Mobily Signs Agreement with Huawei to Enhance its Cloud, Digital Services

Photo by SPA
Photo by SPA
TT

Mobily Signs Agreement with Huawei to Enhance its Cloud, Digital Services

Photo by SPA
Photo by SPA

Mobily has signed a Memorandum of Understanding (MoU) with Huawei to collaborate on cloud services and enhance its digital and Internet of Things (IoT) B2B offerings.

The agreement is part of Mobily’s wider strategy to accelerate the adoption of advanced technologies that can deliver exciting new services to the consumer, industry, and governmental sectors, according to SPA.

The partnership deal was signed during a special ceremony at Huawei’s headquarters in Shenzhen, China between representatives of Mobily and Huawei.

Under the agreement, both parties will work closely on a range of areas that aim to level up Mobily’s digital offerings in Saudi Arabia.

CEO of Mobily Eng. Salman Albadran said: “Our new partnership with Huawei is the latest example of how Mobily is continuing to build upon the success we have already achieved in the digital and telecoms fields. We are investing in new technologies such as cloud computing and IoT while continuing to push ahead with further digitization and enhancement of services and solutions. As a company, we are determined not to rest upon our previous success and continue to push to higher achievements in realizing Saudi Vision 2030 goals.”

For his part, Huawei President for Middle East and Central Asia Steven Yi said: “We are delighted to have finalized this agreement with Mobily. The partnership perfectly complements the strengths of both companies in a way that will truly deliver on the goals of the MoU."

"Huawei brings extensive experience and expertise in digital technology for a wide range of use cases, and we are looking forward to working with Mobily to deliver game-changing solutions to meet the evolving needs of consumers and public and private organizations,” he added.

The MoU aims to form a framework of collaboration between Mobily and Huawei for the next 2-3 years in the two areas while setting a clear goal to create an action plan for further cooperation after signing the agreement.



Saudi Transport, Logistics Sector Set for 10% Growth in Q2

An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)
An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)
TT

Saudi Transport, Logistics Sector Set for 10% Growth in Q2

An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)
An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)

As Saudi companies start reporting their Q2 financial results, experts are optimistic about the transport and logistics sector. They expect a 10% annual growth, with total net profits reaching around SAR 900 million ($240 million), driven by tourism and an economic corridor project.

In Q1, the seven listed transport and logistics companies in Saudi Arabia showed positive results, with combined profits increasing by 5.8% to SAR 818.7 million ($218 million) compared to the previous year.

Four companies reported profit growth, while three saw declines, including two with losses, according to Arbah Capital.

Al Rajhi Capital projects significant gains for Q2 compared to last year: Lumi Rental’s profits are expected to rise by 31% to SAR 65 million, SAL’s by 76% to SAR 192 million, and Theeb’s by 23% to SAR 37 million.

On the other hand, Aljazira Capital predicts a 13% decrease in Lumi Rental’s net profit to SAR 43 million, despite a 44% rise in revenue. This is due to higher operational costs post-IPO.

SAL’s annual profit is expected to grow by 76% to SAR 191.6 million, driven by a 29% increase in revenue and higher profit margins.

Aljazira Capital also expects a 2.8% drop in the sector’s net profit from Q1 due to lower profits for SAL and Seera, caused by reduced revenue and profit margins.

Mohammad Al Farraj, Head of Asset Management at Arbah Capital, told Asharq Al-Awsat that the sector’s continued profit growth is supported by seasonal factors like summer travel and higher demand for transport services.

He predicts Q2 profits will reach around SAR 900 million ($240 million), up 10% from Q1.

Al Farraj highlighted that the India-Middle East-Europe Economic Corridor (IMEC), linking India with the GCC and Europe, is expected to boost sector growth by improving trade and transport connections.

However, he warned that companies may still face challenges, including rising costs and workforce shortages.