Britain and France urge allies to keep backing Ukraine, put pressure on Putin
May 13, 2022, 12:18 pm

Britain and France urge allies to keep backing Ukraine, put pressure on Putin

National Guard of Ukraine (File photo: Euromaidan Press)

The Arabnews reported, France said Friday (May 13), G7 industrialized nations are “strongly united” in backing Ukraine until its “victory” against Russia. The announcement came as Britain urged more weapons for Kyiv to keep up the pressure against Vladimir Putin.

“It is very important at this time that we keep up the pressure on Vladimir Putin by supplying more weapons to Ukraine, by increasing the sanctions,” said British Foreign Secretary Liz Truss as she arrived for a second day of talks with her Group of Seven counterparts.

She added: “G7 unity has been vital during this crisis."

French Foreign Minister Jean-Yves Le Drian said the G7 countries were “very strongly united” in their will to “continue in the long term to support Ukraine’s fight for its sovereignty until Ukraine’s victory.”

In Brussels this evening (Apr 6 2022) at NATO for exchanges with our allies of the Quint on the war in Ukraine. Unity, solidarity, adaptation of the Alliance in complementarity with the European Union (Photo: Jean-Yves Le Drian official Twitter account)

The foreign ministers are meeting over three days in the resort of Wangels in Germany, which currently holds the presidency of the group.

The war in Ukraine is set to be the main topic on the agenda, with Ukrainian and Moldovan foreign ministers Dmytro Kuleba and Nicu Popescu also on the guest list.

Zelensky ready to talk with Putin to find an agreement, but with no ultimatum

Russia invaded Ukraine on February 24 but Ukrainian forces managed to push Moscow’s forces back from Kyiv, and the conflict is now well into its third month.

Western countries have supplied Ukraine with weapons, including artillery, anti-aircraft missiles, anti-tank weapons and other powerful materiel, but Kyiv has been pushing allies for more support.

Le Drian also pointed to the global effects of what he called a “lasting conflict... particularly in the area of food security.”

UK promises further $375 million in military aid for Ukraine

German Foreign Minister Annalena Baerbock had also on Thursday highlighted the growing impact of the war on poorer countries.

The minister said that “We as the strongest industrialized democracies have a special responsibility” to help poorer nations weather the food and energy squeezes caused by the war.

Source: arabnews

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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.