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Bloomberg Technology·2 min read

Dubai-Based Veon Says Digital Push to Offset Energy-Driven Costs

Veon anticipates rising costs due to Middle East conflict

Veon Ltd., a telecommunications company based in Dubai, is bracing for increased costs due to the ongoing conflict in the Middle East. CEO Kaan Terzioglu indicated that if oil prices remain between $90 and $120 a barrel, the resulting inflation could inflate operational costs by as much as 9%. However, the company aims to mitigate these impacts through an expanded range of digital services.

Key Takeaways

1.
CEO Kaan Terzioglu stated that energy-price increases could inflate costs by 9%.
2.
Veon is based in Dubai and is expanding its range of digital services.

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Dubai-Based Veon Says Digital Push to Offset Energy-Driven Costs | Trace