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| Emirates airline group announces record $6.2 bn gross profit |
 Dubai's Emirates Group, which includes the Middle East's biggest airline, announced on Thursday gross annual profit of $6.2 billion, its third record in three years.
The 18 percent rise in profit, based on strong customer demand, slimmed to $5.6 billion after the UAE's recently introduced corporate tax, which was applied for a full financial year for the first time. "The Emirates Group has raised the bar to set new records for profit, revenue and cash assets," chairman Sheikh Ahmed bin Saeed Al Maktoum said in a statement. Emirates airline, excluding the group's other businesses, posted a record $5.8 billion pre-tax profit, up 20 percent from the year before. The group invested $3.8 billion in new aircraft, infrastructure and technology "to support its growth plans", the statement said. Its workforce grew by 9 percent to an unprecedented 121,223 employees. State-owned Emirates Group operates the world's largest long-haul carrier. As of March, it had 314 aircraft pending delivery, including 61 A350s and 205 Boeing 777x, the statement said. It said it was retrofitting 219 aircraft at a cost of $5 billion to make up for delayed Boeing orders. |
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EU approves 150-billion-euro loan scheme to rearm EU countries on Tuesday formally approved a new 150-billion-euro loan programme to help rearm in the face of Russia and worries over US reliability, according to the Polish presidency of the bloc. The borrowing programme is part of a package of measures including loosening budget rules that Brussels says could potentially unlock 800 billion euros of defence |
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Adesina: How I Raised AfDB’s Capital from $93bn to $325bn Emmanuel Addeh in Abuja and Nume Ekeghe in Abidjan President of the African Development Bank (AfDB), Akinwunmi Adesina, who is stepping down from the position after a decade of |
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NGX Market Capitalisation Crosses N70trn Mark on Demand for Airtel, Others Kayode Tokede The market capitalisation of the Nigerian Exchange Limited (NGX), yesterday crossed the N70 trillion mark, over investors demand for Airtel Africa Plc, and 35 others stocks.  Airtel |
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Court Empowers Employees to Seek Redress for Non-Remittance of Their Pension Contributions Ebere Nwoji Employers who fail to remit or under-remit pension contributions of their employees  are strictly liable under Nigerian law, and face limited legal defenses when such matters are |
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How 30 NGX Listed Companies Paid FIRS, Others N919.5bn Tax in Q1 Kayode Tokede It has emerged that a total of 30 companies listed on the Nigerian Exchange Limited (NGX) paid the Federal Inland Revenue Service (FIRS), and other revenue agencies |
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Ghana’s economic reset hinges on stronger Public-Private Partnership – President President John Dramani Mahama Monday underscored the need for deeper collaboration between the public and private sectors to drive Ghana’s economic recovery and long-term transformation.The post Ghana’s economic reset hinges on stronger Public-Private Partnership – President appeared first on Ghana Business |