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Time of India
4 days ago
- Business
- Time of India
$565m credit line for Maldives, talks on free trade pact
PM Modi and President of the Maldives Mohamed Muizzu (Pic credit: AP) The turnaround in India-Maldives ties in the past 10 months - following the acrimonious removal of Indian military personnel from the strategically located country - seemed complete as India announced a fresh $565 million line of credit (LoC) for the Indian Ocean neighbour and signed an agreement to reduce its annual debt repayment burden by 40%. As President Mohamed Muizzu hosted PM Modi for the latter's first visit to the country under his presidency, receiving Modi at the airport, both sides affirmed their commitment to a bilateral investment pact and a free trade agreement, for which the terms of reference were finalised. Seven MoUs and agreements were signed. Muizzu had invited Modi as the guest of honour for the Maldivian independence day celebrations. India had extended an $800 million LoC in 2019 under the previous pro-India Maldivian Democratic Party govt but on this occasion the LoC is in Indian currency (Rs 4,850 crore). PM: India & Maldives will soon finalise an investment treaty The president said after his meeting with Narendra Modi it will be used for priority projects in defence, healthcare, education and housing. Foreign secretary Vikram Misri said Muizzu reiterated the Maldives's condemnation of the Pahalgam attack. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo Muizzu has been seen as a pro-China leader in the past because of his association with the India Out campaign while in the opposition, and his insistence on driving out Indian military from the archipelago after taking over as president in Nov 2023. Muizzu travelled to India in Oct last year for an official visit, during which he said Maldives would do nothing to hurt India's security interests and would prioritise the relationship. The leaders then launched a Comprehensive Economic and Maritime Security Partnership to resuscitate the relationship. Modi said India is proud of the fact that it's Maldives's most reliable partner and that for India, it's always friendship first. "To give a new impetus to our development partnership, we have decided to provide a line of credit of $565 million, or approximately Rs 5,000 crore, to Maldives. It will be used for projects related to infrastructure development in line with the priorities of the people of Maldives," said Modi, calling the relationship older than history and as deep as oceans. One of the agreements signed is expected to bring down Male's annual LoC debt repayment from $51 million to $29 million. Modi said that both countries will soon finalise a bilateral investment treaty and their target now is "from paperwork to prosperity", adding a local currency settlement system under discussion will facilitate trade. There was focus on defence and security cooperation as the new defence ministry building built with Indian assistance was inaugurated. Asked whether there was any discussion about China, Misri said in a press briefing that India continued to work very closely with the Maldives on any issue that might "impinge on not just our security but our common security in this region that we share". Modi will participate in the independence day celebrations on Saturday and meet political functionaries. The visit saw the leaders virtually inaugurating a roads and drainage system project in Addu city and six high impact community development projects in other cities.
News18
5 days ago
- Politics
- News18
Exclusive: Ex-Maldives President Mohamed Nasheed: India Has Always Stood by Us
Exclusive: Ex-Maldives President Mohamed Nasheed: India Has Always Stood by Us Last Updated: July 24, 2025, 19:09 IST Breaking News Videos Ahead of PM Modi's visit, former Maldivian President Mohamed Nasheed tells CNN-News18 that India has consistently supported Maldives — from the 1988 coup attempt to the tsunami and COVID crises. He says both past and present Maldivian governments are now aligned to a pro-India foreign policy, and thanks India for helping Maldives avoid a debt crisis. homevideos Exclusive: Ex-Maldives President Mohamed Nasheed: India Has Always Stood by Us CNN name, logo and all associated elements ® and © 2024 Cable News Network LP, LLLP. A Time Warner Company. All rights reserved. CNN and the CNN logo are registered marks of Cable News Network, LP LLLP, displayed with permission. Use of the CNN name and/or logo on or as part of does not derogate from the intellectual property rights of Cable News Network in respect of them. © Copyright Network18 Media and Investments Ltd 2024. All rights reserved.
Time of India
6 days ago
- Business
- Time of India
Modi, Muizzu & masala: How Maldives went from 'India Out' to strategic warmth
When Prime Minister Narendra Modi lands in the Maldives on Friday for a state visit, he will be greeted not as an outsider, but as the Guest of Honour at the island nation's 60th Independence Day celebrations. Just two years ago, such a scenario would have seemed unlikely. Today, it marks a dramatic shift in bilateral equations, underscoring the quiet resilience of India's strategic diplomacy. Explore courses from Top Institutes in Please select course: Select a Course Category Product Management MBA others Others Technology Cybersecurity Data Science Degree Artificial Intelligence Digital Marketing Healthcare Project Management Public Policy Data Analytics Data Science Finance Management Leadership CXO Design Thinking MCA Operations Management Skills you'll gain: Product Strategy & Competitive Advantage Tactics Product Development Processes & Market Orientations Product Analytics & Data-Driven Decision Making Agile Development, Design Thinking, & Product Leadership Duration: 40 Weeks IIM Kozhikode Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Skills you'll gain: Product Strategy & Roadmapping User-Centric Product Design Agile Product Development Market Analysis & Product Launch Duration: 24 Weeks Indian School of Business Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Skills you'll gain: Creating Effective Product Roadmap User Research & Translating it to Product Design Key Metrics via Product Analytics Hand-On Projects Using Cutting Edge Tools Duration: 12 Weeks Indian School of Business ISB Product Management Starts on May 14, 2024 Get Details "Patience has its benefits; it helps if you don't give in to the compulsion and expectation to retaliate against each provocation," a senior source told TOI. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo From 'India Out' to strategic warmth President Mohamed Muizzu swept to power in 2023 on the back of an 'India Out' campaign, signalling what many feared would be a souring of ties. His ministers had publicly criticised India and even targeted PM Modi in a bid to play to nationalist sentiments. The defeat of pro-India President Ibrahim Solih further intensified concerns that Maldives—historically a close ally—was pivoting away from New Delhi. Live Events But instead of reacting to provocation, India chose a policy of 'strategic restraint.' PM Modi was the first world leader to congratulate Muizzu on his election win. And now, just months later, Muizzu is rolling out the red carpet for Modi's visit—a clear sign that political rhetoric has yielded to diplomatic pragmatism. Diplomacy backed by development India's consistent and quiet support to Maldives during economic distress laid the groundwork for this diplomatic turnaround. In 2024, New Delhi extended a $400 million emergency financial package and a Rs 3,000 crore currency swap to stabilize the Maldivian economy. Investments totalling over $450 million are already underway in infrastructure, trade, education, water and sanitation. Muizzu himself acknowledged India's role during his India visit in November, stating: 'India is a key partner in the socio-economic and infrastructure development of the Maldives, and has stood by the Maldives during our times of need.' Among the flagship projects is the Greater Male Connectivity Project , a transformative infrastructure venture linking several islands and boosting economic mobility. Masala diplomacy meets maritime security But this visit isn't just symbolic—it's strategically significant. According to report by ET, Maldives and India are expected to deepen defence and maritime cooperation, particularly in combating drug trafficking across the Arabian Sea and Indian Ocean. President Muizzu has declared the drug menace a national priority, and India is likely to offer greater support through naval collaboration and intelligence sharing. Maldives is already a member of the Colombo Security Conclave (CSC)—a regional initiative led by India to tackle maritime safety, terrorism, cyber threats, and disaster relief. The CSC has evolved into a crucial platform for multilateral cooperation, with Sri Lanka, Mauritius, and Maldives as core members, and Seychelles and Bangladesh as observers. Trade talks, treasury bills, & economic integration As part of the ongoing economic engagement, India and Maldives are in talks for a Free Trade Agreement and a broader investment pact, Foreign Secretary Vikram Misri confirmed earlier this week. He also noted India's sustained subscription to Maldivian treasury bills through the State Bank of India , underlining the financial umbilical cord that links the two nations. Several Memorandums of Understanding (MoUs) are likely to be signed during the prime minister's visit on Friday, covering areas from infrastructure to capacity building. These deals aim to accelerate regional integration and fortify economic stability in the archipelago. A visit rich in symbolism and strategy This will be PM Modi's third state visit to the Maldives—but the first since Muizzu took office. It comes not just as a bilateral gesture but as a regional statement of India's enduring influence, even amid political fluctuations. The timing couldn't be more symbolic—commemorating both 60 years of Maldivian independence and six decades of diplomatic ties with India. By inviting Modi as Guest of Honour, Male has sent a clear signal: despite the turbulence of recent years, India remains a trusted partner in Maldives' journey ahead
News18
20-07-2025
- Entertainment
- News18
This Is Why Kapil Sharma Visited Dubai Amid Kap's Cafe Row, Honey Singh Reveals Details
Last Updated: Honey Singh reveals he has created and sung a song for Kapil Sharma's Kis Kis Ko Pyaar Karoon 2, calling it Bollywood's 2025 anthem; shot recently in Dubai. Honey Singh and Kapil Sharma have been friends for a very long time, and last night, the duo was snapped at an event in the city where the ace rapper gave an update about the comedian's upcoming film Kis Kis Ko Pyaar Karoon 2. While addressing the media, Honey Singh revealed that he has written and sung a song for Kapil's upcoming laugh riot. While giving an update, he shared, 'I have exclusively created a song for Kapil's new movie, and we shot the song in Dubai last week." He further continued and stated, 'Woh song iss saal ka Bollywood anthem hai." It was only recently that Kapil Sharma shared a series of pictures from Dubai and wrote, 'Ready to dance #kiskiskopyaarkaroon2," and now we know exactly what he had planned to shoot in Dubai. The film promises to be the ultimate shaadi-comedy, with Kapil's character now entangled in a multicultural marital mess. Starring Kapil Sharma and Manjot Singh, the film continues its signature blend of comedy, confusion, and chaos that made the original a fan favourite. Meanwhile, Kapil has been in the spotlight ever since his newly opened café in Canada was attacked. Earlier today, the café gave an update on their official page. In a post, the café's official page said: 'WE'VE MISSED YOU AND ARE TRULY GRATEFUL FOR YOUR CONTINUED LOVE AND SUPPORT. WITH HEARTFELT THANKS, WE'RE OPENING OUR DOORS AGAIN – READY TO WELCOME YOU BACK WITH WARMTH, COMFORT, AND CARE. SEE YOU SOON." Fortunately, no injuries were reported in the attack on the newly opened eatery, but the property did suffer damage. Authorities suspect that the attack was a targeted strike by the Laddi gang, associated with the banned Khalistani terrorist group Babbar Khalsa International (BKI). Laddi is wanted in India for numerous terror-related offences and is believed to be the mastermind behind several recent attacks on Hindu leaders and pro-India individuals. As per a TellyChakkar report, Kapil was reportedly questioned by the Mumbai Police after the firing incident at his café in Canada. Meanwhile, apart from Kis Kis Ko Pyaar Karoon 2, Kapil Sharma is also busy with his show The Great Indian Kapil Show, which premieres every Saturday on Netflix. First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
20-07-2025
- Entertainment
- News18
Kapil Sharma's Canada Cafe Reopens After Khalistani Terrorist Attack
Last Updated: Kapil Sharma's Kap's Cafe in British Columbia, Canada, has reopened after a gunfire incident on July 9. The comedian confirmed the news on Instagram. Kapil Sharma's newly launched café, Kap's Cafe, located in British Columbia, Canada, has reopened its doors just days after it was targeted in a shocking gunfire incident on July 9. The attack, carried out by unidentified individuals, came shortly after the café's grand opening. Confirming the news, the comedian shared a story on his official Instagram account. In a post, the cafe's official page said: 'WE'VE MISSED YOU AND ARE TRULY GRATEFUL FOR YOUR CONTINUED LOVE AND SUPPORT. WITH HEARTFELT THANKS, WE'RE OPENING OUR DOORS AGAIN – READY TO WELCOME YOU BACK WITH WARMTH, COMFORT, AND CARE. SEE YOU SOON." Take a look: View this post on Instagram A post shared by Kap's Cafe (@thekapscafe_) A newly opened café in Surrey, British Columbia, co-owned by comedian Kapil Sharma and his wife Ginni Chatrath, was recently attacked in what authorities suspect was a targeted strike. The incident is being linked to the Laddi gang, which is believed to have ties to the banned Khalistani terrorist group Babbar Khalsa International (BKI). The café, called Kap's Caffe, had only just hosted its soft opening and was gaining attention for its charming pink-and-white décor, floral-themed interiors, and a menu featuring artisan coffee and desserts. However, the celebratory mood was short-lived, as the establishment was vandalised late Sunday night. While no injuries were reported, the property did sustain damages in the attack. World Famous comedian Kapil Sharma's newly inaugurated restaurant KAP'S CAFE shot at in Surrey, BC, Canada last Singh Laddi, a BKI operative, NIA's (INDIA ) most wanted terrorist has claimed this shoot out citing some remarks by Kapil @SurreyPolice — Ritesh Lakhi CA (@RiteshLakhiCA) July 10, 2025 Laddi is wanted in India for multiple terror-related offences and is alleged to be the mastermind behind several recent attacks on Hindu leaders and pro-India figures. Laddi, along with associate Kulbeer Singh alias Sidhu, is accused of planning and supplying weapons for the April 13, 2024 assassination of Vishwa Hindu Parishad (VHP) leader Prabhakar in Nangal, Rupnagar district, Punjab. The duo is also under investigation for financing terror operations and recruiting ground-level operatives for targeted killings. The National Investigation Agency (NIA) has declared a ₹10 lakh reward for information leading to Laddi's arrest. In 2023, Punjab Police uncovered a BKI cell in Ludhiana connected to Laddi and another BKI handler. Four of their associates were arrested for petrol-bombing the homes of Shiv Sena leaders, further cementing Laddi's role in cross-border extremism. First Published: July 20, 2025, 08:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
