Trump to host Turkish leader as he considers invading Syria
October 8, 2019, 3:30 pm

Trump to host Turkish leader as he considers invading Syria

Turkish President Recep Tayyip Erdogan will meet with President Trump at the White House on November 13. (File photo AFP)

A day after threatening Turkey with economic ruin if it goes too far in invading northern Syria, President Donald Trump said on Tuesday that he and Turkish President Recep Tayyip Erdogan will meet at the White House on November 13.

The announcement came one day after Trump publicly warned Turkey it would be in “big trouble” if any American troops in Syria are injured during a military operation Turkey is preparing to launch against Kurdish fighters who had been allied with the United States against ISIS militants.

The White House earlier this week announced plans to move US troops out of harm’s way in northern Syria because it seemed that Turkey was intent on moving into Syria to confront Kurdish fighters that it claims are terrorists that threaten its national security.

The decision was roundly criticized by some of the president’s staunchest Republican allies in Congress, and Democrats who said Trump’s decision to move the US troops cleared the way for a Turkish invasion and risks the release thousands of ISIS fighters and their families detained in Syria.

RELATED: Turkey preparations for Syria offensive ‘completed’

Trump on Monday defended the decision, saying he was fulfilling a campaign promise to withdraw from “endless war” in the Middle East, and he warned Turkey that he would ruin its economy if any American personnel are harmed.

On Tuesday, Trump sent a series of tweets that stirred confusion about the US-Turkey relationship. He sent tweets defending Ankara as a big trading partner of the US, supplier of steel for F-35 fighter jets.

“We may be in the process of leaving Syria, but in no way have we Abandoned the Kurds, who are special people and wonderful fighters,” Trump said. “Likewise our relationship with Turkey, a NATO and Trading partner, has been very good.”

“Turkey already has a large Kurdish population and fully understands that while we only had 50 soldiers remaining in that section of Syria, and they have been removed, any unforced or unnecessary fighting by Turkey will be devastating to their economy and to their very fragile currency. We are helping the Kurds financially/weapons!”

Trump said he would welcome Erdogan to the White House on Nov. 13.

On Monday, two senior State Department officials made a point of noting that while the Turks had highlighted the invitation in their readout of the call, the previous night’s White House statement had not included any reference to an Erdogan visit to Washington.

They said the Turkish readout was not incorrect but suggested that the omission of the trip from the White House statement was an indication of Trump’s unhappiness with Erdogan’s plans for an operation against the Kurds.

Turkey’s vice president says his country won’t bow to threats in an apparent response to Trump’s warning to Ankara about the scope of its planned military incursion into Syria.

Fuat Oktay said in a speech on Tuesday that Turkey is intent on combatting Syrian Kurdish fighters across its border in Syria and on creating a zone that would allow Turkey to resettle Syrian refugees there.

Oktay said: “Where Turkey’s security is concerned, we determine our own path but we set our own limits.”

Russia warns against actions that ‘inhibit peace process’ in Syria Kurdish-led forces issue call to arms, calling for Turkish border resistance

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.