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The Rise of Coronavirus Conspiracy

It is perhaps unfortunate that the world happens to be hit by a deadly global pandemic at what is potentially the high-water mark of populist nationalist leaders. The approach to the truth adopted by leaders such as Presidents Trump, Putin and Bolsonaro is extremely flexible to say the least. Stalin once said that “a single death is a tragedy; a million deaths is a statistic”, perhaps many of the world’s modern leaders see the same equation being applied to what is truth. In the past a single lie could potentially end a political career, today, according to the Washington Post, Trump has over the course of 1,170 days made 18,000 false or misleading claims and he may be re-elected in 2021.
Such an avalanche of false claims from the bully pulpit of what is considered the single most powerful position on the planet, has a reverberatory effect that steadily defines the politics of the age. So much so that even before COVID-19 arrived on our doorstep we were talking about living in a ‘post-truth’ world. The American politician Daniel Patrick Moynihan famously said that “you are entitled to your opinion. But you are not entitled to your own facts.” Today the ‘post-truth’ world supported by an infrastructure of social media that allows an almost infinite number of virtual communities to form, has produced the ultimate breeding ground for the conspiracy theory.
I say ‘the’ conspiracy theory as despite there being huge variety of manifestations of conspiracy, from the faking of the moon landings to the presence of aliens at Roswell, they all tend to originate from the same starting point; a fundamental distrust in institutions, the media and reporting of a world not seen by the individual concerned. This is a powerful confluence of ideology, technology and society and its consequences can be seen in some of the responses to the current COVID-19 crisis.
The traditional conspiracy has at its core a potentially realistic narrative. One of the earliest ones to emerge on the COVID era was that the virus was not passed from animals to humans in a wet market in the Chinese city of Wuhan, rather it was a biological weapon that was either accidentally or purposefully released from a laboratory in the city. Putting aside the questions as to why the Chinese authorities would allow or want the virus to escape, the fact that the Wuhan Institute of Virology was based there means it is a simple conspiracy to explain. Indeed much like the virus itself, the notion of the it being a manufactured disease has been hugely reported and is something that President Trump and his cabinet regularly hint too, despite Anthony Fauci, the director of the US National Institute of Allergy and Infectious Diseases, telling National Geographic magazine that the evidence is “very, very strongly leaning toward this could not have been artificially or deliberately manipulated”.
Online reporting of rumours, stoked by populist leaders who see the geopolitical benefits, are a powerful force. Trump would rather people blamed China for the lose of jobs, loved ones or livelihoods than blame him. One conspiracy fuel another and one of the most iconic of the current crisis has been that China are using 5G phone masts to produce huge amounts of radiation that create and spread the virus. On social media these theories are shared, and rumour is reported as fact that can metastasise into real world impact; indeed, people have been attacking and burning down 5G masts in response.
However, the more subtle conspiracies are arguably more insidious and dangerous. The complexity around how and who Coronavirus kills people has led to the conspiracy theory that the US’s COVID-19 death toll is being inflated by unrelated medical conditions. Again, the political purpose of the theory is to defend a political project and in this case President Trump, but it starts with something that could be true, the manipulation of statistics, and takes it to an extreme conclusion.
Fundamentally where conspiracy theory causes the most damage is to the DNA to a nation’s collective identity. As hugely divergent consensus as to what is true continue to spread then a common struggle, such as defeating a virus, can be torn apart. One commentator joked that soon they’d need to be weather forecasts for Republicans and one for Democrats as the two political projects increasingly distrust entirely anything that is not explicitly ‘their’ truth. History will tell how much conspiracy has undermined the US response to the crisis but with individual states already taking drastically different approaches to public health and the economy, conclusive evidence may be not too long in coming
by : jamse danselow
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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