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PM Rishi Sunak says ‘golden era’ with China over

British Prime Minister Rishi Sunak declared Monday (Nov 28) that the U.K.’s “golden era” of ties with China was over in his first major speech on foreign policy, describing China’s growing authoritarianism as a “systemic challenge to our values and interests.”
But Sunak stopped short of calling China a threat, disappointing China hawks in his Conservative Party who had until recently expected him to class China as a “threat” to U.K. security as part of an update of the government’s foreign and defense policies.
In his speech to the annual Lord Mayor’s Banquet in London, Sunak said the U.K. would stand up to global competitors like China — “not with grand rhetoric but with robust pragmatism” and by boosting its ties with like-minded global allies including the U.S., Canada, Australia and Japan.
“We recognize China poses a systemic challenge to our values and interests, a challenge that grows more acute as it moves towards even greater authoritarianism,” he said.

Referring to Beijing’s handling of widespread protests across China against the country’s strict “zero COVID” strategy, Sunak said that “instead of listening to their people’s protests, the Chinese government has chosen to crack down further, including by assaulting a BBC journalist.”
In July, during a Conservative leadership race to pick a successor to former Prime Minister Boris Johnson, Sunak said China represented the “largest threat” to Britain and the world’s security and prosperity.
Rishi Sunak to meet China’s Xi Jinping in first such talks in five years
At the time, he pledged to close all Confucius Institutes, the partially Chinese government-funded organizations that promote Chinese culture and language at U.K. universities. He also said he would lead an international alliance against Chinese cyberthreats, and help British companies and universities counter Chinese spying.
Lawmaker Iain Duncan Smith, a former Conservative Party leader and a vocal China critic, said Sunak’s “robust pragmatism” meant “anything you want it to mean” and amounted to “appeasement.” And David Lammy, the opposition Labour Party’s foreign affairs spokesman, described Sunak’s speech as “as thin as gruel.”
“All it shows is that once again the Conservative government is flip-flopping its rhetoric on China,” Lammy said.
Source: ap
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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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