Middle East business information

Qatar Telecommunications (Qtel) will invest $700m over the next 10 years in the recently launched mobile phone firm Wataniya Palestine, Reuters has reported. $140m had been invested in licence fees and more than $100m in setting up the network, Sheikh Abdullah Bin Mohammed Saud al-Thani, Chairman of Qtel said. Wataniya Palestine is owned by Kuwait's National Mobile Telecommunications Co., a unit of Qtel, and a holding company for Palestinian public assets.