STC net income for Q1 2018 increases by 2.1%

Nasser S. Alnasser, acting CEO of Saudi Telecom Company
Updated 26 April 2018
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STC net income for Q1 2018 increases by 2.1%

The Saudi Telecom Company (STC) has announced its preliminary financial results for the period ending March 31.

The revenue from services for the first quarter reached SR12.4 million — a decrease of 1.1 percent compared with the corresponding quarter last year. The gross profit for 1Q reached SR6.997 million — an increase of 1.05 percent.

The earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for the first quarter reached SR4,644 million — an increase of 2.1 percent compared with the corresponding quarter last year. Nasser S. Alnasser, acting CEO of STC, said the increase in net income by 2.1 percent for 1Q of 2018 was a result of the “continued comprehensive program to improve operational efficiency and cost-optimization initiatives.” 


Zain advocates ‘New Kuwait’ vision at GITEX

Zain’s dedicated booth at the GITEX Technology Week. (Photo/Supplied)
Updated 15 min 49 sec ago
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Zain advocates ‘New Kuwait’ vision at GITEX

Zain Kuwait inaugurated its dedicated booth at the Gulf Information Technology Exhibition (GITEX Technology Week 2018). The international event is hosted in Dubai until Oct. 18, where technology leaders and pioneers gather under one roof for five days to showcase the latest tech applications that will enrich the digital world’s revolution. 

The opening ceremony witnessed the visit of Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum, crown prince of Dubai and chairman of the Executive Council of Dubai, where he was welcomed by Zain Group’s Vice Chairman and Group CEO Bader Nasser Al-Kharafi and Zain Kuwait’s Chief Executive Officer Eaman Al-Roudhan. The ceremony was attended by Kuwaiti Consul General in Dubai Diab Al-Rashidi, as well as Zain’s executive management and strategic partners from global firms.

During his tour at Zain’s booth, Sheikh Hamdan bin Mohammed expressed his admiration of the role Zain plays in transforming the telecom sector in the Middle East, as well as the company’s efforts in advancing innovation within the enterprise sector that witnesses constant leaps of change in the region’s markets. 

GITEX Technology Week, organized by the Dubai World Trade Center and featuring the biggest global companies, organizations, and entities from the telecom and IT industry, is considered one of the biggest events in the industry around world. 

Through its participation in GITEX, Zain aims to showcase its capabilities as an active partner in achieving the goals of the Kuwait National Development Plan (New Kuwait 2035) that stems from Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah’s conceptualized vision of a new Kuwait by 2035, which is based on five expected outcomes and seven key pillars. Through its booth at GITEX, Zain provides the technologies required under each of the seven pillars to achieve the goals of the Kuwait National Development Plan. 

At GITEX, Zain offers its latest innovative solutions based on the seven pillars of the Kuwait National Development Plan, which are Smart Security, Smart Education, Smart Health, Smart Mobility, Smart Living, Smart Economy, and Smart Infrastructure. 

The smart solutions Zain showcases at GITEX include solutions for Smart Security, like access control, identity management, mass notification, video surveillance, intercampus communications, and business intelligence. Solutions for Smart Education include connected classrooms and virtual classrooms. Solutions for Smart Health include remote chronic illness management, remote medical collaboration solutions, health care cloud services, and more. 

Zain’s smart solutions also feature solutions for Smart Mobility, including smart parking, remote monitoring, and smart public signage. Solutions for Smart Living include smart districts, energy management, facility management, smart metering, smart lighting, smart benches, digital signage, and smart waste bins. Smart Economy solutions include the smart investment platform, E-Wallet, payment platform, and smart retail. Finally, Smart Infrastructure solutions include the integrated DNX Platform, which enables all individual services to run in a cohesive environment, and synergizes across applications by fusing data and analysis to provide a 360-degree platform view for digital service development, management, and operations.