The telco said an impairment loss of BD20.3 million on its investment in its associate company in Yemen was compensated by a gain of BD27.2 million in Q2 from the sale of Qualitynet, the company’s subsidiary in Kuwait.
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…
12 | the publication reaches you by | Bahrain NewsThe telco also posted a 1 percent increase in revenues to BD201.7 million over H1 2018, boosted by strong performance in the home market despite a challenging environment.
Its revenues were supported by a 10 percent jump in fixed broadband and an improvement of 20 percent year-on-year for its data communications business.
Batelco CEO Mikkel Vinter, who joined the company in May, added: “We are focused on evolving and enhancing our solutions for our consumer and business customers with a strong emphasis on digitisation and the delivery of exceptional customer experience.
“Investment in 5G, data centres, enterprise solutions and digital revenue streams are among our key priorities and support our efforts which contribute towards the growth of the digital economy in line with the kingdom’s vision,” he said.
ONE of the largest jewellery retailers, Malabar Gold and Diamonds, has launched a special collection of diamond and…
20 | the publication reaches you by | Bahrain News
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
