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US blames Russia for collapse of Cold War-era pact to limit nuclear arsenals

The US has blamed Russia for the collapse of a landmark arms deal designed to limit how much they can expand their nuclear arsenals.
President Ronald Reagan and Soviet leader Mikhail Gorbachev signed the Intermediate-range Nuclear Forces treaty three decades ago, but the modern day White House and Kremlin have shown no willingness to extend or replace it once it expires in 2021.
The US confirmed it would quit the agreement on Friday but has blamed Russia, claiming that Moscow has been in violation of its terms for years in its development and fielding of certain weapons.
US Secretary of State Mike Pompeo said Russia "is solely responsible for the treaty's demise", which comes amid concerns over a new, land-based, medium-range missile built in the country.
NATO said it would "respond in a measured and responsible way" to the "significant risks" posed by the weapon, with members having agreed upon a "balanced, coordinated and defensive package of measures"
Ahead of the move by the White House, Russian deputy foreign minister Sergei Ryabkov told Sky News that the country has started research and development on ballistic and cruise missiles of intermediate range capabilities, but that no such weapons would be deployed "unless the US does
He added that Moscow also considers the deployment of conventional missiles in Europe to be destabilising.
The collapse of the treaty means that there will be no legally binding restrictions on the two biggest collections of nuclear weaponry in the world for the first time in nearly half a century, prompting fears of a new global arms race.
The Trump administration has indicated that it will now counter Russia - and the emerging power of China - by increasing its own arsenal.
Donald Trump has also not committed to extending or replacing the more recent New Start deal, which began imposing limits on the number of US and Russian long-range nuclear warheads and launchers last year.
The US president has described it as "just another bad deal" signed by predecessor Barack Obama, and has suggested he would prefer to strike an arms control agreement that also included China.
Speaking on Thursday, he said: "We'll see what happens. I will say Russia would like to do something on a nuclear treaty and that's okay with me. They'd like to do something and so would I."
The Republican has withdrawn the US from a number of deals signed by previous administrations since he took office in 2017, including the Paris climate agreement and the Iran nuclear deal.
While Mr Trump has appeared relaxed about the demise of the 1987 treaty signed by Mr Reagan and Mr Gorbachev, its collapse has been met with concern in Europe.
German foreign minister Heiko Maas said it meant the continent was less secure.
"We regret the fact that Russia has not done what was necessary to save the INF treaty," he said.
"Now we call all the more on Russia and the US to preserve the New Start treaty as a cornerstone of worldwide arms control.
"Nuclear powers such as China must also face up to their responsibility on arms control - they have more weight in the world than at the time of the Cold War."
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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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