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British PM Johnson prepares fresh Brexit push

Prime Minister Boris Johnson prepared to Monday make a second attempt to ram his EU divorce deal through parliament and avoid the political damage of delaying Brexit next week.
Another momentous week in the tortuous saga could end with Johnson engineering a divorce from Brussels that breaks many of the island nation's economic relations with Europe after 46 years.
British lawmakers dealt a dramatic blow to Johnson's Brexit plan at the weekend by refusing to give their backing to his revised withdrawal agreement until the legislation needed to ratify it has passed.
His foes are now forging new alliances and trying to attach amendments that could either force Johnson to accept closer trade ties -- or abandon the deal and accept a third delay this year.
The option of extending the three-and-a-half year crisis past the October 31 deadline is now in the hands of the 27 remaining EU member states.
Johnson, who took office vowing to deliver Brexit on schedule, was mandated by UK lawmakers Saturday to send a letter to Brussels asking for more time.
The British leader ended up sending three letters on Saturday night. The only one he actually signed said an "extension would damage the interests of the UK and our EU partners" and that he was firmly against it.
The manoeuvre is designed to minimise the political damage of Johnson going back on his word and seeking an extension ahead of an early general election most expect in the coming months.
The top civil court in Scotland will hear a challenge Monday on whether Johnson's half-hearted request broke the law.
But EU officials were still making preparations for Britain to leave in 10 days' time.
"The EU is keeping all options open and has therefore initiated the ratification process so that it can be handed over to the European Parliament on Monday," an EU diplomat told AFP.
Johnson's first effort to get parliamentary backing for the deal he sealed against heavy odds last Thursday in Brussels was scuttled at a very rare Saturday sitting of MPs.
Lawmakers pushed through an amendment obliging a furious Johnson to ask for an extension until the British legislation governing the withdrawal is drafted and passed.
The step was designed to cut off the possibility of Johnon following through on his repeated threat to take Britain out at any cost at the end of the month.
Analysts said the process -- even when fast-tracked -- would normally take several weeks.
House of Commons Speaker John Bercow might tell Johnson on Monday that he cannot bring what is effectively the same legislation back for a second vote.
This would switch the focus on the government's attempt Tuesday to get lawmakers to support domestic legislation in the accompanying Withdrawal Agreement Bill.
Success or failure then would set the course for the coming week and largely determine whether Johnson's will get his October 31 divorce.
But the deck against Johnson seems stacked.
The main opposition Labour Party is trying to create a cross-party alliance that would back Johnson's deal on the condition that it is fixed to keep Britain in a customs union with the EU.
Johnson and his supporters say this would kill the point of Brexit by keeping Britain tied to Europe and unable to strike its own trade deals with powers such as China and the United States.
Labour is trying to create a quick marriage of convenience with Johnson's nominal allies in Northern Ireland's Democratic Unionist Party.
The DUP broke ranks and voted against Johnson's agreement Saturday because it created new trade regulations for goods moving between Northern Ireland and the rest of the UK.
A customs union would avoid that.
The Brexit-supporting DUP appeared open to the suggestion after rejecting another amendment backed by Labour that would put up any eventual deal for a confirmatory referendum.
Hundreds of thousands rallied in London on Saturday demanding a second national vote on Brexit that could overturn the 2016 EU referendum's results.
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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