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Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
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Latest News

UAE’s Etisalat Q3 Profit Near-Flat

Q3 profit 1.71 bln dirhams vs 1.74 bln dirhams a year ago; Q3 revenue 8 bln dirhams; Costs up 22 pct from Q3 2010

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October 18, 2011 10:52 by



UAE telecoms operator Etisalat reported a 1 percent fall in third-quarter profit as operating costs rose faster than revenues.

The Gulf’s largest telecoms carrier by market value made a profit of 1.72 billion dirhams ($468 million), compared with a profit of 1.74 billion dirhams in the same period a year ago.

Analysts polled by Reuters on average expected the firm to post a quarterly profit of 1.71 billion dirhams.

Etisalat, which unveiled its long-term evolution (LTE) high-speed network in September, said revenues increased by 8.6 percent to 8.04 billion dirhams in the quarter, up from 7.4 billion dirhams a year earlier. Yet operating expenses rose 22.3 percent over the same period.

The 18-country operator’s shares ended Monday at a 13-month low of 9.99 dirhams. (Reporting by Matt Smith, Editing by Dinesh Nair)



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