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Biden leaves for Asia under Ukraine and North Korea nuclear shadows

US President Joe Biden visits South Korea on Friday evening (May 20), where he meets new President Yoon Suk-yeol, a relative newcomer to politics, for the first time in person. Biden will head to Japan from South Korea on Sunday (May 22).
During this tour, Biden wants to cement US leadership in Asia at a time when the White House’s attention has been pulled back to Russia and Europe — and amid fears of a North Korean nuclear test during his trip.
In his visit to South Korea, he will will tour with President Yoon Suk-yeol a Samsung Electronics plant on Friday ahead of a full day of events on Saturday (May 21).
While in Japan, he will join a regional summit of the Quad — a grouping of Australia, India, Japan and the United States.

Yoon told reporters outside his office on Friday: "I think (Biden's visit) will serve as an opportunity for the Korea-US alliance to become stronger and more inclusive because there are many changes happening in the international community,"
Biden and Yoon may quickly move from formalities to dealing with a weighty issue with North Korea at the top of the agenda. Leader Kim Jong Un abandoned a freeze on intercontinental ballistic missile testing and appears poised to resume testing of nuclear bombs, perhaps while Biden is in the region.
Joe Biden will host leaders of Sweden and Finland amid NATO bids
US cooperation with South Korea and Japan "will only strengthen in the face of further provocations" by North Korea, Biden national security adviser Jake Sullivan told reporters en route to South Korea when asked about the possibility of a weapons test.
Sullivan said: "We are prepared for those eventualities . The United States has told allies and China that such a provocation during the US visit would "cause adjustments to the way that our military is postured in the region."
Joe Biden to visit Asia next month to discuss China and Nourth Korea
Sullivan said there was “real risk of some kind of provocation while we’re in the region, whether in South Korea or Japan.”
He said: “We know what we will do to respond to them. We have communicated with not just our allies, but also with China."
Before his departure on Thursday (May 19), Biden met with the leaders of Finland and Sweden to celebrate their applications for joining NATO — a seismic development sparked by Russia’s invasion of Ukraine.
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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