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Wednesday, 3 November 2021

NTRA slaps telcos with fines for poor quality

NTRA slaps telecom companies with EGP 25 mn in fines for subpar quality: The National Telecommunications Regulatory Authority (NTRA) has handed out EGP 25 mn in fines to telecom companies after their voice call services failed to meet the required quality standards, the regulator said in its quarterly quality of service (QoS) survey (pdf). In terms of call quality, Etisalat Misr had the most issues, while We’s network fared the worst with starting calls and Orange Egypt scored low on voice quality, the report says. Mobile internet speeds were stable throughout the three months of the third quarter of the year, with We and Vodafone boasting the fastest average speeds. Etisalat and Orange’s data speeds were also stable throughout the quarter.

Assets belonging to the sons of former president Hosni Mubarak will be unfrozen after an economic court yesterday issued a final ruling that sets aside a 2012 decision in a case in which the two were accused of market manipulation. Gamal and Alaa Mubarak were last year cleared of charges of insider trading and manipulation related to the 2007 sale of Al Watany Bank of Egypt to the National Bank of Kuwait. Yesterday’s decision cannot be appealed.

Other things we’re keeping an eye on this morning:

  • Flights between London and Luxor are back: The first flight between the two cities landed in Luxor yesterday, kicking off a new schedule that will see EgyptAir operate one weekly flight carrying 140 passengers.
  • Misr Italia Properties signed an agreement with Valu, which will give their clients access to home improvement financing provided by the consumer lender.
  • MIDBank has contracted banking software company Temenos to revamp and launch digital services for the bank, including mobile and online banking.
  • Dana Gas received USD 133 mn from its operations in Egypt in 10M2021, up 95% y-o-y thanks to the sharp rise in global oil prices, the company said in a bourse disclosure (pdf) in Abu Dhabi.
  • Authorities arrested a man suspected of decapitating and killing a man in Ismailia, after footage of the attack made the rounds on social media. The suspect’s motives are unclear.

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