Wednesday, August 4, 2010

Research In Motion~~ RIMM UPDATE

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Research In Motion's BlackBerry service will continue in Saudi Arabia, sources told CNBC Arabia Wednesday. Earlier, CNBC had learned the dispute between Saudi Arabia and RIM regarding the security of the service was getting close to a resolution. A number of banks and financial institutions in Saudi Arabia began informing their employees that they had received notice from the Saudi Telecommunications Company STC about the complete suspension of Blackberry services as of next Friday morning.
But now the situation has been defused, sources told CNBC Arabia.
"Based on the STC Feedback, Blackberry services will be continued until further notice," a company source said. more

From CNBC's Half-Time Report :
What’s the trade? I don’t care what Saudi Arabia does with BlackBerry and I wouldn’t hold my breath waiting for India to ban BlackBerry, says Zach Karabell. I expect RIM as well as Apple, and the new Android to dominate this space going forward.... for the record ..on my BlackBerry today, I bought more shares of Blackberry....

I got out of my position in RIM, reveals Joe Terranova. I think there are better places to put money. I wouldn't short though...

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