Etisalat, the UAE's biggest telecommunications company, is considering a fresh bid for a mobile licence in Syria - if the terms are right.
Etisalat pulled out of the bidding for the Syrian licence in March, following the onset of unrest in the country.
"Etisalat remains prudent in exploring opportunities to expand its international footprint. If the terms of the Syrian mobile licence are changed, Etisalat will analyse the new terms," said the company, which is based in Abu Dhabi.
It recently said it would continue with its overseas expansion plans despite the collapse earlier this year of its attempted takeover of Zain, a Kuwaiti rival.
Despite ongoing political difficulties in Syria, analysts said Etisalat must keep looking outside its native market, even to countries experiencing unrest.
"If you look at the long-term point of view, it makes sense," said Chandresh Bhatt, a telecoms analyst at Global Investment House. "Licence terms are always for a long-term period and [outbreaks of unrest] are short-term events."
Overseas expansion was still needed to offset lower profits in the Emirates, Mr Bhatt said.
On Tuesday, the rival telecoms provider du announced it had secured a US$220 million (Dh808m) three-year loan facility to finance an upcoming Dh3 billion loan due for repayment this month, as it builds up expansion plans to make inroads into Etisalat's stronghold of Abu Dhabi.
Etisalat said yesterday it did not intend to raise capital at the moment, adding that speculation of looming bond and sukuk issuances was unfounded. "Currently the corporation has no such need for issuance."
Etisalat has Dh12.8bn of cash and equivalents on its balance sheet. The company's capital expenditure of Dh1.11bn, meanwhile, was 28 per cent down in the first quarter compared with the same period last year.
Etisalat's profit after payment of royalties to the UAE Government amounted to Dh1.8bn for the first quarter, a decrease of 9 per cent on the same period last year.
The company's shares rose 0.9 per cent to Dh10.70 a share in trading on the Abu Dhabi Securities Exchange yesterday.
ghunter@thenational.ae
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
UAE currency: the story behind the money in your pockets
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Mica
Director: Ismael Ferroukhi
Stars: Zakaria Inan, Sabrina Ouazani
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Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Coffee: black death or elixir of life?
It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?
Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.
The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.
The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.
Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver.
The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.
But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.
Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.
It also raises blood pressure, which is largely problematic for people with existing conditions.
So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.
Rory Reynolds
Sholto Byrnes on Myanmar politics
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ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
