Iraq operators facing mandatory IPO deadline
Iraqi operators Asiacell, Korek Telecom and Zain are facing a mandatory deadline for an initial public offering of stock, with reports stating that the companies have to sell-off a 25 percent holding...
View ArticleZain receives final Africa payment
Zain said that it had received the final US$700 million payment for the sale of its African assets to Bharti Airtel. It said that the funds will “further strengthen the company’s financial position,”...
View ArticleZain reports solid H1 growth
Middle East operator group Zain reported a 17 percent increase in net income to US$506 million for the first half of 2011, on revenue up 2 percent to US$2.38 billion. The company said the figures do...
View ArticleReport: Zain Saudi Arabia CEO to step down
The CEO of operator Zain Saudi Arabia is to resign according to a report in Kuwaiti newspaper al-Rai. Saad al-Barrak is expected to step down at the operator’s board meeting today although his reasons...
View ArticleZain reports 7% profit boost despite currency losses
Kuwait-based operator group Zain has reported a 7 percent increase in net income for the first nine months of 2011 compared to a year previously, despite US$100 million-worth of losses due to currency...
View ArticleZain Iraq signs up Ericsson
Middle East operator group Zain’s Iraq division has signed a US$650 million networking outsourcing deal with Ericsson. The five-year deal will see the Swedish network vendor modernise, manage and...
View ArticleZain and Microsoft strike Windows Phone deal
Kuwaiti-based operator Zain and Microsoft have struck a deal to jointly promote Windows Phone-based smartphones and apps across the operator’s Middle East and North Africa footprint.In a statement,...
View ArticleZain facing Iraq IPO fine
The Iraq authorities are set to fine market leader Zain for failing to meet a deadline to list on the country’s stock exchange, following similar actions against peers Asiacell and Korek Telecom,...
View ArticleVodafone and Zain set for MEA alliance
Middle East operator group Zain is apparently at an “advanced stage” in negotiations with Vodafone Group, over a deal which would see it becoming Vodafone’s preferred roaming partner for the...
View ArticleVodafone and Zain ink Middle East partnership
Vodafone has signed up Zain on one of its so-called ‘Partner Market’ agreements, significantly expanding the UK-based group’s presence in the Middle East. In a statement this morning, Vodafone said it...
View ArticleZain profit falls on forex losses
Middle East operator group Zain said that in the first nine months of 2012, it saw a net income of KWD201.6 million (US$717.5 million), down 4.1 percent year-on-year, on revenue of KWD974.6 million, up...
View ArticleZain moving toward Iraq IPO
Reuters reports that Zain is set for an initial public offering of its Iraq unit in “early 2013”, although the structure of the unit still needs to be modified in order to enable this. Zain, along with...
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Zain appoints former rival as new CEO
Kuwait-based operator group Zain has appointed the former boss of domestic rival Wataniya as its new chief executive.Effective today, Scott Gegenheimer replaces Nabeel Bin Salamah, who announced in...
View ArticleReport: Airtel eyeing SA buy
Bharti Airtel is looking to acquire an operator in South Africa, with the market’s smallest operators Cell C and 8ta in the frame, Business Day reported.The deal would enable the India-based...
View ArticleWiMAX player halts 4G auction in Bahrain
TRA, Bahrain’s regulator, has stopped a multi-band spectrum auction after a successful appeal by Menatelecom, a local WiMAX operator.Under earlier revised auction rules, TRA scrapped open bidding in...
View ArticleZain H1 profit hit by flailing Sudanese currency
Zain, the Kuwaiti-headquartered firm with mobile operations in eight markets across the Middle East and Africa, said the weakening Sudanese pound wiped out the equivalent of $80 million from net profit...
View ArticleZain beefs up mobile money with eServGlobal
The Zain telecoms group says it will enhance existing mobile money services in some countries where it operates, plus support the rollout of m-commerce in others, following a contract award to mobile...
View ArticleZain data boost fails to offset foreign currency impact
Kuwait-based operator group Zain’s third-quarter results were hit by foreign currency fluctuations which offset an increase in data revenue for the period.Zain’s substantial investments in 3G and LTE...
View ArticleBahrain watchdog says regulation partly to blame for “dysfunctional” OTT...
Bahrain’s operators are being hampered from competing with OTT rivals, partly because they are limited by regulation, according to a report from the country’s Telecommunications Regulatory AuthorityIn...
View ArticleZain CEO says 3G/4G investment is paying off
Zain, the Kuwaiti-headquartered firm with mobile operations in eight markets across the Middle East and Africa, posted steady Q1 growth in sales and an 8 per cent jump in net income on the back of...
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