Maldives Financial News

ALSO READ: India slips to 6th rank on Maldives Tourism charts as President Mohamed Muizzu welcomes China "There is only one platform left. As the two countries have already signed, they [the remaining Indian military personnel] will also be recalled ahead of May 10. They will leave," President Muizzu was quoted by the report as saying.

tourists back to the Maldives, a major tourism body here has announced that it will hold road shows across key Indian cities. A full-blown backlash was directed at the Maldives following derogatory remarks against India and Prime Minister Narendra Modi on social media by three Maldivian officials after Modi posted photos and video of the pristine Lakshadweep Islands on India's west coast on January 6 on his X handle. Scores of Indians, including multiple celebrities, cancelled their reservations and dropped plans to visit Maldives. The tourism arrival statistics reflected how from being a top visitor country, India's position went down to first fifth and now at the sixth position after January.

After Chabahar, India is reportedly on course to gain the rights to operate a second overseas port, Sittwe, located in the Rakhine state of Myanmar. There is though no official corroboration yet. Ports in the Indian Ocean have become hot property as China on one side and the India-US combine on the other race to invest in them.

India and the Maldives may be moving to stabilise their bilateral ties after tensions. Since President Mohamed Muizzu took office last year, the removal of Indian troops from the Maldives has complicated diplomatic relations. But bilateral ties may be settling down.

Read more here Pakistan on April 6 reportedly denounced remarks made by Defence Minister Rajnath Singh as “hateful rhetoric to fuel hyper-nationalistic sentiments", and “unapologetically exploit discourse for electoral gains". “Such myopic and irresponsible behaviour not only undermines regional peace but also impedes the prospects of constructive engagement in the long term. India's assertion of it preparedness to extra-judicially execute more civilians, arbitrarily pronounced as terrorists, inside Pakistan constitutes a clear admission of culpability," the Ministry of Foreign Affairs, Pakistan in an official statement.

BJP worker Sai Prasad linked to Rameshwaram Cafe blast case: What we know so far? Nikita, who was visiting her sister's home in Awas Vikas Colony in Basti on April 5, was playing with her niece on the sofa when a monkey jumped into the room. The ape began rummaging through utensils, searching for food and other members of the household were in different rooms when this happened, it added.

5 states where Indians need special permits to visit Aman Singh, a tourist from Mumbai said, "We wanted to come for a very long time to Lakshwadeep but there were many myths associated with the island but PM Modi's visit had an impact that it is possible to go". Sumit Anand said he made the archipelago his next designation only after seeing PM Modi's photos and videos.

United Nations, India on Friday abstained in the UN Human Rights Council on a resolution that called for an immediate ceasefire in Gaza and also demanded that Israel immediately lift its illegal blockade on the strip. The draft resolution on the 'Human rights situation in the Occupied Palestinian Territory, including East Jerusalem, and the obligation to ensure accountability and justice' was adopted by the Geneva-based Council with a vote of 28 in favour, 6 against and 13 abstentions. India abstained on the resolution, along with France, Japan, Netherlands, and Romania among others. Those voting against the resolution included Argentina, Bulgaria, Germany and the US.

PTI reported. In an official statement, the High Commission of India said on April 5, "Upon the request of the Government of Maldives, the Government of India has allowed for export of certain quantities of essential commodities for the year 2024-25 under a unique bilateral mechanism, wherein, the quotas for each of these items have been revised upwards.

Maldives, the government said on Friday, even as ties between Male and New Delhi remained tense amid rising Chinese influence. India, a leading exporter of rice, sugar and onions, has imposed various curbs on exports of these food commodities to keep a lid on local prices ahead of general election. Shipments of these commodities in the 2024/25 finiancial year which started on April 1 to Maldives «will be exempted from any existing or future restriction/prohibition on export,» the government said in a notification.

India's defence exports have witnessed a significant surge in 2023-24 with a growth of ₹21,083 crore. In fact, the last few financial years have witnessed steady and methodical increase in India's defence exports to countries including the Seychelles, the Maldives, Mauritius and Ecuador. These y-o-y increases started primarily in 2017-18, with the trajectory of defence exports hitting ₹4,682 crore, followed by a significant jump to ₹10,745 crore, which represented an increase of an impressive 129.49% in 2018-19. Then, a dip of 15.16% in defence export performance in 2019-20 to ₹9,115 crore was induced by the pandemic. A further decrease ensued in 2020-21, due to the continuation of Covid, by 7.47% to ₹8,434 crore. The decrease in 2019-20 and 2020-21 was not as precipitous as the surge in defence export growth in the pre-pandemic phase. In the post-pandemic phase, defence exports regained their footing with an increase to ₹12,814 crore in 2022-23, which was higher than in the pre-pandemic year of 2018-19 when exports actually experienced a significant rise.

Muizzu highlighted the presence of Indian troops on three platforms in Maldives. ALSO READ: How did China strengthen its bond with Maldives amid India exit? 10 key collaborations between Male, Beijing He said the troops on the third aviation platform will be withdrawn by May 10. He was quoted as saying that the withdrawal of foreign troops from Maldives is being "pursued in accordance with diplomatic norms and principles".

Bangladesh Prime Minister Sheikh Hasina is fighting back against the Opposition BNP’s India-Out campaign and has advised the BNP leaders and their families to first ban India made products in their homes before launching the malicious campaign. Last week Hasina launched an attack on BNP’s “India-Out” campaign on the occasion of the country’s Independence Day on March 26 advising the leaders of the Opposition party to first shun India made products at home and highlighted that even most kitchen items in Bangladesh are bought from India. “How many Indian saris do their wives have?” Hasina asked in a reference to BNP leaders at an event in Dhaka organised on the occasion of the country’s Independence Day observed on March 26.

Over the past five years, the West has worried that India is losing its values, by which it means that India is not trying to imitate the West. Even despots are wondering what is up with India. Every country wants other countries to have Western values.

Mohamed Muizzu took over as the Maldives President, he has offered China many opportunities to invest in the island nation. Here's in 10 points how China has been helping Maldives in the past few months: Earlier in March, China signed a defence cooperation agreement with the Maldives. As part of the deal, China would provide Maldives with free military assistance to foster "stronger" bilateral ties.

Maldives President Muizzu advised to mend India ties, ‘stop being stubborn’ Since then ties between India and Maldives remained strained. However, last week, the Maldivian President requested New Delhi for debt relief measures. In an interview with local media 'Mihaaru', President Muizzu said that he hopes India will accommodate debt relief measures for the Maldives' in the repayment of the hefty loans taken from the country over consecutive governments.

President Dr Mohamed Muizzu took office in November 2023. The announcement was made by the Maldives government, stating that the drinking water shipment has successfully reached the archipelago nation. This decision was a result of discussions during the official visit of China's Tibet Autonomous Region's Chairman, Yan Jinhai, to the Maldives, where he met with President Dr Mohamed Muizzu last November, as confirmed by the Ministry of Foreign Affairs.

Former Maldivian President Ibrahim Mohamed Solih has urged President Dr. Mohamed Muizzu to abandon his obstinacy and engage in dialogue with neighboring countries to address the nation's financial woes, according to news portal adhadhu.com. Solih made these remarks during a rally in Male' organized to garner support for Maldivian Democratic Party (MDP) ahead of parliamentary elections. At the gathering, Solih highlighted media reports suggesting Muizzu's interest in discussing debt restructuring with India. However, Solih argued that Maldives' financial challenges stem primarily from debts owed to China rather than India. He emphasized that Maldives owes China more than two times the debt as compared to India. Expressing confidence in the willingness of neighboring and Islamic countries from the Middle East to assist Maldives, Solih emphasized the necessity of abandoning stubbornness and embracing dialogue. He criticized the current government's actions, sarcastically remarking on the limited assistance received from the Middle East, citing only 50 tons of dates.

Mohamed Muizzu to engage in dialogue with neighbouring countries to tackle the nation's financial challenges, PTI reported. Solih's remarks come in response to recent calls from President Muizzu, known for his pro-China stance, urging India to provide debt relief to the Maldives. Speaking at an event in Male', Solih emphasised the importance of dialogue and cooperation in overcoming the economic hurdles facing the nation.

Maldives President Mohamed Muizzu has extended an olive branch, asserting India's crucial role as the Maldives' "closest ally", PTI reported. In a recent interview with local media, Muizzu emphasised the need for continued support from India, particularly in addressing the Maldives' debt burden. "India will continue to remain the Maldives’ closest ally, there is no question about it," he told local Dhivehi language publication 'Mihaaru' in an interview — his first one since assuming office last November.

Mohamed Muizzu has struck a reconciliatory tone, saying India will continue to remain his country's «closest ally» and urged New Delhi to provide debt relief to the archipelago nation. The Maldives owed approximately USD 400.9 million to India by the end of last year. Ever since he took oath as the president in November last year, the pro-China Maldivian leader has pursued a hardline stand towards India and within hours had demanded that Indian military personnel operating three aviation platforms be repatriated from his country by May 10. On Thursday, in his first interview with the local media since assuming office, Muizzu said India was instrumental in providing aid to the Maldives and has implemented the «greatest number» of projects.