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Zain Saudi Arabia Q2 Net Loss Up Almost Fourfold - ASHARQ AL-AWSAT English Archive
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RIYADH, (Reuters) – Zain Saudi Arabia, which started operations in late 2008, posted a 291 percent increase in second-quarter losses.

Zain made a net loss of 857 million riyals ($228.5 million) in the three months ending June 30, 2009, compared to 219 million riyals in the same period last year, it said in a statement on the Saudi bourse website.

The telecom firm, a unit of Kuwait’s Zain, blamed higher costs, as well as marketing and advisory expenses.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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