UAE intercepts ballistic missile launched by Houthi militia
January 31, 2022, 8:11 am

UAE intercepts ballistic missile launched by Houthi militia

Flag of UAE/Pixabay

The Arab News reported, citing the Associated Press and Reuters, the United Arab Emirates on Monday said it has intercepted a ballistic missile launched by Yemen's Houthi militia amid a visit by Israel’s President Isaac Herzog.

The UAE Ministry of Defense said in a statement carried by WAM news agency, the attack did not result in any losses as the destroyed missile fell outside populated areas.

The statement said that the UAE air forces, together with the Coalition to Restore Legitimacy in Yemen, subsequently destroyed the missile launch site in Yemen's Al-Jawf governorate.

The UAE defense ministry affirmed its "full readiness to deal with any threats," adding that it will "take all necessary measures to protect the UAE from any attacks."

The UAE General Civil Aviation Authority on Monday assured the public that the latest Houthi atrocity has not affected air traffic in the region's busiest air corridor.

The authority said: "The air traffic in the country is going as usual, and operations of all flights are running normally. There is no impact on flights and airports as a result of the ballistic missile launched by the terrorist Houthi militia."

The Houthi attack came hours after Israel’s President Herzog arrived in Abu Dhabi to seek stronger regional ties.

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The UAE, along with Bahrain, signed US-brokered normalization agreements with Israel, dubbed the “Abraham Accords,” in 2020. The two Gulf states and Israel share concerns about Iran and its allied forces in the region.

Herzog discussed security and bilateral relations with the UAE’s de facto ruler, Prince Sheikh Mohammed bin Zayed Al Nahyan, in Abu Dhabi.

His office said that Herzog spent the night in Abu Dhabi, and he will continue his UAE visit despite the Houthi attack. He was scheduled to visit Dubai’s Expo 2020 world’s fair Monday.

Liz Truss: UK stands with UAE following fatal Houthi attack

Israeli Prime Minister Naftali Bennett in December made his first official visit to the UAE and discussed strengthening relations on a number of fronts with Sheikh Mohammed.

The missile attack happened just after a Houthi military spokesman Yehia Sarei boasted on Twitter that the terror group would disclose within hours details of a new military operation deep inside the UAE.

On January 17, a drone-and-missile attack by the Iran-backed terror militia hit an Abu Dhabi National Oil Co. fuel depot, killing three people and wounding six others. A second missile assault on Monday was foiled.

UAE air defenses shoot down two Houthi missiles, no injuries reported

The missile attacks targeting the UAE come as the Houthis face pressure and are suffering heavy losses on the battlefield. Aided by the Emirati-backed Giants Brigades, Yemeni government forces took back the province of Shabwa earlier this month in a blow to Houthi efforts to complete their control of the entire northern half of Yemen.

While Emirati troops have been killed over the course of the conflict, until this month the war hadn't directly affected daily life in the wider UAE, a country with a vast foreign workforce

Source: arabnews

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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.