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Stronger EGP will support higher profits and lower debt cost
The Brand Finance report listed the top telecom companies in ranking of the value of their brands. The report included only one Egyptian company, Telecom Egypt, which came in the 170th spot amongst 500 companies included in the report. AT&T saw its brand value grow 45% this year to $87 billion, overtaking Verizon as the …
Brand Finance indicated that Huawei retains the top spot in the table with a brand value of $25bn after growing 28%. The Chinese giant persevered with its efforts to raise its brand profile worldwide. After successfully implementing global marketing campaigns, which include celebrity endorsements, its brand recognition subsequently increased to 81% in 2016, up from …
Internet pioneer Yahoo appears close to a deal to sell its core online assets to telecom giant Verizon. Several media reports hinted an official announcement was likely to be made in the course of Monday.
Telecom Egypt has acquired nearly 60% of telecommunications profits without a mobile licence
Telecom Egypt’s history extends for more than 150 years, and being the first entity to provide communications solutions in the local market, it served as a liaison between Egyptian society and technological development. 1854 was the beginning of the telecommunications sector activity in Egypt and the establishment of the first telegraph line linking Cairo and …
By Mohamed Alaa El-Din Telecom Egypt (TE) allocated EGP 3bn for investments in the infrastructure sector this year, with an increase of EGP 500m than 2014, said Mohamed El-Nawawy, CEO of TE, to Daily News Egypt. According to Nawawy, revenues from marine cables amounted to EGP 1.2bn, with the support of two giant projects with …
By Mohamed Alaa El-Din The Independent Trade Union of Workers at Telecom Egypt (TE) filed four lawsuits to stop the disassociation of TE from Vodafone in order to protect workers’ rights and the 5% lobby of minority shareholders. The case has been registered in Cairo and the first hearing was set for the 9 April. …
ITIDA and IBM launch 2nd phase of joint-initiative to help telecom SMEs enter new markets
The Ministry of Communications aims to implement unconventional solutions to prompt growth for the telecommunications and information technology sector through adding services within projects in partnership with the private sector. The ministry will use the opportunity represented by the consolidated license to restructure telecommunications, achieve a balance between companies, and expand competition for the benefit of the consumer.
Cellcom was forecast to earn ILS 86m shekels on revenue of ILS 1.18bn, according to a Reuters poll.
Q1 profit AED 2bn vs AED 1.8bn a year ago
Reuters – Zain is being sued for $4.5bn over its 2007 acquisition of an Iraqi telecom operator, the Kuwaiti firm said in a bourse statement on Sunday. Zain bought Iraqna for $1.2bn from Orascom Telecom in December 2007 after the Egyptian firm dropped out of the running for a long-term mobile licence in Iraq. The …
Sawiris had unsuccessfully attempted to buy a stake in Telecom Italia in 2012
The licence would allow telecommunication companies to operate fixed-line and mobile networks, which would in turn allow Egypt’s fixed-line monopoly Telecom Egypt to offer mobile services.
Telecom Italia, controlled by Spain’s Telefonica together with three Italian financial companies, is carrying out a 4-billion-euro ($5.5 billion) plan to cut debt and fund investments as it seeks to reverse years of sluggish growth.
Reuters – Telecom Egypt has sold rights for the use of part of its infrastructure to a subsidiary of Egypt’s Orascom Telecom Media and Technology Holding (OTMT) , bringing the subsidiary closer to launching a submarine cable network. Once completed the Middle East and North Africa Submarine Cable Systems (MENA) fibre optic network will link up Italy, Egypt, Saudi Arabia, Oman and India, the company said in an emailed statement. MENA, which …
The three mobile companies pay nearly EGP 1.5bn annually to the NTRA in return for licences granted, in addition to the 1% of total revenues paid to support the Information Technology Industry Development Agency, or “ITIDA”.
Reuters – Egypt’s telecoms regulator said it had agreed to issue a unified licence allowing a company to operate fixed-line and mobile networks, and had sent the details of its decision to the cabinet for final approval. The move would allow landline monopoly Telecom Egypt to offer mobile services. “(The decision) will achieve needed development and balance in Egypt’s …
Reuters) – Egypt’s telecoms regulator said on Thursday it would issue a licence allowing a company to operate fixed-line and mobile networks in the coming weeks, a move that would allow TelecomEgypt to offer mobile services. Hesham el-Alaily, head of National Telecommunications Regulatory Authority, said the licence was nearly ready. “We are in the final stages,” he …
Etisalat is the bigger player in both of these segments and is seen by analysts as having more to lose from the introduction of the service.
The company reported a 16% increase in revenue and a 2.3% rise in net profit in the third quarter compared with the same period last year.
The mobile operator is still struggling with net losses in the second quarter of 2013
The Italian government preference might stand between Sawiris and Telecom Italia
Mohamed Elnawawy, managing director and CEO of te, explained that this new service will give the company a good opportunity to grow, adding that it will have a chance to compete in 85% of the market, from which they are currently excluded, with the mobile license.
Elnawawy stated: “Egypt’s mobile service providers borrow and use Telecom Egypt’s infrastructure for the purpose of providing telecommunication services on the domestic market.
Internet service provider managing director says government will not repeat 28 January’s nationwide cut-off of internet services
In March, it had told service providers to work with the developers of such applications to “quickly meet the regulatory conditions.”
Orascom Telecom shares dropped 2.6% to 4.58 EGP at close on Monday