New World Capital Advisors announces
strategic investment in IslamicMarkets
N
ew World Capital Advisors (NWCA),
the specialist merchant banking and
investment firm, has announced a strategic
investment in IslamicMarkets, a leading
financial intelligence, e-learning and
investment platform focused on the global
Islamic economy. Lumpur emerging as centres of excellence
for Islamic finance; both locations are
of strategic importance to NWCA and
IslamicMarkets, with both groups planning
their expansion into the region in 2019.
Adam Sadiq, Co-founder of NWCA, said:
Launched last year, IslamicMarkets offers
industry-led learning, financial intelligence
and connects investors to opportunities
across the global Islamic economy, estimated
to be worth US$3.8 trillion by 2022.
NWCA believes that the platform will
become a critical piece of the financial
infrastructure serving the Islamic economy,
similar to the role that Bloomberg plays in
conventional financial services. This comes “Despite continued year-on-year growth,
the true potential of the Islamic economy
has been held back due to a lack of clear,
consistent and powerful insights. By creating
a gateway for all market participants
to research, share and connect on live
opportunities, this platform will revolutionise
Islamic finance and establish confidence in
the market, supporting the fast-growing
Islamic Fintech ecosystem.”
as interest in Islamic finance continues to
grow among investors from both OIC and
non-OIC countries, with London and Kuala
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KT and STC Group to collaborate on
developing high-tech business
T
he STC Group has formed a partnership
with Korea Telecom (KT) to collaborate
on new technology areas.
As a leading telecommunication company
in Korea, KT will co-operate with STC Group,
the largest Saudi Arabian telecommunication
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MARKET MOVEMENT
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Issue 24
company in the Middle East, in business
areas such as fixed/mobile communication
infrastructure enhancement, Smart Cities,
smart media, and research and development.
Both groups will generate and maximise
the synergy effect by combining KT’s state-of-
the-art ICT technologies such as 5G network,
GiGA Wire (high-speed Internet solution
utilising copper cables), GiGAeyes (Intelligent
security solution) and Virtual Reality.
The collaboration will also benefit
from STC’s business expertise and strong
influence in the MENA region.
The companies will continuously seek
other potential fields of co-operation and
strengthen their collaboration.
Especially regarding GiGA Wire, KT’s
innovative broadband solution, which offers
Internet speed of up to 1Gbps with a copper
cable without deploying a separate optic
cable. It is regarded as an ideal solution to
It is regarded as an ideal solution
to enhance network speed without
damaging legacy buildings, thus
KT and the STC Group will closely
work together to develop GiGA
Wire business.
enhance network speed without damaging
legacy buildings, thus KT and the STC Group
will closely work together to develop GiGA
Wire business.
Eng Nasser Al Nasser, STC Group CEO,
said: “It will be a great opportunity for the
STC Group to collaborate and introduce KT’s
field proven solutions to Saudi Arabia. I am
hoping our successful co-operation models
could expand to STC’s foreign subsidiaries
and other MENA countries.”
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