China undertake construction activities in areas it illegally occupied
November 12, 2021, 6:37 am

China undertake construction activities in areas it illegally occupied

Representative image-Construction site/Pixabay

The We For News reported that the Chinese Ministry of External Affairs said on Thursday, China undertook construction activities in the past several years along the border areas, including in areas it illegally occupied over the decades.

Ministry spokesperson Arindam Bagchi said that India has taken note of the US Department of Defense report to the US Congress, which inter-alia also makes a reference to the construction activities carried out by the Chinese side along the India-China borders, particularly in the eastern sector.

The spokesperson said: “India has neither accepted such illegal occupation of our territory nor has it accepted the unjustified Chinese claims."

Bagchi also stressed on the fact that the government has always conveyed its strong protest to such activities through diplomatic channels and will continue to do so in the future.

He said: “Further, as conveyed earlier, the government has also stepped up border infrastructure, including the construction of roads, bridges etc., which has provided much-needed connectivity to the local population along the borders."

The government remains committed to the objective of creating infrastructure along the border areas for the improvement of livelihood of its citizens, including in Arunachal Pradesh, he said.

Bagchi said: “The government keeps a constant watch on all the developments having a bearing on India’s security, and takes all the necessary measures to safeguard its sovereignty and territorial integrity."

Last week, the US Department of Defense in its annual report submitted to the US Congress on military and security developments had flagged that China has built a large 100-home civilian village inside the disputed territory between the Tibet Autonomous Region and Arunachal Pradesh.

The report had also stated that these and other infrastructure development efforts along the India-China border have been a source of consternation in the Indian government and the media.

Talking about the claims made in the US report, a senior security official stated that the said village being referred to has been under Chinese control since 1959.

The village has been built by China in an area that was occupied by the Chinese People’s Liberation Army (PLA) after overrunning an Assam Rifles post in 1959 in an operation known as ‘Longju’ along the frontiers in Arunachal Pradesh.

Source: wefornews

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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.