The Public Investment Fund (PIF) of Saudi Arabia completed the sale of 100 million shares in Saudi Telecom Company (stc), raising $1.03 billion. The oversubscribed offering marks the largest accelerated bookbuild in Saudi Arabia and the MENA region. PIF retains 62% of stc’s shares as part of its strategic capital recycling plan.
e& enterprise has partnered with Sergas Group to enhance the safety and sustainability of gas distribution networks in the GCC. This collaboration will develop digital solutions, including smart meters and IoT systems, to improve safety, enable early incident detection, and promote sustainability, all while adhering to regional regulations.
STC Group, through its subsidiaries STC Bahrain and Center3, has invested $300 million to construct a new data center park and inaugurate the 2Africa Pearl subsea cable in Bahrain. These initiatives aim to expand STC’s global footprint, supporting Bahrain’s 2030 Economic Vision with enhanced digital infrastructure and sustainability goals.
Orange Jordan showcased its innovative solutions at the inaugural “Makers’ Forum,” including the Spider Robot, Ender 2 Printer, and AI-driven drone for agriculture. The event highlighted Orange’s commitment to community empowerment and digital education, with a focus on economic participation and skill development for local communities.
Zong, in collaboration with ZTE, has launched the industry-first Omni 12T12R UBR Site in Pakistan. This innovation reduces RRU costs by 67% and tower space requirements while boosting data traffic and throughput. Zong remains committed to advancing network capabilities and enhancing the user experience with cutting-edge wireless technologies.
Egypt University of Informatics and SAP Egypt signed a partnership to enhance digital skills and AI education. This initiative incorporates SAP applications into curricula, offering hands-on training. Minister Amr Talaat highlighted Egypt’s progress in AI innovation, education reforms, and ICT growth, emphasizing AI’s transformative potential and the country’s commitment to responsible AI development.
Oman’s 11th Global Carrier Community Meeting (GCCM) showcased the country’s growing role as a telecom hub, highlighting investments in digital infrastructure and the launch of the SN1 Carrier-Neutral Data Centre. The event featured key industry leaders, including Omantel and Zain Omantel International, discussing innovations in global connectivity.
Zain KSA has secured the 600 MHz spectrum band in the latest spectrum auction, enhancing its 5G network coverage across cities, villages, and remote areas. This acquisition strengthens its ability to provide advanced 5G services, including IoT and smart city solutions, further supporting the goals of Saudi Vision 2030.
Space42, the UAE-based space tech company, reported a 17.5% increase in profit for the first nine months of 2024, totaling $118.8 million. The company’s performance was boosted by the merger with Bayanat and Yahsat. Despite a revenue decline, Space42 remains focused on profitable growth and innovation in tech solutions.
Pakistan is making a strong impact at Web Summit Lisbon 2024, showcasing its advancements in AI, software development, and digital innovation. Supported by PSEB, the delegation led by Beyond Technologies highlights Pakistan’s growing role in the global tech scene, fostering connections and promoting its potential in the digital economy.
