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Joe Biden meets with G7 allies, addresses American people on response to Russia

The Arab News reported, citing media outlets, US President Joe Biden met with G7 allies Thursday to hammer out a raft of new sanctions against Russia after it invaded Ukraine, and will later speak to the American people on a crisis that he warns will cause “catastrophic loss of life.”
A White House official said, the virtual, closed-door meeting of G7 leaders — Britain, Canada, France, Germany, Italy, Japan and the United States — started at 9:17 a.m. (1417 GMT).
The official said: “President Biden and leaders are discussing their joint response to President Putin’s unprovoked and unjustified attack on Ukraine."
Before the G7 gathering, Biden first huddled with his National Security Council in the Situation Room, the White House said. His speech to the nation was scheduled for 12:30 p.m. (1730 GMT).
For weeks, as Russia built up tens of thousands of troops and heavy weapons on Ukraine’s border, Biden has led NATO and other European allies in trying to craft a package of what Washington says are “unprecedented” sanctions as a deterrent.
Now that the deterrent has failed, the effort is likely to see rapid escalation to inflict real pain on Russia’s already shaky economy.
President Zelenskyy reached out to me tonight and we just finished speaking. I condemned this unprovoked and unjustified attack by Russian military forces. I briefed him on the steps we are taking to rally international condemnation, including tonight at the UN Security Council.
— President Biden (@POTUS) February 24, 2022
“The United States and its allies and partners will respond in a united and decisive way. The world will hold Russia accountable,” Biden said in his first comments late Wednesday in Washington, after Russian missiles began to rain down on Ukraine.
Biden also held a phone call with his Ukrainian counterpart Volodymyr Zelensky, saying afterwards that he had promised to “provide support and assistance to Ukraine and the Ukrainian people.”
The US president noted that Zelensky had requested him to “call on the leaders of the world to speak out clearly” against Putin’s “flagrant aggression.”
On Tuesday, after Putin first announced he would send troops as “peacekeepers” to two small areas already controlled by Moscow-backed separatists, Western countries swung into action with a first round of sanctions.
The US government joined European allies in imposing sanctions on two Russian banks, Moscow’s sovereign debt, several oligarchs and other measures.
And on Wednesday, as the Russian invasion force became clearly primed to attack, Biden announced he was imposing sanctions on the Nord Stream 2 natural gas pipeline from Russia to Germany — one of energy-rich Moscow’s highest-profile geopolitical projects.

Germany had earlier announced it would block the pipeline from opening for deliveries.
NATO, set to hold an emergency summit on Friday, on Thursday said it was bolstering its troop presence on its eastern flank and putting hundreds of warplanes and ships on alert.
NATO chief Jens Stoltenberg said: “Make no mistake: We will defend every ally against any attack on every inch of NATO territory."
Boris Johnson condemns unprovoked Russian attack on Ukraine
European Commission President Ursula von der Leyen and Stoltenberg both called the invasion a “barbaric” attack on an independent nation that threatened “the stability in Europe and the whole of the international peace order.” The EU scheduled an emergency summit in Brussels.
But no one promised to move in militarily and defend Ukraine at the risk of touching off a bigger European war. Ukraine is not a NATO member, and the US and its Western allies have said for weeks that they would not send troops into the country.
Now, US officials are teeing up tougher new sanctions that could include targeting bigger banks, more oligarchs close to Putin and, crucially, a ban on exports to Russia of high-tech equipment and components. It was not clear how many of these measures would be announced Thursday.
Ukraine closes airspace to civilian flights because of 'high risk' to safety
Germany’s vice chancellor, Robert Habeck, signalled Thursday there’d be a “strong sanctions package” that will “cut off the Russian economy from industrial progress, will attack and freeze assets and financial holdings, and will dramatically limit access to the European and American markets.”
“No Russian financial institution is safe,” State Department spokesman Ned Price said Wednesday, hours before the invasion was launched.
Meanwhile, Prime Minister Boris Johnson said Britain and its allies would unleash a massive package of economic sanctions to hobble the Russian economy.
Johnson said in a televised address to the nation: “Today, in concert with our allies, we will agree a massive package of economic sanctions designed in time to hobble the Russian economy."
Joe Biden sanctions Russia for 'beginning' an invasion of Ukraine
He said the West must end its reliance on Russian oil and gas which had given Putin a grip over Western politics.
“Our mission is clear: diplomatically, politically, economically, and eventually military, this hideous and barbaric venture of Vladimir Putin must end in failure.”
He told Russians he did not believe the invasion was being carried out in their name, while he vowed to support Ukraine until the flame of freedom “burns bright again.”
He said: “I don’t believe that the Russian dictator will ever subdue the national feeling of the Ukrainians and their passionate belief that their country should be free."
“I say to the British people, and all who have heard the threats from Putin against those who stand with Ukraine: We will of course, do everything to keep our country safe.”
Ukraine declares state of emergency, urges its citizens to leave Russia
In earlier comments on Twitter, the British leader called the invasion a “catastrophe” for Europe, and said he would talk to other G7 group of rich nations.
He said: “I will also speak to fellow G7 leaders and I am calling for an urgent meeting of all NATO leaders as soon as possible."
Foreign minister Liz Truss said she had summoned the Russian ambassador to explain Moscow’s actions in Ukraine.
Source: arabnews
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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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