US cancels UN envoy’s trip to Taiwan, citing Biden transition
January 13, 2021, 11:41 am

US cancels UN envoy’s trip to Taiwan, citing Biden transition

US Ambassador to the United Nations Kelly Craft speaks during a news conference at the US State Department in Washington. (File photo: AP)

The US State Department’s cancellation of all travel this week includes a planned visit to Taiwan by US Ambassador to the United Nations Kelly Craft, a State Department spokeswoman said on Tuesday.

Craft had been due to visit Taiwan from Wednesday to Friday, prompting China, which claims the self-ruled island as its own, to warn that Washington was playing with fire.

Secretary of State Mike Pompeo said on Tuesday that all travel this week had been canceled, including his own trip to Europe, as part of the transition to the incoming Biden administration.

But European diplomats and other people familiar with the matter said Luxembourg’s foreign minister and top EU officials had declined to meet with him during his planned European trip.

Beijing has been angered by stepped-up support for Taiwan from the Trump administration, including trips to Taipei by top US officials, further straining Sino-US ties.

Pompeo on Saturday said he was lifting restrictions on contacts between US officials and their Taiwanese counterparts.

US Secretary of State Mike Pompeo pats his head during a press conference. (AFP)

Craft’s Taiwan trip appeared to be another part of an effort by Pompeo and President Donald Trump’s Republican administration to lock in a tough approach to China before Democratic President-elect Joe Biden takes office on January 20.

Taiwan’s government expressed “understanding and respect” for the decision, but also regret.

“The Ministry of Foreign Affairs regrets that the US Ambassador to the United Nations Kelly Craft cannot lead a delegation to visit Taiwan from January 13 to 15 as scheduled, but welcomes Ambassador Craft to visit at an appropriate time in the future,” it said in a statement.

Craft is due to leave the role when Biden assumes the presidency next week.

China, which had expressed its strong opposition to Craft’s trip, reiterated it was firmly opposed to any official exchanges between Taiwan and the United States.

“China will continue to take all necessary steps to firmly defend its sovereignty and security interests,” Foreign Ministry spokesman Zhao Lijian told reporters in Beijing.

Chinese fighter jets approached the island in August and September during the last two US visits - by Secretary of Health and Human Services Alex Azar and Under Secretary of State for Economic Growth, Energy, and the Environment Keith Krach, respectively.

While the United States, like most countries, has no formal diplomatic ties with Taiwan, it is the island’s strongest international backer and arms supplier, being obliged to help provide Taiwan with the means to defend itself under the 1979 Taiwan Relations Act.

Trump is a popular figure in Taiwan for his administration’s support of the island, and Taipei has moved to reassure its citizens that backing will not change despite the handover in Washington.

Lo Chih-cheng, head of the ruling Democratic Progressive Party’s international department, said the State Department’s decision covered all official travel and was “not aimed at Taiwan”, pointing to their shared values of democracy and freedom.

“We look forward to continuing to gain cross-party support from the United States on the existing solid foundation,” he said in a statement.

source: Reuters

Image source: AP

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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.