The latest Zain Business News Iraq – Mobile phone service, networks, Asiacell, Korek Telecom & more – brought to you by Iraq Business News
By John Lee. An Iraqi court has reportedly rejected a $4.5-billion (5.4 trillion Iraqi dinar) lawsuit against Zain. The case centers around Zain's $1.2-billion acquisition of Iraqna from Egypt's Orascom Telecom in December 2007, after the Egyptian company dropped out of the running for a long-term mobile licence. According to Reuters, the Kuwaiti firm then […]
By John Lee. In its full-year results announced on Sunday, Zain Group CEO Scott Gegenheimer (pictured) said the escalation of political instability in Iraq in 2014 saw several million people displaced internally coupled with Zain Iraq enduring frequent temporary network interruptions and associated higher network operational costs: "These exceptional circumstances adversely affected the operation’s financial […]
By John Lee. Zain Group has announces that its mobile operation in Iraq launched 3.9G voice and data services across the country on January 1, 2015. The launch came following the finalization of an agreement with Iraq’s Communications and Media Commission (CMC) on November 10, 2014, which culminated in Zain Iraq making an initial 25% […]
By John Lee. Zain Iraq is to launch its 3G mobile phone services in January. Reuters reports that Zain, along with rivals Asiacell and Korek, eventually agreed to the government’s terms and formally signed the contracts at a ceremony in Baghdad on Monday attended by prime minister Haider al-Abadi. Zain Iraq recently paid the first […]
By John Lee. Reuters reports that Iraq’s mobile phone companies have agreed to demands from the country's Communications and Media Commission (CMC) to pay $307 million each for radio spectrum to run 3G mobile phone networks. Current 2G services are supplied by Zain Iraq (a unit of Kuwait’s Zain), Asiacell (a subsidiary of Ooredoo) and Orange […]
By John Lee. Iraq is reportedly seeking $307 million [358 billion Iraqi dinars] from each of the country's three mobile phone operators for spectrum to run 3G (third-generation) services. According to Reuters, all three operators – Zain Iraq (owned by Kuwait's Zain), Asiacell (owned by Ooredoo) and Korek (Orange) – paid $1.25 billion each for so-called "technology-neutral" […]
By John Lee. Tarek Saadi, President of Ericsson's North Middle East Region, has said his company remains bullish on Iraq despite the threat of terrorism. Speaking on the sidelines of a trade event, he said: “Iraq is one of the more important markets for Ericsson in the Middle East ... We still believe in the […]
By Patrick M Schmidt. Despite more than a three year delay and the current security situation in Iraq, Zain has announced that they still intend to commit to their initial public offering. "Against the backdrop of security and safety issues, Zain Iraq is today mainly focused on maintaining its network and providing much needed mobile […]
By John Lee. Kuwait's Zain Group has announced that an Iraqi court has lifted a freeze on future revenue of Zain Iraq. But the company added that previously frozen revenues remain blocked, after a $4.5 billion lawsuit against the Iraqi firm was dismissed this month. In April, we reported that Zain was being sued for […]
AMAR is working alongside Iraq’s Ministry of Health to help fight an outbreak of polio – the first in 14 years -- helping the Ministry step up its vaccination campaign to prevent the disease from spreading. On March 30th, officials from the World Health Organisation confirmed a 6 year old boy in Baghdad had contracted […]
By John Lee. Mobile operator Zain has hired Melak Investments and Rabee Securities as the leading adviser and broker to lead the initial public offering (IPO) of its shares. According to a report from The National, Melak Investments is run by the Iraq-born former Franklin Templeton asset manager Shwan Taha, who also founded Rabee Securities. Last […]
By John Lee. The Iraqi government has announced that it will shortly offer licenses to mobile operators to give customers 3G internet service, AFP reports. The colossal increase in mobile phone ownership in Iraq post 2003 has been one of the notable developments in the country, a nation which still has a highly limited fixed-line network. Mobile […]
