PISJ-ES hosts its first Model UN conference

Twenty-nine delegates highlighted some of the emerging global issues including the UN’s Treaty on the Non-proliferation of Nuclear Weapons and SDGs (sustainable development goals).
Updated 09 February 2018

PISJ-ES hosts its first Model UN conference

Pakistan International School Jeddah — English Section (PISJ-ES) held its first model United Nations conference recently — a simulation of the UN intended to give students some insight into diplomatic norms and global issues.
The program formally began with a recitation of verses from the Holy Qur’an, followed by the national anthem of Pakistan.
The auditorium was designed to replicate the solemn, professional setting of the United Nations.
Twenty-nine delegates, representing countries including Pakistan, India, Saudi Arabia, China, America and Iran, highlighted some of the emerging global issues including the UN’s Treaty on the Non-proliferation of Nuclear Weapons (NPT) and SDGs (sustainable development goals), with the slogans “Unite in Peace; not in pieces” and the “Humanitarian situation in developing countries,” respectively.
The president of the NPT agenda was Shifa Ashar, while the agenda for SDG was headed by Anusha Khawaja. Wajeeh Khalil from the Commerce Club played the role of stage secretary.
During his opening address, school principal Adnan Nasir said: “The idea behind holding such events is not only to provide students a platform to express their thoughts and opinions, but also to inculcate in them the attributes of patience, wisdom, discipline, and acceptance of differing viewpoints, as today’s young delegates are the future’s mature ambassadors and diplomats.
“In order to create a world which is secure, prosperous and healthy, we must understand global issues which intertwine in such a way that all and everyone feel the impact,” he continued. “Change begins from within and enthusiastic youth are being counted on for positive change across the globe. Regardless of your age, your aspirations, your interests, your fields, your hobbies, your likes and dislikes, you all are responsible for making this world a better place.”
The principal also congratulated the Commerce Club for presenting such a well-thought-out program, and the senior school administration for all their hard work and flawless coordination to organize the event.

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.”