Arab Today, arab today kuwait\s zain telecom q2 profits dive
Last Updated : GMT 21:47:54
Arab Today, arab today
Arab Today, arab today

Kuwait\'s Zain telecom Q2 profits dive

Arab Today, arab today

Arab Today, arab today Kuwait\'s Zain telecom Q2 profits dive

Kuwait City - AFP

Kuwait telecom giant Zain\'s net profits dived 14 percent in the second quarter of 2013, the company said on Monday, blaming currency fluctuations from its unit in Sudan. The company posted a net profit of 61 million ($214 million) in the April to June period of 2013, compared to 70.9 million dinars ($248.8 million) in the corresponding period of last year, a statement said. In the first six months of 2013, Zain net profit dived 20.3 percent to 113 million dinars ($396.5 million) compared with 141.9 million dinars ($497.9 million) in the first half of 2012. Zain blamed the drop on the adverse impact of currency fluctuations predominantly in Sudan saying it had cost the firm $347 million in revenues and $80 million in net profit for the six month period. With regards to its loss-making Saudi unit, Zain said it signed an agreement last month with the Riyadh government to postpone payments of its entitlements over the next seven years. These deferred payments are estimated at $213 million annually, a total of $1.5 billion for the entire period, Zain said. It has been agreed that the postponed instalments will be converted into a commercial loan, the first instalment is due on 1 June 2021. Earlier in the year, Zain said it funded an increase in its stake in the Saudi unit from 25 percent to 37 percent. Over the past 12 months, the company added 3.0 million new clients and its total subscribers rose to 44.4 million on June 30, 2013 across eight countries. Besides Kuwait, Zain has operations in Bahrain, Iraq, Jordan, Lebanon, Saudi Arabia and Sudan. It also manages a unit in Morocco. Zain, in which the government holds a stake of almost 25 percent, is one of three mobile operators in the emirate, along with the National Telecommunications Co (Wataniya) and Kuwait Telecommunications Co (VIVA).  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kuwait\s zain telecom q2 profits dive Arab Today, arab today kuwait\s zain telecom q2 profits dive

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kuwait\s zain telecom q2 profits dive Arab Today, arab today kuwait\s zain telecom q2 profits dive

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday