MWL Secretary General stressed the need for unrestricted delivery of humanitarian aid to the Palestinians by opening all crossings
With the year end slump in the local markets, its share prices have slipped from an opening of Dh80 per share to Dh74.10, a fall of 7.38 per cent.
As of the end of the 3rd quarter of 2005, Paltel's shareholder's equity was at Dh965.42 million, and in the first nine months of 2005 had generated net profits of Dh280.68 million with earnings per share about Dh2.77 for the same period.
Paltel has been very active in 2005 in terms of expansion. In February Paltel and its subsidiary, Palestine Cellular Communications Company Ltd. (Palcel), established Hadara for Technological Investment Company Ltd. (Hadara) to specialize in internet services. Hadara' had an authorised share capital of 7.1 million shares with Dh5.18 par value each, for a total of Dh36.778 million. Hadara is 75 per cent owned by Paltel and 25 per cent by Palcel.
In July 2005 Hadara purchased Palnet Company and its subsidiaries, InterPal Company, Vision Company and Palestine Internet Services for Dh9.91 million. Paltel bought out Palestine On Line Company (POL) in July for Dh3.76 million as well.
MWL Secretary General stressed the need for unrestricted delivery of humanitarian aid to the Palestinians by opening all crossings
In the initial phase, the organisation will process 600 applications from individuals who meet the required conditions
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