The Emirates Group recently announced its half-year results for 2017-18. The group saw steady revenue growth and a rebound on profitability compared to the same period last year, in spite of the continuing downward pressure on margins, a rise in oil prices, and other challenges for the airline and travel industry.
The Emirates Group reported 49.4 billion dirhams ($13.5 billion) revenue for the first six months of its 2017-18 financial year, up 6 percent from 46.5 billion dirhams ($12.7 billion) during the same period last year.
Profitability rebounded after a low during the same period last year, with the group reporting a 2017-18 half-year net profit of 2.3 billion dirhams ($631 million), up 77 percent.
The group’s cash position on Sept. 30, 2017, was at 18.9 billion dirhams ($5.2 billion), compared to 19.1 billion dirhams ($5.2 billion) as of March 31, 2017.
Sheikh Ahmed bin Saeed Al-Maktoum, chairman and chief executive of Emirates Airline Group said: “A lot of the credit for our 2017-18 half-year results goes to our talented workforce who have worked hard to improve our business performance, and address our challenges without compromising on quality and service.
“Our margins continue to face strong downward pressure from increased competition, oil prices have risen, and we still face weak economic and uncertain political realities in many parts of the world. Yet, the group has improved revenue and profit performance… The easing of the strong US dollar against other major currencies helped our profitability,” he said.
The Emirates chief also said: “We are also seeing the benefit from various initiatives across the company to enhance our capability and efficiency with new technologies and new ways of working. Moving forward, we will continue to keep a careful eye on costs while investing to grow our business and provide our customers with world-class products and services.”
In the past six months, the group’s employee base reduced by 3 percent compared to March 31, 2017, from an overall staff count of 105,746 to 102,669. This was largely a result of natural attrition together with a slower pace of recruitment, as various parts of the business adopted new technologies, streamlined business processes and re-allocated resources.
Emirates Group’s half-year profits increase by 6%
Emirates Group’s half-year profits increase by 6%
PwC Middle East and Sirar by stc’s CISO500 program advances cyber leadership
The fifth edition of the CISO500 program ran from Feb. 8-12. Delivered in partnership between PwC Middle East and Sirar by stc, the program featured five intensive days of rich discussions and hands-on practical experiences, aimed at strengthening leadership capabilities in cybersecurity and keeping pace with rapid technological transformation.
The program is designed to develop the capabilities of executive cybersecurity leaders and enhance their strategic role in supporting organizations’ digital transformation. It equips participants to address contemporary challenges in the cyber landscape and expand their influence within decision-making ecosystems.
Yasser Al-Swailem, CEO of Sirar by stc, said that the program represents an important step toward strengthening the readiness of cyber leaders in the region. He noted that the CISO500 program is a fundamental pillar in the journey toward building a secure and trusted Saudi cyberspace aligned with national ambitions. He added that investing in national cybersecurity leadership is no longer optional but a strategic necessity for ensuring sustainable digital development. The program reflects a commitment to empowering national talent to lead the digital security landscape according to the highest global standards.
He further emphasized that such initiatives contribute to strengthening digital security ecosystems and enabling organizations to confidently and sustainably address future challenges.
Samer Omar, cybersecurity and digital trust leader at PwC Middle East, added: “CISO500 is a long-term investment in Saudi leadership. Over the past year, we’ve seen how bringing together senior Saudi cybersecurity professionals in a structured executive environment accelerates capability, builds confidence and deepens collaboration. As the program enters its second year, our focus remains on equipping Saudi CISOs with the strategic perspective and technical depth required to secure the Kingdom’s digital ambitions.”
The program addressed a range of advanced topics, including common cyber transformation pitfalls, mechanisms for securing enterprise digital transformation, and cybersecurity budgeting and financial governance. These topics enhanced leaders’ ability to translate cyber risks and security investments into financial indicators that support executive decision-making.
It also covered the latest technological developments, particularly artificial intelligence, emerging technologies, quantum computing, and the protection of critical and operational infrastructure. Emphasis was placed on the importance of security governance for AI technologies and strengthening enterprise-wide risk management perspectives associated with them.
The program adopted an interactive learning methodology combining strategic discussions, collaborative work, and creative practical exercises, contributing to a deeper understanding of concepts and enabling their translation into applicable organizational practices.
Abdullah Al-Asmari, global cybersecurity director at the Saudi Research and Media Group and one of the program participants, said that the experience added significant strategic and practical value: “The program provided a rich experience that strengthened the leadership perspective of cybersecurity, particularly in linking technical practices with strategic and financial dimensions within the organization. It also offered valuable space for exchanging expertise on emerging technologies such as AI and quantum computing, and the challenges of securing critical infrastructure. This experience enhances cyber leaders’ ability to adopt a more influential role in supporting digital transformation and enabling decision-making based on a comprehensive understanding of risk and value.”
He added that the program facilitated the exchange of insights on emerging challenges and strengthened the ability to align cybersecurity with institutional objectives and executive decision requirements.
Participants said that the program constituted a valuable professional and knowledge-driven experience that enhanced the readiness of cyber leaders to keep pace with rapid digital transformation, reinforcing cybersecurity’s role as a strategic enabler that supports innovation while preserving business trust, reliability, and sustainability.
