Australian PM warns China to learn from Putin’s mistakes
June 28, 2022, 10:24 am

Australian PM warns China to learn from Putin’s mistakes

Australia has been invited to the NATO summit because democratic nations must stand together against Russia’s brutal invasion of Ukraine. We will work with our allies and partners, globally and in the Indo-Pacific. I spoke to the media on the tarmac in Sydney before departure - Australian PM Anthony Albanese official Facebook page

The Alarabiya English reported, citing Bloomberg, Australian Prime Minister Anthony Albanese has warned the Chinese government to learn the lessons of Russia’s “strategic failure in Ukraine", as he heads to Europe for a meeting of NATO leaders.

In an interview with the Australian Financial Review, conducted en route to Spain for the NATO meeting, Albanese said the Ukraine invasion had brought democratic nations together, “whether they be members of NATO, or non-members such as Australia.

When asked what message the Chinese government should take from Russia’s invasion of Ukraine, particularly for its ambitions toward Taiwan, Albanese said the war “had shown attempts to impose change by force on a sovereign country meet resistance.

The Chinese government under President Xi Jinping has been clear in its ambitions to unite China with the democratic island of Taiwan in coming decades. Beijing has long considered Taiwan to be a renegade province, despite the two being separately governed for more than 70 years.

I've arrived in Madrid for the NATO Summit
This week at the NATO summit in Spain, I’ll be working with partners to promote peace and security, including in our Indo-Pacific region.
Posted by Anthony Albanese on Monday, June 27, 2022

In recent years, China has ramped up its military exercises and drills in the air and sea around Taiwan in what the US and its allies have said is a pattern of growing aggression toward the island.

Albanese’s latest comments come at a time when Australia and China are tentatively exploring restarting diplomatic engagement under the center-left Albanese government, which was sworn in just over a month ago after winning a May election.

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However there are still a large number of points of diplomatic tension between the countries, including Beijing’s growing presence in the Pacific, punitive measures placed by China on Australian exports and the detention of two prominent Chinese Australians.

Albanese will join the leaders of three other Asia-Pacific nations -- Japan, South Korea and New Zealand -- at the NATO summit in Spain, before flying to Paris for a meeting to work on mending ties with French President Emmanuel Macron.

The Australian leader has been invited to visit Ukraine by President Volodymyr Zelenskyy but has not yet confirmed whether he will make the trip.

Australian journalist Cheng Lei to face court in Beijing next Thursday

At a press conference on Monday after landing in Madrid, Albanese confirmed that he had spoken to Solomon Islands’ Prime Minister Manesseh Sogavare for the first time since taking power. The Australian leader said it was a “very constructive discussion.”

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.