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Maldives
Hassan Latheef, president of The Democrats, a major opposition party of Maldives, resigned on Saturday while a few senior leaders returned to their parent party. While Latheef has resigned from the post, Democrats senior members Hussain Amru, Ali Azim and Mohamed Shifaz have switched to Maldivian Democratic Party (MDP), news portal Edition.mv said here. "I resigned because I believe it is very important at this time," he told Mihaaru News, Editions' sister publication. A senior official of The Democrats told the Sun.mv news portal that though Hassan has resigned from the party's leadership role, it is uncertain if he has exited the party entirely. The Democrats party was formed after some members broke away from the MDP following a rift ahead of the September 2023 presidential elections. One faction of the MDP continued allegiance to then President Ibrahim Mohamed Solih --- who is seen as a strong Indian ally and had lost his bid for re-election to Mohamed Muizzu. The other facti
India on Friday said the Speaker of People's Republic of Maldives accompanied by a parliamentary delegation will visit the country from February 10-14 next year. Minister of State for External Affairs Pabitra Margherita informed the Lok Sabha in a written response to a query. He was asked whether a number of parliamentary exchanges have been conducted by the government recently in alignment with the emphasis on the 'Neighbourhood First' Policy adopted in the recent years. The query also sought details of all parliamentary exchanges held in the recent years with special reference to the People's Majlis of Maldives. "In keeping with the objectives of the 'Neighbourhood First' Policy for enhancing people to people relations, regular parliamentary exchanges with our neighbouring countries have been taking place over the years," he said. In his response, he also shared details of the recent parliamentary exchanges with the neighbouring countries including with the Maldives. "At the ..
The RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies -- the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of Understanding (MoU) was signed by Governor of Reserve Bank of India Shaktikanta Das and Governor of Maldives Monetary Authority Ahmed Munawar. "The MoU encourages the use of INR and MVR in current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries," the RBI said in a statement. This framework would enable exporters and importers to invoice and settle in their respective domestic currencies, which in turn would enable the development of trading in the INR-MVR pair in foreign exchange market. Use of local currencies would optimise costs and settlement time for transactions, the RBI added. "This collaboration marks a key milestone in strengtheni
The first shipment of American Turkey products for India left on Tuesday, marking a new phase in the bilateral trade relations between the two countries. The shipment comes over a year after India agreed to the American request to reduce high tariffs on US turkey products. US Senator from Virginia Mark Warner, who is also co-chair of the Senate India Caucus, said this marks a historic milestone in international trade, expanding the reach of American turkey products in global markets, and opening new doors for US turkey producers. "This shipment is a tremendous opportunity for Virginia's poultry producers and a huge step forward for US-India trade," he said. "As co-chair of the Senate India Caucus, I look forward to the ongoing cooperation between our two nations and to seeing a wealth of new opportunities open up for Virginia's poultry producers, Warner said. This shipment comes as a result of a trade agreement and tariff reduction, facilitated by a collaborative effort between th
Maldives President Mohamed Muizzu has taken "necessary steps" to introduce India's Unified Payments Interface (UPI) in the archipelago nation, slated to benefit the Maldivian economy substantially. Developed by the National Payments Corporation of India (NPCI), UPI is an instant real-time payment system for facilitating inter-bank transactions through mobile phones. Muizzu on Sunday set up a consortium to introduce UPI in the country and appointed TradeNet Maldives Corporation Limited as its leading agency, according to a press release by the President's Office. The president also suggested the participation of the country's banks, telecom companies, state-owned companies and fintech companies in the consortium. He "decided to take the necessary steps" on the recommendation of the Cabinet, the press release said. "This move is expected to bring significant benefits to the Maldivian economy, including increased financial inclusion, improved efficiency in financial transactions, and
India on Monday said the ongoing visit of Maldivian President Mohamed Muizzu aims at building on the "strong and extensive foundation" of bilateral ties, and its outcomes will enable the India-Maldives relationship to "scale new heights". Foreign Secretary Vikram Misri at a briefing here shared the contours of the visit and also said Prime Minister Narendra Modi has accepted President Muizzu's invitation to visit the Maldives next year and added that its schedule will be worked out through diplomatic channels. Misri told reporters that the Maldivian president is accompanied by a large number of cabinet ministers and a business delegation. The Maldivian president accompanied by First Lady Madam Sajidha Mohamed and a Maldivian delegation arrived in India on Sunday. On Monday, he held extensive bilateral talks with Prime Minister Modi. Though the Maldivian president attended PM Modi's swearing-in ceremony in June, it is his first bilateral visit to India and seeks to reset ties. Aske
The inauguration of a new runaway in the Maldives built under an airport redevelopment project assisted by India and the official launch of the RuPay card in the island nation on Monday are aimed at boosting economic ties and tourism cooperation between the two countries. Prime Minister Narendra Modi and Maldivian Mohamed Muizzu jointly virtually inaugurated the runway at the Hanimadhoo International Airport and also witnessed via weblink a live transaction using a RuPay payment service card in the Maldives. The launch took place after the two leaders held extensive talks which Muizzu in his press statement said were to "chart a new path for the future". The Maldivian president accompanied by First Lady Madam Sajidha Mohamed and a Maldivian delegation arrived in India on Sunday evening. Though the Maldivian president attended PM Modi's swearing-in ceremony in June, it is his first bilateral visit to India. Prior to the launch of different India-assisted projects in the Maldives, a