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Foreign Office defends Raab remarks on trade with rights abusers

Foreign secretary has said deals should not be limited to countries with European-level standards of rights
Dominic Raab has tried to fend off claims he told Foreign Office staff the UK intended to trade with countries with poor human rights records.
In a leaked recording of a briefing by the foreign secretary, passed to HuffPost, he reportedly said: “I squarely believe we ought to be trading liberally around the world. If we restrict it to countries with European convention on human rights-level standards of human rights, we’re not going to do many trade deals with the growth markets of the future.”
The Foreign Office said it was a partial account of fuller remarks in which he also said: “We don’t junk whole relationships because we’ve got issues – we have a conversation because we want to change the behaviour. And I think we’re in a much better position to do that if we’re willing to engage.
“I can think of behaviour that would cross the line and render a country beyond the pale. But fundamentally I’m a big believer in engaging to try and exert positive influence, even if it’s only a moderating influence, and I hope that calibrated approach gives you a sense that it’s not just words – we back it up with action.”
Raab is due to give a speech to a US audience by video link on Wednesday in which he will claim democracy worldwide is in retreat in the face of authoritarianism.
On Tuesday Boris Johnson was criticised by some Tory MPs for emphasising that the UK would seek to improve its trade and investment links with China while at the same time criticising its record on human rights.
Emily Thornberry, the shadow international trade secretary, described Raab’s remarks as an abomination of British values, and claimed the mask had slipped. She said: “Just weeks ago Dominic Raab told
“No wonder the government are talking up the prospects of deeper trade links with China in their integrated review and blocking the genocide amendment to the trade bill. This is the true face of the Tory government.”
The shadow foreign secretary, Lisa Nandy, said: “Secretly talking up the prospects of trade deals with countries with appalling human rights completely undermines this government’s public commitments. If the foreign secretary genuinely believes the UK should be a force for good in the world, he should start by ruling out trade deals with countries guilty of genocide or other severe human rights abuses.”
The trade bill returns to the Commons next week where it is expected ministers will for a third time overturn attempts to give judicial figures a right to declare if a genocide is under way in another country, leading to possible trade restrictions.
It is noticeable that the UK has imposed no sanctions on any Chinese official even though it has said three times that China is in breach of the Sino-British declaration on Hong Kong by introducing repressive security laws. On Tuesday the US imposed sanctions on 24 more Chinese officials it deems to be in breach of the declaration, leaving the UK in the position of doing less in terms of sanctions to uphold its agreement than the US.
One argument is that the UK’s smaller economy would make British business much more vulnerable to Chinese reprisals than US firms.
The EU is said to be preparing sanctions over the treatment of the Uighur minority in Xinjiang province, although it takes longer for the EU to secure unanimity among its 27 states than it does from the UK to secure cross-Whitehall consensus.
On Monday the Chinese ambassador to the EU urged the bloc not to interfere in its national security affairs, saying any sanctions over human rights abuses – based on what it called “lies” – could fuel confrontation.
source: Patrick Wintour
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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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