Israel’s Netanyahu, Gantz make ‘significant progress’ toward unity govt
March 29, 2020, 3:30 pm

Israel’s Netanyahu, Gantz make ‘significant progress’ toward unity govt

A combo of Israeli PM Benjamin Netanyahu (L) and his rival Benny Gantz. (File photo AFP)

Israeli Prime Minister Benjamin Netanyahu and his rival Benny Gantz on Sunday announced “significant progress” in talks towards forming an emergency unity government amid the novel coronavirus pandemic. Israel’s Netanyahu

Gantz, whose now fractured centrist Blue and White alliance had positioned itself as the alternative to Netanyahu in three inconclusive elections over the past year, was elected parliament speaker on Thursday.

The two men had held talks through the night “aimed at establishing a national emergency government to deal with the corona crisis and the additional challenges facing the State of Israel,” said a joint statement from Blue and White and Netanyahu’s Likud.

“Significant progress was made during the meeting,” it added.

“During the day, an additional meeting will be held to come to a finalized agreement.”

Gantz was tasked with forming a government following the March 2 vote - something he had been unable to do after two elections last year.

There was no guarantee he would succeed this time, given a lack of cohesion within the anti-Netanyahu bloc.

The divided anti-Netanyahu forces, who held a narrow majority in the Knesset, Israel’s parliament, forced the ouster this week of speaker Yuli Edelstein, a member of Netanyahu’s Likud party.

Gantz then put himself forward as a speaker, triggering the break-up of Blue and White, with two key partners - the Telem and Yesh Atid parties - accusing Gantz of surrendering “without a fight” to Netanyahu.

Gantz and Netanyahu have both previously voiced support for a unity government to help combat the coronavirus pandemic, which has so far seen over 3,800 Israelis infected, including 12 deaths.

On Friday, Gantz justified his move as being “what my nation needs” given the coronavirus pandemic. Israel’s Netanyahu

“I won’t be the one who categorically refuses to step in and pull my weight in a state of emergency,” he wrote on Facebook.

There were no official details of the likely makeup of a future government, but Netanyahu has in past weeks proposed 18-month premiership terms - with him taking the first, to be followed by Gantz.

The veteran premier, in office since 2009, was in January charged with bribery, fraud, and breach of trust, with the start of his trial delayed due to the virus pandemic.

Netanyahu denies the charges. levant

source: AFP levant

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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.