Zain to focus on Middle East

Nabil bin Salama, the newly appointed chief executive of Kuwait's Zain, has said the company will concentrate on the Gulf and Middle East region and is open to new investments, Reuters has reported. Zain sees great growth opportunities in Iraq, Saudi Arabia and Sudan, he told the news service. Last week Zain said it would earn up to $5bn in profit from the planned sale of its African assets, excluding Sudan and Morocco, to Bharti Airtel in a $9bn deal and use the rest to pay down debt.