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Israel's ex-army chief Gantz gets shot at forming government

Israel's ex-military chief Benny Gantz was due to be nominated Monday to try to form a government but talks continued with his bitter rival, Prime Minister Benjamin Netanyahu, on an emergency alliance to combat coronavirus.
Gantz, who heads the centrist Blue and White party, won recommendations on Sunday from a thin majority of lawmakers to form a coalition government after almost a year of political paralysis in Israel.
But his path there is difficult given the deep divisions within the factions that backed him, which include the mainly Arab Joint List and the nationalist Yisrael Beiteinu.
Netanyahu -- Israel's longest-serving premier and the first ever to be indicted in office, on graft charges -- has insisted that voters on March 2 elections gave him a mandate to continue as prime minister.
The vote, Israel's third inconclusive election in less than a year, saw Netanyahu's right-wing Likud secure the most seats.
But, along with its religious party allies, Likud fell three seats short of a majority of 61 seats in the 120-member Knesset, or parliament.
President Reuven Rivlin was due to meet Gantz, 60, later on Monday to officially grant him a maximum of 42 days to try to form a government, a task which proved impossible for any candidate following the two elections last year.
Gantz has an "hollow mandate," political columnist Sima Kadmon wrote in the Yediot Aharonot newspaper, referring to the potentially crippling divisions within the anti-Netanyahu camp.
But Rivlin made clear he wants a government in place "as soon as possible," in part to help Israel beat back the COVID-19 pandemic.
He summoned the two rivals on Sunday for an "urgent conversation", which ended without agreement, but Likud and Blue and White said the talks would continue.
After the meeting, Rivlin emphasised the need to "intensify direct contacts... between the Likud and Kachol Lavan negotiating teams, and welcomed both sides' willingness to do so".
But prospects for the two men coming to terms may be remote, especially as mutual acrimony has ramped up in recent days.
A new Knesset will also be sworn in later Monday in a stripped-down ceremony due to COVID-19.
Writing in the left-wing Haaretz newspaper, Raviv Drucker said the pandemic "could be our political establishment's miracle," forcing a compromise that has proved elusive over the past year of political deadlock.
Israel has 250 confirmed cases of coronavirus with no fatalities but tens of thousands in home-quarantine.
Authorities have banned gatherings of more than 10 people and ordered schools, universities, restaurants and cafes to close, among other measures.
Netanyahu, 70, on Sunday proposed a six-month unity government that he would lead to manage the response to the pandemic.
He also offered a four-year arrangement that would see the two leaders equally split the job of prime minister.
"Gantz doesn't believe a single word Netanyahu says," columnist Nahum Barnea wrote in Yediot Aharonot, arguing against the prospects of an alliance.
But, Barnea added, coronavirus could prove "key to a deal".
Gantz has also previously refused to serve in any government led by someone facing criminal charges, but that was before the coronavirus crisis.
Netanyahu was in January formally charged with bribery, fraud and breach of trust.
He denies wrongdoing.
His trial had been due to open on Tuesday, but Jerusalem's District Court postponed it to May 24, blaming the pandemic.
The prime minister's rivals cried foul, accusing him of using the coronavirus public health crisis to push back his long-anticipated day in court. levant
source: AFP levant
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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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