Boris Johnson leaves home problems behind and heads to strengthen ties with India on April 21
April 18, 2022, 6:29 am

Boris Johnson leaves home problems behind and heads to strengthen ties with India on April 21

Boris Johnson-UK Prime Minister/Official Facebook page

The Swiss Info reported, British Prime Minister Boris Johnson will seek to put his domestic problems behind him when he visits India this week on a trip to strengthen links between the two countries which have not seen eye to eye over the response to the Ukraine crisis.

Johnson will head to India on Thursday with calls for his resignation ringing in his ears after he was fined for breaking his own COVID-19 lockdown rules by attending a birthday party for him in Downing Street in June 2020.

Parliament returns from its Easter vacation on Tuesday and Johnson has said he would "set the record straight" about gatherings in his office. He had previously told lawmakers there were no parties and guidance was always followed.

In details released late on Saturday, Johnson's office said the British leader would use his trip to India to deepen relations, including in-depth talks with Indian Prime Minister Narendra Mod on the two nations' "strategic defence, diplomatic and economic partnership".

During his scheduled visit to India on Thursday, April 21, Boris Johnson will seek to strengthen ties between the two countries that have not shown eye to eye in response to the Ukraine crisis (Photo: Indian Prime Minister official Facebook page)

He will also push for progress in talks on a free trade deal, which Britain is hoping to strike as part of its post-Brexit strategy. His office said such a trade deal was predicted to boost Britain's total trade by up to 28 billion pounds ($36.5 billion) annually by 2035.

But the visit will be overshadowed in part by disagreement over the Ukraine conflict.

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Western allies have called for India, which imports arms from Russia, to condemn Russian President Vladimir Putin in stronger terms, and U.S. President Joe Biden earlier this week told Modi that buying more oil from Russia was not in India's interest.

British trade minister Anne-Marie Trevelyan also said last month Britain was very disappointed with India's stance. However, Johnson's office made no direct reference to the conflict, although a source said it was expected Ukraine would be discussed "among other geopolitical issues".

Johnson said India, as a major economic power, was a highly valued strategic partner.

He said in a statement: "As we face threats to our peace and prosperity from autocratic states, it is vital that democracies and friends stick together." Last year, he was forced to cancel a planned trip to India because of the coronavirus pandemic.

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Last May, the two countries announced a partnership involving more than 530 million pounds of Indian investment into Britain, and Downing Street said Johnson was expected to announce further major investment and new collaboration on cutting-edge science, health and technology.

Source: swissinfo

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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.