Facebook battles global outage and whistleblower revelations
October 5, 2021, 12:08 am

Facebook battles global outage and whistleblower revelations

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The Yahoo News reported, Facebook battled dueling crises Monday as potentially billions of users were impacted when its dominant social network went offline for seven hours, and the company fought against a whistleblower's damning revelations.

The Yahoo News said, the long-held fears and criticisms about the platform seem to have been backed up by Facebook's own research, which ex-worker Frances Haugen has turned over to authorities and the Wall Street Journal.

But as US senators prepared for her highly anticipated Tuesday testimony on the documents, Facebook went offline in an outage that hit users across its platforms, including Instagram and WhatsApp.

Tracker Downdetector wrote on its website: "Billions of users have been impacted by the services being entirely offline today."

Facebook apologized in a tweet later Monday Silicon Valley time, just as the apps started to go back online.

The company added: "We've been working hard to restore access to our apps and services and are happy to report they are coming back online now."

According to the Yahoo News, Facebook has not communicated on the possible cause of the outage, but cyber security experts noted they had found signs that online routes that lead people to the social giant were disrupted.

According to a post from cyber security expert Brian Krebs: "Sometime this morning Facebook took away the map telling the world's computers how to find its various online properties."

In addition to the disruption to people, businesses and others that rely on the company's tools, Facebook CEO Mark Zuckerberg took a financial hit.

Fortune's billionaire tracking website late Monday said Zuckerberg's personal fortune plunged by nearly $6 billion from the prior day to land at just under $117 billion.

For Facebook's rivals, it was a good day, however.

The messaging service Telegram went from the 56th most downloaded free ap in the US to the fifth, according to specialist firm SensorTower.

The encrypted messaging app Signal tweeted that "millions" of new users had joined, and added that it was "Signal and ready to mignal."

It was not the only Twitter user to crack jokes over the outage, though others complained about being cut off from contacts, their sources of income or business tools.

Some were philosophical, however -- such as Cindy Bennett, a baker in New York City, who told AFP: "I think the world would probably be a better place if everybody didn't know what everybody else was doing every second of every minute of every day."

- 'Make body dissatisfaction worse' -

Facebook has pushed back hard against the outrage regarding its practices and impact, but this is just the latest crisis to hit the business.

US lawmakers for years have threatened to regulate Facebook and other social media giants to address criticisms that the platforms trample on privacy, provide a megaphone for dangerous misinformation and damage young people's well-being.

After years of criticism directed at social media, without major legislative overhauls, some experts were skeptical that change was coming.

Mark Hass, an Arizona State University professor said: "This is a situation where there's going to be a lot of smoke, and a lot of fury, but not a lot of action."

He added, noting authorities won't effectively be able to regulate content: "It's going to have to come down to the platforms, feeling pressure from their users feeling pressure from their employees."

Haugen, a 37-year-old data scientist from Iowa, has worked for companies including Google and Pinterest -- but said in an interview with CBS news show "60 Minutes" that Facebook was "substantially worse" than anything she had seen before.

Facebook's vice president of policy and global affairs Nick Clegg vehemently pushed back at the assertion its platforms are "toxic" for teens, days after a tense, hours-long congressional hearing in which US lawmakers grilled the company over its impact on the mental health of young users.

Source: yahoonews

Jordanian royal palace: the King owns properties and it is not a secret EU announces development of key commercial crossing between Gaza Strip and Israel

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.