According to the Global Corruption Barometer report released by Transparency International, 53% of Maldivians believe that corruption within the government has increased in the past 12 months. The third highest rate in Asia region, the report also stated that 90% of Maldivians believe that corruption within the government to be
Parliament debate on the government’s proposed budget for 2021 has ended after over 15 hours of debate. Following the proposal of the budget last Monday, the MVR 34.7 billion budget was criticized by both the opposition and ruling party members. Majority of the parliamentarians criticized the budget stating the high
Maldives Monetary Authority Governor Ali Hashim has stated that the government earnings earmarked for 2021 will be insufficient to cover its recurrent expenses. Speaking at the parliament’s Budget Evaluation Committee, the central bank Governor Ali Hashim advised the government to cut back on its expenses. At the Budget Evaluation Committee
The Human Rights Commission of the Maldives (HRCM) has stated that the budget earmarked for 2021 is not enough for the commission of execute their legal mandate. This came after the Ministry of Finance and Treasury set MVR 24 million ($1.556 million) for the commission in the 2021 State Budget.
World renowned credit rating agency Fitch, has issued as CCC rating for the Hulhumale’ Development Corporation (HDC). HDC which was initially awarded a B+ rating at the end of 2019, the highest grade in the non-investment bracket was downgraded to CCC rating after just 2 years. Fitch Rating’s decision to
German payment processor and financial service provider Wirecard collapsed this Thursday after its auditor Ernst & Young revealed a massive irregularities within its records. The $6.69 billion worth company filed for insolvency stating that the company will be unable to pay $1.5billion of loans due raising concern over its survival.
India’s largest city and heart of Bollywood is struggling with the spike in COVID19 cases as the number of confirmed patients reach 55,000 with 2,044 deaths. Over the past 24 hours an additional 1,366 new cases were identified while 90 deaths were reported. Mumbai’s governing civic body Brihanmumbai Municipal Corporation