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Batelco profits and turnover rise
Batelco profits and turnover rise Bahrain Telecommunications (Batelco) has reported a net profit of BD79.5m ($210.9m) for the first nine months of this year, up 1.5% from the same period last year. Turnover rose 4.4% to BD256.2m and net profit grew 1.5% to BD79.5m.
Mobily takes SR900m to expand Wimax coverage
Bayanat al-Oula, a subsidiary of Saudi Arabia's second largest mobile phone operator Mobily (Etihad Etisalat), has secured a SR900m loan from Sabb bank, which it will use to expand the geographic coverage of Wimax, as the firm bets on data to drive profit growth, Reuters has reported. The 66-month loan will help expand Wimax coverage to 20 cities from the current four, the company said.
Mobily's target price raised by Riyad Capital
Saudi Arabia-based brokerage services firm, Riyad Capital, has raised its target price for Etihad Etisalat Company (Mobily) to SR55 from SR46 with a 'buy' recommendation. 'We believe Mobily will capture 44% of voice and 40% of data market share by end-2010,' the brokerage said, as it raised its total subscriber forecast to 19.4 million from 18.2 million.
Gulf telecom industry rated stable by Moody's
A new report by Moody's Investors Services says the outlook for the integrated telecommunications industry in the GCC remains stable. Companies continue to demonstrate above-average credit metrics, clear conservative financial policies and solid liquidity backed by strong cash flow generation, the rating agency said. Currently, Moody's rates three integrated telecoms service providers in the GCC region; Qatar Telecom (Qtel) at 'A1/stable'; Emirates Telecommunications Company (Etisalat) at 'Aa2/stable'; and Saudi Telecom Company (STC) at 'A1/positive'.
Potential buyer seeks price cut in Zain stake
India's state-run telecom firm, Bharat Sanchar Nigam Ltd (BSNL) has said it will not pay more than $10bn for the 46% stake it is eyeing in Kuwait's Zain Telecom, well below the $13.7bn tag that the Kharafi family has attached to it, India's Business Standard has reported. The Kharafi family, which is selling its holding in Zain, is asking for 2 Kuwati Dinars per share. BSNL executives say this is too high and they will soon convey this to the Vavasi Group.
Batelco lowers calling card rates
Bahrain Telecommunication (BATELCO) has announced special reduced rates on '123Call Calling Cards' to the Gulf. The reduced rate to Kuwait, Oman, Qatar, Saudi Arabia, and UAE is only 85 fils per minute throughout the day, a company official said.
Etisalat to sell iPhone 3GS from Oct 27
Emirates Telecommunications Corporation (Etisalat) has announced October 27 as the launch date for the iPhone 3GS across the UAE. The new iPhone 3GS features a video camera, email, voice control and GPS maps.
Wataniya posts Q3 results
Wataniya has announced its Q3 results saying that total revenue fell by 5% YoY, reaching KD119m. Revenue from the Kuwaiti operation dropped by 16%, and contributed to 41% of total revenue compared to 46% in Q3 2008. At the end of September 2009, total active subscribers reached 12.5 million, a growth of 17% compared to the same period last year. Both the Algerian and Tunisian operations were the main contributors to total subscribers; 47.5% and 38% respectively.
Ericsson wins SR600m Mobily deal
Saudi Arabia-based Etihad Etisalat Company (Mobily) has awarded SR600m contracts to the Swedish infrastructure group Ericsson to expand the coverage and capacity of its mobile network including high speed packet access (HSPA) network. The project will increase network capacity and triple mobile broadband speeds, giving Mobily's customers a faster broadband internet experience, the company said in a statement.
UAE TRA grants mobile TV licences
The UAE Telecommunications Regulatory Authority (TRA) has agreed to grant a broadcast mobile TV service licence to the Emirates Mobile Television Corporation consortium, to provide mobile TV broadcasting services for 10 years with an acquisition fee of Dh17m, according to WAM. The consortium, which will have exclusivity to provide the service for five years, will provide services to Etisalat and du, whose customers will be offered a variety of mobile TV packages.
Motorola supplies Du with IPTV set-top boxes
Motorola, Inc. has supplied UAE telecommunications provider, Du, with its VIP series IPTV set-top boxes, the company has said. The VIP12xx series set-tops has support for both high-definition (HD) and standard-definition (SD) digital video services. Other interactive features include intuitive channel search and display, advanced browsing, instant channel changes, whole home DVR with client scheduling, media sharing for pictures, and music on their TV.
Qtel Q3 profit up 9%
Qatar Telecom (Qtel) has said its third-quarter profit rose 9% to QR711m ($195m) from QR655m a year earlier, Bloomberg has reported. The group's consolidated customer base had reached 53.4 million at the end of September, the company said. 'Indonesia, Algeria and Iraq are the fastest growing markets under Qtel's operations,' according to Chandresh Bhatt, assistant vice president of the research group for Kuwait-based Global Investment House.
Telecom Egypt keen to up Vodafone stake
The Middle East's largest fixed- line operator, Telecom Egypt is interested in boosting its stake in Vodafone Egypt, and is 'keeping its eyes open' for acquisitions, Bloomberg has reported. The Cairo-based company currently has a 45% stake in Vodafone Egypt and would be 'definitely interested' if Vodafone Group Plc offered a larger stake in the unit, the firm's CEO, Tarek Tantawy said.
UAE to allow migration between mobile plans
The UAE's telecom regulator plans to launch mobile phone portability next month, which will allow customers to migrate between Etisalat and Du networks using their existing number, Emirates Business has reported. Mohammed Gheyath, executive director, Technology Development Affairs at the Telecommunications Regulatory Authority, said the move will help boost competition between Etisalat and Du and bring price and service benefits to consumers.
Saudi Telecom Q3 profit drops 20%
Saudi Telecom has missed analysts' forecasts by posting a 20% drop in third-quarter net profit, partly due to investments in overseas affiliates, Reuters has reported. STC has made SR2.4bn in the three months to September 30, down from SR3.01bn a year earlier, the company said. Nine-months earnings fell to SR7.88bn, down 20% from a year ago, it said.
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