Saudi Arabia ranks 7th globally in internet speed, 5G: Communications minister

Abdullah Alswaha, Minister of Communications and Information Technology, says there should be more innovative digitalized investments. (Supplied)
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Updated 28 January 2021
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Saudi Arabia ranks 7th globally in internet speed, 5G: Communications minister

  • ‘We should have more innovative digitalized investments’

Saudi Arabia is ranked seventh globally in terms of 5G technology and internet speed, said Abdullah Alswaha, Minister of Communications and Information Technology, on the sidelines of the fourth edition of the Future Investment Initiative (FII).

“We should have more innovative digitalized investments, in the light of the challenges and the unclarity that will come ahead of us in the future," Alswaha added.

Saudi Aramco has more than $270 million (SR1 billion) in technology investments with Google – the largest in the MENA region, thanks to resilience, execution and speed.

The recently-announced “The Line” project in NEOM is a revolutionary idea of a 170-kilometer belt of hyper-connected artificial intelligence-enabled future communities, without cars and roads and built around nature.

It is a renewable energy, and pollution-free model that would cut costs, the minister said.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.