Australia to join US in diplomatic boycott of the 2022 Winter Olympics in China
December 8, 2021, 1:37 am

Australia to join US in diplomatic boycott of the 2022 Winter Olympics in China

Olympic stadium/Pixabay

The BBC reported, Australia has said it will join the US in a diplomatic boycott of the 2022 Winter Olympics in China.

Prime Minister Scott Morrison said the decision was in response to "human rights abuses" in China's Xinjiang province and "many other issues that Australia has consistently raised".

He added, athletes would still attend.

China has condemned the US announcement and threatened to retaliate, without giving further details.

On Monday, the US said it would not send diplomats to the Games in Beijing over concerns about China's human rights record.

Australia-Sydney-Darling harbor/Pixabay

Mr Morrison said it was "no surprise" that Australia had joined the boycott, given relations with China had deteriorated in recent years.

"I'm doing it because it's in Australia's national interest," he said on Wednesday. "It's the right thing to do."

He accused China of rejecting opportunities to improve relations, insisting Australia remained open to bilateral talks.

At a media briefing on Tuesday, Chinese foreign ministry spokesman Zhao Lijian accused the US of violating "political neutrality in sport" and said the proposed boycott was "based on lies and rumours".

Tensions are high between both countries. The US has accused China of genocide in its repression of the predominantly Muslim Uyghur minority in the western region of Xinjiang - an allegation China has strongly denied.

Relations are also strained over China's suppression of political freedoms in Hong Kong, and because of concerns for the Chinese tennis player Peng Shuai, who was not seen for weeks after she accused a top government official of assault.

Canberra has increasingly come to view China as a security threat amid allegations that Beijing has interfered in Australian politics and society.

It has also raised concerns over two Australian citizens who remain imprisoned in China.

Pro-democracy writer Yang Hengjun has denied charges of espionage and allegedly faced torture since his arrest in January 2019. Journalist Cheng Lei has been held without charge since August last year.

Other countries - including Canada and Japan - are also said to be considering diplomatic boycotts of the Games. New Zealand has confirmed it will not send officials due to Covid concerns.

The Australian Olympic Committee said it supported its government's move but was keen to ensure safety for its approximately 40 athletes.

Source: BBC

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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.