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Discuss this article (6 Comments)Etisalat Q1 profits untouched by global crisis - CEO
by This email address is being protected from spam bots, you need Javascript enabled to view it on Saturday, 04 April 2009
POSITIVE REVENUES: UAE telecoms giant, Etisalat, says it is successfully riding the financial storm. (Getty Images)
Etisalat has suffered no impact from the global financial crisis and expects to post positive first-quarter revenue figures, its chief executive has said.
"The corporation did not observe any negative effect of the financial crisis on its first-quarter revenues this year. The first quarter revenues are positive," said Mohammed Al Qamzi in comments carried by the official WAM news agency on Saturday.
Etisalat's finances had been affected by fluctuations in major foreign currencies such as the euro, however, and the operator would be selective in its foreign investments, Al Qamzi added.
Etisalat, the second-largest Arab telecom operator, posted a 19.3 percent decline in fourth-quarter net profit to AED1.42bn.
READERS' COMMENTS
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It's a seller's market..
Posted by Shadab, Dubai, UAE on Tuesday 7 April 2009 at 19:18 UAE time
I am in total agreement with Anish, JK and Sami. If you are the only one selling bread, there will always be a long queue at your doorstep no matter how much you inflate its prices. What the government doesn't realises is that the real economic advancement of the country lies in the hand of market liberalisation. Free up your markets and see what amazing results it will deliver. But who is listening!!????
Posted by Shadab, Dubai, UAE on Tuesday 7 April 2009 at 19:18 UAE time
I am in total agreement with Anish, JK and Sami. If you are the only one selling bread, there will always be a long queue at your doorstep no matter how much you inflate its prices. What the government doesn't realises is that the real economic advancement of the country lies in the hand of market liberalisation. Free up your markets and see what amazing results it will deliver. But who is listening!!????
Etisalat - Profitability
Posted by JK on Monday 6 April 2009 at 17:30 UAE time
Etisalat profitability will never be down as they are pretty good in draining the consumers mercilessly. In times of difficulty; people cut cost - how can you cut cost on telephone/mobile expenses in UAE, when VoIP - the technology which allows you to make cheap calls thru internet - is termed illegal ??
Well do we have a choice ??
Posted by JK on Monday 6 April 2009 at 17:30 UAE time
Etisalat profitability will never be down as they are pretty good in draining the consumers mercilessly. In times of difficulty; people cut cost - how can you cut cost on telephone/mobile expenses in UAE, when VoIP - the technology which allows you to make cheap calls thru internet - is termed illegal ??
Well do we have a choice ??
pitty
Posted by anish salam, dubai, uae on Monday 6 April 2009 at 16:18 UAE time
i feel pitty for etisalat saying that they havent touched by the economic crisis...how many Competitors etisalat have in UAE...Dont say DU who came yesterday...if there is a atleast 5 Competitors in UAE and then etisalat showing there profits .....its fair...otherwise...nobody is intersted in knowing and i bet etisalat cant win in those competetion in UAE with any other external companies
Posted by anish salam, dubai, uae on Monday 6 April 2009 at 16:18 UAE time
i feel pitty for etisalat saying that they havent touched by the economic crisis...how many Competitors etisalat have in UAE...Dont say DU who came yesterday...if there is a atleast 5 Competitors in UAE and then etisalat showing there profits .....its fair...otherwise...nobody is intersted in knowing and i bet etisalat cant win in those competetion in UAE with any other external companies
Most expensive not reasonable communication services all around the Middle East
Posted by sami, s on Monday 6 April 2009 at 11:24 UAE time
Yes the profit is not touched because Etisalat is the only chose for us, and they force us to pay what ever they want for their services.
• Phone calls charges are the most expensive compared with other GCC countries
• Internet service very expensive (and very slow)
• Mobile charges are high, and less free service compared with other operators in the regions.
Posted by sami, s on Monday 6 April 2009 at 11:24 UAE time
Yes the profit is not touched because Etisalat is the only chose for us, and they force us to pay what ever they want for their services.
• Phone calls charges are the most expensive compared with other GCC countries
• Internet service very expensive (and very slow)
• Mobile charges are high, and less free service compared with other operators in the regions.
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