Zain Cuts Targets

Blaming the global economic slowdown, Zain told Dow Jones Newswires that it plans to cut capital spending to between 1 billion and 1.5 billion US dollars in 2009 compared with 2.59 billion dollars in 2008. Zain, which has mobile operations across Africa and the Middle East, also lowered its target for an increase in net profit in 2009 from 30% to 20%. source: Total Telecom/Dow Jones