Japan PM won't attend the opening ceremony of the Winter Olympics in Beijing
December 16, 2021, 9:13 am

Japan PM won't attend the opening ceremony of the Winter Olympics in Beijing

Olympic games/Pixabay

The Guardian reported that Japan’s prime minister, Fumio Kishida, has said he will not attend the opening ceremony of the Winter Olympics in Beijing, but it is not clear if the country will join a US-led diplomatic boycott of the Games over human rights abuses.

As speaking in parliament on Thursday, Kishida said: “I have no plans at this point to attend” and did not clarify if Japan would send any officials to the event, amid reports that it was unlikely to snub the hosts altogether.

The Guarddian mentioned that Kishida has said only that he will make a decision, possibly by the end of the year, based on Japan’s “national interest”, while media reports said ministers and politicians were likely to skip the Games, with Japan opting instead for the “face-saving” option of sending officials connected to Tokyo 2020, including the president of the organising committee, Seiko Hashimoto.

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The Guarddian said that China has accused the US, Britain, Canada and Australia of “political posturing”, and warned them they would “pay a price” after they announced they would not send delegations of officials and politicians to Beijing. Their athletes will compete, however.

It added that countries taking part in the boycott said they were protesting against China’s human rights abuses, including its treatment of Uyghur Muslims in Xinjiang province, the crackdown on democracy and freedoms in Hong Kong and the repression of Tibet.

The boycott has placed Japan, a key US ally in the Asia-Pacific, in a difficult position less than two months before the Games are due to open.

According to The Guardian, Japan has deep economic ties with China – its biggest trading partner – and will not want to appear to snub Beijing ahead of next year’s 50th anniversary of the normalisation of diplomatic relations.

In addition, Chinese officials supported the decision to go ahead with this summer’s Olympics in Tokyo, despite widespread public opposition due to fears over the coronavirus.

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The South Korean president, Moon Jae-in, said this week his country would not join the boycott, describing the Games – which run from 4-20 February – as “positive” for Seoul’s relations with Beijing.

Wang Wenbin, a spokesman for the Chinese foreign ministry, welcomed Moon’s announcement, but warned Japan that “politicising sport is contrary to the spirit of the Olympic charter”.

In a break with other G7 nations, France, which is due to host the 2024 summer Games, has said it will send high-level officials to Beijing.

Source: theguardian

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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.