Magnolia species lost to science for 97 years rediscovered in Haiti
August 4, 2022, 11:24 am

Magnolia species lost to science for 97 years rediscovered in Haiti

The magnolia family is one of the oldest trees in existence - Photo. Pixabay

A conservation team has rediscovered a native magnolia tree in a forest in Haiti for the first time since it was lost to science in 1925, The Guardian reported.

Boasting pure white flowers and uniquely shaped leaves, the northern Haiti magnolia (Magnolia emarginata) was found originally in the forest of Morne Colombo, which has since been destroyed by deforestation.

It was considered endangered and featured on the International Union for Conservation of Nature’s red list of threatened species, and its discovery has sparked new hope for the potential rewilding of Haiti’s forests.

As a result of the rapid decline of forest space – only 1% of the country’s original forest remains – many native plants now only grow in inaccessible mountains or ravines.

Suspecting that the magnolia could survive in elevated habitats, a team from the Haiti National Trust travelled to Massif du Nord, Haiti’s longest mountain range, in search of the elusive plant.

Magnolia plants can be evergreen or deciduous and bear alternate smooth-margined leaves - Text. Britannica - Photo. Pixabay

On the third day of the expedition, the team spotted one tree and took the first photos ever captured of the plant. They soon discovered 16 flowering trees in various stages of development, along with juvenile plants in the early phases of growth.

These discoveries, they say, suggest that even more of the species could be found in the area. Once they had identified the trees, they collected samples for DNA analysis and plan to return in late autumn to collect seeds.

Brazil sets new six-month Amazon deforestation record

The Haiti National Trust has successfully cultivated four other native magnolia types across the island of Hispaniola, which also includes the Dominican Republic.

They hope to use their experience to help local communities contribute to restoration efforts and eventually start a nursery.

Eladio Fernández, communications director for the Haiti National Trust and leader of the expedition, shared the optimism that the discovery of this once-lost species has ignited.

Study says science offers basis for national climate damage claims

He said: “Despite the bleak state of the country’s degraded forests, it still harbours species like this that are found nowhere else in the world, giving us the opportunity to save them.”

Source: theguardian

England’s Euro 2022 winners urge next UK PM to support girls’ football China kicks off massive military drills around Taiwan

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.