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In an effort to learn from international economists and gain insights into the current global financial crisis, Etisalat in collaboration with Dubai School of Government hosted talks by Dr. Tariq Yousif, Dean of the Dubai School of Government, and Dr. Eskandar Tooma, a British Petroleum Associate Professor of Finance from The American University in Cairo at its Abu Dhabi Headquarters this week.

The event discussed the current financial environment and its impact on the region as well as the strategic steps required to minimize risk and maximize the opportunities present today.

Mohammad Omran, Chairman of Etisalat said: “Etisalat is working to benefit from the many opportunities that are arising because of the current economic crisis. We will continue to study any new project diligently and we will choose the best initiatives that will bring returns to our investors and continue the successful growth of our group.”

Many economic studies have reported that the telecommunications sector will be less affected by the financial crisis than others with operators around the world continuing to see increasing revenues in profits in 2008, compared with 2007. Etisalat’s profits for the year 2008 totaled Dhs 8.665bn, which is a 19% increase compared to the previous period and revenues reached Dhs 26.119bn – 22% higher than 2007.

Etisalat’s international subscriber base exceeded 74mn in 2008, and the total population of its 18 markets is 1.6bn. It is also a major investor in Thuraya which provides coverage across 2/3 of the planet’s surface.

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