed for functional safety, reliability, affordability, and scale. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260504718668/en/ The REV8 OS Family: The World's First Native Color Lidar. L4 Ouster Silicon: Ouster’s breakthrough L4 architecture doubles t
NIQ Research Reveals New Rules of Commerce: AI Is Beginning to Decide What Consumers Buy4.5.2026 12:00:00 CEST | Press release
NIQ’s latest global report—The Commerce Revolution: Where East Meets West—examines how commerce intelligence is helping brands, retailers, and platforms navigate a rapidly converging global landscapeAI is rapidly becoming the buyer, not just the tool—reshaping how products are discovered, chosen, and purchasedThe next wave of retail growth isn’t coming from traditional e‑commerce, but from live, social, quick, and AI‑driven commerce models scaling from East to West NielsenIQ (NYSE: NIQ) has announced the release of its new global report, The Commerce Revolution: Where East Meets West, which examines how Eastern-led commerce innovation and Western retail media monetization are colliding to reshape global consumer commerce. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260428841965/en/ The report finds live, social, and quick commerce—long scaled across Asia—now drive most incremental digital growth worldwide, while Western m
OPAQUE Acquires Abu Dhabi-Developed Cryptographic AI Technology from TII, Extending Confidential AI Across the Full Lifecycle with Post-Quantum Protection4.5.2026 10:23:00 CEST | Press release
New capabilities make it possible to safely deploy AI agents on the most sensitive and regulated data — with hardware-enforced, verifiable rules and cryptographic guarantees built to withstand quantum computing OPAQUE, the Confidential AI company headquartered in San Francisco, California, today announced it has acquired advanced cryptographic AI technologies from the Technology Innovation Institute (TII), the applied research pillar of Abu Dhabi's Advanced Technology Research Council (ATRC). The acquired technology — already proven in real-world use cases — adds two critical capabilities to OPAQUE's platform: confidential AI model training powered by advanced cryptographic techniques such as multi-party computation and fully homomorphic encryption, as well as post-quantum cryptographic protections. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260504705475/en/ OPAQUE Acquires Abu Dhabi-Developed Cryptographic AI Technology
Forbes Includes Philip Morris International in Its Net Zero Leaders List4.5.2026 10:00:00 CEST | Press release
PMI ranks number 4, marking its fourth consecutive year of recognition for making significant strides toward reaching net zero carbon footprint goals Philip Morris International (PMI) (NYSE: PM) has been included once more in Forbes’ 2026 Net Zero Leaders1 list, recognizing its leadership and continued progress in advancing climate action across its global operations. The Forbes Net Zero Leaders list highlights U.S. publicly listed companies best positioned to achieve net zero emissions by 2050, based on measurable performance rather than commitments alone. Despite most companies aligning to a 2050 net zero horizon, PMI remains committed to reaching net zero by 2040, as set out in its Climate Transition Plan published in 2025. This aspiration reflects PMI’s confidence in collective progress, trust that ambition drives innovation, that policy will evolve to enable change, and collaboration will accelerate system‑wide transformation. Above all, it signals hope: that by acting early and h
Mobius Renewables Acquires Air Liquide’s Biogas Production Activities in the United States, France, Norway, and Sweden4.5.2026 08:45:00 CEST | Press release
Mobius Renewables today announced the closing of the acquisition of Air Liquide’s biogas production activities in the United States, France, Norway, and Sweden. The acquisition includes six operating landfill gas-to-RNG (Renewable Natural Gas) sites in the U.S., five operating farm waste sites in France, and a 51% interest in Redo Biosolutions with production and distribution assets across Norway and Sweden. The acquired portfolio will be a meaningful addition to Mobius Renewables (“the Company”), a global, vertically integrated low carbon fuels platform established in December 2025 by funds managed by IFM Investors to accelerate the development, production, distribution, and commercialization of RNG at scale across North America and Europe. The Company is headquartered in Houston, Texas with additional offices in the United States, France, Norway, and Sweden. With this transaction, the establishment of Mobius Renewables is complete, and GreenGasUSA and the acquired portfolio will oper
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom