Company Insights Zain Group Telecoms Zain Group News Analysis Industry Iraq’s biggest telecoms firms tap into resurgent market Lower taxes, improved political stability and troubles at a smaller rival have helped Iraq’s top two telecoms operators reverse a decline in earnings. Now the duo, Zain Iraq, a subsidiary of Kuwait’s Zain, and Asiacell, which is majority owned by the former Qatari telecom monopoly Ooredoo, should prosper further in 2024. Zain and Asiacell have […] January 15, 2024 Analysis Tech Korek Telecom fights $1.65 billion award to partners A Dubai court will next month hear whether it should scrap a $1.65 billion award against an Iraqi telecom operator and its politically connected top shareholder. The long-running dispute underscores the risk that foreign investors face in Iraq, a country devastated by decades of conflict and sanctions and which is among the world’s most corrupt […] January 11, 2024 Infrastructure Gulf telcos sign deal to create $2bn tower company Telecom operators Ooredoo and Zain Group on Tuesday said agreements have been signed to create the largest tower company in the Middle East and North Africa. The cash and share deal, which also involves Dubai-based Tasc Towers Holding, will establish a company comprising 30,000 telecom towers in Qatar, Kuwait, Jordan, Iraq, Algeria and Tunisia, with […] December 5, 2023 Tech Kuwait’s private sector to aid final broadband push Kuwait is looking to the private sector to help roll out the final stage of a national fibre-optic broadband project that forms part of the country’s digital transformation ambitions. The Ministry of Communications has announced plans to use private public partnerships (PPP) in coordination with the Kuwait Authority for Partnership Projects. The PPP will take […] November 1, 2023 Tech Kuwait’s Zain ups stake in UAE’s telco tower company Kuwaiti telco Zain Group has increased its share in the UAE-based TASC Towers from 83.47 percent to 92.87 percent. The company will continue to operate independently with a board of non-Zain majority members, Zain Group vice-chairman and CEO Bader Nasser Al-Kharafi said in a statement to Boursa Kuwait. “Given the nature of Zain’s shareholding and […] September 18, 2023 Finance Kuwaiti telco Zain Q2 profit rises 14% rise to $187m Kuwait’s Zain Group said net profit during the second quarter of 2023 grew 14 percent year on year to KD57 million ($187 million) as the telecom firm’s customer base continued to grow. Revenue rose 10 percent to hit KD461 million in the three months to June 2023. Ebitda reached KD182 million, up 10 percent year […] August 9, 2023 Development Qatar’s Ooredoo profit rises 26% to $228m in Q2 Qatari telecom company Ooredoo reported a net profit of QAR831 million ($228 million) in the second quarter of 2023. This is an increase of 26 percent compared to a year earlier. Revenue for the second quarter rose four percent year on year to QAR5.77 billion, the telecom company said in a statement. The net profit […] July 31, 2023 Manufacturing Talks begin to set up Mena’s largest telco tower venture Qatar’s Ooredoo, Kuwait’s Zain Group and UAE’s TASC Towers Holding have started talks to create one of the largest telecommunications tower companies in the Middle East and North Africa (Mena). The discussions seek to combine their 30,000 telecommunication tower assets in Qatar, Kuwait, Algeria, Tunisia, Iraq and Jordan into a jointly owned independent tower firm […] July 25, 2023 Infrastructure Chinese telco enters Gulf with Zain Omantel tie-up One of China’s biggest wireless mobile network operators will make its GCC debut through a connectivity agreement with Zain Omantel International. State-owned China Telecom Global (CTG) signed the deal with Zain Omantel International (ZOI), a joint venture formed in May by Kuwait’s Zain Group and Oman’s Omantel. The deal with CTG is a “strategic subsea […] July 12, 2023 Analysis Trade Gulf telcos nurse FX losses as foreign expansion sours Gulf telecom operators have suffered multi-billion-dollar currency losses arising from their foreign subsidiaries. They would have to recognise these in their income statements should they ever sell or lose overall control of the units in question. As mobile penetration in their home markets topped 100 percent – meaning there were more mobile subscriptions than residents […] June 6, 2023 Posts navigation Previous 1 2 3 Next
Analysis Industry Iraq’s biggest telecoms firms tap into resurgent market Lower taxes, improved political stability and troubles at a smaller rival have helped Iraq’s top two telecoms operators reverse a decline in earnings. Now the duo, Zain Iraq, a subsidiary of Kuwait’s Zain, and Asiacell, which is majority owned by the former Qatari telecom monopoly Ooredoo, should prosper further in 2024. Zain and Asiacell have […] January 15, 2024
Analysis Tech Korek Telecom fights $1.65 billion award to partners A Dubai court will next month hear whether it should scrap a $1.65 billion award against an Iraqi telecom operator and its politically connected top shareholder. The long-running dispute underscores the risk that foreign investors face in Iraq, a country devastated by decades of conflict and sanctions and which is among the world’s most corrupt […] January 11, 2024
Infrastructure Gulf telcos sign deal to create $2bn tower company Telecom operators Ooredoo and Zain Group on Tuesday said agreements have been signed to create the largest tower company in the Middle East and North Africa. The cash and share deal, which also involves Dubai-based Tasc Towers Holding, will establish a company comprising 30,000 telecom towers in Qatar, Kuwait, Jordan, Iraq, Algeria and Tunisia, with […] December 5, 2023
Tech Kuwait’s private sector to aid final broadband push Kuwait is looking to the private sector to help roll out the final stage of a national fibre-optic broadband project that forms part of the country’s digital transformation ambitions. The Ministry of Communications has announced plans to use private public partnerships (PPP) in coordination with the Kuwait Authority for Partnership Projects. The PPP will take […] November 1, 2023
Tech Kuwait’s Zain ups stake in UAE’s telco tower company Kuwaiti telco Zain Group has increased its share in the UAE-based TASC Towers from 83.47 percent to 92.87 percent. The company will continue to operate independently with a board of non-Zain majority members, Zain Group vice-chairman and CEO Bader Nasser Al-Kharafi said in a statement to Boursa Kuwait. “Given the nature of Zain’s shareholding and […] September 18, 2023
Finance Kuwaiti telco Zain Q2 profit rises 14% rise to $187m Kuwait’s Zain Group said net profit during the second quarter of 2023 grew 14 percent year on year to KD57 million ($187 million) as the telecom firm’s customer base continued to grow. Revenue rose 10 percent to hit KD461 million in the three months to June 2023. Ebitda reached KD182 million, up 10 percent year […] August 9, 2023
Development Qatar’s Ooredoo profit rises 26% to $228m in Q2 Qatari telecom company Ooredoo reported a net profit of QAR831 million ($228 million) in the second quarter of 2023. This is an increase of 26 percent compared to a year earlier. Revenue for the second quarter rose four percent year on year to QAR5.77 billion, the telecom company said in a statement. The net profit […] July 31, 2023
Manufacturing Talks begin to set up Mena’s largest telco tower venture Qatar’s Ooredoo, Kuwait’s Zain Group and UAE’s TASC Towers Holding have started talks to create one of the largest telecommunications tower companies in the Middle East and North Africa (Mena). The discussions seek to combine their 30,000 telecommunication tower assets in Qatar, Kuwait, Algeria, Tunisia, Iraq and Jordan into a jointly owned independent tower firm […] July 25, 2023
Infrastructure Chinese telco enters Gulf with Zain Omantel tie-up One of China’s biggest wireless mobile network operators will make its GCC debut through a connectivity agreement with Zain Omantel International. State-owned China Telecom Global (CTG) signed the deal with Zain Omantel International (ZOI), a joint venture formed in May by Kuwait’s Zain Group and Oman’s Omantel. The deal with CTG is a “strategic subsea […] July 12, 2023
Analysis Trade Gulf telcos nurse FX losses as foreign expansion sours Gulf telecom operators have suffered multi-billion-dollar currency losses arising from their foreign subsidiaries. They would have to recognise these in their income statements should they ever sell or lose overall control of the units in question. As mobile penetration in their home markets topped 100 percent – meaning there were more mobile subscriptions than residents […] June 6, 2023
