Matt's Feed
Mar 26, 2015

Network shutdowns hurt Iraq telcos but 3G offers some solace

DUBAI, March 26 (Reuters) – The financial damage to Iraq’s
mobile phone operators from the war against Islamist militants
is likely to worsen in 2015, but the recent launch of
long-awaited 3G services in government-controlled areas should
soften the blow.

Islamic State, which controls swathes of northern and
western Iraq, has destroyed transmitter towers in its territory
and people under their rule face harsh penalties if found using
mobile phones. The group fears users could give information to
its enemies.

Mar 25, 2015

Dubai’s Amlak to seek shareholder backing to lift six-yr trading halt

DUBAI, March 25 (Reuters) – Dubai’s Amlak Finance
will hold a shareholder meeting on April 16 to seek their
approval for lifting a six-and-a-half year trading suspension on
the mortgage lender’s shares, according to a bourse filing on
Wednesday.

If shareholders agree, the board will then seek permission
from the “concerned authorities” to resume trade and determine a
date to do so.

Mar 23, 2015

Dubai’s Arabtec seeks to sell four Saudi units, eyes kingdom expansion

DUBAI, March 23 (Reuters) – Dubai’s Arabtec plans
to sell four of its five Saudi Arabian units, the builder’s
annual results show despite also stating that one of its main
aims this year is to expand its activities in the kingdom.

The board of Arabtec, which is 36 percent owned by Abu Dhabi
state fund Aabar Investments and reported a surprise
fourth-quarter loss on Sunday, has approved disposing of Arabtec
Saudi Arabia, Arabtec Construction Machinery, Saudi Austrian
Arabian Ready Mix Co and EFECO Saudi.

Mar 19, 2015

Qatar’s Ooredoo expects revenue to fall in 2015

DUBAI, March 19 (Reuters) – Qatar’s Ooredoo
forecasts its revenue will fall by as much as 3 percent in 2015
and core earnings will drop by a similar margin, a presentation
by the telecommunications operator on its website shows.

Ooredoo, which has expanded its operations into about 15
territories in the Middle East, Asia and Africa, is considered
among the best-run of the Gulf operators, having avoided the
excessive prices which its regional rivals paid to build up
foreign portfolios.

Mar 17, 2015

Egypt, Arabtec near agreement on $40 billion housing project – government

CAIRO/DUBAI (Reuters) – Egypt’s housing ministry and Dubai’s Arabtec ARTC.DU have agreed some of the terms for a $40 billion project to build one million homes across the country, and they will sign a final contract within 10 days, a ministry spokeswoman said on Tuesday.

Earlier this month, the housing minister said he hoped to conclude a deal for the mega development – seen as part of economic and political support to the country by the United Arab Emirates – before a March 13-15 investment conference.

Mar 17, 2015

Egypt, Arabtec near agreement on $40 bln housing project -govt

CAIRO/DUBAI, March 17 (Reuters) – Egypt’s housing ministry
and Dubai’s Arabtec have agreed some of the terms for
a $40 billion project to build one million homes across the
country, and they will sign a final contract within 10 days, a
ministry spokeswoman said on Tuesday.

Earlier this month, the housing minister said he hoped to
conclude a deal for the mega development – seen as part of
economic and political support to the country by the United Arab
Emirates – before a March 13-15 investment conference.

Mar 16, 2015

Dubai Investments to float group member in 2016 -CEO

DUBAI, March 16 (Reuters) – Dubai Investments, a
diversified Gulf-based investment group, plans to float shares
in at least one subsidiary next year and could also divest other
holdings, its chief executive said on Monday.

The firm, which reported a 63 percent rise in annual profit
to 1.34 billion dirhams ($364.8 million) last year, has primed
three subsidiaries – in financial services and property, plus
district cooling firm Emicool – to potentially list on the Dubai
Financial Market in 2016, Khalid bin Kalban told reporters.

Mar 15, 2015

Iraqi court dismisses $4.5 bln claim against Zain, says verdict final

DUBAI March 15 (Reuters) – An Iraqi court has rejected a
$4.5 billion lawsuit against Zain over its 2007
acquisition of an Iraqi telecom operator, dismissing the
applicants’ right to appeal, the Kuwaiti group said on Sunday.

In a separate judgment, a court also fined Zain unit Zain
Iraq $100 million for using a range of mobile phone numbers
without the telecom regulator’s permission, although the
operator can still appeal against this penalty.

Mar 10, 2015

Strong league to fuel Qatar’s Asia ambition, says chief

DUBAI (Reuters) – Qatar’s soccer league chief hopes a close alliance with the national team can help the country improve its international performance following a disappointing Asian Cup this year.

The energy exporter is the world’s richest country per capita and has used its dizzying wealth to become a major force in soccer – at least off the pitch.

Mar 10, 2015

Soccer-Strong league to fuel Qatar’s Asia ambition, says chief

DUBAI, March 10 (Reuters) – Qatar’s soccer league chief hopes a close alliance with the national team can help the country improve its international performance following a disappointing Asian Cup this year.

The energy exporter is the world’s richest country per capita and has used its dizzying wealth to become a major force in soccer – at least off the pitch.