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FINANCIAL NEWS
Saudi Knowledge Economic City signs agreement with STC
18 Dec 2013
(MENAFN) Knowledge Economic City (KEC) has announced the signing of a partnership agreement with Saudi Telecom Company (STC) to link and develop the telecommunications infrastructure for the city, according to Arab News.
The agreement aims to link 40 kilometers in the KEC to the fiber technology, reported Tadawul website.
The two parties built the agreement on BOT basis (Build/Operate/Transfer of Ownership). STC will be responsible for developing a smart infrastructure network, operating it, and then transfering its ownership by the end of the concession period to KEC.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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