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Can NATO recover from Trump?

On February 17, Nato defence ministers gathered for a two-day teleconference to discuss the future of the transatlantic alliance. It was not a summit involving leaders of member states but nevertheless attracted unusual attention because it was the first high-level meeting since President Joe Biden replaced Donald Trump in the White House.
From its sprawling Brussels headquarters, the Norwegian secretary-general Jens Stoltenberg laid out plans to modernise Nato after four years of tensions with Washington and to deal with the increasingly assertive posture of Russia, as an adversary – if not a formal enemy. Another significant challenge is the rise of China. Others include the devastating global impact of the covid pandemic and climate change.
Biden’s defence secretary, Lloyd Austin, began by trying to improve US relationships. It was not an easy task because of the damage done by Trump’s hostility to the alliance. The Democrat’s commitment to multilateralism and promoting transatlantic ties is the single most positive aspect of the changing of the guard in Washington.
Other participants in the virtual call expressed relief at Austin’s striking change of tone about Nato’s enduring relevance, especially his reaffirmation of Article 5, the founding treaty provision that proclaims an attack on one ally to be an attack on all.
Trump, who was widely seen as the most anti-European American president since 1945, repeatedly confronted Nato members with demands that they spend more on defence and irritated fellow leaders by repeatedly making unilateral decisions – made without consulting them - and expecting them to agree.
Last June Biden said of his Republican rival: "If I lose and he gets elected, you will remember the things that I said will turn out to be right… and that is, if he gets elected, there will be no Nato.” Earlier he accused Trump of treating Nato “like a protection racket.” He also released a video of leaders chuckling at Trump, saying that the “world is laughing at the president.”
One of the consequences was that in 2019, Emmanuel Macron, the French President, said in an interview that Nato was “experiencing brain death” when alliance member Turkey launched an offensive against US-backed rebels in Syria, after Trump authorised Recep Tayipp Erdogan to go ahead in a private conversation.
Nato was created in 1949 for the collective defence of its members, linking the security of the US with its European allies against the Soviet Union. It witnessed the end of communism, defeating the Soviet bloc without firing a shot. It went to war for the first time in the Balkans in the 1990s. It then set out on a new path - so-called "out of area" operations beyond Nato's frontiers, notably operations in Afghanistan and the wider war against terror.
Last week’s defence ministers’ meeting announced a significant increase in military support for the Iraqi army in combatting Isis but postponed a long-awaited decision about Nato forces in Afghanistan – both issues highlighting its expanding role in recent years.
Countering Russia remains Nato’s primary challenge. Tensions rose with Moscow after Vladimir Putin’s annexation of Crimea in 2014, but Russia has come under pressure to reveal details of its novichok chemical weapons programme after Nato demanded an International investigation into the poisoning of opposition leader Alexei Navalny.
In the wake of recent protests across the country over the imprisonment of Navalny, and his accusation that Putin owned a £1 billion private palace on the Black Sea (the president denied that claim), the FSB security agency confirmed it had enforced a no-fly zone over the site and said the restrictions were imposed to protect the coast from “Nato spies.”
Stoltenberg also raised the vexed question of persuading the alliance’s 30 members to spend more nationally on defence. The US currently pays for around 70% of Nato’s budget – but it is of course a wealthy global power. That became the dominant issue in the Trump period, with the president singling out “delinquent” Germany (Europe’s largest economy) and complaining that “we don’t want to be suckers any more.” Trump administration officials repeated the Obama-era target of 2 per cent of GDP as the “gold standard” for defence spending by 2024, though that pre-dated the economic consequences of the pandemic.
The secretary-general warned that the "geopolitical” effects of covid could be significant if financial difficulties made "some allies more vulnerable for situations where critical infrastructure can be sold out." It was obvious that Stoltenberg was talking about China after recent warnings that Nato members need to more careful in dealing with Beijing, especially in allowing it to acquire advanced technology as well as container terminals in European ports from Piraeus, Zeebruge, Valencia and Bilbao.
Stoltenberg returned to the issue more explicitly at the Munich Security Conference days later when he described “the rise of China (as) a defining issue for the transatlantic community, with potential consequences for our security, our prosperity and our way of life.”
It was all a vivid reminder of how, in these fast-changing and uncertain times, that nothing can be taken for granted – not even the continued and effective existence of the most successful alliance in modern history.
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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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