Three Australian states issue evacuation orders after heavy rain
October 14, 2022, 9:24 am

Three Australian states issue evacuation orders after heavy rain

Floods cause material damage, with several vehicles and houses destroyed or affected/Pixabay

Communities in three Australian states have been ordered to evacuate as torrential rain brings major flooding, according to the BBC

Parts of the country have received up to four times their average October rainfall in just 24 hours.

At least 500 homes have been flooded, one person has died and another is missing as the disaster unfolds.

Widespread flooding across Australia - driven by a La Niña weather pattern - has killed more than 20 people this year.

Victoria - Australia's second most populous state - has been worst hit this week. Several communities have been ordered to evacuate, including some in the state capital Melbourne.

Floods have swamped roads, forced school closures and cut power to 3,000 houses and businesses.

Communities in three Australian states have been ordered to evacuate as torrential rain brings major flooding (File photo: Pixabay)

Premier Daniel Andrews said the number of inundated homes was "absolutely certain to grow", calling it one of the state's worst flood events in decades.

"This has only just started, and it's going to be with us for a while," he told the Australian Broadcasting Corporation.

Barry Webster, who lives in Melbourne's north-west, is one of those whose house has gone underwater.

Australia's New South Wales braces for more floods with 64 warnings

"I always said I wanted riverfront views, but not like this," he told The Age. "Going downstairs and seeing the lounge floating… it's a bit surreal, kind of like a movie."

Many areas received massive 24-hour rainfall totals, but the highest was in Strathbogie, north-east of Melbourne.

It received 220mm - more than double the town's average October rainfall, or about a third of London's annual average.

Several rivers have also flooded in Tasmania after up to 400mm of rain fell in some areas in 24 hours. It is unclear how many homes and business have been affected there.

Heavy storms, floods in Italy leave seven people dead, three missing

In New South Wales, about 600 people were told to evacuate from the town of Forbes, where about 250 properties and business were expected to flood.

One man died in the state's west earlier this week after his car became submerged in floodwaters.

Rescuers have also been searching for man thought to have been swept away in similar circumstances on Tuesday.

More rain is forecast in the coming weeks, placing strain on already swollen rivers and saturated ground.

Experts say recent flooding in Australia has been worsened by climate change and a La Niña weather phenomenon. In Australia, a La Niña increases the likelihood of rain, cyclones and cooler daytime temperatures.

Source: BBC

UK PM Truss determined to deliver growth plans: Minister Turkish, Belarusian presidents meet in Astana

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.