Northeastern China cities start to tighten COVID-19 measures due to an outbreak
October 28, 2021, 4:34 am

Northeastern China cities start to tighten COVID-19 measures due to an outbreak

China-Skyscrapers-Public place/Pixabay

The Channel News Asia reported according to Reuters, a few border cities in northeastern China started to tighten COVID-19 measures, restricting travel and limiting gatherings in public spaces, and some declared a "pre-war" mode of vigilance and monitoring, as China combats an outbreak hitting mainly the north.

China reported 23 locally transmitted symptomatic cases for Wednesday, official data showed on Thursday (Oct 28), down from 50 a day earlier, bringing the total number to 270 since Oct 17, when the current outbreak began.

Although the tally is tiny versus many clusters outside China, the spread to over a dozen provincial areas and a zero-tolerance policy have forced local officials to toughen restrictions, again squeezing the service sector including tourism and catering companies in a slowing economy.

In northeastern Heilongjiang province, which shares a border with Russia, Heihe city detected one local confirmed case, plus three asymptomatic cases, which China counts separately from patients with confirmed symptoms, for Oct 27.

The city of 1.3 million demanded the suspension of manufacturing activities and business operations in urban areas, except for essential ones.

It banned people and vehicles in those urban areas from leaving and suspended entry into the areas for non-essential reasons via public roads, while halting bus and taxi services.

Flights from the city and some train services were cut, local media said on Wednesday.

It remains unclear how the Heihe cluster started, or whether any of the infected were linked to outbreaks in other regions.

EXTREME CAUTION

China's high vaccination rate would in principle allow it to shift to a less disruptive endemic strategy, said Julian Evans-Pritchard, senior China economist at Capital Economics.

As of Oct 23, 76 per cent of China's 1.41 billion population have received complete doses.

"But extreme caution prevails," he said. "Any shift seems unlikely until at least after the Winter Olympics in February."

Jiamusi city, also on the Heilongjiang-Russia border, has yet to report local cases in the latest outbreak, but said it will be on alert for a week until Nov 3.

It required tourist sites to bar tourists from outside of Jiamusi, demanded reduction in gatherings and halted visits to elderly homes and mental health facilities.

Another two cities in Heilongjiang, Jixi and Mudanjiang, pledged to enter into a "pre-war" mode of high vigilance and stringent monitoring, though no local infections have been reported yet in the past week.

Some small border towns in northwestern and southwestern China, battling a higher risk of infections imported from overseas while equipped with relatively few resources, have suffered more severe disruptions than richer cities in China's efforts to clear infections.

Source: cna

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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.