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FINANCIAL NEWS
UAE- Etisalat net profit declines by 8 percent
27 Apr 2016
(MENAFN) UAE telecom Etisalat proclaimed that its net profit declined by 8 percent to USD 545mn in Q1 of 2016 due to Forex losses.
Moreover, revenues jumped by 1 percent to USD 3.5bn, influenced by unfavorable exchange rate movement, basically in Morocco.
In addition, the company is the second largest Arab telecoms firm after Saudi Telecom in market value, which has 165mn customers in 17 nations.
On the other hand, the UAE government which owns a 60 percent share in the firm, decided to open it up to foreigners for the first time.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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