In a first, ferry service to connect India and Maldives

Agencies
June 9, 2019

Male, Jun 9: India and the Maldives have agreed to launch a passenger-cum-cargo ferry service between Kerala's Kochi and the Maldivian capital Male via Kulhudhuffushi atoll to strengthen connectivity between the two countries and boost tourism.

The initiative was announced during Prime Minister Narendra Modi's two-day state visit to the Indian Ocean archipelago.

A Memorandum of Understanding was signed between the two sides for the establishment of passenger and cargo services by sea.

The distance between Kochi and Male is about 700 km, and between Kochi and Kulhudhuffushi atoll is 500 km.

Prime Minister Modi and Maldivian President Ibrahim Mohamed Solih on Saturday directed officials to expeditiously work towards starting the regular passenger-cum-cargo ferry service between the two countries.

"I am particularly happy that we have agreed upon a ferry service between the two countries," Prime Minister Modi said while addressing the Maldivian Parliament on Saturday.

Foreign Secretary Vijay Gokhale said that the ferry service was discussed during the talks between Prime Minister Modi and President Solih.

"This is the first time we are going to begin passenger cum cargo services directly connecting the Indian mainland with the Maldives from Kochi via Kulhudhuffushi to Male," Gokhale said.

"Both the leaders emphasised the need to improve connectivity between the two countries through the establishment of enabling infrastructure and in this regard, directed their concerned officials to expeditiously work towards starting a regular passenger-cum-cargo ferry service between Kochi and Kulhudhuffushi and Male," the Ministry of External Affairs said in a statement.

This is Modi's first foreign visit after his re-election as Prime Minister in May, reflecting the importance India attaches to its 'Neighbourhood First' policy.

While Modi visited the Maldives in November 2018 to attend President Solih's swearing-in, this visit is the first by an Indian prime minister at a bilateral level in eight years.

The relations between India and the Maldives deteriorated after the then President Abdulla Yameen imposed emergency on February 5 last year.

Some decisions by Yameen including the imposition of restrictions on work visas for Indians and signing of a new Free Trade Agreement with Beijing also did not go down well with New Delhi.

However, ties were back on track under Solih's presidency.

China views the Maldives as key to its Maritime Silk Road project in the Indian Ocean as it has already acquired Hambantota port in Sri Lanka and Djibouti in the Horn of Africa.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 14,2024

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Thursday backed Chief Minister Siddaramaiah over his claim that the BJP had offered Rs 50 crore each to 50 Congress MLAs in an attempt to "topple" the state government.

Addressing reporters here, Shivakumar, also the Congress state president, said, “The BJP indeed lured 50 Congress MLAs with Rs 50 crore each.”

He defended Siddaramaiah’s statement and said the Congress MLAs were briefed about the BJP’s alleged 'Operation Lotus', a term used to describe the BJP's attempts to destabilise ruling governments through horse-trading.

“Some of our MLAs informed the Chief Minister about this matter, and he, in turn, shared it with the media,” Shivakumar said.

At an event in Mysuru, Siddaramaiah reiterated the claim that "none of the Congress MLAs had accepted the offer".

He also accused the BJP of filing false cases against him in a bid to "remove him and overthrow his government".

The BJP has yet to respond to the allegations.

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News Network
November 21,2024

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Prominent NRI community leader SM Syed Khalilur Rehman, fondly known as CA Khalil, passed away in Dubai on Thursday at the age of 86 after a brief illness.

Khalil had been admitted to Aster Hospital in Mankhool on Tuesday after experiencing severe leg weakness. Despite the best efforts of the medical team, he succumbed to a double heart attack that worsened his condition, his son Rais Ahmed confirmed.

The news of his passing has sent waves of grief across communities, particularly in his hometown of Bhatkal, Karnataka, where he was a celebrated figure. Tributes have been pouring in on social media, highlighting his significant contributions to international trade, social service, and education.

A Legacy of Leadership and Service

A chartered accountant by profession, Khalil was a founding member of the Dubai chapter of the Institute of Chartered Accountants of India (ICAI), where he served as chairman from 1987 to 1994. His illustrious career included key leadership roles, such as general manager of Khaleej Times, group executive director of the Ilyas and Mustafa Galadari Group, and vice-chairman of the Jashanmal Group of Companies.

He also chaired Maadhyama Communications and Sahil Online, a web-based news platform, and was a director and trustee of several media companies and charitable organisations in Dubai and India.

A Champion for Education and Philanthropy

Khalil’s impact extended far beyond his professional achievements. As president and general secretary of Anjuman Hami-e-Muslimeen, he played a pivotal role in the development of educational institutions, including schools and colleges in Bhatkal and surrounding areas. His dedication to social upliftment earned him recognition from the Government of Karnataka, which honoured him with a prestigious award for his philanthropic contributions.

A Life Celebrated

The Bhatkal Muslim Khaleej Council (BMKC) recently released a documentary celebrating Khalil’s remarkable life and service to the community—a testament to his enduring legacy.

CA Khalil is survived by his family and countless admirers across the globe. His passing marks the end of an era for Indian expatriates in the UAE and beyond, leaving behind a legacy of leadership, generosity, and commitment to community service.

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