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STC Agrees with Ericsson, Huawei, Nokia to Deploy 5G Network

STC CEO Nasser al-Nasser and KT(Korea Telecom) representative (STC)
STC CEO Nasser al-Nasser and KT(Korea Telecom) representative (STC)
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STC Agrees with Ericsson, Huawei, Nokia to Deploy 5G Network

STC CEO Nasser al-Nasser and KT(Korea Telecom) representative (STC)
STC CEO Nasser al-Nasser and KT(Korea Telecom) representative (STC)

Saudi Telecom Company (STC) signed three major deals to deploy 5G network in Saudi Arabia and develop services with Nokia, Huawei, and Ericsson at the Mobile World Congress in Barcelona.

Nokia's equipment, software and services will be used to set up a 5G network first in the western and southern part of Saudi Arabia as part of STC’s strategy in conjunction with Vision 2030 and National Transformation Plan (NTP) 2020. The rollout phase is already ongoing and is expected to be completed by end of 2020.

STC subscribers will have access to ultra-high bandwidth and low latency services, as well as new applications in areas such as virtual reality, augmented reality and artificial intelligence.

STC will modernize its existing LTE network through latest technologies such as PS (Packet Switch) core, Massive MIMO, 15-band antenna and multi-band technology.

STC CEO Nasser al-Nasser said: "We are excited to work with Nokia on the Aspiration project which will help us realize our dream to be the first one to launch 5G services in the region.”

He explained that once completed, the subscribers will be able to enjoy innovative high bandwidth consuming use cases, adding that the project underscores STC’s support and commitment to NTP 2020 and Vision 2030 to drive Saudi Arabia's digital transformation into a knowledge economy.

“The leadership of our longstanding partner, Nokia, in the development of 5G is crucial for our launch of 5G services.”

“The agreements will contribute to enhancing the company's products and services, and expanding its market share in the ICT market,” said Senior VP of Technology and Operations Unit Haitham al-Faraj.

Procurement and Support Services Sector VP Emad al-Aoudah also indicated that STC has signed multiple Rawafed Local Content agreements under its 5G Aspiration Project with strategic partners.

Earlier, STC signed a Memorandum of Understanding (MoU) with KT (Korea Telecom) at the Mobile World Congress 2019 to collaborate on new technology areas.

As a leading telecommunication company in Korea, KT will cooperate with STC in various business areas and the two will generate and maximize the synergy effect by combining KT’s state-of-the-art ICT technologies such as 5G network, GiGA Wire, GiGAeyes, VR and STC’s Group business expertise and strong influence in MENA region.

Nasser said the collaboration is a great opportunity for STC and introduce KT’s field proven solutions to Saudi Arabia.

“I am hoping our successful cooperation models could expand to STC’s foreign subsidiaries and other MENA countries.”

Meanwhile, STC launched the first internal network for 5G at King Fahd University of Petroleum and Minerals (KFUPM), at the presence of the dean Dr. Sahl Abd al-Jawad.

The network, launched experimentally in the university at its headquarters in Dhahran, is the first of its kind in the Kingdom and the region. Infrastructure VP Khaled al-Darab said that 5G will help the university build a strategic partnership with the company to develop new services and innovations.

“The company has achieved high speeds of up to 1.3gb/s during site test trials, and the site will be operational in the second quarter of this year.”

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Business

Saudi Commerce Minister: Consumer Protection Law Guarantees Rights, Ensures Justice

The Saudi Cabinet meets in Riyadh on Tuesday. (SPA)
The Saudi Cabinet meets in Riyadh on Tuesday. (SPA)
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Saudi Commerce Minister: Consumer Protection Law Guarantees Rights, Ensures Justice

The Saudi Cabinet meets in Riyadh on Tuesday. (SPA)
The Saudi Cabinet meets in Riyadh on Tuesday. (SPA)

Saudi Minister of Commerce Dr. Majid Al-Kassabi stressed that the Cabinet's approval of the Consumer Protection Law on Tuesday is a significant legislative step toward strengthening consumer rights in the Kingdom.

The step establishes clear regulatory guarantees, regulating the relationship between consumers and commercial establishments, and promoting fair trade practices, he added.

Al-Kassabi explained that this is the first comprehensive consumer protection law in Saudi Arabia, integrating the jurisdictions of more than 20 government entities in its implementation to boost oversight efficiency and strengthen the protection of consumer rights.

He noted that the law includes provisions regulating contracts and compensation for damages, as well as protecting the most vulnerable groups, including children, the elderly, and persons with disabilities. It also includes measures to curb abnormal price increases during crises and extraordinary circumstances, which helps ensure market stability.

The law will take effect 180 days after its publication in the Official Gazette. It will replace the Anti-Commercial Fraud Law, the E-Commerce Law, and the Commercial Data Law.

Protection against abnormal price increases

The law established exceptional measures to protect against abnormal price increases during extraordinary circumstances, crises, and pandemics, including price fixing, setting a cap on profit margins, and obtaining prior approval from the competent authority before raising prices.

The Ministry of Commerce said the law addresses commercial practices that influence consumer decisions, such as imposing burdensome restrictions, threatening or coercing consumers, or charging them fees for using a specific payment method.

The ministry added that the law prohibits misleading practices or attempts to engage in them, including providing false information that leads to deception, concealing relevant information, presenting it ambiguously, or offering adulterated products with the intent of supplying them to consumers.

Enabling consumers to compare products and services

The law permits comparative advertising among economic operators to help consumers compare products and services fairly and transparently. It also strengthens consumer protection for off-premises contracts by subjecting them to safeguards similar to those applied in e-commerce.

The ministry noted that the law established special provisions to protect the most vulnerable groups and prohibited advertisements directed at children from containing any messages that could be harmful to them.

The law imposes strict penalties on violators, including fines of up to 8 million riyals ($2.1 million), prison sentences of up to two years, suspension of business activities, seizure of non-compliant products, and the publication of consumer warnings. It also introduces streamlined dispute resolution mechanisms for small claims to ensure swifter access to justice.

Business

Oil Rebounds as Hormuz Shipping Attacks Blunt Hopes for Iran Truce

Oil storage tanks and facilities of a Sinopec plant in Shanghai, China, March 26, 2026. (Reuters)
Oil storage tanks and facilities of a Sinopec plant in Shanghai, China, March 26, 2026. (Reuters)
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Oil Rebounds as Hormuz Shipping Attacks Blunt Hopes for Iran Truce

Oil storage tanks and facilities of a Sinopec plant in Shanghai, China, March 26, 2026. (Reuters)
Oil storage tanks and facilities of a Sinopec plant in Shanghai, China, March 26, 2026. (Reuters)

Oil prices rose on Wednesday from the previous session's two-month lows, as the market swung between hopes for a de-escalation in the US-Israeli war on Iran and concerns about attacks on shipping in the Strait of Hormuz.

Also on Wednesday, a regional governor said a drone attack caused a fire in the port area of Ust-Luga by the Baltic Sea in northwest Russia, injuring three workers.

Brent futures climbed $1.04, or 1.1%, to $92.53 a barrel at 0420 GMT. US ‌West Texas Intermediate ‌crude rose 67 cents, or 0.8%, to $86.71.

Recent data showed little ‌sign ⁠of fewer attacks ⁠in November, after 37 ships were attacked in October, the highest monthly total since the start of the Middle East war, according to data from the Washington Institute for Near East Policy.

"There has been an increase of vessel attacks in the Gulf shipping lanes amidst uncertainty of the diplomacy talks," said June Goh, senior analyst at Sparta Commodities.

"With the US midterms well over and more crude flows out of the Middle East, there seems ⁠to be more bearish tones to the oil price."

She added that ‌the top driver for oil is the ‌extent to which Iran will come to the table with US demands to reach a diplomatic agreement.

A ‌tanker was struck northeast of Lima in Oman, the United Kingdom Maritime Trade ‌Operations agency said on Tuesday. Iran's Revolutionary Guards Navy said in a separate statement on Tuesday that two tankers caught fire after hitting naval mines on the "unauthorized route" in the strait.

"Even in the event a deal is struck, an increase in flows through the waterway would still depend ‌on mine clearance, insurance costs and whether or not shipowners would even be willing to take the risk," LSEG Oil Research ⁠said in a ⁠November 10 note.

In the previous session, oil prices initially fell by more than $3 a barrel after US officials downplayed the need for further military strikes against Iran, though some of the losses were clawed back after an Iranian security official said no talks were taking place between the two sides.

Meanwhile, US crude oil stocks rose in the latest completed week, market sources said, citing data from the American Petroleum Institute. Crude stocks rose by 9 million barrels for the week that ended on November 6, the sources said.

In Russia, oil refining capacity has been reduced by about 30% since late October following renewed Ukrainian drone attacks, industry sources said.

Russian and Ukrainian officials met in Abu Dhabi on Tuesday for their first peace talks since February as US President Donald Trump's envoys launched a fresh push to end the war.

Business

Saudi Arabia, Türkiye Sign MoU on Cooperation in Electricity Projects

(From left to right) Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Turkish President Recep Tayyip Erdogan and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar at the signing ceremony on Tuesday. (SPA)
(From left to right) Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Turkish President Recep Tayyip Erdogan and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar at the signing ceremony on Tuesday. (SPA)
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Saudi Arabia, Türkiye Sign MoU on Cooperation in Electricity Projects

(From left to right) Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Turkish President Recep Tayyip Erdogan and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar at the signing ceremony on Tuesday. (SPA)
(From left to right) Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Turkish President Recep Tayyip Erdogan and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar at the signing ceremony on Tuesday. (SPA)

Saudi Arabia and Türkiye signed on Tuesday a Memorandum of Understanding on Cooperation in Electricity Projects.

It was signed by Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz Al Saud and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar on the sidelines of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31) in Antalya. Turkish President Recep Tayyip Erdogan oversaw the signing ceremony.

The MoU builds on the Agreement between the Saudi and Turkish governments on Cooperation in the Field of Renewable Energy, signed on February 3 and that entered into force on October 21.

The Agreement provides for the development of renewable energy projects with a total installed capacity of 5,000 MWe in two phases, to be implemented by ACWA Power, the investor company designated by the Kingdom of Saudi Arabia. The first phase envisages 2,000 MWe, while the second phase envisages an additional 3,000 MWe of renewable energy capacity.

Progress has been achieved in the implementation of the first-phase projects, while efforts towards the realization of the second-phase projects have reached an advanced stage.

The second phase envisages the development of wind power plants, supported by high-voltage direct current (HVDC) transmission infrastructure and battery energy storage systems.

These investments are expected to contribute to strengthening Türkiye’s renewable energy capacity, enhancing grid infrastructure and flexibility, and further deepening the strategic energy and investment partnership between Riyadh and Ankara.