James Denseiow

Whilst the US President may not think that the election is settled, the rest of the world continue to dissect what the election of the 3rd of November tells us about American politics. The broad-brush strokes of what has emerged as now almost settled, barring a significant upset in Georgia America will have a split Government with a Democratic President, a Republican Senate and Democratic Congress.

Already the narrative of American divisions has been accelerated by record turnouts for both the Biden and the Trump vote. Those close to Biden are frequently asked what plans he has to ‘heal’ American divides. I would argue that a democratic system that can peacefully process the demands and identities of a nation of some 328 million people through the prism of two major parties is a pretty good template. What is more concerning however, is that the identities of the two major tribes of America’s body politic are being increasingly defined by their marginal and extremist elements.

While political ‘centrism’ is supposedly dead we surely must recognise that a world that understands Americans as either attendees of Trump’s rallies or mask wearing members of Antifa is simple false and a incorrect minority report as to the health of the nation.

There is arguably no better time to be a fringe player in this political psychodrama. The rise and rise of political social media could mean that an individual composing conspiracy theory on twitter from the safety of his own home, could suddenly be retweeted by Trump himself to some 80 million followers. Likewise, events like the march for Trump over the weekend see coverage focused on the handful of clashes at the fringes of a fringe event. It is almost as if algorithms of modern news reporting are fuelling a story of deepening difference and irreconcilable political identities.

This is made significantly worse by the culture around attack ads that dominates the media and social media airwaves. The Democratic party is licking its wounds after losing Congress seats and already a debate is raging as to whether they lost votes due to their association with the radical policy position around defunding the police.

Yet this was never Democratic party policy, but instead almost a by-product of Republican attacks looking to tie more progressive members of the Democratic party to the most extreme ideas of the political spectrum. In short it is political strategy for many to paint a picture of such stark divisions and demand that voters take a side.

It is continually fascinating that voters could have turned out in such high numbers for President Trump despite his cack-handed response to a pandemic that has killed close to a quarter of a million Americans. Yet the analysis of issues that Trump voters responded to - particularly law and order and the economy – were almost more existential terrifying than the virus itself.

Whilst headlines and social media clicks are dominated by those on the far left and the far right how can more centralist and representative voices cut through? Well President Biden may be about to demonstrate one answer to that conundrum. His digital footprint is radically different from his predecessor. Gone are the days where the world will hold its breath waking from Trump to wake up and tweet a 360 reversal of a previous US policy position.

Biden is a self-styled consensus politician who ran as a ‘proud Democrat’ but promised to Govern on behalf of all Americans. The trust he will need to establish for those worried that he is going to immediately lockdown the country, shut down the fossil fuel industry and defund the police is going to be aided by the fact that those things were never genuine fears in the first place.

Meanwhile news networks, and more importantly social media networks, will have to get a lot better at not being driven by covering the most extreme actors. The Steve Bannons of this world have already been kicked off Twitter for and you can almost speculate as to whether we will see Trump kicked off the platform once he loses his privileges as President. The Biden-era may be the majority report overtake that of the minority.

by : jamse danselow

Syria’s Battle for History The Coronavirus Vaccine Moment

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.