US and South Korea warn North Korea nuclear test would see 'firm response'
June 14, 2022, 9:55 am

US and South Korea warn North Korea nuclear test would see 'firm response'

Secretary of State Antony Blinken begins his first press briefing at the State Department in Washington, Jan. 27, 2021. (Reuters)

The Anews reported, citing the DPA, the United States and South Korea on Monday (June 13) warned that a nuclear test by North Korea would be met with a "unified and firm response."

"Any North Korean provocations, including a nuclear test, will be met with a united and firm response from our alliance and the international community," South Korean Foreign Minister Park Jin told reporters in Washington following a meeting with US Secretary of State Antony Blinken.

According to the report, Washington and Seoul have been warning that Pyongyang could carry out its first nuclear test since 2017 at any time, an assessment shared by the International Atomic Energy Agency (IAEA).

North Korea has also already conducted 18 rounds of missile tests - including of an apparent intercontinental ballistic missile (ICBM) - since the beginning of the year in violation of UN resolutions.

Park Sang-hak, a North Korean defector and leader of an anti-North Korea civic group, holds a portrait of North Korean leader Kim Jong Un during an anti-North Korea rally near the U.S. embassy in Seoul, South Korea, February 26, 2019, ahead of a summit between North Korean leader Kim Jong Un and US President Donald Trump. (Reuters)

Blinken said Washington and Seoul were coordinating their response to Pyongyang's "unlawful nuclear and ballistic missile programs," saying its increase in missile testing "has raised tension throughout the Indo-Pacific region and beyond."

Blinken stressed that the US has "no hostile intent" towards North Korea and is committed to "pursuing a diplomatic approach.”

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Blinken said: "We're in very close touch with our close allies and partners, starting with [South] Korea, also with Japan and others, to be able to respond quickly should the North Koreans proceed with such a test."

He added: "We're preparing for all contingencies... And we are prepared to make both short and longer-term adjustments to our military posture, as appropriate.”

Park said: "Pyongyang's continuous provocations will only lead to strengthened deterrence of the alliance and stronger international sanctions measures."

Source: aa

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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.