ReportFed rate hike will exacerbate dollar crisis in Maldives
The Federal Reserve's 0.25% interest rate hike is expected to worsen the dollar shortage in the Maldives by driving capital back to the U.S. This shift increases global borrowing costs and debt servicing expenses for the import-dependent nation, placing significant strain on its budget and requiring more effective fiscal management.
ReportIs BML's 'CCC-' rating a win?
Fitch Ratings assigned Bank of Maldives a 'CCC-' rating, reflecting a stable outlook despite significant economic risks. While the bank remains highly profitable, its rating is constrained by the Maldivian government's financial position and a critical shortage of US dollars, highlighting the bank's vulnerability to national instability.
ReportDivers retrieved Gianluca's body from second chamber of cave
Contrary to initial reports, the body of Italian diving instructor Gianluca Benedetti was found deep inside a cave at Vaavu Atoll, not at its entrance. His remains were recovered from the second chamber by two colleagues who risked their lives. This discovery was crucial in locating the other missing members of the diving group.
