Telecoms Q1 profits and revenue up for Saudi Telecom Company Profits at Saudi Telecom Company (STC) rose in the first quarter of this year, pushing the share price of the kingdom’s biggest telecoms operator to a yearly high. Net profit rose 11 percent year on year to SAR3.6 billion ($973 million) in the first three months of 2025. Revenues for the quarter rose 2 percent […] April 29, 2025
Artificial Intelligence Abu Dhabi AI chief bullish over future investment Investment in artificial intelligence is at “a crossroads” as the build-out of underlying infrastructure, such as data centres, demands trillions of dollars more in capital, according to Abu Dhabi’s technology fund MGX. Ali Osman, MGX’s chief investment officer for AI, said on Friday that he remains optimistic about “tremendous” growth in this space even amid […] April 25, 2025
Telecoms Surge in connected devices spurs Omantel revenue growth Omantel, Oman’s largest telecommunications provider, reported a rise in revenue and profitability last year, helped by a strong surge in “Internet of Things” (IoT) subscriptions Revenue at the state-controlled telco rose 4 percent year on year in 2024 to OR920 million ($2.4 billion), driven by strong performance across its business lines. The company recorded significant […] April 25, 2025
People & Lifestyle Starzplay reports record growth driven by AI Abu Dhabi-backed streaming platform Starzplay said it made record revenue last year, passing $100 million for the first time, supported by “artificial intelligence content discovery.” In 2022, the Abu Dhabi-based ADQ and a unit of federal telecommunications company e& (formerly Etisalat) bought a majority stake in Starzplay for $420 million. Since then revenue at the […] April 24, 2025
Tech UAE’s du and Microsoft to build $544m hyperscale data centre UAE telecom provider du and tech company Microsoft are to build a AED2 billion ($544.54 million) hyperscale data centre. The data centre will be built in stages, gradually increasing capacity to satisfy rising demand, the UAE state-run news agency Wam reported on Tuesday. The facility’s computing capabilities will be utilised by Microsoft, the main tenant, […] April 23, 2025
Tech Turkish startup funding plunges in first quarter Uncertainty in the Turkish economy and government budget cuts are weighing on the country’s startup environment, with venture capital funding for new projects falling in the first quarter to their lowest in more than 18 months. Turkish technology startups attracted $58 million in the three months to March 31, almost 50 percent down on the […] April 23, 2025
