Russian withdrawal from Kherson to take at least a week
November 11, 2022, 7:53 am

Russian withdrawal from Kherson to take at least a week

Kherson oblast - Russian tanks Photo posted by Ukr.net via Euromaidan Press

Ukraine's defence minister said on Thursday (Nov 10) it would take Russia at least a week to withdraw its troops from the southern city of Kherson and that winter would slow down operations on the battlefield, giving both sides a chance to recuperate.

In an interview in Kyiv, Oleksii Reznikov told Reuters Russia had a contingent of 40,000 troops in Kherson region and that intelligence showed its forces remained in the city, around the city and on the right bank of the vast Dnipro River.

"It's not that easy to withdraw these troops from Kherson in one day or two days. As a minimum, (it will take) one week," he said.

The leader of the Russian constituent republic of Chechnya, Ramzan Kadyrov, considers the Russian troop withdrawal from the southern Ukrainian city of Kherson and the entire right bank of the Dnipro River to be the correct decision.

Kadyrov wrote on his Telegram channel on Thursday (Nov 11), the new commander of Russian troops in Ukraine, Sergey Surovikin, has thus saved thousands of soldiers from de facto encirclement.

Ukrainian firefighters evade bombs, tanks and gunfire, they respond immediately to calls for help from their fellow citizens, rushing to extinguish fires caused by enemy shelling, digging and rescuing civilians from the debris, and saving animals lost and abandoned in charred buildings - Euromaidan Press

Kherson, he said, is a difficult area where it is not possible to have a stable and regular supply of ammunition and form a strong rearguard.

"Why wasn't this done in the first days of the special operation?" he complained.

Russia said on Wednesday (Nov 9) that its forces would retreat from the west bank of the Dnipro River, which includes Kherson, the only regional capital Moscow had captured since invading Ukraine in February.

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Reznikov said that such an exit would free up forces from both sides to fight elsewhere. Ukraine, he said, had a security and defence force of 1 million personnel to guard a "non-friendly" 2,500-km border with Belarus, Russia and occupied Ukrainian areas.

He dismissed as "crazy" the idea that Russia might blow up the Kakhovka dam as it withdraws, saying it would flood areas controlled by Moscow.

Kherson civilian departures ‘completed’: Moscow-installed official

"If you check the landscape in this district, you will find that the western bank is higher terrain and the east bank is lower terrain," he said.

"This means the water will flow east of this bank and they will have a risk for their troops," he said.

Both sides in the conflict have accused the other of planning to destroy the dam.

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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.