Blow to Boris: UK MPs vote to delay decision on BoJo’s Brexit deal, insist he now must ask for extension from EU
October 20, 2019, 7:32 am

Blow to Boris: UK MPs vote to delay decision on BoJo’s Brexit deal, insist he now must ask for extension from EU

UK PM Boris Johnson in the House of Commons on Saturday.

In a defeat for Prime Minister Boris Johnson, UK MPs passed an amendment delaying approval of his deal with the EU. Lawmakers also want Johnson to apply for yet another Brexit extension, which he rejects outright.

The amendment laid down by former Conservative Cabinet minister Sir Oliver Letwin has been passed by the House of Commons by 322 votes to 306. It means that Parliament withholds support for Johnson’s deal with the EU until formal ratification legislation, known as the Withdrawal Agreement Bill, is passed by MPs in the lower house and the Lords in the upper house.

This led to the crucial Brexit vote not taking place on Saturday at all and it’s yet unclear when the MPs will return to the matter. The government wanted to put the deal with the EU to another vote on Monday, but House of Commons Speaker John Bercow said that he would only decide if he’ll allow that to happen at the start of the week.

“The government is not the arbiter of what is orderly,” Bercow said, referring to the parliament convention that the same question can’t be raised twice during the one session.

The Letwin amendment was designed to close any loopholes in the Benn Act, which aims at preventing the UK from leaving the European Union without a deal. The Benn Act also states that if MPs fail to greenlight Johnson’s deal – hailed by both the PM and Brussels – by the end of Saturday, he has to write a formal letter to the EU asking for a three-month Brexit extension. For now, the UK is scheduled to leave the bloc on October 31.But Johnson, who earlier vowed to leave the EU by October 31, with or without a deal, vigorously rejected the idea of asking Brussels for any extension.

The PM said he may defy the act because “further delay will be bad for this country, bad for the European Union and bad for democracy.”

European Commission President Jean-Claude Juncker has also ruled out any further delays to Brexit. “We have a deal. So why should we have a prolongation ?” he told reporters after concluding talks on the new separation agreement with Johnson earlier this week. However, Juncker’s word wouldn’t be enough to reject the extension request from London as the approval of all 27 EU leaders is required.

source:RT

Rise in trafficking of Ivorian women, girls to Europe Turkey, Russia to discuss removal of Kurdish-led forces from Syrian cities

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.