Putin's party wins election but loses some ground
September 20, 2021, 4:26 am

Putin's party wins election but loses some ground

Mr putin-

The Devdiscourse reported according to Reuters, partial results on Monday showed that Russia's ruling United Russia party, which supports President Vladimir Putin, retained its parliamentary majority after an election and a sweeping crackdown on its critics, despite losing over a tenth of its support.

With nearly 74% of ballots counted, the Central Election Commission said United Russia had won nearly 49% of the vote, with its nearest rival, the Communist Party, at about 20%. Although that amounts to an emphatic win, it looks like a somewhat weaker performance for United Russia than the last time a parliamentary election was held in 2016, when the party won just over 54% of the vote.

A malaise over years of faltering living standards and allegations of corruption from jailed Kremlin critic Alexei Navalny has drained some support, compounded by a tactical voting campaign organized by Navalny's allies. Kremlin critics, who alleged large-scale vote-rigging, said the election was, in any case, a sham.

United Russia would have fared worse in a fair contest, given a pre-election crackdown that outlawed Navalny's movement, barred his allies from running, and targeted critical media and non-governmental organizations, they said. Electoral authorities said they had voided any results at voting stations where there had been obvious irregularities and that the overall contest had been fair.

The outcome looks unlikely to change the political landscape, with Putin, who has been in power as president or prime minister since 1999, still dominating ahead of the next presidential election in 2024. Putin has yet to say whether he will run. He was due to speak on Monday. The 68-year-old leader remains a popular figure with many Russians who credit him with standing up to the West and restoring national pride.

The partial results showed the Communist Party finishing in second, followed by the nationalist LDPR party with about 8% and the Fair Russia party with about 7%. All three parties usually back the Kremlin on most key issues. A new party called "New People", appeared to have squeezed into parliament with just over 5%.

At a celebratory rally at United Russia's headquarters broadcast on state television, Moscow Mayor Sergei Sobyanin, a close ally of the Russian leader, shouted: "Putin! Putin! Putin!" to a flag-waving crowd that echoed his chant. Allies of Navalny, who is serving a jail sentence for parole violations he denies, had encouraged tactical voting against United Russia, a scheme that amounted to supporting the candidate most likely to defeat it in a given electoral district.

In many cases, they had advised people to hold their noses and vote Communist. Authorities had tried to block the initiative online. The Central Election Commission was slow to release data from online voting in Moscow, where United Russia traditionally does not fare as well as in other regions amid signs it may have lost some seats in the capital.

Golos, an election watchdog accused of being a foreign agent by authorities, recorded thousands of violations, including threats against observers and ballot stuffing, blatant examples of which circulated on social media, with some individuals caught on camera depositing bundles of votes in urns. The Central Election Commission said it had recorded 12 cases of ballot stuffing in eight regions and that the results from those polling stations would be voided.

DOMINANCE

United Russia held nearly three-quarters of the outgoing State Duma's 450 seats. That dominance helped the Kremlin pass constitutional changes last year that allow Putin to run for two more terms as president after 2024, potentially staying in power until 2036.

Navalny's allies were barred from running in the election after his movement was banned in June as extremist. Other opposition figures allege they were targeted with dirty tricks campaigns. The Kremlin denies a politically-driven crackdown and says individuals are prosecuted for breaking the law. Both it and United Russia denied any role in the registration process for candidates.

"One day we will live in a Russia where it will be possible to vote for good candidates with different political platforms," Navalny ally Leonid Volkov wrote on Telegram messenger before polls closed on Sunday. One Moscow pensioner who gave his name only as Anatoly said he voted United Russia because he was proud of Putin's efforts to restore what he sees as Russia's rightful great-power status.

"Countries like the United States and Britain more or less respect us now like they respected the Soviet Union in the 1960s and 70s. ... The Anglo-Saxons only understand the language of force," he said. There were signs of widespread apathy.

"I don't see the point in voting," said one Moscow hairdresser who gave her name as Irina. "It's all been decided for us anyway."

Source: devdiscourse

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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.