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stc Group Announces Success of Advanced 5G mmWave Trials Exceeding 10Gbps Speeds

A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)
A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)
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stc Group Announces Success of Advanced 5G mmWave Trials Exceeding 10Gbps Speeds

A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)
A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)

stc Group announced on Tuesday the successful execution of the first live trials of advanced 5G technology in the Middle East and North Africa, reaching high speeds exceeding 10Gbps using the Millimeter Wave (mmWave) technology, SPA said.
The step signifies a new stage in facilitating digital transformation in the region and places the Kingdom of Saudi Arabia at the forefront of advanced nations in the field of telecommunications.
These trials come as a complement to a robust infrastructure of the advanced 5.5G network in the Kingdom, enabling data transfer at new record speeds in a live working environment.
It will pave the way for a qualitative leap in delivering new services and unprecedented customer experiences, while also opening new communication horizons beyond spatial and temporal boundaries.
The success of these trials is a crucial part of stc's “Dare” strategy, which aims at providing access to new services and elevating customer experiences to new levels, in line with the Saudi Vision 2030 and supporting digital transformation in the region.

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EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
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EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo

The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said.

The program, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies.

The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilize a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, Reuters quoted EU officials as saying.

The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said.

The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering.

The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defense technologies, robotics and advanced materials, the officials said.