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

Veon Ltd., a Dubai-based telecommunications company, expects the Middle East conflict to raise costs, even as its expanding range of services — including digital offerings — should help cushion the impact.

“Energy-price increases will have an impact on every industry, and we are also an energy consumer,” Chief Executive Officer Kaan Terzioglu said in an interview Friday. If oil prices remain in the $90-to-$120 a barrel range, the resulting inflation could be as much as 9% for the business, he said.