KUWAIT BUSINESS

March 8, 2007 at 7:43 pm | Posted in Arabs, Economics, Financial, Globalization, Middle East, Research | Leave a comment

Several Kuwait Firms Record Profit In Sale Of Wataniya Stake zawya

The Weekly Newsletter Feb 28 – Mar 6, 2007

Tue, 6 Mar 2007

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Editor’s Message:

Regional telecommunications operators are not at all short on ambitions. When acquiring 51% of Kuwait’s Wataniya mobile phone company this week, Qatar Telecom said it wants to be one of the world’s top 20 telecommunications companies by 2020.

Qtel’s new aim befits a company that just doubled its subscriber base through acquisition; it also echoes ambitions of larger peers such as MTC Group, which said a few weeks ago that it wants to become one of the top ten global sector players by 2011. While we are committed to monitor the global growth of our telecoms operators and their ability to make good on lofty goals, we note for now that the Wataniya transaction brought very good financial gains to the Kuwaiti companies that sold stakes to Qtel.

For the coming week, zawya is sponsoring the Islamic Funds Asia 2007 in Malaysia, Kuala Lumpur from 12th to 15th of March 2007 and the EIConnect (Middle East) 2007 in Bahrain, Manama on 14th and 15th of March 2007. We look forward to seeing you there.

Enjoy this week’s business news.

Editorial Team

THIS WEEK’S TOP STORIES

Several Kuwait Firms Record Profit In Sale Of Wataniya Stake

Zawya Dow Jones Newswires – 06Mar 13:58GMT

Several Kuwait companies said Saturday they expect to make profit from the sale of their stakes in National Mobile Telecommunications Co., or Wataniya Telecom.

AGRICULTURE NEWS

UAE: Marmum Dairy to boost annual production by 2.5 million litres

UAE: genetically modified foods hard to trace

COMMODITIES NEWS

Gold prices unlikely to fall in near future

UAE: DMCC awards DGD status to Istanbul Gold Refinery

CONSTRUCTION & REAL ESTATE NEWS DIB and Kharafi Group AED 750 million agreement to finance Jebel Ali Airport

Amlak Launches Islamic Home Finance Firm In Egypt

EQUITIES NEWS Contrasting Bourses & Future Market Trends Key to Successful IPO

Gulf Cooperation Council share issues raised Dh27.4bn in 2006

Oman: Onic Holding acquires 20pc stake in Canadian firm

Saudi Shares To Extend Positive Run

Kuwait market recorded 2.68% gain in February

FINANCIAL SERVICES NEWS

Al Sagr Gets Insurance License, Plans IPO In 6 Mo

National Bank of Dubai Opens Qatar Branch

GE consolidating ME business

Financial adviser FPI to launch investment bank

Amlak Launch Islamic Home Finance for Egyptian Market

HEALTHCARE NEWS

JBC to build USD200 million-blood derivative factory in Medina

UAE: Joint bid to attract medical meetings

LEGAL NEWS

Syria Raises Foreign Ownership Limit For Private Banks To 60%

Iraq Oil Contract Framework To Be Set By Mar 15

MONEY NEWS French small to medium sized businesses to expand to the UAE

UN atomic agency opens meeting on Iran, North Korea

UAE non-hydrocarbon sector grows to 62.5% of GDP

Israeli court delays release of first report on Lebanon war

OIL & GAS NEWS

Regional gas production only one-fourth of reserves

Abu Dhabi To Spend $11B On Gas Projects

TELECOMS, MEDIA & IT NEWS

MTC To Rebrand Across All Markets

RTA completes 28% of its public services online

Hollywood Studios set to raise $500m

Saudi Arabia: Role of Mass Media Focus of Educational Meet

Oman Mobile roaming in 131 countries

TRANSPORT NEWS

Al Khayala operates flights from Saudi Arabia to Dubai

UAE: The next generation of explorers

TRAVEL & TOURISM NEWS

UAE Kingdom Hotel Invest Buys Malaysian Hotel For $114.2M-IHA

UAE tops region in tourism

France signs deal for UAE island Louvre

Radisson SAS Hotel opens second tower in Dubai Media City

Abu Dhabi sets goals for business tourism growth

Tue, 6 Mar 2007

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