The latest Zain Business News Iraq – Mobile phone service, networks, Asiacell, Korek Telecom & more – brought to you by Iraq Business News
By John Lee. Zain Iraq plans to finally go ahead with its stock market listing by early 2013 at the latest, according to a report from Reuters. Hisham Akbar (pictured), Zain's deputy chief executive and chief operating officer, told reporters on Tuesday that the company still needs to convert to a joint stock company in […]
Kuwaiti telecom operator Zain will continue its fight against a substantial fine imposed on its Iraq operations despite some of the unit's bank accounts being frozen. Zain Iraq, the country's number one mobile operator with an estimated 53 percent market share, was hit with the fine of $262 million in February 2011 for putting 5 […]
Iraq's three main mobile phone companies -- Zain, Asiacell and Korek -- have appealed against a communications regulator decision to fine them for failing to list on the local stock exchange, reports Reuters. Iraq's Communications and Media Commission (CMC) fined the companies for missing the August 2011 deadline to list on the local bourse, which […]
By John Lee. Zain Iraq has had its funds seized in all Iraqi banks until it pays a $262 million fine for selling 5 million SIM cards without permission, Bloomberg reports. “We have warned them to pay the fine,” Ahmad al-Omari, a member of the Communications and Media Commission’s trustee board, told the news agency. […]
By John Lee. Vodafone and Zain have jointly announced a Partner Market agreement that will significantly expand Vodafone’s Partner Market presence in the Middle East and provide Zain customers with greater support in Vodafone’s global footprint. Under the non-equity partnership agreement, Vodafone will work with Zain companies in Saudi Arabia, Bahrain, Kuwait, Jordan and Iraq […]
By John Lee. Zain has confirmed rumours that it is close to sealing a deal with Vodafone that would allow the global telecoms group to expand access to networks across countries including Saudi Arabia, Iraq and Bahrain. According to the report from Reuters, Zain has said that it is "at an advanced stage in negotiations […]
By John Lee. Vodafone, the world’s second-largest mobile-phone company, is said to be nearing an agreement with Zain to expand access to networks across countries including Saudi Arabia, Iraq and Bahrain. According to a report from Bloomberg, the deal would let UK-based Vodafone lower roaming fees and share handset- purchasing costs. Vodafone is seeking to tap […]
By John Lee. Following delays in its required stock market listing, which resulted in the imposition of fines by Iraq's communications regulator, Zain Iraq has announced key changes in its senior management, starting with the CEO Emad Makiya, who has stepped down from his post on Wednesday: Zain Iraq, an operating company of Kuwait's Mobile […]
By John Lee. Asiacell has become the first mobile operator to reach an initial agreement to list on the Iraqi bourse, according to a report from Reuters. The company, part of Qatar Telecommunications, along with its two rivals Zain Iraq and Korek, were required to float their shares on the stock market as a condition […]
By John Lee. Following its recent fine on mobile phone operators Asiacell and Korek, Iraq's communications regulator is to fine Zain Iraq $12,864 a day since September of last year for failing to list on the country's stock exchange, according to Reuters. The three companies are required to list on the local stock exchange as […]
Iraq's communications regulator has decided to fine mobile phone operator Asiacell $8,500 per day since September 1, 2011 for failing to list on the local stock exchange, according to a report from Reuters. Ahmed Alomary, commissioner of Iraq's Communications and Media Commission (CMC), also told the agency that the regulator had also decided to fine […]
Iraq's biggest mobile phone operator, Zain Iraq, has invested about $20 million in its efforts to list on the local stock exchange, according to a report from Reuters. Chief executive Emad Makiya told the agency: "We have invested a lot of money. We have invested over $20 million in this. We have hired lawyers, we […]
