Mark Zuckerberg apologises for the 'disruption' of social media services
October 5, 2021, 11:23 am

Mark Zuckerberg

The BBC reported, Facebook's founder Mark Zuckerberg has apologised for the "disruption" caused after its social media services went down for almost six hours - impacting more than 3.5bn users worldwide.

According to the BBC, the billionaire said sorry after an internal technical issue took Facebook, Messenger, Whatsapp and Instagram offline at about 16:00 GMT on Monday.

It mentioned, the scramble to bring it back online eventually succeeded at around 22:00.

But it is likely to increase scrutiny of the social media giant's reach.

The BBC said that for hours, potentially billions of people found themselves without the social media tools they relied upon to keep in touch with friends and family. Others reportedly found they could not access services which required a Facebook login.

Meanwhile, small businesses around the world, which use social media to connect with customers, were faced with the prospect of an unexpected financial hit.

Mr Zuckerberg himself was thought to have lost an estimated $6bn (£4.4bn) from his personal fortune at one point as Facebook shares plummeted, according to the business website Fortune's tracking software.

Downdetector, which tracks outages, said some 10.6 million problems were reported around the world - the largest number it had ever recorded.

Facebook later said it had been brought offline by a faulty configuration change which not only impacted the websites and apps, but also affected the company's internal tools.

Those tools included Facebook's internal email and even employee work passes.

Some reports suggest that Facebook headquarters was in "meltdown". Even "the people trying to figure out what this problem was" couldn't access the building, New York Times technology reporter Sheera Frenkel told the BBC.

The New York Times reports that the problem was eventually resolved after a group managed to get into a California data centre and reset the servers. The company has not confirmed this.

Facebook has said it is working to understand what happened so it can "make our infrastructure more resilient". Tech experts have described the issue as being akin to the social media giant falling off the internet's map, so it could not be found.

The company said there was "no evidence that user data was compromised".

The outage comes at a particularly difficult time for the company, which is finding itself increasingly under pressure over its reach and impact on society.

On Sunday, former Facebook employee Frances Haugen told CBS news the company had prioritised "growth over safety".

On Tuesday she will testify before a Senate subcommittee in a hearing titled "Protecting Kids Online", about the company's research into Instagram's effect on the mental health of young users.

Source: BBC

Drug treatment to be released in England for people with sickle cell disease Flooding hits parts of London after heavy rain overnight

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.