Kuwait’s Zain Group reports lower third-quarter profit
EFG Hermes had forecast a net profit of 39.64 million dinars
Dubai - Muslimchronicle
Zain Group’s net income declined 7 percent in the third quarter, which the Kuwait-based telecom group said was largely due to the devaluation of the Sudanese pound.
Zain, which operates in eight countries in the Middle East and Africa, made a net income of 40 million dinars in the three months to September 30, compared with 43 million dinars in the year ago period.
EFG Hermes had forecast a net profit of 39.64 million dinars, while SICO Bahrain forecast a net profit of 39.13 million dinars.
Zain said in a statement on Saturday that unfavorable foreign exchange rates, predominantly due to a 63 percent devaluation in the Sudanese pound, cost the company $148 million in revenue and $20 million in net income.
Consolidated revenue was down nearly 7.2 percent to 259 million dinars.
Oman Telecommunications has said it plans to buy an additional 12 percent stake in Zain after first investing in the Kuwaiti telecom in the third quarter.
Source:Arabnews
GMT 17:13 2017 Tuesday ,19 December
GPIC outstanding staff honouredGMT 05:42 2017 Monday ,18 December
French aerospace giant Thales acquires SIM maker GemaltoGMT 11:23 2017 Saturday ,16 December
Euro zone businesses to start 2018 on near seven-year highGMT 12:19 2017 Thursday ,14 December
Zara owner Inditex profits up on strong salesGMT 16:40 2017 Tuesday ,12 December
BAS employs 95% Bahraini staffGMT 13:36 2017 Tuesday ,12 December
Airbus to pay compensation to 2007 Brazil crash victimsGMT 09:23 2017 Monday ,11 December
Two Lafarge bosses charged over jihadist fundingGMT 06:09 2017 Saturday ,09 December
Germany's BASF agrees oil merger with Russian tycoon's firm
In The Swiss Alps
Five things to know about Davos
Davos - Muslimchronicle
With the World Economic Forum kicking off in earnest on Tuesday, AFP presents a guide to the week-long event in the Swiss Alps. - WHAT IS ‘DAVOS‘? - Davos is shorthand forfighting hate speech
Instagram, Google+ join EU group
Brussels - Muslimchronicle
Facebook's Instagram and the Google+ social network have agreed to join an EU-sponsored group of US internet giants to combat online extremism, EU officials said Friday. EU officials added that
At Sports Court
Russians challenge doping ban
Geneva - Muslimchronicle
Dozens of Russian athletes banned by the International Olympic Committee for life over doping began an appeal against their suspension on Monday at the world's top sports court. The week-long hearing at the Court of Arbitration for Sport (CAS) includesIn New Aid For War-Torn Yemen
Saudi-led coalition announces $1.5bn
Sanaa - Muslimchronicle
The Saudi-led coalition fighting in Yemen has pledged $1.5bn (£1.1bn) in new humanitarian aid for the country. It will also increase the capacities of Yemeni ports to receive aid and cargo shipments, and set up 17 "safe-passage corridors" for humanitarian groups. ThreeParis show pays homage
To 'eternal style' of late Alaia
Paris - Muslimchronicle
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opened Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led his
GMT 08:26 2018 Tuesday ,23 January
Five things to know about Davos
GMT 06:11 2017 Monday ,28 August
Dubai Land Department honours first generation of real estate brokers
GMT 21:30 2017 Wednesday ,01 November
New York Times’ third-quarter revenue up 6.1%
GMT 08:03 2017 Monday ,26 June
Epic struggle of film about Cairo on eve of revolution
GMT 09:54 2017 Sunday ,12 February
Rabat Hosts 17th Annual International Student Forum on Feb. 16-18
GMT 11:09 2017 Friday ,24 November
Berlin police seeking more missing John Lennon items
GMT 10:31 2016 Tuesday ,26 January
'War and Peace': BBC's sexy 'soap opera' shocks Russians
GMT 14:06 2016 Friday ,30 December
Romantic Bedroom Features by Raymond Jimenez to Impress You
GMT 06:34 2017 Saturday ,09 December
Rockets down Jazz for eighth straight NBA win
GMT 09:19 2017 Friday ,17 March
KDP reveals PKK occupies 515 villages in territory
GMT 14:08 2017 Thursday ,20 July
Syrian actors bring cost of war home to NY audience
GMT 23:25 2017 Thursday ,16 February
Pakistan adds 16 new fighter jets to its fleet
GMT 14:37 2016 Monday ,25 July
Froome wins 3rd Tour de France; seals place among greats
GMT 09:32 2017 Thursday ,22 June
Main forest fires in Portugal under control: civil protection
GMT 10:50 2018 Tuesday ,23 January
Saudi university to open driving school for women
GMT 15:30 2018 Monday ,22 January
Bahrain says Hezbollah backs terrorist cells targeting its security
GMT 03:31 2017 Saturday ,07 January
Sharjah launches award for refugee support
GMT 10:06 2017 Tuesday ,18 April
40 Tunisian child are distributed between prisons and shelters
GMT 21:54 2016 Wednesday ,01 June
December 21 - January 18
GMT 16:05 2017 Monday ,24 April
Sharapova's return divides rivals
GMT 08:18 2018 Tuesday ,09 January
'Jumanji' bounds out of the jungle to top North American box offices
GMT 19:03 2017 Monday ,24 April
Qatar Airways see ‘manageable’ decline on US flights amid electronics banGMT 13:50 2012 Sunday ,22 January
Egyptians can now remove any regime
GMT 08:35 2017 Tuesday ,18 April
Lebanese newspapers' headlines on Tuesday 18/4/2017
GMT 07:26 2017 Sunday ,23 July
70 villagers kidnapped in Afghanistan
GMT 09:40 2018 Wednesday ,03 January
McClaren up for new challenge after Spanish lesson in Israel
GMT 10:59 2018 Monday ,01 January
Strangers on a plane: Fox debuts mid-air comedy 'LA to Vegas'
GMT 13:55 2017 Wednesday ,22 February
HH the Emir Chairs Board Meeting of the Supreme Committee for Delivery and Legacy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©
