Connect with us

Business

Russia pursues de-dollarization in trade with China: official

FI

Published

on

Russia and China have been promoting settlements in their national currencies other than the U.S. dollar and euro, said Russian Deputy Prime Minister Aleksandr Novak on Friday.

Energy trade between the two countries has been steadily growing, up 64 percent in monetary terms so far this year and they are working on expanding the share of national currencies in energy transactions, Novak said in a TV interview, according to Russia Today (RT) .

“We are switching to settlements in rubles and yuan for the energy resources supplied,” Novak said.

The national currencies were also used to purchase various types of equipment from China, he said.

China has been Russia’s largest trading partner for 12 consecutive years, according to official data.

Source(s): CGTN

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Business

Govt launches ‘Addu Asseyri Tourism Development Plan’

FI

Published

on

By

The Tourism Ministry has launched the ‘Addu Asseyri Tourism Development Plan’, an initiative under the administration’s ‘Hafuthaa 14’ roadmap.

The project was launched in a ceremony attended by Tourism Minister Ibrahim Faisal and Addu City Mayor Ali Nizar in a ceremony held at the Addu City Council on Thursday.

According to the Tourism Ministry, the ‘Addu Asseyri Tourism Development Plan’ is in line with the administration’s ambitious first 100-day pledge to formulate and introduce a specialized tourism project for Addu City.

Developed by CDC Consulting, the comprehensive five-year destination development strategy is accompanied by a detailed situational analysis report.

According to the Tourism Ministry, the plan is strategically crafted to not only enhance tourism in the region, but also to make a substantial contribution to the local economy of Addu, reflecting President Dr. Mohamed Muizzu’s commitment to transformative initiatives.

The plan also encompasses key presidential pledges to Addu city, including the establishment of 6,000 tourist beds, the creation of 10,000 jobs, the revitalization of Shangri-La operations, and the establishment of a seaplane hub within the first year of the presidency.

Tourism Ministry says the initiatives will transform Addu City into a thriving tourism hub, offering unparalleled opportunities for growth and prosperity.

The plan also outlines a range of developments, such as the creation of cultural village, wellness zones, marine protected areas, and hospitality school.

According to the Tourism Ministry, the initiatives not only aim to attract visitors, but also to showcase the rich heritage and natural beauty of Addu City, providing a unique and immersive experience for tourists and locals alike.

Source(s): sun.mv

Continue Reading

Business

No difficulty in purchasing onion from India: STO

FI

Published

on

By

State Trading Organization (STO), the largest imported of food commodities in the Maldives, on Wednesday, assured that there was no difficulty in purchasing onion from India.

Maldives was absent from the list of countries India has granted special permits to export onion to as the South Asian mega power enforces a ban on the export of onions – in effect until March 31st.

Speaking with Sun regarding the matter, STO’s Spokesperson affirmed that there was no difficulty in purchasing onion from India, adding that the country was selling onion to the Maldives in line with the agreement executed previously.

“We are supplying to the extent required by the Maldivian market. There is no difficulty,” the official said.

India imposed the ban to discourage exports, in an effort to curb surging local prices.

The ban led to the price of onions in the Maldives skyrocketing.

Maldives is heavily reliant on India for the importation of essential food commodities, including onions.

The longstanding relations between Maldives and India have been significantly strained since the new administration took office.

President Dr. Mohamed Muizzu, who is maintaining close relations with China, has initiated efforts to cut down Maldives’ reliance on India. In this regard, the president, in January, revealed the execution of an agreement with Türkiye to import food and medication.

Back then, he said the government would collaboratively work with other nations to ensure Maldives is not reliant on one specific nation for staple foods.

Source(s): sun.mv

Continue Reading

Business

Thai contractor to fund mega airport project in Thinadhoo

FI

Published

on

By

The Maldivian government has signed an agreement with Thailand’s Pan Pacific Corp. to develop an international airport after reclaiming land from the lagoon of Thinadhoo City.

The Memorandum of Understanding was signed during a gathering held on Thinadhoo on Tuesday night, as part of President Dr. Mohamed Muizzu’s tour of southern Maldives.

Addressing the gathering after the signing ceremony, Infrastructure Minister Dr. Abdulla Muthalib said the entire project will be financed by the contractor.

The project involves:

  • Construction of a runway big enough to accommodate the largest airplanes
  • The establishment of a premium aviation school
  • The establishment of a fuel farm
  • The establishment of a cargo facilities
  • Development of a seaplane hub

In addition to building the airport, the contractor will also invest in the development of 12 resorts – which will create 2,000 new tourist beds.

Source(s): sun.mv

Continue Reading

Trending