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Zain and Nawras Show Interest in WAC

Middle East : 18 February

Middle East telecom companies Zain and Nawras Telecom have expressed their curiosity in the Wholesale Applications Community (WAC).

CTO and Strategy Officer at GSMA, Alex Sinclair, said: “There is a huge opportunity for operators and we are already seeing interest from Zain and Nawras. As we did not have time to inform operators globally, there are a lot more expected to come on board.”

The 24 operators who cover access to three billion plus customers throughout the world have the backing of GSMA, the international telecom operators’ group, and three of the world’s chief device makers – Sony Ericsson, LG Electronics and Samsung. The coalition was created to put up an open stage that delivers applications to each and every one mobile phone users.

Sinclair said, “This is not a regional initiative, therefore operators from across the globe will participate. In terms of the UAE, we haven’t reached there yet, but it’s just a matter of time.”

He emphasized that the Middle East has a “huge” promise for growth of applications, which is turning out to be an essential part of the mobile entertainment section.

Andrew Bud, Chairman of Mobile Entertainment Forum said, “At least 20 per cent of the mobile entertainment revenue internationally comes from applications. It has exploded as a new category and everyone in the value chain wants to benefit.”

Paul Holdsworth, Staff Writer, Gulf Jobs Market News

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
18 February

QInvest Plans to Enter Huge Indian Market through Ambit Investment

QInvest, Qatar’s prominent leading investment bank, has decided to make a planned investment for a 25% stake in Ambit Group, one of India’s leading investment banks, depending on regulatory consent. Shahzad Shahbaz, QInvest’s CEO, will become a member of Ambit’s board.
This will mark QInvest’s first ever investment in India and emphasizes the bank’s concentration on [...]

18 February

Bharti’s Attempt for Zain Possessions in Nigeria

Bharti Airtel’s strategy to acquire most of the African assets of Kuwait’s Zain for $10.7 billion (Dh39.3 billion) may face hurdles.
Econet chief executive officer Strive Masiyiwa said that the Airtel’s plan can’t include Zain’s Celtel because of an ownership dispute with Econet Wireless Holdings.
Masiyiwa said that Zain Nigeria was not offered for sale.
For Bharti, problems [...]

18 February

Shell to Support Kuwait Gas Field Development

Kuwait Oil Company (KOC) and Shell revealed an Enhanced Technical Service Agreement to build a 60 year affiliation for development of the Jurassic Gas fields.
Due to tough reservoir conditions, unusual geological configuration and complicated gas compositions the project is difficult as well as demanding. Therefore, as per contract, Shell will depute technical professionals to KOC [...]

17 February

Stronger Capital Markets Required for the Growth of Gulf Sukuk

Yavar Moini, senior advisor at Morgan Stanley, commented that in order for the sukuk bond sector to grow the GCC needs stronger capital markets as current demand is mainly driven from Southeast Asia.
As UAE and especially Dubai have had credit related issues in the past the leader of the industry is currently Malaysia. Thailand and [...]

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