Northern Ireland's DUP elects hardliner Poots as new leader
May 15, 2021, 10:52 am

Northern Ireland's DUP elects hardliner Poots as new leader

Northern Ireland's agriculture minister Edwin Poots walks outside the Democratic Unionist Party (DUP) headquarters during a vote to replace former First Minister Arlene Foster in Belfast, Northern Ireland, Britain, May 14, 2021. REUTERS/Clodagh Kilcoyne

Northern Ireland's agriculture minister Edwin Poots walks outside the Democratic Unionist Party (DUP) headquarters during a vote to replace former First Minister Arlene Foster in Belfast, Northern Ireland, Britain, May 14, 2021. REUTERS/Clodagh Kilcoyne

Reuters

The new leader of DUP pledged to unite the bickering strands of unionism to fight the Brexit deal and lay the foundations for keeping the province in the UK.

Edwin Poots was narrowly elected leader of the region’s largest party yesterday. He is seen by some commentators as more aggressive in his opposition to Northern Ireland’s post-Brexit trade barriers and more conservative on social issues than his opponent, Jeffrey Donaldson.

Northern Ireland’s agriculture minister takes over at a time of instability in the UK province and unionist anger over the post-Brexit Northern Ireland protocol that installed a customs border with the rest of the UK.

Poots, a young Earth creationist who rejects the theory of evolution, said after being elected: "The Northern Ireland protocol has proven to be a massive challenge for us and if we are to fight this, then it is for us to do that together."

“This party has been the authentic voice of unionism and will continue to be the authentic voice of unionism under my leadership.”

The protocol leaves Northern Ireland within the EU’s trading sphere, avoiding a hard border on the island with EU-member Ireland but irritating pro-British unionists by undermining the region’s place in the UK.

It was partly blamed for recent rioting by young pro-British loyalists. A legal challenge against the arrangements partly launched by the DUP began on Friday.

British and EU negotiators have told they will try in the coming weeks to smooth the disruption to trade in everyday goods such as cheese originating in Britain. The DUP wants the protocol scrapped altogether.

“It’s all a bit of a fantasy contest in terms of the protocol really because it’s not in the DUP’s gift to get rid of it,” said University of Liverpool politics professor Jon Tonge, describing the election as the DUP “reconnecting with its past".

Poots has said he plans to nominate another party member to replace Arlene Foster as Northern Ireland’s first minister and split the roles of party and devolved government leade

He is one of a number of DUP ministers who have protested against the Brexit arrangements by refusing to attend meetings with Irish counterparts established under the 1998 peace deal that ended 30 years of violence in Northern Ireland.

#Reuters

Top medic says Indian coronavirus variant will be dominant in the UK The Iranian regime is taking advantage of Palestinian issue to advance its own agenda in Middle East!

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.