Maldives Financial News

China said on Tuesday that it supports the Maldives in safeguarding its sovereignty, as the first batch of Indian military personnel operating a helicopter left the island nation and was replaced by a civilian crew. Indian military personnel stationed in the Maldives manning the operations of a helicopter left the country after handing over the operations of the chopper to an Indian civilian crew, the Maldivian media reported on Monday. Asked for his comments on the first batch of the Indian military personnel's withdrawal from the Maldives, Chinese Foreign Ministry spokesperson Wang Wenbin said he was not aware of the specifics. «China supports the Maldives in safeguarding its territorial sovereignty and carrying out friendly cooperation with all sides on the basis of independence,» he said.

Mint Explainer: What’s behind Maldives’ new defence pact with China In January this year, Maldivian President Mohamed Muizzu asked India to withdraw its military from the archipelago island by 15 March. Muizzu swept into power in September on a campaign to reduce India’s influence on the island. Muizzu is known to share a closer relationship with China.

impacted the Maldives a lot, and I am actually here in India. I'm very worried about this. I want to say the people of the Maldives are sorry, we are sorry that this has happened.

China and the Maldives have signed an agreement paving the way for greater Chinese military assistance to Male. While the details of the agreement are remain unclear, The agreement, details of which are still unclear, follow a string of decisions in recent months by president Mohamed Muizzu’s government to reduce his country’s reliance on India. Mint takes a look.

India has commissioned a new naval base "INS Jatayu" in the Lakshadweep islands to significantly upgrade its military capacity. The base will be the nearest major military installation to the Maldives. INS Jatayu, which was commissioned on Minicoy Island on Wednesday, is the second naval base on the island chain and will be co-located with a joint airfield that is to come up in the future. The closest land to Minicoy is Thuraakunu Island in Maldives, which is located at a distance of about 100 km to the south, across the Vangaaru Channel. The new base was inaugurated by Navy Chief Admiral R Hari Kumar who said more assets will now be based on the island. Officials added that it will significantly augment India's surveillance capabilities in the region.

24/7 monitoring system for the Maldivian waters this month to ensure control of its Exclusive Economic Zone (EEZ) despite its significantly large area. Speaking at a ceremony at one of the islands that he was visiting on Monday, Muizzu said, the Maldives Ministry of Defence is making efforts to obtain the facilities required for conducting the hydrographic surveys by the country itself. “This will allow Maldives to conduct the underwater surveys of the country by ourselves.

training from China's military under a newly inked agreement with Beijing, President Mohamed Muizzu has said, underlining that it would further strengthen the Indian Ocean island nation's independence and autonomy. Muizzu also met Major General Zhang Baoqun, Deputy Director of the Office for International Military Cooperation of China, and President of the Export-Import Bank of China, Ren Shengjun separately. Earlier on Monday, the Maldives Ministry of Defence announced that a military assistance agreement has been signed by Defence Minister Mohamed Ghassan Maumoon and Major General Zhang. However, it did not reveal any additional details. This is the first time Maldives has signed a deal with China for military cooperation of this level. Previously, China had been exclusively known for its assistance towards urban and economic development of the Maldives, news portal Sun.mv said.

China has announced a 7.2% increase in its defence budget, crossing $230 billion, exceeding three times India's military expenditure. This rise comes despite a slowdown in China's economic growth and its refusal to de-escalate tensions along the Line of Actual Control (LAC) with India. Strategic Intent and Military Modernisation China's two-million-strong armed forces are rapidly modernizing to deter the US from interference, especially in Taiwan. Recent moves include strengthening conventional military and nuclear forces and strategic moves in the Indian Ocean Region (IOR), including a military assistance pact with the Maldives.

China on Monday signed a defence cooperation agreement with the Maldives to provide free military assistance to foster «stronger» bilateral ties with Male, weeks after President Mohamed Muizzu set a deadline for the withdrawal of the first group of Indian military personnel from his island nation. The Defence Minister of the Maldives Mohamed Ghassan Maumoon met with Major General Zhang Baoqun, Deputy Director of the Office for International Military Cooperation of China, to discuss enhancing defence cooperation between the two countries. Maumoon and Major General Baoqun «signed an agreement on China's provision of military assistance gratis to the Republic of Maldives, fostering stronger bilateral ties,» the Maldivian defence ministry posted on its X handle. The details of the defence cooperation agreement were not provided.

ANI, Jaishankar emphasized that “big bullies" do not extend aid amounting to USD 4.5 billion when neighbouring countries face distress. EAM Jaishankar at the event on Sunday, “The big change today in this part of the world is what has happened between India and its neighbours.

Ramadan started on March 24 and finished on April 21. In countries like United Arab Emirates, Bahrain, Kuwait, Lebanon, Oman, Pakistan, Saudi Arabia, UK, US, Turkey, Maldives, Ramadan is likely to start on 11 March. In India, Bangladesh, Indonesia, Egypt, Ramadan is likely to start from 12 March, a report by Hindustan Times has states.

political turmoil, numerous voices have advocated for boycotting products, services, brands and even nations as a mark of protest. Take the BDS — boycott, divestment, sanctions — movement, which wants to pressure Israel to change its policies towards Palestinians through various forms of economic and political actions. It first gained international attention in the early 2000s. It has targeted global business entities such as Nestle, Burger King, Disney, Siemens, HP, Puma, Carrefour and others for supporting Israel, covertly or overtly. Many governments have also taken this route. Last year, Turkish parliament withdrew Coca-Cola and Nestle products from restaurants in parliament for supporting Israel. India has done things more subtly. It used BJP's social media arm to mobilise people to boycott Chinese products after border skirmishes, and to boycott the Maldives as a tourist destination after a minister made uncharitable remarks about India.

The Maldives is a key maritime neighbour in the Indian Ocean region and occupies a special place in its initiatives like SAGAR' (Security and Growth for All in the Region) and the Neighbourhood First Policy' of the Narendra Modi government. The island nation's proximity to India — barely 70 nautical miles from the island of Minicoy in Lakshadweep and 300 nautical miles from the mainland's western coast — and its location at the hub of commercial sea lanes running through the Indian Ocean Region gives it significant strategic importance.

Firstpost Defence Summit in New Delhi. The ex-defence minister claimed that there is no threat to the sovereignty of Maldivian citizens by Indian troops stationed in their country, even as “(Maldives President Mohamed) Muizzu thinks that there is an antagonism between the Maldivians and the Indians.… (It has been) three months since he came into government, the Indian troops are still there." She remarked that the sovereignty of a nation is assured when there is trust and friendship among neighbours and friends.

President Mohamed Muizzu regarding the presence of «thousands of Indian military personnel» in the Maldives. Shahid stated that there are no armed foreign soldiers stationed in the country, labeling Muizzu's assertions as «just another in a string of lies.» In a social media post, Shahid, who is also the newly elected president of the Maldivian Democratic Party, emphasized the importance of transparency and the need for the truth to prevail. He highlighted the current administration's failure to provide specific numbers, questioning the credibility of Muizzu's claims. The removal of Indian troops from the Maldives was a key campaign promise of Muizzu's party. Currently, approximately 70 Indian troops, along with Dornier 228 maritime patrol aircraft and two HAL Dhruv helicopters, are stationed in the Maldives. Muizzu had formally requested the Indian government to withdraw its military personnel from the country on the second day of assuming office.

Mohamed Muizzu about “thousands of Indian military personnel" were just another in a string of lies. In a post on X (formerly Twitter), the newly elected president of the Maldivian Democratic Party said, “100 days in, it's clear: President Muizzu's claims of 'thousands of Indian military personnel' were just another in a string of lies. The current administration's inability to provide specific numbers speaks volumes." "There are no armed foreign soldiers stationed in the country.

France on the top. India slipped one rank down from last year to 85th even as the countries with visa-free access to its citizens increased to 62 from 60 in 2023. The rank of crisis hit Pakistan stood the same as last year on 106 while Bangladesh's slipped from 101 in 2023 to 102 this year.

Also Read: PM Modi to inaugurate first Hindu temple in UAE, travel to Qatar this week — Check full schedule, key details Last year, Goa's Palolem and Agonda cities had secured the first and the second rank in Most Welcoming Indian cities list. The list was followed by Mararikulam, Hampi, Khajuraho, Tekkady, Jaisalmer, Bir, Munnar and Kerala.

Maldives has deported 186 foreigners, including 43 Indians, after accusing them of committing crimes like visa violations and drug offences, according to a media report. The highest number of people deported was from Bangladesh. At least 83 Bangladeshis were deported followed by 43 Indians, 25 Sri Lankans and 8 Nepalis. The date of their deportation is not yet known, Male-based news outlet Adhadhu reported. The deportations come as efforts are underway in the Maldives to shut down businesses operated illegally.

Bangladesh close on the heels of a similar campaign in Maldives has its origin in anti-liberation and radical sections in the neighbouring country that enjoys patronage of Pakistan and pro-Pak parties including BNP and outlawed Jamaat-e-Islami. The campaign has the potential to rock Bangladesh economy as citizens are being encouraged to boycott Indian products that dominate daily lives, Dhaka-based sources told ET. The campaign, sources claimed, is aimed at weakening Bangladesh economy and subsequently the Hasina government akin to the artificial crisis that was created in early 1970s to weaken the then Sheikh Mujib government.

ALSO READ: Maldives news: Opposition MPs engage in fight during parliamentary proceedings, video goes viral Analysis of the data show that in the last one month, China took over India in terms of the number of tourist arrivals in the Maldives around January 21. Before this, China was trailing India in chart showing 'Top 10 Markets 2024' of the Maldives tourism. As of December 31, India bagged the top spot in the Maldives tourism market share (11.1 percent), followed by Russia and China (10 percent).