Zain KSA announced impressive H1 results with a 60% increase in net profit to SAR172 million ($45.8 million) and revenue of SAR5 billion ($1.3 billion). The growth was driven by enhanced customer experience, expanded 5G coverage, and increased demand during the Hajj season, alongside strong sustainability practices.
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.
Saudi Arabia’s Emerging Technology Adoption Readiness Index improved from 60.35% to 70.70% in one year. The increase in participating agencies, along with advancements in AI, drones, digital twinning, and other technologies, highlights the Kingdom’s commitment to modernizing its digital infrastructure and aligns with Vision 2030 goals.
The Communications, Space and Technology Commission (CST) has announced that the Neo Space Group has won the competition for obtaining a permit to provide Earth Observation (EO) Platform Service.
Alstom has inaugurated its regional headquarters in Riyadh, aimed at advancing sustainable mobility and railway development in the Gulf region. The new office, led by Mohamed Khalil, will serve as a hub for innovation and digital services, supporting Alstom’s global operations and aligning with Saudi Arabia’s Vision 2030.
5dVR has expanded to Saudi Arabia with AstroLabs to enable firms to adopt AR, VR, and mixed reality technologies. The Cairo-based company aims to transform local sectors by leveraging its global expertise and fostering digital transformation, aligning with Saudi Vision 2030. The Saudi AR/VR sector is expected to grow significantly, creating demand for 5dVR’s innovative services.
audi Arabia also achieved 1st place among the G20 countries in the pillar of meaningful connectivity and 2nd place in the pillar of universal connectivity.
Zain KSA has launched new digital authentication services in Saudi Arabia through a partnership with the Sadq platform, enhancing digital transformation and sustainability. This initiative aims to improve customer experience, streamline operations, and bolster data protection, aligning with Saudi Vision 2030’s goals. Zain Cloud has been awarded the highest rating for cloud computing service providers by CST.
Najm for Insurance Services has partnered with Cambridge Mobile Telematics and AiGeNiX to launch a telematics initiative aimed at improving road safety in Saudi Arabia. The initiative uses advanced mobility analytics technologies to analyze driving data and promote safer driving practices, supporting the Kingdom’s Vision 2030 goals.
Opensignal’s latest analysis ranks Saudi Arabia third in 5G download speeds among EMEA markets, reflecting significant advancements in 5G deployment. The report highlights improvements in network performance, impressive 5G upload speeds, and the impact of government initiatives like Vision 2030 in fostering 5G growth in the GCC region.
