The latest Zain Business News Iraq – Mobile phone service, networks, Asiacell, Korek Telecom & more – brought to you by Iraq Business News
By John Lee. Reuters reports that an Iraqi appeals court has upheld a ruling that mobile phone operator Zain Iraq must pay a $187-million tax bill related to the acquisition of a rival Iraqna from Egypt's Orascom Telecom in 2007. Unusually, says the report, the government tried to levy capital gains tax worth $187 million on […]
The Iraqi Communications and Media Commission (CMC), in its capacity as the sole entity responsible for regulating telecommunications, broadcasting and information Services in Iraq, is initiating the process of launching the Mobile Number Portability service (MNP). In line with their respective obligations, Asiacell, Korek and Zain, the three Iraqi mobile telecommunications operators, are initiating the […]
eServGlobal has announced the commercial launch of mobile money services with Zain Iraq. According to a statement from the company, the service was soft-launched in January and has already attracted strong interest. The service is called 'Zain Cash' and is offered by Iraq Wallet, which is an authorised company from the Central Bank of Iraq (CBI). […]
By John Lee. Iraq has invited interested companies to submit proposals to run a fourth mobile phone service in the country. The state-run Communication and Media Commission (CMC) said the planned license will run for 15 years, with the possibility of renewal. Interested companies have until 20th November to submit papers. Iraq's existing three mobile […]
The United Nations Development Programme (UNDP) concluded a series of workshops training over 100 Iraqi youths on creativity and innovation in transforming ideas into businesses and social projects. As part of UNDP’s Innovation for Development initiative and in collaboration with Zain Iraq, the workshops were held in Baghdad (1-3 October), Basra (15-17 October) and Erbil […]
By John Lee. In a statement to the markets covering the first nine months of the year, Zain Group said that the implementation of a new 20 percent sales tax on mobile servicesin Iraq, as well as wide-ranging tax increases on other sectors in the country, that commenced 1 August 2015, have hit spending on […]
By John Lee. In its financial results for the six months ended 30 June, 2015, Zain Group gave the following update on its operations in Iraq: "Zain Iraq launched 3G services at the beginning of the year and is very active in rolling out 3G services across the country that saw data revenues grow 17% […]
By John Lee. Iraq’s Communication and Media Commission (CMC) has scrapped a $100-million fine imposed on mobile phone operator Zain Iraq. The telecom watchdog had claimed that Zain Iraq sold mobile phone SIM cards without its permission. Reuters reports that a CMC committee considering the case decided not to impose the fine. (Source: Reuters) (Dollars […]
By John Lee. Reuters reports that Zain Iraq will list on the Baghdad Stock Exchange (ISX) on 23rd June. Under the terms of its 15-year licence awarded in 2007, the company, along with Iraq's two other mobile phone firms, was required to float at least a quarter of its shares on the ISX by August […]
By John Lee. Kuwait's Zain Group has reported a 26.7 percent fall in first-quarter profit on Tuesday, as its Iraq business suffered from political instability and intense competition. Zain Group CEO, Scott Gegenheimer (pictured) noted: “The quarter reflected mixed results in what were quite challenging conditions in several of our key markets, especially Iraq where […]
By John Lee. Zain Iraq has applied for a listing on the Baghdad stock exchange (ISX). As part of their 15-year licences awarded in 2007, Iraq’s three mobile network operators -- Zain, Asiacell and Korek -- were required to float at least a quarter of their shares and join the Iraq Stock Exchange (ISX) by […]
By John Lee. Zain Group has announced that Wael Ghanayem, Chief Financial and Operating Officer of Zain Iraq will return to Zain Group to become part of the Group’s executive leadership in implementing its new strategic direction of transforming into an integrated digital mobile operator. In addition, Mr. Ghanayem will continue to support Zain Iraq, […]
