Saudi Telecom Co (STC), the Gulf's biggest telecom operator by market value, blamed rising costs as it posted an 8.7 per cent fall in second-quarter profit on Wednesday to extend a profit slump and miss analyst estimates.
Ooredoo Oman, the sultanate's No.2 telecom operator, reported a 16.2 per cent rise in second-quarter net profit on Tuesday.
The firm, majority-owned by Qatar's Ooredoo, made a net profit of RO11.5 million ($29.9 million) i
Du, the United Arab Emirates' No.2 telecom operator, reported a 10 per cent fall in fourth-quarter profit on Thursday, missing analysts' estimates.
The firm, which ended rival Etisalat's domestic monopoly in 2007, made
Mobily, a leading telecom company in Saudi Arabia now provides 4G LTE international roaming services in 35 countries, including 61 leading, most popular and global telecommunications operators.
Mobily explained that the cove
Saudi Arabia's Mobily reported a 71 per cent tumble in third-quarter net profit on Monday, missing analysts' estimates, after the kingdom's second biggest telecom operator took provisions for bad debts and impairments on its investme
Du, the UAE's second-biggest telecoms operator, aims to maintain double-digit revenue growth and pay a half-yearly dividend in 2014, it said on Thursday after posting sharply slower growth in quarterly profits.
Etisalat, the United Arab Emirates' biggest telecoms operator by revenue and subscribers, fell short of analysts' expectations with a 70 percent rise in fourth-quarter net profit.
The former monopoly, which operates in abo
Telecom operator Zain wants to retain majority control of its Bahraini subsidiary after the unit's initial public offering, but has yet to agree the exact terms of the share sale, the Kuwaiti firm's chief executive said on Sunday.
Ooredoo, Qatar's leading telecom operator, said it has hired five leading banks to arrange the sale of its first dollar-denominated Islamic bond (sukuk) offering.
The banks mandated for the sukuk are DBS Bank, Deutsche Bank, H
Nawras, a leading telecom operator in Oman and an Ooredoo company, is offering businesses one month’s free voice and Internet services to mark the Khareef season.
For the next three months, Nawras Internet & Voice Profes