Maldives Financial News

10.01 / 19:27

Cooper economy pandemic Trade President country reports Muizzu's bid to revive FTA with China may lead to debt crisis in Maldives

Maldives President Mohammed Muizzu has proposed to revive the free trade agreement with Beijing, but the move could push Male towards a debt trap. China's current share of Maldives total debt is 37% and there are fears that FTA will further increase debt share, pushing Maldives into a Sri Lanka-type crisis, ET has learnt. The Covid pandemic, notwithstanding India's generous assistance to the island nation, has dented Maldivian economy, according to observers.

10.01 / 19:03

UPS Election President show country social travelers Modi's beach visit to a remote Indian archipelago rakes up a storm in the Maldives

The relationship between India and the Maldives is facing challenges after officials in the tiny island nation made derogatory remarks against Prime Minister Narendra Modi’s posts that promoted the pristine beaches of India’s Lakshadweep archipelago

10.01 / 17:03

markets Digital Booking Schools Headlines EaseMyTrip ventures into insurance sector with new subsidiary

EaseMyTrip.com on Wednesday announced venturing into the insurance sector with the launch of its subsidiary EaseMyTrip Insurance Broker Pvt Ltd. The company termed it a «strategic move» to diversify its service portfolio and tap into the insurance market by creating a specialised product to solve customer needs.

10.01 / 14:47

Provident security Election President country reports Vaccines play Maldivian President Muizzu is choosing China over India: What is at play?

Mohamed Muizzu is currently on a five-day visit to China, courting investors and trying to deepen bilateral ties. In an address at the Maldives Business Forum in Fujian Province, he termed China as the island nation's «closest» ally.

10.01 / 14:10

Election President Photos show country social travelers Maldives row: India's swift response, former Maldivian minister warns of 'economic suicide'

Indian Prime Minister Narendra Modi posted a series of photos on social media last week showing him snorkeling, strolling on a white-sand beach and lounging in a chair next to turquoise waters in Lakshadweep, an island chain in the Indian Ocean. It was an “exhilarating experience," he wrote on X, formerly Twitter, as he peppered with praise the pristine lesser-known and remote Indian archipelago his government believes has untapped potential for tourism. The images were met with awe by Indians on social media, particularly Modi’s supporters.

10.01 / 13:41

markets Citi Trade President country reports India-Maldives row: President Mohamed Muizzu holds talks with China's Xi Jinping in Beijing

ALSO READ: India-Maldives row: ‘China one of our best allies’, Maldives President Muizzu urges Beijing to send more tourists He reached Beijing last night after staying in the Chinese city of Fujian for two days. In an address to the Maldives Business Forum in Fujian Province on Tuesday, Muizzu appealed to China to "intensify" efforts to send more tourists to his country.

10.01 / 12:45

UPS SUN Trade country International Xi Jinping elevates China’s ties with record number of nations to counter US

Xi Jinping upgraded diplomatic ties with a record number of countries last year as he seeks to rally the Global South to help reshape the US-led world order. Beijing elevated the way it described ties with 17 countries and territories, most of them from the developing world, according to a Bloomberg analysis of statements issued by the foreign ministry. That’s a pace not seen during Xi’s first decade in office.

10.01 / 07:57

markets Booking Progressive CEO Platform Remark travelers EaseMyTrip expands reach, takes flight in insurance sector with new subsidiary

₹7.9 trillion and growing at a rapid 32-34 per cent annually, the company disclosed in an exchange filing. Also Read | ‘Tourism stands as…’ Maldives tour and travel body urges EaseMyTrip CEO to resume flight bookings, extends apology Nishant Pitti, CEO and Co-Founder, of EaseMyTrip, said, “We are elated to announce the launch of EaseMyTrip Insurance Broker Private Limited.

10.01 / 05:24

COST Booking Airlines trends reports travelers Maldives holiday packages witness drop in enquiries and prices despite long weekends

enquiries and a substantial reduction in prices for Maldives vacation packages despite multiple long weekends in January, reported TOI. Formerly priced in the range of Rs 55,000 to Rs 70,000, three-day packages from Hyderabad, encompassing airfare, lodging, meals, and sightseeing, are presently accessible for Rs 45,000 or even less. Luxurious five-star packages, previously priced at over Rs 2.5 lakh, have now fallen below the Rs 2 lakh mark, as per travel agents. Additionally, the cost reduction trend may continue.

10.01 / 04:27

markets CEO President MakeMyTrip country information surges chess India-Maldives row: Anand Mahindra hails ‘masterful move in political Chess game’ as ‘interest in Lakshadweep’ surges

India-Maldives row: Anand Mahindra, CEO pf Mahindra group, has highlighted the sudden surge of interest in Lakshadweep tourism amid the row between India and Maldives, calling it a “masterful move in a political Chess game". Anand Mahindra took to microblogging site X and shared that he had received an article by Bloomberg from his ‘Business partner in New York’. The Bloomberg article is titled-- Why Indians Are Threatening to Boycott the Maldives.

10.01 / 04:13

Booking CEO Remark President country travelers Features ‘Tourism stands as…’ Maldives tour and travel body urges EaseMyTrip CEO to resume flight bookings, extends apology

The Maldives Association of Tourism Industry (MATI) also came in support of India and ‘strongly condemned’ the derogatory remarks made by the ministers on PM Modi's post on Lakshadweep. Meanwhile, on Tuesday, Maldivian President Mohamed Muizzu urged China to intensify efforts to send more tourists to his country amid the India-Maldives row.

10.01 / 02:48

markets Remark President country reports Videos India-Maldives row: ‘China one of our best allies’, Maldives President Muizzu urges Beijing to send more tourists

India-Maldives row that caused the cancellation of reservations by Indian tourists after a diplomatic row erupted over the derogatory remarks against Prime Minister Narendra Modi. Addressing the Maldives Business Forum in Fujian Province on the second day of his five-day visit to China, Muizzu termed China as the island nation's “closest" ally. “China remains one of our closest allies and development partners." He praised the Belt and Road Initiative (BRI) projects launched by Chinese President Xi Jinping in 2014, saying that they "delivered the most significant infrastructure projects witnessed in Maldivian history", according to his speech.

10.01 / 02:02

markets Trade show country 2020 reports fall Indian vs Chinese tourists in Maldives: The rise and fall in last 10 years

mocked Indian Prime Minister Narendra Modi over his Lakshadweep visit. Notably, Indians were only second to Russia in the chart showing tourist arrivals in the Maldives by nationality in January 2023. India was among the largest tourist markets for the Maldives in 2023.

09.01 / 15:31

Trade President show country social reports travelers India-Maldives ties under stress: What trade, tourism data shows

A controversy that began online last week has escalated into a diplomatic tussle, straining the ties between India and Maldives. The conflict began after three Maldivian ministers, now suspended, made derogatory comments about Prime Minister Narendra Modi, sparking a backlash from India. Some Indian social media users are calling for a boycott of the Maldives, potentially affecting the strong trade and interpersonal ties between the two countries.

09.01 / 15:02

Remark President Photos country social Relationships International ‘PM Modi takes everything personally’: Congress chief Mallikarjun Kharge reacts to India-Maldives row

Mallikarjun Kharge on Tuesday said PM Narendra Modi takes everything 'personally' after he came to power in 2014. "After Narendra Modi came to power, he is taking everything personally. At the international level, we should keep a good relationship with our neighbours...We should act according to time...We cannot change our neighbours..." ANI quoted Mallikarjun Kharge as saying.

09.01 / 04:57

Remark Celebrity beautiful testing travelers Destinations Ex-Pakistani cricketer's one-word post amid Maldives row goes viral. Netizens ask 'when are you coming to Lakshadweep'

Maldives controversy, former Pakistan cricket team spinner, Danish Kaneria, made a statement on his official X (formerly known as Twitter) handle. Kaneria, known for his subtle posts, published the word "Lakshadweep" accompanied by a fire emoji.

09.01 / 04:57

Remark community Trade social reports SOLIDARITY Destinations India-Maldives diplomatic row: CAIT asks traders to refrain from dealing with island nation

Narendra Modi have been deemed unacceptable by the business community, and this call to boycott aims to express solidarity and register disapproval against such disrespectful behaviour. The Confederation of All India Traders (CAIT) stated it has «urged traders and exporters to refrain from conducting business dealings with the Maldives».

09.01 / 03:53

Provident Remark pandemic reports Relationships Editorial Maldives tourism industry condemns remark on PM Modi's Lakshadweep post: ‘India always been 1st responder to…’ 10 points

India and visited China, unlike his predecessors. On Monday, China's state media Global Times, in an editorial, mentioned Muizzu's visit to the East Asian Nation, and referred to India's diplomatic row with the Maldives, and called for an "open-minded" approach to looking at South Asian issues. 10.

08.01 / 20:45

UPS Booking Remark trends social travelers Destinations Maldives row is leading to hurried travel plan changes

NEW DELHI : Adverse comments against India’s prime minister by three ministers of Maldives appear to have set off a chain reaction of holiday cancellations to the island nation. An executive committee member of Outbound Tour Operators Association of India said some travel companies have calculated that between 6 and 7 January, the industry might have seen up to 8,000 cancellations for hotel bookings in the Maldives by small groups from India.

08.01 / 20:43

Aware Platform Remark Opinion President social politician Delhi, Malé summon envoys as diplomatic row festersd

NEW DELHI : New Delhi summoned the Maldivian high commissioner in India on Monday, after distasteful comments by Maldivian ministers raised the diplomatic temperature between the neighbours. Maldivian high commissioner Ibrahim Shaheeb was summoned to India’s ministry of external affairs (MEA) in New Delhi on Monday morning. “Our High Commission in Maldives had strongly raised and expressed concerns about the comments made in regard to the prime minister by certain ministers in the Maldives government with the foreign office today," an MEA official said.

08.01 / 20:09

Waters wellness Pride country rights Destinations The Male gaze: Care for a quick Maldive?

Indians who have never wanted to go to the Maldives on vacation now don't want to go vacationing to the Maldives. Which makes boycotting the Maldives as a holiday destination a wee bit easier.

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