Maldives

ADB, Maldives sign $41mn financing package to support SMEs, tourism

The Asian Development Bank (ADB) signed a $41 million financing package with the Bank of Maldives (BML) on Tuesday to support locally owned small and medium-sized enterprises (SMEs) and tourism

Chennai's Renaatus gets $ 29 mn contract expand Maldives airport

Project funded by Exim Bank of India, involves constructing an air traffic control tower, fire station and upgrading terminal

India, Maldives hold fourth defence cooperation dialogue in Male

The dialogue was co-chaired by Defence Secretary Giridhar Aramane and his Maldivian counterpart, Chief of Defence Force, Maldives National Defence Forces Major General Abdulla Shamaal

Sapphire Foods to increase stake in Maldives-based GFIPL from 51% up to 75%

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

Jaishankar, Maldives prez take part in groundbreaking of airport project

External Affairs Minister S Jaishankar and Maldives President Ibrahim Mohamed Solih have jointly participated in groundbreaking ceremony of Hanimaadhoo international airport redevelopment project

S Jaishankar visits Maldives, to witness impact of developmental assistance

Jaishankar is on a three-day visit to the Maldives and Sri Lanka beginning to further expand bilateral engagement with the two key maritime neighbours of India

Nearly 1.5 million tourists visited Maldives this year: Ministry of Tourism

The Maldives received nearly 1.5 million tourists so far this year, with travellers from India topping the list, according to data from the country's Ministry of Tourism.

India hands $100 mn in assistance to Maldives to ease financial challenges

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

Maldives, Australia deny participating in China-led Indian Ocean Forum meet

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 ...

9 Indians among 10 killed, several injured in Maldives fire incident

Officials said 10 bodies were recovered from the upper floor of a building destroyed in the fire, which originated from a ground-floor vehicle repair garage, local media reported.

EXIM Bank extends $100- mn LoC to Maldives for development projects

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 ..

Only India helped Sri Lanka, Maldives during crisis: RSS Chief Bhagwat

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 ...

Sri Lanka, Pakistan, Maldives stand neck-deep in Chinese debt: Forbes

The world's low-income countries owe 37 per cent of their debt to China in 2022, compared to just 24 per cent in bilateral debts to the rest of the world

Maldives reaffirms commitment to One-China policy, to issue no statement

The Maldives government has reaffirmed its commitment to the One-China policy, but said that it would not issue any official statement on it

India, Maldives ink six agreements to broad-base ties in key areas

PM Modi asserted that New Delhi has been and will continue to be the "first responder" to any need or crisis facing the island nation

PM Modi holds talks with visiting Maldivian President Mohamed Solih

PM Modi and visiting Maldivian President Ibrahim Mohamed Solih held extensive talks with an aim to ramp up overall bilateral strategic ties including in areas of trade and investment

Extending export credit in rupee can boost its acceptability: Experts

However, the rupee can truly become internationalised only when it becomes freely convertible on capital account, they say

Latest LIVE: Delhi HC directs Vivo to furnish Rs 950-cr bank guarantee

Live news updates: From the crisis in Sri Lanka to coronavirus cases, presidential elections, and more, catch all the latest developments from across the globe here

Sri Lankan President Rajapaksa flees to Maldives in military aircraft

Rajapaksa landed at the Velana International Airport in the Maldives early Wednesday

JLF's Maldives outing: From Jaipur to London, the lit fest is going places

At most foreign editions, JLF makes some attempt to encourage discussions on issues directly concerning the host city