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The Hindu
19-07-2025
- Business
- The Hindu
Yulia Svyrydenko: Ukraine's new Prime Minister
The story so far: A new Prime Minister is in charge in war-time Ukraine after five years. On July 17, Ukraine's Parliament, the Verkhovna Rada, approved the nomination of Yulia Svyrydenko as the country's 19th Prime Minister.. Ukraine President Volodymyr Zelenskyy had nominated her on July 14, as part of a long-expected wartime cabinet shuffle. Ms. Svyrydenko replaces Denys Shmyhal, who has held the Prime Minister's post since 2020. The 39-year-old economist and technocrat is expected to infuse fresh vigour into Ukraine's economy, and spearhead the development of its military. Before her appointment to the post of Prime Minister, she was the first Deputy Prime Minister, and handled Economic Development and Trade ministry from November 4, 2021. Who is Yulia Svyrydenko? Yulia Anatoliivna Svyrydenko was born in Chernihiv, Ukraine (erstwhile the Ukrainian SSR, Soviet Union) on December 25, 1985. She graduated with a master's degree in Antitrust Field Management from Kyiv National University of Trade and Economics in 2008. For a brief period, she worked as an economist in the private sector, including as part of the Ukrainian-Andorran joint venture JSC AMP. In 2011, she transitioned to the public sector. Her first stint was as a representative for Chernihiv in Wuxi. China. Ms. Svyrydenko took up public administration roles in 2015. She served as an advisor to the Governor of Chernihiv, then as the head of the Department of Economic Development in the Chernihiv Oblast, followed by a brief stint as the head of the Regional State Administration of the Oblast from July 30 to November 28, 2018. President Zelenskyy tapped her to be a part of his administration in 2020. In May 2020, she was appointed to represent Ukraine in the Trilateral Contact Group's social and economic subgroup. The Trilateral Contact Group is comprised of representatives from Russia, Ukraine and the Organization for Security and Co-operation in Europe. Later that year, in December, she was named Deputy Head of the Office of the President, replacing Yuliya Kovaliv. A little less than a year later, Ms. Svyrydenko was appointed as the first Deputy Prime Minister and Minister of Economic Development and Trade on November 4, 2021, receiving the support of 256 lawmakers for her confirmation. Her appointment came a mere four months before Russia invaded Ukraine. She was tasked with reviving the war-time economy and ensuring domestic development during a time of crisis. At this time, she helped negotiate a critical deal with U.S President Donald Trump over Ukraine's mineral resources, at a time when relations between Mr. Trump and Mr. Zelenskyy had soured. The deal, called the United States-Ukraine Reinvestment Fund, was signed on April 30, and gives the U.S preferential access to minerals and other natural resources in Ukraine. It also envisages the creation of a reconstruction fund, into which Ukraine must pay into 50% of all future profits from natural resources. Recently, Ms. Svyrydenko also led the 4th Ukraine Recovery Conference, which took place in Rome on July 10 and 11. Here she concluded agreements with partners for economic and development projects, estimated to have a worth of €11 billion. The road ahead for Svyrydenko Following Mr. Zelenskyy's announcement earlier this week, nomination was confirmed by the Verkhova Rada on July 17, with 262 of 450 members voting in her favour. The new Prime Minister inherits a $19 billion budget gap, and has stressed that she will focus on strengthening the economy. Some measures proposed by her include the audit of public finances, deregulation, acceleration of privatisation, fiscal reforms, reduction of bureaucracy and non-essential expenditure, and greater support for business entrepreneuers. Another key focus under her leadership is bolstering Ukraine's military, as the country remains under onslaught by Russian forces. President Zelenskyy has established the target of domestically producting 50% of the military equipment required by Ukraine within six months, an aim reiterated by the new Prime Minister. She has also said that she will focus on strengthening the armed forces and building stronger ties with allies, including the U.S On a post on X, she wrote, 'Our Government sets its course toward a Ukraine that stands firm on its own foundations — military, economic, and social.... My key goal is real, positive results that every Ukrainian will feel in daily life. War leaves no room for delay. We must act swiftly and decisively.' It is a great honor for me to lead the Government of Ukraine today. Our Government sets its course toward a Ukraine that stands firm on its own foundations — military, economic, and social. My key goal is real, positive results that every Ukrainian will feel in daily life. War… — Yulia Svyrydenko (@Svyrydenko_Y) July 17, 2025 Other changes in the cabinet Several other changes have taken place in what is the largest government reshuffle in Ukraine since Russia invaded three years ago. While the Prime Minister was confirmed in Parliament by a majority, Opposition lawmakers have expressed concerns over a cabinet seemingly stacked with allies of the President. The outgoing prime minister Denys Shmyhal, 49, who also has been the country's longest serving prime minister, will now be defence minister. Deputy ministers Oleksiy Sobolev and Taras Kachka will now be the ministers for economy, environment and agriculture and deputy prime minister for European integration. Svitlana Hrynchuk will take charge as energy minister. Former Justice minister Olga Stefanishyna will be shuffled into the role of Ukraine's new ambassador to the US, replacing Oksana Markarova, who had earned Trump's disapproval for her positive working ties with the Biden administration. Ms. Stefanishyna also worked on the mineral deal negotiation between the U.S and Ukraine, besides previous work with the EU and NATO. Andrii Sybiha, 50, will retain his role as Foreign Minister.


Mid East Info
08-07-2025
- Business
- Mid East Info
Abu Dhabi Fund for Development Inaugurates Maafaru International Airport Implementation in the Maldives - Middle East Business News and Information
Abu Dhabi, United Arab Emirates –July 2025: Abu Dhabi Fund for Development ADFD continues to strengthen its global reputation as a leading development institution by financing strategic projects that create lasting and sustainable impact on communities. As part of its strategic partnership with the Republic of Maldives, ADFD today inaugurated the implementation of Maafaru International Airport, a project funded with an investment of approximately AED 367 million. This initiative reflects the shared commitment to advancing critical sectors and supporting a prosperous and sustainable future. The inauguration ceremony was held in the presence of H.E. Mohamed Saeed, Minister of Economic Development and Trade of the Republic of Maldives; H.E. Dr. Abdulla Muththalib, Minister of Construction, Housing and Infrastructure of the Republic of Maldives; and H.E. Mohamed Saif Al Suwaidi, Director General of ADFD, alongside senior ministers and officials from both parties. ADFD played a key role in the construction of Maafaru International Airport, with a runway that extends across 2,850 metres in length and 45 metres in width, as well as accommodating several Airbus A330 and Boeing B-777 aircraft. This project aims to meet the growing passenger demand and serves as a gateway to seven luxury resorts across the Maldives and the surrounding region. Regarding this inauguration, H.E Mohamed Saeed, Minister of Economic Development and Trade of the Republic of Maldives extended his appreciation towards His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, for his ongoing commitment towards sustainable development efforts in the Maldives. He emphasized that the UAE's support reflects the strategic bilateral relations between the nations and the country's unwavering commitment to supporting partner nations in achieving their development goals. He also emphasised ADFD's key role in financing transformative infrastructure projects and its continued support for the development of key economic sectors in the Maldives. H.E Mohamed Saeed added: 'The inauguration of Maafaru International Airport construction, financed by ADFD, represents a transformative milestone in our national development journey. This strategic project is set to substantially enhance our infrastructure capacity, accelerate sustainable economic growth, and firmly position the Maldives as a world-class destination for tourism, trade and global investment,' he added. H.E. Dr. Abdulla Muththalib said: 'Our strategic partnership with ADFD has been instrumental in delivering impactful, high-value projects that advance national priorities across the Maldives. The implementation of Maafaru International Airport is a testament to this collaboration through strengthening our transport infrastructure, fuelling economic activity, generating employment, and reinforcing the Maldives' role in global trade and connectivity' He added: 'with this project, we aim to increase the airport's operational capacity. From inception to execution, we prioritized the integration of innovative technologies and state-of-art systems to elevate aviation safety and operational efficiency, while maintaining a strong focus on environmental sustainability and preserving the Maldives' unique natural ecosystems.' H.E. Mohamed Saif Al Suwaidi, Director General of ADFD, said: 'Our participation in this exceptional event marks a significant milestone in the development cooperation between Abu Dhabi Fund for Development and the Government of the Maldives. The inauguration of Maafaru International Airport reflects our mutual commitment to advancing sustainable development and strengthening infrastructure in our partner countries.' H.E Al Suwaidi added: 'This milestone project is fully aligned with our shared vision of driving economic progress and enhancing infrastructure resilience. We are confident that this project will result in multiple strategic benefits, from attracting foreign investment and enhancing tourism growth, to supporting the Maldives' long-term economic development.' Since initiating its development efforts in the Maldives in 1978, ADFD has financed 11 strategic projects with a total value exceeding AED 1.11 billion. These projects have supported vital sectors such as transport, energy, tourism, and healthcare, contributing significantly to improving quality of life and driving the Maldives' long-term economic and social development.


Gulf Today
08-07-2025
- Business
- Gulf Today
ADFD inaugurates Dhs367 million Maafaru project
Abu Dhabi Fund for Development (ADFD), as part of its strategic partnership with the Republic of Maldives, inaugurated the implementation of Maafaru International Airport, a project funded with an investment of approximately Dhs367 million. This initiative reflects the shared commitment to advancing critical sectors and supporting a prosperous and sustainable future. The inauguration ceremony was held in the presence of Mohamed Saeed, Minister of Economic Development and Trade of the Republic of Maldives; Dr. Abdulla Muththalib, Minister of Construction, Housing and Infrastructure of the Republic of Maldives; and Mohamed Saif Al Suwaidi, Director-General of ADFD, alongside senior ministers and officials from both parties. ADFD played a key role in the construction of Maafaru International Airport, with a runway that extends across 2,850 metres in length and 45 metres in width, as well as accommodating several Airbus A330 and Boeing B-777 aircraft. This project aims to meet the growing passenger demand and serves as a gateway to seven luxury resorts across the Maldives and the surrounding region. Regarding this inauguration, Mohamed Saeed, Minister of Economic Development and Trade of the Republic of Maldives, extended his appreciation towards President His Highness Sheikh Mohamed bin Zayed Al Nahyan, for his ongoing commitment towards sustainable development efforts in the Maldives. He emphasised that the UAE's support reflects the strategic bilateral relations between the nations and the country's unwavering commitment to supporting partner nations in achieving their development goals. He also emphasised ADFD's key role in financing transformative infrastructure projects and its continued support for the development of key economic sectors in the Maldives. Mohamed Saeed added, 'The inauguration of Maafaru International Airport construction, financed by ADFD, represents a transformative milestone in our national development journey. This strategic project is set to substantially enhance our infrastructure capacity, accelerate sustainable economic growth, and firmly position the Maldives as a world-class destination for tourism, trade and global investment,' he added. Dr. Abdulla Muththalib said, 'Our strategic partnership with ADFD has been instrumental in delivering impactful, high-value projects that advance national priorities across the Maldives. The implementation of Maafaru International Airport is a testament to this collaboration through strengthening our transport infrastructure, fuelling economic activity, generating employment, and reinforcing the Maldives' role in global trade and connectivity' He added, 'with this project, we aim to increase the airport's operational capacity. From inception to execution, we prioritised the integration of innovative technologies and state-of-art systems to elevate aviation safety and operational efficiency, while maintaining a strong focus on environmental sustainability and preserving the Maldives' unique natural ecosystems.' Mohamed Saif Al Suwaidi, Director-General of ADFD, said, 'Our participation in this exceptional event marks a significant milestone in the development cooperation between Abu Dhabi Fund for Development and the Government of the Maldives. The inauguration of Maafaru International Airport reflects our mutual commitment to advancing sustainable development and strengthening infrastructure in our partner countries.' Al Suwaidi added, 'This milestone project is fully aligned with our shared vision of driving economic progress and enhancing infrastructure resilience. We are confident that this project will result in multiple strategic benefits, from attracting foreign investment and enhancing tourism growth, to supporting the Maldives' long-term economic development.' WAM


Al Etihad
08-07-2025
- Business
- Al Etihad
Abu Dhabi Fund for Development inaugurates Maafaru International Airport implementation in Maldives
8 July 2025 16:14 ABU DHABI (WAM)Abu Dhabi Fund for Development (ADFD), as part of its strategic partnership with the Republic of Maldives, today inaugurated the implementation of Maafaru International Airport, a project funded with an investment of approximately Dh367 initiative reflects the shared commitment to advancing critical sectors and supporting a prosperous and sustainable inauguration ceremony was held in the presence of Mohamed Saeed, Minister of Economic Development and Trade of the Republic of Maldives; Dr. Abdulla Muththalib, Minister of Construction, Housing and Infrastructure of the Republic of Maldives; and Mohamed Saif Al Suwaidi, Director-General of ADFD, alongside senior ministers and officials from both played a key role in the construction of Maafaru International Airport, with a runway that extends across 2,850 metres in length and 45 metres in width, as well as accommodating several Airbus A330 and Boeing B-777 aircraft. This project aims to meet the growing passenger demand and serves as a gateway to seven luxury resorts across the Maldives and the surrounding this inauguration, Mohamed Saeed, Minister of Economic Development and Trade of the Republic of Maldives, extended his appreciation towards President His Highness Sheikh Mohamed bin Zayed Al Nahyan, for his ongoing commitment towards sustainable development efforts in the emphasised that the UAE's support reflects the strategic bilateral relations between the nations and the country's unwavering commitment to supporting partner nations in achieving their development goals. He also emphasised ADFD's key role in financing transformative infrastructure projects and its continued support for the development of key economic sectors in the Saeed added, 'The inauguration of Maafaru International Airport construction, financed by ADFD, represents a transformative milestone in our national development journey. This strategic project is set to substantially enhance our infrastructure capacity, accelerate sustainable economic growth, and firmly position the Maldives as a world-class destination for tourism, trade and global investment,' he Abdulla Muththalib said, 'Our strategic partnership with ADFD has been instrumental in delivering impactful, high-value projects that advance national priorities across the Maldives. The implementation of Maafaru International Airport is a testament to this collaboration through strengthening our transport infrastructure, fuelling economic activity, generating employment, and reinforcing the Maldives' role in global trade and connectivity'He added, 'with this project, we aim to increase the airport's operational capacity. From inception to execution, we prioritised the integration of innovative technologies and state-of-art systems to elevate aviation safety and operational efficiency, while maintaining a strong focus on environmental sustainability and preserving the Maldives' unique natural ecosystems.'Mohamed Saif Al Suwaidi, Director-General of ADFD, said, 'Our participation in this exceptional event marks a significant milestone in the development cooperation between Abu Dhabi Fund for Development and the Government of the Maldives. The inauguration of Maafaru International Airport reflects our mutual commitment to advancing sustainable development and strengthening infrastructure in our partner countries.'Al Suwaidi added, 'This milestone project is fully aligned with our shared vision of driving economic progress and enhancing infrastructure resilience. We are confident that this project will result in multiple strategic benefits, from attracting foreign investment and enhancing tourism growth, to supporting the Maldives' long-term economic development.' Since initiating its development efforts in the Maldives in 1978, ADFD has financed 11 strategic projects with a total value exceeding Dh1.11 billion.
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First Post
05-07-2025
- Business
- First Post
India, Maldives discuss expanding trade and investment ties
India and the Maldives discussed ways to explore new opportunities for economic cooperation and trade enhancement, staterun media said on Saturday. read more India and the Maldives held high-level talks to explore new avenues for economic cooperation and boost bilateral trade, state-run Maldivian media reported on Saturday. The meeting took place on Friday between India's Commerce Secretary Sunil Barthwal and Maldivian Minister for Economic Development and Trade Mohamed Saeed at the Maldivian Economic Ministry in Malé. Barthwal is on an official visit to the archipelago nation. According to the Maldivian state broadcaster PSM News, the discussions focused on identifying new sectors for collaboration and strengthening existing trade and investment ties. STORY CONTINUES BELOW THIS AD Following the meeting, Minister Saeed posted on X 'Had a productive meeting today with India's Commerce Secretary Sunil Barthwal. We discussed strengthening trade and investment partnerships between our nations and exploring new opportunities for economic cooperation.' The Department of Commerce, Ministry of Commerce and Industry, in a post on X, said Barthwal had 'a constructive' meeting with Saeed, 'focusing on enhancing trade and investment ties and exploring new avenues for economic cooperation between the two countries.' As part of recent efforts to attract Indian investment, business forums were organised in three Indian cities to promote opportunities in the Maldives, the PSM News said. India continues to be a key development partner for the Maldives, contributing to several infrastructure and capacity-building projects, it added. New Delhi has also extended a USD 25.94 million currency swap facility to support the archipelagic nation's economy. Earlier on May 26, India and Maldives explored ways to boost trade and strategic cooperation during a three-day visit by Maldivian Foreign Minister Abdulla Khaleel, accompanied by a high-level delegation to New Delhi to review the implementation of the comprehensive economic and maritime security partnership. It was agreed during Maldivian President Mohamed Muizzu's trip to New Delhi last October. STORY CONTINUES BELOW THIS AD The ties between India and the Maldives came under severe strain after Muizzu, known for his pro-China leanings, took charge of the top office in November 2023. Within hours of his oath, he had demanded the withdrawal of Indian military personnel from his country. Subsequently, the Indian military personnel were replaced by civilians on a mutually agreed date. There was a thaw in the relations as Muizzu vowed to boost the bilateral ties with India during his visit to Delhi in October 2024. Maldives is India's key maritime neighbour and an important partner in India's 'Neighbourhood First' policy and Vision MAHASAGAR that is Mutual and Holistic Advancement for Security and Growth Across Regions. With inputs from agencies