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Virus mars Easter holidays as death toll nears 100,000

Hundreds of millions of people around the world will spend the Easter holiday at home as lockdown measures intensify to combat the coronavirus, a pandemic with a global death toll rapidly approaching 100,000.
Governments have forced businesses to close and limited the movement of half the world's population, halting economic activity and prompting the International Monetary Fund (IMF) to warn that the world faces its worst downturn since the Great Depression of the 1930s.
Some 17 million Americans have so far lost their jobs, prompting the US government to launch a $2.3 trillion rescue package, while the European Union late Thursday struck a 500-billion euro deal to help hard-hit member states.
The United States is now emerging as the global hotspot of the virus. More than 1,700 people died on Thursday from almost 500,000 cases, the second-highest death toll of any country and the largest number of cases anywhere in the world.
Hundreds of deaths across Europe on Thursday helped to drive the confirmed global toll above 94,000 with nearly half of the deaths reported in the past week.
However, spirits were lifted in Britain as Prime Minister Boris Johnson -- among the world's most high-profile virus sufferers -- was moved to a normal hospital ward after three days in intensive care.
And across Europe and the United States, officials sought solace in slightly improving figures.
Spain, the third hardest-hit country, saw its lowest day toll in 17 days, and Prime Minister Pedro Sanchez said Thursday the "fire started by the pandemic is starting to come under control".
France also reported that fewer people were in intensive care for COVID-19, the first fall since the pandemic broke out.
Anthony Fauci, the US government's top pandemic expert, said the United States was "going in the right direction" after a slight drop in the US daily death rate from Wednesday's record toll of 1,973.
In New York, the epicenter of the virus in the United States, the rate of hospital admissions fell on Thursday and state Governor Andrew Cuomo said the actions taken in the state were "flattening the curve", referring to attempts to keep the death rate from spiking.
Easter pilgrimage sites across the Middle East, Europe, and Asia stood empty on Friday, shorn of the customary Easter holiday hustle.
Even such hallowed traditions as the pope's Easter message are being revamped -- Pope Francis will live-stream from the seclusion of his private library.
"We have to respond to our confinement with all our creativity," said the pontiff. "We can either get depressed and alienated... or we can get creative."
The travel industry is one of the hardest-hit sectors but the fallout is shaking every corner of the financial world.
The IMF, which has $1 trillion in lending capacity, said it was responding to calls from 90 countries for emergency financing.
"We anticipate the worst economic fallout since the Great Depression," said IMF chief Kristalina Georgieva, urging governments to provide lifelines to businesses and households.
EU finance ministers agreed the 500 billion-euro ($550 billion) rescue package after late-night talks on Thursday, aiming to reduce the pain across the 27-nation bloc, especially in Italy and Spain.
"Europe has decided and is ready to meet the gravity of the crisis," French Finance Minister Bruno Le Maire tweeted.
The US Federal Reserve also threw a lifeline to Americans, with chairman Jerome Powell announcing a $2.3 trillion financing measure "to provide as much relief and stability as we can during this period of constrained economic activity".
And major oil producers except Mexico agreed to cut output after a dramatic slump in demand caused by the virus, exacerbated by a Saudi-Russia price war, sent prices crashing to a near two-decade low.
Despite hopeful signs in Western nations and China, where the virus was first detected late last year, there are fears the worst is still to come in much of the developing world.
War-torn Yemen, which has been experiencing one of the world's most acute humanitarian crises, on Friday reported its first case.
Brazilian authorities confirmed the first deaths in the slums of Rio de Janeiro, where overcrowding and poor sanitation have raised fears of a catastrophe.
There are similar fears in India, where hundreds of millions of poor people are becoming increasingly desperate.
"I keep hearing that the government will do this and that. No one has even come to see if we are alive or dead," Rajni Devi, a mother of three, told AFP in a slum on the outskirts of New Delhi.
Several governments in Asia have been accused of slow responses to the crisis -- Indonesia, which has the worst figures on the continent outside of China, moved on Friday to stiffen its containment measures.
Soldiers and police hit the streets of the capital Jakarta to enforce new bans on gatherings, with transgressors facing up to a year in jail.
UN Secretary-General Antonio Guterres moved to shore up international resolve on Thursday, opening a Security Council session by calling the pandemic "the fight of a generation -- and the raison d'etre of the United Nations".
Guterres appealed for a global halt to conflicts to concentrate on the COVID-19 fight.
Saudi Arabia embraced the call by announcing a pause in its brutal offensive against rebels who control much of Yemen.
source: AFP
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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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