Sector News

Riyadh – Mubasher: TAWAL, an information and communications technology (ICT) infrastructure subsidiary of Saudi Telecom Company (stc), has announced a new technical system for private 5G networks at LEAP 2024. TAWAL joined forces with MOBiSENSE to …

Riyadh – Mubasher: Arabian Internet and Telecommunication Services Company (solutions), a subsidiary of Saudi Telecom Company (stc), inked a term sheet agreement with US-based nile. The deal, penned on the slides of the third annual tech event …

Riyadh - Mubasher: Etihad Atheeb Telecommunication Company (GO) signed a three-year memorandum of understanding (MoU) with aramco digital company, the digital and technology subsidiary of Saudi Arabian Oil Company (Saudi Aramco), to collaborate on …

Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) entered into a strategic partnership agreement with Altibbi, a remote medical consultation platform that directly connects patients to physicians. Under the collaboration, …

Riyadh – Mubasher: Saudi Telecom Company (stc) has launched its Corporate Venture Capital Arm, tali ventures, according to a recent press release. The new platform will leverage the group’s ecosystem to back innovative startups, driving …

Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) posted an annual hike of 130.36% in net profit to SAR 1.26 billion as of 31 December 2023, compared to SAR 550 million. Earnings per share (EPS) enlarged to SAR 1.41 last …

Riyadh - Mubasher: Etihad Atheeb Telecommunication Company (GO) announced that its rights issues have received SAR 241.23 million in subscriptions. Around 24.12 million of the 25 million new shares were subscribed, indicating a coverage ratio of …

Riyadh – Mubasher: Moody's Investors Service has affirmed the 'A1' ratings of Saudi Basic Industries Corporation (SABIC), Saudi Telecom Company (stc) and Saudi Electricity Company (SEC), and the 'Baa1' rating of Saudi Arabian Mining Company …

Riyadh – Mubasher: Etihad Etisalat Company’s (Mobily) consolidated net profit surged 34.70% year-on-year (YoY) to SAR 2.23 billion during the financial year 2023, versus SAR 1.65 billion. Revenues rose by 6.66% YoY to SAR 16.76 billion last year …

Riyadh – Mubasher: Saudi Telecom Company (stc) generated net profits standing at SAR 13.29 billion in 2023, up 9.23% year-on-year (YoY) from SAR 12.17 billion. The telecom firm posted 7.27% higher revenues at SAR 72.33 billion last year, compared …

Riyadh – Mubasher: The board of Etihad Etisalat Company (Mobily) recommended cash dividends amounting to SAR 1.11 billion for 2023. The firm will pay out SAR 1.45 per share for 770 million eligible shareholders, according to a bourse disclosure. …

Riyadh – Mubasher: Arabian Internet and Telecommunication Services Company (solutions) inked a SAR 120 million agreement with Saudi Telecom Company (stc) on 25 January 2024. Under the 24-month deal, stc will offer bulk-SMS service and link it to …

Riyadh – Mubasher: Saudi Telecom Company (stc) has maintained its top spot as the highest valuable brand in the telecom sector across the Middle East with $13.90 billion, according to Brand Finance Global 500 report for 2024. stc was the strongest …

Riyadh – Mubasher: Etihad Etisalat Company (Mobily) inked a Murabaha financing agreement with the Saudi National Bank (SNB) at a total value of SAR 4.80 billion for seven years. The Tadawul-listed firm secured the loan, on 17 January 2024, to …

Riyadh – Mubasher: Rawasi Albina Investment Company penned a purchase order agreement with the Saudi Telecom Company on 14 January 2024, according to a bourse disclosure. The deal, which is valued at SAR 4.60 million, covers the replacement of …

Riyadh - Mubasher: The Capital Market Authority (CMA) approved Etihad Atheeb Telecommunication Company's (GO) proposal to raise its capital by SAR 250 million through a rights issue on 8 January 2024, according to a bourse disclosure. Based on the …

Riyadh – Mubasher: Saudi Telecom Company (stc) hiked its total expenditure on local content, through the Rawafed programme to over SAR 34 billion by the end of 2023. The performance index, which measured the local content in the previous fiscal …

Riyadh – Mubasher: Saudi Telecom Company (stc) has announced the Sustainability Innovation Hub as part of its collaboration with GCC Telco Alliance members, which include leading telecom operators from Saudi Arabia, the UAE, Bahrain, Oman, and …

Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) expanded its 5G digital services to cover ten additional cities, according to a recent press release. The zero-emission 5G network is currently working in Al Aflaj, Al …

Riyadh – Mubasher: Banan Real Estate Company renewed the lease agreement with Etihad Etisalat Company (Mobily) for the Oval office building in Olaya district which is located in the capital of Saudi Arabia for five Hijri years. Upon the contract …

Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) sold its stake in Golden Lattice Investment Company (GLIC), which amounts to 20% of the latter’s share capital. The Saudi Public Investment Fund (PIF) bought Zain KSA’s …

Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) logged net profits after Zakat and tax amounting to SAR 971 million in the first nine months (9M) of 2023. The recorded profits hiked by 224.75% year-on-year (YoY) from …

Riyadh – Mubasher: The net profits after Zakat and tax of Etihad Atheeb Telecommunication Company (GO) soared by 1,922.13% to SAR 100.50 million in the first nine months (9M) of 2023 from SAR 4.97 million in the same period a year ago. GO recorded …