STC-GROUP
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
Quectel Announces Industry First 5G-Advanced 3GPP R18 Automotive-Grade Cellular Module, Delivering Unmatched Performance and Reliability2.1.2026 18:00:00 CET | Press release
Quectel Wireless Solutions, an end-to-end global IoT solutions provider, today announces the launch of the world's first 5G-advanced (5G-A) automotive-grade cellular module, the AR588MA, establishing it as the industry's highest-performing and most reliable wireless communication product for vehicles. Based on MediaTek's latest-generation MT2739 platform, the AR588MA supports 5G-A communication technology and is the world's first to comply with the 3GPP R18 standard protocol. The module also features both NB-NTN and NR-NTN satellite communication capabilities, supports Dual SIM Dual Active (DSDA) technology, offering improved stability and reliability on cellular connections and includes intelligent driving scenario recognition. Designed in compliance with the AEC-Q104 Grade 2 automotive standard, it delivers faster, more stable connectivity and reliable security for in-vehicle communication and benefiting the on-roof applications like smart antenna for automotive with higher temperatu
Interactive Brokers’ Individual and Hedge Fund Clients Outperformed the S&P 500 on Average in 20252.1.2026 16:00:00 CET | Press release
Lower costs, global market access, and efficient execution contributed to stronger client outcomes. Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced that its clients outperformed the S&P 500 Index in 2025, reflecting the benefits of cost efficiency, execution quality, and broad access to global markets. In 2025, Interactive Brokers’ individual clients achieved an average return of 19.20%, compared with the 17.9% return of the S&P 500 Index. During the same period, Interactive Brokers’ hedge fund clients achieved an average return of 28.91%, outperforming the index by approximately 11 percentage points. These results demonstrate how Interactive Brokers helps enhance client returns across the investment lifecycle. Global market access enables clients to allocate capital across various regions and asset classes, while lower trading and financing costs, along with efficient execution, help IBKR investors retain more of their returns over time. “Inv
Aeromexico Repeats as Most On-Time Global Airline; Qatar Airways Claims Platinum Award2.1.2026 11:00:00 CET | Press release
Virgin Atlantic wins new award as most improved airline for on-time performance Aeromexico maintained a 90.02% on-time performance to claim the world's most on-time global airline title for the second consecutive year, according to Cirium's 2025 On-Time Performance Review released today. The Mexican carrier becomes only the second airline to achieve consecutive global wins since Cirium launched the program in 2009, operating 188,859 flights across 23 countries while maintaining industry-leading schedule reliability. Aeromexico Holds Global Lead; Regional Champions Crowned Aeromexico secured the global airline title with 90.02% on-time performance, holding off strong competition from Saudia in second place with 86.53% and SAS with 86.09% in third. The margin between first and third place was 3.93 percentage points, reflecting the strong performance of Aeromexico in 2025. Regional winners included: North America: Delta Air Lines won for the fifth consecutive year with 80.90% on-time perf
Samsung Bioepis Begins Commercialization of BYOOVIZ®, Biosimilar to Lucentis (Ranibizumab), in Europe2.1.2026 08:00:00 CET | Press release
Samsung Bioepis completes full transfer of commercial rights from Biogen back to Samsung Bioepis for BYOOVIZ®BYOOVIZ becomes the fourth biosimilar directly commercialized by Samsung Bioepis in Europe, following EPYSQLI® (eculizumab), OBODENCE® (denosumab), and XBRYK® (denosumab)Pre-filled syringe (PFS) presentation to become available in Europe in the second quarter of 2026 Samsung Bioepis Co., Ltd. today announced that the company has begun direct commercialization of BYOOVIZ®, a biosimilar to Lucentis1 (ranibizumab), in Europe. Samsung Bioepis has been working to ensure seamless transfer of commercial rights from Biogen back to Samsung Bioepis, and BYOOVIZ will now be available as a Samsung Bioepis brand across multiple European countries. “This is a significant milestone for Samsung Bioepis as the company continues to strengthen its presence in Europe by expanding its portfolio of directly commercialized products. Leveraging the past three years of experience with EPYSQLI (eculizuma
Cessna Citation Ascend Enters Into Service, Redefining Performance and Cabin Experience in the Midsize Business Jet Market31.12.2025 15:00:00 CET | Press release
The Cessna Citation Ascend achieved a major milestone as the first retail customer took delivery of the midsize business jet on Tuesday, December 30, marking the aircraft’s entry into service. Announced in 2023 the aircraft boasts an entirely new cockpit, improved performance and a luxurious flat floor cabin. The Citation Ascend received type certification from the Federal Aviation Administration (FAA) in November 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251231586042/en/ Cessna Citation Ascend enters into service, redefining performance and cabin experience in the midsize business jet market. (Photo credit: Textron Aviation) The Cessna Citation Ascend is designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company. “The first Citation Ascend delivery underscores Textron Aviation’s commitment to redefining the midsize segment with an aircraft that blends innovation, efficiency and unmatch
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