Liz Truss vows to match Ukraine military support as politics returns
September 20, 2022, 7:24 am

Liz Truss vows to match Ukraine military support as politics returns

Ukraine can depend on the UK for support in the long term - UK PM Liz Truss official Twitter account

Following the Queen's funeral, Prime Minister Liz Truss will vow to match UK spending on military support to Ukraine next year, as she restarts her government's agenda, the BBC reported.

Political activity and government business were paused until after the Queen's funeral, which was attended by Ms Truss, alongside other politicians, foreign dignitaries and members of the Royal Family.

As politics resumes in the UK, Ms Truss will travel to the United States for her first foreign trip as prime minister.

The UK has been one of the leading donors of military aid to Ukraine, committing £2.3bn since Russian President Vladimir Putin's forces invaded the country in February.

Ms Truss will pledge military aid worth billions during a trip to meet world leaders in New York this week.

She will use a speech to the UN General Assembly to rally support for Ukraine.

The trip comes at a time of global economic turmoil driven by soaring energy prices and the Ukraine war.

The Kharkiv offensive (September 6 – 13) was a brilliant military operation that led to the liberation of countless villages, towns and cities in Kharkiv Oblast - 📷 Kostiantyn and Vlada Liberov via Euromaidan Press

A hectic week of diplomacy and policy announcements lies ahead for Ms Truss and her government after a period of national mourning for the late Queen ended.

Her busy agenda will include a series of meetings with world leaders, including US President Joe Biden and French President Emmanuel Macron, and her first big speech as prime minister on the international stage at the UN General Assembly in New York.

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She was expected to meet Mr Biden on Wednesday (Sep 21) at the assembly after a planned meeting with him before the Queen's funeral was postponed.

Ms Truss's speech to the assembly will focus on renewing the UK's long-term commitment to Ukraine and ending international energy dependence on Russia.

In her speech, Ms Truss will point to the recent success of Ukraine's counter-offensives as examples of what the country can achieve with Western backing.

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"Ukraine's victories in recent weeks have been inspirational," Ms Truss said. "Time and time again these brave people have defied the doubters and showed what they can do when given the military, economic and political support they need."

Supporting Ukraine was a key policy plank of the previous UK government led by Ms Truss's predecessor, Boris Johnson.

On a visit to Ukraine last month, Mr Johnson said the West must endure rising energy bills to help the country drive out Russia.

But Labour urged Ms Truss to use the trip to the UN to start "rebuilding our country's diplomatic influence".

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Shadow foreign secretary David Lammy, also attending the assembly, said: "Twelve years of Conservative governments making diplomatic gaffes, announcing plans to break international law, failing to live up to promises on climate action and cutting international aid have damaged relations with the US and left Britain isolated on the global stage.

"After being snubbed by the Biden administration within her first weeks in office, Liz Truss urgently needs to wake up to the damage her reckless approach to foreign policy is doing to the UK's national interest."

levantnews-BBC

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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.