Tokyo Olympics head reiterates games will not be canceled
April 16, 2021, 9:55 am

Tokyo Olympics head reiterates games will not be canceled

A woman wearing a protective face mask, following the outbreak of the coronavirus, rides her bicycle past The Olympic rings in front of the Japan Olympics Museum in Tokyo, Japan, March 3, 2020. (File photo: Reuters)

The head of the Tokyo Olympics on Friday was again forced to assure the world that the postponed games will open in just over three months and not be canceled despite surging COVID-19 cases in Japan.

Organizing committee President Seiko Hashimoto was asked at a news conference if there were any conditions under which the Olympics would be canceled.

The questions come as the general secretary of ruling LDP political party and the No. 2 in charge, Toshihiro Nikai, raised the possibility the day before.

“There are a variety of concerns but as the Tokyo 2020 organizing committee we are not thinking about canceling the games,” Hashimoto said.

Nikai was asked on Thursday in an interview if cancellation was still an option.

“Of course,” he replied, adding that if the Olympics caused a surge in infections “there would be no meaning to having the Olympics.”

Nikai tried to backtrack later, and Japanese Prime Minister Yoshihide Suga issued a statement Thursday saying there is “no change to the government position to do everything to achieve safe and secure Olympics.”

Hashimoto acknowledged Nikai’s concern and suggested it was probably shared by the Japanese public. Polls show as many as 80 percent in Japan oppose holding the Olympics during the pandemic.

“The fact that he (Nikai) is concerned is a point that we need to take seriously as Tokyo 2020,” she said. “His comment has reminded us of how tedious it was for us to feel confident or be fully prepared for delivering the games.”

COVID-19 cases have been rising across Japan. Despite this, the International Olympic Committee and Tokyo organizers are pressing on. The IOC has seen its income stalled by the postponement, and Japan has already invested about least $15 billion to organize these Olympics.

On Thursday, Japan’s second-largest metropolitan area of Osaka recorded 1,208 new cases. It was the third straight day that new cases surpassed 1,000. Tokyo hit 729, its highest total in more than two months.

Japan has attributed 9,500 death to COVID-19, good by world standards but poor by results in Asia. Vaccine rollout in Japan has also been very slow with fewer than 1 percent having received the vaccine.

The national government on Friday was set to add four more prefectures to those already under a “quasi-state of emergency.” This bring the total to 10 and now includes Tokyo neighbors Kanagawa, Chiba, and Saitama.

source: The Associated Press

Image source: Reuters

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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.