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Return to the Nuclear Era

It has been less than a week since the Russian military operations in Ukraine began, but it feels like a lifetime of geopolitics has happened within that time. Yesterday on Twitter the word “Armageddon” was trending in response perhaps to the news that Russian President Putin had put his nuclear forces into “special combat readiness,” a heightened alert level.
This followed the unsubtle warning that Putin gave when he announced the escalation – that any attempted interference in Russia’s operations would result int “consequences greater than any you have faced in history”. Russia possesses approximately 6,000 nuclear warheads as of 2022—the largest stockpile of nuclear weapons in the world.
Suddenly a generation who haven’t grown up in the shadow of the Cold War are having to learn again about the scourge of these species threatening weapons. The Soviet-US confrontation was always defined by the prospect of ‘MAD’ otherwise known as ‘mutually assured destruction’. The movement of nuclear submarines, missiles and bomber aircraft across countries was the eb and flow of this conflict with the prospect for misunderstandings bringing the planet to the brink on several occasions.
Today we are witnessing what could evolve into the most serious conflict since World War Two. One of the world’s largest, and nuclear armed, militaries is engaged in operations that lack any sense of purpose and end and that have already serious escalated within the last few days. Concerns have arisen that Moscow will base nuclear weapons in Belarus, where they’ve launched attacks into Ukraine from.
On Tuesday Russian Foreign Minister Lavrov told the UN Conference on Disarmament in Switzerland that it is time for US nuclear weapons in Europe to go home. Redefining the conflict in Ukraine around nuclear weapons and the balances of forces is a dangerous new period for the continent and beyond.
Much has changed since the Cold War in terms of geopolitics, personalities and even the certainties around communication that allowed humanity to dodge nuclear war. Weapons have also changed. New hypersonic missiles may render the defences built to counter ballistic missiles obsolete. Drones are reshaping the modern battlespace as events in Ukraine are showing; will they soon be able to deploy tactical nuclear weapons?
One immediate response to events in Ukraine has been the deployment of the NATO Rapid Reaction Force for this first time in its history. Countries like German have already pledged to significantly increase their defence budget by 100 billion euros ($112.7 billion) as confirmed by Chancellor Olaf Scholz said during a special session of the Bundestag on Sunday.
A global arms race around new nuclear technologies as well has heightened tensions as to their accidental use remains a real prospect for the next decade. This will inspire a reengagement around the cultural and societal prospects of nuclear Armageddon. In the 1980s books and films around this prospect dominated the market. The anti-nuclear movement also grew and grew. It is still with us today and will need a new wind to take it into the context of the post-Ukraine moment.
Remember that the “International Campaign to Abolish Nuclear Weapons” (ICAN) won the Nobel Peace Prize as recently as 2017 for "its work to draw attention to the catastrophic humanitarian consequences of any use of nuclear weapons and for its ground-breaking efforts to achieve a treaty-based prohibition of such weapons."
A recalibration of the relationship between existing nuclear states, the prospect of new states looking to acquire these weapons as the cost and ease of manufacturing them reduces, and the global shift in geopolitical discussions may well be changing due to the events of the past week. Suddenly we have moved, in a jarring and discombobulating manner, from seeing nuclear weapons and their use as vestiges of the past to again being real and live issues of the present.
It was fitting that early on in Russia’s military operations the disaster site of Chernobyl was captured soon followed by warnings of increasing radiation emanating from the area. The site of the world’s worst nuclear accident is a reminder, if needed, of the dangers of atomic weapons and the epoch spanning threats that there use has on the human and natural environment. As we enter this new nuclear era we must relearn the ability to challenge and push back on the scourge of these weapons.
BY: James Denselow
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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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