China strengthens COVID-19 prevention measures as cases rise in Shanghai
October 11, 2022, 11:30 am

China strengthens COVID-19 prevention measures as cases rise in Shanghai

Shanghai announces Monday April 18 the death of three people due to Covid-19 (Photo: Pixabay)

Chinese authorities have stepped up testing in Shanghai and other megacities as COVID infections rise again, as well as extending quarantine times and closing some public spaces where the virus could spread.

Local infections have risen to their highest since August this week, and the uptick is coinciding with increased domestic travel during the National Day “Golden Week” holiday earlier this month.

Shanghai, a city of 25 million people, reported 28 new local cases for October 10, authorities said on Tuesday, the fourth day of double-digit increases.

Nationwide, 2,089 new local infections were reported, the highest since August 20.

While most of the cases have been found in tourist destinations, including scenic spots in the northern region of Inner Mongolia, megacities that are often the source of well-heeled and well-travelled tourists started to report more cases this week.

FDA Authorizes First Breath Test for COVID-19 Infection (File photo: Pixabay)

Shanghai, keen to avoid a reprise of the economically devastating and psychically scarring lockdown in April and May, said late on Monday that all of its 16 districts were to conduct routine testing on their residents at least twice a week until November 10. That’s a step up from once a week presently, a regime imposed after the earlier lockdown was lifted.

Checks on people travelling to Shanghai and places such as hotels, should also be strengthened, municipal authorities said.

The expanding web of COVID preventive measures have already ensnared some people.

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Peter Lee, a long-time British expatriate, was out at lunch with his wife and seven-year-old son last week when he was suddenly notified his apartment block was to be locked down for 48 hours.

Lee and his son checked into a hotel, which was then also locked down due to a prior visit by a virus carrier. Lee’s wife, who was planning to join them, had no choice but returned home to be locked in, and then had her lockdown extended.

Father and son are due to be released on Thursday, while Lee’s wife won’t be released until Sunday.

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“It might be that we say, we miss home and we miss mum too much and maybe we just go home and just deal with it, but we also lose another weekend then,” Lee told Reuters.

“We are monitoring the situation because it seems like Shanghai is gradually shutting down anyway and if everything starts to close then there won’t be much benefit in being able to come and go.”

Despite the very small caseload versus the rest of the world, and the toll its tough counter-epidemic policies exact on the Chinese economy and its population, the government has repeatedly urged people to accept the measures.

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“We must be soberly aware our country is a large one with a population of over 1.4 billion, coupled with unbalanced regional development and insufficient medical resources overall,” state-controlled People’s Daily wrote in a commentary on Tuesday.

“Once a large-scale rebound occurs, the epidemic will spread, and is bound to have a serious impact on economic and social development, and the final price will be higher and losses will be greater.”

The latest COVID restrictions come days ahead of a once-every-five-years Communist Party congress starting on October 16, where Xi Jinping is widely expected to extend his decade-long leadership for another five years.

Source: alarabiya

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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.