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Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Stc posts US$2.5bn profit in Q3

The contract has been signed for a period of 42 months. (WAM)
By TRENDS Desk
October 29, 2022 3:18 pm
  • The telecom company's revenues hit $13.33 billion during the nine-month period, up from $12.53 billion last year, which was offset by lower cost of revenue
  • During the third quarter, stc’s profits jumped 21 percent to reach $933 million

Riyadh, Saudi Arabia—Saudi Telecom Co. has posted a profit of $2.5 billion for the first nine months of 2022.

The telecom company’s revenues hit $13.33 billion during the nine-month period, up from $12.53 billion last year, which was offset by lower cost of revenue.

During the third quarter, stc’s profits jumped 21 percent to reach $933 million.

stc’s CEO attributed the positive results of the third quarter to the commitment to an integrated strategy and multi-sector investments, according to a statement.

This reflected significantly on profit growth and helped achieve sustainable yields for shareholders, Olayan Al Wetaid said.

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