Merkel party chief voices confidence as leadership contest gains ground
April 12, 2021, 8:53 am

Merkel party chief voices confidence as leadership contest gains ground

A logo of Christian Democratic Union party (CDU) is pictured in Berlin, Germany April 12, 2021. (Reuters)

The head of German Chancellor Angela Merkel’s CDU voiced confidence ahead of a key meeting Monday that the party’s top brass will back him as their chancellor candidate despite a challenge from his Bavarian counterpart.

CDU chief Armin Laschet and Markus Soeder, the head of the smaller Bavarian sister CSU party, both said Sunday they were open to leading the center-right alliance into elections in September.

The CDU’s senior leadership is meeting in Berlin on Monday to discuss the next steps as they look to chart a path towards a post-Merkel era against the backdrop of plummeting public support.

While the top brass is not expected to deliver a final decision on the chancellor candidate immediately, which way it leans would be a key sign of who the alliance would end up picking.

Asked in a TV interview with the Bild daily on Sunday evening if he had the support of the party heavyweights, Laschet replied: “I assume so.”

“I know the views of many regional leaders, some of whom have already spoken publicly,” he said. “But we will see tomorrow. I don’t want to jump to conclusions.”

Long-time Merkel ally Laschet, 60, took over as CDU leader in January, and would normally be first choice to lead the parties into the elections on September 26, when Merkel will retire from politics after 16 years as chancellor.

But public support for the sister parties is tumbling over their recent handling of the coronavirus crisis, and some have called for Laschet to step aside in favor of the more charismatic Soeder, 54.

After months of speculation, Soeder confirmed his interest in being the parties’ chancellor candidate on Sunday -- on the condition that he had the backing of the more powerful CDU.

As leaders of Germany’s biggest federal states by population and area respectively, North-Rhine Westphalia premier Laschet and Bavarian chief Soeder have exchanged blows over their leadership in the pandemic.

Soeder consistently beats Laschet in popularity polls, with a recent survey by public broadcaster ARD showing that 54 percent of Germans thought Soeder would be a good chancellor candidate, compared to just 19 percent for Laschet.

However, German media reported that the CDU leadership will likely come out in favor of Laschet, in order not to destabilize the conservative alliance as a whole.

A final decision expected some time in the next two weeks, according to the reports.

source: AFP

Image source: Reuters

Levant

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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.