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Liz Truss becomes next Prime Minister after beating Rishi Sunak by 21,000 votes

The UK’s next prime minister has been officially announced as Liz Truss, who has beaten Rishi Sunak in the race to become leader of the Conservative Party, according to the Metro.
In total, Ms Truss received 81,326 votes from the Tory membership compared to Mr Sunak’s 60,399.
The results were announced by Sir Graham Brady today after the contest began in July.
It means that Ms Truss, currently the Foreign Secretary, will be asked to form a government tomorrow after Boris Johnson steps down.
In a speech of thanks, she said it was an honour to be announced as the winner after a ‘hard-fought campaign’ against Rishi Sunak – and promised to govern ‘as a Conservative’.
She hinted that there would not be a general election anytime soon, saying: ‘We will deliver, we will deliver and we will deliver.
‘And we will deliver a great victory for the Conservative Party in 2024.’
I am honoured to be elected Leader of the Conservative Party.
— Liz Truss (@trussliz) September 5, 2022
Thank you for putting your trust in me to lead and deliver for our great country.
I will take bold action to get all of us through these tough times, grow our economy, and unleash the United Kingdom’s potential. pic.twitter.com/xCGGTJzjqb
She paid tribute to Boris Johnson, saying he had steered the country through crises including coronavirus and the Ukraine war as well as ‘crushing’ former Labour leader Jeremy Corbyn.
‘I know that our beliefs resonate with the British people: our beliefs in freedom, in the ability to control your own life, in low taxes, in personal responsibility,’ she told those gathered.
Next British PM to be revealed at 1130 GMT today
‘I know that’s why people voted for us in such numbers in 2019 and as your party leader I intend to deliver what we promised those voters right across our great country.’
The 47-year-old will become the UK's third woman prime minister. She followed Margaret Thatcher and Theresa May.
She will travel to Balmoral tomorrow where she will have an audience with the Queen and meet Boris Johnson for a handover of power.
She will then make an address to the country later in the evening to thank Tory party members for voting for her and set out her hopes for her term in power.
YouGov poll: Only 12 percent expect Liz Truss will be a good prime minister
Liz Truss has promised to take action to deal with surging energy costs after winning the Tory leadership contest, according to the BBC
She has promised to detail a plan to deal with soaring prices within days, with an announcement understood to be pencilled in for Thursday (Sep 8).
She inherits a flagging economy, with inflation at a 40-year high and pressure to shield households and businesses from soaring energy costs.
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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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