Hurricane Ida sweeps northeast part of US, killing over 40 lives
September 3, 2021, 4:16 am

Hurricane Ida sweeps northeast part of US, killing over 40 lives

flood-storm

The Xinhua reported, Torrential rains, floods and tornadoes from storm Ida remnants claimed more than 40 lives across the northeast of the United States on Wednesday and Thursday.

According to the Xinhua, videos on social media showed Ida remnants dumped rain at sometimes unprecedented rates on Wednesday night in the region, triggering floods pouring into subway stations and submerging homes and vehicles on highways.

The Xinhua said, New Jersey Governor Phil Murphy announced on Thursday afternoon that 23 people died as a result of the storm, which made landfall in southern U.S. state Louisiana as a Category 4 hurricane on Sunday.

Murphy tweeted: "The majority of these deaths were individuals who got caught in their vehicles by flooding and were overtaken by the water."

Mayor Bill de Blasio said, at least 12 people died in New York City.

The Xinhua mentioned, according to an NBC report, citing New York Police Department Commissioner Dermot Shea, among them, four women, three men and a 2-year-old boy died in the basements of residential homes in separate flooding incidents in Queens.

Many commuters were stranded overnight in New York subway stations, some sleeping on benches with service suspended and no way to get to their destinations, according to local media reports.

Central Park at New York City on Wednesday recorded 3.15 inches of rainfall in just one hour, surpassing the previous recorded high of 1.94 inches in one hour during Tropical Storm Henri on Aug. 21.

There were three people reported killed in Pennsylvania, one in Maryland and one in Connecticut. Authorities also located the body of a Virginia resident missing in flooding earlier this week.

In the Philadelphia area, some streets were swamped, delaying the city's rail and bus services and causing thousands of rescues, according to a CNN report, citing state Emergency Management Agency Director Randy Padfield.

New York Governor Kathy Hochul declared a state of emergency early Thursday about an hour after New York City Mayor de Blasio declared one due to what he called a "historic weather event ... with record breaking rain across the city, brutal flooding and dangerous conditions on our roads" as Ida remnants raced up the East Coast.

"There's a lot of damage, and I made clear to the governors that my team at ... FEMA (the Federal Emergency Management Agency) is on the ground and ready to provide all the assistance that is needed," U.S. President Joe Biden said Thursday.

Senate Majority Leader Chuck Schumer Thursday stressed the need to spend more on infrastructure and climate change given the extreme flooding in the New York metropolitan area.

"When you get two record rainfalls in a week, it's not just coincidence. Woe is us if we don't recognize these changes are due to climate change," said Schumer in a press briefing on Thursday morning.

Before moving to slam the U.S. Northeast, Ida had already wrecked widespread havoc in southern U.S. states Louisiana and Mississippi, leaving four people dead and hundreds of thousands of people with power outages.

Ida landed on Sunday, the 16th anniversary of Hurricane Katrina's destructive strike, tying with 2020's Hurricane Laura and the Last Island Hurricane of 1856 as the strongest ever to hit Louisiana. It was downgraded to a tropical depression on Monday afternoon and moved inland with torrential rain.

Source: xinhua

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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.