Tag Archives | Zain

The latest Zain Business News Iraq – Mobile phone service, networks, Asiacell, Korek Telecom & more – brought to you by Iraq Business News

Omantel Buys 10% of Zain Group

Oman Telecommunications (Omantel) has announced that it will purchase 425.7 million of Zain‘s treasury shares in a cash transaction at an offer price of KWD 0.60 per share – subject to regulatory approval. Once complete, Omantel will own a minority stake in Zain Group of approximately 9.84% in outstanding common shares. The total consideration of […]

Mobile Tech helps to Transfer Cash to Rural Families

Many vulnerable rural families in Iraq can now benefit from a safer, more secure means of receiving income thanks to mobile money transfer technology adopted for the first time by the UN’s Food and Agriculture Organization (FAO) as part of a cash-for-work programme aimed at rehabilitating agricultural infrastructure and land. The programme, which is funded […]

Ericsson extends Managed Services deal with Zain

Ericsson has been awarded an extension of its Managed Services contract with Zain Iraq until 2021, after successfully providing Managed Services for Networks, IT and value-added services to the operator since 2012. Under the terms of the new contract, Ericsson strengthens its role as a trusted business partner by supplying a Service Operation Center and […]

Zain expects Improved Performance in Iraq

By John Lee. Zain Group Vice-Chairman and Group CEO, Bader Al-Kharafi (pictured), has said that he anticipates improved performances in Iraq, “where several tax and litigation issues have been resolved and the new leadership there can now focus on driving the business.” In its results announcement for Q1, the company added: “Despite the initiation of […]

From Bombs to Bytes: How Tech can Transform Iraq’s Economy

By Ashley Goodall. From Bombs to Bytes: How tech can Diversify and Transform Iraq’s Economy One of the big hits at this year’s Iraq Britain Business Council (IBBC) conference was the tech panel (pictured) with four leading Tech companies using tech to deliver their unique services: Zain Telco, launching Zain Cash, Restrata who offer cyber […]

Back to the Future: The Restoration of Iraq, and British Expertise

By Ashley Goodall. Back to the future.  The restoration of Iraq and British expertise. Iraq has been in the news for a generation and our perceptions have been coloured by conflict and the near destruction of the Middle East’s most wealthy and civilised country. In the 1970’s Iraq was not only a secular and relatively […]

Zain Group names new CEO

By John Lee. At its annual Ordinary General Assembly in Kuwait on Monday, Zain Group appointed a new Board of Directors for the coming three years. Scott Gegenheimer, who has served as CEO for four-and-a-half years, has been moved to the new role of CEO of Operations, while Bader Al-Kharafi (pictured) becomes Vice-Chairman and CEO. […]

Asiacell Revenues Fall 14%

By John Lee. Qatar-based Ooredoo has announced that its Iraqi unit Asiacell has maintained its No.1 revenue market share position, but its revenues have fallen 14 percent: In its FY 2016 Earnings Statement the company said: “Despite economic and political challenges in Iraq, Asiacell maintained its revenue and data market leadership. Asiacell successfully reactivated service […]

Zain to pay $94m to settle Iraqna Tax Case

By John Lee. Reuters reports that Zain Iraq is to pay $94 million to settle a tax case related to the 2007 acquisition of rival operator Iraqna from Egypt’s Orascom Telecom. Iraq’s General Commission of Taxes (GCT) claimed Zain Iraq owed $187 million in capital gains tax due on its $1.2 billion purchase of the […]

IBBC Announces Changes to Leadership Team

The Iraq Britain Business Council (IBBC) has today announced changes to its leadership team. Former IBBC Executive Chairman Baroness Nicholson of Winterbourne is now President of the 54-member organisation. Baroness Nicholson also serves as the Prime Minister’s Trade Envoy to Iraq, Azerbaijan and Turkmenistan. Replacing Baroness Nicholson as Chairman is Mr Mohammed Charchafchi, Chairman and […]

Sales Tax continues to hamper Zain Iraq

By John Lee. Zain Iraq has said that the exceptional socio-economic circumstances in Iraq have hampered the company’s financial performance, with revenues for the period reaching $804 million and EBITDA reaching $284 million. Net income amounted to $29 million, with the EBITDA margin standing at 35.3 percent. Data-related revenues formed 9 percent of overall revenues […]

Zain Iraq and Ericsson Extend Managed Services Deal

Zain Iraq and Ericsson have signed a three-year extension of their network and IT operation and optimization managed services agreement. Under the extended agreement, Ericsson will continue to optimize, transform and manage network and IT operations for Zain’s nationwide 3G mobile network in Iraq, which currently includes over 4,200 sites across the country. This agreement […]