Ex-Maldivian Prez Nasheed constitutionally barred from contesting 2018 election

Ex-Maldivian Prez Nasheed constitutionally barred from contesting 2018 election

Colombo, December 4 (newsin.asia): Former Maldivian President Mohamed Nasheed, the Jumhoori Party leader Gasim Ibrahim, and Sheikh Imran, leader of the Adalaath Party, cannot contest the September 2018 Maldivian Presidential election because they do not qualify to do so under the constitution of the country, the Maldivian Ambassador to Sri Lanka, Mohamed Hussain Shareef, said […]

Maldivian opposition protests rushing through of FTA with China

Maldivian opposition protests rushing through of FTA with China

Colombo, November 30: The opposition Maldivian Democratic Party (MDP) has vehemently protested against the way the Abdulla Yameen government rushed the China-Maldives Free Trade Agreement (FTA) through parliament on Wednesday, writes P.K.Balachandran in South Asian Monitor. “The Speaker of parliament had called for an emergency sitting, to pass the FTA with China. The Agreement was […]

Maldivian tourism to promote itself vigorously in 2018 as Chinese arrivals decline

Maldivian tourism to promote itself vigorously in 2018 as Chinese arrivals decline

Male, November 30 (newsin.asia): The Maldives will be participating in seven out of 15 international tourism trade fairs in 2018 to boost its tourist industry which is flagging because of a fall in Chinese arrivals in the past four years. The Maldives Marketing and Public Relations Corporation (MMPRC) says that it will participate in the […]

Maldivian Govt justifies fast tracking FTA with China in the face opposition flak

Maldivian Govt justifies fast tracking FTA with China in the face opposition flak

Colombo, November 30 (newsin.asia): The Maldivian government has justified fast tracking a Free Trade Agreement (FTA) with China in the face of heavy flak from the opposition Maldives Democratic Party (MDP). Economic Development Minister Mohamed Saeed told the media on Wednesday after the FTA was approved by parliament, that the pact has opened the world’s […]

World Bank apologizes for asking political questions in a survey in Maldives

World Bank apologizes for asking political questions in a survey in Maldives

Male, November 29 (Maldives Independent): The World Bank has apologized for Maldivians being asked “unintended” political questions in a financial survey about how good their president is. In a statement issued Tuesday the global institution said survey staff had been posing questions “beyond the scope” of a data gathering exercise about how people save, borrow, […]

Maldives’ Central Bank Governor says borrowings used only for capital expenditure

Maldives’ Central Bank Governor says borrowings used only for capital expenditure

Male, November 29 (newsin.asia): The Governor of the Maldives Monetary Authority, Ahmed Naseer, has said that since the expected total revenue (excluding grants) of the government is 1.3 times higher than the expected current expenditure, the revenue is sufficient to cover current expenditure, and funds raised from borrowings are used solely for capital investments. On […]

Moody’s says Maldives’ tap bond offering will also carry B2 rating

Moody’s says Maldives’ tap bond offering will also carry B2 rating

Male, November 29 (newsin.asia): Moody’s has said that the Maldives’ (B2 stable) announcement of a tap bond offering on its existing US $200 million 7% notes due in 2022 will carry the B2 rating of the senior unsecured US dollar-denominated notes issued in June 2017, based on the preliminary prospectus.  A tap bond issue is a procedure […]

Maldives awards major housing contract to Chinese firm

Maldives awards major housing contract to Chinese firm

Wuhan, November 23, (Xinhua): Construction has started on 7,000 affordable houses in Hulhumale, a reclaimed sland in the Maldives, said China Construction Third Engineering Bureau Co., Ltd.”We have won the contract with our strong design and construction capacity. We also highlighted environmental protection in housing designs and won recognition of local firms,” said Li Wenduo, […]

Male airport gets advanced Amadeus management solutions to take increasing traffic

Male airport gets advanced Amadeus management solutions to take increasing traffic

Male, November 21 (newsin.asia): The Maldives’ Velana International Airport has now successfully deployed advanced Amadeus’ airport management solutions anticipating an increase in traffic,  Adil Moosa, Managing Director, Maldives Airports Company Limited, told Travel Daily News. Located in the capital Male, the airport presently receives 2.6 million passengers and over 35 scheduled and chartered carriers annually. Moosa […]

Maldives’ development-oriented budget raises issue of mounting public debt

Maldives’ development-oriented budget raises issue of mounting public debt

Colombo, November 21 (newsin.asia):  The Maldivian budget committee on Monday approved a  record national developmental budget of  MVR 27.9 billion (US$1.8 billion). But the budget, the last in President Abdulla Yameen’s first five year term, has raised the issue of mounting public debt. The government will spend MVR 24.9 billion (US$ 1.6 billion) and collect […]