Thousands of workers in UK begin 4-day strike due to unfair pay
August 18, 2022, 10:14 am

Thousands of workers in UK begin 4-day strike due to unfair pay

Train station in Brighton, England - Photo. Pixabay

Thousands of workers across the UK began a four-day strike on Thursday (August 18) due to long-running disputes over working conditions and unfair pay, the Anadolu Agency reported.

Commuters across the country, including the capital London, will face disruptions as services on trains, buses and the underground will be ground to a halt.

Workers taking part in the industrial action are largely from Network Rail, Transport for London, London Buses and other transport services and are members of a number of unions including the Rail, Maritime and Transport (RMT) Unite unions.

RMT head Mike Lynch said: “Network Rail have not made any improvement on their previous pay offer and the train operating companies have not offered us anything new. Subway bosses are having secret negotiations with the government about cutting costs by slashing jobs and undermining working conditions and pensions.”

London is the capital and largest city of England and the United Kingdom, with a population of just over 9 million - Photo. Pixabay

He added: “Network Rail is also threatening to impose compulsory redundancies and unsafe 50% cuts to maintenance work if we did not withdraw strike action. The train operating companies have put driver-only operations on the table along with ransacking our members’ terms and conditions.”

In addition to Thursday’s industrial action, members of the RMT and Unite unions will walk out of London Underground subway stations and bus depots on Friday in a separate dispute over pay.

UK train drivers launch weekend strike over pay

On Saturday, railway workers including train drivers, conductors and platform staff alongside members from the London United bus routes will stage a walkout that will further disrupt travel plans for many on the weekend.

Transport Secretary Grant Shapps, however, condemned the mass industrial action and blamed its participants for causing unnecessary disruptions to millions of commuters who rely on the country’s transport services to go to work and visit family and friends.

Shapps said: “It’s clear, from their coordinated approach, that the unions are hell-bent on causing as much misery as possible to the very same taxpayers who stumped up £600 per household to ensure not a single rail worker lost their job during the pandemic.”

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He added: “Sadly, union chiefs have short memories and will be repaying this act of good faith by ruining millions of hard-working people’s summer plans. Businesses too will suffer, with the capital’s leisure and tourism sectors, which have been banking on that summer trade, set to lose millions – a particularly cruel blow given how hard many worked to stay afloat during successive summers of lockdown.”

Unions leading the mass strike, however, argue that their workers are being severely affected by the cost-of-living crisis with inflation reaching a high of 10% and a drop in real wages. Furthermore, poor working conditions endanger their lives.

In June, a mass walkout by members of the RMT union caused one of the UK’s largest rail strikes in 30 years.

Source: aa

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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.