Mysterious Explosion Rocks Daraa Countryside Amid Intense Israeli Air Activity
Targeting of Syrian-Lebanese border crossings indicates Israeli attempts to cut supply lines between Hezbollah and its regional supporters
October 29, 2024, 9:04 pm

Mysterious Explosion Rocks Daraa Countryside Amid Intense Israeli Air Activity

قوات النظام في درعا/ المرصد السوري

Tel al-Jabiya area in western Daraa countryside witnessed a violent explosion, coinciding with observed air activity believed to be Israeli in the skies over the area northwest of Nawa city.

The Syrian Observatory for Human Rights reported observing smoke columns rising from the explosion site, without confirming the cause of the incident or its connection to an Israeli airstrike, while no information about human casualties was reported.

This incident was preceded by Israeli artillery targeting a site southwest of Hadar town in Quneitra countryside on October 19, coinciding with shells falling in agricultural lands in the Saheeta area near the Golan.

Bulldozing operations and trench digging continue along the demilitarized zone in the Syrian Golan, amid escalating tension on the Syrian-Israeli border.

Recent weeks have witnessed an escalation in Israeli airstrikes on Syria, especially with the intensification of the war in Gaza, where strikes targeted sites associated with Lebanese Hezbollah.

Israel recently intensified its targeting of border crossings between Syria and Lebanon, which saw tens of thousands of people fleeing Israeli bombardment on Lebanon during the past week.

Israel has carried out hundreds of airstrikes in Syria since the conflict erupted in 2011, targeting regime forces, Iranian targets, and Hezbollah-affiliated sites.

Although Tel Aviv rarely confirms responsibility for strikes in Syria, it consistently affirms its determination to confront Iran's attempts to establish its military presence in the region.

These developments come amid escalating regional tension, with Israel continuing to target what it describes as security threats on its northern borders.

Levant-Agencies

In Pennsylvania.. Trump Claims Thousands of Voter Forms Fraudulent Critical Blow to Hezbollah: Aita al-Shaab Commander Arrested and Tunnel Network Exposed

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.