Johnson faces first electoral test in vote for Welsh parliamentary seat
August 1, 2019, 3:55 pm

Johnson faces first electoral test in vote for Welsh parliamentary seat

Britain's Prime Minister Boris Johnson speaks during the first meeting of the National Policing Board at the Home Office in London, Britain

The pro-European Union Liberal Democrats are the bookmakers’ favourites to win the vote in Brecon and Radnorshire, triggered when Conservative lawmaker Chris Davies was ousted by a petition of constituents after being convicted of falsifying expenses.

Brecon is a region where sheep outnumber people many times over and where the prospect of steep EU tariffs being slapped on its Welsh lamb exports in a no-deal Brexit have prompted widespread concern among farmers.

Johnson’s government already relies on the support of a small Northern Irish party for its wafer-thin majority, with just a handful of rebels in his own Conservatives needed to lose key votes - as his predecessor Theresa May repeatedly found.

May stepped down after her Brexit deal with the EU was rejected three times by parliament.

Johnson has said he plans to renegotiate that deal but that Britain will leave the bloc on Oct. 31 with or without an agreement, potentially setting himself up for a fight with parliament, which has pledged to try to block a no-deal exit.

The Liberal Democrats held the seat of Brecon from 1997 until 2015 when it was won by Davies. In the 2017 snap election he held the seat with a majority of just over 8,000 votes and is running again for the Conservatives on Thursday.

Wales, and the Brecon area, voted to leave the EU at the 2016 Brexit referendum but the pro-Brexit vote is likely to be split between the Conservatives and the Brexit Party, which won the United Kingdom’s European Parliament election in May by riding a wave of anger over the failure to deliver Brexit.

In contrast, in a bid to boost the Liberal Democrats’ chances by concentrating the support of ‘Remain’ voters, other pro-EU parties including the Greens and Plaid Cymru are not standing in the election.

Liberal Democrat candidate Jane Dodds has also sought to focus her campaign on local issues.

“I believe we deserve better from our politicians and the Westminster government. I’ll be a strong voice for everyone who feels let down by those in power,” Dodds, who is also the Liberal Democrats’ leader in Wales, said on her website.

The Conservatives, who have seen their national poll ratings jump since Johnson took over in what has been dubbed a Boris bounce, will be hoping for a last-minute boost from their new leader, who visited the area on Tuesday.

But the National Farmers’ Union (NFU) in Wales has warned Johnson of the potential consequences for lamb producers of leaving the EU without a deal.

“The prime minister must prioritise the protection of this core market through securing continued, unfettered access,” its president John Davies said. “The EU is our nearest and largest export market and any interruption to this trade will have catastrophic impacts for Welsh farming.”

The result is expected in the early hours of Friday morning.

Reuters.

Britain to spend an extra £2.1 billion on no-deal Brexit planning Iran says U.S. sanctioning of top diplomat 'childish' as tensions rise

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.