Maldives Financial News

Lok Sabha elections 2024 Results: June 4 is here, and people across the world have set their eyes on the clock as the biggest democracy is all set to get its new government. The year 2024 is packed with elections across several nations, and India's general election is one of the most crucial ones, as the new government will be formed amid intense geopolitical tensions and wide trade disruptions.

defence agreement with the Maldives, China's Ambassador here has met with the island nation's defence minister to discuss «the strengthening of military ties and the security and safety of the two countries.» Chinese Ambassador to Maldives Wang Lixin paid a courtesy call on Defence Minister Ghassan Maumoon on Monday, news portal Adhadhu.com reported.

Israeli tourists are warmly welcomed and treated with utmost hospitality," the Israeli Embassy in India said in a post on X and also shared a list of recommendations.The posts mentioned the beautiful beaches of Goa, Kerala, Lakshadweep, Andaman & Nicobar Islands as alternative tourist destinations to Maldives, primarily known for its serene beaches. Israeli Embassy's promotion comes as India and Maldives relations took a nose dive after the election of President Mohamed Muizzu, who came to power on the backs of the ‘India OUT’ campaign. Mohamed Muizzu has displayed close proximity to China and forced India to withdraw its troops from the island nation.

The Maldives government will ban Israelis from the Indian Ocean archipelago, known for luxury resorts, as public anger in the predominantly Muslim nation rises over the war in Gaza

government on Sunday decided to amend laws to ban Israeli passport holders from entering the Indian Ocean archipelago, amid mounting public anger in the country over the devastating attacks by Israeli forces on Gaza. The decision was announced by Home Minister Ali Ihusan at an emergency press briefing at the President's Office, news portal Sun.mv reported.

screenshot of the LiveMint story, Kerala Congress asked, “Couple of months ago, online travel aggregator @EaseMyTrip made a nationalistic move by removing Maldives as a destination from their flight and hotel booking platform to support Modi. Now they have quietly resumed booking to Maldives.

handler of the four of its nationals who were arrested at Ahmedabad airport in India for their alleged links with the banned Islamic State (ISIS) outfit, according to a media report. The Criminal Investigation Department in Colombo arrested Gerard Pushparaja Osman, the Daily Mirror portal reported.

Southwest Monsoon has set in over Kerala and advanced into most parts of Northeast India, India's weather office said on Thursday. Monsoon hit Kerala's coasts a day earlier than forecasted by the Indian Meteorological Department. IMD on May 15 had announced the onset of monsoon over Kerala by May 31. Weather scientists noted that Cyclone Remal, which struck West Bengal and Bangladesh on Sunday, may have drawn the monsoon flow to the Bay of Bengal, potentially contributing to its early onset in the northeast.

Kerala within the next 24 hours, with expectations for it to also advance into some parts of the northeastern states, the India Meteorological Department said in its latest update. Furthermore, the IMD said, the conditions support the further progression of the southwest Monsoon into additional areas of the South Arabian Sea, the remaining regions of the Maldives and the Comorin area, parts of the Lakshadweep area, and further regions of the Southwest and Central Bay of Bengal, the Northeast Bay of Bengal, and parts of the Northeastern states during this period.

ALSO READ: What does Google CEO Sundar Pichai like to eat in India? 'Dosa in Bengaluru, Chole Bhature if it is…'Sharing the glimpses, a social media user named Aditya Worah took to X and wrote, "Only in Delhi can you expect this. Eat Chole Bhature, Lose Weight, Reduce Diseases."Soon after he shared a post in X, it became viral and garnered 47.5K views.

Maldives Ministry of Foreign Affairs co-chaired the India Maldives Review meeting. The two officials took stock of Indian grant-funded high-impact community development projects in Maldives. According to the Indian High Commission in Maldives, India is supporting the implementation of 65 community development projects worth MVR 360 million in Maldives. In a post shared on X, the Indian High Commission in Maldives stated, «India Maldives Review meeting co-chaired by HE Ahmed Naseer, Amb-at-large @MoFAmv and @AmbMunu to take stock of Indian grant-funded high impact community development projects #HICDP. India is supporting implementation of 65 community development projects worth MVR 360 million in Maldives.»

Maldives, Munu Mahawar, and Ahmed Naseer, Ambassador at Large for the Maldives Ministry of Foreign Affairs, co-chaired the India-Maldives Review meeting. The officials reviewed Indian grant-funded high-impact community development projects in the Maldives.According to the Indian High Commission in the Maldives, India is supporting 65 community development projects in the Maldives, valued at MVR 360 million.In a post shared on social media platform X (formerly known as Twitter), the Indian High Commission stated, “India Maldives Review meeting co-chaired by HE Ahmed Naseer, Amb-at-large @MoFAmv and @AmbMunu to take stock of Indian grant-funded high impact community development projects #HICDP.

Mint has reached out to co-founder Prashant Pitti and will update the story with the response once shared.On January 8, the online travel company indefinitely suspended flight bookings to the Maldives. This decision was prompted by social media posts critical of Indian Prime Minister Narendra Modi made by three Maldivian ministers, who have since been suspended.

Maldives matters: India’s moving to foil Chinese designsMinister of Economic Development and Trade Mohamed Saeed said, "Addressing the dollar issue and reinforcing the MVR is a top priority for the current administration".In August 2022, the then President of Maldives Ibrahim Mohamed Solih said, “The two leaders welcomed the ongoing work to operationalize the usage of Rupay Cards in Maldives and agreed to consider further measures to boost bilateral travel and tourism and economic inter-linkages".Maldives says its pilots cannot fly aircraft donated by IndiaOn Wednesday, Maldives said that both India and China have agreed to cooperate in efforts to pay for imports in their respective countries’ currency instead of the US dollar. Saeed said he met with the Indian High Commissioner Munu Mahawar two weeks ago, who in turn, said that New Delhi would support and cooperate in arranging for the settlement of import payments in Indian Rupee.'True gesture of goodwill': Maldives thanks India for extending budget supportSaeed said the move is likely to help Male save almost 50% of the annual $1.5 million import bill from the two countries.In July 2023, the Government of India declared that Maldives was among the 22 countries that were permitted by the Reserve Bank of India to open Special Rupee Vostro Accounts (SRVAs) as part of efforts to promote bilateral trade in local currencies.Over the last few years, multiple banks and payment companies from across various countries have partnered with NPCI International Payments Ltd (NIPL), the international arm of NPCI, to accept UPI and RuPay in one form or the other.

Maldives on Wednesday said both India and China have agreed to cooperate in efforts to pay for imports in their respective countries' currency instead of the US dollar, which is likely to help Male save almost 50 per cent of the annual USD 1.5 million imports bill from the two countries. Maldives' Economic Development Minister Mohamed Saeed said he met with the Indian High Commissioner Munu Mahawar two weeks ago, who in turn, said that New Delhi would support and cooperate in arranging for the settlement of import payments in Indian Rupee. Similarly, Saeed said, he received a letter from China's Commerce Ministry, two days ago, in which Beijing provided assurance it will cooperate in allowing the option to settle import payments in Yuan, the Chinese currency, as requested by President Mohamed Muizzu. Annually, Maldives imports goods worth USD 780 million and USD 720 million from India and China respectively, the minister had said in April when he had first announced that the Maldives was discussing with India and China if the island nation can make payments for its imports from the country in Maldivian Rufiyaa.

heatwave conditions in several parts of eastern and southern India. People eagerly await monsoon 2024 for respite from the hot and humid weather. The India Meteorological Department on Wednesday predicted that a southwest monsoon will likely hit Kerala on May 31, with a model error of four days on either side.

Mint on the impact of climate change in the Asia Pacific region. India accounts for most of the economic and human losses in South Asia region.

It’s a measure of the strategic importance of the Indian Ocean Region (IOR) archipelago of the Maldives that India recently chose to host its new foreign minister, Moosa Zameer, despite the hurly-burly of Lok Sabha elections. With the Maldives’ President Mohamed Muizzu-led government already in China’s tight embrace, and the consequent turbulence in bilateral ties, India can ill-afford to cede further space to Beijing.

India-Maldives Relations: India has dismissed claims made by Maldivian Defence Minister Ghassan Maumoon, who alleged that Indian military helicopter pilots in the Maldives conducted an unauthorised operation in 2019. In a post on the social media site X (formerly known as Twitter), the High Commission of India in the Maldives issued a statement asserting that Indian aviation platforms in the Maldives have always operated according to “agreed procedures and with due authorisation." “Indian aviation platforms in the Maldives have always operated as per agreed procedures and with due authorization from MNDF.

Also Read: Maldivian defence minister admits 'no pilots fully operational' as Indian defence personnel depart, says report "I thank EAM @DrSJaishankar and the Government of #India for extending vital budgetary support to Maldives with the rollover of USD 50 million Treasury Bill," said Moosa in a post on X. "This is a true gesture of goodwill which signifies the longstanding friendship between Maldives and India," he added.

International Monetary Fund warned the Maldives against looming «debt distress» Monday, as the small but strategically placed luxury tourist destination looks set to borrow more from main creditor China.