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LATEST NEWS

MobiNil reports 8% increase in revenues
As a result of the strong subscriber growth, Egyptian cellco MobiNil witnessed 8% year-on-year increase in its revenues with EGP10.8 billion (USD1.9 billion) for 2009. 9% increase in the EBITDA has also been reported going up to EGP5.1 billion while net income came in at EGP2 billion, up 3%. The subscriber base of the company stood at 24.1 million at December 31, up from 19.2 million twelve months previously.

Nokia’s Comes with Music service released in Middle East
Nokia’s Comes with Music service has been released by the firm in the Middle East, available in the region next month along with its new X6 handset. Users will have access to a music catalog of an estimated four million tracks from international and regional labels by purchasing the new Nokia X6 16 GB Comes With Music edition.

Thuraya to market mobile satellite handhelds in Egypt
Dubai-based Thuraya has signed an agreement with i2, one of the largest telecom marketing firms in the Middle East, to market its mobile satellite handhelds in the Egyptian market.

MobiNil objects suggested cut in interconnection rates
According to a media report, MobiNil, Egypt’s leading mobile operator in terms of subscribers has proclaimed that it might accept a drop in interconnection rates, but that levels suggested by the regulator were ‘not reasonable’.

Orascom Telecom plans a buyback of 23.59 million shares
Orascom Telecom, Egypt leading mobile operator by subscribers, is planning to buyback nearly 23.59 million shares between November 2 and January 30.

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