Boris Johnson wins confidence vote and will continue as caretaker PM
July 19, 2022, 9:40 am

Boris Johnson wins confidence vote and will continue as caretaker PM

UK PM Boris Johnson at the House of Commons - Credit: House of Commons Twitter account

Boris Johnson's government has won a late night confidence vote in Britain's House of Commons after a bad-tempered five-hour debate, the Anews reported, citing the DPA.

Johnson, who has already officially resigned, is now expected to continue in his role as caretaker prime minister for the next seven weeks until a new Conservative Party leader is chosen to replace him.

Lawmakers voted 349 to 238, majority 111, to support the motion stating that the Commons has confidence in the government.

Johnson used his opening speech to run through what he perceived to be his greatest hits in office as he batted away calls for him to resign immediately rather than wait until September 5.

He spoke at length about Brexit, support for Ukraine and his handling of the Covid-19 pandemic amid furious heckling from the opposition benches.

In a hint at what is to come, Johnson also told MPs he will have "more to say" about the events surrounding his downfall "in due course".

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The debate came after a tumultuous few months which led to Conservative MPs, also known as Tories, forcing him to accept he has to step down, amid accusations of lying and rule-breaking.

Johnson denied his departure from Downing Street will be the end of Brexit, claiming some people believe Labour and the "deep state will prevail in its plot to haul us back into alignment with the EU as a prelude to our eventual return".

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He also spoke about his flight in a Typhoon fighter jet last week, before adding on the Tory leadership: "After three dynamic and exhilarating years in the cockpit, we will find a new leader and we will coalesce in loyalty around him or her.

"And the vast twin Rolls-Royce engines of our Tory message, our Conservative values, will roar on - strong public services on the left, and a dynamic free market enterprise economy on the right, each boosting the other and developing trillions of pounds of thrust.

"The reason we keep winning is we're the only party that understands the need for both. Whatever happens in this contest we will continue to fight for the lowest possible taxes and the lightest possible regulation."

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Labour former minister Kevin Brennan earlier said it was "highly unconventional" for Johnson to put down a confidence motion in his own government, adding: "Though I suppose he is an unconventional person, since only an unconventional man would want the opportunity to speak at his own funeral."

Labour leader Sir Keir Starmer said: "The delusion is never ending. What a relief for the country that they finally got round to sacking him.

"And in many ways the chaos of the last fortnight is familiar. The third Tory leadership contest in six years. The latest bumper summer for graphic designers and brand managers. The latest parade of pretenders promising unfunded tax cuts," Starmer said. "Every other year they switch out a failed prime minister."

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The Scottish National Party's Westminster leader Ian Blackford said: "Let's reflect on a man who should never have been put in office in the first place. A man that simply shouldn't be here for a minute longer, because he demonstrated no dignity in office, in the highest office in the land."

He added: "He doesn't deserve another day. Never mind another seven weeks."

Source: anews

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.