Company Insights Saudi Telecom Company Telecoms Saudi Telecom Company News Artificial Intelligence Aramco partners with US startup Groq for AI data centre Saudi Aramco’s digital arm is partnering with US semiconductor startup Groq to build the world’s largest artificial intelligence inferencing data centre. Unlike regular data centres, which handle a range of computing tasks, an AI inferencing data centre is designed specifically to run AI models that make rapid predictions or decisions. The facility will use Groq’s […] September 16, 2024 Trade Saudi Arabia anticipates US easing Nvidia chip ban Saudi Arabia is welcoming reports that the US government is considering lifting export restrictions on Nvidia chips to the kingdom, which maintains close trade ties with US rival China. Asked at an artificial intelligence (AI) forum in Riyadh if he would be content to see exports without limits, minister of industry and mineral resources Bandar […] September 16, 2024 Tech Global cloud platforms offer Saudis data protection promises Saudi Arabia’s cloud computing market is heating up as global players find a footing in the country with promises to secure government information. Saudi Arabia has set aside $18 billion to become a regional leader in cloud computing, the Saudi Data and AI Authority said this week, allowing foreign companies to open data centres. Saudi […] September 13, 2024 Analysis Markets PIF-backed Saudi companies increase dividends This week Saudi Arabia’s former telecom monopoly announced increased dividends. It became the latest company part-owned by the kingdom’s sovereign wealth fund and listed on Riyadh’s bourse to do so. The higher payouts provide a boost to the income of the Public Investment Fund, which it can then reinvest in higher-growth industries and accelerate Saudi’s […] August 30, 2024 Analysis Telecoms Saudi Telecom’s share surge raises prospect of PIF stake sale Saudi Telecom Co’s surprise dividend increase announcement has propelled its stock to a 13-month high and increased the likelihood that majority shareholder the Public Investment Fund may sell some of its stake in the former telecom monopoly. On Sunday, STC said it would pay SAR0.55 ($0.15) per share each quarter for three years starting from […] August 28, 2024 Tech Saudi telco STC approves three-year dividend policy Saudi Arabia’s STC Group has announced its new three-year dividend policy, committing a payout of SAR0.55 ($0.15) per share every quarter, starting in Q4 2024 and running until Q3 2027. The decision is subject to approval by the shareholders and the date of the general assembly will be announced soon. The telecom operator may consider paying […] August 25, 2024 Analysis Telecoms Telcos turning to tech to propel growth Fear of market irrelevance has spurred former Gulf telecom operators such as e& to bet on providing more sophisticated, tech-based services to consumers and businesses. This strategy differs from earlier efforts to create a vast geographic footprint for their operations, which, in many cases, led Gulf telcos to nurse billion-dollar losses. E&, which is listed […] August 15, 2024 Analysis Markets Saudi blue-chips help Gulf dividends dwarf global average Saudi companies form the bulk of Gulf businesses that have announced second quarter dividends, but it is the Commercial Bank of Kuwait that provided the highest dividend yield. Saudi Aramco, Bahrain’s Batelco and Dubai’s Tecom Group are other standouts by this metric. Of the listed Gulf companies with a market capitalisation of more than $1 […] August 13, 2024 Telecoms UAE’s e& revenue surges to $8bn in strong year for Gulf telcos Abu Dhabi-listed telco e& reported revenues of AED28 billion ($7.7 billion), rising 6 percent year on year, as the Gulf telecoms industry showed strong performance. Net profit grew by 17 percent to AED5.5 billion, driven by growth in local and international markets. Net earnings for the second quarter rose to AED3.2 billion, from AED2.5 […] August 2, 2024 Telecoms STC approves PIF purchase of telecom company Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion). Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […] July 26, 2024 Posts navigation Previous 1 2 3 … 7 Next
Artificial Intelligence Aramco partners with US startup Groq for AI data centre Saudi Aramco’s digital arm is partnering with US semiconductor startup Groq to build the world’s largest artificial intelligence inferencing data centre. Unlike regular data centres, which handle a range of computing tasks, an AI inferencing data centre is designed specifically to run AI models that make rapid predictions or decisions. The facility will use Groq’s […] September 16, 2024
Trade Saudi Arabia anticipates US easing Nvidia chip ban Saudi Arabia is welcoming reports that the US government is considering lifting export restrictions on Nvidia chips to the kingdom, which maintains close trade ties with US rival China. Asked at an artificial intelligence (AI) forum in Riyadh if he would be content to see exports without limits, minister of industry and mineral resources Bandar […] September 16, 2024
Tech Global cloud platforms offer Saudis data protection promises Saudi Arabia’s cloud computing market is heating up as global players find a footing in the country with promises to secure government information. Saudi Arabia has set aside $18 billion to become a regional leader in cloud computing, the Saudi Data and AI Authority said this week, allowing foreign companies to open data centres. Saudi […] September 13, 2024
Analysis Markets PIF-backed Saudi companies increase dividends This week Saudi Arabia’s former telecom monopoly announced increased dividends. It became the latest company part-owned by the kingdom’s sovereign wealth fund and listed on Riyadh’s bourse to do so. The higher payouts provide a boost to the income of the Public Investment Fund, which it can then reinvest in higher-growth industries and accelerate Saudi’s […] August 30, 2024
Analysis Telecoms Saudi Telecom’s share surge raises prospect of PIF stake sale Saudi Telecom Co’s surprise dividend increase announcement has propelled its stock to a 13-month high and increased the likelihood that majority shareholder the Public Investment Fund may sell some of its stake in the former telecom monopoly. On Sunday, STC said it would pay SAR0.55 ($0.15) per share each quarter for three years starting from […] August 28, 2024
Tech Saudi telco STC approves three-year dividend policy Saudi Arabia’s STC Group has announced its new three-year dividend policy, committing a payout of SAR0.55 ($0.15) per share every quarter, starting in Q4 2024 and running until Q3 2027. The decision is subject to approval by the shareholders and the date of the general assembly will be announced soon. The telecom operator may consider paying […] August 25, 2024
Analysis Telecoms Telcos turning to tech to propel growth Fear of market irrelevance has spurred former Gulf telecom operators such as e& to bet on providing more sophisticated, tech-based services to consumers and businesses. This strategy differs from earlier efforts to create a vast geographic footprint for their operations, which, in many cases, led Gulf telcos to nurse billion-dollar losses. E&, which is listed […] August 15, 2024
Analysis Markets Saudi blue-chips help Gulf dividends dwarf global average Saudi companies form the bulk of Gulf businesses that have announced second quarter dividends, but it is the Commercial Bank of Kuwait that provided the highest dividend yield. Saudi Aramco, Bahrain’s Batelco and Dubai’s Tecom Group are other standouts by this metric. Of the listed Gulf companies with a market capitalisation of more than $1 […] August 13, 2024
Telecoms UAE’s e& revenue surges to $8bn in strong year for Gulf telcos Abu Dhabi-listed telco e& reported revenues of AED28 billion ($7.7 billion), rising 6 percent year on year, as the Gulf telecoms industry showed strong performance. Net profit grew by 17 percent to AED5.5 billion, driven by growth in local and international markets. Net earnings for the second quarter rose to AED3.2 billion, from AED2.5 […] August 2, 2024
Telecoms STC approves PIF purchase of telecom company Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion). Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […] July 26, 2024
