Fuel scarcity and electrical blackouts have hit operations hard, dragging Bangladeshi data usage down by 15 percent instead of achieving an anticipated 40 percent surge. Despite these operational disruptions, strong digital demand propelled third-quarter revenue up 17.2 percent to $1.31 billion. To drive further growth, the group is expanding satellite-to-mobile services with Starlink and investing $47.3 million for a controlling stake in JungoTV. The company also raised its 2026 dollar revenue growth guidance to between 16 and 18 percent while maintaining aggressive share buybacks.
Key points
Veon raised its 2026 dollar revenue growth outlook to a range of 16 to 18 percent based o…: Veon raised its 2026 dollar revenue growth outlook to a range of 16 to 18 percent based on digital momentum.
The company intends to permanently cancel at least $200 million worth of repurchased shar…: The company intends to permanently cancel at least $200 million worth of repurchased shares on an annual basis.
Regulatory resistance tied to sovereignty concerns must be resolved to bring Starlink ser…: Regulatory resistance tied to sovereignty concerns must be resolved to bring Starlink services to Pakistan and Uzbekistan.
Sources checked by our analysis pipeline: 1
Nov 6 : The chief of Dubai-based telecoms group Veon said on Friday that fuel shortages were a bigger threat to its business than rising prices, pointing to power outages in Bangladesh that have halted factories and strained mobile networks.
Data use in Bangladesh has fallen 15 per cent this year, when it should have risen about 40 per cent, CEO Kaan Terzioglu told Reuters.
Starlink’s satellite-to-mobile service, which Veon runs on its spectrum and network, now reaches 13.2 million subscribers across Veon’s markets, including Ukraine through Kyivstar. Android phones can use it, and iPhone support is expected within about a month, pending an Apple software update, Terzioglu said.
The service is not yet offered in Pakistan or Uzbekistan. Terzioglu said those governments were concerned about sovereignty and that Veon was still working to win their approval.
Terzioglu also said Veon would keep buying back at least $200 million worth of its own shares a year, and that cancelled shares would not be reissued, after raising its 2026 revenue forecast earlier on Friday.
Analysts at Jefferies reported an improvement in customer foot traffic across convenience stores during October. This rebound in overall store visits came even as the retail sector continued to grapple with lagging food sales. The trend indicates shifting consumer purchasing patterns inside these retail locations.
Transit operators across the London Underground are preparing to walk off the job for multiple 24-hour periods in the coming months. The labor action follows an unresolved conflict between staff and management concerning working arrangements. Commuters will face disruptions once union leadership confirms the precise calendar for the planned walkouts.
Elon Musk revealed that manufacturing at the Austin, Texas Gigafactory will halt around mid-2026 to redirect manufacturing floor space toward the Cybercab robotaxi. The move follows persistent commercial underperformance, widespread safety controversies, and severe supply chain scrutiny since deliveries commenced. Tesla gave no confirmation that assembly will resume elsewhere.