MEED
Will Hadfield

News Editor Telecoms & IT, Capital Markets

Etisalat

2 February 2010, 7:23 GMT
The Middle East’s largest telecoms company is attracting greater scrutiny as it increases in size.
Nazif extends import duty exemption on sugar to ease pressure on Egyptians

3 January 2010, 18:28 GMT
Government wants to spare ordinary Egyptians from rising food prices
Egyptian regulator establishes level playing field for telecoms

3 January 2010, 18:01 GMT
Telecoms companies banned from loss-leading promotions
Saudi Arabia's inflation rate rises to 4 per cent

31 December 2009, 13:13 GMT
Kingdom’s peg to a weak dollar hits economy
Mobinil launches £E1.5bn corporate bond

31 December 2009, 12:39 GMT
Orascom Telecom has appealed against markets regulator’s decision
King Abdullah reforms Jordanian tax laws

30 December 2009, 19:41 GMT
Government plans to increase revenues
Central Bank of Egypt leaves interest rates unchanged

30 December 2009, 19:37 GMT
Decision follows six successive months of cuts
Orascom Telecom wins shareholder approval for $800m rights issue

30 December 2009, 17:43 GMT
Rights issue will give flexibility during tax dispute with Algeria
Orascom Telecom appeals against Algerian claim for $600m unpaid taxes

29 December 2009, 13:52 GMT
Djezzy generates 38 per cent of group revenues
Transport 2010: Railway building enjoys a revival in the Middle East

Supplement: MEED Yearbook 2010
Countries across the region are upgrading their rail transport systems but investment in roads is lacking
Transport 2010: Railway building enjoys a revival in the Middle East

Supplement: MEED Yearbook 2010
Countries across the region are upgrading their rail transport systems but investment in roads is lacking
Dubai World seeks time to repay debts

Issue No 48 27 November - 3 December 2009
Cost of insuring emirate’s debt soars after government asks creditors for a ‘standstill’ on $27.2bn owed
Cairo casts its net for investment

Issue No 46 13-19 November 2009
The country is seeking foreign funding for a $15bn programme of infrastructure projects
Investors must be rewarded in Egypt

Issue No 46 13-19 November 2009
Cairo cannot fall back on revenues from oil and gas sales to pay its way. Egypt offers relatively meagre financial returns to investors
Banking deregulation is key for Cairo

Issue No 44 30 October - 5 November 2009
With an underdeveloped banking sector, Cairo must finance economic activity using foreign investment
Cairo seeks foreign investors for $24bn worth of projects

Issue No 44 30 October - 5 November 2009
Government seeks to attract foreign investment for schemes in a range of sectors
Libya's need for power outweighs cost

14 August 2009, 18:35 GMT
Tripoli should be more concerned with meeting its citizens' power needs than with squeezing contractors' profit margins.
Cairo bourse shows signs of life

31 July 2009, 15:58 GMT
While the Egyptian stock market fell further and faster than many of its Western counterparts after the global downturn hit last year, it is recovering more quickly.
Dolphin Energy completes refinancing

24 July 2009, 18:19 GMT
Dolphin Energy closed the $3.5bn refinancing of its debt on 24 July.
Cairo's regulatory shake-up

23 July 2009, 12:23 GMT
Egypt is unifying five of its financial services authorities and carrying out a series of other reforms to arrest the slowdown in its economy and boost foreign investors' confidence.
Downtown Cairo to be pedestrianised

10 July 2009, 15:59 GMT
Investment bank Beltone Financial seeks funding for plan to redevelop area on the east bank of the Nile.
Cairo rewrites rules for listed companies

10 July 2009, 13:47 GMT
Corporate governance code will increase power of non-executive directors to hold firms to account.
Mature Gulf markets offer slim pickings in telecoms sector

26 June 2009, 12:29 GMT
The large, regional telecoms operators have reached a difficult stage in their development, with the most attractive licences already auctioned off and the global recession eroding their profits.
Tehran cuts through investment red tape

4 June 2009, 16:19 GMT
Iran is changing investment rules to attract overseas buyers to its stock market, reducing the time they are required to hold investments and relaxing boardroom restrictions.
Regional merger and acquisitions activity slows

1 May 2009, 14:25 GMT
Value of deals in first three months of the year was $6.4bn, down 41 per cent on same period in 2008.
Orascom loses out over Mobinil

30 April 2009, 15:08 GMT
The Egyptian telecoms operator that has helped to pioneer mobile services in the region could sell its domestic business after a ruling by the International Court of Arbitration in France.
Reform delays harm Algerian economy

3 April 2009, 19:00 GMT
The ageing president has retained economic power in the state’s hands. The question is how hard the establishment will resist changes.
Security key to Algeria's economic success

2 April 2009, 12:51 GMT
If President Abdelaziz Bouteflika wins a third term, restoring the confidence of investors will be a priority.
Confidence returns to Riyadh's Tadawul

26 March 2009, 16:42 GMT
While the Saudi stock exchange fell further and faster than many Gulf markets in 2008, the worst appears to be over, with the exchange performing better than its peers so far this year.
Third Saudi mobile operator makes it mark

13 March 2009, 19:15 GMT
A reduced roaming call price offer from new arrival Zain has sparked fierce competition between the kingdom’s telecoms licence holders.
Cairo seeks to axe tax on fixed assets

13 March 2009, 15:16 GMT
Move is part of a three-stage plan to encourage foreign companies to invest in the country.
Saudi Telecom

13 March 2009, 0:00 GMT
With domestic competition growing, the former monopoly operator has an ambitious expansion strategy.
Zain

13 March 2009, 0:00 GMT
The launch of the Kuwaiti telecoms operator’s Saudi operation is the latest step in its expansion strategy.
Daewoo pulls out of Tripoli West deal

6 March 2009, 15:26 GMT
Gecol must find replacement civil works contractor and secure financing for scheme to go ahead.
Clients seek discretion over deals in Saudi Arabia

6 March 2009, 15:06 GMT
The global credit crunch is encouraging firms and investors in the kingdom to conduct mergers and acquisitions in private, one leading broker tells MEED, sparing sellers the embarrassment of publicly announcing their need to raise cash.
Amman prepares to liberalise fixed-line telecoms sector

6 March 2009, 14:38 GMT
Jordan could become the first Arab state to completely liberalise its fixed-line telecoms sector when a team of independent consultants appointed to overhaul the kingdom’s market makes its final report in the coming months.
Regional telecoms regulators

6 March 2009, 11:53 GMT
The six most influential telecoms regulators in the Middle East: Ahmad Hiasat, Alan Horne, William Fagan, Abdulrahman al-Jafary, Amr Badawi and Mohamad al-Qamzi.
Tunis exchange beats its peers

5 March 2009, 15:43 GMT
While most stock markets in the region have been following a downward trend, the Tunisian bourse has held up well during the downturn.
Qtel increases mobile phone customers by 42 per cent

2 March 2009, 13:02 GMT
Qtel, the telecoms operator owned by the Qatari government, had 1.8 million mobile phone customers in Qatar at the end of December last year, a 42 per cent increase on the number of customers at the end of 2007.
Zain profits climb 4 per cent in final quarter

2 March 2009, 11:56 GMT
Zain, the Kuwaiti mobile phone operator, grew its net profits by 4 per cent in the fourth quarter of 2008, making it one of the better performing telecoms companies during a difficult three month period.
Baghdad bourse shows potential

1 March 2009, 12:59 GMT
Iraq is already the region’s best performing stock market, and it may also become one of the most open.
Telecoms listings to triple value of Baghdad bourse

1 March 2009, 6:23 GMT
Finance ministers to enforce licence clause requiring operators to list.
Qatari market dives 8.9 per cent on earnings fears

26 February 2009, 14:43 GMT
Qatar's stock market lost 8.9 per cent of its value in the past week as investors reacted to fears of lower-than-expected earnings by selling shares on the Doha Securities Market (DSM).
Egypt heads for $4.9bn current account deficit

26 February 2009, 13:55 GMT
Egypt's current account balance swung into deficit between July and December last year, according to figures from the Economic Development Ministry released on 26 February.
Qtel pays $810m to take control of Indosat

26 February 2009, 13:12 GMT
Qtel, a telecoms operator majority owned by the Qatar government, has paid $810m to take its stake in Indonesia's second-largest mobile phone operator to a controlling 65 per cent.
Esca takes control of investment company regulations

25 February 2009, 14:19 GMT
The Central Bank of the UAE and the Emirates Securities & Commodities Authority (Esca) have signed an agreement giving the capital markets regulator the exclusive right to regulate investment companies for the first time.
Maroc Telecom profits increase by 23 per cent

25 February 2009, 13:56 GMT
Maroc Telecom has reported a 23 per cent rise in annual net profits, making it the fastest growing multinational telecoms operator in the region.
Fattouch launches Sudan mobile network

25 February 2009, 13:09 GMT
Lebanon's Fattouch Investment Group has launched the Vivacell mobile network in Sudan, becoming the fourth mobile operator in the country.
Eight candidates to contest presidency with Bouteflika

24 February 2009, 14:11 GMT
Algerian president Abdelaziz Bouteflika faces competition from eight other candidates in the presidential election on 9 April.
Jordan replaces finance minister as part of major reshuffle

24 February 2009, 13:44 GMT
Jordan's Finance Minister Hamad Kasasbeh has left the government as part of a major reshuffle.
Moroccan inflation falls to 4 per cent

24 February 2009, 13:39 GMT
Morocco’s inflation rate fell to 4 per cent in January 2009, down from 4.5 per cent in December 2008, according to an inflation update from the Haut-Commissariat au Plan published on 23 February.
Zain Saudi Arabia posts $608m loss

23 February 2009, 12:23 GMT
Zain Saudi Arabia lost SR2.3bn ($608m) in 2008, its first set of results since it listed on the Saudi Stock Exchange (Tadawul).
Alujain and Safra secure majority of Mobeed shares

23 February 2009, 12:07 GMT
Two Saudi petrochemicals companies, Alujain Corporation and Safra, have acquired the majority of shares in Arab Pesticide Industries Company (Mobeed), according to an announcement on the Saudi Stock Exchange on 22 February.
Orascom Telecom sells two businesses to Mobinil

23 February 2009, 11:43 GMT
Orascom Telecom has agreed to sell its Egyptian internet service provider LinkdotNet and its software development company Link Egypt to Mobinil, Egypt's largest mobile phone operator.
Iranian investment rule change is overdue

22 February 2009, 8:56 GMT
Iran is an unattractive destination for foreigner investors for reasons other than US-led sanctions.
Tehran opens door to foreign investors

22 February 2009, 6:21 GMT
Planned changes include increasing maximum share holding to 25 per cent and removing lock-in period.
Lebanon signs deal for telecoms cable with Saudi Arabia

20 February 2009, 17:06 GMT
Lebanon will get a new international telecoms cable boosting connections with Jordan, Saudi Arabia and Syria, according to the Telecommunications Ministry in Beirut.
Sorouh registers 42 per cent increase in profits

20 February 2009, 16:52 GMT
Sorouh, a listed Abu Dhabi real estate developer, registered a 42 per cent increase in net profits in 2008, according to financial results released by the company on 19 February.
Wataniya profits fall due to weakness in Algeria and Tunisia

20 February 2009, 16:21 GMT
Wataniya's 42 per cent drop in net profits during the fourth quarter of 2008 was caused by the deteriorating performance of its Algerian and Tunisian subsidiaries, according to the company's breakdown of its financial results.
Dubai Financial Market registers strong gains over week

19 February 2009, 14:08 GMT
The Dubai Financial Market registered the strongest gain in the region, finishing the week up 6.1 per cent at 1,601.
Orascom Construction Industries to buy back shares

19 February 2009, 13:08 GMT
Orascom Construction Industries, one of Egypt's largest quoted companies, will buyback 2 million shares, or 0.9 per cent of its share capital, by 17 March.
Libyan regulator starts telecoms licence auction

19 February 2009, 12:42 GMT
Libya's telecoms regulator has launched an auction for a combined fixed-line and mobile phone licence.
Tehran Stock Exchange to review Bank Mellat share sale

18 February 2009, 12:54 GMT
The Tehran Stock Exchange may decide to cancel the initial public offering (IPO) of Bank Mellat, after the state-owned bank failed to sell all the shares offered in its privatisation.
Qtel cuts charges at three GCC operations

18 February 2009, 12:33 GMT
Qtel will cut international roaming rates for customers of its three GCC businesses.
Drops in tourism and Suez Canal trade prompts Egyptian slowdown

17 February 2009, 13:04 GMT
Growth in Egypt's economy slowed sharply in the last three months of 2008, with income from tourism and trade passing through the Suez Canal both down, according to new figures from the Economic Development Ministry.
Salam International cancels secondary listing on Dubai exchange

17 February 2009, 12:45 GMT
Salam International Investment, a Qatari investment company, will cancel its secondary listing on the Dubai Financial Market (DFM), according to a company announcement on the exchange on 17 February.
Algerie Telecom privatisation called off

17 February 2009, 12:23 GMT
Algerie Telecom will not be privatised, according to the company's chief executive officer Moussa Benhamadi.
Shuaa Capital reports loss of $158m for last quarter

16 February 2009, 13:45 GMT
Shuaa Capital made a AED577m ($157m) loss in the final three months of 2008, according to results released on 16 February.
Paltel records 17 per cent rise in profits ahead of takeover decision

16 February 2009, 13:16 GMT
Paltel, the monopoly telecoms operator in the West Bank & Gaza, has reported a 17 per cent rise in net profits in the fourth quarter of 2008.
Omantel reports 67 per cent drop in fourth quarter profits

16 February 2009, 12:27 GMT
Omantel, the state-owned former telecoms monopoly in Oman, has reported a 67 per cent fall in net profits in the fourth quarter of 2008.
Ownership rules deter Gulf investors

15 February 2009, 13:17 GMT
Ventures need to make higher profits if investors are to gain the same returns they would make elsewhere.
Telecoms operators to be hit by cap on mobile roaming charges

15 February 2009, 9:01 GMT
Telecoms firms say their profits will suffer if regulators’ plan is approved.
Gulf suffers significant fall in foreign direct investment

15 February 2009, 7:57 GMT
Inflow of funds from overseas plummets on the back of the falling oil price.
Banque Centrale Populaire to raise $117m in rights issue

13 February 2009, 17:28 GMT
Banque Centrale Populaire, a listed Moroccan bank, says it is planning a MD1bn ($117m) rights issue.
Bouteflika launches election campaign with $150bn spending pledge

13 February 2009, 16:45 GMT
Algerian president Abdelaziz Bouteflika has promised to launch a $150bn spending programme if he wins a third term in office in elections due on 9 April.
Kuwait market falls as parliament fails to pass stimulus plan

12 February 2009, 13:48 GMT
The Kuwait Stock Exchange was the only loser among the major markets this week, falling 4.4 per cent to 6,614 points after the country's parliament failed to pass a stimulus package that included provisions to bail out troubled banks and investment companies.
Wataniya reports 33 per cent fall in fourth quarter net profits

12 February 2009, 13:03 GMT
Wataniya, the second-largest mobile operator in Kuwait, has reported a 33 per cent drop in net profits for the fourth quarter of 2008.
Kuwait's Al-Ahlia reports loss in revised set of results

12 February 2009, 12:19 GMT
Al-Ahlia Holding Company, a Kuwaiti investment company, has cut its net profits for the first nine months of 2008 by KD26.9m ($91.2m), following an investigation by the Kuwait Stock Exchange.
Egypt to save $230m by ending fertiliser subsidies

11 February 2009, 14:41 GMT
Egypt will scrap fertiliser subsidies at the end of the year, according to an announcement by Agriculture Minister Amin Abaza on 10 February.
Kuwait Investment Authority loses $31bn in nine months

11 February 2009, 14:10 GMT
The Kuwait Investment Authority (KIA) lost KD9bn ($31bn) during the nine months to the end of December 2008, according to figures leaked by members of the National Assembly (parliament).
Vodafone Qatar to launch services in summer

11 February 2009, 13:48 GMT
Vodafone Qatar expects to launch its mobile phone services in the summer, according to a company spokesman.
Orascom Telecom climbs 12.7 per cent on share buyback plan

10 February 2009, 13:42 GMT
Egypt's Orascom Telecom gained 12.7 per cent on the Egyptian Exchange on 10 February, after it announced plans for a share buyback programme.
Emaar closes Saudi brokerage arm

10 February 2009, 13:19 GMT
Emaar, the UAE real estate developer, has wound up its brokerage business in Saudi Arabia less than a year after the division started operations.
Meditel increases customer numbers by 18 per cent

10 February 2009, 12:53 GMT
Meditel, Morocco's second-largest mobile phone operator, increased its number of customers by 18 per cent during 2008, more than double the growth rate of its only competitor Maroc Telecom.
Al-Arafa considers launching takaful firms in Egypt

9 February 2009, 13:10 GMT
Al-Arafa Investment and Consulting, a financial services business listed on the Egyptian Exchange, is considering a plan to set up two takaful (Islamic insurance) firms, according to a statement from the company.
Khatami will contest Iranian presidential election

9 February 2009, 12:55 GMT
Mohammad Khatami, who served two terms as president of Iran between 1997 and 2005, has confirmed that he will stand in this June's presidential election where he is likely to face the incumbent Mahmoud Ahmadinejad.
Du makes first full-year profit

9 February 2009, 12:21 GMT
Emirates Integrated Telecommunications Company, or Du as it is better know, made its first full-year profit during 2008.
Beirut cuts tariffs for Zain and Orascom

8 February 2009, 11:23 GMT
Improved terms for operators of state-owned mobile networks are aimed at increasing customer numbers.
Qatar overtakes Dubai for investment

8 February 2009, 7:31 GMT
Bourse beats UAE exchanges as most popular market for fund managers investing in the region.
Kuwait index climbs 2.3 per cent as sovereign wealth fund moves into market

5 February 2009, 15:58 GMT
The Kuwait Stock Exchange was the best place for investors this week as the general index grew 2.3 per cent after the country's sovereign wealth fund made its first direct investments in companies on the exchange.
Private sector investment in Jordan rises 5 per cent

5 February 2009, 14:49 GMT
Businesses increased their investments in Jordan by 5 per cent during 2008, according to figures released by the Jordan Investment Board on 4 February.
Morocco awards third mobile phone licence

5 February 2009, 14:45 GMT
Morocco has awarded its third mobile phone licence to Wana, a telecoms business owned by Groupe ONA (Omnium Nord Africain), the holding company for the business interests of the country's royal family.
Wataniya Palestine secures $85m loan to complete network

4 February 2009, 13:14 GMT
Wataniya Palestine, a subsidiary of Qatar's Qtel, has secured an $85m loan to finish work on its mobile phone network.
Paltel to decide on Zain offer on 9 February

4 February 2009, 13:11 GMT
Paltel, the monopoly supplier of mobile and fixed-line telecoms in the West Bank and Gaza, will decide whether to sell a minority stake to Kuwait's Zain at a meeting of its board of directors on 9 February.
Banque du Liban governor warns against extra government spending

4 February 2009, 13:03 GMT
The governor of Banque du Liban, the central bank of Lebanon, has warned that any additional demands for government spending will hurt the country's already beleaguered public finances.
Expansion of Fujairah port container terminal delayed

3 February 2009, 15:24 GMT
DP World has postponed the planned expansion of the container terminal at Fujairah Port, as it reassesses costs in the wake of the global economic downturn.
Aqaba enjoys surge in Iraqi import traffic

3 February 2009, 15:17 GMT
The value of goods passing through the Jordanian port of Aqaba bound for Iraq increased almost five-fold last year to $1bn.
Jordan Telecom warns of difficult market in 2009

3 February 2009, 15:01 GMT
Jordan Telecom has warned that 2009 will offer a more difficult trading environment for the company.
Vodafone Egypt reports 32 per cent growth in customer numbers

3 February 2009, 14:55 GMT
Vodafone, the UK telecoms operator, has reported a 32 per cent increase in customer numbers at its Vodafone Egypt subsidiary, its largest business in the Middle East and North Africa.
Mobinil warns of falling profits in 2009

3 February 2009, 13:13 GMT
Mobinil, Egypt's largest mobile phone operator by customer numbers, has warned that profits will fall during 2009 as the global economic slowdown hits the Egyptian economy harder than many had expected.
UAE regulator to enforce corporate governance training

2 February 2009, 14:35 GMT
The UAE’s capital markets regulator is to make companies on the Abu Dhabi Securities Exchange and the Dubai Financial Market attend training sessions on its new corporate governance rules, which come into force in April 2010.
Sudatel suffers 27 per cent drop in 2008 profits

2 February 2009, 14:30 GMT
Sudatel, the state-controlled telecoms operator in Sudan, has reported a 27 per cent fall in net profits for 2008.
Qtel to delist shares from Bahrain Stock Exchange

2 February 2009, 14:26 GMT
Qtel, Qatar's monopoly telecoms operator, will end its secondary listing on the Bahrain Stock Exchange (BSE) on 26 February, according to a statement from the company.
Bailouts for listed companies need to be targeted

1 February 2009, 10:17 GMT
There is a clear danger that state bailouts will be too indiscriminate; government interventions should be transparent and targeted.
Saudi Telecom targets North Africa under expansion plans

1 February 2009, 9:06 GMT
Operator to co-ordinate bidding for fresh licences with Oger Telecom.
Qtel considers shares sale to finance further acquisitions

1 February 2009, 8:49 GMT
Qatar’s monopoly telecoms operator, Qtel, says it may sell more shares to finance licence acquisitions this year, after ruling out the use of debt to fund any new deals.
Sovereign funds come to the rescue

1 February 2009, 7:19 GMT
GCC governments are increasingly turning to their state investment vehicles to prop up ailing bourses.
Egypt's Oriental Weavers cuts export prices

30 January 2009, 13:53 GMT
Egypt's Oriental Weavers, the country's largest carpet manufacturer, will cut prices on exports to the US and East Europe by 10 to 15 per cent in a bid to improve its share of these markets.
UAE market regulator demands greater transparency

30 January 2009, 13:28 GMT
The UAE's stock market regulator has called on the country's listed companies to disclose their cash, derivatives and real estate investments in their full-year results for 2008, in a bid to restore investor confidence in its domestic equity markets.
Markets gain ground as governments prepare to intervene

29 January 2009, 15:02 GMT
What a difference a week makes, especially for investors in the Doha Securities Market. The index of Qatar's 20 largest listed companies gained 9.1 per cent to close at 5,253 points this week, a stark contrast to 20.5 per cent fall over the week ending on 22 January.
Egypt may enter recession in 2009, says Trade and Industry Minister

29 January 2009, 13:38 GMT
Egypt may go into a recession during 2009, according to one of the key figures in its government.
Etisalat reports 20 per cent drop in fourth quarter profits

29 January 2009, 13:20 GMT
Etisalat, the UAE telecoms operator, is the latest major listed company in the GCC to announce a sharp fall in net profits for the final three months of 2008.
IMF calls for more flexible exchange rate in Egypt

28 January 2009, 13:56 GMT
The International Monetary Fund (IMF) has called for the Egyptian authorities to ‘manage the exchange rate more flexibly’ in its annual review of Egypt’s economy.
Zain enters talks to buy stake in Paltel

28 January 2009, 13:40 GMT
Zain, Kuwait's largest telecoms operator, is holding talks with Paltel, the monopoly operator in the West Bank & Gaza, over acquiring a stake in the company.
IMF cuts growth forecast for Middle East economy

28 January 2009, 13:27 GMT
The International Monetary Fund (IMF) says the Middle East's economy will grow by just 3.9 per cent in 2009, a sharp decrease on its previous estimate that the region would grow by 6.1 per cent this year.
Global Investment House awarded Saudi brokerage licence

27 January 2009, 17:36 GMT
Saudi Arabia's Capital Market Authority (CMA) has approved a licence for Kuwait's Global Investment House (GIH) to provide brokerage services on the Saudi Stock Exchange (Tadawul).
Lebanon to introduce competition to broadband internet services

27 January 2009, 16:51 GMT
Lebanon's telecoms regulator is preparing to auction two nationwide licences to provide broadband internet services.
Regulator to overhaul Amman Stock Exchange rules

27 January 2009, 16:45 GMT
Jordan's capital markets regulator has approved an overhaul of the rules governing the Amman Stock Exchange.
Etisalat plans $5bn investment in Iran

26 January 2009, 13:12 GMT
UAE telecoms operator Etisalat will spend up to $5bn in Iran over the next five years, after recently winning a mobile licence in the country, according to its chairman Mohammed Hassan Omran.
Egyptian economy to slow to 4.8 per cent in 2009

26 January 2009, 12:42 GMT
Egypt's economy will grow at just 4.8 per cent during the current financial year ending on 30 June, according to EFG-Hermes, an Egyptian investment bank.
Etisalat Misr beats forecast on customer numbers

26 January 2009, 12:23 GMT
Etisalat Misr, the Egyptian subsidiary of UAE telecoms operator Etisalat, beat its own target for customer numbers at the end of 2008.
Regional mobile licence auctions stall as operators cut spending

25 January 2009, 12:03 GMT
Growth in telecoms sector slows as firms scale back their expansion plans.
Baghdad levies fines on two of three mobile operators

25 January 2009, 11:08 GMT
Telecoms firms Zain and Asiacell hit with penalties while Korek escapes.
Tunis warns of suffer sharp slowdown in exports

23 January 2009, 13:33 GMT
Tunisia’s export industries will suffer a sharp slowdown during 2009, according to Trade Minister Ridha Touiti.
First Gulf Bank completed AED9m share buyback scheme

23 January 2009, 13:23 GMT
The UAE's First Gulf Bank has completed a AED9m ($2.5m) share buyback programme.
Doha market loses 15 per cent despite rescue plan

22 January 2009, 15:21 GMT
If it was expected to quickly restore confidence in the local stock market, then the bank rescue plan by the Qatar Investment Authority (QIA) was a failure.
Batelco profits up just 2.7 per cent

22 January 2009, 14:22 GMT
Batelco, Bahrain's former state-owned telecoms operator, has reported net profits for 2008 of BD104m ($276m), up just 2.7 per cent year-on-year.
Saudi Telecom wins third Bahrain licence

22 January 2009, 12:55 GMT
Saudi Telecom has won Bahrain's third mobile phone licence with a bid of BD87m ($230m).
Riyadh approves anti-money laundering rules

21 January 2009, 13:27 GMT
Saudi Arabia's Capital Market Authority has approved a new set of anti-money laundering regulations.
Etihad Etisalat reports 51 per cent rise in profits

21 January 2009, 13:06 GMT
Etihad Etisalat, the Saudi subsidiary of UAE's telecoms firm Etisalat, has reported a 51 per cent rise in net profits for the last quarter of 2008.
Saudi Telecom profits fall 62 per cent

21 January 2009, 12:45 GMT
Saudi Telecom's net profits fell by 62 per cent to SR1.2bn ($311m) in the final three months of 2008, surprising analysts who had expected net profits of SR3.2bn.
EFG-Hermes is largest broker on UAE exchanges

20 January 2009, 13:33 GMT
Egyptian investment bank EFG-Hermes was the largest stock broker on the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) in 2008, according to official data from the two exchanges released on 20 January.
Business confidence falls sharply in the UAE

20 January 2009, 13:08 GMT
Business confidence fell faster in the UAE than in any other Gulf country during the fourth quarter of 2008, according to a survey by the UK-based bank HSBC.
Inflation in Morocco reaches highest level for five years

20 January 2009, 12:17 GMT
Inflation in Morocco has reached its highest level in five years, according to the official statistics agency, the Haut-Commissariat au Plan.
Dubai Financial Market revises trading limits for local companies

19 January 2009, 13:20 GMT
The Dubai Financial Market (DFM) has revised the list of local quoted companies which are allowed to rise or fall by 15 per cent in a single trading session, rather than the 5 per cent range which most firms are restricted to.
Abu Dhabi Securities Exchange reports big increase in trading

19 January 2009, 12:31 GMT
The value of shares traded on the Abu Dhabi Securities Exchange (ADX) increased by 32 per cent during 2008, according to figures published by the exchange on 18 January.
Maroc Telecom revenues climb 7 per cent

19 January 2009, 12:11 GMT
Maroc Telecom posted a 7 per cent jump in group revenues in 2008, according to the company's latest financial results published on 19 January.
Value of mergers in the Middle East plunges in slowdown

19 January 2009, 5:47 GMT
Number of deals rises but average value falls to its lowest level since 2005 as credit crunch hits region.
Former Algerian president rules himself out of April election

16 January 2009, 13:35 GMT
Algeria's former president, Liamine Zeroual, has ruled himself out of the upcoming presidential election, leaving the incumbent Abdelaziz Bouteflika without a heavyweight opponent.
Tehran delays sale of stake in state telecoms firm

16 January 2009, 13:15 GMT
Iran's state-owned telecoms company, Telecommunications Company of Iran (TCI), has delayed the sale of a 21 per cent stake to a foreign investor until after March.
New year, new misery for regional exchanges

15 January 2009, 13:56 GMT
The major Arab stock markets all plunged this week, following markets in the North America and Europe that were hit by weaker-than-expected economic data from the US.
Vodafone Qatar expects approval for stock market listing within weeks

15 January 2009, 13:08 GMT
Vodafone, the UK telecoms operator, expects the Qatari authorities will give the go-ahead for the initial public offering (IPO) of shares in its Vodafone Qatar subsidiary within the next few weeks.
Orascom Telecom appoints deputy chairman

15 January 2009, 12:00 GMT
Naguib Sawiris, chairman and chief executive of Orascom Telecom, has appointed a new deputy to help turn around the financial performance of the telecoms firm.
Syria considers allowing majority ownership by foreign companies

14 January 2009, 13:44 GMT
Syria is contemplating allowing foreigners to own majority stakes in companies, according to Adeeb Mayaleh, the governor of the Central Bank of Syria.
Etihad Atheeb prepares to list on Riyadh stock market

14 January 2009, 13:31 GMT
Saudi Arabia will hold its first initial public offering (IPO) since the start of the financial crisis when shares are offered in fixed-line telecoms operator Etihad Atheeb Telecommunication Company on 24 January.
Shuaa Capital postpones meeting to extend convertible notes

14 January 2009, 12:22 GMT
Shuaa Capital, a Dubai-based investment bank, has postponed an extraordinary general meeting which had been called to extend a AED1.5bn ($410m) debt, after failing to get 75 per cent of its shareholders to attend.
Cairo struggles to stimulate economic growth

11 January 2009, 7:34 GMT
With its economy closely tied to Europe, Egypt's plans for reform could be derailed by the downturn.
Banks seek compliance with Basel II

21 December 2008, 12:29 GMT
Four of Iran’s six private sector banks have published their capital adequacy ratios as a first step towards their eventual compliance with Basel II, the international banking regulation standard.
Amman delays sale of third-generation mobile licence

21 December 2008, 11:46 GMT
Amman is to postpone the sale of a third-generation (3G) mobile phone licence after Jordan’s largest incumbent operator, Kuwait’s Zain, objected to the minimum price set by the regulator.
Saudi Telecom prepares $10bn fund for licence acquisitions

21 December 2008, 10:30 GMT
Operator is in a strong position ahead of a series of awards planned for 2009.
Region launches telecoms licensing round

21 December 2008, 8:57 GMT
A raft of mobile licences are to be auctioned in 2009, but operators face a financial crunch.
Mobile giants will dominate

21 December 2008, 7:49 GMT
Two operators look ideally positioned to benefit from the difficult financial markets: Saudi Telecom and the UAE’s Etisalat.
Kuwait market falls after bank misses debt payment

18 December 2008, 12:55 GMT
The financial crisis claimed a second victim in Kuwait's banking sector when Global Investment House, an investment bank, missed a debt repayment on 16 December.
Emaar awarded $100m social housing development in Cairo

18 December 2008, 11:40 GMT
Emaar, the UAE's largest real estate developer, has won a $100m contract to develop and project manage a social housing project in Cairo.
Attijariwafa Bank launches $250m bond issue

17 December 2008, 12:55 GMT
Morocco's Attijariwafa Bank is to launch a MAD2bn ($250m) 10-year bond issue in late December.
Lebanon postpones telecoms privatisation

17 December 2008, 12:09 GMT
The Lebanese government has postponed the privatisation of its two state-owned mobile phone networks until after parliamentary elections in May 2009.
Khatami attacks Ahmadinejad's spending plans

16 December 2008, 12:07 GMT
Mohammad Khatami, the president of Iran between 1997 and 2005, has attacked Mahmoud Ahmadinejad's spending plans, saying they threaten the economic wellbeing of many Iranians.
Shuaa Capital receives Tadawul authorisation

16 December 2008, 11:47 GMT
The UAE's Shuaa Capital has received authorisation to act as a broker on Saudi Arabia's Tadawul, the region's largest stock exchange.
Capital markets enter period of consolidation

16 December 2008, 0:00 GMT
While the next 12 months will be difficult for the region’s listed firms, the strongest will emerge fitter.
Two Tadawul-listed Saudi companies complete rights issues

15 December 2008, 12:54 GMT
Two companies listed on the Saudi stock market, the Tadawul, completed rights issues on 14 December.
Tunisian inflation falls further below government forecast

15 December 2008, 12:04 GMT
Tunisia's rate of inflation has fallen to 4.3 per cent for the year to the end of November, taking it further below the government's forecast rate of 5 per cent for 2008.
Foreign investors exit local bourses

12 December 2008, 12:30 GMT
Institutional investors have withdrawn $507m from Middle East and North African markets since August.
The time will come to reinvest in regional markets

12 December 2008, 11:45 GMT
The only major market in which investors have remained confident is the Doha Securities Market. The vote of confidence in regional stock markets has been unambiguous. Middle East and North Africa (Mena) funds have almost halved their exposure to the region’s three largest markets over the past six months.
Orascom Telecom debt downgraded

11 December 2008, 16:01 GMT
Orascom Telecom had its debt downgraded in early December because the business is highly leveraged, according to a statement from ratings agency Standard & Poor's on 11 December.
Sotrapil cancels Tunisian oil pipeline project

11 December 2008, 15:06 GMT
Tunisia's La Societe de Transport des Hydrocarbures par Pipelines (Sotrapil) has cancelled a project to build a pipeline carrying refined oil from the country's coast to its interior.
Tunisiana banned from bidding for third telecoms licence

10 December 2008, 17:48 GMT
Tunisiana, Tunisia's largest mobile phone operator, has been barred from bidding for the country's third telecoms licence, which includes a fixed-line licence that it could use to compete with the state operator Tunisie Telecom.
Raya launches $70m property development in Jordan

10 December 2008, 16:35 GMT
Raya Development and Investment, a Saudi Arabian developer, has started work on its JD50m ($71m) Raya Seaside Residence in the Jordanian city of Aqaba on the Red Sea coast.
Private equity investments in the Gulf to increase

10 December 2008, 15:45 GMT
International private equity firms will dramatically increase their exposure to the Middle East within the next three years, according to a poll of private equity investors around the world.
Morocco: Petroleum pricing consultancy contract

9 December 2008, 17:32 GMT
Consulting services for petroleum pricing rules, financed by the World Bank. Closing date: 19 December 2008.
Morocco gets $78m grant for road construction

9 December 2008, 16:43 GMT
Morocco is to receive €60m ($77.5m) from the European Investment Bank (EIB) to build 700km of roads in isolated areas of the country.
Moroccan bourse regulator eases share buyback rules

9 December 2008, 15:58 GMT
Morocco's stock market regulator has relaxed regulations governing share buybacks by companies.
China and Russia express interest in Iranian telecoms firm

8 December 2008, 16:14 GMT
Investors from China, Russia and Indonesia have expressed interest in acquiring a stake in Telecommunications Company of Iran (TCI), according to Davoud Zareian, a spokesman for the Iranian state-owned telecoms operator.
Tunisia to auction combined fixed-line and mobile phone licence

8 December 2008, 15:52 GMT
Tunisia's government will auction a combined fixed-line and mobile phone licence in the second quarter of 2009, making it the latest of a series of Middle East countries seeking to raise money by licensing more operators.
Saudi Telecom reports rival over international call rate

5 December 2008, 18:16 GMT
Operator questions legality of low tariff offered under Zain’s One Network deal.
Iraqi regulator to face challenge over fines

5 December 2008, 18:11 GMT
Kuwaiti operator Zain and Qatar’s Qtel are challenging the decision by Iraq’s telecoms regulator to fine them for breaking the terms of their mobile phone licences.
Alfa chief executive officer steps down in Lebanon

5 December 2008, 17:57 GMT
The chief executive officer of mobile phone operator Alfa has stepped down amid government accusations that the firm has mismanaged the network.
Egyptian regulator to be launched by March

5 December 2008, 17:41 GMT
Egypt’s Investment Minister Mahmoud Mohieldin expects the country’s new financial services regulator to be launched by March 2009, as the draft legislation for its creation is poised to be approved by parliament.
Competition in mobile phone market will benefit Saudis

5 December 2008, 16:47 GMT
Healthy competition has become acrimonious after Saudi Telecom took Zain to the regulator.
Gulf markets stabilise after Lehman crisis

4 December 2008, 18:13 GMT
The Middle East's major stock markets all climbed this week for the first time since the collapse of Lehman Brothers on 15 September.
Ailing Kuwaiti bourse needs transparency

4 December 2008, 14:51 GMT
Kuwait’s bid to shore up its exchange is doing little to tackle the underlying weaknesses of its stocks.
Majan to offer mobile phone services

3 December 2008, 17:48 GMT
An Omani company has become the Middle East's first virtual network operator (VNO), which is a firm that uses the network of an existing telecoms operator to sell its own mobile phone services.
Saudi Telecom starts mobile phone services in Kuwait

2 December 2008, 16:59 GMT
Saudi Telecom's first venture into another Middle Eastern country, its new Kuwaiti operation Viva, will start mobile phone services on 3 December.
Zain, Asiacell and Korek to face fines in Iraq

28 November 2008, 19:44 GMT
Quality of services breached the conditions of licences won by mobile operators in 2007.
Lebanese unity government forces Alfa to abandon mobile network

28 November 2008, 18:43 GMT
Advisory board criticises services provided by joint venture operator.
Operators in the region must pay penalty for breaching licence conditions

28 November 2008, 17:16 GMT
Regulators are toughening their stance on telecoms operators for breaching licence conditions.
Regional bourses lose value as financial crisis continues

27 November 2008, 16:51 GMT
Prince al-Waleed is not the only Saudi investor to believe in Citigroup. When the US government announced the bail-out of its largest bank on 24 November, Saudi Arabia's benchmark equities index, the Tasi, gained 6.2 per cent, its largest one-day gain since 14 October. Unfortunately for the kingdom's investors, the gain on 24 November was an illusion. The Tasi fell during both the subsequent trading sessions. It finished down 9.4 per cent over the week at 4,424.
Jordan to auction fourth mobile phone licence in 2009

27 November 2008, 14:33 GMT
Jordan will auction a fourth mobile phone licence in January 2009, according to a statement from the Telecommunication Regulatory Commission (TRC) on 26 November.
Regulator calls for Moroccan bourse chief to be dismissed

26 November 2008, 16:30 GMT
Morocco's capital markets regulator has called for the head of the country's stock exchange to be sacked for mistakenly sending classified information to traders.
Saudi Telecom to launch Kuwait mobile phone services in December

26 November 2008, 14:27 GMT
Saudi Telecom expects to launch mobile phone services in Kuwait in the second week of December, its first expansion into another Middle Eastern country.
Regulator extends bid deadline for Bahraini mobile licence

25 November 2008, 15:56 GMT
Bahrain's telecoms regulator has extended the deadline for bids for the country's third mobile phone licence by six weeks, in the hope that financial markets will improve.
Kuwait government resigns to avoid parliamentary questioning

25 November 2008, 15:40 GMT
Kuwait's government has submitted its resignation in a bid to avoid questioning of Prime Minister Nasser al-Mohammed al-Ahmed al-Sabah by parliament.
UAE to manage merger of Amlak and Tamweel

24 November 2008, 16:34 GMT
The UAE's Finance Ministry has announced that Dubai's two largest listed home finance companies, Amlak Finance and Tamweel, will merge in the first sign of significant consolidation in the emirate's real estate sector.
Tehran bourse chief to outline market strategy

24 November 2008, 15:32 GMT
The Tehran Stock Exchange's new managing director will set out his strategy for the market before the end of November, according to a spokeswoman at the Iranian bourse.
Spending spree is not the solution

21 November 2008, 21:29 GMT
The central bank could restore confidence more quickly by enforcing stringent disclosure.
Listed telecoms firm hit with 40 per cent charge on profits in Iran

21 November 2008, 20:45 GMT
Tehran will levy a 40 per cent charge on profits at Telecommunications Company of Iran (TCI) until March, despite expectations that the fee would be waived after the company was partially privatised earlier this year.
Kuwait bourse rescue fails to impress investors

21 November 2008, 20:18 GMT
International financiers remain cautious of Kuwaiti stocks despite government intervention.
Zain: MEED Assessment

20 November 2008, 20:58 GMT
Africa offers huge long-term potential, but in the near term, its Saudi Arabian business represents the greatest challenge
Zain

20 November 2008, 20:22 GMT
The launch of the Kuwaiti telecoms operator’s Saudi operation is the latest step in its expansion strategy.
Kuwait shuts bourse as retail investors panic

20 November 2008, 16:06 GMT
The Kuwait Stock Exchange had a rare four-day week after a judge ruled to close the bourse on 13 and 16 November following a lawsuit from disgruntled traders and retail investors.
Orascom Telecom sells subsidiary to Abu Dhabi Investment Company

20 November 2008, 14:33 GMT
Orascom Telecom, the Egyptian mobile phone operator, has sold one of its a subsidiaries to Abu Dhabi Investment Company, an asset manager owned by the UAE federal government.
Qtel wins fixed-line phone licence in Oman

19 November 2008, 16:56 GMT
Qtel, the Qatari telecoms operator, has won the second fixed-line phone licence in Oman with an undisclosed bid, according to a statement the firm made to the Doha Securities Market.
Sovereign wealth fund buys shares on Kuwaiti bourse

19 November 2008, 16:33 GMT
Kuwait's sovereign wealth fund will buy 10 per cent of shares listed on the Kuwait Stock Exchange in a move to prevent retail investors from panicking and restore stability to the market .
Sudatel profits fall 52 per cent

18 November 2008, 15:39 GMT
Sudatel, Sudan's former state-owned telecoms operator, reported a 52 per cent decrease in net profits in the three months to the end of September after the company's auditors required the company to write off the cost of acquiring customers over a period of three years rather than five.
Orascom Telecom reports 76 per cent decrease in profits

18 November 2008, 15:11 GMT
Orascom Telecom, Egypt's largest telecoms company, announced that net profits had fallen by 76 per cent in the three months to the end of September.
Global Investment House gets approval for three funds in Saudi Arabia

17 November 2008, 15:20 GMT
Global Investment House, the Kuwaiti asset manager, has received approval for three funds managed by its Saudi subsidiary, Global Investment House Saudia.
Zain appoints new chief in Kuwait

17 November 2008, 15:00 GMT
Zain, the giant Kuwaiti telecoms operator, has appointed a new chief executive officer of its mobile phone business in its home market.
Regional mobile phone markets face slowdown

7 November 2008, 18:14 GMT
Growth in Saudi Arabia, the UAE, Egypt and Morocco will fall to single digits in 2010.
Du high-speed internet launch ends Etisalat monopoly in UAE

7 November 2008, 17:51 GMT
Emirates Integrated Telecommunications Company, which trades as Du, will start selling high-speed internet services across the UAE from the end of 2009 at the earliest, according to Osman Sultan, chief executive officer at Du, ending Etisalat’s monopoly.
Tom Healy on Abu Dhabi Securities Exchange expansion plans

7 November 2008, 11:14 GMT
A global market downturn will not distract the Abu Dhabi bourse from executing its long-term expansion plans.
Bouteflika seeks to extend his tenure in Algeria

6 November 2008, 18:22 GMT
Changes to Algeria’s constitution are likely to be pushed through parliament to allow the president a third term in office.
Investor concerns hit Kuwait bourse

6 November 2008, 17:25 GMT
The Kuwait Stock Exchange lost 1.3 per cent recently as retail investors remained concerned that smaller listed investment groups would reveal poor third-quarter earnings.
Maroc Telecom reports 7 per cent growth in profits

6 November 2008, 16:42 GMT
Maroc Telecom increased its net profits by 7 per cent to MD3.8bn ($440m) in the July to September quarter.
Bahrain postpones bid deadline for third mobile licence

5 November 2008, 17:41 GMT
Bahrain's telecoms regulator has postponed the deadline for bids for the country's third mobile phone operator until 3pm on 30 November.
Qtel increases customer numbers by a third

5 November 2008, 17:17 GMT
Qtel, the Qatari mobile phone operator, has seen customer numbers across its Middle East operations grow by 34 per cent over the past year to 19.2 million, with Algeria the fastest growing market.
Iran studies proposals for third mobile phone operator

4 November 2008, 16:52 GMT
Iran's telecoms regulator is to announce the winning technical bid for the country's third mobile phone licence at the end of November.
Jordan Telecom grows mobile and internet business

4 November 2008, 16:17 GMT
Growth in mobile phone and internet services has offset a fall in fixed-line revenues at Jordan Telecom in the third quarter.
Omantel increases profits by 29 per cent

3 November 2008, 16:02 GMT
Omantel, the state-owned mobile phone and fixed-line operator, has increased net profits by 29 per cent.
Du reveals net profit of $8m

3 November 2008, 15:21 GMT
Emirates Integrated Telecommunications Group, which trades as Du, has generated its first net profit since its incorporation in December 2005. Du produced a net profit of AED31m ($8.4m) in the July to September quarter on revenues of AED1.06bn.
Gulf mergers and acquisitions hold steady

31 October 2008, 20:02 GMT
Gulf bankers maintain volume of deals, but the value of work undertaken tumbles as markets tighten.
Receiver closes in on Consolidated debt

31 October 2008, 19:57 GMT
High Court of England & Wales appoints accountant to collect $65m from contractor’s Middle East clients.
Emaar dominates trading on Dubai Financial Market

30 October 2008, 16:24 GMT
Emaar, the UAE's largest real estate developer, dominated trading on the Dubai Financial Market (DFM) over the past week, accounting for 45 per cent of trading as it fell 11 per cent to close at AED5.34 ($1.45) a share.
Morocco starts auction for third mobile phone licence

30 October 2008, 13:08 GMT
Morocco's telecoms regulator has started the auction process for the kingdom's third mobile phone licence, which is likely to attract interest from regional and international telecoms operators.
US hedge fund buys 12 per cent of Shuaa Capital

29 October 2008, 17:20 GMT
US hedge fund Passport Capital has increased its stake in Shuaa Capital, a UAE-based investment bank and brokerage, to more than 12 per cent.
Bouteflika calls for constitutional change to allow third presidential term

29 October 2008, 16:42 GMT
Algerian President Abdelaziz Bouteflika has called for the country's constitution to be rewritten in a way that would allow him to stand for a third term in the next presidential elections, due in April 2009.
Batelco puts overseas expansion plan on hold

28 October 2008, 13:03 GMT
Batelco, the listed Bahraini telecoms operator, has put its overseas expansion on hold while it tries to identify the best new markets in India and Africa.
Gulf Bank's rating under review

28 October 2008, 11:52 GMT
Kuwait's Gulf Bank has been placed on review for a possible downgrade by US-based credit ratings agency, Moody's Investors Service.
Qatar to give fixed-line licence to Vodafone

27 October 2008, 16:59 GMT
Qatar's telecoms regulator has confirmed that it will give Vodafone Qatar the second fixed-line licence before the end of 2008.
Capital raised from Gulf initial public offerings falls 23 per cent

27 October 2008, 16:40 GMT
Gulf companies raised $3.6bn through initial public offerings (IPOs) in the third quarter of 2008, down 23 per cent on the second quarter as the credit crunch started to affect regional capital markets.
Etisalat warns of slowing Egyptian economy

24 October 2008, 23:05 GMT
Etisalat Misr, the Egyptian subsidiary of the UAE telecoms operator, should start making a profit by 2010, despite a slowdown in the economy, the company’s senior executives tell MEED.
Abu Dhabi exchange chief calls for more foreign brokers

24 October 2008, 22:22 GMT
Head of Abu Dhabi Securities Exchange says locals do not ask the right questions.
Dubai financial regulator delays rule revisions

24 October 2008, 22:01 GMT
The Dubai International Financial Centre (DIFC) is to delay new regulations until international bodies agree on how to prevent a repeat of the credit crunch.
US imposes sanctions on fourth Iranian bank

23 October 2008, 16:37 GMT
The US Treasury has imposed unilateral sanctions on a fourth Iranian bank, accusing it of providing financial services to Iran's military.
Cairo bourse crashes in volatile market

23 October 2008, 16:33 GMT
Another week, another stock market crash. This time, it was the Egyptian Exchange's turn to suffer.
Tadawul chief executive defends controversial listings strategy

22 October 2008, 17:06 GMT
The chief executive of Saudi Arabia's stock exchange, the Tadawul, has defended the controversial practice of floating new companies at an arbitrary low price.
Zain's profits increase 7 per cent

22 October 2008, 15:52 GMT
Zain, the Kuwaiti mobile phone operator, generated net profits of $327m in the July to September quarter, up 7 per cent on the same period in 2007.
Dubai bourse trades in dirhams to attract investors

22 October 2008, 15:33 GMT
The Dubai International Financial Exchange (DIFX), the smaller of the city's two stock exchanges, has begun to allow trading in UAE dirhams in an attempt to attract more liquidity to the market from private investors.
Morocco expects growth to slow to 5.8 per cent in 2009

21 October 2008, 15:58 GMT
Morocco's Finance Ministry expects the country's rate of growth to slow to 5.8 per cent in 2009, as fears of a deep and lasting recession in Europe, its main export market, continue to grow.
Dubai Financial Market profits drop 10 per cent

21 October 2008, 13:54 GMT
Dubai Financial Market (DFM) suffered a 10 per cent drop in net profits in the first nine months of 2008.
Etisalat profits increase to $580m

20 October 2008, 17:03 GMT
Etisalat, the UAE telecoms operator, generated AED2.1bn ($581m) of net profits in its third quarter, an 18.5 per cent increase on the same period in 2007.
Amman forecasts fall in budget deficit as revenues rise

20 October 2008, 10:41 GMT
Amman’s budget deficit for 2008 is set to fall following an increase in revenues, a senior official at the Finance Ministry tells MEED.
Cairo moves to protect ailing economy

17 October 2008, 19:45 GMT
Authorities act to protect Egyptian businesses from the worst effects of the global slowdown.
Saudi Telecom to compete with Zain for Omantel stake

17 October 2008, 19:09 GMT
The Middle East’s largest telecoms operator, Saudi Telecom, will compete with Kuwaiti mobile operator Zain in the auction for a 25 per cent stake in Oman’s state-owned operator, Omantel.
Amman forecasts fall in budget deficit as revenues rise

17 October 2008, 17:26 GMT
Amman’s budget deficit for 2008 is set to fall following an increase in revenues, a senior official at the Finance Ministry tells MEED. Test
Cairo needs to find economic balance

17 October 2008, 16:46 GMT
The economic liberals who run Egypt’s government have decided that state intervention is the best way to mitigate the slowdown.
Vodafone Qatar to postpone Doha listing

16 October 2008, 17:46 GMT
The Qatar Financial Markets Authority (QFMA) has rejected Vodafone Qatar's proposed dates for its initial public offering on the Doha Securities Market.
Tasi gains 11.4 per cent as investors regain confidence

16 October 2008, 17:32 GMT
Saudi Arabia's main market index, the Tasi, gained 11.4 per cent this week closing on 15 October at 6,863 points as investors regained their confidence after weeks of turmoil.
Global crisis topples Cairo bourse

16 October 2008, 16:56 GMT
Egypt’s stock exchange has fallen faster than any other in the region during the current downturn.
Rabat to privatise Royal Air Maroc

15 October 2008, 17:39 GMT
The Moroccan government plans to privatise Royal Air Maroc in the largest privatisation campaign in the kingdom since the late 1990s.
Government delays Algerie Telecom privatisation

15 October 2008, 17:08 GMT
The Algerian government has delayed the privatisation of Algerie Telecom, the state-owned fixed-line and mobile phone operator, for two to three years, according to its chief executive officer Moussa Belhamadi.
EU and Morocco to sign trade deal

14 October 2008, 16:35 GMT
The European Union and Morocco expect to reach agreement on a free-trade deal for agricultural produce before the end of 2008, according to a joint statement issued on 14 October.
Union Properties rules out merger talks

14 October 2008, 15:58 GMT
Union Properties, a Dubai-listed real estate company, has ruled out holding merger talks with any of its rivals, according to a statement released by the company to the Dubai Financial Market (DFM) on 14 October.
Iran's non-oil exports increase 10 per cent

13 October 2008, 16:30 GMT
Iran's non-oil exports for the six months to 21 September, the first half of the Iranian year, were up 10 per cent on the same period in 2007 thanks to a tripling in exports of saffron and car parts.
Inflation threatens Jordanian economy

13 October 2008, 16:10 GMT
Jordan's high rate of inflation threatens the stability of the economy and the society, according to Moody's, a US credit ratings agency.
Overseas investors sell stakes in UAE-listed property firms

10 October 2008, 21:09 GMT
Financial turmoil drives foreign investors to move investments to safe havens.
UAE must address structural faults of bourses

10 October 2008, 18:21 GMT
Past weeks prove that, as far equity markets are concerned, the UAE and the West are joined at the hip.
Iranian inflation nears 30 per cent

9 October 2008, 18:09 GMT
Iran's annual inflation rate is close to 30 per cent, according to new figures from the Central Bank of Iran.
Financial crisis hits regional stock markets

9 October 2008, 17:43 GMT
Egypt's Case 30 index suffered its largest ever one-day fall during the past week, dropping by more than 16 per cent on 7 October and finishing 20 per cent down over the week as a whole.
Etisalat to buy stake in Iraq's Korek Telekom

8 October 2008, 17:38 GMT
Etisalat, the UAE telecoms operator, will soon take a stake in Kurdish operator Korek Telecom, according to a statement by Etisalat chairman Mohammad Hassan Omran.
Monetary fund predicts slower Gulf growth in 2009

8 October 2008, 17:07 GMT
The GCC countries will grow less quickly in 2009 than many economists had forecast, according to the International Monetary Fund's (IMF) latest World Economic Outlook.
Cairo bourse suffers biggest fall in history

7 October 2008, 16:34 GMT
Egypt's Case 30 index suffered its largest one-day fall since its inception in January 1998, dropping 16 per cent on 7 October to finish the day at 5,897 points.
Amman links salaries to inflation to control deficit

7 October 2008, 15:52 GMT
Jordan's Finance Ministry has confirmed that the country's 600,000 civil servants and members of the armed forces will receive pay rises at the same rate as inflation in 2009.
Algeria protects economy from global financial crisis

6 October 2008, 16:03 GMT
The Algerian economy is protected from the turmoil in world financial markets because it has reduced its debt and built up foreign currency reserves, according to Finance Minister Karim Djoudi.
Property firms' shares plunge as foreign funds sell shares

6 October 2008, 15:38 GMT
Dubai's largest listed real estate developers suffered double-digit falls in their share prices on 6 October, as the market processed a backlog of sell orders from foreign funds.
Global financial crisis highlights weak markets

26 September 2008, 19:49 GMT
When the hysteria dies down, the contrast between the region’s healthy and sickly markets will be evident.
Investment funds exit Cairo exchange as shares tumble

26 September 2008, 19:23 GMT
Fears over weakening domestic economy drive away investors.
Qtel and Noor bid for second fixed-line operating licence

26 September 2008, 17:40 GMT
Qatari telecoms operator Qtel and Kuwaiti conglomerate Noor Financial Investment tell MEED they have submitted bids for the second fixed-line telecoms licence in Oman.
Riyadh tops foreign investment survey

26 September 2008, 17:30 GMT
Moves to remove barriers reaps dividends with an additional $6bn coming into the kingdom in 2007.
Foreign investors back Gulf bourses

26 September 2008, 10:15 GMT
Overseas investment has flooded into Middle East funds this year despite falling markets.
Lebanon set to decide on privatisation of mobile networks

25 September 2008, 17:48 GMT
Lebanon's fractious political parties are expected to decide whether to proceed with the privatisation of the country's two mobile phone networks before the end of September, according to the head of the Telecommunications Regulatory Authority (TRA).
Region's markets diverge as financial turmoil continues

25 September 2008, 17:03 GMT
The region's financial markets diverged this week, as investors returned to some markets while continuing to punish the two that have already suffered the worst from the global downturn: the Cairo & Alexandria Stock Exchanges (Case) and Saudi Arabia's Tadawul.
Foreign investment in the region reaches $94bn

24 September 2008, 16:45 GMT
Foreign direct investment (FDI) in the Middle East and North Africa reached $94bn in 2007, up from $87bn the previous year, as key economies made it easier for foreign companies to do business.
Regulator fines Shuaa Capital $1m for market abuse

24 September 2008, 16:15 GMT
Shuaa Capital, the UAE bank, has been fined almost $1m for market abuse in one of the UAE's largest investigations into malpractice in financial markets.
Algeria receives $1bn in foreign investment

23 September 2008, 15:49 GMT
Algeria generated an estimated $1bn of net foreign direct investment during the first half of 2008, according to the governor of the central bank.
Jordan to receive $3bn grant from US

23 September 2008, 15:07 GMT
Jordan will get $3.3bn in a grant from the US government over the next five years, in a development that will help secure the country's finances in the medium term.
Inflation in Morocco falls to 4.8 per cent

22 September 2008, 16:34 GMT
Morocco's rate of inflation fell to 4.8 per cent in the 12 months to the end of August, according to the country's statistics body, the High Planning Commission.
Iran central bank governor resigns after rates decision

22 September 2008, 16:04 GMT
Tahmasb Mazaheri, the governor of the Central Bank of Iran,has resigned days after he went against official government policy, by allowing banks to increase the interest rates that they pay on deposits.
MTN

19 September 2008, 12:07 GMT
The South African telecoms operator is winning market share in the Middle East but profits remain elusive.
MTN: MEED Assessment

19 September 2008, 12:07 GMT
MTN seeks profit to match the scale of operations in the Middle East
Q&A: Phuthuma Nhleko, CEO and President, MTN

19 September 2008, 12:07 GMT
MTN is looking for clear licence conditions as it considers bids in the Middle East
Tehran bourse resilient amid market turmoil

18 September 2008, 15:22 GMT
For most of the Gulf, the aftermath of Lehman Brothers' decision to file for bankruptcy protection heaped further problems on equity markets, which have already experienced a miserable summer. The Tehran Stock Exchange, however, had a good week climbing 0.8 per cent to finish at 47,107 points. Iranian government plans to list further state-owned enterprises have consistently helped the benchmark Tedpix index climb since the beginning of the current Iranian year in March.
Jordanian development area attracts investors

18 September 2008, 12:54 GMT
Jordan has attracted eight private sector companies to invest in a new development area in its easterly desert province of Mafraq, which borders Iraq.
Sawiris to boost stake in Orascom Telecom

17 September 2008, 17:27 GMT
The Sawiris family is to buy£E800m ($146m) of shares in Orascom Telecom, the Egyptian telecoms operator that it controls.
Dubai regulator appoints new chief executive

17 September 2008, 16:42 GMT
The regulator of Dubai International Financial Centre (DIFC) has appointed a new chief executive officer who will replace the incumbent David Knott in December.
Central Bank of Iran allows banks to raise savings rates

16 September 2008, 15:26 GMT
The Central Bank of Iran has allowed the country's banks to increase their deposit rates in a move designed to curb runaway inflation, which reached 27.6 per cent for the 12 months to 21 August 2008.
Noor Financial Investment to bid for Lebanese mobile network

16 September 2008, 13:06 GMT
Noor Financial Investment, a Kuwaiti industrial conglomerate, has announced that it plans to bid for one of the two state-owned Lebanese mobile phone operators that are expected to be sold off before November 2009.
Vodafone wins fixed-line licence in Qatar

15 September 2008, 16:05 GMT
Vodafone, the UK telecoms giant, has won Qatar's second fixed-line telecoms licence, meaning that it can now sell internet and land-line services alongside mobile phone services.
Gulf markets fall after collapse of Lehman Brothers

15 September 2008, 16:04 GMT
Markets across the Gulf have fallen sharply, following the collapse of Lehman Brothers, one of the largest US investment banks.
Qtel net profits climb 44 per cent

15 September 2008, 15:39 GMT
Qtel, the Qatari telecoms operator, has reported a 44 per cent increase in net profits for the first half of 2008 compared with the same period in 2007.
Syrian Telecommunications Establishment to begin talks over licences

15 September 2008, 11:48 GMT
Negotiations with MTN Syria and Syriatel over conversion of build-own-operate contracts set for December.
Foreign funds increase exposure to the region by $1bn

14 September 2008, 13:55 GMT
Foreign investment funds have boosted their exposure to the largest stock markets in the Middle East and North Africa by more than $1bn in the first seven months of the year, following the downturn in Western bourses.
Tunisian bourse most attractive small equity market in Gulf

11 September 2008, 13:25 GMT
Tunisia's stock exchange is the most attractive small equity market in the Middle East and North Africa, according to US investment bank Citigroup.
Concerns over downturn hit Kuwait and Qatar markets

11 September 2008, 12:54 GMT
This was the week that Kuwait and Qatar, the most resilient markets during the current downturn, were hit by the same fears that have wiped millions from the value of listed companies in Saudi Arabia and the UAE.
Saudi Arabia joins World Bank's list of 20 most open economies

10 September 2008, 11:24 GMT
Saudi Arabia joined the World Bank's list of the 20 most open economies in the world for businesses during 2007.
Oman to award fixed-line licence in October

10 September 2008, 10:50 GMT
Oman's telecoms regulator will announce the winner of the country's second fixed-line licence by the end of October.
Inflation in Iran rises to 27.6 per cent

8 September 2008, 12:45 GMT
Iran's rate of inflation reached 27.6 per cent for the year up to 21 August, according to the latest figures from the Central Bank of Iran.
Dubai regulator orders GFS Investments to pay compensation to customers

8 September 2008, 12:13 GMT
The regulator of Dubai International Financial Centre (DIFC) has ordered a foreign-exchange trading business to pay AED1.8m ($502,000) compensation to its customers.
State firms in Egypt fall behind on governance

5 September 2008, 15:44 GMT
Survey reveals better performance from Egypt’s largest listed companies in 12 out of 16 categories.
Foreigners can raise standards in financial sector

5 September 2008, 14:52 GMT
Hurdles to foreign investment need to be removed if the region’s improving standards are to reach international stock market norms.
GCC firms' landline customers decrease

4 September 2008, 17:32 GMT
GCC telecoms operators experienced a 6.9 per cent drop in the number of fixed-line customers in 2007 because people are increasingly giving up land lines and relying on mobile phones, says a report by Kuwait's Global Investment House.
Saudi bourse drops in value

4 September 2008, 16:53 GMT
Saudi Arabia's Tasi index lost 4.4 per cent in value over the week to finish at 8,505 points, marking the end of a two-week period of rises.
Gulf overhauls financial rulebook

4 September 2008, 13:12 GMT
Countries in the region are reforming their regulatory regimes in a bid to attract multinational firms.
Mobinil launches advanced mobile network

3 September 2008, 18:13 GMT
Egypt's largest mobile phone operator, Mobinil, has launched its 3G network which should help it deal with rapidly rising demand for mobile services.
Jordan continues subsidising household gas

3 September 2008, 16:59 GMT
Jordan will continue to subsidise cylinders of gas used for domestic cooking and heating until at least the end of 2009, according to the Finance Ministry.
Dubai Mercantile Exchange appoints chief executive officer

2 September 2008, 15:55 GMT
Dubai Mercantile Exchange (DME) has appointed Thomas Leaver as its new chief executive officer (CEO) from 1 September.
Orascom Telecom profits decrease 4 per cent

2 September 2008, 15:33 GMT
Orascom Telecom, the Egyptian telecoms giant, suffered a 4 per cent drop in net profits in the first half of 2008, according to its latest financial results.
Mobile phone market slows down in Tunisia

1 September 2008, 16:20 GMT
Tunisia's mobile phone market has slowed dramatically, with an increase of just 4 per cent in the number of customers over the last 12 months, according to the Communication Technologies Ministry.
Survey reveals low standards of corporate governance in Kuwait and Saudi Arabia

1 September 2008, 16:01 GMT
Companies in Kuwait and Saudi Arabia have the lowest standards of corporate governance in the GCC, according to a survey of 581 Gulf companies by UAE bank The National Investor and Hawkamah, a corporate governance thinktank founded by the Dubai International Financial Centre.
Qtel and Zain to bid for Tehran’s third mobile phone licence

29 August 2008, 16:48 GMT
Telecoms operators Qtel of Qatar and Kuwait’s Zain have told MEED that they will both bid for Iran’s third mobile phone licence, responding within hours of the tender being issued.
Eqyptian minister backs single financial regulator

29 August 2008, 16:44 GMT
Draft law to simplify and upgrade rules to be submitted for final parliamentary approval in November.
Tehran needs foreign investors

29 August 2008, 15:35 GMT
For its bourse to prosper in the longer term, foreign investors need to make significant share purchases.
State sell-off boosts Tehran bourse

29 August 2008, 12:26 GMT
A series of privatisations is helping the Tehran Stock Exchange beat the downturn hitting its peers.
Canadian court backs Kuwaiti efforts to seize Iraqi planes

28 August 2008, 18:44 GMT
A Canadian court has granted Kuwait Airways the right to seize aircraft that Iraqi Airways has ordered from Bombardier, a Canadian aircraft manufacturer.
MTN Irancell gains ground on state-owned rival

28 August 2008, 18:14 GMT
MTN Irancell, the Iranian mobile operator owned by South Africa's MTN, has increased its share of Iran's mobile phone market to some 32 per cent.
GCC nationals switch cash to Saudi Arabia

28 August 2008, 17:43 GMT
Investors in Saudi Arabia's Tasi index made a quick return over the past week by cashing in on the Capital Market Authority's decision to allow international investors to buy shares with effect from 23 August.
Tangier Med records 22 per cent rise in passengers

27 August 2008, 17:51 GMT
Morocco's giant Tangier Med, one of the largest ports in the Mediterranean, recorded a 22 per cent jump in the number of passengers using the port during the key August holiday period, compared with the same period in 2007.
Iranian reformists nominate candidate to stand against Ahmadinejad

27 August 2008, 17:07 GMT
One of Iran's reformist political parties has nominated its leader Mehdi Karroubi to stand against President Mahmoud Ahmadinejad in the presidential election expected to take place in June 2009.
Deutsche Bank and Morgan Stanley buy shares on Tadawul

26 August 2008, 16:19 GMT
Deutsche Bank and Morgan Stanley have become the first international investment banks to buy shares listed on Saudi Arabia's Tadawul on behalf of foreign clients.
Sawiris relinquishes role as chairman of Mobinil

26 August 2008, 15:35 GMT
Naguib Sawiris has relinquished his position as chairman of Mobinil, the Egyptian mobile phone operator that is 34.6 per cent owned by the Sawiris-dominated Orascom Telecom.
Single regulator to target market abuse in Qatar

22 August 2008, 17:39 GMT
Rogue traders are currently going undetected, unpunished and undermining investor confidence.
Zain raises concerns over terms of Omantel share sale

22 August 2008, 17:27 GMT
Kuwaiti telecoms giant Zain is expressing reservations over the Oman government’s terms for the sale of a 25 per cent stake in Omantel, the state-controlled fixed-line and mobile phone operator.
Saudi launch will test Zain’s mettle in mobile phone market

22 August 2008, 15:32 GMT
Success of the fledgling subsidiary is critical to the financial health of the group’s entire operations.
Regulator should clean up markets in Qatar

22 August 2008, 15:25 GMT
When it launches, Qatar’s new financial regulator will make pursuing rogue traders a priority.
Competition to reshape Qatar's telecoms market

22 August 2008, 14:32 GMT
Qataris are expected to switch to Vodafone in their droves when it launches a mobile phone service later this year, but its only rival Qtel plans to counter this by cutting tariffs and offering more services.
Maghreb telecoms privatisation plans stall

22 August 2008, 14:26 GMT
Algeria and Tunisia have been slow to open up their national operators to private investors while Morocco is suffering from a lack of competition.
Iraq's Korek lags behind global telecoms operators

22 August 2008, 14:20 GMT
Doubts remain over whether Korek Telecom has the resources to build a nationwide network to enable it to compete effectively with its two powerful international rivals, Zain and Asiacell.
Telecoms giants struggle for Saudi market share

22 August 2008, 14:13 GMT
Saudi Telecom is the most profitable telecoms firm in the region with net profts of $1.8bn in the first half of 2008, but its dominance is set to be challenged by Zain and Etisalat.
IRAN TENDER: Engineering, procurement and construction of a cu-beneficiation plant

21 August 2008, 19:14 GMT
Engineering, procurement and construction of a cu-beneficiation plant for National Iranian Copper Industries Company (NICICO) with a capacity of 17,000 metric tonnes per year. Closing date: 27 August
Tunisian group attracts Canadian government investment

21 August 2008, 18:58 GMT
Tunisia's largest conglomerate, Poulina Group Holding, has attracted investment from a private equity fund set up by the Canadian government.
Saudi surprise helps the Tadawul produce a positive performance

21 August 2008, 18:21 GMT
If the Saudi Arabian authorities thought that shares would go up if they allowed foreign investors into the market, they were right. Saudi Arabia's Tasi index was the only major market in the Middle East to generate a positive return this week, gaining 3.4 per cent over the week.
Dubai regulator strikes deal with Banque de France

20 August 2008, 16:48 GMT
The regulator of Dubai International Financial Centre has signed a memorandum of understanding with the French banking supervisor, the supervision division of Banque de France.
Number of companies on Libyan Stock Exchange to increase by 50 per cent

20 August 2008, 16:16 GMT
Tripoli has given the go-ahead for four companies to float on the Libyan Stock Exchange in a move that will increase the number of companies listed on the market by 50 per cent.
IRAN TENDER: Construction of copper cathode production plant

19 August 2008, 18:03 GMT
Construction of copper cathode production plant for National Iranian Copper Industries Company (NICICO) with a capacity of 100,000 metric tonnes per year. Closing date: 27 August 2008
Fresh spending commitments put pressure on Jordan's budget

19 August 2008, 17:14 GMT
King Abdullah has added to the pressure on the Jordanian government's heavily stretched budget by making new spending commitments of up to JD15m ($21m) during a visit to the southern governorate of Tafileh.
Capital Markets Authority fines insurance company for non-disclosure

19 August 2008, 16:37 GMT
Saudi Arabia's Capital Markets Authority (CMA) has fined a listed insurance company SR50,000 ($13,351) for failing to disclose that it had won a licence to sell insurance products.
Eight operators pre-qualify for Omantel auction

18 August 2008, 15:47 GMT
Eight telecoms operators have pre-qualified for the auction to buy a 25 per cent stake in Omantel, Oman's monopoly fixed-line operator and its largest mobile phone company.
Saudi Telecom to sell shares in Kuwaiti division on 22 August

18 August 2008, 15:29 GMT
Saudi Telecom's new subsidiary in Kuwait will offer 25 per cent of its shares to Kuwaiti investors from 22 August, in advance of its flotation on the Kuwait Stock Exchange later this year.
Foreign company ownership should be allowed

15 August 2008, 17:40 GMT
On 9 August 2007, the financial crisis that would come to be known as the credit crunch hit the European and US financial markets. Almost exactly a year later, on 12 August 2008, the Dubai Financial Market (DFM) become a bear market when its index finished the day at 4,944 points, more than 20 per cent below its peak of 6,291 points on 15 January.
Wataniya internet plan suffers delay

15 August 2008, 16:25 GMT
Wataniya Palestine, a subsidiary of Kuwaiti telecoms operator Wataniya, is still waiting to get the third-generation (3G) spectrum it needs to provide mobile internet services weeks after the Israeli government gave it the second-generation (2G) spectrum to offer basic mobile phone calls.
International investors target undervalued regional shares

15 August 2008, 16:06 GMT
Dubai Financial Market drops almost 20 per cent from its January peak.
TCI telecoms listing fails to meet forecasts

15 August 2008, 15:51 GMT
Share offering for Telecommunications Company of Iran values company at $5bn less than expected.
Telecom Egypt increases net profits despite falling revenues

14 August 2008, 17:03 GMT
Telecom Egypt, the country's monopoly fixed-line operator, increased its net profits by 15 per cent during the first six months of 2008, despite a small decline in revenues.
Regional bourses enter cyclical downturn

14 August 2008, 16:31 GMT
Was this the week that the Middle East's stock markets entered a cyclical downturn? All the major markets lost money with Egypt's Case 30 index registering the largest fall of 7.4 per cent to end the week at 8,223 points. The index has now lost 31 per cent of its value since its peak of 11,935 points on 5 May.
ALGERIA TENDER: World Bank survey of manufacturing companies

13 August 2008, 18:27 GMT
Surveys of companies to identify barriers to regional integration in the Maghreb. Closing date: 1 September 2008.
Panda increases revenues by 46 per cent in Saudi Arabia

13 August 2008, 16:59 GMT
Saudi Arabian supermarket group Panda increased revenues by 46 per cent to SR2.2bn ($586m) in the first half of 2008, as consumers in the kingdom continued to increase their spending.
Drought hits Algerian cereal harvest

13 August 2008, 16:46 GMT
Algeria's cereal harvest will be almost half the size of last year's harvest, according to the Agriculture & Rural Development Ministry, increasing the pressure on the government's budget.
Iran to invest $8.5bn in agriculture after small harvest

12 August 2008, 15:30 GMT
Tehran will invest $8.5bn in agriculture during the current Iranian year, according to the deputy minister of agriculture, Sadeq Khalilian.
Lebanon's parliament approves national unity cabinet

12 August 2008, 15:08 GMT
Lebanon's parliament has approved the cabinet appointed by the new national unity government, after the anti-Syrian March 14 bloc of political parties agreed that Hezbollah could keep its weapons.
Zain to launch $4.5bn rights issue

11 August 2008, 16:01 GMT
Zain, the Kuwaiti mobile phone giant, has announced that its $4.5bn rights issue will be launched on 17 August.
Mobinil net profits fall 18% in second quarter

11 August 2008, 15:44 GMT
Mobinil, the largest mobile phone operator in Egypt, suffered an 18 per cent drop in net profits to£E425m ($80m) over the three months to the end of June, as the cost of supporting its rapid growth in customer numbers hit its profits.
Poor wheat harvest to increase Tehran’s budget deficit

8 August 2008, 16:13 GMT
Tehran’s growing budget deficit will increase further in the second half of 2008 as the government imports wheat for the first time in years, following a poor May harvest as a result of bad weather.
Tehran must swap rhetoric for reality

8 August 2008, 15:53 GMT
With deteriorating finances, Tehran will find it difficult to afford the additional wheat imports it needs.
Terrible week for stock markets makes strong case for summer break

7 August 2008, 16:50 GMT
Every major stock exchange in the region registered substantial losses in early August, lending weight to the old market trader's adage of 'sell in May and go away'.
Work on Amman airport road to begin in September

7 August 2008, 13:06 GMT
Work on the JD71m ($100m) Queen Alia Airport road will begin in September, according to Sami Halasa, secretary general of Jordan's Public Works and Housing Ministry.
Generals overthrow Mauritanian government

6 August 2008, 16:43 GMT
Generals have overthrown Mauritania's government in an armed coup, ending the country's one-year-old democracy.
Maroc Telecom loses majority control of fixed-line market

6 August 2008, 16:20 GMT
Maroc Telecom no longer controls the majority of the fixed-line market in Morocco after its market share fell to 48 per cent because of strong competition from Wana, a rival operator that launched its services just over a year ago.
Iranian telecoms giant to float 5 per cent stake worth $425m

5 August 2008, 16:13 GMT
Telecommunications Company of Iran (TCI), the country's monopoly state-owned operator, will float 5 per cent of its shares on the Tehran Stock Exchange on 9 August, in the market's most keenly anticipated initial public offering to date.
Paltel increases profits by 53 per cent

5 August 2008, 15:50 GMT
Paltel, the monopoly telecoms operator in the West Bank and Gaza, increased its net profits by 53 per cent in the first six months of 2008, as the company enjoyed its fastest growth in years.
Zain increases profits by 400 per cent in Iraq

4 August 2008, 15:45 GMT
Zain, the Kuwaiti telecoms giant, increased its net profits at its Iraqi subsidiary by almost 400 per cent in the first half of 2008.
Wataniya increases profits after Qtel takeover

4 August 2008, 15:30 GMT
Kuwaiti telecoms operator Wataniya has returned to growth with a 66 per cent increase in its net profits to KD25m ($94.7m) between April and June, a year after it was taken over by the Qatari operator Qtel.
Kuwaiti investors want greater clarity

31 July 2008, 18:57 GMT
The saga of capital gains tax for foreign investors is the latest example of regulatory uncertainty.
Jordanian projects run three times over budget

31 July 2008, 18:06 GMT
Spending on the 15 largest government schemes is expected to reach $2.4bn over the year.
Ministry postpones capital gains tax cut

31 July 2008, 17:55 GMT
Government levy of 55 per cent on share sales continues to deter international investors.
Maroc Telecom profits climb 14 per cent

31 July 2008, 17:12 GMT
Maroc Telecom, the monopoly fixed-line telecoms operator in Morocco, increased its net profit by 14 per cent to some MD4.5bn ($610.5m) in the first half of 2008.
Saudi market falls as investors book profits

31 July 2008, 16:42 GMT
The index of Saudi Arabia's listed companies dropped almost 4 per cent during the week to finish at 8,741 points with Saudi Basic Industries (Sabic), the country's largest floated company, again at the centre of the action.
Amman pledges to continue subsidising bread

30 July 2008, 17:26 GMT
The Jordanian government will continue to subsidise bread for the forseeable future, according to Minister of State for Media Affairs and Communications Nasser Judeh.
Tunisian president to stand for fifth consecutive term

30 July 2008, 17:01 GMT
Tunisia's President Zine el-Abidine Ben Ali has announced that he will stand for a fifth consecutive term of office in the 2009 presidential election.
Central Bank of Iran investigates revaluation of currency

29 July 2008, 15:58 GMT
The governor of Iran's central bank has revealed that the government is considering revaluing the currency.
Wataniya Palestine to launch mobile phone services in West Bank and Gaza

29 July 2008, 15:36 GMT
The Israeli government has released the spectrum that will enable mobile phone operator Wataniya Palestine to launch its services in the West Bank and Gaza.
UAE markets regulator gives approval to margin trading

28 July 2008, 12:55 GMT
The UAE's capital markets regulator has given its final approval to new regulations that will allow investors to buy shares using money borrowed from their brokers in a move that the authorities hope will dramatically increase trading volumes.
Zain profits up 4 per cent over the last three months

28 July 2008, 11:35 GMT
Kuwaiti telecoms giant Zain increased its net profit by just 4 per cent over the last three months as the company's struggle to convert revenues into profits continued.
Telecoms regional expansion analysis

28 July 2008, 11:11 GMT
The auction for Kuwait’s third mobile phone licence in November 2007 was an unusual one for the region. For the first time in years, a competitive auction was held without either Etisalat or Zain winning at least one licence.
Etisalat Misr reports fall in growth

25 July 2008, 17:38 GMT
Etisalat Misr will report that it has 4 million customers when it publishes its performance figures in the coming weeks, revealing that the operator is growing at a far slower rate than previous figures had suggested.
Tehran to begin privatisation of TCI in August

25 July 2008, 16:28 GMT
State aims to sell 20 per cent stake in Telecommunications Company of Iran.
Saudi Telecom

25 July 2008, 12:48 GMT
With domestic competition growing, the former monopoly operator has an ambitious expansion strategy
Saudi Telecom: MEED Assessment

25 July 2008, 12:48 GMT
Challenge is on to strengthen customer base as new operators target Saudi Arabia
Saudi Telecom: Regional Expansion Analysis

25 July 2008, 12:48 GMT
Etisalat and Zain stranglehold over mobile phone auctions is ended by Saudi Telecom
Investors react positively to financial results of major firms

24 July 2008, 17:40 GMT
Retail investors across the GCC pushed markets higher after some of the region’s largest companies reported strong financial results.
Du cuts losses in second quarter

24 July 2008, 16:32 GMT
Du, the UAE's second telecoms operator, continued to cut its losses during the April to June quarter, a year after it signed up its first mobile customers.
Jordanian MPs call for more transparent fuel pricing

23 July 2008, 17:18 GMT
Members of Jordan’s parliament have requested that the government becomes more transparent about how it sets the price of petrol, diesel and gas amid growing popular unrest at the rising cost of fuel.
Maroc Telecom increases customer numbers by 21 per cent

23 July 2008, 16:41 GMT
Maroc Telecom has grown its customer numbers in its home market by 21 per cent to 14.2 million over the last year, according to the company’s latest financial results.
Jordan's economic growth to fall to 4.4 per cent in 2008

22 July 2008, 16:17 GMT
Jordan’s economic growth will fall to 4.4 per cent in 2008, increasing the pressure on the already deteriorating public finances, according to a former government minister.
Vodafone Egypt increases number of customers by 38 per cent

22 July 2008, 15:14 GMT
Vodafone Egypt increased its customer numbers by 38 per cent in the April to June quarter, its slowest rate of growth for 18 months.
Saudi Telecom net profits hit $545m in second quarter

21 July 2008, 15:36 GMT
Saudi Telecom’s net profits climbed 24 per cent to reach SR2bn ($545m) between April and June this year.
Etihad Etisalat fails to disclose customer numbers

21 July 2008, 14:33 GMT
Etihad Etisalat, the Saudi subsidiary of the UAE’s Etisalat, has failed to disclose its customer numbers in its latest quarterly financial update, even though it was ordered to do so by the kingdom’s telecoms regulator.
Creation of a single financial regulator faces further delay

17 July 2008, 19:35 GMT
Qatar’s Council of Ministers has delayed the creation of a single financial regulator until September at the earliest, after failing to pass the legislation that would establish the new regulator before the summer break.
Cairo to create single regulator

17 July 2008, 18:41 GMT
Egypt will announce plans to create a single regulator for all financial services companies except banks in the final quarter of the year.
Beirut faces further delay to $6bn telecoms privatisation

17 July 2008, 18:18 GMT
Auction of state-owned mobile networks set to be put back beyond November.
Low trading volumes undermine case for Dubai Financial Market

16 July 2008, 17:00 GMT
Lower than expected trading volumes at Dubai Financial Market could mean it missing its earnings targets in 2008, according to US investment bank Morgan Stanley.
Sorouh and Orascom Construction Industries form joint venture

16 July 2008, 16:10 GMT
Real estate giants Sorouh Real Estate and Orascom Construction Industries have formed a joint venture to carry out below-ground work on towers and other large buildings at Sorouh’s developments in the UAE.
Dubai suspends trading in Shuaa Capital shares

15 July 2008, 15:34 GMT
The Dubai Financial Market has suspended trading in the shares of Shuaa Capital after the bank’s share price climbed 15 per cent in one day, the maximum gain in a single trading session allowed under the market’s regulations.
Foreign grants to Jordan up in first half

15 July 2008, 14:57 GMT
Foreign grants to the Jordanian government soared by 63 per cent to JD126.2m ($178.3m) during the first five months of the year, according to the Finance Ministry.
Amman to give control of Sudan investment to private firm

14 July 2008, 16:09 GMT
Jordan’s Agriculture Ministry will soon appoint a private sector company to manage its substantial investment in farmland in Sudan.
Etisalat profits climb 58 per cent

14 July 2008, 13:31 GMT
Etisalat, the UAE-based telecoms operator, produced sharply higher net profits between April and June this year, according to the company’s second quarter financial results.
Morocco's budget deficit set to double

11 July 2008, 16:51 GMT
Morocco's budget deficit will double in 2008 as the government shields its population from rising oil and food prices by increasing subsidies, says credit ratings agency Standard & Poor's (S&P).
Regional exchanges follow global markets with a week of losses

10 July 2008, 16:01 GMT
All four of the Middle East’s largest stock exchanges lost ground this week, showing they are not immune to the bear market that has savaged share prices in the US and Europe.
Wataniya Palestine faces delay on receiving spectrum

10 July 2008, 12:21 GMT
Wataniya Palestine, a subsidiary of Qatar’s Qtel, faces a delay from the Israeli authorities before it receives the radio spectrum needed to launch mobile phone services in the West Bank and Gaza.
Opposition groups nominate candidate for Lebanese telecoms minister

9 July 2008, 14:24 GMT
Lebanon’s opposition parties have nominated their own candidate as telecoms minister in the new national unity government, threatening the privatisation of the country’s two mobile phone operators.
Jordan’s economic growth falls short of forecast in first quarter

9 July 2008, 13:58 GMT
Jordan’s economy slowed down more than expected in the first three months of this year, according to the government’s Department of Statistics.
Finance ministry invites interest in Omantel

7 July 2008, 13:32 GMT
Oman’s Ministry of Finance has invited expressions of interest from international telecoms companies interested in acquiring a 25 per cent stake in Omantel, the country’s largest mobile phone operator.
Meditel to invest in Moroccan mobile phone network

7 July 2008, 13:14 GMT
Meditel, the holder of the second mobile phone licence in Morocco, will invest about MAD4.2bn ($573m) in its telecoms network over the next two years.
Jordan's budget deficit rises as food prices soar

4 July 2008, 16:11 GMT
Rising oil and food prices over the first six months of 2008 force Amman to spend more on subsidies.
Tadawul joins the race to modernise

4 July 2008, 14:44 GMT
The Saudi bourse’s privatisation plans and a new trading platform are set to boost investor confidence.
Abu Dhabi market benefits from speculation by retail investors

3 July 2008, 17:36 GMT
The Abu Dhabi Securities Exchange (ADX) gained 2.5 per cent over the past week after retail investors pushed up the price of a handful of stocks.
France Telecom seeks partnership with incumbent operator in Algeria

3 July 2008, 15:59 GMT
France Telecom says it is hoping to form a partnership with one of the three mobile phone operators in Algeria, rather than bid for its own licence.
Etisalat and France Telecom commit to joint investments

2 July 2008, 19:13 GMT
Etisalat, the UAE telecoms giant, and France Telecom have agreed to a range of joint investments in infrastructure, broadband technology and video content.
Friendi Mobile gets virtual network licence in Oman

2 July 2008, 18:50 GMT
Friendi Mobile, a UAE-based telecoms operator, has won a licence to operate a virtual mobile phone network in Oman, the first such licence in the sultanate and the company's second in the region.
Saudi Industrial Services wins approval for rights issue

1 July 2008, 15:58 GMT
Saudi Industrial Services has won approval from the Capital Markets Authority to raise SR322m ($85.9m) in a rights issue.
Dubai bourse moves to Nasdaq-OMX trading platform

1 July 2008, 15:37 GMT
Dubai International Financial Exchange (DIFX) has become the latest stock exchange in the region to move to a trading platform built by Nasdaq-OMX, the US-Swedish financial markets group.
Jordan Telecom cuts internet costs by 20 per cent

30 June 2008, 16:59 GMT
Jordan Telecom, the monopoly fixed-line telecoms operator in Jordan, has cut the cost of wholesale internet access by 20 per cent.
Vodafone Qatar to float on Doha market by October

30 June 2008, 16:04 GMT
Vodafone Qatar, the holder of the second mobile phone licence in Qatar, will float 40 per cent of its shares on the Doha Securities Market by the end of October.
Etihad Etisalat to reveal fall in mobile phone customers

27 June 2008, 17:51 GMT
Etihad Etisalat, the Saudi subsidiary of UAE telecoms giant Etisalat, will report a fall in its customer numbers when it updates investors on its financial performance in July.
Doha bourse deal increases competition

27 June 2008, 17:40 GMT
Competition between regional stock markets is likely to increase in the wake of the latest partnership deal by US stock exchange operator NYSE Euronext, according to industry observers.
Regional Etisalat: Six key people

27 June 2008, 15:53 GMT
The six most powerful people at the UAE-based telecoms operator: Mohammad Hassan Omran, Mohammad al-Qamzi, Jamal al-Jarwan, Khaled al-Kaf, Gamal Sadat and Salem Ali al-Sharhan.
Gamal Sadat

Issue No 26 27 June - 3 July 2008
One of the most powerful people at the UAE-based telecoms operator
Jamal al-Jarwan

Issue No 26 27 June - 3 July 2008
One of the most powerful people at the UAE-based telecoms operator
Khaled al-kaf

Issue No 26 27 June - 3 July 2008
One of the most powerful people at the UAE-based telecoms operator
Mohammad al-Qamzi

Issue No 26 27 June - 3 July 2008
One of the most powerful people at the UAE-based telecoms operator
Salem Ali al-Sharhan

Issue No 26 27 June - 3 July 2008
One of the most powerful people at the UAE-based telecoms operator
Omantel agrees on $205m loan facility

25 June 2008, 18:35 GMT
Omantel, the largest mobile operator in Oman, has agreed on a $205m credit facility in its first major attempt to finance itself using the debt markets.
Etihad Etisalat buys Saudi internet service provider

25 June 2008, 17:55 GMT
Etihad Etisalat, Saudi Arabia's second mobile phone provider, has acquired internet service provider Zajil for SR85m ($22.7m).
Orascom receives $1.2bn for Iraq business

24 June 2008, 15:51 GMT
Orascom Telecom, the Egyptian telecoms company, has received $1.2bn from the Kuwaiti firm Zain for its Iraqi business Iraqna.
US bourse to buy stake in Doha Securities Market

24 June 2008, 10:55 GMT
The US stock exchange group NYSE Euronext is to buy a 25 per cent stake in the Doha Securities Market for $250m.
Qtel edges closer to takeover of Indonesian phone operator

23 June 2008, 17:26 GMT
Qtel, the Qatari telecoms company, says it plans to acquire a majority stake in Indonesia's second-largest mobile phone operator after completing the acquisition of a 40.8 per cent stake of PT Indosat in a $1.8bn deal on 23 June.
Amman owes more to local banks after paying foreign debt

23 June 2008, 16:59 GMT
The Jordanian government has increased the amount it owes its largest banks after it paid off a $2.4bn debt to foreign governments using loans from its domestic banking sector.
Case's Maged Shawky on improving standards

20 June 2008, 19:12 GMT
The Egypt bourse chief is delisting companies in an effort to improve standards.
Sabic gains after expansion into China

20 June 2008, 18:33 GMT
Sabic was one of the few winners in a dismal week for the Middle East’s largest stocks.
Political row in Lebanon stalls plans for privatisation

20 June 2008, 17:28 GMT
Arguments between Lebanon’s pro-Western government and the Hezbollah-led, pro-Syrian opposition party have further delayed the privatisation of the country’s largest state-owned enterprises.
Zain delays launch of Saudi mobile services for testing

20 June 2008, 16:57 GMT
Zain, the Kuwaiti mobile phone operator, has delayed its launch in Saudi Arabia until Septem-ber to give it further time to test the network.
Dubai World launches sharia funds

20 June 2008, 16:43 GMT
Dubai World has invested $250m in five hedge funds to launch its own asset management business.
Privatisation will benefit Cairo bourse

20 June 2008, 16:18 GMT
Privatising the Cairo bourse will create a source of income that could be used to improve its infrastructure.
Zain Saudi Arabia to miss market share target, says EFG-Hermes

17 June 2008, 16:34 GMT
Zain, the Kuwaiti mobile phone giant, will fail to hit its long-term target for the number of Saudi mobile users it signs up, according to Egyptian investment bank EFG-Hermes.
Kalimat Telecom launches fixed-line service in Iraq

17 June 2008, 15:58 GMT
Kalimat Telecom, a privately-owned Kuwaiti company, has launched a fixed-line network in Iraq, more than a year after it won a licence from the country’s telecoms regulator.
Jordan creates security force to help police

16 June 2008, 17:33 GMT
Amman has set up a new internal security force to take on some of the roles of the kingdom’s police force.
Dubai market attracts first dual listing from US company

16 June 2008, 16:37 GMT
A US technology company has become the first business from outside the Middle East to hold a dual listing on a GCC stock exchange.
Abu Dhabi Securities Exchange: Relaxing rules provides $200bn boost

6 June 2008, 13:48 GMT
A change in the Commercial Law governing listings on the Abu Dubai Securities Exchange is set to lead to a flood of flotations from private companies in the real estate and retail sectors.
Etisalat

6 June 2008, 11:09 GMT
The Middle East’s largest telecoms company is attracting greater scrutiny as it increases in size.
Etisalat: MEED Assessments

6 June 2008, 11:09 GMT
Performance breakdown sheds light on international operations
Q&A: Mohammad Hassan Omran, Chairman, Etisalat

6 June 2008, 11:09 GMT
Telecoms company hopes for expansion in the region
Boom drives upgrade at Cairo bourse

30 May 2008, 16:24 GMT
Egypt’s stock market is to make its expensive move to a new trading platform by July, ahead of a predicted threefold increase in trading activity in 2008.
Deficit grows in Iran despite the boom

30 May 2008, 10:56 GMT
Record oil prices and growing hydrocarbon revenues are failing to prevent the Iranian economy falling further into debt.
Zain increases market share in Iraq and Bahrain

29 May 2008, 18:16 GMT
Zain, the Kuwaiti mobile phone giant, has continued to increase its market share in Iraq and Bahrain, with large increases in the number of customers in both countries during the first quarter of 2008.
Samba leads Saudi market index down

29 May 2008, 17:43 GMT
Saudi Arabia’s second largest bank Samba endured a terrible week on the stock market, falling 11.5 per cent over the five trading sessions.
Sawiris avoids Orascom Telecom share buyback scheme

28 May 2008, 17:08 GMT
Egyptian billionaire Naguib Sawiris will not sell any shares to Orascom Telecom when the company holds its second share buyback programme of the year on 2 June.
Algeria launches auction for 3G mobile phone licences

28 May 2008, 16:26 GMT
The Algerian telecoms regulator has launched an auction for a 3G mobile phone licence by inviting expressions of interest from domestic and foreign companies before 30 June.
Jordan starts work on public housing project

27 May 2008, 15:46 GMT
Jordan will start work in July on the first 20,000 properties in its five-year plan to dramatically increase the supply of public housing in the kingdom.
Vodafone delays Doha initial public offering

27 May 2008, 15:02 GMT
Vodafone, the UK telecoms giant, has delayed the debut of its Qatari subsidiary on the Doha Securities Market by up to five months, according to Qatar’s telecoms regulator ictQatar.
Abu Dhabi bourse seeks $200bn listings

23 May 2008, 17:19 GMT
The Abu Dhabi Stock Exchange (ADX) is aiming to attract com-panies with a combined market capitalisation of at least $200bn within two years, according to its chief executive officer (CEO) Tom Healy.
Cairo brings private sector into education

23 May 2008, 16:58 GMT
The Egyptian government has invited three Indian IT companies to design courses at some of the country's largest universities, in an attempt to supply tens of thousands of graduates a year to the fast-growing IT industry.
Consortium to pay more than $1bn for Qatar licence

23 May 2008, 16:38 GMT
A consortium led by Vodafone, the UK telecoms operator, is to pay more than $1bn for the second mobile phone licence in Qatar.
Korek to invest $400m in national mobile network in Iraq

23 May 2008, 16:30 GMT
Move comes despite ongoing talks with UAE’s Etisalat over joint venture.
Dubai’s underperforming bourse

23 May 2008, 15:03 GMT
The Dubai International Financial Exchange is falling behind its rivals as competition grows.
Gulf Finance House starts work on Moroccan tourism projects

21 May 2008, 15:26 GMT
Gulf Finance House, a Bahraini bank, has started work on two giant tourism projects in Morocco with a combined value of $1.6bn.
Abu Dhabi bourse to list exchange-traded funds

20 May 2008, 15:24 GMT
Abu Dhabi Stock Exchange (ADX) wants to list four new funds on its main market by the end of 2008 in an attempt to boost the value of securities traded on the exchange.
Zain to raise $5bn in two stock market listings

20 May 2008, 9:35 GMT
Zain, the giant Kuwaiti telecoms operator, is planning to raise up to $5bn through a listing on the Bahraini stock exchange in June and a possible second listing on a European stock market in the first half of 2009.
Tecom plans foreign telecommunications investments

19 May 2008, 16:58 GMT
Tecom Investments, the UAE company that was a founding investor in mobile phone operator Du, wants to make two or three telecommunications acquisitions outside its home market during 2008.
GCC family firms slow to adopt professional management structures

19 May 2008, 15:09 GMT
Family companies listed on all seven major GCC stock exchanges have yet to turn their businesses over to boards of professional managers, according to a survey of about 582 quoted companies.
Metro to invest $234m in Egyptian supermarkets

18 May 2008, 13:17 GMT
German supermarket group Metro will invest €150m ($234m) in up to 10 Cash & Carry wholesale stores in Egypt over the next few years.
Telecom Egypt profits fall as customer numbers weaken

18 May 2008, 13:09 GMT
Telecom Egypt, the monopoly fixed-line operator, reported net profits down 4.8 per cent in the first three months of the year compared with the equivalent period in 2007 as it struggled to sign up new customers.
Cairo exchange to delist 100 rule-breaking companies

16 May 2008, 14:39 GMT
Three-year campaign to improve corporate governance enters final stage.
Tehran opens talks over third mobile phone licence

16 May 2008, 14:06 GMT
Government begins discussions with Etisalat over licence and possible sale of a controlling stake in MCI.
Egyptian bourse clean-up should benefit the Case

16 May 2008, 13:26 GMT
When the market experiences a downturn, investors will know the remaining firms will follow the rules.
Increase in fuel prices will exacerbate Egyptian inflation, says EFG Hermes

15 May 2008, 14:25 GMT
The Egyptian government's decision to increase the price of petrol by£E0.50 a litre on 5 May will further exacerbate Egypt's inflation problem, according to investment bank EFG-Hermes.
Algeria delays Algerie Telecom privatisation

13 May 2008, 16:46 GMT
Algiers has delayed the privatisation of Algerie Telecom, says one of the companies planning to bid for a stake in the state-owned operator.
Etisalat delays decision on Bahrain mobile phone licence

13 May 2008, 12:57 GMT
UAE telecoms giant Etisalat has delayed taking a decision about whether to participate in the competition for Bahrain's third mobile phone licence, according to Mohamed Hassan Omran, the chairman of the company.
Tehran rethinks privatisation plans

9 May 2008, 17:05 GMT
Parliament scales back annual target for sell-off of state-owned companies to $5bn from $30bn.
Salama profits to soar as Islamic insurance demand grows

9 May 2008, 16:50 GMT
Salama, the Dubai-based Islamic insurance company, is forecast to grow its net premiums by a third in 2008 on the back of a surge in sharia-compliant insurance, according to market analysts.
Egyptian index needs new privatisations

9 May 2008, 15:55 GMT
The Case 30's rise has been relentless, but investors have not succumbed to hysteria.
Value doubles on Masi as Moroccan property booms

9 May 2008, 14:26 GMT
While key sectors such as telecoms have underperformed, a series of major developments have helped real estate firms increase the value of the Moroccan All-Share index over the past two years.
Egypt's stock exchanges among world's fastest growing

9 May 2008, 14:18 GMT
The Cairo & Alexandria Stock Exchanges have been among the fastest growing stock markets in the world since relaxing the restrictions on foreign investors.
Tasi drops 3 per cent in a week as Saudi woes mount

8 May 2008, 20:24 GMT
Saudi Arabia’s Tasi index of the largest companies listed on the Tadawul plunged 3 per cent this week to pile on the agony for investors.
Iran’s Majlis starts impeachment proceedings against commerce minister

7 May 2008, 17:47 GMT
The Majlis, Iran’s parliament, has started impeachment proceedings against the commerce minister, Massoud Mir-Kazemi.
Misr Arabian Poultry offers $80m for rival chicken producer

6 May 2008, 15:44 GMT
Ismailiya Misr Arabian Poultry has tabled a E£426m ($80m) takeover bid for rival chicken producer Ismailiya Misr Poultry.
The majority of Iranians now have mobile phones

6 May 2008, 15:26 GMT
Most Iranians now have mobile phones, following the fastest growth in customer numbers of any Middle Eastern country during 2007.
Mobile phone privatisation faces delays in Lebanon

2 May 2008, 17:39 GMT
Lebanon is expected to postpone the $6bn privatisation of its state-owned mobile phone operators for a second time when it updates potential bidders on the sale in May, because of the continued political turmoil.
GCC finance chiefs defend progress on corporate governance

2 May 2008, 16:33 GMT
GCC financial markets have hit back at criticism over poor corporate governance and large state shareholdings in listed companies in a report by the City of London Corporation.
South African operator to build $500m network in Sudan

2 May 2008, 16:24 GMT
MTN, the South African telecoms operator, will spend $500m building a mobile phone network in southern Sudan, after winning permission to operate in 10 states run by the breakaway government in Juba.
Reforms will help capital markets mature

2 May 2008, 15:19 GMT
A new report has identified key reforms that Gulf markets must make to reach their potential.
DIFX delists its first company for corporate governance abuse

1 May 2008, 16:54 GMT
Dubai International Financial Exchange (DIFX) delisted a company for breaking its corporate governance rules for the first time in the exchange’s history.
Future Pipe cancels Dubai share offering

1 May 2008, 14:58 GMT
Future Pipe Industries, the UAE-based maker of fibreglass pipes, has cancelled its initial public offering on the Dubai International Financial Exchange (DIFX) on the eve of its flotation.
Emirates Islamic Bank profits up 250 per cent

30 April 2008, 18:01 GMT
Emirates Islamic Bank generated net profits of AED148.6m ($40.5m) in the first three months of the year, up 253 per cent on the same period last year.
Former president warns Ahmadinejad over handling of economy

30 April 2008, 17:42 GMT
One of President Mahmoud Ahmadinejad’s most powerful opponents has warned him to stop his “trial and error” approach to running the economy.
Muscat prepares for auction of second fixed-line licence

29 April 2008, 16:34 GMT
Oman’s telecoms regulator has started the process to award a second fixed-line phone licence, which will end the monopoly of the state-controlled Omantel.
Optimiza to supply computers to Jordan's schools

29 April 2008, 16:05 GMT
Optimiza, a Jordanian systems integrator, has won a contract from the Education Ministry to equip some 1,148 schools with computers and other IT equipment.
Conservatives secure majority in Tehran parliament

28 April 2008, 15:57 GMT
Conservatives have won 69 per cent of the seats in Iran’s parliament, the Majlis, according to Mostafa Pour Mohammadi, the Interior Minister.
Omantel reports strong profits growth

28 April 2008, 15:23 GMT
Omantel, the former telecoms monopoly in Oman, has reported a 60 per cent jump in net profits to RO38.4m ($99.7m) for the first three months of 2008.
Doha links up with London exchange

25 April 2008, 18:57 GMT
The Doha Securities Market is set to sign a co-operation deal with the London Stock Exchange (LSE) in the latest sign of global consolidation among stock markets.
Baghdad reclaims Umm Qasr and prepares $500m sell-off

25 April 2008, 16:52 GMT
Iraqi army seizes deep-sea port from insurgents ahead of privatisation.
Second mobile operator in Qatar faces delays

25 April 2008, 16:44 GMT
The launch of the Qatar's second mobile phone network is facing a setback of several months, because of delays in the government giving approval for the operator's plans.
Tehran should compromise on bond issues

25 April 2008, 16:04 GMT
Bond issues are a thing of the past for Iran, which needs to compromise with its critics if its economy is to progress.
Competition spurs market growth

25 April 2008, 14:46 GMT
Maroc Telecom and Meditel have expanded quickly, but could they do even better in a liberalised market?
MARKETWATCH Sabic and Zain shares drop after disappointing results

24 April 2008, 17:52 GMT
Shares in Sabic, the Middle East’s largest public company, and Kuwaiti telecoms giant Zain dropped after both companies released their results for the first three months of 2008.
Iran loses access to capital markets with withdrawal of rating

24 April 2008, 13:17 GMT
Iran's ability to raise new sovereign debt from international markets has been further weakened with the withdrawal of its rating by Fitch Ratings.
MTN adds 1 million customers a month in Iran

23 April 2008, 17:53 GMT
MTN, the South African telecoms company, signed up 1 million customers a month in Iran in the first quarter of 2008, according to its latest financial results.
Zain maintains revenue lead over Etisalat

23 April 2008, 17:20 GMT
Zain, the Kuwaiti telecoms company, generated KD453m ($1.67bn) of revenues in the first three months of 2008, maintaining its lead over its main regional rival Etisalat from the UAE.
Demand for cheap government homes outstrips supply in Jordan

22 April 2008, 17:23 GMT
More than 240,000 applications have been made for the 120,000 properties that the government will build over the next six years in a JD5bn ($7.1bn) public housing project.
Iran prepares banking joint venture with Oman

22 April 2008, 16:36 GMT
Iran is establishing a bank and an insurance company via a joint venture with Oman to increase trade between the two countries.
Jordan fixes food prices to combat inflation

21 April 2008, 17:03 GMT
Jordan’s Ministry of Industry and Trade has fixed the prices for rice and sugar in an attempt to control rampant inflation in the kingdom.
Saudi Telecom profits rise 11 per cent

21 April 2008, 15:51 GMT
Saudi Telecom’s net profits climbed 10.8 per cent in the first three months of 2008, as the company prepared for the arrival of the third mobile phone operator in June.
Etisalat loses $463m in Egyptian market

18 April 2008, 15:35 GMT
Breakdown of mobile operator's financial performance reveals cost of setting up North African subsidiary
Taxes or cuts will pay for subsidies

18 April 2008, 15:27 GMT
Middle East governments are involved in a delicate but crucial balancing act as they try to avert the crisis over soaring food prices. Recent riots from the Gulf of Aden to the Atlantic coast are a sign of how bad things could get if they make the wrong decisions.
Telecoms firms must be accountable

18 April 2008, 15:10 GMT
Regulators in Egypt and Saudi Arabia are forcing telecoms firms to be more transparent. Watchdogs in other countries and sectors should follow their lead.
Food price rises increase subsidy burden

18 April 2008, 14:59 GMT
States without oil riches or significant agriculture have little option but to continue to subsidise staple foods.
Dubai Financial Market records largest gain over the week

17 April 2008, 18:32 GMT
The Dubai Financial Market recorded the largest gains of any major market in the region during the week, climbing 3.4 per cent over the week to 17 April.
Etisalat profits rise 16 per cent in first quarter in UAE

17 April 2008, 17:04 GMT
Etisalat, the UAE telecoms company, increased its profits by 15.5 per cent in the first three months of this year on the back of continued growth in its domestic market.
Jordan cancels privatisation of two food suppliers

16 April 2008, 17:44 GMT
The Jordanian government has cancelled the privatisation of two food suppliers in an effort to keep control of the distribution of food in the kingdom.
Iran invites contractors to bid for dam project

16 April 2008, 17:03 GMT
Iran’s Ministry of Energy is seeking contractors for a project to build a second giant dam in the mountainous Chaharmahal va Bakhtiari region.
Jordan’s inflation exceeds government forecasts

15 April 2008, 14:14 GMT
The inflation rate in Jordan was 10.8 per cent for the year to the end of March, exceeding the government’s forecast of between 8 and 9 per cent for 2008.
Etisalat signs deal to build fibre optic network in the UAE

15 April 2008, 13:38 GMT
Etisalat, the UAE telecoms company, has signed a deal with Chinese telecoms infrastructure business Huawei to supply it with a fibre optic network in the UAE.
Islamic Action Front secures approval to continue operating

14 April 2008, 18:30 GMT
Jordan’s Islamic Action Front, the political wing of the Muslim Brotherhood, has been approved to operate as a political party just two days before a new law would have forced it to shut down.
Zain removes extra charges for international roaming

14 April 2008, 18:01 GMT
Zain, the Kuwaiti mobile phone operator, has scrapped international roaming charges for customers travelling to Bahrain, Iraq, Jordan and Sudan.
Cairo puts pressure on firms to meet governance rules

11 April 2008, 15:43 GMT
Listed companies will be asked to explain how they comply in annual reports.
Palestinian National Authority survey probes strength of finance sector

11 April 2008, 15:37 GMT
The Palestinian National Authority has launched a survey of the finance and insurance markets in the West Bank and Gaza.
Privatisation fuels growth

11 April 2008, 13:24 GMT
Egypt’s economic liberalisation has helped make the country an attractive market for foreign investors, but more needs to be done to maintain this success.
MARKETWATCH: Saudi and Egypt lead the region with stock market gains

10 April 2008, 16:21 GMT
Most major stock markets across the region rose over the week, led by Saudi Arabia and Egypt.
Ahmadinejad tells Iran to prepare for economic reforms

10 April 2008, 12:58 GMT
President Mahmoud Ahmadinejad has told Iran to prepare for “a great economic surgery, fundamental reforms, and a great construction movement”.
Ahmadinejad replaces rebellious economic affairs minister

9 April 2008, 17:26 GMT
Iranian President Mahmoud Ahmadinejad has replaced Davoud Danesh-Jaafari as economic affairs minister just days after he warned that the government had failed to bring inflation under control.
Construction group to float on Tadawul for $560m

9 April 2008, 17:12 GMT
Construction group Mohammad al-Mojil will float on Saudi Arabia’s Tadawul with a market capitalisation of SAR2.1bn ($560m) on 3 May after a book-building exercise.
Ahmadinejad replaces economic affairs minister

9 April 2008, 16:37 GMT
Iran’s President Mahmoud Ahmadinejad has replaced his Economic Affairs Minister Davoud Danesh-Jaafari, just days after the minister warned that the government had failed to bring inflation under control.
Orascom Hotels profits increase 124 per cent

8 April 2008, 15:55 GMT
Orascom Hotels & Development increased its net profits by 124 per cent during 2007, due to a sharp increase in the number of hotel rooms it has.
Summit Technology misses revenue targets for 2007

8 April 2008, 15:12 GMT
Summit Technology, the parent company for five Egyptian IT businesses, narrowly missed its revenue targets for 2007, according to chief executive officer Magda el-Sabee.
Egyptian clothing firm builds up fund to buy European brands

7 April 2008, 15:39 GMT
Egyptian clothing company, Arafa Holding, has built up $300m of capital to fund acquisitions of clothing brands in Europe, according to the company’s chairman Alaa Arafa.
Iran’s economy minister admits failure to control inflation

7 April 2008, 15:11 GMT
Iran’s economy minister has admitted that the government has failed to control inflation, after official figures showed that prices climbed by 18.4 per cent in the last Iranian year, up from 13.5 per cent the previous year.
Cairo demands financial disclosure from Etisalat subsidiary

4 April 2008, 15:48 GMT
Cairo will publish details in May of the financial performance of Etisalat Misr, the subsidiary of UAE’s Etisalat, for the first time.
Amman faces cuts to pay for subsidies

4 April 2008, 15:24 GMT
Amman will have to cut spending by 24 per cent this year or find an additional JD267m ($377m) in revenue, after the reintroduction of subsidies for gas and barley.
Mahmoud Mohieldin on reforms in Egypt

4 April 2008, 13:30 GMT
Employment and education will drive future policies in Egypt, says the man who has become the public face of economic reform.
MARKETWATCH: Kuwait Stock Exchange hits all-time high

3 April 2008, 17:23 GMT
The Kuwait Stock Exchange hit a record high of 14,501 points on Thursday, before closing on 14,459 points, some 0.8 per cent up on the week.
Zain issued with third mobile phone licence in Saudi Arabia

3 April 2008, 14:57 GMT
Zain, the acquisitive Kuwaiti telecoms company, has received the licence permitting it to set up Saudi Arabia’s third mobile phone operator.
Iran Khodro to build car plant in Algeria

2 April 2008, 17:54 GMT
Iran Khodro, the Middle East’s largest car manufacturer, will build a plant in Algeria, according to the official IRNA news agency.
Abu Dhabi newspaper will launch on 20 April

2 April 2008, 17:16 GMT
The UAE’s new national newspaper, The National, will publish its first issue on 20 April.
Guardian Council confirms conservative election victory in Tehran

1 April 2008, 15:54 GMT
Iran’s Guardian Council has confirmed the clean sweep of conservative candidates in Tehran in the country’s recent parliamentary elections.
Etisalat signs up 4 million more Saudi customers

1 April 2008, 15:23 GMT
Etisalat has surprised telecoms analysts by announcing it had more than 11 million customers at the end of 2007, about 4 million more than the market was expecting.
Qatar extends deadline for fixed-line licence auction

31 March 2008, 15:35 GMT
Qatar’s telecoms regulator has extended the deadline for applications for the country’s second fixed-line licence until 17 April, in an attempt to attract more bidders.
Tehran claims unemployment rate falls to 10 per cent

31 March 2008, 14:47 GMT
Iran’s unemployment rate fell to 10.3 per cent at the end of the 2007-08 Iranian year, according to the Mohammad Jahromi, the country’s minister of labour and social affairs.
Cairo set to launch economic courts for businesses

28 March 2008, 16:50 GMT
Egypt will introduce a system of courts for businesses in the next few weeks, according to the country’s Investment Minister Mahmoud Mohieldin.
Friendi Mobile wins first virtual network licences in region

28 March 2008, 15:49 GMT
Dubai-based Friendi Mobile is the first company in the region to obtain licences to launch a mobile virtual network operator.
Shares in Zain Saudi Arabia fall after strong market debut

27 March 2008, 17:52 GMT
Zain Saudi Arabia, the subsidiary of the Kuwait's Zain telecoms group, has seen its share price fall after initially doubling in value during its first week of trading on the Tadawul.
Amman to privatise 19 companies this year

27 March 2008, 15:53 GMT
The Jordanian government will privatise around 19 companies in 2008, according to the president of the Executive Privatisation Commission.
Noor sets up outsourcing venture in Dubai

26 March 2008, 18:01 GMT
The UAE's Noor Investment Group is to set up a business process outsourcing centre in Dubai through a venture with an Indian IT outsourcing company.
Egypt invites more bidders for schools project

26 March 2008, 17:38 GMT
Egypt’s Ministry of Investment has invited more companies to bid for the first project in its multi-billion-dollar infrastructure programme, after reopening the prequalification process.
Middle East offers world's largest fuel subsidies

25 March 2008, 16:32 GMT
Middle East governments were more generous in subsidising oil products, including petrol, kerosene and diesel, than governments anywhere else in the world during 2007, according to the IMF.
Jordan revokes $360m light railway deal with Chinese led consortium

25 March 2008, 15:30 GMT
The Jordanian government has terminated a 30-year contract with a construction consortium to build, operate and run a light railway between Amman and the country’s second-biggest city Zarqa.
Telecoms: Six top managers

20 March 2008, 17:56 GMT
The top managers at the six fastest growing mobile phone operators in the Middle East: Ali al-Dahwi, Ahmed al-Shatti, Ross Cormack, Alex Shalaby, Richard Daly, Joseph Jed
Oger Telecom shelves plans for mobile phone service

20 March 2008, 16:14 GMT
Oger Telecom, the telecoms subsidiary of Saudi Oger, has indefinitely postponed plans to launch a mobile phone service.
Amman faces growing deficit after reinstating subsidies

20 March 2008, 16:00 GMT
Amman's budget deficit is likely to increase significantly this year unless far-reaching spending cuts are made, after King Abdullah reversed his decision to scrap subsidies for gas and barley.
Irancell was region’s fastest growing telecoms operator in 2007

19 March 2008, 17:39 GMT
Irancell was the Middle East’s fastest growing mobile phone operator in 2007, according to results filed by its South African parent company MTN.
Iran agrees budget increase of 20 per cent

18 March 2008, 17:22 GMT
Iran’s budget for the new Iranian year, which starts on 21 March, will be 20 per cent bigger than last year, at $304bn compared with $253bn.
Etihad Etisalat gets regulatory approval for $400m acquisition

18 March 2008, 16:44 GMT
Etihad Etisalat, the Saudi subsidiary of UAE telecoms company Etisalat, has received regulatory approval for its SR1.5bn ($400m) bid to takeover internet service provider Bayanat.
Saudi Telecom to spend $15bn on overseas expansion

17 March 2008, 16:18 GMT
Saudi Telecom will spend SR56.3bn ($15bn) acquiring companies and licences outside its home market during 2008, says Fahd Bin Mushayt, head of the company’s strategic investment unit.
Jordan introduces $705m supplementary budget

17 March 2008, 15:55 GMT
Jordan’s finance minister Hamad Kasasbeh has introduced a JD500m ($705m) supplementary budget, about JD310m more than was expected.
Zain invests $1bn in Darfur network

14 March 2008, 18:59 GMT
Zain, the Kuwaiti telecoms company, will spend $1bn improving its network in Sudan, including expansion into war-torn Darfur, after the rival governments in the north and south of the country reached an agreement giving telecoms companies access to areas under their control.
Baghdad to set up utilities watchdog

14 March 2008, 18:44 GMT
Baghdad will establish a single regulator to oversee the water, power, telecoms and postal services by the end of this year, according to former telecoms minister Mohammed Allawi.
Grain exports in Iran set to double with state support

14 March 2008, 18:13 GMT
Good weather and state support for farmers will enable Iran to export almost 1 million tonnes of wheat before the end of the food production year on 30 June, more than double previous forecasts.
The Allenby Bridge crossing to Ramallah

14 March 2008, 15:38 GMT
Entering the West Bank from Jordan requires a degree of deception and inventiveness.
Jordan Petroleum to lose distribution monopoly

13 March 2008, 17:33 GMT
Jordan Petroleum Refinery Company will lose control of 75 per cent of the kingdom’s oil distribution network when its monopoly ends on 31 December this year.
Mobile investment stabilises profits at Telecom Egypt

13 March 2008, 17:00 GMT
Telecom Egypt’s 45 per cent stake in fast-growing Vodafone Egypt enabled the fixed-line operator to report net profit growth of 4.4 per cent in 2007.
Amman warned over public sector salary growth

12 March 2008, 18:10 GMT
The International Monetary Fund (IMF) has told Jordan that it should restrict the annual growth of public sector salaries and pensions to 3 per cent so that its budget can recover from its current deficit.
Orascom Telecom makes $2bn profit after disposals

12 March 2008, 17:32 GMT
Orascom Telecom, the largest company on the Cairo & Alexandria Stock Exchanges, made a record profit of $2bn in 2007 after selling its Indian and Iraqi mobile phone operations.
Al-Watany Bank’s profits jump 157 per cent

11 March 2008, 17:41 GMT
Al-Watany Bank of Egypt generated a net profit of EGP243.6m ($44.5m) during 2007, some 157 per cent more than its 2006 profits of EGP94.6m.
Radio more important than print media in Jordan

11 March 2008, 17:08 GMT
Radio is more successful than both newspapers and magazines in Jordan, according to a survey of almost 3,000 people in the run up to last November’s parliamentary elections.
Zain gets approval to raise $4.4bn of new capital

10 March 2008, 17:08 GMT
Zain, the Kuwaiti mobile phone company, has been given the go-ahead to raise $4.4bn of capital through a new share issue in May.
Jordan's inflation rises 9 per cent after subsidies end

10 March 2008, 16:12 GMT
Inflation in Jordan increased by 9 per cent in February after the government scrapped fuel subsidies, according to a survey by the Department of Statistics.
'Justice shares' inflate results of Tehran privatisation round

7 March 2008, 17:18 GMT
Iran's privatisation programme raised just $3.5bn in capital during the current Iranian year, a fraction of the sales claimed by the head of the Iranian Privatisation Organisation (IPO) in early February.
Survey reveals extent of Israeli mobile use in West Bank

7 March 2008, 16:40 GMT
A survey by local mobile operator Wataniya Palestine has shown that Israel's two largest telecoms firms are providing one-third of mobile phone services in the West Bank, despite not having Palestinian Authority (PA) licences.
Axing subsidies in Jordan is the first step

7 March 2008, 16:26 GMT
It took five years and four prime ministers, but Jordan has finally abolished fuel subsidies.
The 100 biggest companies in the Middle East in 2008

7 March 2008, 13:04 GMT
Financial services firms make up 40 per cent of MEED’s list of the 100 largest listed companies, with real estate and telecoms businesses joint second.
Jordan's Finance Minister on reforms to public finances

7 March 2008, 11:47 GMT
Jordan’s finance minister has a central role in implementing essential reforms to public finances.
Jordan’s US trade surplus down 37 per cent

6 March 2008, 15:30 GMT
Jordan’s trade surplus with the US dropped by 37 per cent in 2007 because of declining exports from Qualified Industrial Zones and greater imports of American goods.
Bahraini regulator threatens to sue Batelco over advert

6 March 2008, 14:50 GMT
Bahrain’s Telecommunication Regulatory Authority (TRA) has threatened to sue telecoms monopoly Batelco over an advertisement that said a new broadband package was “coming soon subject to TRA approval”.
Rain damage causes 80 per cent fall in wheat harvest

5 March 2008, 17:46 GMT
Morocco’s wheat harvest for the second half of 2007 was just 20 per cent of that produced in the same period in the previous year after late rains damaged crops, according to figures released by the Agriculture Ministry.
Qtel profits fall 9 per cent in home market

5 March 2008, 16:48 GMT
Qtel’s net profits in its domestic market fell by 9 per cent in the fourth quarter of 2007, according to a breakdown of its revenues seen by MEED.
Sonatrach and StatoilHydro partnership to supply gas to US

4 March 2008, 15:39 GMT
Algeria’s state-owned oil company Sonatrach will supply the US with 2 billion cubic metres a year (cm/y) of liquefied natural gas (LNG) through a deal with Norway's StatoilHydro.
Oman to award mobile and fixed-line phone licences

4 March 2008, 15:08 GMT
Oman's telecoms regulator is to award licences to operate mobile phone and a fixed-line services later this year.
Bahrain to get third mobile phone operator in 2009

3 March 2008, 16:00 GMT
Bahrain will get a third mobile phone operator in 2009 as part of a wide-ranging series of reforms to telecoms regulation.
Maroc Telecom mobile revenues rise 30 per cent after African acquisitions

3 March 2008, 15:21 GMT
Maroc Telecom’s mobile phone revenues increased 30 per cent to €853m ($1.3bn) in 2007 due to strong growth in its domestic market and the successful integration of the two African businesses it acquired in 2006.
Qtel restructures Wataniya in a bid to boost falling profits

29 February 2008, 17:18 GMT
Operator resolves disputes and replaces chief executives in four countries.
Developers move upmarket

29 February 2008, 14:19 GMT
With little money to be made from building further low-cost housing, a series of high-end properties are being planned to cater for Jordan’s burgeoning middle class.
Amman parliament throws out vote-rigging charges against MPs

28 February 2008, 17:33 GMT
Jordan’s parliament has rejected legal challenges to dismiss eight MPs for alleged vote rigging.
Etisalat in joint venture talks with Korek Telecom

28 February 2008, 16:55 GMT
Etisalat, the UAE telecoms operator, is in talk with Kurdish company Korek Telecom about setting up a joint venture mobile phone business in Iraq.
Damascus to collect $550m from phone companies in 2008

27 February 2008, 17:25 GMT
The Syrian government expects to collect about $550m in royalties from the country’s two mobile phone operators, MTN and Syriatel, in 2008.
Amman to give away $7bn of land for housing programme

27 February 2008, 16:45 GMT
Jordan's government will give private sector property developers massive swathes of land to start a JD5bn ($7.1bn) programme to build 120,000 residential properties for low-income Jordanians.
Jordanian refinery company to be privatised this year

26 February 2008, 16:46 GMT
Jordan’s monopoly refinery operator, Jordan Petroleum Refinery Company, will go up for auction before the end of the year, according to Alia Hatoug-Bouran, the kingdom’s ambassador to the UK.
Riyadh approves three telecoms licences

26 February 2008, 16:08 GMT
Saudi Arabia’s Council of Ministers has officially approved the right of three consortiums to operate fixed-line licences - 10 months after they won auctions organised by the kingdom’s telecoms regulator.
Saudi Arabia's Atheeb to bid for Egyptian fixed-line licence

25 February 2008, 16:26 GMT
Saudi Arabia’s Atheeb group will bid for Egypt’s second fixed-line phone licence when it comes up for auction on 19 June.
Qtel profits fall after Wataniya acquisition

25 February 2008, 16:04 GMT
Qtel, Qatar’s monopoly telecoms operator, suffered a drop in profits in 2007 as it continued its efforts to integrate Kuwaiti company Wataniya.
Amman cuts spending by 10 per cent

22 February 2008, 17:49 GMT
Amman is to cut public spending by at least 10 per cent this year, after the government was forced to accept compromises with parliament that have pushed it over-budget.
Breaking the Saudi mobile duopoly

22 February 2008, 13:12 GMT
After spending $6bn on Saudi Arabia’s third mobile phone licence, Kuwait’s Zain hopes to attain one-third of the market, but it has several challenges to overcome first.
Etisalat and Du warned against cross-subsidies

20 February 2008, 17:51 GMT
The UAE’s two telecoms operators, Etisalat and Du, have been warned against offering loss-leading products by the local regulator.
Kurds strike mobile deal with Baghdad

15 February 2008, 16:38 GMT
The Kurdish Regional Government (KRG) has reached an agreement with Baghdad to allow mobile phone companies licensed by the Iraqi federal government to operate in areas under its control.
Governments act to reduce debts

15 February 2008, 15:21 GMT
With record budget deficits in North Africa and the Levant, subsidies are under threat.
Regional telecoms operators to invest in sub-sea cable

8 February 2008, 17:25 GMT
Saudi Telecom, Telecom Egypt, Ogero of Lebanon and the UAE’s Etisalat partner spend $400m on link between India and Europe to avoid further internet disruptions like those experienced in the Middle East over the last week.
Internet cable problems: Telecoms competitors must work together

8 February 2008, 15:56 GMT
Just days after severed cables in the Mediterranean disrupted phone and internet services in the Gulf, the region’s largest fixed-line operators agreed to build a high-capacity sub-sea cable, running from India to France through the Red Sea.
Qtel faces up to competition

8 February 2008, 12:23 GMT
When Vodafone signs up its first customer in Qatar this year, the Gulf’s last mobile telecoms monopoly will come to an end. But a rival operator could be just what the incumbent needs
Jordan to spend $700m to move Aqaba port 20km south

7 February 2008, 18:42 GMT
An agency of the Jordanian government has announced it will spend $700m on the project to move the port of Aqaba some 20km to the south, in the biggest infrastructure project in the history of the kingdom.
France Telecom seeks strategic stake in Algerie Telecom

7 February 2008, 18:38 GMT
France Telecom will take on the region’s largest telecoms firms in the competition to secure a strategic stake in Algerie Telecom, the former monopoly fixed-line operator and the country’s second largest mobile phone business.
Sultan Center signs deal with Jaeger to expand in the Gulf

6 February 2008, 17:59 GMT
Sultan Center, a Kuwait-based franchise operator, has signed a deal with UK fashion retailer Jaeger to expand its brand across the Middle East.
Mobile phone users in Morocco number rises to 20 million

6 February 2008, 17:39 GMT
The number of mobile phone users in Morocco passed 20 million at the end of 2007, according to the country’s telecoms regulator.
Batelco starts redundancy programme as growth slows

5 February 2008, 17:31 GMT
Telecoms operator Batelco has offered redundancy packages to 86 employees in Bahrain, after growth in its home market slowed due to competition from rival operator Zain.
Jordanian parliament approves end of fuel subsidies

5 February 2008, 16:46 GMT
Jordanians are waiting for King Abdullah II to decide when subsidies will be withdrawn from petrol and gas cylinders, after the budget containing the change received approval from the upper chamber of parliament.
Chinese manufacturer opens Jordan’s first car plant

4 February 2008, 17:32 GMT
Chinese manufacturer Hebei Zhongxing Automobile has opened a $30m car assembly plant in Jordan, the first in the kingdom’s history.
Jordan’s economy slows in 2007

4 February 2008, 16:18 GMT
The growth of Jordan’s economy slowed in the past year, with some sectors shrinking between January and September 2007, according to Amman-based consultant First Strategieh.
Benefits plan puts pressure on Jordan's budget deficit

1 February 2008, 17:11 GMT
Jordan’s budget deficit could grow in 2008 despite the end of fuel subsidies, because of the government’s commitment to paying benefits to the poor, according to analysts.
Regional skills shortage prevents firms upgrading computer systems

1 February 2008, 16:51 GMT
Software giant Oracle says lack of skilled workers is restricting growth
ZincOx starts work on $176m Yemen mine

1 February 2008, 16:04 GMT
UK mining company ZincOx has started work on its 22-month, $176m project to build Yemen’s first industrial-scale mine.
GCC membership is no panacea for Yemen's economic problems

1 February 2008, 15:35 GMT
Yemen wants to grow its economy by joining the GCC. It would do better to adopt the economic model of liberalising North African states.
Sanaa brushes aside the terrorist threat in a bid for tourists

1 February 2008, 14:33 GMT
Yemen is working hard on tourism in a bid to diversify its economy away from oil.
Revenues at Vodafone Egypt up a third

31 January 2008, 16:33 GMT
Vodafone Egypt has announced revenues of $471m for the last three months of 2007, 31 per cent more than for the same period of 2006.
Mobinil reports strong rise in profits

31 January 2008, 16:08 GMT
Egyptian mobile phone operator Mobinil has reported strong growth in profits for the last three months of 2007, marking a recovery from earlier in the year.
Jordan Petroleum accused of delaying supplies to retailers

30 January 2008, 17:36 GMT
Jordan Petroleum Refinery Company has been accused of delaying supplies of fuel to retailers just days before the government phases out fuel subsidies.
Jawwal to introduce cheaper calls to Israeli networks

30 January 2008, 16:38 GMT
Palestinian mobile phone operator Jawwal is cutting the cost of calls to phones on all four Israeli mobile phone networks.
Amman to launch new investment strategy by June

29 January 2008, 16:36 GMT
Amman has begun developing a national investment strategy, in an effort to attract an extra $3bn in foreign direct investment (FDI) a year.
Gulf states risk over-committing themselves with budget promises

28 January 2008, 20:15 GMT
Gulf states have committed themselves to such high levels of government spending that they could find it hard to bring their finances back under control in the event of an economic downturn, according to a new report.
Zain delivers largest profit in Kuwait’s history

28 January 2008, 18:27 GMT
Telecoms operator Zain generated net profits of KD320m ($1.1bn) in 2007, the largest private sector profit in Kuwait’s history.
Optimiza sells 10 per cent stake to United Arab Investors

28 January 2008, 17:23 GMT
Jordanian IT company Optimiza has sold 10 per cent of its equity to United Arab Investors Company (UAIC) for an undisclosed sum.
King Abdullah II appoints Feisal as Regent

28 January 2008, 16:13 GMT
King Abdullah II of Jordan has named his brother Prince Feisal as regent after more than three years without a named successor.
Etisalat profits slow after Egyptian launch

28 January 2008, 15:34 GMT
Etisalat’s profits failed to keep pace with its growth in revenues in the past year, following its expansion into Egypt during 2007.
Jordan's unemployed in line for benefits

25 January 2008, 15:53 GMT
Jordan’s government could introduce unemployment benefits for the first time, as it struggles to find ways to deal with popular discontent in the wake of the axing of fuel subsidies.
SAP to regain regional lead from Oracle

25 January 2008, 14:34 GMT
Germany’s SAP is expected to regain its leading position in the region’s business software market this year, bringing to an end Oracle’s brief period of dominance, according to US IT consultant IDC.
Jordan to end fuel subsidies after budget is approved

24 January 2008, 16:24 GMT
Jordan’s budget for 2008 has won approval from parliament, bringing an end to the kingdom’s costly fuel subsidies.
Most Mobinil customers dissatisfied with the service they get

24 January 2008, 15:49 GMT
The majority of Mobinil customers are dissatisfied with the service provided by their operator, according to a survey of 1,264 mobile phone users in Egypt by Maktoob Research.
Oger Telecom bids for South African telecoms firm

23 January 2008, 17:40 GMT
Oger Telecom has made an unsolicited bid for South African telecoms operator Telkom, just days after securing SAR9.6bn ($2.6bn) of new financing by selling 35 per cent of its shares to Saudi Telecom.
Huawei wins Omantel 3G contract

23 January 2008, 16:30 GMT
Huawei, a Chinese telecoms infrastructure company, has won a contract to build a 3G mobile phone network for Omantel after submitting the lowest bid.
Maroc Telecom revenues climb as phone penetration soars

22 January 2008, 17:29 GMT
Maroc Telecom’s revenues climbed 22 per cent to MD27.5bn ($3.5bn) during 2007, as the operator took advantage of rapidly increasing mobile phone penetration in its home market.
Wataniya names new chief executive

22 January 2008, 16:40 GMT
Wataniya, the Kuwaiti mobile phone operator, has named the former boss of its Tunisian operation as its new chief executive officer.
Oracle overtakes SAP in business software sales

21 January 2008, 15:09 GMT
Oracle has overtaken SAP as the largest supplier of business software in the Middle East for the first time, according to the annual survey of software sales by IDC, a US-based consultancy.
Saudi Telecom buys stake in Oger Telecom

21 January 2008, 14:46 GMT
Saudi Telecom has bought a 35 per cent stake in Oger Telecom, the telecoms subsidiary of construction company Saudi Oger, for SAR9.6bn ($2.6bn).
Choice will drive up standards

18 January 2008, 17:43 GMT
The liberalisation of the telecoms market is providing a tough lesson for some incumbent oper-ators. But competition will only get fiercer in the coming years.
Beirut postpones $6bn privatisation of mobile networks

18 January 2008, 14:36 GMT
Lebanon’s telecoms regulator has postponed the $6bn privatisation of the country’s two mobile phone networks by at least eight weeks, because of the prolonged political crisis.
Asiacell profits from ownership change

18 January 2008, 13:10 GMT
Parent group Qtel claims Iraqi mobile phone operator has returned to profitability following acquisition
Saudi Aramco & IT: Integration brings savings

18 January 2008, 12:15 GMT
By having one computer system across its many downstream operations, state oil giant Saudi Aramco has improved efficiency and reduced technology costs.
Saudi Telecom: Competition drives cross-border growth

18 January 2008, 12:02 GMT
With the Saudi regulator determined to open up the kingdom’s telecoms sector, former monopoly operator Saudi Telecom is expanding into neighbouring markets to shore up falling profits.
Telecoms monopolies feel the pressure

18 January 2008, 11:54 GMT
State-owned telecoms companies have prospered in the region’s tightly regulated markets, but are struggling as the sector opens up to competition.
Amman faces showdown on fuel subsidies

17 January 2008, 17:36 GMT
Jordan’s new government faces a showdown with parliamentarians next week over its decision to scrap petrol subsidies in the new budget.
Maroc Telecom launches high-speed mobile service

17 January 2008, 16:07 GMT
Maroc Telecom has launched high-speed mobile phone services, including mobile broadband, video calling and games in all of Morocco’s major cities.
Turkcell launches court case over collapse of Iranian operation

16 January 2008, 17:09 GMT
Turkey’s largest mobile operator Turkcell is bringing an international court case against the Iranian government over the abrupt end to its investment in Irancell in 2005.
Regulator postpones Egypt’s second fixed-line licence

16 January 2008, 16:33 GMT
Egypt’s telecoms regulator has postponed the publication of tender documents for the country’s second fixed-line licence.
Regulator postpones Egypt’s second fixed-line licence

16 January 2008, 16:31 GMT
Egypt’s telecoms regulator has postponed the publication of tender documents for the country’s second fixed-line licence.
US increases aid to Jordan by 25 per cent

15 January 2008, 15:41 GMT
The US will increase financial aid to Jordan by 25 per cent from $532m to $663.5m in 2008, according to the head of the US Agency for International Development (USAID) in Jordan.
Mubadala hires Arianespace to launch satellite

15 January 2008, 15:13 GMT
Government-owned investment vehicle Mubadala has awarded a contract to launch an AED5bn ($1.4bn) communications satellite to the French firm Arianespace.
Software to boost regional IT spending

14 January 2008, 16:06 GMT
The Gulf states will increase their IT spending by 11.6 per cent to $8.6bn during 2008, on the back of rapidly growing investment in software, according to consultancy firm IDC.
Qtel makes profit in Oman

14 January 2008, 15:17 GMT
Qtel’s mobile phone business in Oman has passed the 1 million customer mark less than three years after it was launched, and in the process has begun to make its first profits.
Etisalat Misr secures $845m loans

10 January 2008, 15:52 GMT
Etisalat Misr, the third mobile operator in Egypt, has agreed the terms for $845m in new loans from seven banks, led by Al-Arabi Bank Group.
Libya to get Africa’s first Wimax network

10 January 2008, 15:23 GMT
Libya will be the first country in Africa to get high-speed wireless broadband using Wimax technology at the end of September 2008, according to the Chinese company that has been commissioned to build the network.
Special Report: Telecoms sector outlook 2008

4 January 2008, 18:01 GMT
Telecoms operators in the Middle East have been spoiled for choice over the past 12 months, with auctions for licences in Iraq, Kuwait, Qatar and Saudi Arabia. However, in 2008, the best opportunities for companies in the region to expand will be the two licences on offer as part of the privatisation of Lebanon's two mobile phone companies. Iran and Syria may set up competitions for a third licence, but both are uncertain.
A year of opportunity: Iran

4 January 2008, 17:12 GMT
Iran is not working on a nuclear weapons programme, but its enemies know for the first time that it had a programme up until the autumn of 2003 when work was suspended.
Food subsidies soar as wheat hits high

21 December 2007, 11:28 GMT
Egypt and Morocco, the region’s biggest wheat importers, face rising debts unless cuts are made elsewhere
Food subsidies need a rethink

21 December 2007, 10:58 GMT
Wheat is the Middle East’s most popular foodstuff, and arguably its biggest political challenge. From flat breads to couscous, Arab cuisine revolves around the crop, yet most countries rely on imports. Only Iran and Syria are net exporters.
Services sector falls behind rivals

21 December 2007, 10:38 GMT
The IT services industry is growing more slowly in Egypt than in other emerging markets, such as Eastern Europe and East Africa, despite Cairo’s efforts to make growth in the industry a priority.
Lebanese speaker urges US to pressure parliamentary majority

20 December 2007, 15:32 GMT
The speaker of Lebanon’s parliament has urged the US to increase pressure on the anti-Syrian majority in parliament, in an effort to reach a compromise over the election of a new president.
Lebanese speaker tells US to pressure the parliamentary majority

20 December 2007, 15:29 GMT
The speaker in Lebanon’s parliament has told the US to put pressure on the anti-Syrian parliamentary majority to reach an accommodation with opposition politicians so that the country can elect a new president.
Russians to complete Iranian nuclear plant in 2009

20 December 2007, 15:04 GMT
Iran’s Bushehr nuclear power plant will not be ready before 2009, according to the head of the Russian contractor building the reactor.
Independent TV station to launch in Jordan in March

19 December 2007, 16:58 GMT
Jordan’s first independent TV channel, ATV, will launch before the end of March 2008, according to the station’s vice-chairman Zeid Rashdan.
Tehran deeper in debt after state spending increases

19 December 2007, 16:21 GMT
Mahmoud Ahmadinejad’s increased spending on public services will plunge Iran’s government deeper into debt even if oil prices remain at their current high levels, says ratings agency Fitch.
Landmark chief executive buys stake in Debenhams

18 December 2007, 15:14 GMT
An investment vehicle owned by the chief executive of Landmark Group, the UAE-based general retailer, has built up a 7 per cent stake in Debenhams, a UK department store group.
Five firms compete for Qatar’s second fixed-line licence

18 December 2007, 13:04 GMT
Five telecoms companies have registered to compete for Qatar’s second fixed-line licence, according to the state’s telecoms regulator ictQatar.
Ministry sets deadline for first Red-Dead project contracts

14 December 2007, 18:11 GMT
Jordan’s Water Ministry has set the deadline for companies to bid for the first blocks of work on the Red Sea-Dead Sea canal, a project that will cost up to $4bn to develop.
Iranian inflation exceeds forecast

14 December 2007, 18:07 GMT
Iran’s rate of inflation has reached 19.1 per cent beating the central bank’s forecast inflation rate for the current Iranian year.
Beirut braces for year-long upgrade

14 December 2007, 13:21 GMT
Lebanon’s telecoms regulator says that the country’s two state-owned mobile phone networks can be fully repaired in less than 12 months after they are privatised in February 2008. “These are networks that require investment,” says Kamal Shehadi, head of the Telecommunications Regulatory Authority (TRA) “But I think it will take less than one year.”
Central bank governor may leave when term finishes on 17 December

12 December 2007, 18:14 GMT
The governor of the UAE’s central bank Sultan bin Nasser al-Suwaidi may be replaced when his term comes to an end on 17 December.
Sawiris denies putting Orascom Telecom up for sale

10 December 2007, 18:02 GMT
Egyptian billionaire Naguib Sawiris has denied rumours that his family has put its 51 per cent stake in Orascom Telecom up for sale.
Vodafone is preferred bidder for Qatar phone licence

10 December 2007, 16:57 GMT
Vodafone, the UK telecoms giant, is the preferred bidder for the second mobile phone licence in Qatar, according to a statement from the country’s telecoms regulator.
Amman government faces subsidies battle

7 December 2007, 17:41 GMT
With the oil price at a record high and the cost of cereals rising, Jordan’s subsidies are unsustainable. But plans by the new government of Prime Minister Nader Dahabi to cut them carry significant political risks.
Lebanon postpones presidential poll

7 December 2007, 16:03 GMT
Lebanon’s feuding politicians have postponed the latest attempt to elect a new president until Tuesday 11 December, but they have agreed in principle to give the post to army chief Michel Suleiman.
Orascom Telecom ends investment in Hutchison

7 December 2007, 15:21 GMT
Orascom Telecom has brought its investment in Far East telecoms company Hutchison Whampoa to an end about five months after Hutchison sold its prize asset, the Indian operator Hutch Essar.
Orascom dispute with France Telecom surprises analysts

7 December 2007, 14:34 GMT
Orascom Telecom's decision to take France Telecom to court over their joint ownership of Mobinil has confounded analysts, who view Egypt's largest mobile operator as one of the most promising Middle East telecoms companies in the medium term (MEED.com 4:12:07).
Dahabi seeks US funding to introduce business-friendly reforms

6 December 2007, 17:03 GMT
Jordan’s new prime minister Nader Dahabi is seeking investment from a US government aid agency to introduce business-friendly reforms.
Jordan's new housing law will increase rents on two million properties

6 December 2007, 14:12 GMT
A controversial new tenancy law in Jordan will increase rents on up to two million properties when it comes into force in 2011, according to a Jordanian human rights group called Mizan.
Senior civil servant says working poor need more help

5 December 2007, 17:41 GMT
Jordan’s low-income population need more help from government institutions, according to a senior civil servant responsible for distributing state benefits.
UK company to develop oil shale in central Jordan

5 December 2007, 17:15 GMT
The UK's Jordan Energy and Mining Limited will start developing a 700 million barrel oil field in central Jordan after proving that the field is profitable.
Amman launches Aqaba economic zone census

4 December 2007, 15:16 GMT
Jordan’s government is carrying out a census of its flagship free-trade area in the Southern city of Aqaba to help it plan future building work in the area.
Orascom Telecom and France Telecom go to court over Mobinil

4 December 2007, 14:50 GMT
Orascom Telecom and France Telecom will meet in court to settle a series of disputes over the Egyptian mobile phone operator Mobinil, which they both own.
King Abdullah warns new government against delaying reforms

3 December 2007, 16:47 GMT
King Abdullah II has warned Jordan’s new government not to delay economic liberalisation, during his speech at the opening of the new parliament on 2 December.
Zain buys Orascom’s Iraqi assets

3 December 2007, 16:28 GMT
Zain has bought rival telecoms giant Orascom’s Iraqi subsidiary IraQna for $1.2bn, bringing the Egyptian operator’s involvement in Iraq to an end.
SAP in line for cross-government deal

3 December 2007, 14:57 GMT
The Egyptian government has signed a memorandum of understanding worth tens of millions of dollars to implement computer systems from German software firm SAP over the next five years.
Petrol subsidies do not work in Jordan

30 November 2007, 17:12 GMT
Rising petrol prices have already claimed one high-profile political scalp in Jordan this year. Former finance minister Ziad Fariz resigned in August after his fellow ministers failed to back his plan to end petrol subsidies immediately.
Report calls for overhaul of 'chaotic' Asiacell accounts

30 November 2007, 16:14 GMT
The finances of Qtel's Iraqi subsidiary, Asiacell, need to be completely overhauled because the financial accounts are in chaos, according to a report commissioned by Asiacell's previous shareholders: Wataniya Telecom, United Gulf Bank and Kurdish businessman Faruk Rasool.
Egyptian unemployment falls

30 November 2007, 15:36 GMT
Egypt’s unemployment rate fell to 8.9 per cent in the three months to the end of September as the country’s far-reaching economic liberalisation began to increase the number of jobs available.
Close-up on Orascom Telecom

30 November 2007, 15:08 GMT
Orascom, the prize asset of the Sawiris family and mobile phone operator of choice for 33.4 million people, will soon come under greater pressure from its regional rivals, Etisalat Misr in Egypt, Zain and Qatar's Qtel in Iraq and a forthcoming new entrant into the Algerian market.
Former prime minister appointed to Jordanian senate

30 November 2007, 15:03 GMT
Jordan’s King Abdullah has made Marouf Bakhit a member of the new senate, just four days after replacing him as prime minister with Nader al-Dahabi.
Iraq plans to rebase its currency in early 2008

29 November 2007, 0:00 GMT
The Iraqi government is planning to rebase its currency in early 2008 to make currency calculations more straightforward, says Finance Minister Bayan Jabr.
Prime minister calls for improved public transport system in Amman

29 November 2007, 0:00 GMT
Jordan’s new prime minister Nader Dahabi has called for the capital Amman to get a modern public transport system to persuade more commuters to leave their cars at home.
Dahabi says petrol prices are Jordan's main concern

28 November 2007, 0:00 GMT
Coping with rising petrol prices is the main challenge facing Jordan, according to the kingdom’s new prime minister Nader Dahabi.
IT services market to grow by 15 per cent this year

28 November 2007, 0:00 GMT
The IT services market in the UAE will grow to almost $600m this year, some 15 per cent more than 2006, according to IDC, a US-based consultancy.
Amman municipality denies conflict of interest

27 November 2007, 0:00 GMT
Greater Amman Municipality (GAM) is rejecting criticism over an alleged conflict of interests in its dual role as regulator of public transport and as a partner in the capital's largest private sector transport operator.
Saudi Telecom wins third Kuwait licence with $908m bid

27 November 2007, 0:00 GMT
Saudi Telecom has won the third mobile phone licence in Kuwait with a bid of KD248.7m ($907.6m), according to the Kuwait Investment Authority which ran the auction.
King Abdullah appoints Aqaba economic zone president as prime minister

26 November 2007, 0:00 GMT
King Abdullah has appointed the president of the free trade area in Aqaba as the new prime minister of Jordan, less than a week after the country’s parliamentary elections.
Wataniya keeps Tunisiana stake after court ruling

26 November 2007, 0:00 GMT
Wataniya has kept its 50 per cent stake in Tunisiana, following a court ruling preventing its partner in the joint venture from seizing total control of the company.
Etisalat Misr signs up 3 million customers ahead of target

24 November 2007, 0:00 GMT
Etisalat Misr, the Egyptian subsidiary of the UAE's Etisalat, had 3 million customers at the end of September, meeting its end-of-year target three months early.
Qtel invests to fend off rival operator

24 November 2007, 0:00 GMT
Qtel is investing heavily in its telecoms network to try to keep as much of its market share as possible, ahead of the award of a second mobile phone licence.
SAP ditches local partners in Middle East

24 November 2007, 0:00 GMT
SAP, the world's largest business software company, has ruled out signing any more distribution deals with local partners in the region and will instead distribute its software itself.
Mobile profits fall as Egyptian customers increase

23 November 2007, 17:09 GMT
The introduction of a third operator into the Egyptian mobile phone market is hitting profits despite the rapid rise in user numbers.
Iran’s central bank warns of greater inflation

21 November 2007, 0:00 GMT
Iran’s central bank is warning that the country faces a further acceleration in inflation, according to media reports in Tehran.
Islamic Action Front defeat in Jordan poll

21 November 2007, 0:00 GMT
The Islamic Action Front claims there was widespread corruption in the voting process, after it suffered a heavy defeat in Jordan’s parliamentary elections.
Jordan to sign free trade deal Canada

18 November 2007, 0:00 GMT
Jordan will sign a free trade agreement with Canada before the end of this year, according to Canada’s Trade & Industry Minister David Emerson.
Vivendi pulls out of talks to buy Oger Telecom

18 November 2007, 0:00 GMT
French telecoms group Vivendi has pulled out of talks to buy a 33 per cent stake in Oger Telecom, the telecoms subsidiary of conglomerate Saudi Oger.
Islamic Action Front to participate in poll

17 November 2007, 0:00 GMT
The Islamic Action Front (IAF) has decided to take part in Jordan’s parliamentary elections on 20 November, even though it has warned of government discrimination against its candidates.
Saudi Telecom and Etisalat bid for Kuwait licence

17 November 2007, 0:00 GMT
Saudi Telecom and Etisalat, the two largest telecoms companies in the Middle East, have both bid for Kuwait’s third mobile phone licence.
Kuwait telecoms duopoly faces up to competition

16 November 2007, 16:39 GMT
Dominance in the Kuwaiti market has proved highly lucrative for mobile phone operators Zain and Wataniya, but profits are likely to fall when a third operator enters the market next year.
Dilapidated Lebanese mobile networks need 18 months of repairs

16 November 2007, 0:00 GMT
Whoever buys Lebanon’s two mobile phone operators when they are privatised in February next year will have to spend 18 months rebuilding them because they have become so dilapidated, according to one of the country’s leading telecoms firms.
IT services market grows 9.6 per cent a year

16 November 2007, 0:00 GMT
Morocco’s IT services market has grown at 9.6 per cent a year since 2001, according to IDC, a technology consultancy firm.
Middle East funds approach US private equity group

16 November 2007, 0:00 GMT
A number of Middle East sovereign wealth funds have approached Colony Capital, a US private equity company, to discuss taking a strategic stake in the company.
Qtel results reveal price paid for Asiacell

16 November 2007, 0:00 GMT
Wataniya, the Kuwaiti telecoms operator, was paid just $107m for its 40 per cent stake in Asiacell, the Iraqi mobile phone operator it was forced to sell earlier this year after it fell out with the other shareholders.
Budget deficit forecast soars

15 November 2007, 0:00 GMT
Jordan’s government is raising its budget deficit forecast for 2007 by almost 50 per cent after weeks of record oil prices.
Consolidated Contractors loses court appeal

15 November 2007, 0:00 GMT
Consolidated Contractors Company (CCC), one of the largest contractors in the Middle East, will have to pay $52m to a former business partner, after the UK’s House of Lords said it had no grounds to appeal an earlier court ruling.
New oil minister wins parliamentary approval

15 November 2007, 0:00 GMT
President Mahmoud Ahmadinejad’s choice of oil minister has won approval from the Iranian parliament, with a comfortable majority of votes.
Batelco links final towns

26 October 2007, 16:30 GMT
Batelco will have connected every property in Bahrain to its broadband network by August 2008.
Business software: Competition shapes market

28 September 2007, 12:54 GMT
Sales of business software are booming in the Middle East, and firms are having to adapt their strategies to catch up.
Casablanca woos global firms to offshore call centres

28 September 2007, 12:11 GMT
When a Paris-based customer of US IT company Dell phones to resolve a problem with his PC, the call is no longer answered by the company’s southern European headquarters in Montpellier, in France. Instead, the call is diverted to a call centre about 1,200 miles away in Casablanca, the commercial capital of Morocco.
Introduction - Zain versus Etisalat

28 September 2007, 11:51 GMT
A series of parties were held across the region in September to celebrate the relaunch of Kuwait-based mobile phone operator MTC as Zain. In Sudan, the celebrations were happy and raucous. The live satellite link from Kuwait showed regimented groups of dignatories in their dishdashes staring impassively at a stage. The Jordanian party was more relaxed while the Bahrainis were entertained by a fireworks display. If the relaunch of the telecoms operator was intended to show how far the ...

MEEDWill Hadfield

MEED
Will Hadfield