Maldives President Mohamed Muizzu, pictured during Cop28 in Dubai, ordered a review of 100 agreements with India. AP
Maldives President Mohamed Muizzu, pictured during Cop28 in Dubai, ordered a review of 100 agreements with India. AP
Maldives President Mohamed Muizzu, pictured during Cop28 in Dubai, ordered a review of 100 agreements with India. AP
Maldives President Mohamed Muizzu, pictured during Cop28 in Dubai, ordered a review of 100 agreements with India. AP

Maldives-India row escalates as envoy summoned over ministers' Modi remarks


Taniya Dutta
  • English
  • Arabic

The Maldives' envoy in New Delhi, Ibrahim Shaheeb, met Indian Foreign Ministry officials on Monday amid a social media row that saw three Maldivian ministers suspended after remarks against Indian Prime Minister Narendra Modi.

The meeting followed Mr Modi's recent visit to India’s Lakshadweep islands which led to a row over remarks posted on social media by some ministers of the Maldives.

Relations between New Delhi and Male have been strained in recent months after a new government came to power in the Maldives in November last year, with some experts suggesting the new government leans towards China.

Lakshadweep is an archipelago of 36 islands, with only 10 inhabited, in the emerald waters of the Arabian Sea. It sits about 400km off the south-western coastal state of Kerala.

The federally ruled islands are known for their white sand beaches. Mr Modi’s government is attempting to encourage tourism to the area due to its similarities to the Maldives, despite it being an ecologically sensitive region.

In posts on social media, Mr Modi snorkelled in the sea and urged “those who wish to embrace the adventurer in them” to add Lakshadweep to their future travel stops.

While his government did not make any reference to the Maldives, many Indian social media users called for travellers to visit domestic islands instead of the Maldives, prompting fierce reactions that have escalated into a diplomatic row.

Three Maldivian ministers including Mariyam Shiuna, the Deputy Minister of Youth Empowerment, Information and Arts, allegedly called the Indian prime minister a “clown” and a “diver in a life jacket” in posts on X, formerly Twitter, that have since been deleted.

Maaiz Mahmood, a politician, also shared a picture, believed to be from Bora Bora islands in French Polynesia, with the caption “Sunset in Maldives. You won’t see this in Lakshadweep.” He also tagged the Indian Prime Minister.

Kalpeni island in India's Lakshadweep archipelago off its western coast. Alamy
Kalpeni island in India's Lakshadweep archipelago off its western coast. Alamy

Several Maldivian newspapers carried stories claiming that India had started a campaign against the island nation.

Supporters of Mr Modi have since called for a boycott of the Maldives, which receives more than 200,000 Indian tourists a year, according to the Maldivian government.

Travel website EaseMyTrip announced the suspension of all flight bookings to the Maldives and launched discount offers to Lakshadweep.

The Maldivian Foreign Ministry has since taken action against the ministers suspending three.

“These opinions are personal and do not represent the views of the Government of Maldives. Moreover, the relevant authorities of the Government will not hesitate to take action against those who make such derogatory remarks,” the Maldivian Foreign Ministry said.

The latest row could further strain ties between New Delhi and Male which is believed to be leaning to China, as both the nuclear power nations are vying for influence in the region.

China is the Maldives' largest external creditor, accounting for about 20 per cent of its total public debt. The latest International Monetary Fund data shows the Maldives owes China about $1.3 billion.

While the Maldives has been the biggest beneficiaries of India’s Neighbourhood First Policy and received significant public welfare and humanitarian assistance from New Delhi, the newly elected President Mohamed Muizzu is seen as being pro-Beijing.

After taking charge in November last year, he demanded the removal of 77 Indian security personnel and ordered a review of 100 agreements with India.

On Monday, he will take part in an official state visit to China after an invitation by Chinese President Xi Jinping.

Veil (Object Lessons)
Rafia Zakaria
​​​​​​​Bloomsbury Academic

FIGHT CARD

Bantamweight Hamza Bougamza (MAR) v Jalal Al Daaja (JOR)

Catchweight 67kg Mohamed El Mesbahi (MAR) v Fouad Mesdari (ALG)

Lighweight Abdullah Mohammed Ali (UAE) v Abdelhak Amhidra (MAR)

Catchweight 73kg Mostafa Ibrahim Radi (PAL) v Yazid Chouchane (ALG)

Middleweight Yousri Belgaroui (TUN) v Badreddine Diani (MAR)

Catchweight 78kg Rashed Dawood (UAE) v Adnan Bushashy (ALG)

Middleweight Sallaheddine Dekhissi (MAR) v Abdel Emam (EGY)

Catchweight 65kg Rachid Hazoume (MAR) v Yanis Ghemmouri (ALG)

Lighweight Mohammed Yahya (UAE) v Azouz Anwar (EGY)

Catchweight 79kg Omar Hussein (PAL) v Souhil Tahiri (ALG)

Middleweight Tarek Suleiman (SYR) v Laid Zerhouni (ALG)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

MATCH INFO

Europa League semi-final, second leg
Atletico Madrid (1) v Arsenal (1)

Where: Wanda Metropolitano
When: Thursday, kick-off 10.45pm
Live: On BeIN Sports HD

Tips for taking the metro

- set out well ahead of time

- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines

- enter the right cabin. The train may be too busy to move between carriages once you're on

- don't carry too much luggage and tuck it under a seat to make room for fellow passengers

England World Cup squad

Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood

'Panga'

Directed by Ashwiny Iyer Tiwari

Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta

Rating: 3.5/5

MATCH INFO

Champions League quarter-final, first leg

Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Other key dates
  • Finals draw: December 2
  • Finals (including semi-finals and third-placed game): June 5–9, 2019
  • Euro 2020 play-off draw: November 22, 2019
  • Euro 2020 play-offs: March 26–31, 2020
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The Africa Institute 101

Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction. 

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

THE BIO

Favourite author - Paulo Coelho 

Favourite holiday destination - Cuba 

New York Times or Jordan Times? NYT is a school and JT was my practice field

Role model - My Grandfather 

Dream interviewee - Che Guevara

UAE%20SQUAD
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Updated: January 08, 2024, 11:20 AM