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.
Etisalat, which controls a 13 percent market share in Nigeria, has had a running battle with a consortium of 13 banks since March after it notified them of its inability to service its $1.2 billion debt in February.
Virgin Mobile, Vodacom and Bua Group are among companies potentially interested in buying 9mobile, formerly Etisalat Nigeria, according to a report by ThisDay. 9mobile recently rebranded after the UAE's Etisalat terminated its management agreement with its Nigerian unit, giving up its 45 percent stake to a trustee.
PCCW Global, the international operating division of HKT, Hong Kong's premier telecommunications service provider, announced the landing of the high-capacity Asia Africa Europe-1 (AAE-1) cable in Hong Kong.
Emirates Integrated Telecommunications Company PJSC ("du") published its financial results on July 25 for the quarter ended 30 June 2017, and announced its plans to distribute AED 589.3 million of interim dividends to its shareholders for the first half of 2017 at 13 fils per share, subject to approval at the General Meeting in September 2017.
VIVA, Kuwait's fastest-growing and most developed telecom operator, launched new innovative roaming voice and internet plans covering the GCC and Arab countries including Lebanon, in addition to many tourist destinations in the world.
The market for drones in the GCC is expected to reach US$ 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.
HRH prince Faisal bin Mishaal Al Saud, governor of Qassim, stated that "Saudi Telecom Company (STC) services emulate the best global peers, and we see innovation and quality of services on our national company."
Mahindra Comviva announced that it is betting big on the Middle East region with its expanded portfolio of digital content. The company has entered into a partnership with Saregama - India's leading end-to-end entertainment solution provider. The partnership will allow Mahindra Comviva to cater to its clients in the Middle East by leveraging Saregama's extensive library of digital content targeting the SE Asian Diaspora as well as Arabs.
Etisalat announced the Asia-Africa-Europe-1 (AAE-1) undersea cable, the largest global submarine cable system bringing additional international capacity to UAE connecting Europe and Far East.
