Arabsat’s profits grow 11%

by Staff Reporter | April 14th, 2013

Arabsat increased its annual profits in 2012 by 11% as compared to 2011, a Kuwaiti minister is quoted as saying in a report by the Kuwait News Agency.

Kuwaiti Minister of Communications and State Minister of Housing Affairs Salem al-Uthaina made that statement after attending the 36th session of Arabsat’s board of directors’ meeting, currently hosted by Qatar.

He said a number of recommendations were adopted at the meetings and profit earnings were distributed among members of the organisation. A detailed report on Arabsat’s financial performance during 2012 will be released shortly.

The Kuwaiti minister affirmed that Jordan and Mauritania will be accepted as new members in the Arabsat and that Palestine will be relieved this year of paying its allotted dues to Arabsat because of the unstable political situation it is going through at this time.

 

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