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17/01/2018 05:42 AST
End of last year, Omantel said it completed the acquisition of 21.9 per cent shareholding in Kuwait’s mobile telecommunications company (Zain). As per IFRS 10: Consolidated financial statements, Zain group is treated as a subsidiary of Omantel and its results need to be consolidated with Omantel.
Zain group is currently completing their consolidated results that involve the consolidation of their results across nine countries. These results then needs to be consolidated with the results of Omantel which is significant and material to the Group results, the company said in a MSM filing.
Pending the consolidation, Omantel is currently not in a position to disclose the initial unaudited results of the Group.
Omantel will disclose the audited results of the group within the statutory time period specified under the Commercial Companies Law.
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Zain, a leading telecommunications provider in the Middle East and Africa, vowed to further expand focus on digital transformation and talent development, through signing a memorandum of understandin
Arab Times
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
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The Peninsula
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The Peninsula
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Gulf News