Italian Cuisine Week to provide Jeddawies with the real Italian taste

Elisabetta Martini, the consul general of Italy in Jeddah with partners and sponsors of the Italian cuisine week
Updated 21 November 2017

Italian Cuisine Week to provide Jeddawies with the real Italian taste

JEDDAH: A press conference was held on November 20 in Jeddah at the Italian Cultural Club to reveal details of Italian Cuisine Week which will run from November 22-27.

Elisabetta Martini, the consul general of Italy in Jeddah, invited the main sponsors to tell the media about this five-day event.

The sponsors including restaurants, hotels representatives, and distributors introduced their plans for the week where each sponsor will be organizing an Italian event in a different location.

This is the second edition of the Italian cuisine week as the first one was in 2016. The Italian government wanted to help Italian restaurants with Italian chefs who are the best ambassadors of Italian culture all over the world in promoting Italian food.

Seetaff, PIATTO restaurant. Assila Hotel, Shurbatlu Fruits, Ferrero, Park Hayat Hotel, Hilton Hotel, Luacker, the University of Business and Technology are partners and sponsors.

Martini said: “Our aim of this event is not only to promote our own products and restaurants, but also to help local realities and universities to develop the know how to do better in supporting Vision 2030.”

She added: “Diplomacy is not only parties and visas, but also in economic development.”

There are many Italian restaurants operating here in the Kingdom, but according to Martini, it is important to differentiate between the authentic ones which have Italian chefs and use Italian ingredients, and those that just have Italian names.

Last year the Italian Culture Club hosted special guest Chef Marco Martini from Rome. Chef Marco is owner of The Corner restaurant, and in 2013 was named the best emerging chef in Italy.

This year, Chef Eleonora Galasso, an Italian food interpreter and a well-known social media figure in Italy, will be the special guest. She will appear on a cooking show and participate in the week’s activities.

The events available for the public are as follows:
November 21 1:00 p.m.: Ribbon cutting for PIATTO’s new menu
November 22 1:30 p.m.: Ribbon cutting for Lallo’s Italian Restaurant’s new menu.
7:00 p.m.: Safina Hilton will celebrate Italian Cuisine Week.
November 23 1:30 p.m.: Chef Gallasso will be at Tartufo and for the public to enjoy tasting the menu.
7:00 p.m.: A ribbon cutting for new Italian products to be provided at Manuel Supermarket
Also at the same day a work shop by the Chef Gallaso and Saudi Chef Basma Al-Kareji, the work shop is under the title “Women and gastronomy between East and West,” at the Social Kitchen.
November 24 1:00 p.m.: Park Hayat Hotel

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.”