Yemen's separatists vow revenge for government assault on Aden
August 29, 2019, 2:45 pm

Yemen's separatists vow revenge for government assault on Aden

Southern Yemeni separatists vowed on Thursday to avenge a government assault on their positions in Aden and brought in reinforcements from elsewhere, threatening an escalation in fighting between nominal allies in the country’s complex war.

The separatists and Yemen’s internationally recognised government of President Abd-Rabbu Mansour Hadi are supposed allies in a Saudi-led coalition embroiled in a largely stalemated war against Iran-aligned Houthis who hold the capital Sanaa in the north and most other populated areas.

But the United Arab Emirates, the second major outside power in the coalition, has fallen out with Hadi’s side as it includes a party the UAE sees as close to the Muslim Brotherhood, which the Gulf state seeks to neutralise across the Middle East.

Hadi’s government said on Wednesday it had recaptured Aden airport and controlled most of the southern port city, an assertion quickly disputed by the separatists.

On Thursday, the separatist Southern Transitional Council (STC) said some of its troops positioned on the outskirts of the Red Sea port city of Hodeidah, which is under Houthi control, had returned to Aden to join the battle against Hadi’s forces.

“To whoever said the Southern Resistance has fled, I say: We are here,” Hani Ben Brik, STC’s vice-president, said in a video shared on social media showing him with dozens of his fighters outside Aden’s airport building.

Yemen’s foreign minister accused the United Arab Emirates, which backs the separatists, of carrying out air strikes on government positions in Aden. A Yemeni official said over 30 soldiers were killed by air strikes on the eastern outskirts.

The aid charity Medecins Sans Frontieres said it had taken in 51 casualties during heavy fighting in Aden on Wednesday, 10 of them already dead when they reached its hospital.

“It’s total chaos here. There was fighting in the city all day yesterday. Things appear to have calmed down a bit this morning, but we expect the hostilities to resume at any point,” MSF programme manager Caroline Seguin said in a statement.

Reuters could not independently confirm the air strike or casualty reports, and UAE officials did not immediately respond to requests for comment.

There were sporadic clashes across Aden on Thursday with gunmen on both sides patrolling deserted streets, residents said. Shops, restaurants and businesses were closed.

The Western-armed, Sunni Muslim coalition intervened in Yemen in March 2015 against the Houthis after the group ousted Hadi from power in Sanaa in late 2014. Aden is now the temporary seat of Hadi’s government.

A brigade of the STC’s Giants Brigades had arrived in Aden from the Hodeidah theatre to support the fight against government forces, an STC statement said. A U.N.-brokered ceasefire has been in place in Hodeidah since December.

Reuters.

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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.