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President Muizzu arrives in Bangalore with aims to foster investments from the top firms

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President Muizzu arrives in Bangalore with aims to foster investments from the top firms

President Muizzu arrives in Bangalore with aims to foster investments from the top firms, including from India. President Muizzu is in Bangalore to review the progress of the companies and institutions that were part of the programme. His trip is scheduled to last till the evening.

Here’s an overview of President Muizzu’s stay so far, and his hopes for the companies and institutions:

He will visit various Indian business offices and institutions in Bangalore. The visit is likely to last till the evening before he is supposed to conclude.

 

President Dr. Mohamed Muizzu and First Lady Madam Sajidha Mohamed have arrived in Bangalore as part of their state visit to India. They were greeted by the Minister of Higher Education and District Incharge Minister for Chikkaballapur of the Government of Karnataka upon arrival.

During their visit, President Dr. Muizzu and the Maldivian delegation will engage in discussions with the local business community. The President will participate in the India-Maldives Business Forum, marking the third such forum during this visit, following similar events in New Delhi and Mumbai. These forums are crucial for fostering investment, as they attract Indian business leaders interested in opportunities within the Maldives.

At the forums, the President will showcase various business and investment prospects in the Maldives, including initiatives in the digital economy, financial services, tourism, and renewable energy. He will also promote eco-tourism, wellness tourism, and film tourism as avenues for growth.

Later, they will meet with the Maldivian community residing in Bangalore, a city known for its significant population of Maldivians pursuing higher education and medical care. The President aims to connect with residents in various cities during his visit, assuring them that the Maldivian government is committed to providing essential services to Maldivians living abroad.

The President and his spouse is set to conclude their visit to India tomorrow.

President Muizzu and First Lady Madam Sajidha have arrived in Bangalore, the capital city of Karnataka, as part of their State visit.

The Maldives today was voted to become the first nation in the world to be classified under the Human Rights Council; the Maldives joined the UN’s Human Rights Council today.

During President Muizzu’s state visit to India, the Maldivian Government received a warm welcome from Indian Premier Manmohan Singh

Government pays USD 25 million for sukuk repayment

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Government pays USD 25 million for sukuk repayment

Ministry of Finance has disclosed that the government has made a payment of USD 49.4 million towards securities due in the International Debt Capital Market this year. The Ministry emphasised that repaying the Maldives’ debt to foreign institutions is a top priority.  

In 2021, the government issued a USD 500 million sukuk, maturing in 2026, which requires semi-annual coupon payments—due in April and October. 

This year, the deadline for the last coupon payment is on the 8th of this month. The Ministry confirmed that the payment was made ahead of the deadline, having already disbursed USD 24.7 million for the October coupon. The total of USD 49.4 million paid this year includes both the April coupon and the two payments made. 

To maintain investor confidence, the Ministry of Finance noted that the sukuk coupon will be paid in cash. Of the remaining USD 74.1 million for the sukuk coupon, USD 49.4 million is due next year, with the final payment scheduled for April 2026. 

SOURCE : PSM

Education Minister reveals measures to be taken for mental health of teachers

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Education Minister reveals measures to be taken for mental health of teachers

Minister of Education Dr Ismail Shafeeu has revealed that several initiatives will be implemented to support the mental health of teachers. He made the statement during an event organised by the Student Union of the Maldives National University (MNU) to commemorate Teachers’ Day. 

Speaking at the event, Minister Dr Shafeeu highlighted the numerous challenges faced by teachers in the Maldives, with a particular focus on concerns regarding their mental well-being. He noted that teachers work diligently and under immense pressure, adding that this can take a toll on their mental health. He emphasised that 80 percent of teachers in the Maldives are women, many of whom face additional pressure as they return home to household responsibilities after a long day at work. 

Additionally, Minister Dr Shafeeu pointed out that when the law for teachers was enacted, it did not include provisions addressing the mental health of teachers, leaving no formal mechanism to safeguard it. He said that it has been a recurring concern voiced by teachers. In response, he committed to taking significant steps to ensure the safety and well-being of teachers. 

Furthermore, Minister Dr Shafeeu said that the government’s decision to designate Fridays as a non-working day for teachers is one of the key initiatives aimed at supporting teachers’ mental health. He said that the move aims to provide them with a well-deserved break and more time to spend with their families, contributing to their mental well-being. He also stressed the importance of creating a supportive and healthy working environment for teachers. 

The government is also currently working to enhance the professional development and training of teachers in the Maldives. The efforts include strengthening the National Institute of Education (NIE) and expanding opportunities for teachers. The Ministry of Education has also launched a teacher training programme to encourage more students to pursue teaching careers. So far, 130 students have shown interest in joining the profession. 

SOURCE : PSM

Maldives and India inaugurate Hanimaadhoo Airport’s new runway

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Maldives and India inaugurate Hanimaadhoo Airport’s new runway

The new runway of Hanimaadhoo International Airport in Haa Dhaalu Atoll has been completed and officially inaugurated by President Dr Mohamed Muizzu and Indian Prime Minister Narendra Modi during the President’s official visit to India. The project was contracted to JMC Projects Limited of India. 

The construction of the new runway began in January 2023 as part of the Hanimaadhoo International Airport Redevelopment Project. The runway itself was the first major focus, with a new length of 2,465 meters.  

However, due to conflicts between the old and new runways, the first phase of the project developed a 1,200-meter section of the new runway, which was opened on January 28 this year. 

While the previous runway could accommodate 150-seater aircraft, the new runway is designed to handle larger planes with capacities of 250-300 passengers.  

The project is valued at USD 136.6 million and is one of the largest of the atolls of the country. The airport is expected to handle up to 1.3 million passengers annually and accommodate Airbus A320 and Boeing 737 aircraft for international flights, enabling direct routes to Hanimaadhoo from around the world. The government also aims to complete all aspects of the project by next year. 

President Dr Muizzu has also announced plans to extend the runway by an additional 700 meters to support the government’s goal of accommodating the 9,000 new tourist beds planned for the region. 

SOURCE : PSM

Maldives signs USD 400 million currency swap agreement with India

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Maldives signs USD 400 million currency swap agreement with India

The Maldives has entered into a currency swap agreement with India valued at USD 400 million, which also includes an additional INR 30 billion (approximately USD357 million). 

This agreement was signed during President Dr Mohamed Muizzu’s ongoing visit to India. The Monetary Authority of Maldives (MMA) formalized the deal with the Reserve Bank of India (RBI), with MMA Governor Ahmed Munawwar representing the Maldives. 

The agreement enables the MMA to conduct swaps through two currency windows: US Dollar/Euro and Indian Rupee. Under the “Framework on Currency Swap Arrangement for SAARC Countries 2027–2024,” the MMA will be able to draw on swaps of up to USD400 million and Indian Rupees 30 billion as needed. 

The dollar/euro swap facility aims to support short-term foreign exchange requirements, while the Indian Rupee Swap Facility is designed to facilitate trade transactions between India and the Maldives using the local currency. This arrangement is expected to enhance and strengthen trade relations between the two nations. 

SOURCE : PSM

Mechanical parking systems to be made accessible for public

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Mechanical parking systems to be made accessible for public

Ministry of Transport and Civil Aviation has stated that the Ministry intends to open the existing mechanical parking lots to the public. The Ministry revealed that this was part of the Male’ Fahi Programme, launched to address parking issues.

Mechanical parking systems were first established in Hulhumale’ in 2017, designated to accommodate four-wheeled vehicles. A total of eight systems, with 225 parking slots, were developed in various locations in Hulhumale’ Phase I. However, the public has expressed concern as these systems have not been utilised up to this date.

The systems, which were previously under the Housing Development Corporation (HDC), have now been transferred under the Transport Ministry. The Minister of Transport and Civil Aviation Mohamed Ameen previously announced the decision of relocating these systems to Hulhumale’ Phase II. He noted that these parking slots will be leased to the public at a very small price.

The Ministry noted that this initiative will play a pivotal role in addressing parking issues and reduce the number of vehicles parked illegally. It further revealed that the policies and prices related to the mechanical parking systems will be publicised in the near future.

Two land plots in Hulhumale’ have been designated as a temporary parking zone. One land plot is situated in Hulhumale’ Phase I, while the other is in Phase II. The land plot in Hulhumale’ Phase II is designated for unregistered vehicles or those registered to other zones. The Ministry disclosed that over 300 vehicles have been parked in this area. Meanwhile, the land plot in Hulhumale’ Phase I is to cater four-wheeled vehicles. Of the 90,000 sqft land, 50,000 sqft is designated for taxis while the remaining land is allocated for vehicles which are towed after being parked illegally.

The Transport Ministry stated that these land plots are being utilised to resolve the parking issues and road congestion, and to prevent such vehicle owners from incurring fines.

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