Italy's new prime minister meets with French president
October 24, 2022, 8:09 am

Italy's new prime minister meets with French president

Far-right leader Giorgia Meloni's Brothers of Italy (FdI) party - Anadolu Agency

Italy’s new Prime Minister Giorgia Meloni met Sunday (Oct 23) with French President Emmanuel Macron for the first time.

The informal meeting between Meloni, the country’s first female premier, and Macron was part of his visit to Rome.

The meeting, which lasted for more than an hour, was "sincere and productive," the Italian Prime Ministry said in a statement.

The two leaders discussed the need for a rapid and shared response to high energy costs, support for Ukraine, the difficult economic situation and irregular migration.

They agreed on the willingness to continue to cooperate on common challenges in Europe and in terms of mutual national interests.

French President Emmanuel Macron promised Sunday (Oct 32) to work with Giorgia Meloni with "dialogue and ambition."

Shortly before he tweeted the comment, Macron thanked outgoing premier Mario Draghi in a post featuring a photo of the former European Central Bank chief and the words: "Grazie (thank you) Mario."

On Sunday, Italy’s new government was officially sworn in. Along with Meloni, 24 Cabinet ministers, including six women, took their oaths of office before President Sergio Mattarella in Rome.

Meloni, 45, vowed during the ceremony to serve her country with pride.

Far-right leader Giorgia Meloni becomes Italy's first woman PM

After officially succeeding former Prime Minister Mario Draghi, she is expected to lead the first meeting of her new Cabinet on Sunday afternoon.

Meloni’s far-right Brothers of Italy party won a plurality of the vote in the Sept. 25 general elections, and she formed a right-wing coalition government on Friday.

The new government is the most far-right in Italy since World War II, and takes power at a time of soaring inflation and an energy crisis linked to Russia's invasion of Ukraine.

Italy's Giorgia Meloni tells Ukraine it can count on her

Meloni was forced this week to repeat her unwavering support for Ukraine and Western sanctions against Russia after Berlusconi was recorded defending President Vladimir Putin.

European Commission President Ursula von der Leyen said on Saturday she had a "good first call" with Meloni, saying she looked forward to "constructive cooperation".

Chancellor Olaf Scholz of Germany said he wanted to keep "working closely together with Italy in EU, NATO and G7" – a sentiment Meloni reflected in responses to congratulatory messages on Twitter.

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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.