Sunday, June 3, 2018

Telecom Egypt obtains US$200 million in financing facilitated by Huawei

The Bank of China and China Export & Credit Insurance Corporation (Sinosure) will provide US$200 million in long-term financing to Telecom Egypt.

The financing was facilitated by Huawei. It is intended to finance the roll-out of Telecom Egypt's 4G network and the deployment of transmission and core networks.

Mr. Terry Liu, CEO of Huawei Egypt Office said: “Throughout the years Huawei has been successful in building and maintaining a strong partnership with Telecom Egypt. Today, we are taking another step towards strengthening this partnership and supporting Telecom Egypt in their strategy to expand by facilitating the financing agreement.”

Mr. Peng Song, Huawei North Africa President added: “Providing such financing facilities enables us to capitalize on the potential of growth in the Egyptian market. It is part of our strategy to support our customers and act as their partners in success.”

Eng. Ahmed El Beheiry, Managing Director and CEO of Telecom Egypt added:

“Telecom Egypt has several strategic long-term expansion plans to be delivered in the coming years. To achieve such plans we have worked on attaining long-term financing at the lowest possible cost as well as the most convenient payment terms to match our cash flow generation while proceeding with our rollout plans. Our success in securing such financing agreement with the Chinese financial institutions and Huawei indicates our strong financial position and credit profile and marks the first of its kind in the telecom sector. The facility benefits Telecom Egypt by providing a simplified purchasing process through a packaged financial solution, while it allows Huawei to further expand its business in Egypt.”

Palo Alto Networks names Nikesh Arora as CEO and Chairman

Palo Alto Networks named  Nikesh Arora as its new CEO and chairman of the Board of Directors, succeeding Mark McLaughlin, who becomes vice chairman of the Board for Palo Alto Networks.

Arora formerly served as president and chief operating officer at SoftBank and as chief business officer at Google, where he led more than 20,000 employees, and developed a substantial track record of driving innovation and delivering business success. He joined Google in 2004.

Arora has degrees from Indian Institute of Technology (BHU) Varanasi, Boston College, and Northeastern University.

"The company is executing extremely well and is the clear leader in next-generation security. Over the course of several quarters, I have been discussing succession planning with the Board and I couldn't be more pleased that we have found a leader in Nikesh who is ideally suited to take the company on the next leg of its journey. I look forward to working with Nikesh as we transition and serving as vice chairman of the Board," stated Mark McLaughlin.

Orange builds 200G optical backbone across Spain with Huawei

Orange Spain has deployed a national optical transport network using Huawei's equipment.

The optical backbone offers up to 96x200G transmission capacity. The new network consolidates the traffic of several different DWDM systems that arose as the result of several mergers.

See also