Telenor Q3 gets surprise boost from one-off gain in Pakistan

Telenor logo is seen displayed in this illustration taken, on May 3, 2022. (REUTERS)
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Updated 26 October 2022
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Telenor Q3 gets surprise boost from one-off gain in Pakistan

  • Norwegian telecoms operator last month issued a profit warning for 2022 citing spiralling energy costs
  • Company last month also announced restructuring of its Nordic business and a potential listing of its Asian unit

OSLO: Norwegian telecoms operator Telenor on Wednesday reported third-quarter core earnings above forecasts thanks to a one-off gain in Pakistan and reiterated that its full-year profit was expected to be in line with last year.

Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for July-September rose 1.6 percent year-on-year to 13.06 billion Norwegian crowns ($1.26 billion), while analysts on average had expected 12.51 billion crowns.

The operator, which has around 175 million customers in eight countries across the Nordic region and Asia, last month

issued a profit warning for 2022 citing spiralling energy costs.

“For the Group, high energy prices, especially in Norway, Denmark and Pakistan, continue to be a headwind,” Chief Executive Sigve Brekke said in a statement on Wednesday.

“However, the negative effects are, this quarter, countered by a reversal of sim tax provision in Pakistan.”

The company last month also announced a restructuring of its Nordic business and a potential listing of its Asian unit.


Pakistan begins preparations to host 2026 OIC ministerial conference on women

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Pakistan begins preparations to host 2026 OIC ministerial conference on women

  • Deputy PM Ishaq Dar says Pakistan is committed to advancing gender equality within the OIC framework
  • He says Pakistan seeks to strengthen and expand cooperation on women’s issues across the Muslim world

ISLAMABAD: Pakistan has begun preparations to host the 9th Organization of Islamic Cooperation (OIC) Ministerial Conference on Women in 2026, Deputy Prime Minister and Foreign Minister Ishaq Dar said on Monday, marking the start of inter-ministerial coordination for one of the bloc’s top policy forums on gender issues.

The conference, held approximately every three to four years, gathers ministers from OIC member states to review progress on women’s rights, share national policies and adopt new frameworks.

Previous ministerial meetings have focused on themes such as women’s economic empowerment, combating gender-based violence, and improving access to education and health.

“Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar @MIshaqDar50 chaired a meeting to review preparations for 9th OIC Ministerial Conference on Women, to be hosted by Pakistan in 2026,” the foreign office said in a social media post.

“The DPM/FM underscored the importance of successfully organizing the conference through close coordination with the OIC Secretariat and relevant Ministries,” it added.

He highlighted Pakistan’s “proactive role” in advancing gender equality within the OIC and said hosting the 2026 gathering reflected the country’s commitment to strengthening cooperation on women’s issues across the Muslim world.

Senior ministers, secretaries from key federal divisions, Pakistan’s permanent representative to the OIC and other officials attended the meeting, which discussed preparatory arrangements and coordination needs.

While Pakistan has confirmed its role as host, no dates, venue or thematic agenda for the 2026 conference have yet been announced.

The previous OIC ministerial conference on women was held in Cairo in 2021, and focused on women’s empowerment, protection frameworks and socio-economic participation.