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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

Saudi Arabia awarded G5 status by ITU

     

    • The kingdom achieves the G5 regulator classification two years ahead of the targeted date of 2023

    • ITU’s G5 classification is reserved for the world’s most advanced and high-performing ICT regulators

     

    Saudi Arabia has been upgraded to the status of fifth-generation (G5) regulator by the International Telecommunications Union (ITU), the United Nations specialized agency overseeing all matters related to information and communication technologies (ICT).

    The announcement was made during the Global Symposium for Regulators’ virtual event.

    The ITU’s ICT Regulatory Tracker is a tool used to classify the maturity of ICT regulatory frameworks across 193 countries. It is made up of 50 indicators divided into four pillars: regulatory authority, regulatory mandate, regulatory regime, and competition framework.

    The tool tracks countries’ progress from first-generation regulation (G1), in which regulated public monopolies employ a command-and-control approach, to fifth-generation regulation (G5), the highest level of regulatory framework in which regulatory agencies collaborate with a wide range of stakeholders to develop a harmonized approach across sectors now reliant on ICT.

    The Communications and Information Technology Commission’s (CITC) recent transformation from a telecom regulator to a digital regulator has paved the way for the next generation of ICT regulation in the Kingdom.