Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Saad al Barrak resigns from Zain

2010-02-04

The National: The chief executive officer of Kuwait’s Zain telecom giant, Saad al Barrak, has resigned, the company said in a statement posted on the Kuwait Stock Exchange website.The statement said Mr Al Barrak has submitted his resignation to the board of directors, which will meet to consider it. No reason was given for the surprising resignation. Mr Al Barrak, who is also deputy chairman of Kuwait’s largest listed company, has been with Zain since 2002 and has been the main driving force behind the firm’s massive expansions and acquisitions. Over the past few years, Zain expanded rapidly by paying billions of dollars in huge acquisitions and is currently operating in 23 countries in Africa and the Middle East. The company customer base has risen from one million subscribers to about 72 million now.  The acquisitions started in 2005 with the purchase of the African assets of the Dutch Celtel for $3.5 billion (Dh12.85bn). Zain’s latest acquisitions have included winning a third licence in Saudi Arabia for $6.1bn and the purchase of assets in Morocco. As of today, its capitalization stands at about $13bn. It is one of three mobile operators in Kuwait, along with National Telecommunications Co (Wataniya) and Kuwait Telecommunications Co (VIVA). Qatar Telecom owns a majority stake in Wataniya while VIVA is run by the Saudi Telecom Co.

 


 

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013