Kuwait Telecommunications Company (stc), reported a net profit of KD 33.2 million and a revenue increase of 13.5% to reach KD 336.4 million in its financial results for the fiscal year ended December 31, 2022.
stc announced the launch of its corporate investment fund (CIF). The Fund aims to invest in early-stage startups in various domains, including fintech, cybersecurity, artificial intelligence, digital games, Internet of Things, blockchain and other promising areas.
A newly formed subsidiary of private global investment company Priora Management Holding Dubai announced the acquisition of Virgin Mobile Middle East and Africa (VMMEA), the largest mobile virtual network operator (MVNO) in the region, with active operations in the Kingdom of Saudi Arabia, the United Arab Emirates, Oman and Kuwait under the brands Virgin Mobile and Friendi Mobile.
At LEAP 2023, Zain KSA and China Mobile International (CMI) signed a memorandum of understanding to establish an all-around partnership, represented by Colin Wang, managing director of CMI Middle East and Africa, and Eng. Sultan AlHadlag, executive general manager of Zain KSA.
During LEAP 2023, Zain KSA and Qualcomm Technologies, Inc. announced an expanded collaboration to drive cloud-native, virtualized and O-RAN-compliant 5G infrastructure in Saudi Arabia. This collaboration will focus on 5G networks of the future — using Open RAN technology — and make cellular infrastructure more innovative, competitive and cost-efficient.
stc Group, the digital leader in the region, signed a partnership agreement with SKYFive Arabia, the leading provider of Air-to-Ground (A2G) based solutions and services, to introduce the new concept of In-Flight Connectivity (IFC) to airlines in Saudi Arabia. With the roadmap to expand across the entire MENA region in the near future, the partnership will deliver unparalleled connectivity that will enrich the airline’s and passengers’ travel experiences.
stc, the leading digital enabler in the region, announced the successful validation of AWS Snowball Edge in stc Lab, a device with onboard storage and compute power for select AWS capabilities. Snowball Edge can do local processing and edge-computing workloads to help stc deploy Mobile Private Networks (MPN) and MEC offerings at the edge in a fully disconnected and transportable fashion.
e& international signed a Memorandum of Understanding (MOU) with Tunisie Telecom to join the “e& partner networks” business program developed to collaborate with telecom-operating companies in regional markets.
Etihad Etisalat, or “Mobily,” has announced a raft of new deals during LEAP 2023, covering a range of areas such as customer experience, gaming, cloud solutions, online marketplaces, CSR, cybersecurity and infrastructure, among others.
During LEAP 2023, Zain KSA signed an agreement with Emaar, The Economic City (EEC), the master developer of King Abdullah Economic City (KAEC), for landing the J2M subsea cable system, which will connect the Kingdom to Europe and the rest of the world through the Pakistan and East Africa Cable System (PEACE).
