South Korea sees deadliest day of COVID-19 deaths as Omicron looms
December 23, 2021, 9:30 am

South Korea sees deadliest day of COVID-19 deaths as Omicron looms

South Korea-Seoul/Pixabay

The Channel News Asia reported as per media outlets, South Korea set a new record for COVID-19 deaths on Thursday (Dec 23) as officials warned that the highly transmissible Omicron variant could soon become the dominant strain.

In recent weeks, South Korea has been grappling with soaring infections and deaths after it significantly relaxed restrictions in early November as part of efforts to return to pre-pandemic normalcy.

The Korea Disease Control and Prevention Agency said a record 109 people died in the last 24 hour period, raising the country’s total number of pandemic fatalities to 5,015. It said the number of patients in serious or critical conditions also hit a fresh high of 1,083.

Laboratory-COVID-19 vaccine test/Pixabay

The agency said that additional 6,919 people have tested positive for the coronavirus, bringing the national caseload to 589,978. It said authorities have also confirmed 12 more cases of the omicron variant, pushing the total to 246.

The delta variant is currently accounting for a vast majority of the newly reported cases in South Korea, but that could change soon.

Senior health official Lee Sang-won said earlier this week that it's possible the Omicron variant would become the dominant strain in South Korea within one or two months. Jaehun Jung, a professor at Gachon University College of Medicine in South Korea, also said that “a meaningful (level) of infections caused by Omicron could occur in our country in February or March.”

Alarmed by record-breaking surges of new infections and deaths, South Korea on Saturday restored its toughest distancing rules, such as a four-person cap on private gatherings and a 9 pm curfew on restaurants and cafes.

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According to the Channel News Asia, the surge has threatened to overwhelm hospitals and was straining the country’s health care.

Health Minister Kwon Deok-cheol said Wednesday that South Korea is at “a critical juncture” as the danger of its medical system reaching limits grows.

He said breakthrough infections and transmissions among unvaccinated people are responsible for a rising number of critically ill patients, which he said is much higher than the government had earlier expected when it eased distancing curbs at the start of November.

According to government data, 36 people have died at home or facilities while waiting for beds between Nov 28 and Dec 18. Other data show that as of Wednesday, about 80 per cent of beds at intensive care units for COVID-19 patients in South Korea were occupied.

Kwon said the government plans to secure thousands of new beds and establish a capacity to deal with 10,000 new cases.

Source: cna

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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.