Talks with Iran to prevent collapse of nuclear deal will resume in Vienna
November 29, 2021, 4:03 am

Talks with Iran to prevent collapse of nuclear deal will resume in Vienna

Iran map

The BBC reported that critical talks with Iran to prevent the collapse of a nuclear deal are to resume in Vienna after five months.

It said that officials will discuss the possible return of the US to the 2015 accord, which limited Iran's nuclear activities in return for the lifting of sanctions.

It mentioned that Iran has violated key commitments since then-President Donald Trump pulled out in 2018 and reinstated US sanctions.

According to the BBC, Joe Biden is willing to lift them if Iran reverses the breaches. But it wants the US to make the first move.

Joe Biden-USA President-USA/Shutterstock

Western diplomats have warned that time is running out to negotiate a solution because of the significant advances Iran has made in its uranium enrichment programme, which is a possible pathway to a nuclear bomb.

Iran insists that its nuclear programme is entirely peaceful.

The talks between Iran and the five countries still party to what is known formally as the Joint Comprehensive Plan of Action (JCPOA) - China, France, Germany, Russia and the UK - began in the Austrian capital in April, with US representatives participating indirectly.

The Iranian foreign ministry has said they want an "admission of culpability" from the US; the immediate lifting of all US sanctions; and a "guarantee" that no future US president would unilaterally abandon the deal again.

Mr Biden's special envoy for Iran, Robert Malley, has said the US is prepared to take all of the steps necessary to come back into compliance, including lifting the sanctions imposed by the Trump administration that crippled Iran's economy.

But Mr Malley has also warned Iran that the "window for negotiations... will not be open forever".

He said at a briefing last month: "This is not a chronological clock, it's a technological clock. At some point, the JCPOA will have been so eroded because Iran will have made advances that cannot be reversed, in which case we can't be talking - you can't revive a dead corpse."

Source: BBC

France urges Britain to 'take its responsibilities' on migrants South Africa's president condemns travel bans and calling to be urgently lifted

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.