The number of registered mobile subscribers in Saudi Arabia reached 53.3 million at the end of the first quarter of 2011, a rise of over seven million in three months, according to the Saudi Communications Commission (SCC).

46.5 million of those subscriptions – 86 per cent — were prepaid. The SCC report also reported that the number of Internet broadband users rose by 68 per cent to 4.88 million compared to the 2.9 million users registered a year earlier.

At the end of Q111 fixed-line users numbered 4.25 million, with residential home connections numbering 3.2 million, constituting 75 percent of all active lines.

The SCC estimates the number of Internet users registered in Saudi Arabia at the end of the first quarter of 2011 at 11.8 million, compared to 10 million registered a year earlier.

Research In Motion (RIM) reported that its first fiscal quarter to May 28, 2011 revenue rose by 16 per cent to US$4.9 billion compared to US$4.2 billion a year ago, but net profit dropped by 10 per cent to US$695 million, down from US$769 million a year ago.

The revenue breakdown for the quarter was approximately 78 per cent for hardware revenue, 20 per cent for service and two per cent for software and other revenue.

During the quarter, RIM shipped approximately 13.2 million BlackBerry handheld devices and approximately 500,000 BlackBerry Playbook tablets.

“Fiscal 2012 has gotten off to a challenging start. The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter,” said Jim Balsillie, co-CEO of RIM.

The company also announced its intention to cut jobs in order to lower its operating costs, but is still planning the details so was unable to say how many redundancies would occur.

Axiom Limited, a Dubai International Financial Centre registered entity and holding company of Axiom Telecom, the mobile distributor today announced that it has successfully closed a private placement deal to sell a 35 per cent stake in the company to Mannai Corporation. Axiom Telecom is the Middle East’s leading multi-brand, multi-channel distributor of mobile telecommunication handsets, accessories and telecom services.

Axiom Telecom founder and CEO, Faisal Al Bannai said the capital increase will aid the company’s plans of further growth and expansion and boost its dominance in the region and beyond. “We are happy to welcome our new shareholder Mannai Corporation and feel confident that with the support of all the shareholders, we can take the company to the next level,” he said.

Mannai Corporation is a publicly listed company on the Qatar Exchange employing over 3,300 people.

Mannai Corporation’s diverse range of business areas include automotive distribution and service, information and communication technology, engineering services to the oil and gas sector, home appliances & electronics, travel services, logistics, geotechnical and geological services, facilities management, trading and commercial representation.

Last December Axiom Limited cancelled its proposed IPO, having been set to offer institutional investors about US$100 million in shares, although the size of the issue had steadily fallen from more optimistic plans announced earlier in the year. The company had originally looked to IPO up to 35 per cent of the stock.

The Batelco- Kingdom Holding consortium today issued a statement announcing it was granted access to Zain Saudi’s records thus ensuring the deal can progress to the final stages.

The board of directors of Zain Saudi has approved a non binding term sheet with the Kingdom Holding Company and Batelco Group consortium, which paves the way for due diligence to be completed for the sale of the 25 per cent stake in Zain Saudi .

Batelco Group CEO, Peter Kaliaropoulos, commented that “we were always confident that the consortium would satisfactorily address all matters raised by Zain Saudi. This is a complex transaction involving four different companies. Understandably all issues relating to the due diligence exercise and the scope and commercial terms of the management agreement required careful consideration and negotiation by all parties.”

The due diligence is expected to be completed by end of August and the transaction finalised by the end of Q3.

Speculation last month suggested that the deal for the Kingdom Holding/Batelco consortium to acquire the stake in Zain Saudi could run aground as a result of Batelco not being guaranteed management control of the cellco. It had been suggested Batelco would consider lowering its offer for the stake if it was not able to secure management rights, a move that could affect the entire transaction being ratified.

The IFC, a member of the World Bank Group, has mobilised a US$115 million financing package for Vodafone Ghana from Chinese, German, and African institutions to help the company enhance its telecommunications network, and spread the benefits of mobile phone and broadband services in Ghana, especially in rural areas.

The debt package includes financing from a diverse group of commercial banks and development finance institutions, and is IFC’s first syndication with the Export-Import Bank of China and China Development Bank.

In 2010, IFC provided Vodafone Ghana with a US$100 million loan from its own account consisting of a US$75 million senior loan and US$25 million subordinated loan.