Tata Communications, the technology and telecoms arm of Indian conglomerate Tata Group, secured a licence to operate in Saudi Arabia as the company looks to strengthen its foothold in the Middle East.
The company has received a “Type B” licence that will allow it to provide internet and telecom-related services to local enterprises, the company said in a statement.
“By securing this telecom licence in KSA, we will be able to seamlessly bring carrier-neutral services like internet connectivity, public/private cloud, cyber security, borderless mobility and more such services to the region,” Vaneet Mehta, Tata Communications' associate vice-president and regional head for the Middle East, Central Asia & Africa, said. “This will help simplify the digital experience for our customers and aid them in transforming their businesses in the new normal.”
Saudi Arabia, the Arab world’s largest economy, is continuing to open its economy to foreign investors to support its economic diversification plans. During the first quarter of this year, the number of investor licences granted to international companies to operate in the kingdom rose 19 per cent to 348, according to data released by the Ministry of Investment of Saudi Arabia in May.
“The evolving business regulations in KSA are increasingly making it an epicentre for businesses globally to invest in the region,” Tata Communications said. “The Type B licence enables Tata Communications to expand its reach in the Middle East, leveraging its global expertise and capabilities coupled with regional knowledge and experience to cater to new customer requirements.”
Tata Communications is listed on the Bombay Stock Exchange and on the National Stock Exchange of India. Last month, it declared a loss of 1.47 billion Indian rupees (Dh72.4 million/$19.7m) on revenue of 15.18bn rupees for the year to March 31.
The company owns and operates the world’s only subsea network for internet transmission, helping businesses to reach more than 200 countries and territories.
BMW M5 specs
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Transmission: 8-speed auto
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On sale: Now
Price: From Dh650,000
APPLE IPAD MINI (A17 PRO)
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Race card
5pm: Maiden (PA) Dh80,000 1,600m
5.30pm: Maiden (PA) Dh80,000 1,600m
6pm: Arabian Triple Crown Round-2 Group 3 (PA) Dh300,000 2,200m
6.30pm: Liwa Oaisi Group 2 (PA) Dh300,000 1,400m
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,600m
7.30pm: Handicap (TB) Dh100,000 1,600m
The National selections: 5pm: Flit Al Maury, 5.30pm: Sadah, 6pm: RB Seqondtonone, 6.30pm: RB Money To Burn, 7pm: SS Jalmood, 7.30pm: Dalaalaat
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Profile box
Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
THE DEALS
Hamilton $60m x 2 = $120m
Vettel $45m x 2 = $90m
Ricciardo $35m x 2 = $70m
Verstappen $55m x 3 = $165m
Leclerc $20m x 2 = $40m
TOTAL $485m
Takreem Awards winners 2021
Corporate Leadership: Carl Bistany (Lebanon)
Cultural Excellence: Hoor Al Qasimi (UAE)
Environmental Development and Sustainability: Bkerzay (Lebanon)
Environmental Development and Sustainability: Raya Ani (Iraq)
Humanitarian and Civic Services: Women’s Programs Association (Lebanon)
Humanitarian and Civic Services: Osamah Al Thini (Libya)
Excellence in Education: World Innovation Summit for Education (WISE) (Qatar)
Outstanding Arab Woman: Balghis Badri (Sudan)
Scientific and Technological Achievement: Mohamed Slim Alouini (KSA)
Young Entrepreneur: Omar Itani (Lebanon)
Lifetime Achievement: Suad Al Amiry (Palestine)
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
INDIA V SOUTH AFRICA
First Test: October 2-6, at Visakhapatnam
Second Test: October 10-14, at Maharashtra
Third Test: October 19-23, at Ranchi
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
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