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Maldives
Sapphire Foods India Ltd (SPIL) on Tuesday announced to increase its stake in GIFPL to 75 per cent from the current 51 per cent Gamma Island Food Private Ltd (GIFPL) operates Pizza Hut and KFC restaurants in Maldives under franchisee agreements. "The Board of Directors of Gamma Pizzakraft (Overseas) Pvt Ltd (GPOPL), wholly-owned subsidiary of SPIL, has considered and approved subscription of upto 81,914 Equity Shares of GIFPL, subsidiary of GPOPL and step-down subsidiary of the Company, for a total consideration of upto 1.88 crore Maldivian Rufiyaa (Rs 10.15 cr)," it said. SPIL further added, "Pursuant to this proposed acquisition, the equity shareholding of GPOPL in GIFPL will be increased from the existing 51% up to 75%." "The proposed acquisition is by way of subscription to the additional equity shares issued by GFIPL to GPOPL, in one or more tranches, pricing of which is based on a chartered accountant report," it said. SFIL is one of the largest franchisees of Yum! Brands In
India on Tuesday handed over USD 100 million as assistance to the Maldives to ease the financial challenges faced by the strategically located archipelagic state in the Indian Ocean. A ceremony was held here at the Ministry of Foreign Affairs where Foreign Minister Abdulla Shahid and Finance Minister Ibrahim Ameer were also present. "Our special partnership, marked by genuine concern for each other's welfare and interests, delivers every single time and particularly in time of need," tweeted External Affairs Minister S Jaishankar, who joined the ceremony via a video link. "The Government of India handed over financial assistance of USD 100 million to the Government of Maldives to ease the financial challenges. India remains reliable and steadfast in extending assistance to the Maldives," the Foreign Ministry of the Maldives said in a tweet. Foreign Minister Shahid thanked India for the timely and generous financial assistance of USD 100 million. "It is truly the strength of our tie
After Maldives, Australia on Sunday clarified that it did not participate in the "China-Indian Ocean Forum on Development Cooperation" held on November 21."Contrary to media reporting, no Australian Government official attended the Kunming China-Indian Ocean Forum on Development Cooperation," tweeted Australia's High Commissioner to India, Barry O'Farrell.China's aid agency hosted a meeting on Indian Ocean Forum. Maldives's former President Mohammed Waheed Hassan & Australia's Former PM Kevin Rudd joined virtually. No representation at official capacity by Male, Canberra."Pleased @TimWattsMP attended #IORA Ministerial Council last week, the only ministerial-level forum for the Indian Ocean. Australia was delighted India's application for Vice Chair was accepted by consensus. We share an enduring interest: a free, open, rules-based and secure Indo-Pacific," added the Australian envoy.While Canberra was invited for the meet by Beijing, Australia, a member of Quad (comprising ...
Exim Bank on Monday said it has extended a line of credit of USD 100 million to the Maldives for financing developmental projects. Exim Bank's overall commitment to the strategically important island nation located in close proximity goes to six lines of credit totalling USD 1.43 billion, as per an official statement. Projects being funded through the LOCs include Greater Male' Connectivity Project, Water and Sewerage Projects, Addu Development Project, International Cricket Stadium Project, Defence projects, Gulhifalhu Port Project, Hanimaadhoo Airport Project, Gan Airport Project, Fisheries Project, Road Construction Project and Sports Infrastructure, it said. An agreement was signed in Male on Sunday by Maldives' Minister of Finance Ibrahim Ameer and Exim Bank's general manager Nirmit Ved. India's Foreign Secretary V M Kwatra and his Maldivian counterpart Ahmed Latheef were also present. With the signing of this LOC agreement, Exim Bank has now 311 lines of credit covering 67 ..
It was only India which helped Sri Lanka and Maldives when these countries were in distress while other countries were interested in finding business opportunities, RSS chief Mohan Bhagwat said here on Thursday. Spirituality is the "soul of India", he said, addressing a program organized by Bharat Vikas Manch, an organization associated with the Rashtriya Swayamsevak Sangh (RSS). "Spirituality is the soul of India. What does India need to do? It is to tell everyone how to live life on the basis of this spirituality through our own example," he said. "Living life without ego" was the soul of India, he added. Countries like China, United States and Pakistan turned their attention to Sri Lanka when they saw business opportunities there, he said. "But now when Sri Lanka is in trouble, who is extending help? It is only India. Who sent water to the Maldives when it was facing a water crisis? It was India which did. This is the spiritual India," he said. Talking about all-round ...