’Dangerous’ heat wave hits southwestern US through the week
August 31, 2022, 8:28 am

’Dangerous’ heat wave hits southwestern US through the week

Heatwaves are most common in summer when high pressure develops across an area - Pic. Pixabay

A “dangerous” heat wave was taking hold of the southwestern United States Tuesday (August 30), with punishing temperatures expected for the next week, the AFP reported, the Arab news said.

Forecasters said the mercury could reach as high as 112 Fahrenheit (44 Celsius) in the densely populated Los Angeles suburbs as a heat dome settles in over parts of California, Nevada and Arizona.

The National Weather Service warned: “Dangerously hot conditions expected through the week."

“A prolonged period of excessive heat will significantly increase the potential for heat related illnesses, particularly for those working or participating in outdoor activities,” the NWS said.

“Those without access to adequate or reliable cooling or hydration will be at most risk, but much of the population could be susceptible to impacts as well.”

Nighttime temperatures are not expected to offer much relief, with lows struggling to get below 80 Fahrenheit in many places.

A heatwave is an extended period of hot weather relative to the expected conditions of the area at that time of year, which may be accompanied by high humidity - Pic. Pixabay

Things were heating up in and around Los Angeles on Tuesday, with inland areas already experiencing stifling temperatures.

But, said David Sweet, a meteorologist at the NWS in Oxnard, California, it is going to get worse.

“We’re looking at a heat wave starting on Wednesday and continuing through at least Monday of next week,” he told AFP.

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“During that time, we’ll be looking at conditions hot enough to warrant an excessive heat warning,” he added.

It is not unusual for southern California to experience heat waves in September, but temperatures above 100 Fahrenheit are considered hot even for a place almost perpetually baked by sunshine.

The heat wave comes after swathes of the southwest were lashed with torrential rains over recent weeks.

Some areas, including the notoriously dusty Death Valley, suffered flooding, and one person died after being swept away in Zion National Park in Utah.

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Scientists say global warming, which is being driven chiefly by humanity’s unending appetite for the power that fossil fuel provides, is making natural weather variations more extreme.

Heat waves are getting hotter and more intense, while storms are getting wetter and, in many cases, more dangerous.

Source: arabnews

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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.