Latest news with #IN
Kuwait Times
3 days ago
- Business
- Kuwait Times
Zain accelerates national talent empowerment in digital economy
Company concludes successful partnership in TechEdge Program with KFAS and NBK KUWAIT: Zain announced the successful conclusion of its participation in the TechEdge program, one of the leading training initiatives focused on digitally empowering young talent. The program was held under the umbrella of Zain's Innovation Nation (IN) initiative, in strategic collaboration with the Kuwait Foundation for the Advancement of Sciences (KFAS), the National Bank of Kuwait (NBK), and the National University of Singapore (NUS). The program spanned several phases, starting locally in Kuwait, followed by virtual masterclasses, and culminating in a global learning experience hosted by NUS in Singapore. The initiative aimed to equip early-career Kuwaiti professionals with advanced technology skills through intensive workshops on artificial intelligence, data science, cybersecurity, cloud computing, software development, entrepreneurial thinking, and more. Zain expressed its pride in the outstanding performance of its employees, Nada Ibrahim and Othman Al-Shammari, who demonstrated remarkable dedication and passion throughout the program. Both actively participated in real-world innovation challenges that bridged theory with practice. In recognition of their inspiring performance, they were honored by Zain Kuwait CEO Nawaf Al-Gharabally, CTO Daaij Al-Oud, and Chief Purpose & HR Officer Nawal Bourisli. Al-Gharabally honors Othman Al-Shammari in the presence of Bourisli and Al-Oud. Ibrahim and Al-Shammari with fellow TechEdge participants in Singapore. Commenting on the achievement, Nawal Bourisli said: 'At Zain, we believe in the power of Kuwaiti youth to lead the future of the digital economy. Our support of the TechEdge program aligns with our strategy of investing in national talent through our broader Innovation Nation initiative, which reflects our long-term vision of equipping the next generation with the skills that are becoming the foundation of tomorrow's job market.' She added: 'We take great pride in the success of this program and in the exceptional global experience it offered the participants in partnership with a prestigious academic institution like NUS. These types of initiatives embody our deep commitment to accelerating digital transformation, transferring private sector expertise, and fostering a culture of innovation in the workplace.' This program represents a strategic collaboration between the three institutions and falls within national efforts to contribute to the realization of the New Kuwait 2035 Vision, which aims to diversify the economy and drive innovation through increased reliance on digitalization. The objectives of TechEdge align with Zain's strategic vision to empower talent, accelerate digital literacy, and cultivate a workplace environment built on innovation and sustainable growth. These goals are embodied in the Innovation Nation initiative, which has resulted in numerous successful projects over the past years and continues to cement Zain's leadership in driving Kuwait's innovation and digital transformation.
GSM Arena
26-05-2025
- GSM Arena
iQOO Neo 10 launched in India
iQOO has launched the Neo 10 model in India, as was announced earlier this month. The phone comes in four size capacities, with prices starting at INR 31,999 for the base variant. The iQOO Neo 10 has a 6.78-inch, 1260p 144Hz AMOLED display. It is powered by a Qualcomm Snapdragon 8s Gen 4 chipset with a choice of 8GB, 12GB, and 16GB memory. The phone also offers 128GB, 256GB, and 512GB storage options. On the back is a 50MP main camera and an 8MP ultra-wide camera while a 32MP unit graces the front. The battery is a massive 7000mAh with 120W fast charging. The iQOO Neo 10 will be available in four variants with additional bank discounts available on Amazon and iQOO online store. The phone will be available for pre-order starting today and will be on sale starting June 2 at 12:00PM IST.
NDTV
20-05-2025
- Entertainment
- NDTV
MrBeast Responds To Backlash Over Ancient Mexican Temple Video: "It Saddens Me To See..."
Jimmy Donaldson, better known as MrBeast, has reacted to the controversy surrounding a vlog he recorded while visiting ancient Mayan cities in Southeastern Mexico. The YouTuber released a video titled "I Survived 100 Hours in an Ancient Temple," on May 10, and it received millions of views in no time. In the clip, MrBeast and his team explore historic sites, swim in cenotes, eat Maya-style food and spend a night in a temple. The video drew condemnation from Mexican officials, archaeologists and the public, who accused the YouTuber of exploiting the cultural heritage. The video was also criticised by Mexico's National Institute of Anthropology and History (INAH), which said that they had given MrBeast permission to film at the sites, but not to monetise the content or use it to advertise his products. Now, over the weekend, MrBeast released a statement, announcing his true intention of bringing eyes to the country and revealing that there was no issue with filming as he got permission from the government agencies and even had archaeologists walking them through everything. He also shared a picture showing a message from the state governor where filming took place that defended MrBeast and his team. I've seen a lot of stories about our recent video in Mexico and wanted to clear some false things being said. Me and my team have great respect for the Mexican and Mayan culture and people. We did this video to get people all over the world excited to learn more about their… — MrBeast (@MrBeast) May 18, 2025 "I've seen a lot of stories about our recent video in Mexico and wanted to clear some false things being said. Me and my team have great respect for the Mexican and Mayan culture and people. We did this video to get people all over the world excited to learn more about their culture, much like we did with our Pyramids video. We are not and have never been sued by them lol. That is false and it saddens me to see people spreading lies," MrBeast wrote on X. "We filmed with full permits, followed guidelines, had representatives from government agencies following us, Mexican archeologists to make sure we were accurate, AND representatives from the sites to ensure we were following the rules. The governor of the state we shot in even came out in our defense," he added. The YouTuber further clarified that officials knew he would be promoting his chocolate brand and made sure not to film any content near national monuments. "They were aware of us mentioning Feastables in the video but for respect of the sites, it was filmed off site from any national monuments. The dinner scene where I made the Feastables joke was not near any mayan temples," he wrote. The YouTuber also shared the philanthropic work that his team conducted while out in Mexico. "We also never planned on sharing this, but as always my hand is forced by false headlines - behind the scenes we funded wells and water projects in the state, I've also been working with INAH on a fund to support local Mexican archeology and new discoveries because I wanted to help spread the culture as a thanks for allowing us to film," MrBeast said. "I hope to go back someday and continue to share how awesome the culture is with the world, sad to see this get distorted," he concluded. Notably, MrBeast's statement comes after the Ministry of Culture in Mexico said it would impose sanctions and take legal action against the YouTuber for allegedly misrepresenting events and violating the intended use of cultural heritage sites. The INAH responded to the controversy by stating that the visit and the recording were conducted in response to "formal requests". The government agency stated that their staff was present during the shoot to guarantee site safety and adherence to preservation guidelines. It also confirmed that the filming was done in accordance with the law. But it emphasised that several scenes, including the claimed helicopter landing, drone flights inside the Kukulkan pyramid, and the usage of an old mask, were made up in post-production. Separately, Mexican President Claudia Sheinbaum said the "broadcast" was permitted, but she asked the INAH to report "under what conditions this permit was granted."
Yahoo
13-05-2025
- Business
- Yahoo
Optiva Inc. Reports First Quarter 2025 Financial Results
All amounts are stated in United States dollars unless otherwise indicated Revenue of $11.6 million Total Contract Value ('TCV')(1) bookings of $6.3 million Gross margin of 64% Adjusted EBITDA(1) of $0.5 million EPS loss of $ 0.38 $8.0 million of cash TORONTO, May 13, 2025 (GLOBE NEWSWIRE) -- Optiva Inc. ('Optiva' or 'the Company') (TSX:OPT), a leader in powering the telecom industry with cloud-native billing, charging and revenue management software on private and public clouds, today released its first quarter financial results for the three-month period ended March 31, 2025. During the first quarter, Optiva was selected by three existing customers for upgrades, renewals and partnership expansions. A customer broadened its current partnership to incorporate Optiva's latest advanced Application Server and leverage Optiva's Open API framework. Additionally, a customer upgraded to a next-generation, full-stack BSS platform, and another selected Optiva for an Intelligent Network (IN) platform upgrade to be deployed with cloud infrastructure and a 5-year support renewal. Optiva has announced the integration of agentic AI, utilizing advanced generative AI (GenAI) technology powered by Google's Gemini models, into its BSS and charging solutions. At MWC in Barcelona, Spain, the Company unveiled its AI agents, Amica, Kairos and Sophos, which empower telecom operators with operational efficiency, cost savings and enhanced customer experience. Optiva agentic AI platform is currently being used in digital BSS transformations by customers in the Middle East and the Americas. It has been well received by customers, prospects and industry analysts and recognized with two industry awards: as a finalist for the TM Forum Excellence Awards in the category of Data & AI Innovation, to be announced in June, and winner of the 2025 MVNOs World Awards for AI & Analytics Excellence. Optiva's outstanding 9.75% Senior Secured PIK Toggle Notes, of which an aggregate principal amount of US$108 million is currently outstanding (the "Secured Notes"), are maturing on July 20, 2025. The Company's Special Committee is actively engaged with strategic third parties, including key holders of the Secured Notes, for purposes of evaluating strategic alternatives to optimize outcomes for the business, our people, and our customers. While Optiva expects that it will conclude the strategic process prior to the maturity of the Secured Notes, Optiva's largest noteholders, representing over 75% of the face value of Secured Notes, have committed to remaining supportive if a strategic transaction has not closed by July 20, 2025. Optiva does not foresee any business disruptions as a result of these discussions, as all stakeholders are committed to seeing the continued support of all of Optiva's new and existing customers. No agreement providing for any strategic transaction has been reached, and there can be no assurances that any transaction will result from Optiva's process for evaluating strategic alternatives. If Optiva's process for evaluating strategic alternatives results in an agreement regarding a transaction, there can be no assurances that any transaction will be completed or that there will be material consideration given to, or retained by, Optiva's shareholders. Optiva does not undertake any obligation to provide any update with respect to any strategic transaction or any other financial transaction, except as required under applicable laws. For more information about Optiva, please visit: Business Highlights TCV of Q1 bookings totaled $6.3 million. For the trailing twelve months, TCV of bookings totaled $50.9 million. BT Group, the UK's leading mobile and fixed telecommunications provider, broadened and strengthened its partnership with Optiva to implement innovative B2B and B2B2X BT network communication services using Optiva's latest state-of-the-art Application Server. Central to the initiative is Optiva Charging Engine, a cloud-native, open-architecture service creation platform that features Optiva's Open API framework. The advancement will enhance BT Group's ability to grow cutting-edge services and create new revenue opportunities. Cellular One selected Optiva to upgrade to a next-generation, full-stack BSS platform to better serve customers and capitalize on Cellular One's network upgrade to 4G LTE. Cellular One is a leading provider of mobile technology and wireless communications services for underserved tribal lands and rural communities in the American Southwest. Optiva has been a trusted partner to Cellular One for 12 years, leveraging technology innovations to drive business growth. Optiva's cloud-native BSS platform will be deployed on Cellular One's private cloud, guaranteeing faster time to market, monetization and operational flexibility. It will enable Cellular One to quickly expand its revenue streams and accelerate the launch of new business use cases. A Tier 1 telecom vendor in the APAC region has selected Optiva to provide a solution for its customer's Intelligent Network (IN) platform. The project marks a significant step forward in modernizing its mission-critical communications infrastructure. The upgrade transitions an existing platform to Optiva's latest cloud-native release, deployed on the private cloud infrastructure. Optiva will also provide a 5-year support renewal, ensuring long-term reliability and performance. The new solution delivers enhanced speed, scalability and resilience through its in-memory database architecture, which is fully compliant with industry standards, includes a refreshed original equipment manufacturer (OEM) stack and introduces new features tailored to support future needs and innovation plans. The Company announced that its Optiva BSS Platform and Optiva Charging Engine now seamlessly incorporate agentic AI using advanced generative AI (GenAI) technology powered by Google's Gemini models, enabling real-time insights using BigQuery and Looker. Optiva was named a finalist, together with customer Omantel, for Excellence in Data & AI Innovation by the TM Forum Excellence Awards. The nomination is for achieving significant business impact through innovative AI and data capabilities applications in implementing agentic AI, large language models (LLMs) and small language models (SLMs) for intelligent telco operations and business growth. On May 13, 2025, subsequent to the quarter end, Optiva was named winner for AI & Analytics Excellence by the MVNOs World Awards. The award recognizes solution providers leveraging AI and analytics to enhance MVNO decision-making, streamline operations and create smarter customer insights. First Quarter 2025 Financial Results Highlights: Q1 Fiscal 2025 Highlights Three Months Ended ($ US Millions, except per share information) March 31, (Unaudited) 2025 2024 Revenue 11.6 11.7 Net Income (Loss) (2.3 ) (6.0 ) Earnings (Loss) Per Share ($0.38 ) ($0.98 ) Adjusted EBITDA(1) 0.5 (2.3 ) Cash from (used in) operating activities (3.1 ) (3.4 ) Total cash, including restricted cash 8.0 12.0 Revenue for Q1'25 was $11.6 million. On a year-over-year basis, the change by revenue type included a $0.2 million increase in support and subscription revenue, $0.2 million decrease in software and services revenue and $0.1 million decrease in third party software and hardware revenue. The increase in support and subscription in the period mainly relates to the support revenue from new customers. The year-over-year decrease in software and services revenue reflects fewer software implementations in the period. Gross margin for Q1'25 was 64% compared to 58% during the same period in 2023. The increase in gross margin is primarily attributable to higher revenue from high margin support and subscription revenue and low amount of customizations with lower margins ordered by customers that required fulfillment, compared to the previous period. We expect our gross margins may fluctuate as our cloud-native model and product capabilities are adopted by new and existing customers in the public or private cloud in future periods. Adjusted Earnings before interest, taxes, depreciation and amortization ("EBITDA")1 for Q1 was a gain of $0.5 million as compared to loss of $2.3 million during the same period in 2024. Net loss for Q1 was $2.3 million compared to a net loss of $6.0 million during the same period in 2024. The net loss for the three months ended March 31, 2025, was lower mainly due to the lower operations expenses incurred during the period compared to last year. The company's lower operating expenses reflect ongoing efforts to optimize resources in support of our product roadmap, customer service, expanding our customer base, and administrative needs. The Company ended the first quarter with a cash balance of $8.0 million (including restricted cash). (1) EBITDA, Adjusted EBITDA, TCV and adjusted EPS are non-IFRS measures. These measures are defined in the "Non-IFRS Financial Measures" section of this news release. Non-IFRS Measures 'EBITDA" and "Adjusted EBITDA" are not financial measures calculated and presented in accordance with International Financial Reporting Standards (IFRS) and should not be considered in isolation or as a substitute to net income (loss), operating income or any other financial measures of performance calculated and presented in accordance with IFRS, or as an alternative to cash flow from operating activities as a measure of liquidity. The Company defines EBITDA as net income (loss) excluding amounts for depreciation and amortization, other income, finance costs, finance income, income tax expense (recovery), foreign exchange gain (loss) and share-based compensation. The Company defines "Adjusted EBITDA" as EBITDA (as defined above), excluding restructuring costs, one-time provision amounts and other one-time unusual items. The Company believes that Adjusted EBITDA is a metric that investors may find useful in understanding the Company's financial position. The following table provides a reconciliation of Net Income to EBITDA and Adjusted EBITDA (in thousands of U.S. dollars). Three months ended March 31, 2025 2024 Net loss for the period $ (2,339 ) $ (6,032 ) Add back / (subtract): Depreciation of computer equipment 113 179 Finance income (88 ) (193 ) Finance costs 2,906 2,829 Income tax expense (recovery) 201 239 Foreign exchange loss (gain) (85 ) 162 Share-based compensation (249 ) 507 EBITDA and Adjusted EBITDA $ 459 $ (2,309 ) TCV is the Total Contract Value of all bookings closed in the period. About Optiva Optiva Inc. is a leader in powering the telecom industry with cloud-native billing, charging and revenue management software on private and public clouds. Its products are delivered globally on the private and public cloud. The Company's solutions help service providers maximize digital, 5G, IoT and emerging market opportunities to achieve business success. Established in 1999, Optiva Inc. is listed on the Toronto Stock Exchange (TSX: OPT). For more information, visit Caution Concerning Forward-Looking Statement Certain statements in this document may constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use such words as "may," "will," "expect," "continue," "believe," "plan," "intend," "would," "could," "should," "anticipate" and other similar terminology. Forward-looking statements in this document include statements regarding the Company's "qualified pipeline", the TCV of the qualified pipeline and the Company's expectations regarding future revenues. We draw your attention to the "Risks and Uncertainties" section of the Company's management's discussion and analysis for the quarter ended March 31,2025, and to note 1 of our consolidated financial statements which indicate the existence of material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. The Company had a working capital deficit (current assets less current liabilities) of $98.6 million as at March 31, 2025 (December 31, 2024 – working capital deficit of $94.8 million), reflecting inclusion of the 9.75% secured PIK toggle debentures due July 20, 2025 (the 'Debentures') as a current liability. The Debentures in the amount of $108.6 million as of March 31, 2025, have a maturity date of July 20, 2025. Based on the cash balance as of March 31, 2025 and the forecasted cash flows from operations to the Debentures maturity date on July 20, 2025, the Company expects to have insufficient cash to meet its obligations upon maturity of the Debentures in July 2025. The Company's board of directors has formed a Special Committee which is actively engaged with strategic third parties, including key holders of the Secured Notes, for purposes of evaluating strategic alternatives to optimize outcomes for the business, our people, and our customers. The Company's ability to continue its operations is dependent upon its ability to refinance this debt or implement other financial alternatives, including other sources of financing through debt or equity, however there is no assurance that this will be successful. These factors indicate the existence of a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. These statements are forward-looking as they are based on our current expectations, as at May 13, 2025, about our business and the markets we operate in and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations include the risk that the Company will not secure contracts with customers that are included in its qualified pipeline, the risk that existing customers may decrease their spend with the Company and other risks that are discussed in the Company's most recent Annual Information Form, available on SEDAR at and Optiva's website at Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Optiva does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. For additional information, please contact: Media Contact: Misann Ellmakermedia@ Investor Relations: investors-relations@ OPTIVA Inc. Condensed Consolidated Interim Statements of Financial Position (Expressed in thousands of U.S. dollars) (Unaudited) March 31, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 6,547 $ 10,217 Trade accounts and other receivables 6,358 7,229 Unbilled revenue 10,090 9,292 Prepaid expenses 1,916 1,994 Income taxes receivable 332 346 Other assets 1,050 1,034 Total current assets 26,293 30,112 Restricted cash 1,476 843 Computer Equipment 459 571 Deferred income taxes 453 475 Other assets 2,651 2,712 Long-term unbilled revenue 309 384 Pension and other long-term employment benefit plans 3,386 2,773 Goodwill 32,271 32,271 Total assets $ 67,298 $ 70,141 Liabilities and Shareholders' Equity (Deficit) Current liabilities: Trade payables $ 1,686 $ 1,940 Accrued liabilities 10,607 14,229 Income taxes payable 1,620 3,367 Deferred revenue 2,918 2,688 Debentures 108,126 102,701 Total current liabilities 124,957 124,925 Deferred revenue 70 64 Other liabilities 1,359 1,768 Deferred income taxes 81 126 Total liabilities 126,467 126,883 Shareholders' equity (deficit): Share capital 270,746 270,746 Contributed surplus 15,221 15,309 Deficit (350,901 ) (348,562 ) Accumulated other comprehensive income 5,765 5,765 Total shareholders' equity (deficit) (59,169 ) (56,742 ) Total liabilities and shareholders' equity (deficit) $ 67,298 $ 70,141 OPTIVA Inc. Condensed Consolidated Interim Statements of Comprehensive Income (loss) (Expressed in thousands of U.S. dollars, except per share and share amounts) (Unaudited) Three months ended, March 31, 2025 2024 Revenue: Support and subscription $ 7,500 $ 7,330 Software licenses, services and other 4,092 4,374 11,592 11,704 Cost of revenue 4,127 4,888 Gross profit 7,465 6,816 Operating expenses: Sales and marketing 1,924 2,756 General and administrative 1,675 3,017 Research and development 3,271 4,038 6,870 9,811 Income (loss) from operations 595 (2,995 ) Foreign exchange gain (loss) 85 (162 ) Finance income 88 193 Finance costs (2,906 ) (2,829 ) Loss before income taxes (2,138 ) (5,793 ) Income tax expense (recovery): Current 226 294 Deferred (25 ) (55 ) 201 239 Total net loss and comprehensive loss $ (2,339 ) $ (6,032 ) Net loss per common share Basic $ (0.38 ) $ (0.98 ) Diluted (0.38 ) (0.98 ) Weighted average number of common shares (thousands): Basic 6,213 6,180 Diluted 6,213 6,180 OPTIVA Inc. Condensed Consolidated Interim Statements of Cash Flows (Expressed in thousands of U.S. dollars) (Unaudited) Three month ended March 31, 2025 2024 Cash provided by (used in): Operating activities: Net loss for the year $ (2,339 ) $ (6,032 ) Adjustments for: Depreciation of property and equipment 113 179 Finance income (88 ) (193 ) Finance costs 2,906 2,829 Pensions (447 ) (87 ) Income tax expense 201 239 Unrealized foreign exchange (gain) / loss (165 ) (314 ) Share-based compensation (249 ) 507 Change in non-cash operating working capital (974 ) (300 ) (1,042 ) (3,172 ) Interest paid - - Interest received 88 172 Income taxes received (paid) (2,115 ) (436 ) (3,069 ) (3,436 ) Financing activities: Payment of interest on debentures - (5,086 ) - (5,086 ) Investing activities: Purchase of property and equipment - (200 ) Decrease (increase) in restricted cash (632 ) 9 (632 ) (191 ) Effect of foreign exchange rate changes on cash and cash equivalents 31 314 Decrease in cash and cash equivalents (3,670 ) (8,399 ) Cash and cash equivalents, beginning of period 10,217 19,642 Cash and cash equivalents, end of period $ 6,547 $ 11,243
