Joe Biden, his wife head to storm-hit Puerto Rico
October 3, 2022, 7:00 pm

Joe Biden, his wife head to storm-hit Puerto Rico

First Lady of Ukraine Olena Zelenska embodies the same tenacity and resilience as the country she hails from. It was an honor for Jill and me to welcome her to the White House this afternoon - US President Joe Biden

President Joe Biden and First Lady Jill Biden head to storm-ravaged Puerto Rico on Monday (October 3), in a bid to show solidarity with a US territory whose people have complained of neglect after past natural disasters.

The high-profile trip will be the first of two this week for the Bidens, who head on Wednesday to Florida to assess the devastating damage caused by Hurricane Ian.

Both Puerto Rico and Florida suffered numerous deaths, widespread power outages, dangerous flooding and grievous property damage from the recent hurricanes of rare intensity -- first Fiona, then Ian.

No details of the Bidens' trip have been announced, though visits to disaster zones are a customary duty of presidents.

But on Saturday, the president told a Congressional Black Caucus dinner that "our hearts... are heavy from the devastating hurricanes and storms in Puerto Rico, Florida and South Carolina. And we owe Puerto Rico a hell of a lot more than they've already gotten."

Twenty-five people are believed to have died in Puerto Rico as a result of Hurricane Fiona, according to the island's public health department, which is still investigating how 12 of the fatalities occurred.

The entire US territory lost power and about one million people were left temporarily without drinking water, when Fiona -- then a powerful Category 4 storm -- hammered the island in mid-September.

Biden declared a state of emergency for Puerto Rico on September 18.

Cuban migrant boat sinks off Florida due to Hurricane Ian; 20 missing

Island residents -- all US citizens -- have complained of being overlooked by Washington after previous disasters, including the devastating hit from twin hurricanes, Irma and Maria, in 2017.

Florida, where Hurricane Ian roared on land Wednesday as a Category 4 storm, is still struggling to assess the extensive damage, particularly on its southwest coast.

The confirmed death toll from Ian, one of the most powerful storms ever to hit the US mainland, has soared to at least 58 in Florida and four in North Carolina with rescuers still searching for survivors in submerged neighborhoods.

Florida Gulf Coast braces for Hurricane Ian, millions urged to evacuate

More than 700,000 Floridians remained without power Sunday, according to the PowerOutage.us website, and officials said it could take months -- and perhaps $50 billion or more -- to rebuild devastated coastal zones.

Governments -- federal, state and local -- are often judged by the effectiveness of their response to such disasters.

After Hurricane Katrina devastated New Orleans and the Gulf coast, critics castigated then-president George W. Bush after photos showed him surveying damage while flying high overhead.

And after then-president Donald Trump, on a visit to Puerto Rico after the earlier storms there, took a basketball-style shot to distribute rolls of paper towels, the mayor of capital city San Juan called it "insulting" and "abominable."

Source: france24

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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.