Tamam Financing Company, the first Saudi company issued a license for consumer micro-financing in the Kingdom by the Saudi Central Bank (SAMA), announced the launch of Murabaha financing. The Tamam platform will offer the digital installments service and enable customers to purchase products from e-commerce stores with instant access to financing and flexible repayment options that extend up to 18 months.
Rapid technological change is increasingly impacting every aspect of people's lives, leisure and work activities. Most every business in the world turns to digital solutions to keep pace with ever more demanding customer needs.
The inspireU program welcomed 18 projects, including Spoilz Games which provides services to game developers; Win which provides the sale and purchase of surplus industrial inventory of oil and petrochemical products between industrial companies; Sirdab which serves business owners to instantly configure and manage their cloud repositories; Fraim app which connects production companies to advertising service providers such as photographers; Qparts which provides technical solutions in the field of auto parts; and OPETA which specializes in artificial intelligence and data analysis, providing a platform that serves the restaurant and café sector.
Ooredoo Group announced its financial results for the second quarter of 2022, showing impressive growth in the first half of the year.
Etisalat UAE, branded as etisalat by e&, announced the successful completion of its first trial of the 6GHz spectrum, creating history by taking this monumental step for the future of 5G and opening up a world of possibilities for next-generation technologies and economies of the future.
Umniah recently launched its sustainability program, outlining the environmental, social and corporate governance practices as well as its commitment to promoting a positive and sustainable future. Umniah further highlighted its pledge to address the environmental challenges we are now facing, raise awareness about this critical issue and encourage and reward its subscribers to become active change agents towards a better, more sustainable future.
Ooredoo Oman has begun construction on three new state-of-the-art data centers in Barka, Salalah and Sohar to support local businesses and the community in each area by offering world-leading cloud storage, data recovery and cyber security options.
Emirates Integrated Telecommunications Company PJSC (“EITC”) whose brand name is du published its financial results for the quarter-ended 30 June 2022. Sustained demand for broadband and mobile services led the revenues to increase by 9.9% to AED 3.14 billion. EBITDA improved by 12.1% to AED 1.27 billion, attributable to a sharp increase in service revenues and gross margin expansion. Net profit increased by 26.2% to AED 303 million. Operating Free Cash Flow (EBITDA – Capex) grew 47.7% to AED 709 million, driven by higher EBITDA and Capex spend that is beginning to normalize. On the basis of these results, the Board of Directors approved an interim cash dividend of AED 0.11 per share representing a 10% increase over the previous year’s interim dividend. Read Q1 results
e&, formerly known as Etisalat Group, announced its financial results for H1 2022, showing AED 26.3 billion in revenue and AED 4.9 billion in net profit. Representing an increase of 2.5% over the same period last year, aggregate group subscribers reached 160 million.
Zain KSA has achieved SAR 134 million in net profit during the second quarter of 2022 (Q2), an impressive 219% growth compared to the same period of 2021 and a 65% increase compared to the first quarter of 2022 (Q1). A 16% year-over-year (YoY) growth in revenues was also recorded during Q2 2022, hitting SAR 2.2 billion.
