Vodafone Q1 Organic Service Revenue Down 0.2%; Affirms Full Year Guidance

Vodafone Group Plc (VOD.L,VOD) reported that its first-quarter Group revenue declined 2.3% to 10.65 billion euros due to foreign exchange rate effects. First-quarter organic service revenue declined 0.2%.

Vodafone Group said trading during the first quarter was in line with management’s expectations underlying fiscal 2020 outlook. The Group is confident in its full year guidance of: adjusted EBITDA of 13.8 billion euros – 14.2 billion euros, and free cash flow (pre-spectrum) of at least 5.4 billion euros.

Nick Read, Group Chief Executive, said: “Our service revenue growth improved during the first quarter, led by Italy, and mobile churn fell to another record low. Following a significant quarter of commercial activity, we expect the gradual recovery in our service revenues to continue, underpinning our financial outlook for the year.”

Separately, Vodafone Group Plc said it is proceeding with plans to monetise a substantial proportion of its European tower infrastructure during the next 18 months. Vodafone will legally separate its passive tower assets to create a new TowerCo, which will be operational by May 2020. Vodafone plans to monetise TowerCo with an IPO or disposal of a minority stake in TowerCo. The Group will use the proceeds to reduce debt.

Algeria protesters demand free elections within six months

Algerian protesters and opposition parties have demanded elections take place by the end of the year, after the interim president pushed for talks.

Opposition parties and activists in Algeria are demanding election in six months.

They want an independent body to oversee the polls.

Several groups took part in a National Forum for Dialogue meeting on Saturday.

Pro-democracy protests began in February – which led to the resignation of longtime President Abdelaziz Bouteflika two months later.

Al Jazeera’s Victoria Gatenby reports.

Tibetans celebrate Dalai Lama's birthday as he turns 84

Hundreds of people joined the Dala Lama in the Indian city of Dharamsala to celebrate his 84th birthday.

Tibetans around the world are celebrating the Dalai Lama’s birthday.

As the Tibetan spiritual leader, who lives in self-imposed exile in India, turns 84, the question about his successor has become more pressing.

Al Jazeera’s Sara Khairat reports.

Malawi Protests: Rallies against President Mutharika

Demonstrators say president’s May re-election victory by a narrow margin was rigged but he denies wrongdoing.

In Malawi, thousands of protesters have marched for a second day to express their anger over the re-election of President Peter Mutharika over Lazarus Chakwera by a narrow margin.

Opposition leaders say the result of the May poll was rigged, and they are demanding that election organisers be sacked.

Al Jazeera’s Fahmida Miller reports.

Migrants risk their lives by crossing dangerous river to reach US

Illegal crossings at the Rio Grande have increased in recent months, and so have drownings.

Increased enforcement along the US-Mexico border is expected to deter people from entering the United States, with authorities anticipating a 25 percent drop in arrests.

But as Al Jazeera’s Manuel Rapalo reports, the more desperate are still willing to risk their lives and freedom as they attempt to cross the potentially deadly Rio Grande River.

Drought in Nepal: Farmers struggle with lack of water

Climate change in Nepal is forcing people to come up with new ways to cope.

Farming in the shadow of the world’s highest mountains has never been easy – and climate change is making it even more difficult.

Villagers are having to come up with innovative ways to grow their crops because of the lack of water.

Al Jazeera’s Subina Shrestha reports from Nepal.

Vodafone to create European mobile mast company with potential for IPO

LONDON, July 26 (Reuters) – Vodafone said on Friday it would separate its mobile mast infrastructure in 10 European markets into a new organisation that it potentially could list, in a move it said would unlock value for shareholders.

The world’s second largest mobile operator announced the spin off along with a first-quarter trading update on Friday that saw group service revenue decline by a better-than-expected 0.2%. It said a gradual recovery in its previously weak top line would continue.

Kenyan farmers have high hopes for new African free trade

What the new African free trade agreement could mean for farmers in Kenya.

African leaders are in Niger to put the finishing touches on a plan for the world’s largest free trade zone.

Once up and running, it will bring all 55 members of the African Union into a single market of well over a billion people.

Advocates of the trade deal hope it will bring employment opportunities to millions of people on the continent.

Al Jazeera’s Malcolm Webb reports from Thika in Kenya about what the free trade agreement could mean for farmers there.

Greece Election: Conservatives hope to defeat left

President Mitsotakis promises to lower business tax by 20 percent, and social security contributions by 15 percent.

Voters in Greece will head to the polls on Sunday for the first time since the height of the country’s financial crisis.

Opinion polls suggest the conservative New Democracy party is on course to win following the left-wing Syriza party’s electoral defeat in the European Parliament elections.

Al Jazeera’s John Psaropoulos reports from Athens.

Nestle posts first-half organic growth of 3.6%

Food giant Nestle said strong demand for its products in the United States and Brazil helped the KitKat chocolate bar maker accelerate sales growth during the first six months of 2019.

Organic sales, which strip out currency swings and acquisitions and disposals, matched analyst expectations for 3.6% growth, an improvement over 2.8% in the year-ago period.

Net profit at the world's largest packaged food company fell 14.6% to 5.0 billion Swiss francs ($5.05 billion), as the year-ago period benefited from a $2.8 billion one-off gain linked to selling it U.S. confectionery business to Ferrero.