Stock Markets
Schools shut, exams cancelled: War shatters Sudan’s education sector
© Reuters. FILE PHOTO: Zahra Haroun, 19, Nawal Adama, 32, Zahra Mohamed, 20, Sudanese refugee teachers who have fled the violence in Sudan’s Darfur region, give their first entertainment and sport training session for refugee children at makeshift shelters near the
2/2
By Adam Makary
CAIRO (Reuters) – When war in Sudan’s capital forced Sarah al-Sharif and her family to flee, the 19-year-old information technology student left her books and computer behind.
Now in Sennar, 30km (18 miles) southeast of Khartoum, she lacks a stable internet connection or passport to travel abroad and like many others sees no way of continuing her studies while fighting between rival military factions rages.
The conflict, which began in mid-April, has pushed Sudan’s faltering education system into a state of collapse, with many schools shut down or repurposed to host displaced people, and most national end-of-year exams cancelled.
“This war has spelled the end of education in Sudan, and things have turned from bad to impossible,” said Sharif.
The conflict has brought daily battles to the streets of Khartoum, a revival of ethnically-targeted attacks in Darfur, and the displacement of more than 4 million people within Sudan and across its borders.
According to Simone Vis of UNICEF in Sudan, there are “an alarming number of reports that both boys and girls are being recruited by armed groups”.
At least 89 schools across seven states are being used as shelters for the displaced, according the United Nations, raising fears that many children will have no access to schools in the new academic year and could be exposed to child labour and abuse.
On Wednesday, the education minister cancelled most end of year school exams in war-affected areas.
“In the current circumstances, anyone would see that it is impossible to have a new academic year,” said Sahar Abdullah, a displaced teacher from Khartoum also seeking refuge in Sennar.
TEACHERS STRIKE
Even before the war between Sudan’s army and the paramilitary Rapid Support Forces (RSF), Save The Children ranked Sudan as one of the top four countries globally where education was at extreme risk.
Now the number of children out of school has risen to 9 million from 6.9 million, more than one million school-aged children have been displaced and at least 10,400 schools have been closed since fighting started, according to the charity.
While Khartoum has a proud intellectual tradition, the schooling system had been run down by underinvestment, political interference and a grinding economic crisis. It was then disrupted by street protests before and after the 2019 ousting of former leader Omar al-Bashir, by unusually heavy floods in 2020 and by the coronavirus pandemic.
Due to overcrowded school classrooms, “some of the students would bring chairs with them to class. There weren’t enough textbooks to help teachers do their job,” said Abdullah, the displaced teacher.
State-employed teachers staged a three-month strike over pay and working conditions just before the war broke out. As many as 300,000 teachers have not been paid since March, a senior member of the Sudanese Teachers’ Committee said.
“I haven’t been paid a salary in four months, and I have no idea when I’ll return to work,” said Fatima Mohamed, a displaced teacher who fled Khartoum to Gedaraf state after her school was overtaken by the RSF.
‘WAIT AND HOPE’
Despite the interruptions in recent years, Rabab Nasreldeen had managed to get to the third year of law studies at the University of Khartoum when the war broke out.
Then she too had to flee, abandoning educational certificates and papers that might allow her to continue studying elsewhere. “The only option we have is to wait and hope for the best,” she said.
Aid workers are trying to help alleviate the crisis, setting up safe learning spaces and providing children with psychosocial support.
Education Cannot Wait, the U.N. global fund dedicated to education in emergencies, has raised $12.5 million and aims to provide educational services for 120,000 children in Sudan and neighbouring countries.
During the COVID-19 pandemic, parents in wealthy countries “didn’t want the children to wait a year or a month for their education,” said Yasmine Sherif, the fund’s executive director.
“So why should we expect them (in Sudan) to wait for education until the conflict is over?”
Some of those who have fled Sudan are seeking entry to schools and universities outside its borders, including in Egypt. But in Chad, where more than 377,000 refugees have arrived, there are no such options.
“I cannot go back to continue my education and I lost contact with my family,” Khalifa Adam, a displaced student who escaped to Adre, Chad from Darfur, told Reuters. “I was told I can continue studying online but the internet connection here in Adre is very bad.”
Sterling Construction Company, Inc. (NASDAQ:) has reached an impressive milestone, with its stock price soaring to an all-time high of $137.93. This peak represents a significant achievement for the company, reflecting a robust performance and investor confidence. Over the past year, Sterling Construction has witnessed a remarkable 84.48% increase in its stock value, underscoring the company’s strong market presence and the positive reception of its strategic initiatives. Investors and market analysts alike are closely monitoring STRL’s progress, as it continues to build on its momentum in the construction sector.
In other recent news, Sterling Infrastructure, Inc. announced two key changes in its leadership. The company revealed the upcoming retirement of board member Charles R. Patton, effective from September 1, 2024. Patton, who has been a part of Sterling’s Board since 2013, will step down after over a decade of service, during which he contributed to the Corporate Governance & Nominating Committee and the Compensation Committee.
In parallel, Sterling Infrastructure named Dan Govin as its new Chief Operating Officer. Govin, who brings over three decades of experience in the energy infrastructure industry, is set to lead the company’s strategic and operational initiatives. His past roles include Regional President at Quanta Services (NYSE:) and Senior Vice President of Operations.
In related developments, Sterling Real Estate Trust, a North Dakota-based real estate investment trust, recently held its annual shareholders’ meeting. During the meeting, eight trustees were elected, including Gregory P. Hammes, Timothy L. Haugen, and Michelle L. Korsmo, among others. Additionally, the appointment of RSM US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, was ratified by the shareholders. These are among the latest developments at Sterling Infrastructure, Inc. and Sterling Real Estate Trust.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
CRH (NYSE:) PLC, a global leader in building materials, has reached an all-time high, with its stock price soaring to $91.22. This significant milestone underscores the company’s robust performance and investor confidence in its growth trajectory. Over the past year, CRH has seen an impressive 66.73% increase in its stock value, reflecting strong market demand and the successful execution of its strategic initiatives. The company’s ability to achieve this record price level amidst a dynamic economic environment speaks volumes about its resilience and the positive outlook shared by its stakeholders.
In other recent news, CRH Plc has seen a series of positive developments. Stifel, a financial services firm, has increased its EBITDA projections for the company by 4% for the years 2024 and 2025, following a positive outlook on CRH’s earnings. This includes the expected contributions from the newly acquired Adbri, which is predicted to add an additional 1% and 2% to the EBITDA in 2024 and 2025, respectively.
In addition, Deutsche Bank has raised its price target for CRH, maintaining a Buy rating on the stock, following the company’s acquisition of a majority stake in Adbri. This move is anticipated to enhance CRH’s materials solutions offerings in Europe.
Furthermore, CRH has appointed Lauren Schulz as its new Chief Communications Officer, a move expected to enhance the company’s global communications strategy.
Additionally, CRH has filed a notification regarding transactions by persons discharging managerial responsibilities, providing transparency into the dealings of the company’s management.
Lastly, CRH has reported strong growth in adjusted EBITDA and margin for the second quarter of 2024, and has raised its full-year adjusted EBITDA guidance to a range of $6.82 billion to $7.02 billion. These recent developments demonstrate the company’s resilience and strategic approach in a competitive market.
InvestingPro Insights
The ascent of CRH PLC in the stock market is not just a reflection of past performance but also a beacon for future potential, as suggested by InvestingPro data and insights. With a market capitalization of $60.88 billion and a forward-looking P/E ratio of 17.69, CRH is positioned competitively within the Construction Materials industry. Its commitment to shareholder returns is evident through a consistent dividend growth, having raised its dividend for the last four years, and a dividend yield of 1.39% as of the last twelve months leading up to Q2 2024. These financial gestures indicate management’s confidence in the company’s profitability, which is further supported by a strong gross profit margin of 34.85%.
In addition to its financial health, CRH’s operational efficiency is highlighted by an EBITDA growth of 13.63% in the same period. Notably, analysts have revised their earnings upwards for the upcoming period, signaling potential for continued growth. For investors seeking more detailed analysis, there are additional InvestingPro Tips available, including insights into CRH’s share buyback strategy and its performance relative to industry peers. These tips, accessible through the InvestingPro platform, offer a comprehensive view of the company’s strengths and investment potential.
For those monitoring CRH’s trajectory, the stock is trading near its 52-week high, at 99.14% of its peak, with a previous close at $89.27. The company’s next earnings date is set for November 7, 2024, which will provide further clarity on its performance and outlook. With a fair value estimate of $101 by analysts and an InvestingPro fair value of $74.35, investors are presented with a nuanced picture of CRH’s valuation. As the market anticipates CRH’s next financial disclosures, the InvestingPro platform remains a valuable resource for real-time data and expert analysis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
In a remarkable display of market confidence, Nelnet Inc (NYSE:) stock has achieved an all-time high, reaching a price level of $115.64. This milestone underscores a period of significant growth for the company, which has seen its stock value surge by 27.28% over the past year. Investors have rallied behind Nelnet’s strong performance, propelling the stock to new heights and reflecting optimism in the company’s future prospects. The all-time high represents not just a peak for the year but an unprecedented value in the company’s trading history, marking a momentous occasion for both Nelnet and its shareholders.
In other recent news, Nelnet Inc. has been under the spotlight following strong Q2 earnings and subsequent adjustments by TD Cowen. The firm increased Nelnet’s price target to $98.00, up from $96.00, while maintaining a Hold rating on the stock. This follows Nelnet’s Q2 2024 earnings report, which highlighted an EPS of $1.44, surpassing TD Cowen’s estimate of $1.33. The improved earnings were largely due to reduced operating expenses and a lower provision for losses. However, these gains were slightly offset by a decrease in fee income and a lower net interest income.
In recent developments, Nelnet disclosed its quarterly financial results to the Federal Deposit Insurance Corporation (FDIC). The report provides a snapshot of the financial health of Nelnet Bank, its wholly-owned subsidiary, and includes critical data such as assets, liabilities, and income. This commitment to transparency and regulatory compliance allows investors to gauge Nelnet’s financial stability and growth prospects.
Furthermore, Nelnet’s bank subsidiary, Nelnet Bank, also disclosed its quarterly financials. The report, known as the Call Report, is a significant indicator of the subsidiary’s contribution to Nelnet’s overall financial status. This routine disclosure aligns with the requirements of the Securities Exchange Act of 1934, providing a clear view of Nelnet Bank’s financial standing as of the last quarter.
InvestingPro Insights
In light of Nelnet Inc’s (NNI) recent achievement of an all-time high stock price, several InvestingPro Tips and real-time data points provide further context to the company’s financial health and market performance. Notably, Nelnet has demonstrated a robust track record by raising its dividend for 9 consecutive years and maintaining dividend payments for 18 consecutive years, which signals a strong commitment to shareholder returns. Additionally, analysts remain optimistic about the company’s profitability, expecting net income to grow this year.
From a data standpoint, Nelnet’s current market capitalization stands at $4.15 billion with a price-to-earnings (P/E) ratio of 26.88, which adjusts to a lower ratio of 22.02 when considering the last twelve months as of Q2 2024, reflecting a more favorable valuation for investors. The company’s revenue growth has been modest at 0.7% over the last twelve months, yet it experienced a more significant quarterly surge of 12.82% as of Q2 2024. Importantly, Nelnet’s stock is trading near its 52-week high, at 99.06% of this peak, and has seen a large price uptick of 31% over the last six months. These figures underscore the company’s strong market presence and potential for continued growth.
For those interested in deeper analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/NNI, which can provide investors with more nuanced insights into Nelnet’s performance and future outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Forex2 years agoForex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
How is the Australian dollar doing today?
- Forex2 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Forex2 years ago
Unbiased review of Pocket Option broker
- Cryptocurrency2 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities2 years ago
Copper continues to fall in price on expectations of lower demand in China
- Stock Markets2 years ago
Morgan Stanley: bear market rally to continue
