UK Defence Secretary: it is not too late for Putin to end his invasion
March 3, 2022, 5:45 pm

UK Defence Secretary: it is not too late for Putin to end his invasion

Three children are among nine people who were killed when Russian forces shelled parts of Ukraine's second largest city - with footage showing a series of explosions outside an apartment building (File photo: Euromaidan Press)

The BBC reported, UK Defence Secretary Ben Wallace has said that it is not too late for Vladimir Putin to end his invasion of Ukraine.

Speaking at a news conference, Mr Wallace said Mr Putin was risking his nation being isolated for decades to come if he did not withdraw troops.

He also said thermobaric weapons had been deployed, and he worried how far Russia would go in the future.

At a news conference in the Estonia capital, Tallinn, following a meeting with Nato allies, Mr Wallace said: "The consequences of what we are seeing in Ukraine will ripple through Europe and Nato for not just weeks, but months and years to come."

He said it was unknown what kind of weapons Mr Putin was willing to use, but added that "massive amounts" of artillery had been deployed to Ukraine, as well as controversial thermobaric weapons.

Robert Ben Lobban Wallace is a British Conservative Party politician currently serving as Secretary of State for Defence since 24 July 2019 and Member of Parliament for Wyre and Preston North, formerly Lancaster and Wyre, since 2005 (File photo: Facebook page)

These weapons - also known as "vacuum bombs" - are much more devastating than conventional explosives of a similar size - they create a massive blast wave and a vacuum that sucks up all surrounding oxygen, killing or injuring people in its path.

Mr Wallace said there was concern about how far the Russian military would go with weapons in the future - and it would be difficult for the international community to engage with Mr Putin in the long-term after his attack on a sovereign country "at huge scale, inflicting huge damage and violence".

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He added that the idea of a "normal relationship" with the Russian government would be almost impossible "unless President Putin chooses to cease what he is doing now."

The defence secretary says Russia's invasion of Ukraine has sparked a united response in Europe that President Putin failed to predict.

You can certainly see and feel it in the capital of Estonia. Public buildings and squares in Tallinn have been lit up with the colours of the Ukrainian flag. Officials wear gold ribbons in a show of solidarity. But it's much more than that. Estonia and Denmark, the two countries Mr Wallace is visiting, are both supplying weapons to Ukraine.

The UK has done the same and says it is helping to "facilitate" those deliveries - though British officials are not giving any details of how.

Boris Johnson: Putin's actions in Ukraine qualify as war crimes

Denmark, like the UK, also contributes to the Nato military force that has been established in Estonia.

That specific force was first set up to act as a deterrent following Russia's invasion of Crimea in 2014, and to reassure an ally.

Britain has now doubled the number of its troops in Estonia in response to Russia's actions in Ukraine.

President Putin was warned that this was likely to be one of the consequences of invading Ukraine - more Nato, not less on Russia's border.

Source: BBC

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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.