News
New Merger Creates Middle East’s Biggest Telecom Company
Saudi Arabia’s PIF and stc Group have combined resources, in a move that will significantly boost network coverage and customer experience.
Saudi Arabian wealth fund PIF has agreed to purchase a 51% stake in Tawal, the country’s biggest telecommunications infrastructure company, with an enterprise value of $5.85 billion. The stake was formerly owned by the Saudi Telecommunications Company (stc Group).
PIF and stc Group will now merge Tawal and Golden Lattice Investment Company (GLIC) into a new entity, forming the “largest regional company in the telecommunication infrastructure sector” with over 30,000 mobile tower sites and annual revenues surpassing $1.3 billion.
The new company will be owned 54% by PIF and 43.1% by stc Group, with GLIC minority shareholders owning the rest of the issued share capital.
Raid Ismail, Head of MENA Direct Investments at PIF said: “Today’s announcement is a significant milestone for the telecommunications industry in Saudi Arabia and the wider region. By bringing together the assets of GLIC and TAWAL, we will establish a consolidated platform on which the telecommunications sector can flourish and give people a better experience to best connect communities and businesses. It is also in line with PIF’s strategy and the Saudi Vision 2030”.
Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42
Combining Tawal and GLIC is seen as a positive stepping-stone to consolidating Saudi Arabia’s tower market and increasing operating efficiencies and excellence to deliver a better experience for customers.
Once operational, network coverage should see a welcome boost, while general connectivity and internet speeds will also be improved.
The merger follows Tawal’s purchase of infrastructure in Bulgaria, Croatia, and Slovenia, making this “Saudi national champion” the region’s biggest independent tower company.
News
The New Nissan Patrol Makes Its Worldwide Debut In Abu Dhabi
The seventh-gen off-roader boasts a bold new design, powerful V6 twin-turbo engine, adaptive air suspension, and plenty of cutting-edge technology.
Yesterday, Nissan revealed the all-new seventh-generation Nissan Patrol to an excited audience in Abu Dhabi. The launch marks a significant milestone for the iconic off-roader, whose unveiling drew an audience of royals, VIPs, top Nissan executives, dealers, media, and prospective buyers.
During the event, Nissan president and CEO Makoto Uchida said: “The all-new Patrol is a prime example of the exciting and empowering models we are delivering under our global business plan, The Arc. The seventh generation is a bold leap forward, blending unparalleled performance, cutting-edge technology, and a commanding presence to redefine what an SUV can be”.
A Legendary Off-Roader, Reinvented
The all-new Nissan Patrol has updated styling that exudes strength and durability. The bold exterior, paired with 22-inch alloy wheels, comes in seven distinctive colors, four of which are two-tone combinations, allowing drivers to customize the Patrol to suit their personal style.
Enhanced Power And Performance
This latest Nissan Patrol is the most powerful version of the off-roader yet, thanks to a newly developed 3.5-liter V6 twin-turbo engine. This powerplant delivers 425 horsepower and 700 Nm of torque, channeled through a sophisticated 9-speed automatic transmission.
The Patrol’s dynamic suspension utilizes advanced e-damper technology that adapts automatically to varying driving conditions. Meanwhile, adaptive air suspension allows drivers to adjust the vehicle’s ride height, ensuring a seamless transition between highway driving and challenging off-road conditions.
Luxurious Interior And Advanced Technology
Inside, the all-new Patrol offers a spacious, luxurious cabin. A panoramic sunroof lets in natural light, creating an airy and inviting environment. Infotainment includes a 28.6-inch main display, complemented by two 14.3-inch displays for navigation, media, and vehicle settings. Rear passengers can enjoy (optional) dual 12.8-inch screens supporting Miracast, HDMI, and USB inputs.
The Patrol’s sound system features 12 Klipsch Premium speakers, delivering exceptional audio quality. Connectivity comes courtesy of NissanConnect 2.0 and Google Built-In, providing seamless smartphone integration for everyone inside.
Also Read: Initial Trials Of Dubai’s Driverless Evocargo Trucks Completed
A final interesting feature of the new Patrol is its Biometric Cooling. The system uses an infrared sensor to monitor the body temperature of front and second-row occupants, automatically adjusting airflow to provide optimal comfort.
The all-new Nissan Patrol will soon be available across the UAE, Saudi Arabia, and the rest of the Middle East, with the first orders arriving from November 1, 2024.
The New Nissan Patrol Makes Its Worldwide Debut In Abu Dhabi
How Overreliance On Connectivity Compromises Home Privacy
The Android 15 Source Code Has Been Released
Saudi Arabian Fintech Hakbah Partners With Tawuniya Insurance
Instagram Has Started Rolling Out Comments For Stories
Saudi Arabia To Host Sixth Halo Space Test Flight In September
Insilico Develops The World’s First Fully AI-Generated Drug
Odoo Middle East Partners With Hotdesk Technologies
WhatsApp Update Will Debut AI Voice Mode With 10 Variants
