Etisalat, the Gulf's second biggest telecoms operator, expects 2013 revenue of up to $9.4 billion, according to a presentation the company gave to analysts, with the company also looking to consolidate its smaller assets.
This consolidation in what it terms "fragmented markets" could be through mergers, acquisitions or asset sales, the document states.
The United Arab Emirates' largest listed company, which has operations in 15 countries in the Middle East, Africa and Asia, has suffered a sustained profit slump in recent years as it took write downs of US$1.6 billion on troubled foreign units and tougher competition at home and abroad also weighed on the bottom line.
Etisalat's 2012 profit was Dh6.74bn, down 24 per cent from a 2009 peak of Dh8.84bn. Yet revenue has grown over this period, reaching a record high of Dh32.95bn last year.
This was up 2.2 per cent from a year earlier. The company expects revenue to grow between 3 and 5 per cent in 2013, according to the presentation.
This would lead to full-year revenue of between $9.24bn and $9.42bn. Etisalat does not normally provide a profit or revenue outlook to the stock market.
The company did not provide a precise profit forecast in the presentation, but does warn margins will be under pressure, with earnings before interest, tax, depreciation and amortisation slated to be between 49 and 51 per cent of revenue this year, compared with 51 per cent in 2012.
Capital expenditure is expected to be between 14 and 16 per cent of revenue, up from 13 per cent last year, the document showed.
Etisalat confirmed the presentation, but declined further comment.
* Reuters
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
COMPANY PROFILE
Sholto Byrnes on Myanmar politics
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Gavin Esler: Before you celebrate Brexit, be clear what it is
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Wicked
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BLACK%20ADAM
If you go
Players Selected for La Liga Trials
U18 Age Group
Name: Ahmed Salam (Malaga)
Position: Right Wing
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Name: Yahia Iraqi (Malaga)
Position: Left Wing
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Position: Centre-Midfield
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Name: Mohammed Rajeh (Cadiz)
Position: Striker
Nationality: Jordanian
U16 Age Group
Name: Mehdi Elkhamlichi (Malaga)
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Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
ENGLAND TEAM
Alastair Cook, Mark Stoneman, James Vince, Joe Root (captain), Dawid Malan, Jonny Bairstow, Moeen Ali, Chris Woakes, Craig Overton, Stuart Broad, James Anderson
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KILLING OF QASSEM SULEIMANI
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Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
Results
2.15pm: Handicap Dh80,000 1,950m
Winner: Hello, Tadhg O’Shea (jockey), Ali Rashid Al Raihi (trainer).
2.45pm: Handicap Dh90,000 1,800m
Winner: Right Flank, Pat Dobbs, Doug Watson.
3.15pm: Handicap Dh115,000 1,000m
Winner: Leading Spirit, Richard Mullen, Satish Seemar.
3.45pm: Jebel Ali Mile Group 3 Dh575,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer.
4.15pm: Handicap Dh105,000 1,400m
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4.45pm: Shadwell Farm Conditions Dh125,000 1,200m
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5.15pm: Handicap Dh85,000 1,200m
Winner: Daltrey, Sandro Paiva, Ali Rashid Al Raihi.
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
Lowest Test scores
26 - New Zealand v England at Auckland, March 1955
30 - South Africa v England at Port Elizabeth, Feb 1896
30 - South Africa v England at Birmingham, June 1924
35 - South Africa v England at Cape Town, April 1899
36 - South Africa v Australia at Melbourne, Feb. 1932
36 - Australia v England at Birmingham, May 1902
36 - India v Australia at Adelaide, Dec. 2020
38 - Ireland v England at Lord's, July 2019
42 - New Zealand v Australia in Wellington, March 1946
42 - Australia v England in Sydney, Feb. 1888
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MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
Can NRIs vote in the election?
Indians residing overseas cannot cast their ballot abroad
Non-resident Indians or NRIs can vote only by going to a polling booth in their home constituency
There are about 3.1 million NRIs living overseas
Indians have urged political parties to extend the right to vote to citizens residing overseas
A committee of the Election Commission of India approved of proxy voting for non-resident Indians
Proxy voting means that a person can authorise someone residing in the same polling booth area to cast a vote on his behalf.
This option is currently available for the armed forces, police and government officials posted outside India
A bill was passed in the lower house of India’s parliament or the Lok Sabha to extend proxy voting to non-resident Indians
However, this did not come before the upper house or Rajya Sabha and has lapsed
The issue of NRI voting draws a huge amount of interest in India and overseas
Over the past few months, Indians have received messages on mobile phones and on social media claiming that NRIs can cast their votes online
The Election Commission of India then clarified that NRIs could not vote online
The Election Commission lodged a complaint with the Delhi Police asking it to clamp down on the people spreading misinformation