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First summit of European Political Community kicks off in Prague

The first summit of the European Political Community, a pan-European leaders’ platform to discuss common challenges, kicked off on Thursday (Oct 6) in Prague, the Czech capital, the Anadolu Agency reported.
Belgian Prime Minister Alexander De Croo told reporters on the way to the summit: “Look at the importance (of this meeting), the whole continent is here except two countries, Belarus and Russia."
Heads of state and government from 44 countries – the 27 EU members and 17 other European countries, including Türkiye, the UK, Serbia – participate at the summit hosted by the Czech government that assumes the rotating presidency of the Council of the European Union.
De Croo said the leaders will address the “extremely important topic” of European security at their meeting, with the aim to improve the security environment, prepare for further escalation of the Ukrainian conflict, and handle the energy crisis and inflation.

French President Emmanuel Macron, who proposed in May to set up the European Political Community, called the summit an “important moment” since it brings the “message of European unity” and starts “strategic discussions that have not existed before.”
He expressed hope that the leaders will be able to agree on common projects because “we share the same place, often same history, and commitment to write the same history.”
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For his part, Lithuanian President Gitanas Nauseda called the European Political Community summit a “United Nations in Europe.”
He voiced hope that despite their diversity, the 44 leaders will be able to find a “common position” and set common goals, including support for Ukraine which he considers as “priority number one.”
Dutch Prime Minister Mark Rutte stressed that the European Political Community “is not an alternative to enlargement,” but a “platform, an organization for European leaders to discuss the main issues of the day,” the war in Ukraine, as well as climate protection and the economic situation.
Kosovar President Vjosa Osmani-Sadriu also highlighted that “each and every one of us are on equal footing” at the summit to “bring forward ideas and participate in action when it comes to the common challenges we are facing.”
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During the summit, all leaders participate together at an opening session and closing dinner, and take part in smaller groups in roundtable discussions on various topics, such as security, stability, energy, climate, mobility, and economy.
They also hold bilateral talks on the margins of the event.
EU leaders will continue with an informal summit on the following day to discuss the bloc’s response to the energy crisis and Russia’s war in Ukraine.
Source: aa
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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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