Rumtel, Rate projections and budget discussions in the " news "....................
Zain's CEO: our operations going at a growing pace in Iraq 22/10/2012
BAGHDAD / JD : Chief Executive in Zain Group Nabil bin Salama said the financial indicators of the Group for the period came encouraging, where it has maintained at the level of the amount of revenue collected, which amounted to 3.49 billion dollars, and in spite of fierce competition and the challenges faced during this period in volatility sharp currency fluctuations and changes in the policies of exchange in some countries. " and added: our operations going pace growing in the Iraqi market, and ahead there growth opportunities great for our operations, and in spite of some of the challenges faced by the Group there. continued: currently operates Zain Steps Listing in the Iraqi market for securities Iraq, according to the requirement of operating license. , said, Chairman of Zain Group Asaad Ahmad Banwan in a press statement posted directly: that although this period imposed tough challenges on the markets in which they operate Zain Group notably volatility sharp in currency rates, but that the volume growth in the financial performance of the group was good although the volatility in currency rates cost the group during this period more than $ 146 million. " and revealed, saying "that these amounts if calculated based on the exchange rate for the period similar, the Size consolidated revenue for the group was increased by 1.5% compared to the same period last year, as the volume of profits before interest and taxes and depreciation (EBITDA) was up by 0.7%. " explained Banwan that operational networks group and although it came as our expectations, The volume of consolidated revenue 974.6 million dinars (3.49 billion dollars), compared with revenues of $ 988.1 million dinars (3.58 billion dollars) for the period similar year 2011. " and stated that the size of profits before interest and taxes and depreciation (EBITDA) 437.3 million dinars ( U.S. $ 1.57 billion), compared with 444.4 million dinars (1.61 billion dollars) in the same period of last year. " http://www.dananernews.com/News_Details.php?ID=2146
I am not sure if any one else caught this, but when you do the numbers in the statement above; they come out like this:
Exchange Rates of Disclosed Profits in this article (in order):
1 Dinar Equals:
We shall see how this plays out, but all of the conversions are within 4 cents or 400 pips of each other. Very interesting!!! GO RV!!!
Sxxxxx: Today we have budget approved, meaning new rate should be published in Gazette. Then we have final signatures from Kuwait on Ch7, Then we have Arrests happening at the CBI, then we have HCL resolution scheduled for Saturday... today is shaping up nicely... lets see what else is stacked on top of it... As I am expecting more.
Sxxxxx: interesting post in the forum about the budget from dbcbill.... They cannot OPEN the budget without having the rv, as I understand it. They can approve anything, but cannot act out of that budget until they have a currency able to support it! However, their IMF funds (SBA extension) run out in early 2013, with no hope of further extension. THEY MUST HAVE A BUDGET. Things are looking a bit better!