Search Site

Trends banner

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.

Zain Group 9M net profit $492m

The company's fourth-quarter net profit was $78m
  • An interim cash dividend of 10 fils, totaling $140 million was distributed in September 2022.
  • The company added 3.5 million active subscribers to a total of 52 million customers, a 7 percent  year-on-year growth.

Kuwait City, Kuwait—Telecom major Zain Group has reported a net profit of KD152 million ($492 million) for the first nine months of 2022 and said its revenue rose by 12 percent in the same period to reach KD 1.3 billion.

In a statement, the group said the digital services revenue was up 47 percent and fintech customer growth was 34 percent, with revenue increasing by 231 percent. Kuwait, Saudi Arabia and Sudan were the top performing markets.

An interim cash dividend of 10 fils, totaling $140 million was distributed in September 2022.

The statement said that subsiding of the pandemic and increased economic activity across all markets combined with appealing consumer digital service offerings centered around streaming and gaming, had a positive effect on the results.

“Furthermore, lucrative ZainTech and B2B monetization initiatives amplified investments made in 4G, 5G and FTTH expansion and upgrades, also drove revenue growth,” the statement reads.

Bader Al-Kharafi, Vice Chairman & Group CEO: “This outstanding 9M operational performance is testament to the successful execution of the ‘4Sight’ growth strategy”

The company added 3.5 million active subscribers to a total of 52 million customers, a 7 percent  year-on-year growth.