
stc Bahrain announces successful landing of 45,000km 2Africa submarine cable
The telecommunications provider has invested US$205 million in the 2Africa Pearls submarine cable system, which spans 45,000 kilometres and offers a design capacity of 180 terabits per second.
The cable landing represents a milestone in global connectivity and is expected to reinforce Bahrain's position as an ICT hub whilst accelerating digital transformation across connected countries.
According to the Bahrain News Agency, the infrastructure will enable faster adoption of new technologies and digital solutions throughout the region.
The cable system's capacity and low latency are anticipated to serve as a catalyst for innovation and growth in emerging technologies including 5G, artificial intelligence, and the Internet of Things.
The project is expected to provide the infrastructure needed to support data-intensive applications and services across multiple sectors.
stc Bahrain indicated that the investment will attract international investment opportunities, create employment, and boost innovation across various industries.
The 2Africa submarine cable system connects multiple continents and represents one of the most ambitious telecommunications infrastructure projects undertaken globally.
The landing in Bahrain forms part of the broader 2Africa project, which aims to improve internet connectivity and digital infrastructure across participating nations.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
13 minutes ago
- Zawya
Oman: Sohar International, Liva sign $163mln loan deal
Muscat – In line with its commitment to enabling strategic partnerships that support sustainable business growth, Sohar International has signed a consolidated loan agreement with Liva Group, a leading multi-line insurance provider operating across the GCC. The RO63mn facility reflects Sohar International's growing role as a trusted financial partner for regional corporates seeking to optimise capital structures and scale with resilience. The signing ceremony took place at Sohar International's Waterfront Office and was attended by Abdulwahid Mohamed al Murshidi, Chief Executive Officer of Sohar International, and Martin Rueegg, Chief Executive Officer of Liva Group. Commenting on the strategic partnership, Abdulwahid Mohamed al Murshidi, Chief Executive Officer of Sohar International, stated: 'At Sohar International, we are focused on fostering strategic partnerships that create long-term value. Our agreement with Liva Group is a testament to our commitment to supporting ambitious, high-performing organizations with customised financial solutions that drive sustainable growth. 'This facility not only enhances Liva's financial flexibility but also reflects our shared commitment for regional progress, innovation, and long-term value creation. We are proud to partner with Liva on its journey to scale, diversify, and lead with purpose.' The facility consolidates Liva's existing borrowings into a single, streamlined structure – reducing financing costs, enhancing cash flow management, and increasing agility in capital deployment across the Group's operations. The agreement also provides a robust financial framework aligned with Liva's long-term growth strategy, particularly as it expands its presence across key regional markets. Martin Rueegg, Chief Executive Officer of Liva Group, added that this agreement is about more than refinancing; it represents a proactive step in strengthening our capital efficiency and readiness for the future. 'Sohar International stood out as a strategic partner that understands our operational landscape and shares our ambitions around regional integration, digital innovation, and customer-centric growth.' This partnership further strengthens Sohar International's growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as Saudi Arabia – where both institutions share ambitious strategic goals. This partnership further strengthens Sohar International's growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as Saudi Arabia. This collaboration sets the stage for broader financial engagement, including the delivery of advanced, tailored banking solutions that support Liva Group's evolving priorities across its core markets. By forging such strategic alliances, Sohar International reaffirms its position as a trusted partner of choice – empowering clients to unlock growth opportunities, accelerate regional expansion, and contribute meaningfully to the economic transformation of the wider region. © Apex Press and Publishing Provided by SyndiGate Media Inc. (


Zawya
13 minutes ago
- Zawya
Oman: $155mln bonds at 4.3% to attract investors
MUSCAT - The Government of the Sultanate of Oman, through the Central Bank of Oman (CBO), has announced the 75th issuance of Government Development Bonds (GDBs) worth RO 60 million, with an additional RO 30 million greenshoe option, to be auctioned on Tuesday, July 22, 2025. Carrying a competitive coupon rate of 4.3 per cent per annum, the bonds will mature in three years, on July 24, 2028, offering semi-annual interest payments. The first coupon will be disbursed on January 24, 2026, making this issuance an attractive vehicle for both income-focused investors and those seeking a safe, sovereign-backed opportunity. According to the CBO, this offering is open to all categories of investors, including both residents and non-residents, regardless of nationality, making it a potential magnet for regional and international capital. The bonds are fully backed by the Government of Oman and serve as unconditional obligations, providing investors with a high level of capital security. The auction aligns with the government's wider efforts to deepen local financial markets, promote financial inclusion, and offer diverse investment instruments in line with Oman Vision 2040 goals. With interest rates remaining volatile globally, Oman's offering at 4.3% is expected to garner keen interest amid a tightening international credit environment. 'This issuance sends a strong signal about the resilience and transparency of Oman's financial sector,' said a senior market analyst based in Muscat. 'Government Development Bonds are a preferred instrument for institutional investors looking for low-risk and stable returns.' The subscription window opens on Tuesday, July 15, 2025, and closes on Monday, July 21, 2025, allowing investors a six-day period to apply. Participation is facilitated through licensed commercial banks operating in the Sultanate, who will handle application submissions. The minimum investment required is RO 100, making it accessible to retail investors as well. Beyond attractive returns and safety, the bonds offer collateral advantages—they can be pledged as security for loans from licensed banks. Additionally, the bonds will be listed on the Muscat Stock Exchange (MSX), providing liquidity and a secondary market for early exits. To participate, investors must possess an MCD Investor Code, which can be obtained through the Muscat Clearing and Depository Company (MCD) website or the Oman Stock Exchange at least one day prior to the application deadline. Applicants must also provide a bank account registered with MCD to receive interest payments. The inclusion of a RO 30 million greenshoe option—an additional allotment in case of oversubscription—indicates confidence that market demand could exceed the initial offer. Previous GDB issuances in Oman have witnessed strong investor participation, especially from pension funds, corporates, and high-net-worth individuals seeking fixed-income opportunities. This 75th issuance comes at a time when Oman continues to focus on economic diversification, fiscal reform, and building investor trust in its capital markets. With steady yields, guaranteed government backing, and full tradability on the MSX, the GDBs are set to serve as a benchmark for financial instruments in the region. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (


Zawya
13 minutes ago
- Zawya
Federal Tax Authority emphasizes importance of promptly registering for Corporate Tax
H.E. Khalid Al Bustani: The number of registrations for Corporate Tax has increased to 576,000 registrants Abu Dhabi, UAE: The Federal Tax Authority (FTA) confirmed an increase in the number of beneficiaries from the Corporate Tax Late Registration Penalty Waiver initiative applicable to Taxable Persons and certain categories of Exempt Persons required to register with the FTA who were late in submitting their Corporate Tax registration applications within the specified deadline. The FTA clarified that in order to be exempt from the AED 10,000 'Late Registration Penalty' for Corporate Tax, Taxable Persons (or Exempt Persons required to register) must submit their Tax Return (or annual declaration) no later than seven months from the end of their first Tax Period (or the first Financial Year), instead of nine months. The Late Registration Penalty Waiver initiative applies only to the first Tax Period of the Taxable Person (or Exempt Person required to register), regardless of whether the due date of the first Tax Return (or annual declaration) was before or after the new decision came into effect. H.E. Khalid Ali Al Bustani, Director General of the Federal Tax Authority, emphasised the importance of the non-registered Corporate Tax Taxable Persons to submit their Corporate Tax registration applications to the FTA, followed by the submission of Tax Returns through the 'EmaraTax' platform within the specified deadline, in order to benefit from the UAE Cabinet Decision on the waiver initiative to exempt Taxable Persons and certain categories of Exempt Persons required to register with the FTA, from Administrative Penalties resulting from failing to submit a Corporate Tax registration application. His Excellency mentioned: 'This important initiative comes as part of the comprehensive strategy to support business sectors and encourage voluntary compliance with tax laws and procedures to avoid Administrative Penalties, which contributes to promoting economic growth, ensuring tax transparency and fairness within a legislative environment that keeps pace with developments through sustainable improvement, while maintaining performance quality and managing the tax system with the highest levels of efficiency and accuracy.' His Excellency Director General added: 'It is clear that the initiative to waive the Late Registration Penalty is incentivising many registrants for Corporate Tax as we note an increase in the number of Corporate Tax registrations to 576,000 – up from 538,000 registrants before the launch of the waiver initiative, in April 2025. This resulted in an increase of 38,000 additional registrations, as thousands of Corporate Tax registrants have submitted their Tax Return and annual declaration within the specified deadline to benefit from the Late Registration Waiver.' His Excellency Khalid Ali Al Bustani also stated: 'These indicators are a clear reflection of the initiative's success, which shows how the awareness on tax compliance and procedures is growing across all business sectors, in the UAE. The FTA is keen to continue engaging with the business community through various awareness channels, as well as to seek taxpayers' views and discuss ways to overcome any challenges they may face. Furthermore, the Authority is intensifying its efforts, in cooperation with the relevant entities, to raise awareness about the importance of the initiative and the need for non-registered Corporate Tax Taxable Persons to act quickly and benefit from the waiver initiative by submitting their registration applications, tax returns, and annual declarations within a period not exceeding seven months from the end of their first Tax Period or Financial Year.' About Federal Tax Authority The Federal Tax Authority was established by Federal Decree-Law No. (13) of 2016 to help diversify the national economy and increase non-oil revenues in the UAE through the management and collection of federal taxes based on international best practices and standards, as well as to provide all means of support to enable taxpayers to comply with the tax laws and procedures. Since its inception in 2017, the FTA has been committed to cooperate with the competent authorities to establish a comprehensive and balanced system to make the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance, with simple procedures based on the highest standards of transparency and accuracy – beginning from registration, to the submission of tax returns, to the payment of due taxes through the Authority's website: