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15/01/2016 07:51 AST
Omani Qatari Telecommunications Company 'Ooredoo' has signed three new financing agreements with local and international banks worth $177 million (RO68 million).
The new funding will be used for general corporate purposes and will underpin continued investment in the company's network and ongoing enhancement of services for the company's growing business and consumer customers, said a statement.
The company's ability to secure the new financing facilities is reflective of the company's strong balance sheet, positive brand equity and excellent market performance, it said.
The company has spent in excess of RO124 million solely in network modernisation over the last three years and this has resulted in population coverage growing to approximately 99 per cent.
Jorgen Latte, chief financial officer at Ooredoo, said: "There has been huge interest from both local and foreign banks in our new facility.
"With our clear vision and strategy, Ooredoo attracts many banks who want to participate and support our strategic ambitions."
Trade Arabia
26/10/2017
Ooredoo Oman reported a net profit of RO23.1mn for the nine months period ended September 30, 2017. This was 38.6 per cent lower compared with a net profit of RO37.6mn reported for the same period of
Muscat Daily
15/01/2016
Ooredoo has signed a deal with Oman Munitions Production Company (OMPC) to provide the high-profile government-owned company with a full suite of advanced business telecommunication solutions.
Trade Arabia
21/07/2015
Ooredoo Oman, the sultanate's No.2 telecom operator, reported a 16.2 per cent rise in second-quarter net profit on Tuesday.
The firm, majority-owned by Qatar's Ooredoo, made a net profit o
Trade Arabia
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25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
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The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
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Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
24/04/2025
QNB has launched a new campaign, aimed at rewarding customers to use their QNB Mastercard debit cards for everyday purchases.
The campaign, taking place from April 24-June 24, will offer win
Gulf Times
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