Boris Johnson loses control of London strongholds in local elections
May 6, 2022, 7:24 am

Boris Johnson loses control of London strongholds in local elections

PM Boris Johnson, Health Secretary Sajid Javid, Chancellor of the Exchequer Rishi Sunak (File photo: Rishi Sunak official Facebook page)

The Hindu reported, citing Reuters, British Prime Minister Boris Johnson’s Conservative Party lost control of traditional strongholds in London and suffered losses elsewhere in local elections, early results on Friday (May 6) showed, as opposition parties capitalised on the government’s recent problems.

Mr. Johnson’s party was ousted in Wandsworth—a low-tax Conservative stronghold since 1978, which had been one of main opposition Labour Party’s main targets.

The Conservatives also said they had lost control of the borough of Barnet, which has been held by the party in all but two elections since 1964.

Daniel Thomas, the Conservative leader of Barnet council: “This is a warning shot from Conservative voters."

Westminster Abbey in London, England/Pixabay

The overall tally due later on Friday will offer the most important snapshot of public opinion since Mr. Johnson won the Conservative Party’s biggest majority in more than 30 years in the 2019 general election.

The ballot is the first electoral test for Mr. Johnson since he became the first British leader in living memory to have broken the law while in office. He was fined last month for attending a birthday gathering in his office in 2020, breaking social distancing rules then in place to curb COVID-19’s spread.

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Early results showed the Conservative Party had lost 92 council seats. The main opposition Labour Party had gained 23 seat and the Liberal Democrats 42 seats.

A poor set of results will increase pressure on Johnson, who has been fighting for his political survival for months and faces the possibility of more police fines over his attendance at other lockdown-breaking gatherings.

The results will decide almost 7,000 council seats, including all those in London, Scotland and Wales, and a third of the seats in most of the rest of England.

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Mr. Johnson upended conventional British politics in the 2019 general election by winning and then promising to improve living standards in former industrial areas in central and northern England.

But the loss of Wandsworth and Barnet symbolises the way that Johnson, who won two terms as mayor of London, has lost his appeal in the capital. His support for Brexit cost him support in London, where a majority of voters supported staying in the EU in the 2016 Brexit referendum.

Source: thehindu

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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.