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Tag: forex
Zain FY profits lower on forex, political problems
2015-02-02 07:41:00| Telecompaper Headlines
(Telecompaper) Zain Group announced net profit of USD 685 million on revenues of USD 4.3 billion in 2014. Zain served 44.3 million customers at the end of the period, reflecting a 4 percent decline year-on-year. The group said the decline in customers was due a new definition of "active customer" implemented by the regulator in Iraq and a new registration policy implemented by Sudan's regulator. Profit was also affected by the political instability in Iraq during the second half of 2014, which resulted in frequent network interruptions and associated higher network operational costs. EBITDA for the period reached USD 1.8 billion, giving an EBITDA margin of 41.8 percent. Excluding currency effects, net profit would have been relatively stable for the year. The board recommended a cash dividend of USD 0.14 per share. For the fourth quarter of 2014, Zain recorded revenues of USD 1.0 billion, EBITDA at USD 406 million, an EBITDA margin of 40.4 percent and net profit of USD 115 million. Group chairman Asaad Al Banwan said that despite geo-political challenges and unavoidable currency issues in several markets, the board remains confident that management is implementing the right strategy in driving the business forward.
Tags: problems
lower
political
profits
Google posts profit hike but forex rates hit revenues
2015-01-30 01:00:00| Total Telecom industry news
Internet giant reports fourth quarter numbers; cost-per-click drops.
RBS steps up its forex inquiry
2014-12-23 16:28:55| BBC News | Business | UK Edition
The RBS banking group has withheld bonuses from 18 of the staff it is investigating for their possible role in rigging the foreign exchange market.
HSBC dismisses head of European forex
2014-12-10 13:14:18| BBC News | Business | UK Edition
HSBC has dismissed its head of foreign exchange trading for Europe, Middle East and Africa.
Tags: head
european
forex
hsbc
Axiata's Q3 profit drops 11.2% on forex losses at XL
2014-11-25 08:20:00| Telecompaper Headlines
(Telecompaper) Asian mobile operator group Axiata Group saw its third-quarter revenue slightly increase by 0.3 percent year-to-date, to MYR 13.9 billion. At constant currency, revenues increased by 4.2 percent in the period. Year-to-date EBITDA fell 5.9 percent, or 2.3 percent at constant currency, driven by the impact from the acquisition of Axis. Profit after taxation and minority interests (Patami) fell 11.2 percent, mainly due to lower group EBITDA and forex losses at XL. Patami jumped 40.9 percent quarter-on-quarter, partly due to the disposal of Axiata's 24 percent stake in Samart I-Mobile (Thailand) which recorded a gain of MYR 116.7 million.
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