Kuwait's Zain Group will sell a 9.84 percent stake for US$846.1 million to Oman Telecommunications Company (Omantel), Oman's state-owned primary telecommunications firm, the two parties confirmed on August 10. Omantel's purchase of Zain's entire block of treasury shares will bolster Zain's financial position, as it competes against telecom heavyweights for an Omani mobile license.
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".
The preferred mobile plan for tens of thousands of UAE SMEs is now more powerful than ever. du has enriched its Business Mobile Plans to meet the communication needs of SME businesses even better, enabling them to have more flexibility, customization and simplicity in managing the communication needs of their businesses and employees.
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.
The Communications Regulatory Authority (CRA) has reviewed the Spam Regulation published in December 2016 and made amendments that align it more closely with the Data Privacy Law published by the Ministry of Transport & Communications (MOTC) in December 2016. The revised regulation is designed to reduce the number of complaints about spam, direct marketing, and cybercrime lodged with Service Providers and CRA and enhance the overall experience of consumers in Qatar.
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).
Kuwait's Zain Group reported a 5 percent decrease in revenues for the six months ended June 30 compared to the same period last year due to massive currency devaluation in Sudan, it said. The company ended the period serving 45.2 million customers across the Middle East and Africa.
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.
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.