Joe Biden and Xi Jinping hold highly anticipated virtual meeting
November 16, 2021, 1:57 am

iden and Xi Jinping

The BBC reported, US President Joe Biden is speaking to his Chinese counterpart Xi Jinping in a highly anticipated virtual meeting.

Mr Xi said that China was "ready to move US-China relations forward in a positive direction".

Both sides began by outlining areas that the two countries needed to talk about. Mr Biden brought up human rights and the Indo Pacific region.

Mr Xi said it was important that both countries respected each other and required a "steady relationship".

He added that he was happy to see his "old friend" Biden.

According to a Reuters report, for his part, Mr Biden said, "Maybe I should start more formally, although you and I have never been that formal with one another."

Joe Biden-USA President-USA/Shutterstock

He added that both men had "always communicated with one another very honestly and candidly", adding "we never walk away wondering what the other man is thinking".

At the meeting, Mr Xi said the two countries needed to improve "communication" and face challenges "together".

He also said healthy China-US relations were needed in order to face global challenges like climate change and Covid-19, Chinese state media said.

The competing nations surprised many last week by issuing a joint declaration to address climate change, at talks in Glasgow, Scotland.

"Humanity lives in a global village, and we face multiple challenges together. China and the U.S. need to increase communication and cooperation." said Mr Xi.

Mr Biden added that they needed to establish some "common sense guardrails".... "to ensure that our competition between our countries does not veer into conflict".

He said: "(W)e believe - and you and I have talked about this - all countries have to play by the same rules of the road, and why the United States is always going to stand up for our interests and values and those of our allies and partners."

Mr Biden's comments appear to be a nod to Taiwan - a point of growing contention between both countries.

Beijing views Taiwan as a breakaway province, but democratic Taiwan sees itself as a sovereign state.

The US has been increasingly vocal about its commitment to defending Taiwan.

Mr Biden said last month that the US would defend Taiwan if China attacked, in an apparent departure from a long-held US foreign policy position of "strategic ambiguity" which has seen Washington being deliberately vague about what it would actually do.

Issues like cybersecurity, trade and nuclear non-proliferation are also subjects on the table.

In a statement released on Friday, the White House said "the two leaders will discuss ways to responsibly manage the competition between the United States and the PRC, as well as ways to work together where our interests align".

This is the third time the two leaders have spoken since Mr Biden's inauguration in January. The meeting is expected to last several hours.

Mr Xi has not left China in nearly two years, since the outbreak of the Covid-19 pandemic.

The China-US relationship is crucial to both sides and the wider world, with Beijing repeatedly having called on the new administration in Washington to improve relations which deteriorated under Mr Biden's predecessor, Donald Trump.

Source: BBC

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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.