Australia's New South Wales braces for more floods with 64 warnings
October 8, 2022, 12:00 pm

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

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

Australia's most populous state of New South Wales was bracing on Saturday (Oct 8) for more heavy rain and possible floods as the tally of weather warnings rose to 64 and authorities urged people to take extreme care and avoid travel.

The rains are expected to hit Sydney and flood warnings have been issued for rivers both nearby and inland, as weather officials said that rain since Wednesday in some parts of the state raised their levels.

"There is significant risk of flash flooding right across our state," Dominic Perrottet, the premier of New South Wales, told reporters.

"We currently have a situation where our dams are full, our rivers are full, so with heavy rain expected, we ask everybody to continue to be cautious."

Preparations to fight the floods included Australian Defence Force and emergency services helicopters and 500 emergency services volunteers placed on standby.

The emergency service added that there have been 10 flood rescues in the past 24 hours.

Australia's New South Wales braces for more floods with 64 warnings/Representative image - Photo. Pixabay

Australia's east is in the grip of a rare third straight year of the La Nina weather event, which brings more rain. With almost three months left in 2022, Sydney this week recorded its wettest year since records began in 1858.

More rain expected overnight will add to the risk of flash flooding, landslips, and fallen trees, said Steph Cooke, the state's emergency services minister.

Climate change: Pakistan floods’ death toll nears 1,500

"We are really asking communities, especially those across Sydney this evening, to please take care," Cooke said.

The challenge is made more daunting by expectations that roads will be busier than usual as schools return on Monday from spring break and about 200,000 spectators head home from a supercars championship.

Authorities urged motorists not to drive on flooded roads.

Guterres calls for global response to catastrophic floods in Pakistan

The rain is expected to ease on Sunday before moving offshore, although the middle of the week could bring more significant rainfall, the Bureau of Meteorology has said.

Australia's east coast has been repeatedly hit by devastating floods this year. In March, rising waters forced tens of thousands from their homes, with at least 13 deaths.

Source: usnews

Ukrainian authorities find mass grave in Lyman: Governor Women rule Europe

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.