US governor meets Taiwan’s president after China drills
August 22, 2022, 1:06 pm

US governor meets Taiwan’s president after China drills

Taiwan President Tsai Ing-wen (File photo: Reuters)

A US governor met Taiwan’s president Monday (August 22), days after Washington announced trade talks with Taipei in a show of support following China’s military threats toward the self-ruled island, the AFP reported, the al-Arabiya English said.

Eric Holcomb, the Republican governor of the US state of Indiana, landed in Taiwan on Sunday (August 21) for an “economic development trip”.

US-China tensions have risen since Beijing staged huge military drills in retaliation for US House Speaker Nancy Pelosi’s visit to Taiwan earlier this month.

Taiwan lives under constant threat of an invasion by China, which claims the democratic island as part of its territory to be seized one day -- by force if necessary.

Beijing lashes out at any diplomatic action that might lend Taiwan legitimacy and has responded with growing fury to visits by western officials and politicians.

Taiwan is an island, roughly 100 miles from the coast of south east China. It sits in the so-called "first island chain", which includes a list of US-friendly territories that are crucial to US foreign policy - Text. BBC/Photo. Pixabay

In her meeting with Holcomb on Monday, President Tsai Ing-wen directly referenced Beijing’s drills and called for like-minded countries to continue supporting Taiwan.

“Presently we are facing the continued expansion of global authoritarianism,” she told Holcomb.

Taiwan independence means war, Chinese envoy warns

“Taiwan has been confronted by military threats from China in and around the Taiwan Strait. At this moment democratic allies must stand together and boost cooperation across all areas,” she said.

Holcomb said the US and Taiwan “share so many common values and interests and goals”.

“We will continue to seek to build a strategic partnership with you,” he said.

Holcomb is also expected to meet representatives of Taiwan’s world-leading semiconductor industry before leaving on Wednesday for South Korea.

Canadian lawmakers plan Taiwan trip amid rising China tensions

Alongside South Korea, Taiwan makes some of the world’s smallest and most advanced computer chips -- a commodity that is vital for electronics but in short supply worldwide.

Holcomb’s visit comes on the heels of the announcement of trade talks between Washington and Taipei in the coming months as a senior US diplomat warned Beijing will continue to put pressure on Taiwan.

China has lashed out at the plans for business talks with Washington -- though it also has multiple trade deals with Taiwan, signed during years when their relations were warmer.

Source: alarabiyaenglish

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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.