Saturday 30 July 2016

Oracle buys NetSuite for $9.3bn

Oracle today announced that it has entered into a definitive agreement to acquire NetSuite, the very first cloud company. The transaction is valued at $9.3 billion. “Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever,&rdquo


Zain Saudi Q2 net loss widens, misses forecasts

Telecommunications operator Zain Saudi reported a wider second-quarter loss on Thursday, missing analysts' forecasts. The company has yet to make a quarterly profit since launching services in 2008 and has battled to compete against better-resourced rivals Saudi Telecom Co an


Ooredoo Oman H1 net profit up 12.2pc

Ooredoo Oman, a top telecom provider in the Sultanate, has reported net profit of RO24.9 million ($64.4 million) for the first half of 2016 as compared with RO22.2 million in the same period of 2015, marking an increase of 12.2 per cent. Increase in net profit for the year is dri


Pacific Controls in bank talks about $381m debt

Pacific Controls, a Dubai-based technology company, is in talks with banks about restructuring debts of Dh1.4 billion ($381 million), sources told Reuters, one of the largest firms to have to do so since the emirate's economy began to slow. It is also set to be the highest-pr


Etisalat Q2 profit rises 51pc to $631m

Abu Dhabi-listed Etisalat reported a 51 percent rise in second-quarter net profit on Wednesday on the back of foreign exchange gains and lower finance costs and royalties. Etisalat, which directly and indirectly operates in about 18 countries across the Middle East, Africa and As


Western Union, du to offer services benefits

The Western Union Company, a leader in global payment services, has signed an agreement with du, a leading telecom provider in the UAE, aiming to pursue joint efforts to benefit subscribers. The agreement was signed by Osman Sultan, CEO, du, and Jean-Claude Farah, executive vice


Airbus unit in tie-up to combat illegal drones

Airbus DS Electronics and Border Security (EBS) and Dedrone, San Francisco, have signed a cooperation agreement and are joining forces to counter the threat posed by small drones. The partners intend to jointly offer counter-UAV systems that allow unmanned aerial vehicles (UAVs)


Ericsson names GCC customer units head

Ericsson has announced that Tarek Saadi has been appointed head of Global Customer Unit (GCU) Zain as well as head of Customer Unit for the GCC and Pakistan within Ericsson Region Middle East and East Africa. In his new role, Saadi will be responsible for Key Accounts in the GCC


Cisco warns against nextgen ransomware

Most organisations are unprepared for future strains of more sophisticated ransomware, a report said, highlighting that fragile infrastructure, and slow detection rates are providing ample time and air cover for adversaries to operate. The struggle to constrain the operational sp


Ooredoo Group posts H1 revenue of $4.36bn

Qatar-based telecom group Ooredoo has posted revenues of QR15.9 billion ($4.36 billion) for the first half (H1) of the year, as against revenues of QR16.04 billion for H1 2015, marking a dip of one per cent. Group EBITDA stable at QR6.5 billion with an improved EBITDA margin of 4

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