Boris Johnson: Damage caused by West's failure to support Ukraine could reach Taiwan
February 19, 2022, 4:42 pm

Boris Johnson: Damage caused by West's failure to support Ukraine could reach Taiwan

Boris Johnson: The United Kingdom’s commitment to the security of Europe — with NATO as the indispensable guarantor — is unwavering (File photo: Boris Johnson official Facebook page)

The Alarabiya English reported, citing Reuters, British Prime Minister Boris Johnson said on Saturday that if Western nations failed to fulfil their promises to support Ukraine’s independence, it would have damaging consequences worldwide, including for Taiwan.

Russian troops are massed near Ukraine’s borders and President Vladimir Putin has launched exercises by strategic nuclear missile forces, but Russia rejects Western concerns that it is poised to invade.

Johnson told a security conference in Munich: “We do not fully know what President Putin intends, but the omens are grim."

If Ukraine is endangered, the shock will echo around the world. And those echoes will be heard in east Asia, will be heard in Taiwan,” he added. “People would draw the conclusion that aggression pays, and that might is right.”

China views Taiwan as part of its territory, and has not ruled out the use of force to regain control of the island, which has governed itself since 1949.

Allies must speak with one voice on Ukraine
The message I am taking to Munich Security Conference today is that allies must speak with one voice to stress to President Putin the high price he will pay for any further Russian invasion of Ukraine. We need western solidarity to avoid unnecessary bloodshed. Diplomacy can still prevail.
Posted by Boris Johnson on Saturday, February 19, 2022

Johnson said Western nations had repeatedly told Ukraine that they would support its independence.

He said: “How hollow, how meaningless, how insulting those words would seem, if at the very moment when their sovereignty and independence is imperiled, we simply look away."

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On Tuesday, Britain said it could block Russian companies from raising capital in London and has passed legislation to widen sanctions on Russian businesses and individuals if the country invades Ukraine.

Johnson said: “We will sanction Russian individuals and companies of strategic importance to the Russian state and we will make it impossible for them to raise finance on the London capital markets.”

He added that Europe must also wean itself off Russian oil and gas supplies to stop being at the risk of being blackmailed.

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According to the report, Johnson predicted Russia would pay a heavy military price if it invaded Ukraine.

He said: “I fear that a lightning war would be followed by a long and hideous period of reprisals and revenge and insurgency. And Russian parents would mourn the loss of young Russian soldiers."

Source: alarabiya

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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.