RIYADH – Zain Saudi reported a narrowing second-quarter loss Wednesday. Saudi Arabia's No.3 telecoms operator, an affiliate of Kuwait's Zain, made a net loss of SR349 million ($93.1 million) in the three months to June 30, against a net loss of SR448.2 million in the year-earlier period. The company attributed the narrowing loss to a decrease in financing costs. Quarterly gross profit was SR1.41 billion, down from SR1.64 billion a year ago. The operator's share of the Kingdom's mobile subscribers fell four percentage points to 12 percent in 2011, its annual report said. – SG
