British Council partners with Ministry of Education for sports training program

Updated 09 February 2018
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British Council partners with Ministry of Education for sports training program

The British Council has partnered with the Saudi Ministry of Education to launch a sports training program in three cities: Riyadh, Jeddah and the Eastern Province.
The Youth Sports Leadership program was launched with a special ceremony at Al-Tarbiyah Al-NamoutHajjiyah School in Riyadh on Tuesday.
Youth Sports Leadership (YSL) training identifies and works with local coaches and trainers to engage young leaders aged 14-19 in the organization of accessible sports events and programs in their local communities.
Held in partnership with Youth Sports Trust International, an independent charity, the initiative helps build knowledge of sports teaching and inspire the next generation of leaders in community sport. YSL will run over the next two weeks in Riyadh, with additional trainings taking place in Jeddah and the Eastern Province later this month.
Speaking at the ceremony, Dr. Mohammed Al-Moqbel, executive director of the National Center for Professional Education Development, Ministry of Education said: “We’re delighted to be partnering with the British Council on this training project to improve the quality of sports teaching and coaching in schools across the Kingdom, something which is really important to the nation’s Vision 2030 goals and to ensuring that young people, students and teachers in every corner of the country have access to quality sports education that inspires and motivates them to lead healthy and active lifestyles.”
With the first week of training focused on supporting local coaches and trainers, the second week will see the trainers put what they have learned into action by mentoring young student leaders to plan and organize a safe, fun and inclusive sports festival for over 100 primary school students in their own communities.
Amir Ramzan, country director, Saudi Arabia, said: “The benefit that young people get from being involved in sports in any capacity is so valuable, from learning about teamwork and inclusion to organization and commitment. We’ve already seen that even participating in sport just once can impact crucial skills like problem solving and communication. As one of many projects in our Culture & Sports program, YSL will work with young people to engage them in sport and help them become leaders of the future. We are delighted to have the support of the Ministry of Education in this endeavor, and look forward to seeing its impact now and in the next three years.”


GFH reveals boost in first-half profits

Updated 14 August 2018
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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.”