When Wataniya Telecom debuted on the Palestine Exchange last month, investors cheered.
It was a red-letter day for regional telecommunications companies. Wataniya's popular listing helped to boost the sector, and at the end of its first trading day the company and the rival PalTel were the highest valued companies on the exchange.
Although the market capitalisations of Wataniya and PalTel are relatively small compared with those of their regional peers - about US$335 million (Dh1.23 billion) and $950m, respectively - the companies' performance is symbolic of the recent success the telecoms sector has had in the Middle East.
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