2007
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Etisilat Misr to borrow $850m
Cairo-based Etisalat Misr, a unit of Abu Dhabi-based Etisalat, plans to borrow about $850m to repay debt and help pay for a mobile network in Egypt, reported Bloomberg. Chief Financial Officer Ali Abu Hijleh said the firm is seeking a 3 billion-Egyptian pound ($547m) loan and a $300m loan. Etisalat started its Egyptian unit on May 1 after paying $2.9bn last year for Egypt's third mobile-phone licence.
HTC launches 3.5G Touch
Taiwanese firm HTC, the world's leading provider of Windows Mobile-based smart devices, has launched a new PDA model in the Middle East. The new HTC Touch Dual expands the HTC Touch product family and integrates 3.5G connectivity and a sliding keyboard into a slim and stylish design.
Nawras to offer 3.5G
Mobile operator Nawras is to offer 3.5G services in Oman within two months although a soft launch for the firm's employees and customers living between Qurum and Al Athaiba, constituting a free trial, is set to occur imminently, reported the Times of Oman. Nawras will roll out fast Internet connections, video calling, video surveillance and quick browsing on 3G enabled handsets to those in Muscat and Sohar after the official launch.
$3bn Qtel term loan closes
A $3bn syndicated term loan for Qatar Telecom (Qtel) has been closed according to the facility's underwriters, reported The Peninsula. The transaction was initially launched at $2.5bn but it attracted heavy support in general syndication and the amount of the loan was raised to $3bn. The five year loan will be used to refinance an existing $2.5bn bridging loan and for 'general corporate purposes'.
Partners for Green Packet
Green Packet Networks (GPN), a wireless broadband technology provider and next generation mobile solutions developer, has signed agreements with three new partners in Bahrain. The new partners are: Etisalcom, the Bahrain Advanced Technology Company and Al Muallim. GPN, which was launched in Bahrain in February, is a joint venture between Malaysia's Green Packet and the Saudi Economic and Development Company, an investment firm.
UAE firms to Indiasoft
Indiasoft 2008, an IT global networking event in India, could see the presence of as many as 20 UAE based firms according to Kamal Vachani, the Regional Director of the Electronics and Computer Software Export Promotion Council and cited by Gulf News. The event will take place from March 20-21 at the Hyderabad International Convention Centre and representatives from over 50 countries will attend.
LG targets 5.2m handset sales
LG Electronics hopes to sell 5.2m mobile handsets in Africa and the Middle East (MEA) this year, a 112% advance on last year's total, reported Gulf News citing K.W. Kim, the firm's President for the MEA region. LG sold 4.1m in the first nine months of the year, generating $295m. The South Korean firm said its Prada and Shine models had performed especially well.
Etisalat widens location display
Etisalat has extended its location display facility to cover the whole of the UAE. The service is free of charge and a user will be able to access area information by enabling 'Cell Area Info Display', or any other similar option, in their mobile handset's settings. It is hoped the service will be of particular help in remote locations away from cities.
Zain Saudi launch H1 2008
Zain is expected to launch its mobile service in Saudi Arabia in H1 next year according to the KUNA. The CEO of Zain's operation in the kingdom, Marwan Al Ahmadi, provided the planned time-frame in an interview with the Al Iqtisadia newspaper. Al Ahmadi also confirmed the telco operator would not enter into a price war with existing providers Mobily and the Saudi Telecom Company.
Batelco targets acquisitions
Batelco plans to acquire rival operators as it bids to make good an expected decline in domestic profits as competition kicks in, reported Reuters. CEO Peter Kaliaropoulos said the firm would look to borrow around $1.5bn and would be targeting telco operators 'the size of Batelco' and worth up to $4bn. Kaliaropoulos said it was hoped a couple of purchases would be made next year.
Tejari into China
Tejari, the online business-to-business marketplace for emerging markets, is to enter China with operations fully underway by the end of this year. Trade between the UAE and China is expected to reach around $19bn this year and Tejati hopes its involvement will boost 2008's figures. Tejari CEO Omar Hijazi announced the move at last week's Qingdao ASEM Forum.
UAE tops Gulf in security threats
The UAE is the source and target of the most internet security threats in the Middle East, reported Gulf News citing a global report of 180 companies by Symantec. The report said the UAE ranks 40th in terms of origin of attacks as well as being targetted by online fraudsters as compared with 46th in second half of 2006. Online perpetrators are attracted to the UAE because it has become a commercial hub in the Gulf, the report said.
Raqmiyat develops clearing system
Raqmiyat, a UAE-based systems integration firm, has implemented an innovative electronic cheque clearing system for HSBC Bank. More than 30 other banks in the UAE have signed up with Raqmiyat to use its ICCS-Connect solution to facilitate the Image Cheque Clearing System, which has been mandated by the UAE Central Bank to bring about changes in the way cheques will be processed in the country and in response to strong demand by banks in the Gulf for more reliable payments solutions.
Du quadruples revenues
UAE-based telecom operator Du said its revenue quadrupled as mobile phone customers grew almost 60% in the three-month period and it sold more fixed-line telephones, reported Reuters. Du had more than 880,000 mobile phone subscribers at the end of September, compared with 553,000 at the end of June. Meanwhile, revenues surged 304.2% in the third quarter to 412 million dirhams ($112m).
Etisalat extends promotion
Etisalat has announced that its promotional offer made during Ramadan for Wasel card users -offering a 10% extra credit on recharges of Dhs100 or more - would now be a permanent feature. Customers who buy a new Wasel prepaid SIM card for the value of Dhs165 will get free credit of Dhs65. Wasel customers can gain extra credit when recharging their prepaid account through Etisalat's online website, mobile payment service, auto-pay service, participating banks, and Emirates Post.
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