Farage offers Johnson an electoral pact for no-deal Brexit
August 27, 2019, 3:15 pm

Farage offers Johnson an electoral pact for no-deal Brexit

Brexit Party leader Nigel Farage offered British Prime Minister Boris Johnson an electoral pact if he goes for a no-deal EU exit, but warned that if he tried to fudge Brexit then he would face a battle over every seat at the next election.

More than three years since the United Kingdom voted 52-48% to leave the European Union, Brexit remains up in the air: Options range from an acrimonious divorce on Oct. 31 and an election to an amicable exit or even another referendum.

The United Kingdom is heading towards a constitutional crisis at home and a showdown with the EU as Johnson has vowed to leave the bloc without a deal unless it agrees to renegotiate a Brexit divorce.

Farage, who in 2013 piled so much pressure on then Prime Minister David Cameron that he promised an EU referendum, said that unless Johnson went for a no-deal Brexit he would face an electoral challenge in every parliamentary seat.

He said there was more than a 50% chance of an election in the autumn and that if Johnson opted for “a clean break Brexit” then the Brexit Party would work with him so that the Brexit-supporting vote was not split.

“We would put country before party and we would do it every time,” Farage told supporters in London. “We would be prepared in those circumstances to help him, to work with him, perhaps, I don’t know, in the form of a non-aggression pact at the election.”

Farage, who once posed with Donald Trump in a gilded lift, has been cast by enemies as a delirious racist, though supporters credit him with a prescient contribution to the biggest political upset in modern British history - Brexit.

He says Brexit is being betrayed by an out of touch elite who do not understand that if they thwart Britain’s exit then politics will be poisoned for a generation or more.

“CLEAN BREAK BREXIT”

Farage said a clean break on Oct. 31 was the most popular option among voters but he questioned whether Johnson could be trusted on Brexit.

The EU Withdrawal Agreement negotiated between former Prime Minister Theresa May and Brussels last November was, Farage said, the worst deal in history even without the Irish border backstop. He said he suspected Johnson would try to get an amended agreement passed by the British parliament.

“The Withdrawal Agreement is not Brexit, the Withdrawal Agreement is a betrayal of what 17.4 million people voted for, and if you go with the Withdrawal Agreement we will fight you in every single seat up and down the length and breadth of the United Kingdom,” he pledged.In the 2016 referendum, 17.4 million voters, or 52%, backed Brexit while 16.1 million, or 48%, backed staying in the bloc.

Johnson, an avowed Brexiteer, is betting that the threat of a disorderly no-deal exit will convince German Chancellor Angela Merkel and French President Emmanuel Macron to grant him the divorce deal he wants.

That rhetoric appears to have won over voters from the Brexit Party - which has been successful in recent years at poaching Conservative Party voters.

Johnson’s Conservative Party has opened up a 14 percentage point lead over the opposition Labour Party as Johnson’s tougher stance on Brexit wins back supporters, according to a poll last week.

Reuters.

Rouhani: If US does not lift Iran sanctions, status quo will not change Erdogan says Turkey wants to continue defence cooperation with Russia

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.