Business Category

Cukurova Close to Securing $1.6 Billion Loan to Settle Turkcell Dispute
July 28th 2014 - 02:30 GMT
The long running saga over control of Turkey's Turkcell has moved a step closer to resolution after a British court approved plans by Cukurova to repay a US$1.6 billion loan to Russia's Altimo....more

Batelco Profits Down on One-Off Costs
July 27th 2014 - 23:00 GMT
Bahrain's Batelco has reported a 22.4 percent drop in its second quarter profits as the company was hurt by one-off costs as well as increased competition in its core markets....more

Baidu's Mobile Search Leadership Sustains Ratings
July 26th 2014 - 11:35 GMT
Fitch Ratings says that Baidu's continued solid performance in 2Q14 reinforces its belief that Baidu's cross-channel leadership in search advertising in China will continue to sustain its credit profile, ...more

Indonesian Tower Operator Raises Funds for Aquisitions
July 25th 2014 - 01:15 GMT
Indonesia's Tower Bersama Infrastructure (TBIG) is reported to have lined up US$1.8 billion in funding should it win a bid to buy a number of towers being sold by the country's largest mobile network operator, XL Axiata....more

LG Ships Record Number of Smartphones in Past Quarter
July 24th 2014 - 03:35 GMT
South Korea based LG says that it shipped a record-high 14.5 million smartphones in the second quarter of this year, a 20 percent increase year-over-year...more

Qualcomm Reports Record Quarterly Results
July 24th 2014 - 03:15 GMT
Qualcomm has reported a record quarter in its financial results, with revenues up by nearly 10 percent, and net profit jumping by 42 percent....more

Nokia Revenues Decline, but Losses Shrink
July 24th 2014 - 02:55 GMT
Nokia has reported an 11 percent fall in its revenues, on a continuing operations basis, and a small loss of for the second quarter of this year....more

IFC Invests in Tcell to Expand Access to Mobile Services
July 24th 2014 - 02:30 GMT
IFC, a member of the World Bank Group, is providing a $30 million loan to support Tcell's plans to expand its network and improve connectivity for its subscribers across Tajikistan....more

Italian Network Merger Talks Close to Conclusion
July 24th 2014 - 01:30 GMT
The long running rumours of a possible merger between two of Italy's mobile networks are reported to have been revived....more

Apple's Profits Jump on Strong IPhone Sales
July 23rd 2014 - 19:33 GMT
Apple has posted a 12 percent rise in its second quarter profits as iPhone sales offset declines in sales of its iPad tablet. ...more

Microsoft Profits Fall As the Company Absorbs Nokia Losses
July 23rd 2014 - 19:31 GMT
Microsoft has announced a 7 percent fall in its quarterly profits, as its performance was hurt by losses at its new Nokia handset division....more

Huawei Posts Sharp Rise in First Half Revenues
July 22nd 2014 - 19:31 GMT
Huawei has reported a 19 percent jump in its first half revenues of CNY135.8 billion (US$21.9 billion) compared to a year ago....more

Yahoo Buys Mobile App Analytics Firm, Flurry
July 22nd 2014 - 19:24 GMT
Yahoo has bolstered its mobile division with the purchase of the mobile app analytics firm, Flurry. ...more

Google Revenues Surge, but Miss Profits Expectations
July 17th 2014 - 23:40 GMT
Google has reported surging revenues that beat analysts forecasts, and a profit that was up by a quarter, but missing forecasts....more

Harbinger Sues FCC for $2 Billion in Damages
July 16th 2014 - 01:55 GMT
The US telecoms regulator is facing a lawsuit for US$2 billion in damages that comes from its decision in 2012 to block the launch of a LTE network....more

America Movil Lifts Telekom Austria Stake Above 50 Percent
July 16th 2014 - 00:30 GMT
Mexico's America Movil has raised its stake in Telekom Austria Group to more than 50% after it paid US$1 billion for shares it had tendered for....more

TeliaSonera's Behind-The-Scenes Connection To Azerbaijani President's Daughters
July 15th 2014 - 11:45 GMT
Through a trail of owners and offshore registrations, the two daughters of President Ilham Aliyev appear to be connected to Azerbaijan's largest mobile phone business, Azercell....more

Helios Towers Africa Raises $630 Million to Fund Towers Expansion
July 15th 2014 - 03:00 GMT
Helios Towers Africa has raised US$630 million in new equity resources from existing and new shareholders....more

Fitch Downgrades TDS Ratings to 'BB+'; Outlook Stable
July 15th 2014 - 00:10 GMT
Fitch said that the downgrade reflects its belief that in 2014 the company's wireless operations will continue to struggle with the highly competitive wireless environment, leading to weak EBITDA margins and lower EBITDA....more

ZTE Lifts Profits Forecast for the First 6 Months of This Year
July 14th 2014 - 23:45 GMT
China's ZTE has raised its forecast for first-half profit as the company says that it has maintained strong momentum in its 4G infrastructure operations....more

Sprint Slowly Steps Closer to Takover Bid for T-Mobile USA
July 14th 2014 - 23:20 GMT
The long expected takeover of T-Mobile USA by Sprint has reportedly edged a stage closer, with a deal reached between the two company's controlling shareholders, Deutsche Telekom and Softbank....more

Telefonica in Talks to Sell Telecom Italia Stake
July 14th 2014 - 23:00 GMT
Telefonica's conflict of interest in Brazil may be heading closer to a resolution as the company is said to be considering a sale of its stake in Telecom Italia....more

Chinese Networks Set Up $1.2 Billion Tower Sharing Venture
July 13th 2014 - 23:55 GMT
China's three mobile networks have set up a joint tower sharing company as a new stand alone operator which will build future towers for the three networks....more

Zain Secures Victory in $4.5 Billion Lawsuit
July 12th 2014 - 03:45 GMT
Zain's Iraqi subsidiary says that a mysterious US$4.5 billion lawsuit against the company has been dismissed by the local courts....more

Bharti Airtel Raises Around $2 Billion from Towers Sale
July 10th 2014 - 00:10 GMT
Bharti Airtel has announced plans to sell around 3,100 telecoms towers in four countries to pan-African tower operator, Helios Towers....more

America Movil to Sell Mexican Assets to Avoid Regulatory Squeeze
July 9th 2014 - 23:45 GMT
America Movil's dominance of the Mexican mobile market seems close to an end after the company announced plans to sell assets to bring its market share down to below 50 percent....more

Egypt's Mobinil Denies Rumours of Sale by Parent Shareholder
July 9th 2014 - 01:45 GMT
Egypt's Mobinil has denied media reports that its majority shareholder, France's Orange is looking to sell the company....more

BlackBerry Sells German R&D Facility to Volkswagen
July 8th 2014 - 01:00 GMT
BlackBerry has sold its European research and development centre in Bochum, Germany to the car manufacturer, Volkswagen....more

MBlox Raises Additional Investment Funding
July 8th 2014 - 00:40 GMT
Mobile messaging vendor, mBlox says that it has raised an additional US$43.5 million to fund the continued growth of its business....more

Samsung Issues Surprise Profits Warning
July 7th 2014 - 22:52 GMT
Samsung has issued a sharp profits warning, and is forecasting that its second-quarter profits will be badly hurt by a slow down in smartphone sales, and local currency problems....more

Tele2 Sells Norwegian Network After Losing Out in Radio Spectrum Auction
July 6th 2014 - 23:00 GMT
Tele2 has announced a deal to sell its Norwegian mobile network to TeliaSonera for an enterprise value of SEK 5.1 billion (US$745 million) on a cash and debt free basis....more

Gowex CEO Resigns in Disgrace - Company Files for Bankruptcy
July 6th 2014 - 10:35 GMT
Spanish municipal Wi-Fi provider, Gowex has filed for bankruptcy and the CEO has resigned after admitting it falsified its accounts for the past four years....more

HTC Returns to Quarterly Profit
July 6th 2014 - 01:40 GMT
Taiwan's struggling smartphone manufacturer, HTC reported another decline in its quarterly revenues, but did manage to return to profit....more

Gowex Shares Plunge Following Allegations of Financial Fraud
July 5th 2014 - 03:05 GMT
Shares in the fast growing municipal Wi-Fi provider, Gowex more than halved earlier this week following a report that cast doubt on the company's finances....more

Fitch Affirms TeliaSonera at 'A-'; Outlook Stable
July 5th 2014 - 00:50 GMT
Fitch said that TeliaSonera continues to benefit from a well-diversified business portfolio, strong cash flow, sound market position in most of its territories, and low financial leverage relative to the European incumbent peer group - most of which are rated at least one notch lower....more

Fitch: Telefonica Deal Approval Supports Investment and MVNOs
July 3rd 2014 - 23:25 GMT
EU regulatory approval of Telefonica Deutschland's acquisition of E-Plus should encourage further network investment by allowing in-market consolidation, while also ensuring virtual operators have the 4G capability that will be essential if they are to thrive in the long-term,...more

Vodafone Gets Approval to Buy Spanish Landline Network
July 3rd 2014 - 00:35 GMT
The European Commission has cleared the proposed acquisition of Spain's Grupo Corporativo ONO by Vodafone....more

Nokia Networks to Buy USA Based SAC Wireless
July 2nd 2014 - 23:25 GMT
Nokia Networks has entered into an agreement to acquire USA based SAC Wireless, a provider of infrastructure and network deployment solutions....more

European Regulators Approves Merger of German Mobile Networks
July 2nd 2014 - 23:00 GMT
European regulators have conditionally approved a merger between two German mobile networks, KPN's E-Plus and Telefonica Deutschland's O2....more

Vodafone Sells Entire Stake in Fiji Based Mobile Network
July 1st 2014 - 11:55 GMT
Vodafone Group has announced the surprise sale of its stake in its Fijian subsidiary....more