Zain

Saudi Zein Initiates 3 New Broadband Projects for Remote Areas

Riyadh - Muslimchronicle

Communications and Information Technology Commission (CITC) and Zain KSA signed an agreement to implement three high-speed wireless broadband projects for remote areas of the Kingdom as part of the Universal Service Fund. The three projects are expected to provide service to more than 800,000 beneficiaries in 3,900 villages across 28 districts of Riyadh, Eastern Province, Asir Region and Makkah.Read more

Kuwait telecoms giant Zain's profits fall

Kuwait City - Muslimchronicle

Kuwaiti telecoms giant Zain on Sunday reported a drop in its third quarter net profits due to currency exchange losses in Sudan and conflict in Iraq. The company’s net profit in the third quarter fell seven per cent to 40 million dinars (Dh484 million, $132 million) from 43 million dinars ($142 million) in the same period last year, Zain saidRead more

Tadawul: Telecom stocks post gains

Jeddah - Arab Today

Strong telecommunications shares helped Saudi Arabia’s stock market rebound on Tuesday after steep losses due to the kingdom’s austerity policies, while most other Gulf markets moved little. Saudi Arabia’s Tadawul All-Share Index, which had dropped 3.7 percent in the previous two days, climbed 2.0 percent, although trading volume fell, suggesting many investors were not eager to buy into the rally.Read more

Zain Saudi inks loan deal with major Chinese bank

Jeddah - Arab Today

Mobile Telecommunication Company Saudi Arabia (Zain), a unit of Kuwait’s Zain, has signed a long-term commercial facility agreement for a loan with a two-year tenor, which can be extended by a year. Zain's deal is for a $600 million loan from Industrial and Commercial Bank of China Ltd., replacing a facility of it signed with regional banks two months ago,Read more

Kuwait's Zain telecom second quarter profits rise 14%

Kuwait City - AFP

Kuwaiti telecom giant Zain's net profits in the second quarter rose 14 percent despite currency losses and its operations in conflict zones, the company said Sunday. Zain said it posted a net profit of 45 million dinars ($149.5 million) in the three months to June compared with the same period in 2015. The net profit of Kuwait's largest mobile operatorRead more

Zain seeks Egyptian 4G telecom license

Kuwait - Arab Today

Officials from Kuwaiti mobile operator Zain will meet Egypt's telecommunications minister on Wednesday to discuss the terms for obtaining a fourth-generation (4G) license in Egypt, a senior telecom ministry official said on Tuesday. The official also told Reuters that Saudi Telecom, China Telecom and a European firm had expressed interest in acquiring a 4G license in the country of moreRead more