Trump says US coronavirus spread 'not inevitable,' mulls new travel bans
February 27, 2020, 12:36 pm

Trump says US coronavirus spread 'not inevitable,' mulls new travel bans File photo AFP

President Donald Trump on Wednesday said it was not inevitable that the novel coronavirus would continue to spread in the United States, as he said he is considering travel restrictions on Italy and South Korea and appointed his vice president to lead the response.

His optimism about containing the pathogen contradicted a senior health official in his own administration and came as authorities said they had identified the first case in the US that was of unknown origin.

"I don't think it's inevitable. I think that there's a chance that it could get worse, a chance it could get fairly substantially worse, but nothing's inevitable," Trump told reporters at the White House.

The Centers for Disease Control and Prevention urged Americans Tuesday to be prepared to cancel mass gatherings and urged schools and businesses to develop teleworking plans, amid dire warnings that countries are not ready to contain an outbreak that has infected 80,000 people, mostly in China.

"It's not so much a question of if this will happen anymore, but rather more a question of exactly when this will happen," said the CDC's Nancy Messonnier.

As of Wednesday, there were 60 cases in the United States -- 15 detected through the public health system, and 45 repatriated from abroad, either from a cruise ship off Japan or from Wuhan, the Chinese city where the first cases were identified.

The CDC later said the latest case caught in California "did not have relevant travel history or exposure to another known patient" -- meaning it could represent the first instance of "community spread" in the US, though this was not yet confirmed.

Community spread means spread of an illness for which the source of the infection is unknown.

- More travel restrictions? -

Foreign nationals traveling from China within the past two weeks are currently banned from entering the US, and Trump said more countries, including South Korea and Italy where the disease has rapidly spread, could also be added to the list.

"At the right time we may do it, right now it's not the right time," he said in response to a reporter's question.

"Italy is, you know, a deeper problem, and we're checking people coming in very, very strongly from those and at some point we may cut that off," he later added.

On Wednesday night the State Department raised its travel advisory caution level for South Korea to the second-highest, now urging Americans to reconsider traveling there.

The president added that Vice President Mike Pence had been assigned to lead the charge in coordinating the government's response and reporting back to him, taking over the role from health secretary Alex Azar.

- Extra funding -

Trump's briefing came after US lawmakers accused the administration of downplaying the crisis and underfunding the response.

On Monday, the White House asked Congress to make at least $2.5 billion available for preparedness and response, including developing treatments and vaccines and buying equipment for a strategic national stockpile.

Senate Democratic leader Chuck Schumer said the figure was "too little and too late," proposing instead $8.5 billion. Trump later told reporters he would be happy to accept more money.

Trump also took to Twitter earlier in the day to insist his administration is "doing a GREAT job," blaming the media Wednesday for trying to stoke fear in a tweet in which he spelled the name of the virus incorrectly.

"Low Ratings Fake News MSDNC (Comcast) & @CNN are doing everything possible to make the Caronavirus look as bad as possible, including panicking markets, if possible," he tweeted, using a derogatory name for cable news network MSNBC that suggests it is connected to the Democratic National Committee

Wall Street stocks finished mostly lower Wednesday, stabilizing somewhat after a two-session rout amid growing worries over the economic impact of the coronavirus epidemic.

With cases being reported in more countries -- and lockdowns in nations including Austria, Italy and Spain -- traders are worried about the impact on the global economy.

In the US, officials have voiced fears for the supply of medical products because a high proportion of ingredients used to make medicine comes from China.

The Food and Drug Administration has also identified personal protective equipment, such as face masks, respirators and gowns, as being among products at risk of shortages.

source:AFP

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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.