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Boris Johnson’s multiple failures
Boris Johnson, the British prime minister, was quick to wish Donald Trump a speedy recovery when the US president let it be known – on Twitter, naturally - that he and his wife Melania were infected with coronavirus – like millions of other people round the world.
Of course, Boris – as is known across the UK, even by the many who dislike him – suffered from the illness himself in March, the first head of government to become ill, and lived to tell the tale. The stakes are far higher in the case of Trump, not least with regard to November’s US presidential election and global repercussions it will have.
Back then Boris’s own brush with Covid-19 served his interests by convincing some voters that his unpleasant personal experience would reinforce his dogged determination to defeat the pandemic. Just days before that Jeremy Hunt, a senior Conservative and a former health secretary, had declared - in reference to strict lockdowns in Italy and elsewhere in Europe – that it was "surprising and concerning that we're not doing any of it at all."
Boris, however, is still not doing well. The UK has the highest number of Covid-related victims in Europe with over 42,000 deaths, making it the fifth worst-affected country in the world, with a substantially smaller population than the countries ahead of it in the list – Mexico, India, Brazil, and the US. Like other leaders, he faces unenviably tough choices between managing health risks and the ruinous economic damage caused by dealing with them.
Seventeen million people - a quarter of the population of Britain - now face heightened local restrictions, short of a second national lockdown that the government desperately wants to avoid. The premier’s boast of a “world-beating” track and trace system has proved to be little more than the hot air and bluster for which he is notorious. In a rare admission, he conceded on October 4 that it was “not perfect.”
It is not just about tackling the pandemic, but the many other crises it has spawned. In the last week, when students returned to UK university campuses for the new term, corona spread like wildfire and some were told both to self-isolate and warned that they would not be allowed to go home for Christmas. And that was on top of the recent failure to tackle the educational effect of Covid, with a damaging row over how to handle university entrance applications when schools have been suspended for months of lockdown.
And Johnson attracted accusations of “gross incompetence” the other day when he was forced to apologise after misrepresenting the latest rules about social distancing. After admitting that the public would find the government’s instructions “confusing,” he said he was relying on “the great common sense of this country.” And, then, adding insult to injury, just before the news broke about Trump, Boris blamed people for becoming “complacent” about the virus.
The country’s hospitality industry – pubs, bars and restaurants - is furious about a new rule that they have to close at 10pm – leading to a mass exodus of customers who pay little attention to distancing. Boris has also been accused of failing to use the summer lull to prepare for the imminent second wave.
In recent years – certainly since 2015 when the then Conservative prime minister David Cameron made the historic mistake of calling a referendum on the country’s membership of the EU – the UK has been bitterly divided. Boris’s catchy slogan of “get Brexit done” managed to secure an impressive victory in last December’s election. He talked then of having a “great new oven-ready deal”.
But in recent weeks murmurings of Conservative backbenchers have become louder to the extent that one MP was quoted- albeit anonymously - as saying: “He genuinely doesn’t give a flying fuck what the policy is... he’s never done the homework, so he doesn’t know anything. There really is no point in talking to the prime minister about policy at all.”
Normally loyal supporters have turned against him. Fraser Nelson, editor of the Spectator, the conservative magazine, complained about months of “disorder, debacle, rebellion, U-turn and confusion”, and asked: “What’s happened to Boris? Where is the man we thought we voted for?” The magazine cover showed Johnson being tossed about on a raging ocean in a tiny boat without any oars.
Asked whether the shine has come off Johnson’s premiership, one former cabinet minister replied: “If you drop something which is entirely ornamental into a corrosive acid bath, it tends to lose its appeal.”
In March polls showed that 65% of voters surveyed backed the government’s handling of Covid-19, but the latest poll suggested only 30% now approve. In addition only 20% think the government is doing enough to enforce its own lockdown measures.
There are other issues too. Time is running out for the conclusion of a crucial deal on future UK-EU trade relations, including difficult issues like finance, state aid and fishing. “Significant gaps” remain – according to a statement from both London and Brussels. The stakes for Britain are high, and getting higher, by the day. And for Boris too.
IAN BLACK
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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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