RIYADH, 20 October 2005 — Etihad Etisalat (Mobily) said yesterday it cut net losses in the third quarter to SR166 million ($44 million), down 60 percent from the second quarter when it started operating. Mobily, which launched its mobile telephone service in Saudi Arabia in May, said it had already attracted 1.45 million subscribers by the end of September, well ahead of a targeted one million users by the end of the year. Mobily shares rose 3.5 percent on the news to close yesterday’s morning trading session at SR624. Saudi Telecommunications Co, which held a monopoly on mobile services before Mobily entered the market, has around 10 million mobile subscribers.