Countdown begins as UAE’s Hope probe nears Mars in first Arab interplanetary mission
February 2, 2021, 10:45 am

Countdown begins as UAE’s Hope probe nears Mars in first Arab interplanetary mission

The UAE's Hope Probe before launching from Japan's Tanegashima Space Center. (Twitter)

The United Arab Emirates’ Hope probe is only one week away from arriving to Mars’ orbit, making it the first-ever Arab interplanetary mission.

The probe is expected to arrive on Mars on February 9 at 7:42 p.m. local UAE time, according to Emirates News Agency (WAM).

The unmanned spacecraft will explore Mars’ climactic dynamics in daily, and seasonal timescales for a full Martian year – which equates to 687 earth days. The mission has never been completed previously, WAM said.

The mission will make the UAE the fifth country in the world to reach the planet after the United States, the Soviet Union, China, the European Space Agency and India, WAM reported.

The country’s leaders invited the citizens and residents of the UAE, and Arabs around the world to celebrate the historic mission that represents the region’s breakthrough in space exploration.

“We are 9 days away from the arrival of UAE’s Hope probe to Mars in the first Arab interplanetary mission. The UAE will be the 5th nation to reach the Red Planet. The probe has a 50 percent success rate in entering Mars’ orbit, but we achieved 90 percent of our goals in building new knowledge,” Sheikh Mohammed bin Rashid said on Monday.

Sheikh Mohamed bin Zayed Al Nahyan shared a video of the probe’s historic journey and said, “The Hope Probe is nearing Mars. Congratulations to everyone on the occasion of the historic Emirati Mission to Mars.”

“The UAE’s arrival to Mars was the dream of the late UAE founder Sheikh Zayed bin Sultan Al Nahyan. Our investment in the human capital proved worthwhile as we see our youth capable of reaching the stars,” the Crown Prince said.

The probe’s complex maneuver next week will be the most critical part of the mission as the spacecraft will have to swiftly reduce its speed from 121,000km/h to 18,000km/h to enter Mars’ orbit.

After completing the seven-month journey, the probe will provide the first-ever complete picture of the Martian atmosphere.

The Hope probe took off from Tanegashima Island in Japan on July 20, 2020, traveling a 493 million kilometer distance to reach the planet.

source: Tamara Abueish

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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.