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As world cowers, China glimpses coronavirus aftermath

Restaurants are reopening, traffic and factories are stirring, and in one of the clearest signs yet that China is awakening from its coronavirus coma, the country's "dancing aunties" are once again gathering in parks and squares. world
As the rest of the world runs for cover, China -- where the virus first emerged -- is moving, guardedly, in the opposite direction as domestic infections fall to nil following unprecedented lockdowns and travel restrictions.
But ordinary life is far from normal.
Masks and temperature checks are essential to enter most places and many eateries are banning diners from facing each other in a mass "social distancing" campaign -- no easy task in the world's most populous nation.
Beijing retiree Wang Huixian was among a dozen women practising the national pastime of dancing in unison to music from portable speakers in a public park -- but now with a gap of three metres (10 feet) between them.
During the epidemic, everyone was very tense and afraid. So we want to relax now," said Wang, 57.
But she added: "Everyone is cautious and keeping a distance from each other to avoid getting infected." world
Alongside more than 3,200 deaths and over 81,000 total infections, the coronavirus outbreak has left further scars.
China, the world's second-largest economy, was shut down for weeks, with factories silent and massive cities locked down.
The pain from that is expected to persist, with a surge in joblessness and many businesses gone bust.
Most of the country is now slowly lifting restrictions and people are returning to work, unlike many Western countries where governments have ordered sweeping restrictions not seen during peacetime.
Many European countries are in near-total internal lockdown, and popular tourist spots are deserted.
But after weeks of empty streets and citizens sheltering at home for safety, Shanghai has transformed in recent days.
Cafes and some tourist sites have reopened, and residents of China's biggest city are re-emerging for tai chi in the park, or to take selfies along the riverfront under bright spring sunshine.
"I was very scared. A sense of fear persisted," said 50-year-old Zhang Min, the owner of an office-supply company, while strolling in a Shanghai park.
"But now all is good... not like the people overseas who are engaged in panic-buying." world
The flow of daily commuters into Shanghai's financial district is picking up and some inter-provincial travel restrictions have eased.
However, many provinces and cities like Shanghai now require citizens to show a downloaded QR code on their mobile phone that rates them as "green", "yellow" or "red" -- based on tracking of whether they visited a high-risk zone -- before entering many businesses.
"My feeling is that people with (virus) issues can't come out, but people who can are safe, so we're reassured," child-care worker Lai Jinfeng, 41, said while strolling the Shanghai's famous Bund.
People shrink from an offered handshake, many restaurants have removed half their chairs to disperse customers, and other restrictions on large gatherings remain in place.
And the now-ubiquitous face mask is being worked into cosmetics routines, with online beauty influencers instructing millions of women on applying make-up only to the upper half of the face, without staining the mask itself. world
President Xi Jinping declared during a March 10 visit to the still locked-down epicentre city of Wuhan in Hubei province that China had "turned the tide," and a top economic official said Tuesday that 90 percent of businesses outside Hubei were operating again.
But as China emerges from the worst of the virus on its soil, the costs of the pandemic will become clearer in the coming weeks and months, analysts say.
"Basically before the epidemic, last year, my business was very good, but not now," said Cai Qizhen, 52, who runs a small cobbler's shop in Shanghai.
"Now basically I don't come in the morning... and I'm finished by 3 pm with nothing left to do."
source: AFP levant
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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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