UK PM race in final countdown for Rishi Sunak, Liz Truss
September 3, 2022, 8:33 am

UK PM race in final countdown for Rishi Sunak, Liz Truss

(L) Liz Truss (R) Rishi Sunak

The race to replace Boris Johnson as the Conservative Party leader and the British Prime Minister is in a final countdown stage on Friday, when voting officially closes for Tory members to choose between former chancellor Rishi Sunak or foreign secretary Liz Truss.

Sunak, 42, and Truss, 47, have gone head-to-head in a dozen hustings up and down the UK over the past month to win over the votes of an estimated 160,000 Tory electorate.

While the British Indian former minister has pegged his campaign on getting a grip on soaring inflation as an immediate priority, the foreign minister has pledged tax cuts from day one in office.

Overall, it is how they plan to tackle the cost-of-living crisis faced by the British public that has dominated the debates even as the duo addressed their final hustings in London on Wednesday night, where they reiterated many of their pledges.

“I have put restoring trust at the heart of the campaign,” said Sunak, in response to a question about integrity and ethics.

Rishi Sunak in his latest televised debate (August 2) in the race to become the new Prime Minister in UK - Photo. Rishi Sunak official facebook page

While he was the clear frontrunner in the leadership contest in the first round of voting – when Tory MPs voted to select the two finalists in the contest, the Indian-origin finance minister has been on the back foot in the pre-poll surveys of Tory members who have a vote in this election.

Fierce loyalty to outgoing Prime Minister Johnson is being cited as a key motivating factor in the choice of a majority for Truss, who was not among the ministers who resigned in the days before Johnson’s forced exit from 10 Downing Street.

Sunak, Truss take part in UK leadership debate in Birmingham

A staunchly low-tax favouring Conservative Party’s attraction to Truss’ tax cutting promises is the other key factor behind her as the frontrunner to succeed Johnson.

However, Sunak’s supporters will be hoping for a repeat of the Brexit referendum result from June 2016 when Britain voted in favour of leaving the European Union (EU) and confounded most forecasts by pre-referendum surveys.

The 2019 general election, which brought Johnson to power with a thumping majority, was also against the forecasts of many poll pundits, who were predicting a less definitive result and anti-incumbency factor going against the Tories.

Liz Truss cancels BBC interview saying she couldn't 'spare the time'

The winner of the online and postal ballots being cast since voting opened in early August will be announced on Monday (Sep 5), with the new leader heading for Scotland for an audience with the Queen at her summer residence of Balmoral Castle.

Either Sunak or Truss will then address their first Prime Minister’s Questions in the House of Commons on Wednesday (Sep 7).

Source: g7tamil

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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.