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|Zain Saudi Arabia Cuts its Losses|
ZAIN Saudi Arabia said its first quarter loss narrowed by 21% from a year earlier due to lower operating costs. Zain Saudi posted a loss of SR420 million ($112 million) in the three months to March 31, compared with a loss of SR532 million in the year-earlier period.
Total profit was SR702 million, down from SR716 million in the corresponding period of 2011 while the operational loss for the first quarter was SR191 million, down from SR233 million, the statement said.