(AME Info (Abu Dhabi, United Arab Emirates) Via Acquire Media NewsEdge) April 30--STC GROUP LISTED AS TOP TELCO IN THE MIDDLE EAST: STC Group has been ranked as the leading telecommunications firm in the Middle East, according to a London Financial Times list of the 500 largest companies in the world. The list placed the firms by their market value at the end of March 2012. STC, in their bid to expand further beyond the region, is one of the main participants in submarine cables that link South East Asia with Western Europe and North America, running through the Middle East. STC has stated a strategy to develop and expand its international network, in order to meet the growing demand of various telecommunications and internet services in Saudi Arabia and the region, through linking with the rest of the world.
BARWA SIGNS DEALS WITH QNBN: The Qatari National Broadband Network (QNBN) has signed agreements with Barwa Real Estate to facilitate extending optical fibre cables to the property developer's Barwa Al Khor and Barwa Al Baraha projects, Gulf Times has reported. The deal allows linking and connecting residential and commercial units of Barwa projects to the national broadband network. To be built by QNBN, the new optical fibre broadband network will accelerate the process of providing optical fibre to residential and commercial units around the country and accordingly will enable consumers in Qatar to access the next generation of broadband network services such as Internet Protocol Television (IPTV).
S&P LABEL NOKIA'S RATING AS JUNK: Standard & Poor's has lowered Nokia's rating to junk, the second debt rating company to strip the Finnish mobile-phone maker of an investment grade after losses at its handset business, Bloomberg has reported. The ranking was cut by one step to double-B-plus from triple-B-minus with a negative outlook. Fitch Ratings made the same move last week. "The rating action reflects a downward revision of our expectations for revenues from Nokia's devices and services division in 2012 and a subsequent revision of our profitability and cash flow assumptions," S&P said.
SAMSUNG HIT RECORD HIGH ON SMARTPHONE SALES: A surge in Galaxy smartphone sales has fuelled earnings at Samsung Electronics to a record high in the first quarter, outshining handset rivals such as Nokia Corp, Bloomberg has reported. Net profit nearly doubled from a year earlier to a record 5.05 trillion won ($4.46bn) for the fiscal quarter ended March 31. Operating profit also reached a record high of 5.85 trillion won, which was in line with the company's guidance provided earlier this month. Sales rose 22 percent from a year earlier to 45.3 trillion won. Last February, Samsung's mobile business president, Shin Jong-kyun, told reporters the company eyes 380 million handset sales this year, including 200 million smartphones. The company shipped 330 million handsets in 2011, including 97 million smartphones.
QTEL RIGHTS ISSUE TO HIT MARKET IN MAY: Qtel has said its 40 percent rights issue, which aims at raising QR6.86bn, is to hit the market on May 13, 2012, Gulf Times has reported. The telecom firm is issuing 91.52 million new shares at QR75 per share, which includes a premium of QR65. "The right of subscription shall be given to shareholders, who are registered in the shareholder register with the Qatar Exchange and Abu Dhabi Securities Exchange on Wednesday, May 9," a Qtel spokesman said. The subscription to the issue will close on May 24.
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