Tuesday, 21 May 2013 18:04
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DUBAI: Etisalat's Nigeria affilate has signed a $1.2 billion loan with 13 Nigerian banks, the United Arab Emirates' No.1 telecom operator said on Tuesday.The medium-term facility will be used to refinance an existing $650 million loan and bolster Etisalat Nigeria's network, Etisalat said in a statement to the Abu Dhabi bourse.Etisalat owns a 40 percent stake in its Nigeria affiliate, which is formally known as Emerging Markets Telecommunications Services Ltd (EMTS).EMTS will acccount for 3.7 percent of Etisalat's revenue in 2013, HSBC forecasts in a research note.Copyright Reuters, 2013
LONDON: Britain's Royal Mail more than doubled annual profit on the back of an online shopping boom, providing a timely boost as it plans for a stock market listing this year.In a marked turnaround for a business that has been fighting to adapt to a more competitive market and falling letter volumes, Royal Mail reported adjusted operating profit of 403 million pounds ($613 million) in the year to March 31, against 152 million pounds a ...
LONDON: British government bond prices rallied on Tuesday after data showed inflation fell more sharply than expected last month, potentially giving the Bank of England greater scope to resume gilt purchases.Consumer price inflation sank to 2.4 percent from 2.8 percent, its first fall since September, though it is still above the central bank's target and is likely to rise again in coming months.Ten-year gilt yields fell 4 basis points on the day to 1.88 percent, ...
KUALA LUMPUR: CIMB Group, southeast Asia's fifth-largest bank by assets, posted a 37 percent jump in first-quarter net profit, boosted by the sale of an insurance business, and warned of slowing demand for the region's exports.CIMB has a string of banking assets in almost every country in southeast Asia, which is relying increasingly on robust domestic demand in the face of weakening exports and an uneven global economic recovery."We remain mindful of macroeconomic challenges ahead ...
OSLO: Weak economic conditions outside Norway's borders could last until 2015 and Europe could emerge from its current economic crisis only after 2020, the governor of the Norwegian central bank said on Tuesday."When it comes to our view of the international economic situation (it) may last until 2015. The eurozone is struggling. It could be in the next decade before Europe is out of its difficulties," Oeystein Olsen told a parliamentary committee.He added that as ...
BERLIN: German software giant SAP said on Tuesday it intended to employ hundreds of people globally with autism as software testers and programmers over the next seven years.The company, which has already launched pilot projects in India and Ireland, said the move aimed to find workers "who think differently", leading to innovation.By 2020, one percent of SAP's currently 65,000-strong workforce is expected to be affected by autism, a company spokesman told AFP. In India the ...
TOKYO: Japanese mobile operator Softbank said Tuesday it planned to raise $3.9 billion through a record bond issuance in June to finance its proposed takeover of US firm Sprint Nextel.Softbank, which is under pressure from Sprint shareholders to raise its bid, will sell five-year debt to Japanese investors after a similar issuance worth 300 billion yen in March, a company spokeswoman said."The latest bonds will finance our planned takeover of Sprint and other issues," she ...More Articles...
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