Page 74 - SAMENA Trends - Oct-Nov 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Positive Q3 at Du

United Arab Emirates (UAE) fixed and
mobile operator Du has reported net profit
of AED502.4 million (USD137 million)
for the three months to 30 September
2023, up 57.7% year-on-year driven by
rising service revenue and an increase
in new subscriptions. Revenues were up
3.7% at AED3.29 billion, boosted by 5.7%
growth for mobile services. EBITDA rose
by 13.8% to AED1.48 billion and operating
cash flow increased by 65.1% to AED956
million. The mobile subscription base was
up 9.4% y-o-y at 8.1 million, boosted by a additions. Fixed broadband subscriptions reached 573,000 at end-September, up
ninth consecutive quarter of post-paid net continued their double-digit growth and 12.4% annually.

IT Minister Underscores SIFC Initiatives to Revolutionize IT, Telecom in
Pakistan

The Minister for Information Technology
and Telecommunications Dr. Umar Saif
highlighted the recent policy changes by
the Special Investment Facilitation Council
(SIFC) in Pakistan, aimed at supporting
the IT and telecom sectors. Speaking to a
high-level delegation led by his Malaysian
counterpart Fahmi Fadzi in Dubai at the
GITEX-23 sidelines meeting, Dr. Saif said
that the State Bank of Pakistan (SBP) has
authorized a 50% retention of IT export
remittances in foreign currency (FCY)
accounts. Policies have been implemented
to ensure smooth and hassle-free cash
flows for IT exporters through online
banking and corporate debit cards,
he added. These developments also and policies regarding the rollout of 5G underscoring the importance of adopting
encompass various initiatives aimed at technology. “Malaysia has rolled out 5G best practices from the Malaysian
simplifying Right of Way (ROW) charges, at a lightning pace using a very innovative Regulator. Both Ministers engaged in a
boosting infrastructure sharing, advancing Spectrum Sharing policy. We will work with dialogue regarding Pakistan’s path to
the 5G spectrum, and enhancing IT export our Malaysian counterparts to learn about adopting 5G technology and the challenges
retention. Dr. Saif said the federal cabinet their innovative approach and policies” the impeding this transition. The Malaysian
granted approval for an advisory Committee minister said. The meeting encompassed Minister pledged to share best practices to
for Pakistan’s 5G Spectrum auction a crucial technology topics with the objective facilitate this transition. The meeting also
major step toward digital Pakistan. In of strengthening collaboration between the featured a discussion on the International
a related context, the Minister Expand two nations. During the meeting, Dr. Saif Telecommunication Union (ITU) and
North Star, an international showcase explored the realm of financial technology its potential benefits for both Pakistan
of innovation and cultural exchange. (Fintech) and touched upon Starlink, the and Malaysia in the technology sector.
The Pakistan Pavilion was thoughtfully satellite internet company, making inroads The meeting involved a commitment to
designed to encapsulate the country’s into Malaysia. The discussion extended enhance coordination and discussions
progress and potential, welcoming visitors to the potential implementation of LYNC, in the forthcoming months, signifying
with open arms. Moreover, the minister with a commitment to sharing experiences the growing partnership between the two
expressed Pakistan’s intention to learn and knowledge. Dr. Saif drew attention to countries.
from Malaysia’s innovative approach Pakistan’s network coverage challenges,

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