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Sat Sep 24 22:56:47 CAT 2016

Business nibs

AFP, Bloomberg, BDlive | 23 September, 2016 07:59

Image by: Sizwe Ndingane, The Times

Airlines are expected to post record profits of almost $40-billion this year, the head of industry body Iata said yesterday, but he warned that the sector faced threats from terrorism, protectionism and a sharp rise in oil prices.

Airlines' record profits

AIRLINES are expected to post record profits of almost $40-billion this year, the head of industry body Iata said yesterday, but he warned that the sector faced threats from terrorism, protectionism and a sharp rise in oil prices. Alexandre de Juniac said that the net profit of the airline industry worldwide would hit $39.4-billion, as against $35.3-billion in 2015. - AFP

Nigerian to buy Arsenal

ALIKO Dangote, said to be Africa's richest man, plans to buy London's Arsenal soccer team within four years. Dangote, a Nigerian worth $10.9-billion according to the Bloomberg Billionaires' Index, said he needs to wait for his business prospects to improve and his investments in gas pipelines and an oil refinery to play out before making the acquisition. - Bloomberg

Prasa, Vodacom deal

THE Passenger Rail Agency of SA has entered into a R1-billion telecommunications partnership agreement with Vodacom that will allow the service provider to lease the agency's dark fibreoptic cables for the next 15 years.

Prasa said yesterday that the deal would "go some way towards the call for data prices to fall".

Last week Vodacom won an estimated R5-billion government contract to supply data and voice services to as many as 1.3million government employees for four years. The deal was the biggest the company had signed with the public sector.

The deal is expected to save the Treasury money and provide government departments with a reliable telecommunications supplier. - BDlive

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