Zain Saudi Arabia reported a net profit of 150 million riyals for Q3 2024, a 114.3% increase from the previous year. However, net profits for the first nine months declined by 75.6% to 322 million riyals. The company also faced rising operating and credit loss expenses.
The UAE showcased its leadership in digital city innovation at GITEX GLOBAL 2024, featuring groundbreaking technologies like a scannable robot and sea drone boat. The event attracted over 6,500 exhibitors and 200,000 visitors, reinforcing Dubai’s status as a global tech hub.
Gushcloud partners with Talent Plus and key investors to expand its talent management operations in the Middle East and South Asia. This collaboration enhances cross-border opportunities for creators and celebrities, bridging the gap between MENA, South Asia, and Hollywood, while boosting the global creator economy.
The Telecommunications Regulatory Commission (TRC) in Jordan transferred JD175 million to the Treasury in 2024. The report also highlighted the processing of 18,715 customs declarations and the issuance of 3,415 type approvals for telecommunications equipment. Jordan ranked 83rd in mobile internet speeds and 34th in fixed internet speeds.
Crown Prince Hussein visited the Ministry of Digital Economy to discuss the National Council for Future Technology’s national data program. He emphasized the importance of accurate data registration, linking government databases, and enhancing digital infrastructure to optimize e-government services, along with supporting youth digital skills and government digital transformation efforts.
Hilal Technology and Dell Technologies hosted an exclusive event, “Exploring the Future of IT,” in Bahrain, marking their long-term partnership. Over 100 customers gathered for insightful discussions on generative AI, modern data centers, and business resiliency. The event reinforced their commitment to delivering cutting-edge IT solutions.
Connect Money, an Egyptian fintech startup, raised $8 million in seed funding to expand in Egypt and Morocco. The funds will support new business verticals and enhance technological capabilities. Founded in 2024, Connect Money offers a white-label card issuing platform and various financial solutions, aiming to transform banking operations in North Africa.
Pakistan is set to enhance its telecom infrastructure with an upcoming spectrum auction. The government has released 567 MHz of additional spectrum across multiple bands to support 4G and 5G services. The auction aims to meet growing mobile data demand, boost economic growth, and improve broadband coverage nationwide.
EOS-X SPACE plans to launch space flights in Abu Dhabi by 2025, offering a unique travel experience via pressurized capsules lifted by helium balloons. The company’s ambitious expansion includes significant investments and aims to target high-net-worth individuals, projecting substantial revenue growth over the next five years.
INJAZ Bahrain and BBK successfully hosted the BBK FinSec Knights Hackathon, empowering university students to develop innovative cybersecurity solutions. The event provided expert-led workshops and hands-on learning, with financial prizes awarded to the best teams. This initiative underscores the importance of preparing the next generation for the evolving cybersecurity landscape.
