Amal Al-Jabri appointed CEO of Cognit

Amal Al-Jabri
Updated 17 July 2017
0

Amal Al-Jabri appointed CEO of Cognit

Mubadala Investment Company, the Abu Dhabi strategic investment fund, has appointed Amal Al-Jabri as the chief executive of Cognit, the Mubadala and IBM Watson joint venture established to be the exclusive provider of Watson technology for the MENA region.
Al-Jabri will leave her role as deputy CEO of Injazat Data Systems (Injazat), a regional market leader for secure data center and managed services solutions, to focus on the newly appointed role. Al-Jabri was the acting general manager of Cognit, in an interim capacity since June 2016. Khaled Al-Melhi remains CEO of Injazat, following his appointment earlier this year.
Khaled Abdulla Al-Qubaisi, chief executive, aerospace, renewables and ICT at Mubadala, said: “Amal has been pivotal to Mubadala’s activities in the sector for over a decade, and has rapidly developed into a clear leader in the technology space. Cognit is one of the most exciting and ambitious investments for Mubadala, and Amal is the ideal candidate to lead this company as it brings to market IBM Watson’s transformative solutions.”
In her capacity as acting general manager of Cognit, Al-Jabri has been instrumental in spearheading the growth of the company and working alongside a team of specialists focused on delivering IBM Watson to the UAE and broader MENA region. During her tenure, it was announced that Watson had been programmed with Arabic cognitive learning capabilities, followed by the first successful installation of a live application of IBM Watson Arabic.
Al-Jabri previously supported Mubadala’s asset portfolio within the then named Aerospace & Engineering Services Platform. Joining in 2007, she played a critical role in overseeing key business and government program initiatives, including those at Injazat.
Al Jabri said: “Today is an extremely proud and humble moment for me. I am looking forward to building on the legacy already in place by the talented Cognit team, and supporting our shareholder’s mandate to deliver value for the UAE government and subsequent diversification of the economy.”
IBM Watson is a revolutionary computing system that uses natural language processing and machine learning to reveal insights from large amounts of unstructured data. The inception of Cognit is critical as the UAE and its neighbors across MENA look to take advantage of Watson’s cognitive computing services to stimulate growing economies.


Mobily quarterly loss down by 49%

Updated 36 min 47 sec ago
0

Mobily quarterly loss down by 49%

Saudi telecom provider Mobily decreased its quarterly losses in Q1 2018 by 49 percent to SR93 million ($24.84 million) compared with SR182 million in Q4 2017. This was mainly due to a growth of revenues driven by a better mix of products mainly from data, the increase of efficiency in managing operational expenses, the impact of implementing IFRS 9 and 15, and the reversal of certain provisions that are no longer required, according to the company.

Revenues improved for the second consecutive quarter reaching SR2,833 million in Q1 2018 compared with SR2,827 million in Q4 2017, a slight increase of 0.2 percent, despite the following:

l The impact on sales at the beginning of the year due to the implementation of the value-added tax (VAT). 

l The reduction in interconnection rates by 45 percent.

l The seasonality of handset sales, and its increase in Q4 2017.

l The seasonal decrease related to the number of days in Q1. 

Without the decrease of the interconnection rates, revenues would have grown by 2 percent.

Mobily’s gross profit increased in Q1 2018 by 6.6 percent to SR1,663 million compared with SR1,560 million in Q4 2017. This increase is mainly due to the reduction in interconnection rates during Q1 2018 compared with those of Q4 2017 and the reduction in equipment costs in Q1 2018 compared with Q4 2017.

Mobily managed to grow its revenues for the second consecutive quarter. Q1 2018 revenues slightly decreased by one percent (SR33 million) to SR2,833 million compared with SR2,865 million in Q1 2017. Mobily achieved a stable level in revenues despite the general economic and regulatory changes, including the impact on sales in the beginning of the year due to the implementation of VAT, and the reduction in interconnection rates by 45 percent.

Without the decrease of the interconnection rates, the revenues would have grown by one percent year over year.

The gross profit stabilized at SR1,663 million in Q1 2018 compared to SR1,665 million in Q1 2017 with a slight decrease by 0.12 percent, despite the slight decrease in revenues.