German Chancellor Justifies Communication with Moscow.. Amid Kyiv's Criticism
Zelenskyy's absence from G20 and Scholz's contact with Putin reveal potential shifts in the diplomatic landscape regarding the Ukrainian crisis
November 17, 2024, 8:08 pm

German Chancellor Justifies Communication with Moscow.. Amid Kyiv's Criticism

شولتس وبوتين \ متداول

German Chancellor Olaf Scholz explained the reasons for his phone call with Russian President Vladimir Putin, on the eve of his participation in the G20 summit in Rio de Janeiro.

Scholz emphasized in press statements before leaving Berlin: "It was important to tell him also that he should not expect Germany, Europe, and many other countries in the world to reduce their support for Ukraine."

The German news agency quoted Scholz confirming that he told Putin "it's now up to him to work on ending the war." The German Chancellor added that the long-planned conversation was detailed, revealing that it showed "the Russian President's views on the war haven't changed much, and this isn't good news."

The German official stressed the necessity of delivering a clear message that "Ukraine can rely on us, and we will continue our approach of not making any decisions that bypass the Ukrainians."

Scholz dismissed the idea of "holding talks between the American and Russian presidents without the participation of an important European state's head of government in the discussions as well."

The newly elected U.S. President Donald Trump had previously pledged during his campaign to quickly end the Ukrainian conflict through negotiations with Russia.

Friday's phone call was initiated by the German Chancellor, marking the first direct communication between the two sides since December 2022. During the call, Scholz renewed demands for Moscow to withdraw its forces from Ukraine and engage in peace negotiations.

Putin insisted on addressing what he considered the causes of the conflict, recognizing regional changes, and considering Russian security interests. The call faced opposition from several figures, including Ukrainian President Volodymyr Zelenskyy, who compared it to opening "Pandora's box."

Scholz plans to spend three days in Rio participating in G20 discussions on poverty reduction, climate protection, and conflicts in Ukraine and the Middle East.

He expressed disappointment about Zelenskyy not being invited, unlike previous meetings, explaining: "I made intensive efforts for that, as did others, but it didn't happen."

It's worth noting that Ukraine is not a G20 member, and host Brazil did not extend an invitation to Zelenskyy to attend the summit as a guest.

Levant-Agencies

Airstrike on Ras al-Nabaa Claims Life of Hezbollah Media Official Expectations of Full-Scale Battle After Iranian-Syrian Meetings

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.