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New German Chancellor pledges support for stronger Europe during first trip abroad

The Xinhua reported, after a long day of discussions in Paris and Brussels on Friday, new German Chancellor Olaf Scholz said his country is ready to work closely with the European Union (EU) and other member states to make Europe "strong and sovereign."
It said that Scholz, who was sworn in on Wednesday as the successor of Angela Merkel, followed in his predecessor's footsteps in making France the first stop during his first-ever trip abroad as chancellor.
During his meeting with French President Emmanuel Macron, Scholz pledged to work with France on the major challenges confronting the EU. The two leaders discussed the future of the EU with regard to immigration, new sources of energy, border protection and relations with third countries.
Macron told a press conference after the meeting that he had seen "a convergence of views, a desire to have our countries work together, and a firm and determined belief in Europe, which I knew already, which we will need in the months and years ahead."

Scholz said their talks focused on "making Europe strong and sovereign" in terms of economy, security, and foreign policy. He said: "What is important there is that we work together."
The meeting took place a day after Macron had laid out the agenda for a "Europe that is powerful in the world" during France's turn as the rotating president of the 27-member Council of the European Union in the first half of 2022.
STRONGER EUROPE, MULTIPOLAR WORLD
Then the chancellor arrived in Brussels, where he met with European Commission President Ursula von der Leyen, European Council President Charles Michel and NATO Secretary-General Jens Stoltenberg.
At a joint press conference with von der Leyen, Scholz emphasized the importance of strengthening the EU's security and defense policy. He also spoke about his vision of a "strong, sovereign European Union" that will be able to respond to foreign policy challenges in a coordinated way. He stressed: "Any threat against any EU country will not be tolerated."
Scholz leads a coalition of his Social Democratic Party (SPD), the Free Democratic Party (FDP) and the Greens. The German government works together in a united way, he said, adding, "All three parties are pro-European."
The chancellor said, Germany, as one of the strongest economies in the EU, bears the responsibility to take the role to ensure progress and a bright future in Europe.
Read more: UK PM’s press chief Jack Doyle was at No 10 party last year
Von der Leyen, a German politician herself, said Germany played an important role in shaping the EU. "The European Commission is ready for intensive cooperation with the new German government," she said, highlighting the fight against the fourth wave of the COVID-19 pandemic, climate action in the framework of the European Green Deal, and large-scale digitalization as key areas for cooperation between the European Commission and Germany.
At another press conference with European Council President Charles Michel, Scholz stressed that the EU should live peacefully with other countries when it seeks strategic sovereignty in the multipolar world of today.
He said, the world will not be bipolar as some people speculate, but a multipolar one with "many powers," including the United States, Russia, China, Japan, India as well as many other rising economies.
The former German finance minister and vice-chancellor in the Merkel government won 395 of the 707 votes cast in the Bundestag lower house on Wednesday, and pledged broad "continuity" with Merkel's policies while striving to make Germany greener and fairer.
Source: xinhua
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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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