22 February 2025
Headlines

Financial

A landscape image representing the financial success and digital innovation of stc Group in the first half of 2024. The scene features a modern cityscape

stc Group Reports Strong Financial Performance in H1 2024, Driven by Digital Growth and Strategic Partnerships

Shahzaib05 mins

Leading Saudi telecom group stc has reported solid financial results for the first half of 2024, with a 4.79% increase in revenues, reaching SAR38.25 billion ($10.2 billion). Net profit surged by 7.73% to SAR6.6 billion, driven by growth in customer and carrier revenues, as well as subsidiary performance. The company’s “Dare 2.0” strategy and cost efficiency programs were key factors in achieving these results.

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Veon secures US$270 million loan for Pakistan unit Jazz

Editor02 mins

Veon subsidiary Jazz has secured a PKR75 billion (US$270 million) loan to expand its infrastructure and transition from a telecom company to a technology services provider. The credit facility, led by The Bank of Punjab, is the largest long-term private sector syndicated credit facility in Pakistan, enabling Jazz to enhance digital infrastructure and invest in cloud, software, and financial services.

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A landscape image representing the financial success of Ooredoo in the first half of 2024. The scene features a modern cityscape with high-rise building

Ooredoo Reports 9% Growth in Revenue for H1 2024

Shahzaib03 mins

Kuwait’s National Mobile Telecommunications Company (Ooredoo) reported a 9% increase in consolidated revenue for the first half of 2024, reaching KD346 million ($1.1 billion). The growth was driven by strong performance in Kuwait, Maldives, Tunisia, and Algeria. The customer base grew by 4% to 25.5 million, and EBITDA increased by 8% to KD125 million. Net profit attributable to NMTC decreased to KD25 million due to a one-time gain in H1 2023, but excluding this gain, net profit would have been 23% higher.

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A dynamic scene showcasing Egypt's ICT sector advancements, with digital innovation centers, fiber optic cables, and modern mobile towers. The background

Egypt Targets ICT Sector Growth to 8% of GDP by 2030

Shahzaib03 mins

Egypt plans to boost its ICT sector’s contribution to GDP from 5.8% to 8% by 2030. Minister Amr Talaat emphasized strategic collaborations and investments in submarine cables, cloud computing, and local mobile manufacturing. Initiatives include training programs for 500,000 ICT professionals annually, expanding digital innovation centers, and enhancing digital infrastructure, including broadband coverage and fiber optic networks, to support these goals.

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A vibrant scene showcasing the partnership between Madayn and Sadad Electronic Payment Gateway. The image features self-service payment machines at Ma

Madayn Partners with Sadad to Enhance Electronic Payment Services for Investors

Shahzaib02 mins

Madayn has partnered with Sadad Electronic Payment Gateway to introduce electronic payment services for investors and business owners. This agreement includes installing self-service payment machines at Masar Service Centres, promoting digital transformation, and enhancing user experience. The partnership also involves training national cadres and providing maintenance opportunities for SMEs.

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