Sun 26 Sep 2010 07:52 AM
Saud Bin Majed
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Saud Bin Majed

Industry: Technology

Designation: Saudi Telecom (STC) is the Arab world's largest phone company, but has seen profits drop as international calls become cheaper and charges for using outside networks increase.

Country: Saudi Arabia

Occupation: Saudi Telecom (STC) is the Arab world's largest phone company, but has seen profits drop as international calls become cheaper and charges for using outside networks increase.

$47,192

Al Daweesh Saudi Telecom Co

Saudi Arabia

Saudi Telecom (STC) is the Arab world's largest phone company, but has seen profits drop as international calls become cheaper and charges for using outside networks increase. It recorded a 30 percent fall in net profit during the first half, which it also blamed on higher spending to deploy optic fibre. Even despite the slump, however, the company managed to claw in around $47,192 for each of its 21,190 staff, thanks to investments in a number of GCC countries, Asia and Africa.

The company is now present in Kuwait, India, Indonesia, Malaysia, Turkey, South Africa and Bahrain - plenty for CEO Saud Bin Majed Al Daweesh to keep an eye on.