AMU VC praises Saudi alumni for excellent contributions

AMU Vice Chancellor Professor Tariq Mansoor, seated 5th from right, with AMU Old Boys Association Jeddah Chapter office-bearers and other guests in Jeddah on Thursday. (AN photo)
Updated 10 November 2017

AMU VC praises Saudi alumni for excellent contributions

JEDDAH: The Jeddah-based alumni of India’s historic Aligarh Muslim University (AMU) on Thursday celebrated the bicentennial celebrations (1817-2017) of the university’s founder Sir Syed Ahmed Khan.
The most prominent guest at the event at Jeddah’s Crowne Plaza Hotel was AMU Vice Chancellor Professor Tariq Mansoor. The event was organized by the AMU Old Boys Association’s Jeddah Chapter.
The university’s alumni hold many responsible and prominent positions in Saudi Arabia in the fields of academia, industry, health care, media, medicine and engineering.
Among the other guests were Consul General Noor Rahman Sheikh, Ameer Ahamed, chairman, Manappat Foundation, and prominent Riyadh-based educationist Nadeem Tarin.
The Jeddah Chapter of the AMU Old Boys Association is headed by Azizurrab A. Mohammad. Nooruddin Khan is vice president; Asim Zeeshan is general secretary and Ather Rasool is treasurer.
Talking to Arab News, the vice-chancellor praised the alumni community in Saudi Arabia.
“Saudi Arabia’s alumni network is one of the best because of the active participation in AMU work. The alumni are helping in the development of the university. Recently, they donated a significant amount for the smart classroom project. I have thanked them for their hard work and commitment,” he said. “The alumni association in Riyadh, in cooperation with the Jeddah association, is constructing a hostel for 15,000 students at AMU India, named Riyadh Hostel,” he said.
The vice-chancellor discussed the virtues of tolerance, pure morality, knowledge, large-heartedness, and free inquiry among AMU students and staff.
“Our top priority is to develop research and innovation at AMU. We are starting new employment-oriented courses such as a college of nursing, paramedical college, veterinary college and institute of pharmacy,” he said.
He added that the central government had recently given the university a total of 900 million Indian rupees ($13.9 million) for the development of these projects at AMU.
“Total integrity will be my priority. It is non-negotiable,” he said.
Mansoor said: “My aim is to maintain transparency within our system. We have a clear transparent system provided by the Indian government in order to avoid the misuse of funds.”
Mansoor said that there were many issues related to teachers, students, non-teaching staff including law and order problems on the campus. There are always some undesirable elements trying to disturb the peace of the university.
“I want the AMU campus to become more tolerant, democratic, with a greater scientific temperament. It should be open to ideas,” he said.
AMU is offering thousands of scholarships for Indian and foreign students with the aim of providing a high-quality education.
“We are a residential university and 16,000 students live on campus. We have students from 31 states and union territories. AMU has more than 800 foreign students from Malaysia, Indonesia, Thailand, Bangladesh, Afghanistan, Iran, Yemen, Jordan, Syria and North African countries,” he said.
AMU offers hundreds of courses in 303 departments. The university has approximately 22,000 students at the higher level and 15,000 students in school.
“We are open to collaboration with Saudi universities in the field of geology, petrochemicals, petroleum studies and chemical engineering and West Asian studies. The AMU library is one of the best in the world. Many scholars from Egypt, South Africa, West Asia come for the library. We have also established a modern Qur’anic center in collaboration with Oxford University,” he said.
Mansoor said that AMU had a large alumni network spread all over the world including in the US, Europe, West Asia, the Middle East, and New Zealand among others.
He said that the university had signed agreements with different universities including the University of Washington, Ohio State University, the University of Massachusetts, the University of Sharjah, Queen Elizabeth Hospital in the UK, among others.
“Kuwait University is eager to sign an agreement in the field of petrochemicals, chemical engineering and management; hopefully we will sign the agreements in the near future.”
A surgeon by profession with a special interest in breast and thyroid diseases, Mansoor has 33 years of teaching and 35 years of clinical experience. He has 90 publications to his credit and has guided 49 postgraduate medical students for their theses as supervisor/co-supervisor.

GFH reveals boost in first-half profits

Updated 14 August 2018

GFH reveals boost in first-half profits

GFH Financial Group has announced that net profit attributable to shareholders rose to $72.5 million in the first six months of 2018, a 16.7 percent increase from the same period a year earlier. The group also reported a consolidated net profit of $73.4 million in the first half of the year, a rise of 12.1 percent.

Net profit attributable to shareholders for the second quarter increased by 19.2 percent to $36 million. Consolidated net profit during the quarter rose to $36.5 million, an increase of 14.1 percent.

Earnings per share for first half of the year was 2.02 cents, compared with 2.51 cents in the first six months of 2017. Earnings per share for the second quarter was 1 cent, compared with 1.22 cents in the same period of 2017.

Total consolidated revenues in the first half, grew by 12.5 percent to $124.2 million, primarily from revenues generated by its investment-banking business. This included income generated from investment placements for private equity and real-estate transactions. Consolidated revenues for the second quarter stood at $63.7 million, an increase of 4.8 percent.

Profit before impairment allowance for the first half of the year was $79.1 million, an increase of 34.1 percent. Consolidated operating profit for the second quarter increased by 23.5 percent to $40.5 million. Total operating expenses for the first half fell to $45.1 million from $51.4 million. Operating expenses for the second quarter dropped to $23.2 million from $28 million a year earlier.

Equity attributable to shareholders was $1.11 billion for the first half, compared with $1.14 billion a year ago. The total assets of the group increased by 10.3 percent to $4.3 billion.

“We are pleased with the continued growth in profitably for the first half of 2018,” said GFH Chairman Jassim Alseddiqi. “Enhanced results and revenue generation for the period were supported by increased contributions from the group’s investment-banking business, where it continues to demonstrate a strong ability to identify and bring to the market unique investment opportunities.”

Hisham Alrayes, the group’s CEO, added “In line with the Group’s strategy, the ongoing growth in our investment-banking business continues to drive enhanced results and profitably. In particular, during the period, improvements in income generation came from a number of strategic deals, including our landmark investment in the UAE-based Entertainer, and a notable trophy real-estate asset in Chicago.”