The Saudi Mobile Telecommunication Co. (Zain KSA) recorded a net profit of SR260 million ($70 million) for the year 2020, a 46 percent decrease in earnings as compared to a previous net profit of SR485 million, the company stated on the Saudi stock exchange (Tadawul).

Read more: Zain KSA posts net profit of SR260 million for FY 2020

Ooredoo Group posted a net profit of QR1.1bn in 2020, which was down 35% year-on-year mainly due to lower EBITDA and one off gains in 2019 from the Indonesian tower sales. EBITDA declined by 6% year-on-year to QAR 12.1 billion in 2020, impacted by lower revenues and challenging market conditions across most markets.
Read more: Ooredoo Group posts net profit of QAR 1.1 billion in FY 2020

Etisalat Group announced its preliminary financial results for the year 2020, recording a 4% year-on-year growth in profits to reach 9 billion dirhams ($ 2.45 billion), benefiting from reduced operating expenses after the fourth quarter of 2019 saw allocations of 1.2 billion dirhams due to a decrease in value of the subsidiary company in Pakistan. These results are among the highest annual profits recorded by the group since 2016.

Read more: Etisalat Group registers highest annual profits in 5 years

Zain KSA has announced sealing an exclusive agreement with The Red Sea Development Company (TRSDC), offering telecommunications and internet services on the Red Sea’s sites during construction phase. Under this agreement, Zain KSA will ensure the coverage of these sites via its telecommunications and data network over a period of five years. With that, The Red Sea Project becomes the first construction zone to have 5G coverage in the Middle East.

Read more: Zain KSA to provide 5G coverage to Red Sea Development Company project sites

The Communications and Information Technology Commission (CITC) has announced that Saudi Telecom Company (STC) has the highest mobile download speed in the Kingdom, with a 5G network that reaches a speed of 342.35 Mbps. This was revealed in the 2020 Q4 Meqyas report on the average download speeds for 5G networks.

Read more: STC tops highest mobile download speed for 5G in KSA

Technology elevates travel with connectivity enabling a seamless and immersive digital experience in the new norm facilitating virtual travel to bridge the gap between both physical and digital worlds, said Eng. Hatem Dowidar, CEO, Etisalat Group.

Read more: Technology elevates travel with connectivity for seamless and immersive digital experience, says...

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