Amidst strained ties, India begins withdrawing troops from Maldives

News Network
March 12, 2024

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Male, Mar 12: India has begun withdrawing military personnel operating surveillance aircraft in the Maldives after the new pro-China president ordered them to leave, local media reported Tuesday.

The Mihaaru newspaper reported that 25 Indian troops deployed in the southernmost atoll of Addu had left the archipelago ahead of March 10, the official start of the withdrawal agreed by both sides.

President Mohamed Muizzu came to power in September on a pledge to kick out Indian security personnel deployed in the Maldives to patrol its vast maritime border.

Following talks with New Delhi, the two sides had agreed to complete a withdrawal of 89 Indian troops and their support staff from the nation of 1,192 tiny coral islands by May 10.

Mihaaru said the three Indian aircraft -- two helicopters and one fixed-wing plane -- will be operated by Indian civilian staff, who have already arrived.

There was no official confirmation from either the Maldivian or Indian authorities, but Mihaaru said the Maldivian National Defence Force confirmed the Indian withdrawal had begun.

Last week, the Maldives signed a "military assistance" deal with China as the Indians prepared to leave.

The Maldivian defence ministry said the deal was to foster "stronger bilateral ties" and that China would train its staff under the pact.

India is suspicious of China's growing presence in the Indian Ocean and its influence in the Maldives as well as in neighbouring Sri Lanka.

Both South Asian island nations are strategically placed halfway along key east-west international shipping routes.

Relations between Male and New Delhi have chilled since Muizzu won elections in September.

New Delhi considers the Indian Ocean archipelago to be within its sphere of influence, but the Maldives has shifted into the orbit of China -- its largest external creditor.

Muizzu, who visited Beijing in January where he signed a raft of infrastructure, energy, marine and agricultural deals, has previously denied seeking to redraw the regional balance by bringing in Chinese forces to replace Indian troops.

India last month said it was bolstering its naval forces on its "strategically important" Lakshadweep islands, about 130 kilometres (80 miles) north of the Maldives.

The Indian naval unit based on the island of Minicoy will boost "operational surveillance" of the area, the navy said.

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News Network
November 15,2024

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Union minister Amit Shah on Friday, November 15, said PM Narendra Modi will amend the Waqf Act despite opposition from leaders like Uddhav Thackeray and Sharad Pawar.

"Modi ji wants to change the Waqf Board law, but Uddhav ji, Sharad Pawar and Supriya Sule are opposing it," Shah said, addressing a rally at Umarkhed in Maharashtra's Yavatmal district.

"Uddhav ji, listen carefully, you all can protest as much as you want, but Modi ji will amend the Waqf Act," he said. Shah said there are two camps in the November 20 Maharashtra assembly polls, one of 'Pandavas' represented by the BJP-led Mahayuti and the other of 'Kauravas' represented by Maha Vikas Aghadi.

"Uddhav Thackeray claims that his Shiv Sena is the real one. Can the real Shiv Sena go against renaming Aurangabad to Sambhajinagar? Can the real Shiv Sena go against renaming Ahmednagar to Ahilyanagar? The real Shiv Sena stands with the BJP," Shah said.

"Rahul Baba used to say that his government would credit money in the accounts of the people instantly. You were unable to fulfil your promises in Himachal, Karnataka, and Telangana," he said.

Shah said the Mahayuti alliance has promised that women will get Rs 2,100 per month under the Ladki Bahin Yojana. "Kashmir is an integral part of India and no power in the world can snatch it away from us," Shah said.

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News Network
November 19,2024

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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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