Sadiq Khan pledges to explore new London Olympic bid if re-elected
May 4, 2021, 10:05 am

Sadiq Khan pledges to explore new London Olympic bid if re-elected

The opening ceremony of the London 2012 Olympics.

Mayor will say city could look at bidding for 2036 or 2040 Games as post-Covid morale boost for nation

Sadiq Khan is pledging to look at bringing the Olympics back to London within 20 years if he is re-elected as mayor on Thursday.

In a speech at an amateur boxing club in Earlsfield, south-west London, on Tuesday, Khan will set out the prospect of another London Olympics as a post-Covid morale boost that he argues would extend beyond the capital.

The Labour mayor is due to say: “Exploring a bid for the 2036 or 2040 Olympic and Paralympic Games is the ultimate demonstration of my plan to build a brighter future for London after the pandemic.”

The move, which has been backed by a leading business group and former Olympic medallists, aims to rekindle memories of the successful 2012 Games, an event that significantly boosted the profile of Khan’s predecessor Boris Johnson.

Khan will use the prime minister’s rhetoric about economic “levelling up” to justify the move. “By ensuring the Games are staged across the UK and visitors encouraged and supported to explore every corner of our country, London 2036 or 2040 could be a huge boost to levelling up our cities and regions,” he is due to say.

Khan will add: “The spirit of 2012 showed London and Londoners at their best. It was a time that displayed the inclusive, diverse and welcoming heart of our city. As we emerge from Covid-19, we need to harbour this spirit and remind people what makes London the greatest city in the world. Bringing the Olympics back to London would do exactly that.”

Any London Olympic bid would be likely to face stiff competition from other cities and would require full government backing to stand any chance of success. If London was chosen it would become the first city to host the summer Games on four occasions, having hosted in 1908, 1948 as well as 2012.

Khan’s office said sustainability would be a key feature of any bid, offering to recycle existing sporting facilities including the 2012 venues.

Last February, before the pandemic struck the UK, Shaun Bailey, the Conservative candidate for mayor, suggested London could step in to host the 2020 Games if coronavirus forced a cancellation in Japan. Instead the Tokyo Olympics were postponed to this summer, though there are continuing doubts about whether spectators will be allowed to attend.

John Dickie, the interim chief executive of the business group London First, said: “The 2012 Olympics and Paralympic Games were a fantastic moment for London and a huge boost to the city’s global reputation. As the infrastructure to host these incredible events remains in place, bringing them back to the capital in 2036 or 2040 would be brilliant for London and its businesses.”

Richard Whitehead, who won gold in the T42 200m at the 2012 and 2016 Paralympics, said the whole country needed a boost. “Bringing the Olympic and Paralympic Games back to London would do just that, making the opportunity to compete at the top level in front of a home crowd a dream within reach for young Brits.”

Amir Khan, who won a boxing medal aged 17 at the 2004 Athens Games, said: “The Olympics helped to launch my career as a professional boxer, giving a working-class kid from Bolton the opportunities to compete in front of global audiences and fulfil his potential.” He said he would “love to see another young British talent follow in my footsteps and go one better by winning gold on home turf”.

source: Matthew Weaver

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.