In Brazil, newly freed Lula sets up clash with Bolsonaro’s right-wing
November 10, 2019, 10:28 am

In Brazil, newly freed Lula sets up clash with Bolsonaro’s right-wing

Ex-Brazilian president waves at supporters outside the metalworkers’ union building in Sao Paulo, Brazil, on November 9, 2019. (AFP)

Brazil’s former leader Luiz Inacio Lula da Silva on Saturday attacked right-wing President Jair Bolsonaro for impoverishing working Brazilians and vowed to unite the left to win the 2022 elections in a speech one day after being freed from jail.

Lula’s wide-ranging, 45-minute speech to cheering supporters focused broadly on defeating Bolsonaro and improving the economic conditions of the working class, although he diverged frequently to talk about everything from his fiancé to solidarity with leftist governments in Bolivia and Venezuela.

Lula, who was president from 2003 to 2010, also took aim at a long list of political enemies, including Bolsonaro, Economy Minister Paulo Guedes and Justice Minister Sergio Moro, a former judge who initially ruled to convict Lula.

“I want to tell them, I’m back,” the 74-year-old told hundreds of supporters dressed in red, the color of his Workers Party, outside of the metalworkers union where he got his political start.

He said Guedes seeks to remake Brazil economically in the image of Chile, long seen as a model of financially conservative governance, but that those policies are the reason for the widespread street protests paralyzing its Latin American neighbor.

A judge ordered that Lula be freed on Friday, a day after Brazil’s Supreme Court issued a broader ruling ending the mandatory imprisonment of convicted criminals after they lose their first appeal. Lula had been imprisoned on a corruption conviction carrying a nearly nine-year sentence.

Bolsonaro told reporters in Brasilia, “Let’s not give space to compromise with a convict.”

Earlier on Twitter, the president called for supporters to rally around his government’s agenda, which has included a severe tightening of public spending, saying that they must not allow Brazil’s next phase of recovery to be derailed.

“Do not give ammunition to the scoundrel, who is momentarily free but full of guilt,” Bolsonaro said.

While Bolsonaro did not mention Lula by name, his left-wing rival took direct aim at the president.

“If we work hard, in 2022 the so-called left that Bolsonaro is so afraid of will defeat the ultra-right,” he said.

Lula, who left the presidency with sky-high approval ratings, is ineligible to stand for office until 2025 under Brazil’s “Clean Record” law because of a conviction for taking bribes. But his release is expected to energize the left ahead of next year’s municipal elections.

He was imprisoned in 2018 after being found guilty of receiving bribes from construction companies in return for public contracts.

Lula has maintained his innocence. On Saturday he repeated that Justice Minister Moro, prosecutors and police were lying about his guilt for political reasons.

“(I’m) not responding to criminals, jailed or freed. Some people deserve to be ignored,” Moro responded on Twitter.

source:Reuters

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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.