Business
India’s gloomy outlook darkens, recovery path in doubt: Reuters poll

BENGALURU (Reuters) – The outlook for India’s reeling economy has worsened again as business activity slows and COVID-19 infections soar, and will probably prompt the Reserve Bank of India to cut interest rates again soon, a Reuters poll of economists suggests.
The latest findings echo recent criticism of New Delhi’s $266 billion economic rescue package, which does not include new spending, tax breaks or cash support, suggesting more will be needed to turn the economy around.
With India now the third-worst-hit country by number of infections after the United States and Brazil, the risk of renewed lockdowns after a nationwide shutdown in March-May has risen.
The Indian economy is now likely to contract this quarter and next and in this fiscal year as a whole, according to the July 20-28 poll of nearly 60 economists. Growth had been expected for all of those periods except the second quarter in the previous poll, taken in April.
“India’s failure to contain the spread of the coronavirus, and the government’s underwhelming support package for firms and households, means the economy will suffer its largest drop in output on record this year,” said Darren Aw, Asia economist at Capital Economics in Singapore.
In the quarter just gone by, the Indian economy is forecast to have shrunk 20.0% – the first double-digit contraction since official quarterly data started being released in the mid-1990s. It will then contract 6.0% and 0.3% in the current and following quarters, respectively, according to the poll.
That compared to a -5.2% forecast for the last quarter in the April 23 poll, followed by 0.8% and 4.2% growth in the current and next quarters, respectively.
For the current fiscal year, Asia’s third-largest economy is forecast to shrink 5.1%, a complete turnaround from the 1.5% growth predicted in the previous poll. It would be the weakest performance since 1979.
Under a worst-case scenario, the economy is forecast to have contracted 30.0% in the April-June quarter, and to shrink 10.0%, 4.0% and 9.1% in the current and next quarters and this fiscal year, respectively.
“The health crisis is yet to be addressed and is spreading geographically, which has led to re-initiation of lockdowns and restrictions in many parts of the country,” said Prithviraj Srinivas, chief economist at Axis Capital in Mumbai.
“With the health crisis yet to be contained, we cannot hope for a smooth recovery.”
When asked how long would it take for India’s gross domestic product to reach pre-COVID-19 levels, a slight majority of economists, 23 of 44, said within two years.
Only seven respondents predicted it would happen within a year, while the remaining 14 said it would take two years or more.

Inflation is expected to average 4.5% this fiscal year, and the RBI is forecast to cut the repo rate by another 25 basis points at its Aug. 4-6 meeting, and once more next quarter, to a record low of 3.50%.
The RBI has already reduced the repo rate by a total of 115 basis points since February, and 135 basis points in an easing cycle last year, from 6.50%, responding to an economy that was already slowing.
In response to an additional question, over three-quarters of 45 economists said the strength of the recovery had worsened or at best stayed the same over the last month.
“The government is the only catalyst at this moment to be able to spur growth and mitigate the COVID-19 crisis,” said Hugo Erken, head of international economics at Rabobank.
“Fiscal policy is there to fill in the gap left by an absence of domestic demand from the private sector, which we saw over Q2. Basically the private sector was locked up for two months, but the government hasn’t stepped up in any way that could have helped cover this gap.”
Reporting and photo: Reuters
Business
SATA 2025 announces partnerships; confirms Hotelier Maldives, Maldives Insider as Media Partners

Hotelier Maldives and Maldives Insider have been confirmed as official Media Partners of the South Asian Travel Awards (SATA) 2025. The announcement was made during a signing ceremony held at Hulhulé Island Hotel, Maldives, where SATA unveiled its distinguished partners for the 9th edition of the annual awards.
Now in its ninth year, SATA has become a key platform for recognising excellence in South Asia’s tourism and hospitality sector. The partnership with Hotelier Maldives and Maldives Insider will strengthen the awards’ regional visibility and ensure extensive coverage of the event across Maldives and beyond.

This year’s awards ceremony will take place from 19th to 20th September 2025 at Cinnamon Grand Colombo, Sri Lanka, bringing together industry leaders, stakeholders, and innovators from across South Asia.
In addition to the media partnership, SATA 2025 also announced its corporate partners. Honda Marine has been named the Platinum Partner, while The Hawks, Velana International Airport, and Allied Insurance Company of the Maldives join as Gold Partners. Renaatus Realty has been confirmed as the Silver Partner, and Hulhulé Island Hotel continues as the official Hospitality Partner in the Maldives.

Speaking at the ceremony, SATA organisers noted that the strong lineup of partners reflects the growing importance of collaboration within the tourism and hospitality industry. With the support of its partners, SATA 2025 aims not only to celebrate outstanding achievements but also to foster long-term cooperation and sustainable growth in the region’s tourism sector.
The awards are endorsed by leading national tourism bodies and associations across South Asia, including the Sri Lanka Tourism Development Authority, Nepal Tourism Board, Visit Maldives Corporation Limited, and several travel and hotel associations across the region.

This year’s evaluation process was conducted by a panel of nine jury members representing different countries, including tourism leaders from India, Sri Lanka, Bangladesh, Nepal, Bhutan, Spain, and the Maldives.
Through partnerships with media outlets such as Hotelier Maldives and Maldives Insider, SATA 2025 will ensure broad engagement across key markets, strengthening its position as one of South Asia’s most prestigious hospitality and travel award platforms.
Business
BBM, Mamee Food Services partner to elevate Maldivian dining with Asian Cuisine Engagement Week

Bestbuy Maldives (BBM), a key supplier to the Maldives’ hospitality industry, in partnership with Mamee Food Services, has launched the Asian Cuisine Engagement Week. The programme, running from 29th June to 4th July 2025, is designed to introduce premium Asian sauces to the Maldives foodservice sector and upskill culinary professionals.
The official launch was held on Monday at BBM’s venue partner, the Faculty of Hospitality and Tourism Studies (FHTS) at The Maldives National University (MNU). FHTS continues to be a key collaborator with BBM on industry events and culinary development. The event was attended by over 40 chefs from leading hotels and restaurants in Malé. Representatives from Mamee Food Services travelled to the Maldives to lead the session, which included live product demonstrations and technical training.

The focus of the initiative is the introduction of Mamee’s premium Asian sauces, including the Daebak range, which features a variety of Korean and East Asian flavours. The programme aims to support chefs in incorporating these new products into their menus, fostering innovation within commercial kitchens.
AVS Subrahmanyam, Chief Operating Officer of Bestbuy Maldives, commented on the initiative, stating, “Our goal is to be a strategic partner for the culinary community in the Maldives. This collaboration with Mamee Food Services is a direct reflection of that commitment. By providing access to new products and facilitating hands-on training, we are investing in the skills of chefs and supporting the evolution of menu offerings across the country. This initiative aligns with our broader strategy to continuously elevate the culinary standards in the Maldives.”

He added, “We believe that introducing high-quality, authentic Asian flavours through our partnership with a globally recognised brand like Mamee will provide a new dimension to the dining experience for tourists and locals alike. This reinforces BBM’s role as a trusted partner for global F&B brands seeking to make a mark in the Maldivian market.”
Jennifer Chee, Director of Food Service at Mamee Food Service, expressed her enthusiasm for the collaboration, stating, “We are incredibly excited to partner with Bestbuy Maldives to bring Mamee’s authentic Asian flavours to the vibrant culinary scene of the Maldives. This engagement week is a fantastic opportunity to showcase how our premium sauces, particularly the Daebak range, can inspire creativity and elevate dishes in professional kitchens.”
“We believe that by working directly with chefs and providing hands-on training, we can truly empower them to explore new culinary possibilities and deliver exceptional dining experiences to their guests. We look forward to seeing the innovative ways Maldivian chefs will incorporate our products.”

Following the launch in Malé, a dedicated follow-up session will be held at OBLU XPERIENCE Ailafushi for resort-based chefs. This session will include participation from properties within the Atmosphere Core group, providing hands-on training focused on the scalable integration of Mamee products into commercial resort kitchens.


Throughout the week, the culinary team from BBM and Mamee will conduct on-site visits and tastings at selected restaurants in Malé, offering further technical support and guidance.
This joint initiative between BBM and Mamee Food Services is set to drive menu innovation and provide culinary professionals in the Maldives with the tools and skills needed to meet evolving consumer tastes.
Business
2025 sees Maldives reach 1 million tourist mark in record time

Maldives has welcomed its 1 millionth tourist of 2025 on 7th June 2025, the fastest that the country has achieved a million tourists in our nation’s history.
Kajal Singh, an Indian national, arrived in the Maldives today on IndiGo flight 6E 1131 at 12:55. She is visiting for her honeymoon at Bandos Maldives. This is her first trip to the Maldives.

Visit Maldives, in collaboration with the Ministry of Tourism and Environment and Maldives Airports Company Limited (MACL), hosted a special celebratory event at Velana International Airport to commemorate this remarkable achievement.
“This milestone fills us with immense pride, reflecting the successful culmination of our destination marketing initiatives that showcase the true essence of the Maldivian experience,” stated Minister for Tourism and Environment Thoriq Ibrahim. “Welcoming one million tourists with such unprecedented speed is a powerful indicator of our global appeal, and I extend my sincere appreciation to all the hardworking individuals across the tourism sector whose dedication made this achievement possible.”

In a gesture highlighting the nation’s commitment to environmental sustainability, the one millionth visitor, Kajal, was invited to participate in the “Five Million Trees Planting Program” initiated by President Dr. Mohamed Muizzu. Kajal planted a tree at Hulhulé as part of this nationwide effort to combat climate change, enhance biodiversity, and promote a greener Maldives for future generations.
“This achievement is a clear indicator that we are well on our way to attaining H.E President Dr Mohamed Muizzu’s national tourist arrival target of 2.3 million for this year,” said CEO & MD of MMPRC Ibrahim Shiuree. “We are thrilled to celebrate this milestone with all our stakeholders, whose dedication and hard work are invaluable. Our commitment doesn’t end here; we are continually working to enhance the Maldives’ tourism industry and ensure the Sunny Side of Life remains a dream destination for everyone.”

The arrival of the 1 millionth tourist in 2025 marks a proud moment for Maldivian tourism, symbolizing the robust momentum generated by MMPRC’s strategic promotional efforts. Building on the resounding success of the recent Arabian Travel Market (ATM) 2025, where the Maldives captivated the global travel trade community with its powerful and immersive showcase, this milestone highlights the effectiveness of our enhanced global visibility and affirmed key industry partnerships.
Complementing these efforts, the ongoing comprehensive Summer Campaign, with its multi-market strategy spanning Europe and key international markets, is actively driving increased visibility and stimulating early bookings for both the summer and upcoming winter seasons. MMPRC’s marketing initiatives such as high-impact campaigns, strategic partnerships, and targeted outreach are significantly enhancing the Maldives’ global brand, boosting booking confidence, and solidifying its position as a leading, year-round holiday destination.
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