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Showing results for tags 'telecom'.
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New Iraq Broadband Route expected This Year April 2, 2015 in Telecoms/Comms By John Lee. IQ Networks, a wholesale internet provider based in Sulaymaniya, expects to open a $100-million (120-billion-Iraqi-dinar) broadband cable from Turkey to Iraq’s Gulf coast by the end of this year. Reuters reports that, after spending an extra $30 million to replace lines and equipment overrun by Islamic State (IS, ISIS, ISIL), the company aims to carry international traffic through Iraq to link Asia and Europe, boosting Iraq’s hopes of becoming an international hub for Internet traffic. IQ Networks will be granted a 15-year renewable licence to operate the network, but will hand ownership of the cable outside of Kurdistan to the state-owned Iraq Telecommunications and Post Company (ITPC), and will pay 26 percent of all revenue to the government. Martin Frank, chief executive of IQ Networks, told Reuters: “This will be the first privately built and privately run network of this kind outside of Kurdistan. “We’re expecting large parts of the above-ground infrastructure – shelters, generators, power equipment and transmission equipment – to have been stolen or destroyed, but large parts of the underground infrastructure – ducts and fiber cables – (should) be okay.” The company began to build the transit-only fibre network in 2010, but the project was awarded to another company in 2011, before that decision was reversed in 2013. The network follows Iraq’s main oil and gas pipeline, and was nearing launch before ISIS captured areas through which the cable travelled in North and West Iraq. As a result, IQ has had to lay an extra 1,000 kms (620 miles) of fibre to re-route the network further east. According to the Reuters report, Iraq relies heavily on Kurdistan for internet connectivity after Baghdad’s insistence on state control of fixed infrastructure within its jurisdiction stifled development and detered private investors. The government also segregates networks carrying transit and locally-destined traffic, meaning that the new network cannot carry data to or from Iraqi domestic users, and therefore will do nothing to reduce Iraq’s Internet costs. Outside of Kurdistan a one megabit per second (mbps) broadband connection costs $399 per month versus $6.17 in Iran. (Source: Reuters) -
Iraq Registrar of Companies approved the decisions of Asiacell Communications (TASC) Iraq Registrar of Companies approved the decisions of Asiacell Communications (TASC) including approving 2014 annual financial results and increasing its capital to IQD310bn through 14.8% bonus issue.
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Zain’s joint stock company in Iraq, ‘Al-Khatem’, lists on Iraqi Stock Exchange, completes first day of trading - 25% of company’s shares offered to the investor community, share price closes at 5.99 Iraqi Dinar, reflecting a market capitalization of US$9.4 billion - Al-Khatem Managing Director, Bader Al Kharafi: Zain Iraq will further grow its market leadership position rewarding all the company’s stakeholders Baghdad, June 24, 2015 Further to the joint agreement and memorandum announced on April 28, 2015 between Al-Khatem J.S.C, parent company of Atheer Telecom Iraq Limited (trading under the brand name “Zain” in Iraq), the Iraqi CMC (Communications and Media Commission), the ISC (Iraq Securities Commission), the ISX (Iraq Stock Exchange), and the IDC (Iraq Depositary Center), Al-Khatem announces the completion of its listing procedure and fulfilling all of its obligations towards the regulators in a successful manner within the required two months. Al-Khatem has now commenced trading its shares on the exchange and is open to public investment. Zain has been operating in Iraq since 2003; investing in over US$5 billion to date establishing essential mobile telecommunications infrastructure in Iraq and employing over 2500 Iraqi nationals. In accordance with its license terms, 25% of the equity of Al-Khatem was offered to the investor community on the Iraqi stock market by one of the founding shareholders of the Company. The first day of trading saw the share price closing at 5.99 (with an average price of 6.09) Iraqi Dinar (IQD) per share reflecting a market capitalization for Al-Khatem of 10.96 trillion IQD (US$ 9.4 billion) and leading to a substantial increase in the ISX’s total market capitalization. Bader Al Kharafi, Managing Director of Al-Khatem and Vice-Chairman of Zain Group said, “This milestone of listing on the Iraq Stock Exchange and offering of shares to Iraqi nationals and investors reflects Zain’s confidence and commitment to the future development of the telecommunications sector in Iraq. We thank all the regulators and the governing bodies, who have worked professionally and transparently throughout the entire process, for assisting us to arrive at this monumental position.” Al Kharafi continued, “We look forward to the participation of the investor community in one of the most profitable and resilient companies in Iraq and the region as the mobile operator enters a new phase in its growth strategy with the recent launching of 3G services across the country.” Al-Kharafi also noted that, "We have utmost faith in the Zain Iraq management team to overcome the unique market challenges and Zain Group will continue to support them in all facets of the operations. We are confident that Zain Iraq will further grow its market leadership position rewarding all the company’s stakeholders." Mr. Taha AbdulSalam, CEO of the ISX commented, “The success of any economy depends on its ability to attract investment capital whether foreign or local within the framework of joint-stock companies. That increases capital formation for the economy and contributes towards the private sector and the gross domestic product. That is the mechanism seen in establishing and operating of companies traded on the stock market, and so we expect the Al Khatem Telecom listing and trading of with a capital exceeding one trillion, eight hundred billion dinars and having more than 500 shareholders.” All interested investors can acquire shares in Al-Khatem through contacting any of the authorized brokers listed on the Iraq Stock Exchange. END
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So I am looking at my portfolio with a lot of pride. Up until today I have, through the grace of God, managed a stunning portfolio. At least this is what I was telling myself until a killjoy peeked over my spreadsheet and with a crooked smile retorted, "good morning." Asiacell! You heartbreaker who just wont go away. Okay, fine. I figure it is time I faced this issue and it is better late than never. No savvy investor should practice holding a losing stock, and I violated this rule with Asiacell. Perhaps I should have let her go a while ago in loyalty to my 3% loss rule whereas after a 3% hit, a stock must be sold for a loss. My question to investment friends is "what to do about Asiacell?" Viable Strategies (my personal consideration highlighted blue) Buy more If you were like me, you got in on this stock at its initial offering (22 points). Today the stock can most likely be purchased at just under 10. This would bring the average buy to 16 which might be a good price point if it is ever to recover. A person would have to ask themselves if they can see this stock rising to 16 points in the near future? Additionally is the handsome dividend payouts which do not appear to be lessening any time soon. I haven't experienced any other stock coming remotely close to the dividend payout of TASC. Owning more shares of TASC might equate a significant increase in yearly dividends. This option is a medium consideration for me especially if I elect to double my holdings. It is a fine time to execute a buy order as well since the stock appears to be near its bottom {nowhere to go but up}. Hold One could sit on the stock and just collect dividend checks while hoping it rebounds. Believing it will rebound however might be QUITE a stretch. A person has to first understand why it fell before they can believe why it would rebound. In my estimation, TASC fell because majority holders of it are foreign investors (75% I believe) who are very skittish about the situation in Iraq. As the security situation in Iraq improves, foreign investment will recover which could me good things for share price of TASC. This option is a weak consideration for me. I do not believe TASC will more than double its current value within any reasonable time frame especially once its competitor ZAIN comes to the bourse. TASC should probably lose market share as other telecoms become available. With AGM a ways out (December most likely) it is risky to hold through AGM and try capitalizing on any 2016 dividend payout. Sell It This is probably the most favorable decision for TASC holders seeing how its competitors are poised to come online in the near future. Even though TASC is hovering around its all time low, it might even fall further once the buzz of ZAIN fills the air. Letting go of a loser stock is tough to do because of realized losses, but a savvy investor has to know when to call it quits even when quit should have been a long time ago. This is my strongest consideration currently. I am leaning toward cutting it loose. Hopefully the dividend payout for 2015 will help recover some of my losses, but it is risky business to continue holding the stock. What are your thoughts my friends?
