In view of a fast growing communications sector in the Region and an increased demand on readily available information on various topics, Fastlink, one of the MTC group companies the leading telecommunications operator in the Middle East & Africa, has introduced a new service to customers, which allows them to receive latest updates on share prices in the local capital market, live and in real time on their mobile phones.
The service, developed in cooperation with Amman Stock Exchange (ASE) and MENAFN, leaders in the dissemination of financial and economic news in the Arab World, allow customers to receive direct news flashes and updates on share prices at the Amman Stock Exchange using Fastlink e-gateway; WOW through the mobile phone. The service enables customers to learn about the stock market index, the highest and lowest trading shares and other information, all on the screens of their mobile phones as it happens at the ASE.
Fastlink Chief Marketing Officer Bashar Arafeh said the Company continues to seek ways to keep customers informed on the latest news “right from the source and at the click of a button on their mobiles,” adding that this is just an addition to the various other services which customers receive via SMS, MMS or WOW.
Fastlink has asserted its position in the mobile service market in the Kingdom by continuously developing its services and staying focused on informing customers of the benefits of data services and the positive impact those have on their daily lives.
MENAFN is the only provider to channel stock related information between the ASE and traders, according to MENAFN Executive Director Sawsan A. Dababneh, who adds that mobile users in several Arab countries use the Company to obtain stock updates. She said introducing the service in Jordan further enhances a policy of transparency and disclosure, which is being adopted at ASE to promote and encourage investment in the Jordanian securities market.
Using WOW, users can search for any piece of information on the Internet using any of the existing search engines, such as Yahoo and Google, download music tones and JAVA games on their mobiles, and learn about movies showing in the theaters as well as other political, cultural, social and sports news.
According to Fastlink, data services are becoming increasingly on the demand as customers become more aware of the need and benefit of such service, and as mobile users increase in number. Revenue from data services is estimated at 12% of the Company’s revenues.
WOW, using WAP and GPRS technologies, is the e gateway through which customers can access any piece of information on the Internet and enjoy a multitude of services, such as browsing websites, playing games and reading email easily and conveniently.
About Fastlink
Jordan Mobile Telephone Services Company Ltd. “Fastlink”, founded in 1995, was the first operator to introduce mobile phone services into Jordan. In just a few years, the company earned its reputation as the most progressive telecom operator in the region in terms of competitiveness and readiness to adopt new technologies and deploy cutting-edge services. Since its inception, Fastlink has tallied subscriber growth at an exponential rate, with the number of users currently exceeding 1.7 million subscribers. Through more than 1,700 cell sites, Fastlink covers the entire populated area of the Kingdom. In January 2003, Mobile Telecommunications Company K.S.C. (MTC) acquired Fastlink in what was considered the largest single acquisition in the Middle East area, and the largest private sector investment in Jordan.
MTC Group
Mobile Telecommunications Company (MTC) was founded in 1983 and today is one of the largest mobile operators in the Middle East and Africa, with more than 9.5 million customers in Kuwait, Bahrain, Jordan, Iraq, Lebanon and 13 countries in Africa. MTC is listed on the Kuwait Stock Exchange.
In September 2002, MTC entered into a Partner Network Agreement with Vodafone, the world’s leading mobile community, in Kuwait creating MTC Vodafone Kuwait. In 2003 MTC continued its expansion with the acquisition of 96.4% of Fastlink in Jordan.
MTC’s aspiration did not slow down and in 2003 MTC-Vodafone Bahrain was launched with the first 3G/EDGE nationwide network in the world. In 2004 the MTC Atheer service was launched in Southern Iraq, and today covers Baghdad as well.
2004 also witnessed the government of Lebanon handing over the management of one of two mobile networks (Mic2) to the MTC Group, which is known now as mtc touch.
Most recently in March of 2005 MTC acquired Celtel International, a Duch communications network company with major interests in 13 Sub-Saharan African countries, in one of the biggest telecom deals in the Middle East and Africa worth $ 3.36 billion.
MTC Group now operates in 18 countries. With this deal MTC Group has completed its first phase of its 3x3x3 strategy which entails becoming a global operator with more than 15 million customers by 2011. MTC will continue to expand internationally through acquisitions, partnerships and green-field opportunities.
