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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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16/05/2025
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE
Trade Arabia
16/05/2025
Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.
The
Muscat Daily
16/05/2025
Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.
This stat
Gulf Times
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
16/05/2025
In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental
Kuwait Times
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