WHILE STILL ACHIEVING a 22 per cent rise in net profit in Q3 2014, Al Suwaidi suffered a series of setbacks in neighbouring Saudi Arabia last year, where 28 per cent owned affiliate Mobily cut profits for H1 2014 and 2013 by $381.2 million due to accounting errors. Nevertheless, Etisalat raised $4.3 billion in a corporate bond sale in June, the region’s biggest corporate issue ever, and completed its acquisition of Maroc Telecom, further expanding its African operations and repositioning some of its west African businesses under the unit.