Netanyahu election lead less than thought, could be another election
March 4, 2020, 11:03 am

Netanyahu election lead less than thought, could be another election

Benny Gantz and Benjamin Netanyahu. (AFP)

Israel appeared headed into another political stalemate on Wednesday after nearly-complete results indicated Prime Minister Benjamin Netanyahu had failed to secure a clear majority for a right-wing bloc in parliament, despite his claim of victory.

With 99 percent of votes counted, Netanyahu’s conservative Likud party was seen taking 35 of parliament’s 120 seats, down from 36 intially projected after Monday’s election. His centrist challenger, Benny Gantz, was seen holding steady at 32 seats for his Blue and White party.

Israeli premiers generally need a coalition commanding 61 seats for their governments to survive. Wednesday’s tally suggested that, with like-minded parties, a Netanyahu coalition

could now expect to garner only 58.

The four-term leader has been hamstrung by corruption cases in which he denies wrongdoing. Gantz has cited Netanyahu’s unprecedented indictment in refusing to join him in a coalition.

Yet Gantz, a former general who leads the centrist Blue and White party, seemed no closer to clinching a coalition, given ideological differences in a camp of Netanyahu-naysayers which includes ultranationalist ex-defence minister Avigdor Lieberman and Arab-Israeli parties.

That could spell further deadlock and another snap election to follow Monday’s vote, which was Israel’s third in a year.

Netanyahu had claimed victory on Tuesday. Some Israeli commentators ridiculed that, on Wednesday, as “fake news.”

“Most of Israel’s citizens said unequivocally: Just not Bibi,” tweeted Attila Somfalvi, anchor for Ynet TV, using Netanyahu’s nickname. “That raises the danger that Netanyahu will again try to drag the countries to elections.”

Netanyahu has faced calls, including from within Likud, to step aside so he can defend himself in a corruption trial that begins on March 17. He refuses, and is under no legal obligation to go.

Israeli media said Blue and White might table legislation that would bar a prime minister under indictment from forming the next government. Asked about the reports, a Blue and White spokeswoman said: “All options are currently on the table.”

The Joint List, a party representing Israel’s 21 percent Arab minority and which surged in Monday’s election with a projected 15 seats, said it was cooperating with Blue and White - an apparent confirmation that the disqualification initiative was under way.

Defence Minister Naftali Bennett, one of Netanyahu’s religious-nationalist coalition partners, described the reported initiative as “a radical, anti-democratic move.”

“The right absolutely opposes this move and we will fight it with all our might,” Bennett said on Twitter.

source: Reuters

Iran says ‘no obligation’ to allow UN nuclear watchdog access to some sites Iran coronavirus death toll rises to 92, with 586 new cases: Health ministry

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.