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UN calls for political solution to end conflict between Israelis and Palestinians

According to the Xinhua The United Nations on Wednesday called for a political solution to end the conflict between Israelis and Palestinians, although the international community is providing urgent assistance to Gaza in the wake of the most recent round of hostilities.
"Urgent efforts to improve the situation in Gaza must move forward swiftly, but let us not lose sight of the broader goal: resolving the Israeli-Palestinian conflict, ending the occupation and realizing a two-state solution on the basis of UN resolutions, international law and bilateral agreements," said Lynn Hastings, the UN humanitarian coordinator in Palestine, while briefing the Security Council on developments in the aftermath of 11 days of brutal fighting in May.
Speaking from Jerusalem via video link, Hastings told ambassadors that the damage from the escalation is estimated at between 290 million U.S. dollars to 380 million dollars, according to an assessment by the World Bank and the European Union. Economic losses are projected at nearly 200 million dollars.
Gaza's social sector was hit hard, weakening the safety net for the most vulnerable residents, while the immediate and short-term recovery and reconstruction could cost up to 485 million dollars.
"International efforts - coordinated by the United Nations - to implement the humanitarian response and stabilize the situation on the ground in Gaza are well underway," said Hastings, who is also the UN resident coordinator in the Middle East.
"Thus far, some 45 million dollars of a requested 95 million dollars has been raised for the consolidated humanitarian flash appeal published by the UN in May," she said.
Hasting underscored the readiness of the UN and partners to implement recovery and reconstruction initiatives, in coordination with the Israeli and Palestinian authorities, Egypt, Qatar and other regional and international entities.
She reported that fuel deliveries for the Gaza Power Plant resumed on June 28 through the Kerem Shalom crossing, and additional restrictions on the import and export of certain items have been lifted.
Israel also expanded the Gaza fishing zone up to 12 nautical miles, but reduced it by half this week following the launch of incendiary balloons into its territory.
"In this context, further steps are needed," the UN official said. "It is essential that Israel implement additional measures to allow unhindered entry of all humanitarian assistance, including materials to implement the 2021 Humanitarian Response Plan and the Flash Appeal."
Without regular and predictable entry of goods into Gaza, response would be at risk, she said, and livelihoods, as well as the wider economy, would be affected. Improved movement and access is also critical for any durable stability.
"While urgent humanitarian interventions can provide crucial relief in the short-term, any sustainable future in Gaza requires political solutions. I again reiterate the need for the return of a legitimate Palestinian Government to the Strip," she said.
Turning to related matters, Hastings highlighted the financial situation at the UN agency that assists the Palestinian people, UNRWA, which is facing a 100 million dollars shortfall.
The cash flow crisis could affect the re-opening of school for half a million children in Gaza, and undermine humanitarian and early recovery programs there.
"I appeal once again to all donors, including those from the Arab region, to sustain the funding levels of past years and advance disbursements of funds as much as possible to avoid a disruption of essential services and humanitarian aid," she said.
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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