Bharti Airtel, a leading global telecom services provider, and Telecom Egypt, Egypt's first integrated telecom operator, announced a strategic partnership, wherein, Airtel will get IRUs (Indefeasible Right of Use) on Middle East North Africa Submarine Cable (MENA Cable) and TE North Cable Systems. In addition, Airtel will also take large capacities on a long-term basis on two new state-of-the-art Cable Systems (SMW5 & AAE1). The transactions aim to be concluded after the fulfillment of all conditions precedents.
VIVA, Kuwait's fastest-growing and most developed telecom operator, announced the financial results for six-month period ended 30 June 2018 whereby VIVA's net profit grew to reach KD 23.8 million recording growth of 21% compared to the same period in 2017. The revenues during the first six-month period of 2018 reached KD 149.1 million recording a growth rate of 7.6% compared to the same period in 2017.
Etisalat Digital announced its new set of challenges for the 5th cohort of Dubai Future Accelerators (DFA) focusing on creating smart innovative solutions based on emerging technologies like Artificial Intelligence (AI) and Blockchain.
Etisalat Group announced its consolidated financial results for H1 ending 30th June 2018. Consolidated revenues for first half of 2018 amounted to AED 26.2 billion representing 4% increase year over year and consolidated net profit reached AED 4.3 billion representing 6% increase year over year.
T-Mobile and Nokia announced a landmark $3.5 billion agreement to accelerate the deployment of a nationwide 5G network. Nokia will provide T-Mobile with its complete end-to-end 5G technology, software and services portfolio, assisting the Un-carrier in its efforts to bring its 5G network to market for customers in the critical first years of the 5G cycle.
Mobily reduced its net losses from SAR 352.7 million in H1 2017 to SAR 172 million in H1 2018 representing a decrease in net losses by 51.2%. This is mainly due to the increase in gross profit driven by revenues increase and decrease in cost of sales due to the reduction of mobile termination rates.
British telecom operator Vodafone suffered from a 4.9% erosion of its total revenue in the first quarter, reflecting the adoption of IFRS 15 and FX headwinds and a difficult market in Europe against a backdrop of stiff competition.
Telecom Egypt and Orange Egypt announced the signing of a renewal of the international telecom services agreement, which was signed in January 2015 for a period of four years. The new agreement will end in December 2022 and is expected to contribute cEGP 4bn to Telecom Egypt's top-line over the tenure of the agreement. It will also enable Orange Egypt to continue providing the best offers and international services to its customers.
Sparkle, the International Services arm of TIM Group and among the top ten global operators, announced the adoption of energy efficient Lithium-ion (Li-ion) battery technology for uninterruptible power supplies (UPSs), in its Istanbul Data Center making it the most environmental-friendly in Turkey.
His Excellency Abdullah Al-Sawaha, Minister of CIT launched Cyber Craft, the Cybersecurity program for beginners that was organized by STC, in the Presence of Nasser Al Nasser, STC Group CEO, and Abdulaziz Alruwais Governor of CITC.