{"id":607272,"date":"2023-10-01T00:00:00","date_gmt":"2023-10-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/telecom-egypt-to-extend-cross-mediterranean-medusa-subsea-cable-to-the-red-sea-adibs-new-sukuk-move\/"},"modified":"2023-10-01T00:00:00","modified_gmt":"2023-10-01T00:00:00","slug":"telecom-egypt-to-extend-cross-mediterranean-medusa-subsea-cable-to-the-red-sea-adibs-new-sukuk-move","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/telecom-egypt-to-extend-cross-mediterranean-medusa-subsea-cable-to-the-red-sea-adibs-new-sukuk-move\/","title":{"rendered":"Telecom Egypt to extend cross-Mediterranean Medusa subsea cable to the Red Sea + ADIB\u2019s new sukuk move"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TELECOMS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Telecom Egypt is bringing the Medusa cable to the Red Sea: <\/strong> Telecom Egypt and submarine infrastructure operator Medusa Submarine Cable System have inked an agreement to extend the cross-Mediterranean Medusa subsea cable to the Red Sea, the state-owned company <a target=\"_blank\" href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/185\/Medusa-submarine-cable-to-connect-to-the-Red-Sea-through-Telecom-Egypt\" style=\"\" rel=\"noopener\">said<\/a> Thursday. The 8.8k km-long cable will reach Port Said by the end of 2025 and connect over land to landing stations in the Red Sea in Suez, Zafarana, and Ras Ghareb. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> Telecom Egypt <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/349280997242327\" style=\"\" rel=\"noopener\">signed an agreement<\/a> with Africa-focused telecommunications operator AFR-IX Telecom in March last year to extend the Medusa cable to Port Said. The cable, which will become operational in the Western Mediterranean in 2025, will connect 10 countries in North Africa and Europe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> CAPITAL MARKETS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ADIB is opening up a new sukuk venture: <\/strong>The Financial Regulatory Authority (FRA) has given the go-ahead to Abu Dhabi Islamic Bank to establish a company to issue sukuk, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/1562.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The Abu Dhabi Islamic Taskeek Company will be 98%-owned by the bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The decision comes as authorities look to develop the local sukuk market: <\/strong> The FRA recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0164991b-fb6e-4d25-b0cb-3dedaa3b2290\" style=\"\" rel=\"noopener\">relaxed capital markets regulations<\/a> last month to make it easier for companies to issue the shariah-compliant securities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The state-owned company signed an agreement last year to land the cable at Port Said<\/p>\n","protected":false},"author":1,"featured_media":607273,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[469,111,102,214,72,76,280,212],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-607272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-abu-dhabi-islamic-bank","tag-also-on-our-radar","tag-capital-markets","tag-cit","tag-enterpriseam","tag-financial-regulatory-authority","tag-sukuk","tag-telecom-egypt","wpautop","entry"],"acf":{"mongo_id":"dae3b251-c8b0-4a71-9f83-bcb7496d9fe1","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1681.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Telecom Egypt to extend cross-Mediterranean Medusa subsea cable to Egypt\u2019s Red Sea + ADIB\u2019s new sukuk move","related_issue":[607247],"teaser":"The state-owned company signed an agreement last year to land the cable at Port Said","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.8ac5c3dd-ad1e-4be6-93f9-00c7c126f492.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The cable is set to up data traffic between Europe, Asia, and Africa, the release read, \u201ccreating a\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604885,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/16\/egypts-te-fiber-misr-sign-mou-on-subsea-fiber-optic-cable-services\/","url_meta":{"origin":607272,"position":2},"title":"Egypt\u2019s TE, Fiber Misr sign MoU on subsea fiber optic cable services","author":"enterpriseam admin","date":"16 December 2018","format":false,"excerpt":"State-owned Telecom Egypt has signed an MoU with systems integrator Fiber Misr to collaborate on providing submarine communications cable services, according to a CIT Ministry statement. The two companies will work together to service submerged fiber optic cables in the Mediterranean, Red Sea, Arabian Gulf, and off the coast of\u2026","rel":"","context":"In &quot;Telecoms + ICT&quot;","block_context":{"text":"Telecoms + ICT","link":"https:\/\/enterpriseam.com\/egypt\/category\/telecoms-ict\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":550448,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/another-subsea-cable-for-our-regional-data-hub-ambitions\/","url_meta":{"origin":607272,"position":3},"title":"Another subsea cable for our regional data hub ambitions","author":"enterpriseam admin","date":"27 October 2022","format":false,"excerpt":"Telecom Egypt inaugurated its Red2Med submarine cable which runs from Ras Ghareb\u2019s Red Sea to Port Said\u2019s Mediterranean through the Suez Canal, according to a statement. The cable is the \u201cshortest, fastest and most secure way to transfer data between east and west,\u201d said Telecom Egypt CEO Adel Hamed. Communications\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571561,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/te-egypt-to-participate-in-huge-subsea-africa-middle-east-internet-cable\/","url_meta":{"origin":607272,"position":4},"title":"TE Egypt to participate in huge subsea Africa, Middle East internet cable","author":"enterpriseam admin","date":"17 May 2020","format":false,"excerpt":"TE Egypt to participate in huge subsea Africa, Middle East internet cable: Telecom Egypt (TE Egypt) is among a consortium of global telecoms firms partnering to lay a giant subsea cable between Europe, the Middle East and 16 countries in Africa, according to a joint press release (pdf). Known as\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/171.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575759,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/26\/telecom-egypt-to-complete-egypts-largest-international-data-center-in-2021\/","url_meta":{"origin":607272,"position":5},"title":"Telecom Egypt to complete Egypt\u2019s largest international data center in 2021","author":"enterpriseam admin","date":"26 October 2020","format":false,"excerpt":"State-owned Telecom Egypt (TE) plans to bring Egypt\u2019s largest international data center online in 2021, local press reported. The data center will be connected to TE\u2019s 10 Mediterranean and Red Sea subsea landing stations, connecting with more than 60 countries worldwide and allowing Egypt to make use of its unique\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=607272"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607272\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/607247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/607273"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=607272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=607272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=607272"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=607272"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=607272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}