Tether has invested $3 million in Kuwait’s Kem App to expand digital financial services in the Middle East. This partnership aims to boost regional adoption of USD₮ and enhance access to decentralized finance. The collaboration marks a significant step in transitioning the Gulf region into a digital cash economy, promoting financial inclusion and stability.
Nepal Telecom (NT) reported a 16.44% decline in net profit for Q4 FY 2080/81, dropping to Rs. 6.62 billion. The decrease was driven by a 4.99% reduction in revenue and significant declines in investments and finance income. However, the company saw a slight increase in reserves and reduced operating expenses by 12.98%.
Gulf Bank has introduced the “WAMD” service, allowing customers to transfer money quickly and securely using a phone number via the bank’s mobile app. This new feature, implemented by KNET under the Central Bank of Kuwait’s supervision, enhances Gulf Bank’s digital services, making banking more convenient and accessible for its customers.
Ooredoo Kuwait has launched “Home Internet,” a cutting-edge home networking solution offering reliable, high-speed internet tailored to meet diverse household needs. With packages like MESH, FIBER+, and ProPing for gamers, Ooredoo integrates 5G technology to enhance connectivity, supporting smart homes, remote work, and entertainment. This launch positions Ooredoo as a leader in Kuwait’s digital transformation.
TOD, the OTT platform from beIN Media Group, has partnered with Iraqi digital platform 1001 to expand its presence in Iraq. This multiyear agreement grants 1001 exclusive distribution rights for TOD packages, including premium sports and entertainment content. The collaboration aims to enhance streaming services, combat piracy, and deliver high-quality content to Iraqi audiences.
The Kingdom of Bahrain’s Survey and Land Registration Bureau has implemented an advanced urban planning system using SkySat data and AI, in collaboration with Planet and Aetosky. This system monitors changes in urban development and environment, enhancing smart city planning, sustainability, and efficient resource allocation across Bahrain’s 850 square kilometers.
Egypt has achieved the highest landline internet speeds in Africa and ranks second continentally, fifth globally, for affordable high-speed internet at $8.31 monthly. These advancements, reported by Speedtest and Business Insider, are due to infrastructure upgrades by the Ministry of Communications and the Egyptian Telecom Company using fiber optic technology.
Es’hailSat and Algérie Télécom Satellite (ATS) are exploring a partnership to enhance Algeria’s telecom services using satellite technology. Es’hailSat, with over 12 years of experience in the Middle East and North Africa, aims to support ATS’s efforts to modernize Algeria’s communication infrastructure, aligning with the country’s broader development goals.
GlobalTech Corporation has launched a Center of Excellence for Big Data and AI in Pakistan, marking a key milestone in its global expansion. Located within WorldCall Telecom, the facility will support product development and efficient project deployments. This initiative underscores GlobalTech’s commitment to technological innovation and growth in the tech sector.
Telecom Egypt reported a 35% revenue increase in H1 2024, reaching EGP 38 billion, driven by a surge in retail and data revenue. Despite economic challenges, the company achieved strong growth in customer base and international operations. Telecom Egypt remains focused on optimizing CapEx and positioning itself as a regional data hub.
