The Competition Commission of Pakistan (CCP) has completed its Phase-II review of PTCL’s $400 million acquisition of Telenor Pakistan and Orion Towers. The deal, which involves significant changes in market share across various telecom sectors, is being carefully examined to ensure fair competition and protect consumer interests.
Omantel’s financial results for the nine months ending September 30, 2024, showed a net profit of RO187.5 million and a 2.2% growth in revenues. Despite a decrease in domestic net profit due to investments in network expansion, the group remains on a solid growth trajectory, with Zain Group also posting strong revenues.
Shaza Fatima Khawaja, Pakistan’s Minister of State for IT and Telecommunication, met with an Omani delegation to discuss collaboration in the IT and telecom sectors and preparations for Comex 2025. The event is seen as an opportunity for Pakistan to showcase its tech capabilities and enhance bilateral ties in these sectors.
Zain has made significant strides in sustainable technology by adopting green solutions across its networks. The company is on track to achieve Net Zero emissions by 2050, focusing on energy-efficient products and network innovations. Its green initiatives have already cut emissions across 1,800 sites, promoting sustainability in the MENA region.
The MENA ICT Forum 2024, held at the Dead Sea, concluded with key recommendations focused on advancing regional technology innovation. The forum emphasized areas like financial technology, cybersecurity, and AI, while also stressing the importance of entrepreneurship, education, and workforce development. These steps aim to enhance global competitiveness in the tech sector.
Ariika, an Egyptian home furnishing e-commerce startup, has raised $3 million in Series A extension funding, led by Beltone Venture Capital and Citadel International Holdings. The new capital will fuel its expansion in Saudi Arabia and Iraq, with Ariika poised for significant growth in the MENA home décor market.
Artificial Intelligence is transforming financial services in Bangladesh, enhancing operational efficiency and customer experience, while also broadening financial inclusion. AI applications range from customer service chatbots to sophisticated fraud detection algorithms, contributing significantly to the development of a more inclusive and efficient financial landscape.
At the World Business Angels Investment Forum 2024, Bahraini startups showcased their innovative projects under the patronage of Prince Salman bin Hamad Al Khalifa. Entrepreneurs like Dr. Hamad Al Sayed and Zainab Adel Al Shuwaikh presented solutions ranging from AI-driven investment platforms to eco-friendly agricultural products, aiming to attract global investors and expand internationally.
SAP and Chalhoub Group have partnered to implement RISE with SAP, hosted on Microsoft Azure, as part of Chalhoub’s digital transformation. This collaboration will modernize Chalhoub’s IT infrastructure, enhance operational efficiency, and leverage AI to optimize business processes, supporting its expansion plans across the Middle East and beyond.
Mobily signed several MoUs at Connected World KSA, enhancing global connectivity and digital infrastructure. Partnerships with IQNET, China Telecom, and Supercell Iraq aim to strengthen regional telecom solutions. Mobily’s investments in submarine cables, data centers, and local networks support Saudi Arabia’s Vision 2030, driving digital transformation across the region.
