Veon Ltd Stock Price, News & Analysis

VEON (Nasdaq: VEON, Euronext Amsterdam: VEON) has announced the re-appointment of UHY LLP as their independent registered public accounting firm for the Group's 2024 PCAOB Audit. UHY LLP is part of UHY International, a global network established in 1986 and ranked 19th among international audit networks. UHY International operates in over 330 business centers across 96 countries, serving various organizations including public corporations, private businesses, and non-profit entities.

VEON announces the launch of RYZE, an AI-powered digital lifestyle app by its Bangladesh operator Banglalink. The app targets Bangladesh's young population, where over 48% of 175 million people are under 25. RYZE offers AI-driven personalization, skill development resources, entertainment packages, and loyalty rewards, available to all mobile users across networks.

This launch adds to VEON's portfolio of digital-first lifestyle apps, including ROX in Pakistan, IZI in Kazakhstan and Kyrgyzstan, and OQ in Uzbekistan. VEON's digital services currently represent more than 10% of the Group's total revenues in H1 2024, serving 160 million connectivity customers and 110 million monthly active users across various digital products.

VEON's leadership team, including Chairman Augie Fabela and CEO Kaan Terzioglu, met with Pakistan's Prime Minister Shehbaz Sharif to discuss the country's digital advancement. The delegation highlighted VEON's investments in Pakistan's digital infrastructure through Jazz and Mobilink Bank, serving over 70 million mobile users and 63 million monthly active users across digital services like JazzCash, Tamasha, and Simosa. The team also met with various government officials including the Finance Minister and IT Minister. Pakistan, with 244 million people and 64% under 30, represents a significant digital growth opportunity. VEON plans to host its upcoming Board meeting and annual Board Strategy meeting in Pakistan, its largest market.

VEON's enterprise solutions business Garaj, part of Pakistan's Jazz operator, has signed an agreement with Standard Chartered Bank to establish a regional availability zone. Garaj will provide disaster recovery data center services through its advanced Tier 3 Data Center, which complies with Global TIA-942 standards. The partnership includes 24/7 operational support, dedicated Network Operations Center, and certified engineer helpdesk services. Garaj currently serves over 400 enterprise customers, including 98 of the top 100 Pakistan Stock Exchange listed companies, offering cloud infrastructure, cybersecurity, and managed services through two cloud availability zones.

VEON's subsidiary Jazz has partnered with NUST and NITB to develop Pakistan's first indigenous Large Language Model (LLM) focusing on Urdu, Pashto, and Punjabi languages. The five-year collaboration aims to bridge the digital divide by creating AI tools in under-resourced regional languages. This initiative follows VEON's similar efforts in Kazakhstan, where its subsidiary Beeline collaborated with GSMA and Barcelona Supercomputing Center for Kazakh language AI development. The project aims to enhance digital inclusivity and innovation across critical sectors including healthcare, education, and agriculture.

JazzCash, VEON's fintech platform in Pakistan, has partnered with the Benazir Income Support Programme (BISP) to distribute government cash support to women beneficiaries. JazzCash will channel PKR 78 billion (~USD 187m) to 1.3 million BISP-registered women across Pakistan by end of next year. The company has already transferred PKR 15 billion to beneficiaries in Hyderabad, Matiari and Rahim Yar Khan regions. The initiative includes dedicated disbursement centers, training support, and a complaint management unit with regional language support to ensure effective assistance.

VEON has launched Hambi, an AI-powered super app in Uzbekistan that consolidates digital services and connectivity into a single application. The app, whose name means 'all-in-one' in Uzbek, is available to all mobile users regardless of their provider. Hambi offers various services including e-health consultation (Hambi Davo), car insurance (Hambi Auto), digital marketplace, travel, entertainment, TV, fintech, and gaming functionalities. Beeline Uzbekistan customers get additional self-service options for managing tariffs, data, and roaming. Users can earn mobile data plans, discounts, and bonuses through daily engagement. The app features AI-powered elements for personalized user experience and joins VEON's portfolio of super apps across other markets.

VEON (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator, has announced the filing of its 2023 Dutch Annual Report with the Dutch Authority for the Financial Markets (AFM). The report includes audited consolidated financial statements for the year ended December 31, 2023, prepared according to International Financial Reporting Standards as adopted by the EU and Dutch Civil Code requirements. The complete report is available on VEON's website in the Financial Results section.

VEON (NASDAQ: VEON, Euronext Amsterdam: VEON) has announced it will release its Q3 2024 financial and operating results on 14 November 2024 at approximately 7:00 CET. The company will host a results conference call with senior management at 14:00 CET the same day.

To enhance shareholder engagement, VEON is partnering with Say Technologies to allow shareholders to submit and upvote questions starting from 6 November at 14:00 CET. The Q&A platform will be available until 24 hours before the conference call.