Zain Group to distribute $0.11 per share to shareholders for 2017
Zain Group's consolidated net income for 2017 increased by 2% to KD 160 million ($527 million), reflecting Earnings Per Share of 39 fils ($0.13). Consolidated revenues amounted to KD 1.03 billion ($3.4 billion), down 5% YoY.
Etisalat's AGM approves 2017 dividends of 80 fils per share
H.E. Eissa Al-Suwaidi and H.E. Eissa Abdul Fattah Kazim have been appointed as chairman and vice president of Etisalat Group respectively
Around $18 billion generated from telco services in 2017 in Saudi Arabia
The Saudi Public Investment Fund (PIF) Programme (2018-2020) aims to increase assets under management to over $400 billion by 2020.
Batelco aims for net profits in the range of BD40 - 45 million in 2018
Operator group's net profits for 2017 declined significantly though the company managed to grow its revenues organically for the first time since 2009
Etisalat UAE reports a 5% increase in net profit for 2017
Aggregate subscriber base reached 142 million, representing a year over year increase of 1% while the subscriber base in UAE grew to 12.6 million subscribers in Q4, 2017 representing a growth of 3%.
UAE operator du reports 15% increase in Q4 profits
EITC CEO says the focus is on both the enterprise sector, expanding into ICT, and the consumer sector where the company will grow its digital, lifestyle and entertainment services
Mobily's losses increase in FY 2017 compared to FY 2016
Operator marked a quarterly growth in revenues in Q4, 2017 compared to Q3, 2017 for the first time since 2015
Apple grabs 51% of smartphone revenues in Q4 2017
Apple iPhone generated a huge $61 billion in the quarter, helped by solid demand for its premium X model, and Apple now accounts for more revenue than the rest of the entire global smartphone industry combined.
AI could be key to moving the Middle East from its reliance on oil
The most significant relative gains in the region are expected in the UAE where artificial intelligence is expected to contribute almost 14% of GDP in 2030, followed by KSA (12.4%). The impact could be even larger if governments continue to push the boundaries of innovation and implementation of AI across businesses and sectors between now and 2030.