Zain Saudi Arabia, the kingdom's third ranked telecom operator, has reportedly entered into negotiations with a consortium of companies for the sale and lease back of its telecommunications towers.
UAE's Etisalat Group, which operates and owns subsidiaries in the Middle East, Africa and Asia, posted its Q2 financial results for 2017. The Group's consolidated revenues amounted to AED 25.3 billion, according to the statement.
InspireU, STC incubator, announced a partnership agreement with Careem, the biggest car booking provider in KSA. According to the agreement, Careem will provide free rides for the 40 entrepreneurs and members of arbitration committee dealing with "Inspire U".
Qatar's Ooredoo Group posted its Q2 financial results for 2017 showing a 12 percent fall in net profit to 513 million riyals (US$137) million from 583 million riyals the previous year. The results fell below SICO Bahrain and EFG Hermes forecasts of 642.81 million riyals and 529.3 million riyals, respectively.
du has delighted customers by expanding its retail footprint in the capital, Abu Dhabi, where it currently has 15 stores. du hosted the Grand Opening of its 76th retail store in the UAE at the popular Yas Mall, which has attracted over 40 million visitors since opening in 2014. du's existing presence in Yas Island includes providing superior live entertainment experiences that have excited people in Abu Dhabi and the UAE at the du Forum and du Arena. du customers in Abu Dhabi now have a new retail touchpoint for all services related to consumer and enterprise fixed and mobile services. During the grand opening, exclusive Special Numbers were available, and many other give aways for the visitors at the store.
Virgin Mobile, Vodacom and Bua Group are among companies potentially interested in buying 9mobile, formerly Etisalat Nigeria, according to a report by ThisDay. 9mobile recently rebranded after the UAE's Etisalat terminated its management agreement with its Nigerian unit, giving up its 45 percent stake to a trustee.
VIVA, a subsidiary of Saudi Telecom Company (STC), said its net profit grew to reach KD 19.5 million in the six-month period ended June 30 2017, reflecting a growth of 1 percent compared to the same period in 2016. Revenues during the first six-month period in 2017 reached KD 133 million (approx. US$440.3 million).
Emirates Integrated Telecommunications Company PJSC ("du") published its financial results on July 25 for the quarter ended 30 June 2017, and announced its plans to distribute AED 589.3 million of interim dividends to its shareholders for the first half of 2017 at 13 fils per share, subject to approval at the General Meeting in September 2017.
Saudi Arabia's STC shared its Q2 2017 financial results showing a 7.9 percent net income increase compared to the same period last year to reach SR 2.4 billion (US$640 million). STC Group CEO Dr. Khaled H. Biyari said the results reflect the company's move to embrace digital transformation and Saudi Vision 2030.
The market for drones in the GCC is expected to reach US$ 1.5 billion by 2022, presenting a massive opportunity for regional telecom operators, according to Strategy&, formerly Booz & Company, and part of the PwC network. By leveraging their capabilities and resources, these companies can play a central role in the development of the regional drone industry.
