More than 5,000 people evacuated as volcano erupts on Spain's La Palma island
September 20, 2021, 3:28 am

More than 5,000 people evacuated as volcano erupts on Spain's La Palma island

Volcano on the La Palma island of Spain's Canary Islands-Facebook

The Xinhua reported, between 5,000 and 10,000 people are being evacuated after a volcano began erupting on the La Palma island of Spain's Canary Islands on Sunday afternoon.

The Xinhua said, regional authorities confirmed that the evacuations have begun in the wake of the eruption, which began at 3:12 p.m. local time on the Cumbre Viejo volcano.

It mentioned, the eruption came after a week in which over 20,000 earthquakes were measured on the La Palma island, the second youngest of the Canary Islands.

A quake of around 4 points on the Richter Scale announced the start of the eruption, with TV images capturing lava, smoke and ash being expelled from five fissures on the hillside, although by 10 p.m. lava was escaping from seven different apertures.

Although no casualties have been reported, several properties as well as woodland and pasture have been destroyed by the lava flow which is advancing towards the sea on the southwest coast of the island.

According to the Xinhua, on Sunday evening, authorities began evacuating an estimated 5,000 people from the municipalities of El Paso, Tazacorte and Los Llanos de Aridane, in accordance with plans set up in the framework of the Canary Island Volcano Emergency Plan.

Around 40 people with reduced mobility had previously been evacuated and farm animals have also been moved from the area, while schools in the area will be closed on Monday and the lava flow has cut the AP 212 road and affected another four, which have been closed to traffic.

Meanwhile, residents have been advised to remain indoors, to close doors and windows to take care washing fruit and vegetables to avoid being affected by volcanic ash.

Twelve units from the Tenerife fire brigade have travelled by ferry to the island to assist, while the Canary Islands government has requested the help of the Spanish Military Emergency Unit (UME).

Spanish Prime Minister Pedro Sanchez arrived on the island at around 9 p.m. after cancelling a planned trip to the United States where he was going to attend the General Assembly of the United Nations.

La Palma has a surface area of just over 700 square kilometers and a population of almost 85,000 people. It has experienced seven recorded eruptions since records began. The last two eruptions took place respectively in 1949 and 1971, with the last of those lasting for 10 days.

Experts have predicted that the new eruption will continue for several days, but could last for weeks.

Source: xinhua

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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.