In early 2019, SEC’s subsidiary, Dawiyat Integrated Telecommunications and Information Technology, signed a memorandum with Nokia. It talks about introducing a 5G network in Saudi Arabia. The collaboration took place as part of the NTP 2020 and Saudi Vision 2030 development programs. The agreement confirms the agreement of companies to participate in the development of 10 million smart meters of telecommunication networks.
In 2019, another power transmission station was opened with investments of 220 million rials. The project has been implemented to support Saudi Arabia’s strategic goals of reducing oil dependence.
In the same year, another subsidiary of Dawiyat Telecom completed one of the stages of the deployment of fiber optic networks in Jeddah, Dammam, Sudair, and Harjah. The project was implemented as part of the National Industrial Development Program and aimed to promote digital infrastructure for the use of 5G and IoT.
Saudi Electricity Co reports for the second quarter of 2019 show that net profit fell by 57.28% and amounts to 789 million rials. In the second quarter of last year, profit amounted to 1.84 billion rials. The company attributes the decrease in profits, compared with the previous year, to the decline in sales and an increase in the cost of financing research projects.
From April to June 2019, SEC revenue fell 38.04% to 1.82 billion riyals, and in the first half of the year, the company estimated losses of 700 million riyals against a profit of 633 million riyals. Revenue decreased by 4.07% to 27.91 million riyals.
|Citigroup||Stock Citigroup - course and charts||6||56.35|
|Manchester United||Stock Manchester United - course and charts||10||13.76|
|Exxon Mobil||Stock Exxon Mobil - course and charts||6||83.3|
|NIKE||Stock NIKE - course and charts||6||132|
|Santander Group||Stock Santander Group - course and charts||8||3.29|
|Coca Cola||Stock Coca Cola - course and charts||6||60.89|
|JPMorgan Chase and CO||Stock JPMorgan Chase and CO - course and charts||6||140.6|
|MICROSOFT||Stock MICROSOFT - course and charts||6||304.03|
|Chevron||Stock Chevron - course and charts||6||166.15|
|Banque Saudi Fransi||Stock Banque Saudi Fransi - course and charts||25||53.63|
|Stock Facebook - course and charts||6||219.51|
|Riyad Bank||Stock Riyad Bank - course and charts||15||27.48|
|BOEING||Stock BOEING - course and charts||10||188.96|
|Saudi British Bank||Stock Saudi British Bank - course and charts||10||37.93|
|General electric||Stock General electric - course and charts||6||94.07|
|FERRARI||Stock FERRARI - course and charts||10||213.04|
|Riyad Bank||Stock Riyad Bank - course and charts||8||38.43|
|AMAZON||Stock AMAZON - course and charts||24||3271.67|
|Goldman Sachs Group||Stock Goldman Sachs Group - course and charts||6||336.1|
|Nike||Stock Nike - course and charts||15||2825.28|
|Saudi investment bank||Stock Saudi investment bank - course and charts||8||17.87|
|Nvidia||Stock Nvidia - course and charts||12||78.45|
|Tesla motors||Stock Tesla motors - course and charts||14||1013.75|
|Intel||Stock Intel - course and charts||10||51.56|
|WalMart||Stock WalMart - course and charts||6||142.75|