Latest news with #digital services
Zawya
2 days ago
- Business
- Zawya
Zain KSA reports 28% increase in H1 net profit
With revenues Reaching SAR 5.344 Billion Zain KSA, a leading provider of telecommunications and digital services in Saudi Arabia, announced its financial results for the first half of 2025. The Company reported a 5% year-on-year growth in total revenues to SAR 5.344 billion. This drove a 28% y-o-y surge in net profit, reaching SAR 220 million for the period. Earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose by 7%, to SAR 1.664 billion. These results reflect the Company's sustained positive financial performance, driven by revenue from growing business operations and ongoing investments that aim to deliver a superior user experience. The sustained growth stems from Zain KSA's expanding portfolio of 5G products, solutions, and services. This is also a result of the broader reach of 4G and 5G networks across the Kingdom, as well as a higher demand for direct consumer offerings, particularly through the all-digital service Yaqoot. The Company continues to see strong performance from its investments in adjacent markets, including FinTech, led by the increasing demand for services offered by Tamam. Commenting on the results, Eng. Saad bin Abdulrahman AlSadhan, CEO of Zain KSA, stated: 'Innovation and progress centered on national and human development are at the heart of Zain KSA's strategy. Our commitment is to support nationwide progress and enrich the lives of people, and we place these priorities at the forefront of every strategic investment, in line with Saudi Vision 2030's economic, social, and digital goals.' AlSadhan added: 'Our H1 2025 financial results reaffirm the continued growth of our operations and financial metrics, anchored in sustainability and effective governance. This performance has further cemented our position as the telecoms and digital services provider of choice in the Kingdom. During Hajj season 1446H, Zain KSA demonstrated its digital leadership by enhancing pilgrims' experiences through AI-powered services, delivering a truly exceptional digital journey backed by our advanced 5G infrastructure. We began deploying 5G Stand-Alone network over the 600 MHz low band and successfully extended 4G and 5G coverage within Riyadh's Abu Bakr Al-Siddiq Tunnel, one of the longest tunnels in the Middle East.' 'Within Zain KSA, we remain focused on building a healthy, sustainable workplace that prioritizes employee wellbeing and supports professional growth. Our efforts were honored at the Council of Health Insurance (CHI) Excellence Awards 2024, where we received two accolades for Best Employer Health & Wellbeing Program for Large Enterprises and Health Awareness Excellence for Large Enterprises.' Committed to delivering a best-in-class digital experience, Zain KSA has launched a pioneering service enabling visitors to Saudi Arabia to register and verify their SIM cards through Yaqoot, using the Ministry of Interior's 'Absher' app authentication service (WTHIQ). This innovative integration makes Yaqoot the first digital telecom service in Saudi Arabia to offer online SIM verification.
Yahoo
6 days ago
- Business
- Yahoo
Infosys: Industry-leading Sequential Growth of 2.6% in CC, Driven by Differentiated Value Proposition in Enterprise AI
- Large Deal Wins at $3.8 Billion with 55% Net New; Demonstrating Deep Competitive Advantage in Consolidation Play- FY26 Revenue Guidance Revised to 1%-3% and Margin Guidance Retained at 20%-22% BENGALURU, India, July 23, 2025 /CNW/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered $4,941 million in Q1 revenues, year-on-year growth of 3.8% and sequential growth of 2.6% in constant currency. Operating margin was at 20.8%. Free cash flow generation was strong at $884 million, 109.3% of net profit. TCV of large deal wins was $3.8 billion, with 55% net new. ROE improved by 140 bps to 30.4%. "Our performance in Q1 demonstrates the strength of our enterprise AI capabilities, the success in client consolidation decisions, and the dedication of our over 300,000 employees," said Salil Parekh, CEO and MD. "Our large deal wins of $3.8 billion reflect our distinct competitive positioning and deep client relationships," he added. 2.6% QoQ3.8% YoY CC Growth 20.8% Operating Margin 8.6% YoYEPS Increase (₹ terms) $3.8 Bn Large Deal TCV(55% Net New) $884 Mn Free Cash Flow Guidance for FY26: Revenue growth of 1%-3% in constant currency Operating margin of 20%-22% Key highlights: For the quarter ended June 30, 2025 Revenues in CC terms grew by 3.8% YoY and by 2.6% QoQ Reported revenues at $4,941 million, growth of 4.8% YoY Operating margin at 20.8%, decline of 0.3% YoY and decline of 0.2% QoQ Basic EPS at $0.20, increase of 5.8% YoY FCF at $884 million, decline of 19.2% YoY; FCF conversion at 109.3% of net profit "Q1 performance is a clear reflection of our unwavering focus on multiple fronts resulting in strong growth at 2.6% QoQ, resilient margins at 20.8% and EPS increase of 8.6% YoY. We continue to leverage Project Maximus to make investments in strategic priorities to drive profitable growth and enhance shareholder value," said Jayesh Sanghrajka, CFO. "Cash flow conversion was well above 100% for the fifth consecutive quarter. The impact of currency volatility was effectively managed through our proactive hedging strategy," he added. Client wins & Testimonials Infosys announced the extension of its strategic collaboration with Select Portfolio Servicing, Inc. (SPS) to help drive greater operational efficiency and service quality through a fully managed services offering encompassing hybrid cloud solutions, application portfolio, IT operations, IaaS, SaaS, security operations and quality assurance. Murali Palanganatham, Chief Information Officer, SPS, said, "Infosys has been a key strategic partner over the last 20 years. SPS will leverage Infosys Topaz for AI adoption across the business, technology, and enterprise functions to continuously enhance availability, scalability, performance, resiliency, security, and stability. This collaboration is critical and will help SPS enhance flexibility, efficiency, and predictability of our technology ecosystem." Infosys extended its strategic collaboration with AIB to accelerate its digital transformation initiatives. Graham Fagan, Group Chief Technology Officer, AIB, said, "This extended collaboration with Infosys aligns strongly with our vision to progressively modernise our technology and data capabilities to deliver the best outcomes for our customers and further accelerate our transformation. By combining our collective expertise and experience, we will deliver on our customer-first commitment and enhance operational efficiency and resilience. Infosys has been a trusted innovation partner, and we are excited about this next chapter in our collaboration as we work together to ensure AIB remains at the forefront of digital transformation in the Irish banking industry." Infosys announced a strategic collaboration with to enable AI-powered digital workplace transformation across Europe. Dr. Victoria Ossadnik, COO Digital and Innovation, said, "At we are playmakers for new energy. Digitalization and digital technology are key for reliable, affordable and sustainable energy systems. Our strategic partnership with Infosys is essential for our digital transformation and operation - together, we are paving the way for a smarter, more efficient energy future." Infosys announced the expansion of its strategic collaboration with DNB Bank ASA (DNB) to accelerate the bank's digital transformation. Elin Sandnes, COO and Group Executive Vice President Technology & Services, DNB, said, "At DNB, we are focused on leveraging technology to create great customer experiences. As part of this, we are constantly developing new products and services while simultaneously driving a digital transformation agenda that is deeply rooted across all our operations. With our extended collaboration with Infosys, we are modernizing our IT infrastructure and leveraging advanced technologies like AI and ML to enable seamless, personalized, and agile services to our customers. This partnership allows us to proactively address our customers' evolving needs and ensure they receive the best possible banking experience from DNB." Infosys announced a strategic collaboration with Yorkshire Building Society, one of the largest member-owned financial institutions in the UK, to accelerate its digital transformation. Patrick Connolly, Director of Change Delivery, Yorkshire Building Society, said, "This collaboration is crucial to achieving our 2030 ambitions and realising the true potential of this organisation. The choices we make now will shape our future, and we are committed to combining the convenience of digital with the warmth of human interaction. This transformation will empower our members and colleagues with the tools and services needed to deliver great customer outcomes, including major investments such as faster payments and enhanced security. It's a key part of our plan for continued growth, innovation, and efficiency, ensuring we continue to serve our members for generations to come." Infosys and Spark New Zealand announced a strategic agreement to support the transformation of Spark's technology delivery model through digital innovation. Matt Bain, Data and Marketing Director, Spark, said, "Infosys has collaborated with Spark for over 16 years, working alongside our local teams to support the applications that enable Spark to deliver new products and digital experiences for our customers. We are now building on this relationship to allow our teams to focus on our technology strategy and the product roadmaps that will grow our competitive advantage, while leveraging Infosys' global scale to execute these plans quickly and efficiently and accessing Infosys' investment in AI and innovation to enable us to keep delivering great experiences for our customers." Infosys collaborated with Perfection Fresh to enable seamless tracking of their sustainability efforts. Francesco Oliveri, Chief Information Officer, Perfection Fresh Australia, said, "Our Partnership with Infosys to implement Microsoft Sustainability Manager has helped us in providing real-time visibility of produce across all locations thereby improving operational efficiency, audit transparency and reducing wastage. Originally planned for just 4 sites, the rollout extended to all 17 locations thanks to Infosys' expertise and collaboration. It was also their vision and commitment to sustainability that matched our vision that allowed us to be more comfortable in working with Infosys. The partnership has been instrumental in driving key milestones for Perfection Fresh's sustainability roadmap." Infosys Finacle announced a strategic collaboration with Bank of Sydney (BoS) to power its digital transformation with Infosys Finacle Digital Banking Suite. Melos Sulicich, Chief Executive Officer, Bank of Sydney, said, "At Bank of Sydney, our strategic goal is to become the leading deposit bank in Australia and to drive significant business growth in the coming years. This requires adapting to rapidly changing customer needs, digital advancements, and regulatory requirements. Transforming our technology stack, centered around our core and digital banking platform, is crucial to meeting these objectives. With Infosys Finacle, we have a proven transformation partner and a next-generation banking platform to address the evolving needs of our business, customers, and regulatory ecosystem." Infosys BPM announced the launch of AI agents for invoice processing within its flagship Infosys Accounts Payable on Cloud solution. Harsh Bansal, Chief Financial Officer and Chief Growth Officer, Americana Restaurants, said, "At Americana Restaurants, we are committed to leading digital transformation, and as we scale our operations, intelligent automation is key to achieving greater efficiency and agility. With AI-powered Infosys Accounts Payable on Cloud, we have made invoice processing faster, enhanced accuracy, and improved efficiency. The addition of Agentic AI takes this a step further, reducing manual dependencies and bringing more intelligence and autonomy into our invoice processing. We are delighted that we have pioneered this initiative with Infosys and look forward to closely working with Infosys BPM to lead us collectively into a future of smarter and more agile operations." Infosys announced a three-year strategic collaboration with the Lawn Tennis Association (LTA) to deliver a range of AI-powered innovations, including match insights and immersive fan experiences. Chris Pollard, Managing Director, Commercial & Operations, LTA, said, "We are incredibly excited to witness the historic moment of the HSBC Championships at Queen's Club hosting both WTA and ATP 500 events for the very first time. This milestone marks a significant step in the growth and evolution of this prestigious tournament. We are thrilled to collaborate with Infosys, whose support will be instrumental in delivering an enhanced fan experience. Infosys' AI and technology innovations will bring a new level of engagement with real-time insights and interactive moments, creating memorable experiences for our fans and contribute to the continued success of the HSBC Championships." Infosys and Economist Impact announced the launch of The Sustainability Atlas to help businesses navigate a sustainable future. Jonathan Birdwell, Global Head of Policy & Insights, Economist Impact, said, "Over the past decade, Economist Impact has built dozens of indices and published hundreds of reports across a wide range of sustainability topics from food security to plastics management, to climate resilience. But never before have we been able to bring all of that data and insights together in one place. Leveraging Infosys' generative AI capabilities, The Sustainability Atlas provides easily accessible and actionable insights to policy makers and business leaders worldwide." Recognitions & Awards Brand & Corporate Recognized as a Top 100 most valuable brand in the world by Kantar BrandZ and ranked among the most-trusted brands in India and the US Recognized as one of the top 3 companies (on combined basis) in 5 categories – Best CEO, Best IR Professional, Best IR Program, Best IR Team and Best ESG Program – at the 2025 Asia Executive Team Survey by Extel (formerly Institutional Investor Research) Recognized as a Great Place to Work 2025-2026 in India and China Infosys BPM won at the Diversity Charter Awards 2025 in the 'Employer Supporting Women in the Workplace' category for its HR initiative, namely 'Empower with Care' Infosys BPM won the PeopleFirst HR Excellence Awards 2025 for 'Leading Practices' in Learning & Development Digital, AI and Cloud Services Positioned as a leader in the Everest Group: Microsoft Modern Work Services PEAK Matrix® Assessment 2025 Positioned as a leader in the Everest Group: Marketing Services PEAK Matrix® Assessment 2025 Positioned as a leader in the Everest Group: Talent Readiness for Next-generation Application Services PEAK Matrix® Assessment 2025 Recognized as a leader in HFS Horizons: The Best of Engineering Research and Development Service Providers, 2025 Recognized as a leader in the Constellation Research: Constellation ShortList™ Cross-Platform Agentic AI Recognized as a leader in Datos: The New Era of Check Fraud Detection: A Guide to Market Solutions Infosys BPM recognized as a Leader in ISG Provider Lens™ Global Capability Center (GCC) Services 2025 Study Infosys BPM recognized as a Leader in ISG Provider Lens™ Procurement Services 2025 Study Received the Customer Innovation Award from Databricks for delivering impactful solutions across industries Received Global System Integrator of the Year-EMEA award at Stibo's PATH Summit 2025 Industry & Solutions Positioned as a leader in the Everest Group: Life Sciences Digital Services PEAK Matrix® Assessment 2025 Positioned as a leader in the Everest Group: Life Sciences Enterprise Platform Services PEAK Matrix® Assessment 2025 Positioned as a leader in the Everest Group: Retail Services PEAK Matrix® Assessment 2025 Recognized as a leader in HFS Horizons: Energy and Utilities Service Providers, 2025 Recognized as a leader in HFS Horizons: Intelligent Retail and CPG Ecosystems, 2025 Recognized as a leader in HFS Horizons: Insurance Services, 2025 Infosys Finacle recognized as a Market Leader in the Datos Matrix: Virtual Account Management Providers 2025 report. Infosys Finacle won two awards at IBS Intelligence Digital Banking Awards 2025: 'Regional Winners | Middle East – Zand Bank & Infosys Finacle' and 'Segment Winner | Corporate Banking - Zand Bank & Infosys Finacle' Infosys Finacle won two awards at the MEA Finance Banking Technology Awards 2025: 'Best Composable Banking Solutions Provider of the Year' and 'Best Corporate Banking Solutions Provider' Infosys Finacle won four awards at Finnovex North Africa – Egypt 2025: 'Excellence in Banking Platform Modernization with ALEXBANK Egypt', 'Excellence in Seamless Banking Experiences with Export Development Bank of Egypt', 'Excellence in Core Banking Transformation with Agricultural Bank of Egypt' and 'Excellence in Composable Banking Platform Read more about our Awards & Recognitions here. About Infosys Infosys is a global leader in next-generation digital services and consulting. Over 320,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in 59 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace. Visit to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next. Safe Harbor Certain statements in this release concerning our future growth prospects, our future financial or operating performance, and the McCamish cybersecurity incident are forward looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid working model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, the outcome of pending litigation, the amount of any additional costs resulting directly or indirectly from the McCamish cybersecurity incident, and the outcome of the government investigation. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2025. These filings are available at Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law. Infosys Limited and subsidiariesExtracted from the Condensed Consolidated Balance Sheet under IFRS as at: (Dollars in millions)June 30, 2025 March 31, 2025 ASSETS Current assets Cash and cash equivalents 3,202 2,861 Current investments 887 1,460 Trade receivables 3,780 3,645 Unbilled revenue 1,588 1,503 Other current assets 1,787 1,890 Total current assets 11,244 11,359 Non-current assets Property, plant and equipment and Right-of-use assets 2,223 2,235 Goodwill and other Intangible assets 1,666 1,505 Non-current investments 1,241 1,294 Unbilled revenue 262 261 Other non-current assets 811 765 Total non-current assets 6,203 6,060 Total assets 17,447 17,419 LIABILITIES AND EQUITY Current liabilities Trade payables 422 487 Unearned revenue 994 994 Employee benefit obligations 385 340 Other current liabilities and provisions 3,353 3,191 Total current liabilities 5,154 5,012 Non-current liabilities Lease liabilities 693 675 Other non-current liabilities 480 477 Total non-current liabilities 1,173 1,152 Total liabilities 6,327 6,164 Total equity attributable to equity holders of the company 11,069 11,205 Non-controlling interests 51 50 Total equity 11,120 11,255 Total liabilities and equity 17,447 17,419 Extracted from the Condensed Consolidated statement of Comprehensive Income under IFRS for:(Dollars in millions except per equity share data)3 months ended June 30, 2025 3 months ended June 30, 2024 Revenues 4,941 4,714 Cost of sales 3,416 3,259 Gross profit 1,525 1,455 Operating expenses: Selling and marketing expenses 258 232 Administrative expenses 239 229 Total operating expenses 497 461 Operating profit 1,028 994 Other income, net (3) 110 88 Profit before income taxes 1,138 1,082 Income tax expense 329 318 Net profit (before non-controlling interest) 809 764 Net profit (after non-controlling interest) 809 763 Basic EPS ($) 0.20 0.18 Diluted EPS ($) 0.19 0.18 NOTES: The above information is extracted from the audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the quarter ended June 30, 2025, which have been taken on record at the Board meeting held on July 23, 2025. A Fact Sheet providing the operating metrics of the Company can be downloaded from Other income is net of Finance Cost. IFRS-INR Press Release: Fact sheet: Logo: View original content: SOURCE Infosys View original content:
Auto Express
6 days ago
- Automotive
- Auto Express
Hyundai to go football crazy with FIFA-themed in-car screens
Enabled by over-the-air updates, the downloads are part of a growing number of digital services rolling out in Hyundai's Bluelink store. Details are still being worked out, but the Korean giant wants to expand its existing marketing partnership with global football governing body FIFA inside its cars. No word yet on whether it'll be one-size-fits-all 2026 World Cup branding or whether England fans could have a red-and-white St George's Cross tinge to their in-car screens – assuming the team qualifies. These digital tweaks will certainly be more fuel-efficient than football fans plastering their cars in drag-creating flags that hammer the fuel economy but we worry about the residual value if an England-themed Hyundai found its way to a dealer in Scotland, for example. Advertisement - Article continues below Football isn't the only theme Hyundai is considering – a tie-up with licence-holders for cartoon strip Peanuts is also on the cards, meaning Charlie Brown and Snoopy could be hitching a ride in Hyundais soon. See how much you can save on a connected Hyundai in the Auto Express Find a Car digital marketplace, where you can buy or lease new cars, browse thousands of used models and even sell your current car . It's all part of a new battleground in the automotive value chain: in-car purchases. Skip advert Advertisement - Article continues below Hyundai's new flagship EV, the Ioniq 9 SUV, has three digital upgrades coming to the UK in August 2025: a version of the Ioniq 5 N's virtual gearshift operated by the 9's brake paddles and six new lighting patterns as you approach the car. Both are set to cost around £100. Two alternative infotainment displays, one inspired by nature and the other a retro take referencing the 1975 Hyundai Pony, will be free downloads. More broadly appealing will be the roll-out of an entertainment package around the turn of 2026: owners will be able to upgrade and watch streaming services such as Disney+ or Netflix while they charge their cars. In-car payments – already enabled in the USA and Germany – will also come to the UK, around the turn of 2025. The first scheduled service is paying for location-based parking with a couple of infotainment clicks, with the session terminating as the car leaves the parking garage. Expect to see this extended to fuelling your car and paying for road tolls too – once UK service partners have been secured. Advertisement - Article continues below Hyundai aims to roll out 2-3 big updates a year, the firm's director of connected car services Guido Gehlen told Auto Express. The car maker starts with a small sample of cars, then when it's satisfied the update is trouble-free scales it up over a few months. Google Places – which adds information such as user ratings, images and opening hours to shops and attractions – has been updated into the navigation system on connected versions of the Kona, Ioniq 5, Santa Fe and Tucson. Gehlen's team has added emergency vehicle alert to connected Hyundais and Kias in the Netherlands. Every ambulance, police car and fire engine is tracked on a government database, which has been plumbed into the navigation system. As a result, drivers should be better able to avoid that confusion of trying to work out which direction an emergency siren is coming from, to quicker clear a path when necessary. And the alert system could work the other way, enabling Hyundais to feed back information to the authorities about shocking potholes. 'The Netherlands would like camera and suspension data about the quality of streets,' says Gehlen. 'It's more complicated because we have to anonymise the data but we are working on it. You could take the information from one car and share it with the whole fleet.' Come and join our WhatsApp channel for the latest car news and reviews... Find a car with the experts MG4 and MGS5 EV prices slashed in reply to Government Electric Car Grant MG4 and MGS5 EV prices slashed in reply to Government Electric Car Grant In order to boost sales, MG is announcing its own a £1,500 grant for some of its EVs Chinese cars will take over as Britain's best sellers Chinese cars will take over as Britain's best sellers With a dramatic rise in sales, Mike Rutherford thinks it's only a matter of time before Chinese cars outsell all other countries in the UK Roll over diesel: EVs are now doing the big mileage in the UK Roll over diesel: EVs are now doing the big mileage in the UK The average UK electric car now covers more than 10,000 miles per year, a similar amount to the average diesel.
Yahoo
21-07-2025
- Business
- Yahoo
Opinion: Focus on tariffs is ignoring Canada's fastest-growing trade opportunity
With the latest 35 per cent tariff threat from United States President Donald Trump, the national trade discussion and news headlines are, understandably, fixated once again on tariffs on goods and what to do about them. As a relatively small, open economy, Canada relies heavily on trade — especially trade with our neighbour and the world's largest market — to sustain living standards. But focusing only on physical goods risks missing a major opportunity. Canada's fastest-growing export category is not oil or autos. It is digitally delivered services. These services are delivered remotely or sold via digital platforms. Digital services do not move across physical borders. They move through code, platforms and cross-border data flows. Over the past 20 years, they have grown nearly four times faster than Canada's other exports, yet they remain largely absent from the national trade conversation. A new discussion paper from the Asia Pacific Foundation of Canada points out that digital service exports now account for almost two-thirds of Canada's commercial services exports. Growth is strongest in sectors such as software, engineering, audiovisual services and IT consulting. Digital services are also the fastest-growing part of global trade. Since 2005, they have grown more than three times faster than goods trade globally. Their share of total world services exports has climbed to more than 50 per cent from 30 per cent. The fastest-growing importers of digital services include Indonesia, Vietnam, Chile, Peru, the Philippines and India, where demand for digital solutions is growing rapidly across sectors such as information technology, fintech and e-commerce. Many fast-growth markets now import more digital services than traditional goods. Cloud-based collaboration, seamless and instant language translation, and digital platforms are accelerating this shift. New artificial intelligence (AI) developments further expand the menu of what can be traded globally. Canada has the foundations in place to seize this opportunity. This country has world-class AI researchers, firms that are digitally enabled and diaspora connections to emerging digital markets. Canadians are also among the top global users of generative AI tools. The federal government now has a dedicated minister for AI and digital innovation. Canadian trade policymakers have been leaders in including digital provisions in trade agreements. The Canada-U.S.-Mexico Agreement (CUSMA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) already contain modern digital trade rules, and Canada has just announced a new digital trade agreement to be negotiated alongside the Canada-European Union Comprehensive Economic and Trade Agreement (CETA). But despite all these tools, Canada is punching far below its weight. Our digital services exports have rapidly grown, but our global market share remains below three per cent. That is well behind the United Kingdom, France and the Netherlands. Ottawa needs to reframe Canada's trade discussion for the digital and AI era. Digital trade is growing quickly, faces different restrictions than physical trade and relies less on geography, and is aligned with Canada's relative strengths. Canada should adopt a clear national goal: double its share of global digital services exports by 2030 and ensure that at least half go to markets beyond North America. This target would focus national attention and provide a benchmark for progress in a fast-growing part of the global economy. It would also help identify and address the barriers that digital exporters face. Canada already offers support through trade commissioners and export financing, but these efforts are rarely co-ordinated around a shared objective. Moreover, those responsible for AI and digital innovation do not co-ordinate with those responsible for trade. A clear target would connect these discussions. Canadian firms in traditional sectors such as manufacturing, agri-food and mining could also benefit from embedding more digital services into their exports. But the data on digital services inputs shows that most are not adopting these inputs in significant ways. Strengthening digital services trade would support these sectors by making their offerings more competitive and more resilient amid the trade crisis. Policymakers should treat digital trade as core to the country's economic strategy. Canada has the tools it needs to capitalize on the new trade possibilities that have already emerged. Jack Mintz: Governments may overproduce, but not the private sector Opinion: Our long-running trade soap opera with the Americans An increased focus on digital trade also helps derisk Canada's overall trade portfolio. It expands both the types of trade and markets for that trade, making Canada's economy more resilient in the face of tariff whiplash under Trump 2.0. Kati Suominen is the founder and chief executive of Nextrade Group, and Danielle Goldfarb is a distinguished fellow at the Asia Pacific Foundation of Canada. Sign in to access your portfolio
Times of Oman
19-07-2025
- Business
- Times of Oman
Mobile service subscriptions in Oman exceed 8 million
Muscat: The latest statistics issued by the National Centre for Statistics and Information (NCSI) show significant growth in Oman's telecommunications sector, driven by the expansion of digital services and increased reliance on smart solutions. Statistics indicated that active postpaid mobile phone subscriptions increased by 5.6 percent, reaching 1,239,509 subscriptions by the end of May 2025, compared to the same period in 2024. Active prepaid mobile phone subscriptions also recorded a growth of 3.1 percent, reaching 5,335,847 subscriptions, while Internet of Things (IoT) subscriptions achieved exceptional growth of 118.7 percent, reaching 1,554,999 subscriptions by the end of May 2025. Statistics show that the total number of mobile service subscriptions in the Sultanate of Oman reached 8,130,355 by the end of May 2025, registering a 15.2 percent increase compared to the end of May 2024. Meanwhile, the total number of active mobile broadband internet subscriptions reached 5,414,124 by the end of May 2025. Statistics show that the number of active subscriptions to fixed broadband internet services increased by 2.6 percent to reach 588,015 subscriptions by the end of May 2025, compared to the same period in 2024. Regarding fiber optic services, they witnessed an 11.4 percent increase, reaching 339,279 subscriptions. Fixed 5G subscriptions also increased by 2.1 percent, reaching 215,850 subscriptions by the end of May 2025, while fixed 4G subscriptions declined by 38.1 percent, recording 19,654 subscriptions. Digital subscriber line subscriptions also decreased by 50.8 percent to 11,806, and satellite subscriptions decreased by 2.1 percent to 653. Other subscriptions—which include internet via power lines, Ethernet, and leased internet lines—also declined by 12 percent, reaching 773 subscriptions by the end of May 2025, compared to the same period last year.
