Latest news with #FibreinGulf
Iraqi News
17-03-2025
- Business
- Iraqi News
Iraq boosts global data access with Fibre in Gulf subsea cable
Baghdad ( – Iraq has solidified its position as a crucial transit gateway for international data traffic between Asia and Europe, following a strategic agreement between Ooredoo Group and the Iraqi Telecommunications and Post Company (ITPC). The Landing Party Agreement will enable the installation of the Fibre in Gulf (FIG) subsea cable in Iraq, significantly enhancing the nation's digital infrastructure. The FIG subsea cable is set to provide a high-capacity, low-latency connection that caters to the growing demands of enterprises, hyperscalers, data centers, and telecom operators. The FIG cable is anticipated to be finished by 2027. In order to provide low-latency services for hyperscalers, enterprises, data centers, and telecom operators, a 2,000-kilometer cable with 24 pairs of optical fiber is planned to link Iraq with Qatar, Oman, the United Arab Emirates, Bahrain, Saudi Arabia, and Kuwait. As Iraq continues to strengthen its digital capabilities, this initiative marks a major milestone in its efforts to become a regional data hub. 'This agreement is another step forward in the rollout of FIG, advancing Iraq's digital infrastructure and enhancing its role in global data connectivity,' said Sheikh Nasser Bin Hamad Bin Nasser Al Thani, Group Regional CEO – Middle East, Ooredoo. 'The initiative will be crucial in speeding up economic diversification and digital transformation, opening up new doors for Iraq's varied industries and enterprises.' Echoing this sentiment, Hayam Al Yasiri, the Iraqi Minister of Communications, emphasized the national importance of the partnership. 'Iraq's strategic location makes it an ideal hub for regional and international data traffic, and the landing of the FIG cable system marks a major step toward realizing a more connected future.' 'This initiative strengthens Iraq's role as a key transit point for global data while accelerating advancements in hyperscaler expansions, AI, Cloud, and IoT,' added Al Yasiri. With the deployment of the FIG subsea cable, Iraq is poised to play a transformative role in global digital connectivity, reinforcing its status as a vital link between Asia and Europe while paving the way for technological growth and economic development.
Zawya
17-03-2025
- Business
- Zawya
Ooredoo Group, ITPC partner to land FIG subsea cable in Iraq
Ooredoo Group and Iraqi Telecommunications and Post Company have signed a Landing Party Agreement to land the Fibre in Gulf subsea cable in Iraq, establishing the country as a vital transit hub for global data traffic between Asia and Europe. Ooredoo Group and Iraqi Telecommunications and Post Company (ITPC) have signed a Landing Party Agreement to land the Fibre in Gulf (FIG) subsea cable in Iraq, establishing the country as a vital transit hub for global data traffic between Asia and Europe. As Iraq continues to strengthen its digital infrastructure, FIG will deliver highcapacity, low-latency connectivity to support the growing demands of businesses, hyperscalers, data centres, and telecom operators. The project will play a key role in accelerating digital transformation and economic diversification, creating new opportunities for Iraq's diverse businesses and industries. Sheikh Nasser bin Hamad bin Nasser al-Thani, Group Regional CEO – Middle East, Ooredoo, said: 'This agreement is another step forward in the rollout of FIG, advancing Iraq's digital infrastructure and enhancing its role in global data connectivity. 'As demand for high-speed, reliable connectivity grows, Iraq is well positioned to serve as a strategic hub, supporting innovation, investment, and long-term economic growth. We are heavily investing in next-generation connectivity and this will create a wide range of new opportunities for businesses and consumers while strengthening the region's position in the global digital economy.' The FIG subsea cable is the largest ever built in the GCC, connecting all Gulf countries and beyond in a single, high-capacity loop. With an unprecedented 720Tbps of capacity across 24 fibre pairs, it surpasses the combined capacity of all existing and planned Gulf cables. Dr. Hayam al-Yasiri, Iraqi Minister of Communications, emphasised the national importance of the partnership, stating: 'This agreement marks a significant milestone. Iraq's strategic location makes it an ideal hub for regional and international data traffic, and the landing of the FIG cable system marks a major step toward realising a more connected future. This initiative strengthens Iraq's role as a key transit point for global data while accelerating advancements in hyperscaler expansions, AI, Cloud, and IoT. 'We are proud to partner with Ooredoo Group to bring the FIG subsea cable to Iraq, providing government institutions, businesses, and individuals with unprecedented connectivity. This will drive new opportunities for growth, innovation, and global integration, reflecting our commitment to continuously enhancing the country's digital infrastructure.' With service expected to be ready in Q4, 2027, FIG will be instrumental in driving advancements in AI, Cloud, and IoT. Najib Khan, Group Chief Business Services Officer, Ooredoo, concluded: 'FIG represents a new era for digital infrastructure in the region and Iraq is at the heart of this transformation. 'By delivering cutting-edge subsea capacity, we are ensuring that our customers benefit from the highest levels of network reliability, efficiency, and performance, supporting Iraq's digital ambitions and economic progress.' © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Doha
Zawya
17-03-2025
- Business
- Zawya
Ooredoo Group and ITPC partner to land FIG subsea cable in Iraq, advancing regional and global connectivity
Doha, Qatar/Baghdad, Iraq – Ooredoo Group and Iraqi Telecommunications and Post Company (ITPC) have signed a Landing Party Agreement to land the Fibre in Gulf (FIG) subsea cable in Iraq, establishing the country as a vital transit hub for global data traffic between Asia and Europe. As Iraq continues to strengthen its digital infrastructure, FIG will deliver high-capacity, low-latency connectivity to support the growing demands of businesses, hyperscalers, data centres, and telecom operators. The project will play a key role in accelerating digital transformation and economic diversification, creating new opportunities for Iraq's diverse businesses and industries. Sheikh Nasser Bin Hamad Bin Nasser Al Thani, Group Regional CEO - Middle East, Ooredoo, said: 'This agreement is another step forward in the rollout of FIG, advancing Iraq's digital infrastructure and enhancing its role in global data connectivity. As demand for high-speed, reliable connectivity grows, Iraq is well-positioned to serve as a strategic hub, supporting innovation, investment, and long-term economic growth. We are heavily investing in next-generation connectivity and this will create a wide range of new opportunities for businesses and consumers while strengthening the region's position in the global digital economy.' The FIG subsea cable is the largest ever built in the GCC, connecting all Gulf countries and beyond in a single, high-capacity loop. With an unprecedented 720Tbps of capacity across 24 fibre pairs, it surpasses the combined capacity of all existing and planned Gulf cables. H.E. Dr. Hayam Al Yasiri, the Iraqi Minister of Communications, emphasised the national importance of the partnership, stating: 'This agreement marks a significant milestone. Iraq's strategic location makes it an ideal hub for regional and international data traffic, and the landing of the FIG cable system marks a major step toward realizing a more connected future. This initiative strengthens Iraq's role as a key transit point for global data while accelerating advancements in hyperscaler expansions, AI, Cloud, and IoT. We are proud to partner with Ooredoo Group to bring the FIG subsea cable to Iraq, providing government institutions, businesses, and individuals with unprecedented connectivity. This will drive new opportunities for growth, innovation, and global integration, reflecting our commitment to continuously enhancing the country's digital infrastructure.' With service expected to be ready in Q4 2027, FIG will be instrumental in driving advancements in AI, Cloud, and IoT. Najib Khan, Group Chief Business Services Officer, Ooredoo, concluded: 'FIG represents a new era for digital infrastructure in the region and Iraq is at the heart of this transformation. By delivering cutting-edge subsea capacity, we are ensuring that our customers benefit from the highest levels of network reliability, efficiency, and performance, supporting Iraq's digital ambitions and economic progress.' About Ooredoo Ooredoo is an international communications company operating across the Middle East, North Africa, and Southeast Asia. Serving consumers and businesses in nine countries, Ooredoo delivers leading data experience through a broad range of content and services via its advanced, data-centric mobile and fixed networks. Ooredoo generated revenues of QAR 23 billion as of 31 December 2024. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.
Zawya
12-03-2025
- Business
- Zawya
Ooredoo holds Annual General Meeting
Doha, Qatar: Ooredoo held its Annual General Meeting today, where Shareholders discussed and approved the Company's Corporate Governance Report and financial statements, following confirmation of full year results for 2024. During the Meeting, shareholders approved the recommendation of the Board of Directors to distribute a cash dividend of QAR 0.65 per share. In his address to the meeting, H.E. Sheikh Faisal Bin Thani Al Thani, Chairman of Ooredoo, highlighted the significant strides the company has marked towards its evolution into a leading digital infrastructure provider through strategic investments and the expansion of our global connectivity footprint: '2024 was another solid year for Ooredoo Group, seeing substantial growth across all key financial metrics and delivering value to our stakeholders as we continue to diligently execute our strategy. The Group made robust operational progress, and our strong results demonstrate that our strategy is working in delivering strong shareholder returns.' 'For the third year in a row, we report strong growth in all key financial metrics, closing 2024 with record-high earnings that surpassed USD 1 billion in Normalised Net Profit for the first time, while maintaining healthy cash reserves and liquidity levels,' he added. As a result of strategic investments and effective market positioning, Revenue increased by 2% year-on-year to QAR 23.6 billion in 2024, driven by strong performance in Iraq, Algeria, Kuwait, Tunisia and the Maldives. This was partially offset by a decline in Revenue form Qatar and Oman. Ooredoo's focus on profitability led to an EBITDA of QAR 10 billion, up by 3% year-on-year. EBITDA margin expanded by 1pp to 42.5% thanks to healthy service revenue growth and disciplined approach to cost control. Group Net Profit attributable to Ooredoo shareholders increased by 14% year-on-year to QAR 3.4 billion in 2024. Normalised Net Profit grew by 12% YoY to reach QAR 3.7 billion. The delivery of these strong Net Profit figures is a testament to the Group's ongoing focus on profitability and efficient operational management. The best-in-class network and unmatched customer experience is attracting more customers to the network, ending 2024 with a total of 51.5 million customers, reflecting a 5% increase YoY (excluding Ooredoo Myanmar). Including IOH, the customer base reached a total of 146.2 million. Highlights of the period include the establishment of MENA Digital Hub, Ooredoo's new carrier-neutral data centre company. Ooredoo also collaborated with NVIDIA, becoming their Cloud Partner in the region. Ooredoo acquired, through Alcatel Submarine Networks, the 'Fibre in Gulf' project - the largest subsea cable ever built in the GCC - connecting all GCC countries and beyond. Ooredoo Fintech continues to expand beyond its market leadership in Qatar and the Maldives, launching walletii in Oman. During the Company's AGM, the following items were discussed and approved: Hearing and approving the Board's report for the year ended 31st December 2023 and discussing the Company's future business plans. Discussing the Corporate Governance Report for the year 2024. Hearing the External Auditor's report for the year ended 31st December 2024. Discussing and approving the Company's financial statements for the year ended 31st December 2024. Discussing and approving the Compliance report of the QFMA Corporate Governance & Internal Control over Financials Reporting report for the year ended 31st December 2024. Discussing and approving the Board of Directors' recommendations regarding the distribution of dividends for the year 2024. Discharging the Members of the Board from liabilities and determining their remuneration for the year ended 31st December 2024. Appointing the External Auditor for the year 2025 and determining its fee. About Ooredoo Ooredoo is an international communications company operating across the Middle East, North Africa, and Southeast Asia. Serving consumers and businesses in nine countries, Ooredoo delivers leading data experience through a broad range of content and services via its advanced, data-centric mobile and fixed networks. Ooredoo generated revenues of QAR 23 billion as of 31 December 2024. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.
Broadcast Pro
31-01-2025
- Business
- Broadcast Pro
Ooredoo to build submarine cable linking seven GCC countries
Fibre in Gulf (FIG) submarine cable is a strategic initiative to significantly enhance regional connectivity. Ooredoo Group has signed an agreement to build a new submarine cable connecting seven countries in the region Qatar, Oman, the UAE, Bahrain, Saudi Arabia, Kuwait and Iraq with Alcatel Submarine Networks (ASN), a French company in the manufacture and installation of submarine cables. The Fibre in Gulf (FIG) project will provide all GCC countries with a low latency, shorter and more secure route to a new corridor connecting Europe with up to 24 fibre pairs and a capacity of up to 720Tbps. This advanced infrastructure will deliver connectivity benefits to hyperscalers, business customers, governments, AI providers, data centres and telecom operators, by enhancing network reliability and security, as well as significantly enhancing connection speeds. The regions digital industry is set to receive a significant boost from Ooredoos investment, which will support the growth of cloud services, big data initiatives and the acceleration of digital transformation across the region. Aziz Aluthman Fakhroo, Group CEO of Ooredoo, said: 'This historic project aligns with Ooredoos ambitious strategy to lead in digital infrastructure by expanding network capacity and interconnectivity across the GCC and beyond. We will deliver cutting-edge technologies to the region while ensuring sustainable growth for our investors through long-term revenue from rising data demand and market leadership in digital infrastructure. This initiative positions Ooredoo as a key player in addressing the rapidly growing data demand between Asia and Europe.' Alain Biston, CEO of ASN, added: 'We are honoured to partner with Ooredoo on the Fibre in Gulf (FIG) submarine cable project, a game-changing initiative that will mark a turning point in regional connectivity across the GCC. Leveraging ASN's cutting-edge technologies and operational excellence, this state-of-the-art infrastructure will reliably deliver exceptional capacity and connectivity, empowering the regions digital transformation ambitions and establishing it as a pivotal hub for global data exchange.' Ooredoo Oman, an Ooredoo Group company, last year signed an agreement to land the 2Africa Cable System in Barka and Salalah in Oman. Najib Khan, Group Chief Business Services Officer, Ooredoo, commented: 'We are excited to launch this strategic project, which features state-of-the-art technologies deployed for the first time in the region. This will provide substantial benefits to hyperscalers, business customers, governments and AI application providers. It reflects our commitment to becoming the leading digital infrastructure provider in the region, delivering innovative business services and driving regional growth.'
